Economics > Summary > HRD 2207: MACROECONOMICS HANDOUT 1 Basic Concepts and Scope of Macroeconomic Analysis (All)
HRD 2207: MACROECONOMICS HANDOUT 1 Basic Concepts and Scope of Macroeconomic Analysis
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HRD 2207: MACROECONOMICS HANDOUT 1 Basic Concepts and Scope of Macroeconomic Analysis Macroeconomics is the branch of economics that attempts to analyze and explain the interrelationships between ... aggregate (totals) variables such as output, employment, interest rates, money and prices in the economy. These are the key variables that determine economic activities and the level of national income in an economy. Macroeconomics, therefore, analyzes the performance of the economy as a whole. It is that part of economic theory which studies the economy in its totality or as a whole. It studies not individual economic units like a household, a firm or an industry but the whole economic system. Macroeconomics is the study of aggregates and averages of the entire economy [Show More]
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