Macroeconomics - Macroeconomics What is Macroeconomics...

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Macroeconomics What is Macroeconomics? Macroeconomicsis the study of the behaviour of large collection of economic agents It analyzes issues associated with long-run growth and business cyclesLong-run growth is the increase in productive capacity and average standard of living Business cycles are the short-run fluctuations in aggregate economic activity Microeconomics is concerned with the choices of economic agents such as households and firms, whereas macroeconomics is concerned with the overall effects on economies of the choices that these economic agents make Important issues in macroeconomics are: Why are some countries are so rich and other are so poor? Why are most Canadians so much better off than their parents and grandparents? Why are there fluctuations in aggregate economic activity? What causes inflation? Why is there unemployment? Macroeconomic Models Macroeconomic models are organized structures to explain: Long-run growth
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  • Spring '11
  • Leatandre
  • Economics, Macroeconomics, economic agents, Microeconomic Principles, aggregate economic activity, macroeconomic models

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