SlideShare a Scribd company logo
An Introduction to Macroeconomics:
Nature and Scope
An Introduction to Macroeconomics:
Nature and Scope
An Introduction to Macroeconomics: Nature and Scope
Macroeconomics covers the entire economy and not just
parts of it. Thus, macro-economics is related to study of
aggregates like total employment, total output, total
consumption, total savings, total investment, national
income, aggregate demand, aggregate supply, general price
level, etc.
As macroeconomics deals with aggregates, it can be also be
coined as the theory of income and employment or income
analysis. Macroeconomics deal with general welfare and
disregards the welfare at individual levels though individual
welfare forms an important part of economic study.
Let’s not just jump into Macroeconomics and
know the basic of economics first. Economics
refer to the study of allocation of scarce
resources among competing ends which have
alternative uses.
Now, the thing is that economics is divided
into two parts:
• Microeconomics
• Macroeconomics
Macroeconomics covers the entire economy
and not just parts of it. Thus, macro-
economics is related to study of aggregates
like total employment, total output, total
consumption, total savings, total investment,
national income, aggregate demand,
aggregate supply, general price level, etc.
• As macroeconomics deals with aggregates, it can be also be coined as the
theory of income and employment or income analysis.
• Nature
The nature relevant to macroeconomics can be understood by the
following aspects:
Get the details of national income and employment
• Macroeconomics deals with aggregate demand and aggregate supply that
determines the equilibrium level of income and employment in the
economy.
• The level of aggregate demand determines the level of income and
employment.
• Macroeconomics also deals with the problem of unemployment due to
lack of aggregate demand.
• Recognize general price level
Macroeconomics studies the general level of price in an
economy.
• It also studies the problem related to inflation and
deflation
• It gives an idea about the various factors that
contribute towards the economic growth and
development.
• Dividing the factors of production
• It talks about the various factors that contribute
towards the production and their relative share in the
total production or total national income.
• Scope and significance
• Macroeconomics holds a different place in terms of Indian
economy production and also national income.
• The importance of macroeconomics can be understood
from the following points:
i) Policy Formulation:
• - Macroeconomics plays a very important role in
formulating economic policies. Since Government
intervention in economic affairs is indispensable in the
present economic scenario, the knowledge of aggregates is
of great importance in the framing as well as the
implementation of economic policies of the nation.
ii) Basis For Micro study:
• - Macroeconomics provides the basis for microeconomic
analysis as the study of aggregates helps to understand and
verify the behaviours of individual units.
iii) Multi-dimensional Study:
• - Macroeconomics has a very wide scope and covers multi-
dimensional aspects like population, employment, income,
production, distribution, consumption, inflation, etc.
• - This is very helpful in controlling fluctuations in these
factors.
vi) National Income:
• - Macroeconomics studies national income accounting
which helps to understand the distribution of income
among different groups of people. It is also instrumental in
forecasting the level of economic activity.
v) Special Growth Models:
• - Macroeconomics has been useful in developing special
growth models. These growth models are applied for
economic development because the economics of growth
is, in essence, the study of macroeconomics.
vi) Monetary Problems:
• - Macroeconomics has special significance in
studying monetary problems that adversely
affect the economy.
• - In fact, macroeconomics focuses on the
problems of inflation and deflation and their
solution by adopting monetary, fiscal and
direct control measures.
Limitation
• - Though macro-economics is essential in economic
analysis and has great practical and theoretical
importance, it suffers from certain drawbacks or
limitation. These are:
i) UNREALISTIC ASSUMPTIONS:
• - Macroeconomics assumes that the aggregates are
homogeneous. Such an assumption is, however,
unrealistic.
ii) GENERAL ECONOMIC WELFARE:
• - Macroeconomics deal with general welfare and
disregards the welfare at individual levels though
individual welfare forms an important part of economic
study.
• In spite of many limitations, macroeconomics holds a
great practical value and also used globally. It is quite
helpful to the economic problems.
• Video link:
https://www.youtube.com/watch?v=MKO1icFVtDc

More Related Content

What's hot

Macro economic policy debates
Macro economic policy debatesMacro economic policy debates
Macro economic policy debates
Ängel Rözi Rozi
 
Bba 2 be ii u 1.1 introduction to macro economics
Bba 2 be ii u 1.1 introduction to macro economicsBba 2 be ii u 1.1 introduction to macro economics
Bba 2 be ii u 1.1 introduction to macro economics
Rai University
 
Introduction to macroeconomics
Introduction to macroeconomicsIntroduction to macroeconomics
Introduction to macroeconomics
Online
 
Unit 1 (Introduction to Macro Economics) by Dr. Abhay Singh Chauhan
Unit 1 (Introduction to Macro Economics) by Dr. Abhay Singh ChauhanUnit 1 (Introduction to Macro Economics) by Dr. Abhay Singh Chauhan
Unit 1 (Introduction to Macro Economics) by Dr. Abhay Singh Chauhan
Dr. Abhay Singh Chauhan
 
