# Introduction to Micro and Macro Economics

## Introduction to Micro and Macro Economics:

Micro economics and Macro economics are the two main branches of modern economics. The term ‘micro’ is derived from the Greek word, ‘Mikros’ which means small or a millionth part. The term ‘macro’ is derived from the Greek word, ‘Makros’ which means large. These terms were coined by Norwegian Economist Ragnar Frisch of Oslo University in 1933.

The English term 'Economics' is derived from the Greek word 'Oikonomia'. Its meaning is 'household management'. Economics was first read in ancient Greece. Aristotle, the Greek Philosopher termed Economics as a science of 'household management'.