1. The document provides an introduction to macroeconomics, including definitions and key concepts. 2. It discusses important early economists like Adam Smith, Keynes, and Ragner Frisch, with Frisch coining the terms "microeconomics" and "macroeconomics". 3. The scope and importance of macroeconomics is outlined, including topics like national income, employment, price levels, economic growth, and how it helps understand the economy and form economic policies.

1. ECONOMICS Group=3

2. Group Member’s Boys Mathew J Vettickal Jobin Sebastian Akhil Raju Sreejith Anandhu Ajmal v a Johnson Girls Neenu Kuruvila Nimmy Kuruvila Delna Prasad Ramya v p Chinnu Susmitha Bibi mol Merly jacob

3. CHAPTER=7 INTRODUCTION TO MACRO ECONOMICS

4. ADAM SMITH The Father of Economics

5. keynes Father of Micro Economics & Macro Economics

6. RAGNER FRISCH “The words Micro Economics and Macro Economics were coined by the economist”RAGNER FRISCH

7. K.E.BOULDINGdefines macro economics in the following words:“Macro economics deals not with individual quantities but with aggregates of these quantities , not with individual Incomes, but with national income, not with individual prices, but with price levels, not with individual output, but with national output.”

9. Employment

10. Price level (inflation & deflation)

11. Trade cycles

12. Monetary and Fiscal policies

13. Economic growth

15. J.B.say “Supply creates its own demand”