Macroeconomics
MacroeconomicsMacroeconomics
Macroeconomics
leolito Magtoto
 
Shahla macro
Shahla macroShahla macro
Shahla macro
Tabassum tabassum
 
Nani intro to macroeconomics
Nani intro to macroeconomics Nani intro to macroeconomics
Nani intro to macroeconomics
Vikram g b
 
PRESENTATION ON THE INTRODUCTION TO  MACROECONOMICS
PRESENTATION ON THE INTRODUCTIONTO  MACROECONOMICSPRESENTATION ON THE INTRODUCTIONTO  MACROECONOMICS
PRESENTATION ON THE INTRODUCTION TO  MACROECONOMICS
Topu Kawser
 
1) overview of macroeconomics
1) overview of macroeconomics1) overview of macroeconomics
1) overview of macroeconomics
Akanksha Aggarwal
 
Introduction To Macro Economics
Introduction To Macro EconomicsIntroduction To Macro Economics
Introduction To Macro Economics
Saurabh Goel
 
Concepts of Macro Economics
Concepts of Macro EconomicsConcepts of Macro Economics
Concepts of Macro Economics
JIMS Rohini Sector 5
 
Microeconomics and macroeconomics
Microeconomics and macroeconomicsMicroeconomics and macroeconomics
Microeconomics and macroeconomics
BinduHA
 
Introduction to macro economics
Introduction to macro economicsIntroduction to macro economics
Introduction to macro economics
Zishan Hyder Rajput
 
Concepts of micro and macro economics
Concepts of micro and macro economicsConcepts of micro and macro economics
Concepts of micro and macro economics
padma patil
 
Macroeconomic goals
Macroeconomic goalsMacroeconomic goals
Macroeconomic goals
R Ash Id Razak
 
Macro economics i
Macro economics   iMacro economics   i
Macro economics i
Dhina Karan
 
Difference between micro & Macro Economics
Difference between micro & Macro EconomicsDifference between micro & Macro Economics
Difference between micro & Macro Economics
Abhishek Choksi
 
Basic macroeconomics
Basic macroeconomicsBasic macroeconomics
Basic macroeconomics
Rhit Srivastava
 
Intrduction to macroeconomics - Unitedworld School of Business
Intrduction to macroeconomics - Unitedworld School of BusinessIntrduction to macroeconomics - Unitedworld School of Business
Intrduction to macroeconomics - Unitedworld School of Business
Arnab Roy Chowdhury
 
Introduction To Macoeconomics
Introduction To MacoeconomicsIntroduction To Macoeconomics
Introduction To Macoeconomics
Saurabh Goel
 

What's hot (20)

Macro economic policy debates
Macro economic policy debatesMacro economic policy debates
Macro economic policy debates
 
Bba 2 be ii u 1.1 introduction to macro economics
Bba 2 be ii u 1.1 introduction to macro economicsBba 2 be ii u 1.1 introduction to macro economics
Bba 2 be ii u 1.1 introduction to macro economics
 
Introduction to macroeconomics
Introduction to macroeconomicsIntroduction to macroeconomics
Introduction to macroeconomics
 
Unit 1 (Introduction to Macro Economics) by Dr. Abhay Singh Chauhan
Unit 1 (Introduction to Macro Economics) by Dr. Abhay Singh ChauhanUnit 1 (Introduction to Macro Economics) by Dr. Abhay Singh Chauhan
Unit 1 (Introduction to Macro Economics) by Dr. Abhay Singh Chauhan
 
Macroeconomics
MacroeconomicsMacroeconomics
Macroeconomics
 
Shahla macro
Shahla macroShahla macro
Shahla macro
 
Nani intro to macroeconomics
Nani intro to macroeconomics Nani intro to macroeconomics
Nani intro to macroeconomics
 
PRESENTATION ON THE INTRODUCTION TO  MACROECONOMICS
PRESENTATION ON THE INTRODUCTIONTO  MACROECONOMICSPRESENTATION ON THE INTRODUCTIONTO  MACROECONOMICS
PRESENTATION ON THE INTRODUCTION TO  MACROECONOMICS
 
1) overview of macroeconomics
1) overview of macroeconomics1) overview of macroeconomics
1) overview of macroeconomics
 
Introduction To Macro Economics
Introduction To Macro EconomicsIntroduction To Macro Economics
Introduction To Macro Economics
 
Concepts of Macro Economics
Concepts of Macro EconomicsConcepts of Macro Economics
Concepts of Macro Economics
 
Microeconomics and macroeconomics
Microeconomics and macroeconomicsMicroeconomics and macroeconomics
Microeconomics and macroeconomics
 
Introduction to macro economics
Introduction to macro economicsIntroduction to macro economics
Introduction to macro economics
 
Concepts of micro and macro economics
Concepts of micro and macro economicsConcepts of micro and macro economics
Concepts of micro and macro economics
 
Macroeconomic goals
Macroeconomic goalsMacroeconomic goals
Macroeconomic goals
 
Macro economics i
Macro economics   iMacro economics   i
Macro economics i
 
Difference between micro & Macro Economics
Difference between micro & Macro EconomicsDifference between micro & Macro Economics
Difference between micro & Macro Economics
 
Basic macroeconomics
Basic macroeconomicsBasic macroeconomics
Basic macroeconomics
 
