Macro Economics is the branch of economics that deals with the economy as a whole. Or Macro Economics is the study of the behavior of a national or regional economy as a whole.
In the other words, it is the study of very large economy-wide aggregate variables like national income, price, money, employment, economic growth rates, etc.
Two main areas of macroeconomics research are long-term economic growth and shorth term business cycles.
Thus, macroeconomics deals with the phenomena related to the level and growth of national income and employment and various factor governing their trends.
Therefore, macroeconomics is also known as the ” Theory of Income and Employment “.
Scope of Macroeconomics
The area covered by macroeconomics is called the scope of Macroeconomics. We have pointed out the scope of Macroeconomics. Such as
1. Theory of national income.
2. Theory of employment.
3. Theory of money.
4. Theory of general price level
5. Theory of economic growth.
6. Theory of international trade.
