Macroeconomics(redirected from Macro-economic theory)
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Related to Macro-economic theory: Microeconomic theory
Analysis of a country's economy as a whole.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.
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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macroeconomicsthe 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