[mak-roh-ek-uh-nom-iks, -ee-kuh-] 
) | 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. |
[mak-roh-i-kon-uh-mist] , noun | mac·ro·ec·o·nom·ics (māk'rō-ěk'ə-nŏm'ĭks, -ē'kə-) 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 part of economic theory that deals with aggregates, such as national income, total employment, and total consumption. (Compare microeconomics.)
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.
Related Links
Macroeconomic Analysis
Economics Basics Tutorial
Economic Indicators to Know
Hairline Fractures: Exploring The Dismal Science
See also: Classical Economics, Dismal Science, Economics, Gross Domestic Product - GDP, Microeconomics, Unemployment Rate
