macro economics

Macro economics

macroeconomics is the study of the overall economy. Macroeconomics explain the economic changes that affect many households (household), companies and markets. Macroeconomics can be used to analyze how best to influence policy goals such as economic growth, price stability, employment and achieving a sustainable balance.

Origin of Macroeconomic Concepts

Until 1930 most of the economic analysis focuses on industries and companies. When the Great Depression of the 1930s, and with the development of the concept of national income and product statistics, the field of macroeconomics began to expand. At that time, the ideas which are mainly derived from John Maynard Keynes, who used to explain the concept of aggregate demand fluctuations between production output and the unemployment rate, is very influential in the development of this field. Keynesianism is based on his ideas.

Analytical Approach

Traditional distinction is between two different approaches to economics: Keynesian economics, focusing on demand, and supply-side economics (or neo-classical) that focus on inventory. Both of them can not walk alone, but this is only the problem of emphasis.

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