Considering how crazy expensive accommodations have become the last couple of years, concentrated in the hands of greedy corporations, landlords and how little politicians seem to care about this problem, do you think we will ever experience a real estate market crash that would bring those exorbitant prices back to Earth?
It’s been 20 years since I took the class, but I think basically microeconomics is individual decision-making, and macroeconomics is market-level trends.
So an average market price over time is a macroeconomic model and a household’s maximum budget for groceries is a microeconomic model.
Supply and demand curves exist in macro.
What’s the deal with it being declared evil then? It makes a lot of sense.