Intrduction to macroeconomics - Unitedworld School of Business
Intrduction to macroeconomics - Unitedworld School of BusinessIntrduction to macroeconomics - Unitedworld School of Business
Intrduction to macroeconomics - Unitedworld School of Business
 
Introduction To Macoeconomics
Introduction To MacoeconomicsIntroduction To Macoeconomics
Introduction To Macoeconomics
 

Similar to An introduction to macroeconomics www.brainwareuniversity.ac.in

Economics 6
Economics 6Economics 6
Economics 6
Golam Bitonsir
 
Macro I Chapter one.pptx
Macro I Chapter one.pptxMacro I Chapter one.pptx
Macro I Chapter one.pptx
barke6
 
Introduction to Micro and Macro Economics
Introduction to Micro and Macro EconomicsIntroduction to Micro and Macro Economics
Introduction to Micro and Macro Economics
TapaswiniReddy2
 
intro to macro.ppt
intro to macro.pptintro to macro.ppt
intro to macro.ppt
RichaGoel44
 
Macroeconomics
MacroeconomicsMacroeconomics
Macroeconomics
Jasminekharel
 
Chapter 1Introduction to Macro Economics.pptx
Chapter 1Introduction to Macro Economics.pptxChapter 1Introduction to Macro Economics.pptx
Chapter 1Introduction to Macro Economics.pptx
SeringNegi1
 
Introduction to economics
Introduction to economicsIntroduction to economics
Introduction to economics
Mohammed Jasir PV
 
Difference between microeconomics and macroeconomics
Difference between microeconomics and macroeconomicsDifference between microeconomics and macroeconomics
Difference between microeconomics and macroeconomics
Marwadi University Rajkot
 
Micro Economics Unit 1.pptx
Micro Economics Unit 1.pptxMicro Economics Unit 1.pptx
Micro Economics Unit 1.pptx
RahiSamuelAlhat
 
Micro and macro economics
Micro and macro economicsMicro and macro economics
Micro and macro economics
AjayBhartiya2
 
Unit -4 (1).pptx
Unit -4 (1).pptxUnit -4 (1).pptx
Unit -4 (1).pptx
AyushGoel236044
 
Macroeconomics basic notes WITH CONCEPTS INFLATION , NATIONAL INCOME , SAVING...
Macroeconomics basic notes WITH CONCEPTS INFLATION , NATIONAL INCOME , SAVING...Macroeconomics basic notes WITH CONCEPTS INFLATION , NATIONAL INCOME , SAVING...
Macroeconomics basic notes WITH CONCEPTS INFLATION , NATIONAL INCOME , SAVING...
SOURAV DAS
 
Study of Economics _ Microeconomics and Macroeconomics.pdf
Study of Economics _ Microeconomics and Macroeconomics.pdfStudy of Economics _ Microeconomics and Macroeconomics.pdf
Study of Economics _ Microeconomics and Macroeconomics.pdf
abhishekverma489234
 
Economics FOR engineers
Economics FOR engineersEconomics FOR engineers
Economics FOR engineers
Jitesh Kaushik
 
Macro economics
Macro economicsMacro economics
Macro economics
Javed Qadri
 
Bsc agri 2 pae u-3.2 introduction to macro economics
Bsc agri  2 pae  u-3.2 introduction to macro economicsBsc agri  2 pae  u-3.2 introduction to macro economics
Bsc agri 2 pae u-3.2 introduction to macro economics
Rai University
 
Macroeconomics
MacroeconomicsMacroeconomics
Macroeconomics
Harshitmittal90
 
macroeconomics- 1.pptx
macroeconomics- 1.pptxmacroeconomics- 1.pptx
macroeconomics- 1.pptx
shahzadmithani845
 
Macroeconomics
Macroeconomics Macroeconomics
Macroeconomics
RebekahSamuel2
 
introduction to economics.ppt
introduction to economics.pptintroduction to economics.ppt
introduction to economics.ppt
ssusere1704e
 

Similar to An introduction to macroeconomics www.brainwareuniversity.ac.in (20)

Economics 6
Economics 6Economics 6
Economics 6
 
Macro I Chapter one.pptx
Macro I Chapter one.pptxMacro I Chapter one.pptx
Macro I Chapter one.pptx
 
Introduction to Micro and Macro Economics
Introduction to Micro and Macro EconomicsIntroduction to Micro and Macro Economics
Introduction to Micro and Macro Economics
 
intro to macro.ppt
intro to macro.pptintro to macro.ppt
intro to macro.ppt
 
Macroeconomics
MacroeconomicsMacroeconomics
Macroeconomics
 
Chapter 1Introduction to Macro Economics.pptx
Chapter 1Introduction to Macro Economics.pptxChapter 1Introduction to Macro Economics.pptx
Chapter 1Introduction to Macro Economics.pptx
 
Introduction to economics
Introduction to economicsIntroduction to economics
Introduction to economics
 
Difference between microeconomics and macroeconomics
Difference between microeconomics and macroeconomicsDifference between microeconomics and macroeconomics
Difference between microeconomics and macroeconomics
 
Micro Economics Unit 1.pptx
Micro Economics Unit 1.pptxMicro Economics Unit 1.pptx
Micro Economics Unit 1.pptx
 
Micro and macro economics
Micro and macro economicsMicro and macro economics
Micro and macro economics
 
Unit -4 (1).pptx
Unit -4 (1).pptxUnit -4 (1).pptx
Unit -4 (1).pptx
 
Macroeconomics basic notes WITH CONCEPTS INFLATION , NATIONAL INCOME , SAVING...
Macroeconomics basic notes WITH CONCEPTS INFLATION , NATIONAL INCOME , SAVING...Macroeconomics basic notes WITH CONCEPTS INFLATION , NATIONAL INCOME , SAVING...
Macroeconomics basic notes WITH CONCEPTS INFLATION , NATIONAL INCOME , SAVING...
 
