Macroeconomics

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Macroeconomics

Analysis of a country's economy as a whole.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.

Macroeconomics

The study of an economy in its largest sense. That is, macroeconomics studies gross domestic product, unemployment, inflation, and similar matters. It does not look at the function of individual companies and only tangentially studies individual industries. It is useful in helping determine the aggregate effect of certain policies on an economy as a whole. See also: Microeconomics.
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macroeconomics

the branch of economics concerned with the study of aggregate economic activity. Macroeconomic analysis investigates how the economy as a whole ‘works’ and seeks to identify strategic determinants of the levels of national income and output, employment and prices. See CIRCULAR FLOW OF NATIONAL INCOME MODEL, EQUILIBRIUM LEVEL OF NATIONAL INCOME, INTERNAL-EXTERNAL BALANCE MODEL, MACROECONOMIC POLICY, MICROECONOMICS.
Collins Dictionary of Economics, 4th ed. © C. Pass, B. Lowes, L. Davies 2005
References in periodicals archive ?
Similarly Richard Layard, an eminent economist associated with London School of Economics with firm belief of the fact that economic as a social science is meant for maximizing happiness for well being particularly of disadvantaged segments of society has vehemently stated in his book 'unemployment, macro economics performance and labor market' that economic growth promotes well being and happiness, but according to him "variable factors like health, personal freedom and strength of peoples' social support drive much of the association of GDP per capita with well being".
Professor Peter Stoney, senior fellow in macro economics at Liverpool University, told the ECHO: ``The arithmetic is straightforward.
His understanding of macro economics is truly breathtaking.
Demographics and macro economics give us pause to project a very fractured picture of what the nation's housing market will be at the beginning of the 21st Century.
He holds Master's degree in Public Administration from Kennedy School of Government, Harvard University with Courses in Economics including macro economics.