Introduction to macroeconomics
Introduction to macroeconomics
Macroeconomics
Macroeconomics (from Greek prefix "macr(o)-" meaning "large" + "economics") is a branch of
economics that deals with
· the performance, structure, behavior and decision-making of the entire economy,
· be that a national, regional, or the global economy
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 gro...
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