ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -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-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: -The study of the economy as a whole is called macroeconomics.

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 in its modern form is often defined as starting with John Maynard Keynes and his theories about market behavior and governmental policies in the 1930s; several schools of thought have developed since.