Study of Economics _ Microeconomics and Macroeconomics.pdf
Study of Economics _ Microeconomics and Macroeconomics.pdfStudy of Economics _ Microeconomics and Macroeconomics.pdf
Study of Economics _ Microeconomics and Macroeconomics.pdf
 
Economics FOR engineers
Economics FOR engineersEconomics FOR engineers
Economics FOR engineers
 
Macro economics
Macro economicsMacro economics
Macro economics
 
Bsc agri 2 pae u-3.2 introduction to macro economics
Bsc agri  2 pae  u-3.2 introduction to macro economicsBsc agri  2 pae  u-3.2 introduction to macro economics
Bsc agri 2 pae u-3.2 introduction to macro economics
 
Macroeconomics
MacroeconomicsMacroeconomics
Macroeconomics
 
macroeconomics- 1.pptx
macroeconomics- 1.pptxmacroeconomics- 1.pptx
macroeconomics- 1.pptx
 
Macroeconomics
Macroeconomics Macroeconomics
Macroeconomics
 
introduction to economics.ppt
introduction to economics.pptintroduction to economics.ppt
introduction to economics.ppt
 

More from Brainware University

Foundation of e- commerce-basic introduction
Foundation of e- commerce-basic introductionFoundation of e- commerce-basic introduction
Foundation of e- commerce-basic introduction
Brainware University
 
The GMAT- an overall look to the exam
The GMAT-  an overall look to the examThe GMAT-  an overall look to the exam
The GMAT- an overall look to the exam
Brainware University
 
Career Trend 2020 - Importance of A Degree in Commerce
Career Trend 2020 -  Importance of A Degree in CommerceCareer Trend 2020 -  Importance of A Degree in Commerce
Career Trend 2020 - Importance of A Degree in Commerce
Brainware University
 
Radio Imaging Technology - Scopes, Courses, & Careers
Radio Imaging Technology - Scopes, Courses, & CareersRadio Imaging Technology - Scopes, Courses, & Careers
Radio Imaging Technology - Scopes, Courses, & Careers
Brainware University
 
General Principles of Applied Epidemiology
General Principles of Applied EpidemiologyGeneral Principles of Applied Epidemiology
General Principles of Applied Epidemiology
Brainware University
 
Advantages of Social Media Advertising
Advantages of Social Media AdvertisingAdvantages of Social Media Advertising
Advantages of Social Media Advertising
Brainware University
 
What is Influencer Marketing?
What is Influencer Marketing?What is Influencer Marketing?
What is Influencer Marketing?
Brainware University
 
Media marketing
Media marketingMedia marketing
Media marketing
Brainware University
 
Media science & its Career Scope
Media science & its Career ScopeMedia science & its Career Scope
Media science & its Career Scope
Brainware University
 
Cloud Computing
Cloud ComputingCloud Computing
Cloud Computing
Brainware University
 
How MBA in HR Can Prove To Be A Boon For Your Career
How MBA in HR Can Prove To Be A Boon For Your CareerHow MBA in HR Can Prove To Be A Boon For Your Career
How MBA in HR Can Prove To Be A Boon For Your Career
Brainware University
 
Career Trend 2020- Biotechnology
Career Trend 2020- BiotechnologyCareer Trend 2020- Biotechnology
Career Trend 2020- Biotechnology
Brainware University
 
Optometry as a Career Choice
Optometry as a Career ChoiceOptometry as a Career Choice
Optometry as a Career Choice
Brainware University
 
Top law colleges in West Bengal
Top law colleges in West BengalTop law colleges in West Bengal
Top law colleges in West Bengal
Brainware University
 
Report on seminar "Electronic C2C (ECE Department)
Report on seminar "Electronic C2C (ECE Department)Report on seminar "Electronic C2C (ECE Department)
Report on seminar "Electronic C2C (ECE Department)
Brainware University
 
Brainware university- The emerging careers
Brainware university- The emerging careersBrainware university- The emerging careers
Brainware university- The emerging careers
Brainware University
 
Annual sports day events at Brainware University
Annual sports day events at Brainware UniversityAnnual sports day events at Brainware University
Annual sports day events at Brainware University
Brainware University
 
Brainware university:The Studentpreneurs the steps towards Idea Hunt
Brainware university:The Studentpreneurs the steps towards Idea HuntBrainware university:The Studentpreneurs the steps towards Idea Hunt
Brainware university:The Studentpreneurs the steps towards Idea Hunt
Brainware University
 
