Macro-who? Micro-what?

WTF is the difference between 'macroeconomics' and 'microeconomics'? The Austrians at Cafe Hayek have a helpful way of distinguishing between the two, (even if Austrian economists generally don't recognise the distinction as a valid one). In passing, they also throwsome light on why economic thinking is any damn use to anyone -- or at least 'micro' thinking.

The chaps end their discussion by recommending Menger's explanation of how money was not the creation of a conscious mind but, instead, evolved into use as an excellent if rather "elaborate macroeconomic insight." Using Menger as an example is somewhat ironic, because Menger's student Boehm-Bawerk declared "that Menger's system had spanned the chasm between microeconomics and macroeconomics, finally establishing economics as a true science." And Austrians might remind other economists that micro or macroeconomics without the entrepreneur is like trying to make beer without yeast.