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Macroeconomics

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Macroeconomics
The branch of Economics that deals with the economy as a whole.
    
Macroeconomics focuses on determinants of total national income, deals with aggregates such as aggregates consumption and investment, and looks at the overall level of prices rather than individual prices.
    
Macroeconomics is a branch of Economics that deals with the performance, structure, and behavior of a national economy as a whole. Macroeconomists seek to understand the determinants of aggregate trends in an economy with particular focus on national income, unemployment, Inflation, investment, and international trade. In contrast, microeconomics is primarily focused on the determination of prices and the role of prices in allocating scarce resources.
    
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.
Posted by  Marcus Evans (ANZ) Limited
 
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