Histori call at brainware university
Histori call at brainware universityHistori call at brainware university
Histori call at brainware university
Brainware University
 
Workshop on industry
Workshop on industryWorkshop on industry
Workshop on industry
Brainware University
 

More from Brainware University (20)

Foundation of e- commerce-basic introduction
Foundation of e- commerce-basic introductionFoundation of e- commerce-basic introduction
Foundation of e- commerce-basic introduction
 
The GMAT- an overall look to the exam
The GMAT-  an overall look to the examThe GMAT-  an overall look to the exam
The GMAT- an overall look to the exam
 
Career Trend 2020 - Importance of A Degree in Commerce
Career Trend 2020 -  Importance of A Degree in CommerceCareer Trend 2020 -  Importance of A Degree in Commerce
Career Trend 2020 - Importance of A Degree in Commerce
 
Radio Imaging Technology - Scopes, Courses, & Careers
Radio Imaging Technology - Scopes, Courses, & CareersRadio Imaging Technology - Scopes, Courses, & Careers
Radio Imaging Technology - Scopes, Courses, & Careers
 
General Principles of Applied Epidemiology
General Principles of Applied EpidemiologyGeneral Principles of Applied Epidemiology
General Principles of Applied Epidemiology
 
Advantages of Social Media Advertising
Advantages of Social Media AdvertisingAdvantages of Social Media Advertising
Advantages of Social Media Advertising
 
What is Influencer Marketing?
What is Influencer Marketing?What is Influencer Marketing?
What is Influencer Marketing?
 
Media marketing
Media marketingMedia marketing
Media marketing
 
Media science & its Career Scope
Media science & its Career ScopeMedia science & its Career Scope
Media science & its Career Scope
 
Cloud Computing
Cloud ComputingCloud Computing
Cloud Computing
 
How MBA in HR Can Prove To Be A Boon For Your Career
How MBA in HR Can Prove To Be A Boon For Your CareerHow MBA in HR Can Prove To Be A Boon For Your Career
How MBA in HR Can Prove To Be A Boon For Your Career
 
Career Trend 2020- Biotechnology
Career Trend 2020- BiotechnologyCareer Trend 2020- Biotechnology
Career Trend 2020- Biotechnology
 
Optometry as a Career Choice
Optometry as a Career ChoiceOptometry as a Career Choice
Optometry as a Career Choice
 
Top law colleges in West Bengal
Top law colleges in West BengalTop law colleges in West Bengal
Top law colleges in West Bengal
 
Report on seminar "Electronic C2C (ECE Department)
Report on seminar "Electronic C2C (ECE Department)Report on seminar "Electronic C2C (ECE Department)
Report on seminar "Electronic C2C (ECE Department)
 
Brainware university- The emerging careers
Brainware university- The emerging careersBrainware university- The emerging careers
Brainware university- The emerging careers
 
Annual sports day events at Brainware University
Annual sports day events at Brainware UniversityAnnual sports day events at Brainware University
Annual sports day events at Brainware University
 
Brainware university:The Studentpreneurs the steps towards Idea Hunt
Brainware university:The Studentpreneurs the steps towards Idea HuntBrainware university:The Studentpreneurs the steps towards Idea Hunt
Brainware university:The Studentpreneurs the steps towards Idea Hunt
 
Histori call at brainware university
Histori call at brainware universityHistori call at brainware university
Histori call at brainware university
 
Workshop on industry
Workshop on industryWorkshop on industry
Workshop on industry
 

Recently uploaded

Bridging the gap: Online job postings, survey data and the assessment of job ...
Bridging the gap: Online job postings, survey data and the assessment of job ...Bridging the gap: Online job postings, survey data and the assessment of job ...
Bridging the gap: Online job postings, survey data and the assessment of job ...
Labour Market Information Council | Conseil de l’information sur le marché du travail
 
Governor Olli Rehn: Inflation down and recovery supported by interest rate cu...
Governor Olli Rehn: Inflation down and recovery supported by interest rate cu...Governor Olli Rehn: Inflation down and recovery supported by interest rate cu...
Governor Olli Rehn: Inflation down and recovery supported by interest rate cu...
Suomen Pankki
 
The Rise and Fall of Ponzi Schemes in America.pptx
The Rise and Fall of Ponzi Schemes in America.pptxThe Rise and Fall of Ponzi Schemes in America.pptx
The Rise and Fall of Ponzi Schemes in America.pptx
Diana Rose
 
快速办理(RWTH毕业证书)德国亚琛工业大学毕业证录取通知书一模一样
快速办理(RWTH毕业证书)德国亚琛工业大学毕业证录取通知书一模一样快速办理(RWTH毕业证书)德国亚琛工业大学毕业证录取通知书一模一样
快速办理(RWTH毕业证书)德国亚琛工业大学毕业证录取通知书一模一样
yeuwffu
 
一比一原版(RMIT毕业证)皇家墨尔本理工大学毕业证如何办理
一比一原版(RMIT毕业证)皇家墨尔本理工大学毕业证如何办理一比一原版(RMIT毕业证)皇家墨尔本理工大学毕业证如何办理
一比一原版(RMIT毕业证)皇家墨尔本理工大学毕业证如何办理
k4ncd0z
 
