2.a) Define economics, macroeconomics, and microeconomics. Discuss whether the other-things-constant assumption applies to macroeconomics and microeconomics.

b) Provide a real-world example of a microeconomic event related to your workplace or to another workplace of your choice.

Hints: See pages 30-31 of the course textbook (Mateer & Coppock). Read the Unit 1 lecture (the TANSTAAFL TRIBUNE); it's posted in the Unit 1 module of our online classroom. A microeconomic event is anything that affects the wages, interest rent, or profits paid by the workplace (employer/firm) for resources used in the production of goods/services. Microeconomic events could also be related to the revenues received for the workplace's good and services.

Also note: A real-world example refers to actual workplaces, actual people, actual events, etc. Please note: If your examples include the words if, would, and/or suppose, then it is likely your examples are hypothetical examples rather than real-world examples.