What do you mean by Macro Economics

What do you mean by Macro Economics?

Macro Economics is the study of collective data of our economics. In macro economics, we analysis data as a whole like – total employment, national income, GDP, total consumption, total demand and supply etc. macro economic analysis economics as a units, also analysis the inter relationship of different sub-units in a economics.

In macro economics, we not discuss on a single units but treats whole economic as a single units. It draws a big picture of the economics and also draw inter relationship of different sub-units. It covers all the issue or problems of an economy and also tries to find out a correlation with others. 

A study about Macro Economics

Importance of Macro Economics

Ø  In macro economics, we understand the macro variables so it help us to understand the economic in a broad way like total employment, total income, GDP, total demand & supply and so on.

Ø  Micro economic work as a whole. These things help us to form the policy for different sub-units or area like total income in different sector, monetary policy, business cycles and so on.

Ø  Micro economic help us to understand the individual behaviour also, if we add all individual demand it become total demand of an economic and this help us to form a policies for whole.