All Courses
Explore Courses UPSC Exam UPSC Test Series Free Notes EduRev Infinity Get the App Login Join for Free
Sign in Open App
Commerce Exam  >  Commerce Questions  >  scope of macroeconomic Related: All about Ma... Start Learning for Free
SaveJoin the Discussion on the App
scope of macroeconomic
?
Clear all your Commerce doubts with EduRev
Verified Answer
scope of macroeconomic Related: All about Macroeconomics-Overview - E...
It is that part of economic theory which studies the economy in its totality or as a whole.
It studies not individual economic units like a household, a firm or an industry but the whole economic system. Macroeconomics is the study of aggregates and averages of the entire economy.
Such aggregates are national income, total employment, aggregate savings and investment, aggregate demand, aggregate supply general price level, etc.

Here, we study how these aggregates and averages of the economy as a whole are determined and what causes fluctuations in them. Having understood the determinants, the aim is how to ensure the maximum level of income and employment in a country.

In short, macroeconomics is the study of national aggregates or economy-wide aggregates. In a way it is like study of economic forest as distinguished from trees that comprise the forest. Main tools of its analysis are aggregate demand and aggregate supply.
This question is part of UPSC exam. View all Commerce courses
Explore Courses for Commerce exam

Similar Commerce Doubts

Read the following passage and answer on the basis of the same :The subject-matter of economics is divided into two major branches—Microeconomics and Macroeconomics. Microeconomics studies the economic behaviour of individual economic units and individual economic variables, whereas macroeconomics deals with the functioning of the economy as a whole. Macroeconomics dealswith the broad economic aggregates or bigger issues, such as full employment, unemployment, full capacity, under capacity production, inflation or deflation, etc. Macroeconomics is concerned with the theory of national income, employment, aggregate consumption, savings and investment, general price level, economic growth, etc. Whereas, microeconomics is concerned with the theory of product pricing, factor pricing and consumer behaviour, etc.Positive economics is the branch of economics that concerns the description and explanation of economic phenomena. It focuses on facts and cause and effect behavioural relationships and includes the development and testing of economic theories. Positive economics is objective and facts based. Whereas normative economics is a part of economics that expresses value or normative judgments about economic fairness or what the outcome of the economy or goals of public policy ought to be. Normative economics is subjective and value based.For example, the statement, “government-provided healthcare increases public expenditures” is a positive economic statement and the statement, “government should provide basic healthcare to all citizens” is a normative economic statement.Q. Macroeconomics is concerned with the theory of national income, employment, aggregate consumption, savings and investment, general price level, economic growth.

Top Courses for CommerceView all

Top Courses for Commerce

scope of macroeconomic Related: All about Macroeconomics-Overview - Economics?
Question Description
scope of macroeconomic Related: All about Macroeconomics-Overview - Economics? for Commerce 2024 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about scope of macroeconomic Related: All about Macroeconomics-Overview - Economics? covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for scope of macroeconomic Related: All about Macroeconomics-Overview - Economics?.
Solutions for scope of macroeconomic Related: All about Macroeconomics-Overview - Economics? in English & in Hindi are available as part of our courses for Commerce. Download more important topics, notes, lectures and mock test series for Commerce Exam by signing up for free.
Here you can find the meaning of scope of macroeconomic Related: All about Macroeconomics-Overview - Economics? defined & explained in the simplest way possible. Besides giving the explanation of scope of macroeconomic Related: All about Macroeconomics-Overview - Economics?, a detailed solution for scope of macroeconomic Related: All about Macroeconomics-Overview - Economics? has been provided alongside types of scope of macroeconomic Related: All about Macroeconomics-Overview - Economics? theory, EduRev gives you an ample number of questions to practice scope of macroeconomic Related: All about Macroeconomics-Overview - Economics? tests, examples and also practice Commerce tests.
Explore Courses for Commerce exam

Top Courses for Commerce

Explore Courses

Suggested Free Tests

Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
10M+ students study on EduRev
Get App
© EduRev
Education Revolution
Signup to see your scores go up within 7 days!
Access 1000+ FREE Docs, Videos and Tests
Takes less than 10 seconds to signup