Which of the following are the two core branches of economics?

The two core branches of economics are indeed macroeconomics and microeconomics. Macroeconomics focuses on the behavior and performance of an economy as a whole and deals with factors such as national productivity, inflation, unemployment, and economic growth. It examines large-scale economic phenomena and aggregates to understand how the economy functions collectively.

Microeconomics, on the other hand, delves into the behavior of individual consumers and firms, analyzing how decisions are made regarding resource allocation, pricing, and consumption. It looks at supply and demand within specific markets and how various factors influence individual economic agents.

These two branches are fundamental to understanding economics as they provide different perspectives and tools for analyzing economic phenomena. The interplay between macro and microeconomic principles is crucial in developing policies and comprehending economic systems in various contexts. This foundational knowledge is necessary for any deeper exploration into specific areas of economics, making these branches central to the discipline.