the branch of economics that studies the overall working of a national economy
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.
Macroeconomics is a branch of economics dealing with the performance, structure, behavior, and decision-making of an economy as a whole, rather than individual markets. This includes national, regional, and global economies. With microeconomics, macroeconomics is one of the two most general fields in economics. Macroeconomists study aggregated indicators such as GDP, unemployment rates, and price indices to understand how the whole economy functions. Macroeconomists develop models that explain the relationship between such factors as national income, output, consumption, unemployment, inflation, savings, investment, international trade and international finance. In contrast, microeconomics is primarily focused on the actions of individual agents, such as firms and consumers, and how their behavior determines prices and quantities in specific markets. While macroeconomics is a broad field of study, there are two areas of research that are emblematic of the discipline: the attempt to understand the causes and consequences of short-run fluctuations in national income, and the attempt to understand the determinants of long-run economic growth. Macroeconomic models and their forecasts are used by both governments and large corporations to assist in the development and evaluation of economic policy and business strategy.
The numerical value of macroeconomics in Chaldean Numerology is: 1
The numerical value of macroeconomics in Pythagorean Numerology is: 2
Sample Sentences & Example Usage
The economic peaks and valleys that the global diamond market experienced over the last few years are steady, at least for the time being, but the industry cannot afford to get too comfortable, macroeconomics, along with other factors - financing, marketing challenges, undisclosed synthetic diamonds, environmental concerns, social awareness, and even country-specific preferences - stand in the way of an easy, straight path to sustained diamond industry growth over the long-term.
Images & Illustrations of macroeconomics
Translations for macroeconomics
From our Multilingual Translation Dictionary
- ekonomi makroIdo
- макроекономија, makroekonomijaSerbo-Croatian
Get even more translations for macroeconomics »
Find a translation for the macroeconomics definition in other languages:
Select another language:
Discuss these macroeconomics definitions with the community:
Word of the Day
Would you like us to send you a FREE new word definition delivered to your inbox daily?
Use the citation below to add this definition to your bibliography:
"macroeconomics." Definitions.net. STANDS4 LLC, 2017. Web. 20 Sep. 2017. <http://www.definitions.net/definition/macroeconomics>.