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    Introduction To Macro Economics

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    Shaunak Hapse
    Macroeconomics studies whole economies and aggregates rather than individual parts. It examines general price levels, total supply and demand. Macroeconomics considers how variables interact with each other at a macro level. Key areas of macroeconomics include the theories of income and employment, general price levels and inflation, economic growth and development, and distribution of income among groups in an economy. The theories seek to explain and solve issues related to a nation's output, employment, price stability, development, and sharing of total income.

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    Introduction To Macro Economics

    Uploaded by

    Shaunak Hapse
    13 views3 pages
    Macroeconomics studies whole economies and aggregates rather than individual parts. It examines general price levels, total supply and demand. Macroeconomics considers how variables interact with each other at a macro level. Key areas of macroeconomics include the theories of income and employment, general price levels and inflation, economic growth and development, and distribution of income among groups in an economy. The theories seek to explain and solve issues related to a nation's output, employment, price stability, development, and sharing of total income.

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    notes of economics chapter 7

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    Ecnomics Ch7

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    Macroeconomics studies whole economies and aggregates rather than individual parts. It examines general price levels, total supply and demand. Macroeconomics considers how variables interact with each other at a macro level. Key areas of macroeconomics include the theories of income and employment, general price levels and inflation, economic growth and development, and distribution of income among groups in an economy. The theories seek to explain and solve issues related to a nation's output, employment, price stability, development, and sharing of total income.

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    13 views3 pages

    Introduction To Macro Economics

    Uploaded by

    Shaunak Hapse
    Macroeconomics studies whole economies and aggregates rather than individual parts. It examines general price levels, total supply and demand. Macroeconomics considers how variables interact with each other at a macro level. Key areas of macroeconomics include the theories of income and employment, general price levels and inflation, economic growth and development, and distribution of income among groups in an economy. The theories seek to explain and solve issues related to a nation's output, employment, price stability, development, and sharing of total income.

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    of 3

    7.

    Introduction to Macro Economics


    Definitions:-

     Macro-economics :-
    It deals not with individual quantities as such,
    but with aggregates of these quantities, not with
    individual incomes, but with national incomes, not with
    individual prices, but with price level, not with individual
    output but with national output.
     Lumping method:-
    It is the in depth study of whole economy. It
    studies general price level, aggregates of supply,
    aggregates of demand, etc.
     General equilibrium:-
    To explain the behavior of various variables at
    a time and takes into consideration their
    interdependency.
    Subject matters of macroeconomics:-

     Theory of income and employment


    1. Explains the determinants of national income and
    employment.
    2. Explains fluctuations in income, output and
    employment.
    3. This includes theory consumption function and Theory
    of investment.
    4. The above theories are collectively known as Theory of
    fluctuation or Business cycle.
    5. It explains relationship between income and
    employment.
    6. It provides policies to solve the problems related to
    above variables.
     Theory of general price level and inflation
    1. It determines the level of general price.
    2. Explains fluctuation in price.
    3. It studies causes and effects of inflation and depression.
    4. It also suggest economic policies to tackle these
    problems.
     Theory of growth and development
    1. It studies causes of under development and poverty in
    poor countries.
    2. It also gives solution to upgrade such countries.
    3. The theory also deals with many important problems,
    like full utilization of productive capacity in developed
    countries.
     Macro theory of distribution
    1. It studies the shares of various classes in the total
    national income.
    2. It specially studies the shares of workers and capitalists.
    3. It also deal with relative shares of rent, wages, interest
    and profits in total national income.

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