Macroeconomics - Definition

The field of economics that studies the behaviour of the Aggregate economy. Macroeconomics is a very general field that concerns itself primarily with large scale indicators, such as unemployment rates, and with the creation of models meant to explain relationships between those indicators. Macroeconomics descended from the once divided fields of business cycle theory and monetary theory.

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 (the business cycle), and the attempt to understand the determinants of Long-run economic growth (increases in national income). 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.



Terms near "Macroeconomics"

MACRS
MAD
Maggie Mae (MGIC)
Mail-order catalogue
Mainstream corporation tax
Maintenance (Margin)
Maintenance bond
Maintenance call
Maintenance fee
Maintenance margin requirement
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