Macroeconomics is a branch of economics dealing with the decision-making of an economy . In the following presentation, I have stated some important concepts Macroeconomics. which can help an individual to enhance his knowledge in economics.
2. Macroeconomics closely examines the economy as a
whole and gives an answer to questions such as
‘What causes the economy to continuously grow over
time?’
‘What causes some short-run fluctuations in the
economy?
‘What in particular influences the values various
economic indicators and how does these indicators
affect overall economic performance?
3. Macroeconomics can be best understood in comparison to
the microeconomics which considers all the decisions
made at an individual or at the firm level.
Macroeconomics basically considers the larger picture, or
how all of these decisions look together. A basic
understanding of microeconomics is very crucial to clearly
understand macroeconomics.
4. To understand why some change in interest rates leads to
the changes in real GDP, we need to first understand how
lower interest rates influences general buying decisions,
such as decisions of how much to save and spend, at the
firm or at the household level.
Once we have understood
• how an individual
• in general
• will change his/her behaviour
• we will then slowly understand the large scale
relationships in the economy
5. Likewise most of the definitions in economics, there are
several competing definitions of the term
Macroeconomics.
Browsing the web, we will be finding various answers to
this question:
What is Macroeconomics?
How Others have defined Macroeconomics
Source:
http://www.economicsassignmenthelp.net/microeconomic
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6. Perhaps the most basic answer to the question
“What is Macroeconomics ?”
can be found at the site WordReference.com. They have
stated that “Macroeconomics is that particular branch of
economics, which is concerned with all the aggregates,
such as national income, investment and consumption.
The Economist’s Dictionary of Economics has defined
Macroeconomics as
“The study of whole financial systems aggregating over the
performance of individual economic units
7. It is chiefly concerned with variables which pursue
systematic and predictable paths of behavior and can be
analyzed independently of the decisions of several
agents who establish their level.
More particularly, it is a study of national economies as
well as the determination of national income.”
Fundamentals of macroeconomics are tough to
understand and difficult to apply.
8. For students facing problems in macroeconomics
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