TEST BANK Principles of cost accounting 17th edition edward j vanderbeck mari...
TEST BANK Principles of cost accounting 17th edition edward j vanderbeck mari...TEST BANK Principles of cost accounting 17th edition edward j vanderbeck mari...
TEST BANK Principles of cost accounting 17th edition edward j vanderbeck mari...
Donc Test
 
University of North Carolina at Charlotte degree offer diploma Transcript
University of North Carolina at Charlotte degree offer diploma TranscriptUniversity of North Carolina at Charlotte degree offer diploma Transcript
University of North Carolina at Charlotte degree offer diploma Transcript
tscdzuip
 
Tdasx: In-Depth Analysis of Cryptocurrency Giveaway Scams and Security Strate...
Tdasx: In-Depth Analysis of Cryptocurrency Giveaway Scams and Security Strate...Tdasx: In-Depth Analysis of Cryptocurrency Giveaway Scams and Security Strate...
Tdasx: In-Depth Analysis of Cryptocurrency Giveaway Scams and Security Strate...
nimaruinazawa258
 
FCCS Basic Accounts Outline and Hierarchy.pptx
FCCS Basic Accounts Outline and Hierarchy.pptxFCCS Basic Accounts Outline and Hierarchy.pptx
FCCS Basic Accounts Outline and Hierarchy.pptx
nalamynandan
 
Tdasx: In-Depth Analysis of Cryptocurrency Giveaway Scams and Security Strate...
Tdasx: In-Depth Analysis of Cryptocurrency Giveaway Scams and Security Strate...Tdasx: In-Depth Analysis of Cryptocurrency Giveaway Scams and Security Strate...
Tdasx: In-Depth Analysis of Cryptocurrency Giveaway Scams and Security Strate...
bresciafarid233
 
13 Jun 24 ILC Retirement Income Summit - slides.pptx
13 Jun 24 ILC Retirement Income Summit - slides.pptx13 Jun 24 ILC Retirement Income Summit - slides.pptx
13 Jun 24 ILC Retirement Income Summit - slides.pptx
ILC- UK
 
Independent Study - College of Wooster Research (2023-2024) FDI, Culture, Glo...
Independent Study - College of Wooster Research (2023-2024) FDI, Culture, Glo...Independent Study - College of Wooster Research (2023-2024) FDI, Culture, Glo...
Independent Study - College of Wooster Research (2023-2024) FDI, Culture, Glo...
AntoniaOwensDetwiler
 
Seeman_Fiintouch_LLP_Newsletter_Jun_2024.pdf
Seeman_Fiintouch_LLP_Newsletter_Jun_2024.pdfSeeman_Fiintouch_LLP_Newsletter_Jun_2024.pdf
Seeman_Fiintouch_LLP_Newsletter_Jun_2024.pdf
Ashis Kumar Dey
 
Power point analisis laporan keuangan chapter 7 subramanyam
Power point analisis laporan keuangan chapter 7 subramanyamPower point analisis laporan keuangan chapter 7 subramanyam
Power point analisis laporan keuangan chapter 7 subramanyam
FarhanRafifSidqi
 
The Impact of Generative AI and 4th Industrial Revolution
The Impact of Generative AI and 4th Industrial RevolutionThe Impact of Generative AI and 4th Industrial Revolution
The Impact of Generative AI and 4th Industrial Revolution
Paolo Maresca
 
Money20/20 and EU Networking Event of 20/24!
Money20/20 and EU Networking Event of 20/24!Money20/20 and EU Networking Event of 20/24!
Money20/20 and EU Networking Event of 20/24!
FinTech Belgium
 
falcon-invoice-discounting-a-premier-investment-platform-for-superior-returns...
falcon-invoice-discounting-a-premier-investment-platform-for-superior-returns...falcon-invoice-discounting-a-premier-investment-platform-for-superior-returns...
falcon-invoice-discounting-a-premier-investment-platform-for-superior-returns...
Falcon Invoice Discounting
 
一比一原版宾夕法尼亚大学毕业证(UPenn毕业证书)学历如何办理
一比一原版宾夕法尼亚大学毕业证(UPenn毕业证书)学历如何办理一比一原版宾夕法尼亚大学毕业证(UPenn毕业证书)学历如何办理
一比一原版宾夕法尼亚大学毕业证(UPenn毕业证书)学历如何办理
vpqasyb
 
1比1复刻(ksu毕业证书)美国堪萨斯州立大学毕业证本科文凭证书原版一模一样
1比1复刻(ksu毕业证书)美国堪萨斯州立大学毕业证本科文凭证书原版一模一样1比1复刻(ksu毕业证书)美国堪萨斯州立大学毕业证本科文凭证书原版一模一样
1比1复刻(ksu毕业证书)美国堪萨斯州立大学毕业证本科文凭证书原版一模一样
28xo7hf
 
Initial Public Offering (IPO) Process.ppt
Initial Public Offering (IPO) Process.pptInitial Public Offering (IPO) Process.ppt
Initial Public Offering (IPO) Process.ppt
ribhi87
 

Recently uploaded (20)

Bridging the gap: Online job postings, survey data and the assessment of job ...
Bridging the gap: Online job postings, survey data and the assessment of job ...Bridging the gap: Online job postings, survey data and the assessment of job ...
Bridging the gap: Online job postings, survey data and the assessment of job ...
 
