What Is Macroeconomics And What Does It Study?
Macroeconomics is that part of economics that studies how an overall economy of a country performs and behaves. Phenomenons such as inflation, national income, price levels, gross domestic product (GDP) and rise and fall in unemployment are studied under macroeconomics.
Macroeconomics studies the factors that are responsible for stimulating the economic growth of a country, what causes inflation? what are the factors that result in unemployment? and what can be the possible factors to strengthen the economy.
The study of macroeconomics involves measuring how well an economy is performing and understanding the forces that lead to the rise and decline in the performance of the economy.
Macroeconomics deals with the structure, performance and behaviour of the entire economy.
Explanation- The study of macroeconomics involves analysing all aggregate indicators and the microeconomic factors that influence the rise and fall of the economy.
Macroeconomic models are used by the government and corporations that help them in formulating strategies and economic policies for the country.