Definition of Macroeconomics:
Study of the behavior of the whole (aggregate) economies or economic systems instead of the behavior of individuals, individual firms, or markets (which is the domain of Microeconomics). Macroeconomics is concerned primarily with the forecasting of national income, through the analysis of major economic factors that show predictable patterns and trends, and of their influence on one another. These factors include level of employment/unemployment, gross national product (GNP), balance of payments position, and prices (deflation or inflation). Macroeconomics also covers role of fiscal and monetary policies, economic growth, and determination of consumption and investment levels.
Macroeconomics is a branch of economics that studies how an overall economy—the market systems that operate on a large scale—behaves. Macroeconomics studies economy-wide phenomena such as inflation, price levels, rate of economic growth, national income, gross domestic product (GDP), and changes in unemployment.
Some of the key questions addressed by macroeconomics include: What causes unemployment? What causes inflation? What creates or stimulates economic growth? Macroeconomics attempts to measure how well an economy is performing, to understand what forces drive it, and to project how performance can improve.
The part of economics concerned with large-scale or general economic factors, such as interest rates and national productivity.
How to use Macroeconomics in a sentence?
- Macroeconomics in its modern form is often defined as starting with John Maynard Keynes and his theories about market behavior and governmental policies in the 1930s; several schools of thought have developed since.
- When studying economics it usually is better to focus on the macroeconomics instead of using a smaller sample size like one case.
- Dr. Fontanas interests include macroeconomics, monetary economics, history of economic thought, and methodology.
- The two main areas of macroeconomic research are long-term economic growth and shorter-term business cycles.
- Instead of focusing on how one business has done it is better to use macroeconomics to get much more data.
- The study of macroeconomics can be used to study large trends in buying and selling for products all over the world.
- In contrast to macroeconomics, microeconomics is more focused on the influences on and choices made by individual actors in the economy (people, companies, industries, etc.).
- Macroeconomics is the branch of economics that deals with the structure, performance, behavior, and decision-making of the whole, or aggregate, economy.
Meaning of Macroeconomics & Macroeconomics Definition