Governor Olli Rehn: Inflation down and recovery supported by interest rate cu...
Governor Olli Rehn: Inflation down and recovery supported by interest rate cu...Governor Olli Rehn: Inflation down and recovery supported by interest rate cu...
Governor Olli Rehn: Inflation down and recovery supported by interest rate cu...
 
The Rise and Fall of Ponzi Schemes in America.pptx
The Rise and Fall of Ponzi Schemes in America.pptxThe Rise and Fall of Ponzi Schemes in America.pptx
The Rise and Fall of Ponzi Schemes in America.pptx
 
快速办理(RWTH毕业证书)德国亚琛工业大学毕业证录取通知书一模一样
快速办理(RWTH毕业证书)德国亚琛工业大学毕业证录取通知书一模一样快速办理(RWTH毕业证书)德国亚琛工业大学毕业证录取通知书一模一样
快速办理(RWTH毕业证书)德国亚琛工业大学毕业证录取通知书一模一样
 
一比一原版(RMIT毕业证)皇家墨尔本理工大学毕业证如何办理
一比一原版(RMIT毕业证)皇家墨尔本理工大学毕业证如何办理一比一原版(RMIT毕业证)皇家墨尔本理工大学毕业证如何办理
一比一原版(RMIT毕业证)皇家墨尔本理工大学毕业证如何办理
 
TEST BANK Principles of cost accounting 17th edition edward j vanderbeck mari...
TEST BANK Principles of cost accounting 17th edition edward j vanderbeck mari...TEST BANK Principles of cost accounting 17th edition edward j vanderbeck mari...
TEST BANK Principles of cost accounting 17th edition edward j vanderbeck mari...
 
University of North Carolina at Charlotte degree offer diploma Transcript
University of North Carolina at Charlotte degree offer diploma TranscriptUniversity of North Carolina at Charlotte degree offer diploma Transcript
University of North Carolina at Charlotte degree offer diploma Transcript
 
Tdasx: In-Depth Analysis of Cryptocurrency Giveaway Scams and Security Strate...
Tdasx: In-Depth Analysis of Cryptocurrency Giveaway Scams and Security Strate...Tdasx: In-Depth Analysis of Cryptocurrency Giveaway Scams and Security Strate...
Tdasx: In-Depth Analysis of Cryptocurrency Giveaway Scams and Security Strate...
 
FCCS Basic Accounts Outline and Hierarchy.pptx
FCCS Basic Accounts Outline and Hierarchy.pptxFCCS Basic Accounts Outline and Hierarchy.pptx
FCCS Basic Accounts Outline and Hierarchy.pptx
 
Tdasx: In-Depth Analysis of Cryptocurrency Giveaway Scams and Security Strate...
Tdasx: In-Depth Analysis of Cryptocurrency Giveaway Scams and Security Strate...Tdasx: In-Depth Analysis of Cryptocurrency Giveaway Scams and Security Strate...
Tdasx: In-Depth Analysis of Cryptocurrency Giveaway Scams and Security Strate...
 
13 Jun 24 ILC Retirement Income Summit - slides.pptx
13 Jun 24 ILC Retirement Income Summit - slides.pptx13 Jun 24 ILC Retirement Income Summit - slides.pptx
13 Jun 24 ILC Retirement Income Summit - slides.pptx
 
Independent Study - College of Wooster Research (2023-2024) FDI, Culture, Glo...
Independent Study - College of Wooster Research (2023-2024) FDI, Culture, Glo...Independent Study - College of Wooster Research (2023-2024) FDI, Culture, Glo...
Independent Study - College of Wooster Research (2023-2024) FDI, Culture, Glo...
 
Seeman_Fiintouch_LLP_Newsletter_Jun_2024.pdf
Seeman_Fiintouch_LLP_Newsletter_Jun_2024.pdfSeeman_Fiintouch_LLP_Newsletter_Jun_2024.pdf
Seeman_Fiintouch_LLP_Newsletter_Jun_2024.pdf
 
Power point analisis laporan keuangan chapter 7 subramanyam
Power point analisis laporan keuangan chapter 7 subramanyamPower point analisis laporan keuangan chapter 7 subramanyam
Power point analisis laporan keuangan chapter 7 subramanyam
 
The Impact of Generative AI and 4th Industrial Revolution
The Impact of Generative AI and 4th Industrial RevolutionThe Impact of Generative AI and 4th Industrial Revolution
The Impact of Generative AI and 4th Industrial Revolution
 
Money20/20 and EU Networking Event of 20/24!
Money20/20 and EU Networking Event of 20/24!Money20/20 and EU Networking Event of 20/24!
Money20/20 and EU Networking Event of 20/24!
 
falcon-invoice-discounting-a-premier-investment-platform-for-superior-returns...
falcon-invoice-discounting-a-premier-investment-platform-for-superior-returns...falcon-invoice-discounting-a-premier-investment-platform-for-superior-returns...
falcon-invoice-discounting-a-premier-investment-platform-for-superior-returns...
 
