Economic

Demand and supply are used to explain the behavior of perfectly competitive markets, but their usefulness as a standard of performance extends to any type of market. Demand and supply can also be generalized to explain variables applying to the whole economy, for example, quantity of total output and the general price level.
Microeconomics. Supply equals demand at an equilibrium price. Consumers try to minimize opportunity costs and maximize marginal profits and utility.If they respond to price changes, economists call their behavior elastic.
Macroeconomics. Keynesians like government and consumer spending. friedman and his monetarist friends place their faith in the control of the money supply .it looks like both camps have valid points to make, but neither has a corner on explaining how economies work. In any case, supply equals demand at an equilibrium price. that much they agree on.
Global Macroeconomics. the economies of the world keep track of their activity using balance of payments accounting. If they are doing a good job, inflation stays low,.If not a country may end up in an economic quagmire like Lebanon.and also you can use the country analysis framework to make a prediction.