Macro Economics
Macro Economics deals with the larger aspects of nation's economy such as sectors of agriculture, industry and Service. It is also known as General Theory or Income Theory. It is developed by J.M.Keynes. The Term Macro is derived from the greek word 'Macros' which has the meaning 'Large'. The analysis of total production and resource management is how connected with price, Interest rate, salary and profit is called as Macro Economics. Macro Economics is the total study of economy. It is also called as Aggregate Economics. The aggregate information handled on Macro Economics are Aggregate Demand, Aggregate Expenditure and Full Employment.
Example - The Total Income (National Income/ Gross Expenditure/ Gross Employment) of a Country.
The study area of Macro Economics
1. The Methods of measuring National Income
2. Employment, Unemployment, Labour Rules
3. Supply and Demand of Money, Monetary Policy
4. Fiscal Policy
5. International Trade
6. The Theories of Economic Growth
Macro Economics has two main Features
1. Make up of decisions of Macro Economics. Example - In India Government, RBI, SEBI and other same offices take decisions
2. The decisions taken by Offices on Macro Economics. Example - The more effective management of economic resources for attaining general aims, aims on general welfare of nation.
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