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Introduction to macroeconomics (0)

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Introduction to macroeconomics
Macroeconomics
Macroeconomics (from Greek prefix "macr(o)-" meaning "large" + " economics ") is a branch of economics that deals with

The Economist's Dictionary of Economics defines Macroeconomics as
  • "The study of whole economic systems aggregating over the functioning of individual economic units. It is primarily concerned with variables which follow systematic and predictable paths of behaviour and can be analysed independently of the decisions of the many agents who determine their level. It is a study of national economies and the determination of national income ."
Macroeconomics examines the economy as a whole and answers questions
  • 'What causes the economy to grow over time?',
  • 'What causes short-run fluctuations in the economy?‘
  • 'What influences the values various economic indicators and how do those indicators affect economic performance?
Macroeconomics can be best understood in contrast to microeconomics.
An understanding of microeconomics is crucial to understand macroeconomics.
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Introduction to macroeconomics #1 Introduction to macroeconomics #2 Introduction to macroeconomics #3
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macroeconomics

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