The study of the entire economy in terms of the total amount of goods and services produced, total income earned, the level of employment of productive resources, and the general behavior of prices
Microeconomics studies how individuals and businesses make decisions and how these decisions affect the prices and output of goods and services In contrast, macroeconomics is the study of aggregates of individuals, prices and output for whole markets
the study of large economic systems such as those of a whole country or area of the world microeconomics. Study of the entire economy in terms of the total amount of goods and services produced, total income earned, level of employment of productive resources, and general behaviour of prices. Until the 1930s, most economic analysis focused on specific firms and industries. The aftermath of the Great Depression and the development of national income and production statistics brought new interest to the field of macroeconomics. The goals of macroeconomic policy include economic growth, price stability, and full employment. See also microeconomics; national income accounting
The study of the sum total of economic activity, dealing with the issues of growth, inflation0 and unemployment and with national economic policies relating to these issues
That area of economics that focuses on analysis of broad trends in a country's economy Key components of macroeconomics are monetary policy and fiscal policy
Macroeconomics is the branch of economics that analyzes patterns of change in aggregate economic indicators such as national product, the money supply, and the balance of payments Governments attempt to influence these indicators by implementing macroeconomic policies
The branch of economic theory concerned with the economy as a whole It deals with large aggregates such as total output, rather than with the behaviour of individual consumers and firms
The study of aggregate economic variables such as national income, employment, interest rates, exchange rates, and prices Often because of aggregation, index numbers are used to represent macroeconomic variables Examples are the unemployment rate, the trade-weighted exchange rate, and the consumer price index
The study of economics in terms of whole systems with reference to general levels of output and income and to the interrelations among sectors of the economy See also microeconomics
the branch of economics that examines the workings and problems of the economy as a whole, such as economic growth, inflation, unemployment and economic fluctuations (chapter 1)
The branch of economics that considers the relationships among broad economic aggregates such as national income, total volumes of saving, investment, consumption expenditure, employment, and money supply It is also concerned with determinants of the magnitudes of these aggregates and their rates of change over time
That part of economics which is primarily concerned with the study of relationships between national economic aggregates, such as national income, savings, expenditure, inflation, balance of payments, etc