一比一原版宾夕法尼亚大学毕业证(UPenn毕业证书)学历如何办理
一比一原版宾夕法尼亚大学毕业证(UPenn毕业证书)学历如何办理一比一原版宾夕法尼亚大学毕业证(UPenn毕业证书)学历如何办理
一比一原版宾夕法尼亚大学毕业证(UPenn毕业证书)学历如何办理
 
1比1复刻(ksu毕业证书)美国堪萨斯州立大学毕业证本科文凭证书原版一模一样
1比1复刻(ksu毕业证书)美国堪萨斯州立大学毕业证本科文凭证书原版一模一样1比1复刻(ksu毕业证书)美国堪萨斯州立大学毕业证本科文凭证书原版一模一样
1比1复刻(ksu毕业证书)美国堪萨斯州立大学毕业证本科文凭证书原版一模一样
 
Initial Public Offering (IPO) Process.ppt
Initial Public Offering (IPO) Process.pptInitial Public Offering (IPO) Process.ppt
Initial Public Offering (IPO) Process.ppt
 

An introduction to macroeconomics www.brainwareuniversity.ac.in

  • 1. An Introduction to Macroeconomics: Nature and Scope
  • 2. An Introduction to Macroeconomics: Nature and Scope An Introduction to Macroeconomics: Nature and Scope Macroeconomics covers the entire economy and not just parts of it. Thus, macro-economics is related to study of aggregates like total employment, total output, total consumption, total savings, total investment, national income, aggregate demand, aggregate supply, general price level, etc. As macroeconomics deals with aggregates, it can be also be coined as the theory of income and employment or income analysis. Macroeconomics deal with general welfare and disregards the welfare at individual levels though individual welfare forms an important part of economic study.
  • 3. Let’s not just jump into Macroeconomics and know the basic of economics first. Economics refer to the study of allocation of scarce resources among competing ends which have alternative uses. Now, the thing is that economics is divided into two parts: • Microeconomics • Macroeconomics
  • 4. Macroeconomics covers the entire economy and not just parts of it. Thus, macro- economics is related to study of aggregates like total employment, total output, total consumption, total savings, total investment, national income, aggregate demand, aggregate supply, general price level, etc.
  • 5.
  • 6. • As macroeconomics deals with aggregates, it can be also be coined as the theory of income and employment or income analysis. • Nature The nature relevant to macroeconomics can be understood by the following aspects: Get the details of national income and employment • Macroeconomics deals with aggregate demand and aggregate supply that determines the equilibrium level of income and employment in the economy. • The level of aggregate demand determines the level of income and employment. • Macroeconomics also deals with the problem of unemployment due to lack of aggregate demand.
  • 7. • Recognize general price level Macroeconomics studies the general level of price in an economy. • It also studies the problem related to inflation and deflation • It gives an idea about the various factors that contribute towards the economic growth and development. • Dividing the factors of production • It talks about the various factors that contribute towards the production and their relative share in the total production or total national income.
  • 8. • Scope and significance • Macroeconomics holds a different place in terms of Indian economy production and also national income. • The importance of macroeconomics can be understood from the following points: i) Policy Formulation: • - Macroeconomics plays a very important role in formulating economic policies. Since Government intervention in economic affairs is indispensable in the present economic scenario, the knowledge of aggregates is of great importance in the framing as well as the implementation of economic policies of the nation.
  • 9. ii) Basis For Micro study: • - Macroeconomics provides the basis for microeconomic analysis as the study of aggregates helps to understand and verify the behaviours of individual units. iii) Multi-dimensional Study: • - Macroeconomics has a very wide scope and covers multi- dimensional aspects like population, employment, income, production, distribution, consumption, inflation, etc. • - This is very helpful in controlling fluctuations in these factors.
  • 10. vi) National Income: • - Macroeconomics studies national income accounting which helps to understand the distribution of income among different groups of people. It is also instrumental in forecasting the level of economic activity. v) Special Growth Models: • - Macroeconomics has been useful in developing special growth models. These growth models are applied for economic development because the economics of growth is, in essence, the study of macroeconomics.
  • 11. vi) Monetary Problems: • - Macroeconomics has special significance in studying monetary problems that adversely affect the economy. • - In fact, macroeconomics focuses on the problems of inflation and deflation and their solution by adopting monetary, fiscal and direct control measures.
  • 12.
  • 13. Limitation • - Though macro-economics is essential in economic analysis and has great practical and theoretical importance, it suffers from certain drawbacks or limitation. These are: i) UNREALISTIC ASSUMPTIONS: • - Macroeconomics assumes that the aggregates are homogeneous. Such an assumption is, however, unrealistic.
  • 14. ii) GENERAL ECONOMIC WELFARE: • - Macroeconomics deal with general welfare and disregards the welfare at individual levels though individual welfare forms an important part of economic study. • In spite of many limitations, macroeconomics holds a great practical value and also used globally. It is quite helpful to the economic problems. • Video link: https://www.youtube.com/watch?v=MKO1icFVtDc