What is the macroeconomic theory?
i want to know the macroeconomic theory,the objective or goals of the theory.
Answer:
Macroeconomics is a major branch of economics that deals with the performance, structure, and behavior of the economy as a whole (Snowden and Vane 2002). Macroeconomists study and seek to understand the determinants of aggregate trends in the 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 (Blaug 1985).
Macroeconomics is the study of the economy as a whole, rather than the study of individuals. It groups economic agents into very broad categories -- households, firms, the government and financial institutions. The focus is on the way that these groups interact with each other and the way that government policies that can improve these interactions -- fiscal policy, monetary policy, bank regulation, wage policies, etc.
It isn't a single theory or idea.
It is all the theories and ideas that are used to quantify or explain the macro side of the economy (the larger picture if you will).
It deals with models of national income determination, unemployment, inflation, and economic growth. It looks at the domestic economy and international trade.
There are also conflicting models between Monetarists, the New Keynesians, and New Classicals.
It isn't a one-line answer that you can throw about. You may as well ask what is science theory, or what is philosophy theory. There are too many intricacies to be explained here.
Pick up some books and start reading.
Edit: I notice Wikipedia is being quoted earlier on. It is fair enough in gaining you a bit of insight into something, but it is academic suicide to go on quoting it and using it as fact. I really encourage you to pick up books rather than using wikipedia for anything indepth.
macroeconomic
adj. of or pertaining to macroeconomics, pertaining to the branch of economics which studies a nation's economy as a whole
Macroeconomics
Macroeconomics is a sub-field of economics that examines the behavior of the economy as a whole, once all of the individual economic decisions of companies and industries have been summed. Economy-wide phenomena considered by macroeconomics include Gross Domestic Product (GDP) and how it is affected by changes in unemployment, national income, rate of growth, and price levels.
Political Economy Terms: Macroeconomics
The subdivision of the discipline of economics that studies and strives to explain the functioning of the economy as a whole -- the total output of the economy, the overall level of employment or unemployment , movements in the average level of prices (inflation or deflation ), total savings and investment , total consumption and so on. The focus of much of macroeconomic theory is analysis of the ways in which conscious government policies (and the unintended secondary consequences of these policies) can influence the overall "economic health" of the country for good and for ill.
[See also: microeconomics , aggregate demand , aggregate supply , gross national product , gross domestic product , fiscal policy , monetary policy , business cycle , inflation , unemployment rate , savings , investment , economics , political economy ]
The only thing I ever liked in college!!
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Answer:
Macroeconomics is a major branch of economics that deals with the performance, structure, and behavior of the economy as a whole (Snowden and Vane 2002). Macroeconomists study and seek to understand the determinants of aggregate trends in the 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 (Blaug 1985).
Macroeconomics is the study of the economy as a whole, rather than the study of individuals. It groups economic agents into very broad categories -- households, firms, the government and financial institutions. The focus is on the way that these groups interact with each other and the way that government policies that can improve these interactions -- fiscal policy, monetary policy, bank regulation, wage policies, etc.
It isn't a single theory or idea.
It is all the theories and ideas that are used to quantify or explain the macro side of the economy (the larger picture if you will).
It deals with models of national income determination, unemployment, inflation, and economic growth. It looks at the domestic economy and international trade.
There are also conflicting models between Monetarists, the New Keynesians, and New Classicals.
It isn't a one-line answer that you can throw about. You may as well ask what is science theory, or what is philosophy theory. There are too many intricacies to be explained here.
Pick up some books and start reading.
Edit: I notice Wikipedia is being quoted earlier on. It is fair enough in gaining you a bit of insight into something, but it is academic suicide to go on quoting it and using it as fact. I really encourage you to pick up books rather than using wikipedia for anything indepth.
macroeconomic
adj. of or pertaining to macroeconomics, pertaining to the branch of economics which studies a nation's economy as a whole
Macroeconomics
Macroeconomics is a sub-field of economics that examines the behavior of the economy as a whole, once all of the individual economic decisions of companies and industries have been summed. Economy-wide phenomena considered by macroeconomics include Gross Domestic Product (GDP) and how it is affected by changes in unemployment, national income, rate of growth, and price levels.
Political Economy Terms: Macroeconomics
The subdivision of the discipline of economics that studies and strives to explain the functioning of the economy as a whole -- the total output of the economy, the overall level of employment or unemployment , movements in the average level of prices (inflation or deflation ), total savings and investment , total consumption and so on. The focus of much of macroeconomic theory is analysis of the ways in which conscious government policies (and the unintended secondary consequences of these policies) can influence the overall "economic health" of the country for good and for ill.
[See also: microeconomics , aggregate demand , aggregate supply , gross national product , gross domestic product , fiscal policy , monetary policy , business cycle , inflation , unemployment rate , savings , investment , economics , political economy ]
The only thing I ever liked in college!!
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