We cannot draw any precise line of separation between micro and macro-economics. Both these approaches help us in analyzing the working of the economy. If we study one approach and neglect the other, we are considered to be only half educated. We should integrate the two approaches for the successful analysis of the working of economic system. The macro approach should be applied when aggregate entities are involved and micro approach when individual parts of the economy are examined. If we ignore one and lay emphasis on the other, it may lead to wrong or inadequate conclusions