You searched for: “macroeconomics
macroeconomics
1. A branch of economics that focuses on the general features and processes that make up a national economy and the ways in which different segments of the economy are connected (takes a singular verb).
2. A branch of economics dealing with the broad and general aspects of an economy; such as, the relationship between the income and investments of a country as a whole.

This is the field of economics that studies the behavior of the aggregate economy including economy-wide phenomena; such as, changes in unemployment, national income, rate of growth, gross domestic product, inflation, and price levels.

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; for example, the current level of unemployment in the economy as a whole will affect the supply of workers which an oil company can hire from.

This entry is located in the following units: eco-, oeco-, oec- (page 5) -ics, -tics [-ac after i] (page 23) macro-, macr- (page 5)