ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -Definition: Macroeconomics is the branch of economics that studies the behavior and performance of an economy as a whole. It focuses on the aggregate changes in the economy such as unemployment, growth rate, gross domestic product and inflation.

Detailed explanation-2: -Macroeconomics is the study of whole economies–the part of economics concerned with large-scale or general economic factors and how they interact in economies.

Detailed explanation-3: -Economists also look at two realms. There is big-picture macroeconomics, which is concerned with how the overall economy works. It studies such things as employment, gross domestic product, and inflation-the stuff of news stories and government policy debates.

Detailed explanation-4: -The study of macroeconomics involves the study of the factors affecting the economy or society as a whole rather the individual factors. It is also known as aggregate economics.

Detailed explanation-5: -Macroeconomics is a branch of economics that studies how an overall economy-the markets, businesses, consumers, and governments-behave. Macroeconomics examines economy-wide phenomena such as inflation, price levels, rate of economic growth, national income, gross domestic product (GDP), and changes in unemployment.