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Audio Help [mak-roh-ek-uh-nom-iks, -ee-kuh-] Pronunciation Key ) | the branch of economics dealing with the broad and general aspects of an economy, as the relationship between the income and investments of a country as a whole. |
| Dictionary.com Unabridged (v 1.1) Based on the Random House Unabridged Dictionary, © Random House, Inc. 2006. |
Macroeconomics
To learn more about Macroeconomics visit Britannica.com
| © 2008 Encyclopædia Britannica, Inc. |
| mac·ro·ec·o·nom·ics
Audio Help (māk'rō-ěk'ə-nŏm'ĭks, -ē'kə-) Pronunciation Key
n. (used with a sing. verb) The study of the overall aspects and workings of a national economy, such as income, output, and the interrelationship among diverse economic sectors. mac'ro·ec'o·nom'ic adj., mac'ro·e·con'o·mist (-ĭ-kŏn'ə-mĭst) n. |
| The American Heritage® Dictionary of the English Language, Fourth Edition Copyright © 2006 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved. |
| macroeconomics | |
noun | |
| the branch of economics that studies the overall working of a national economy |
| WordNet® 3.0, © 2006 by Princeton University. |
macroeconomics
The part of economic theory that deals with aggregates, such as national income, total employment, and total consumption. (Compare microeconomics.)
[Chapter:] Business and Economics
| The American Heritage® New Dictionary of Cultural Literacy, Third Edition Copyright © 2005 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved. |
Macroeconomics
The field of economics that studies the behavior of the aggregate economy. Macroeconomics examines economy-wide phenomena such as changes in unemployment, national income, rate of growth, gross domestic product, inflation and price levels.
Investopedia Commentary
Macroeconomics is focused on the movement and trends in the economy as a whole, while in microeconomics the focus is placed on factors that affect the decisions made by firms and individuals. The factors that are studied by macro and micro will often influence each other, such as the current level of unemployment in the economy as a whole will affect the supply of workers which an oil company can hire from, for example.
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See also: Classical Economics, Dismal Science, Economics, Gross Domestic Product - GDP, Microeconomics, Unemployment Rate
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