Macroeconomics

It is not that Keynes directly the amount of attention given to microeconomics, rather his work and modelling was about macroeconomic matters, and since these are more profound, it was natural for many economists to concentrate on these issues.

Micro

The early writers who at the time chose to call it Political Science, such as Adam Smith.

Micro: behavior of households and firms. Macro: economy wide issues such as unemployment, inflation, econ. growth/development.

The production and distribution of goods and services as seen from the perspective of a government or other controlling body who can take in the whole picture of the national economy.

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While microeconomics deal with the operations of individual firms and markets, macroeconomics examines how numerous markets interact with the government and each other in the regional, national, and sometimes international realms

all parts

The scope of Scope of Macro Economics can be studied in the following theories :-

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 Growth .

uhm it looks like cqu eco assignment 1 question .

The study of economics from a broad perspective of the resources and factors of production in an economy

Yes.

Take a look at "Macroeconomic Issues Today: Alternative Approach".

Table of Contents includes the following issues:

Unemployment: Is Joblessness an Overrated Problem?

Inflation: Can Price Pressures Be Kept Under Control?

Balancing the Federal Budget: Should we be worried about the rising federal deficit?

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Macroeconomic factors are the factors which affect the wider economy. In other words these factors seems to summarize the picture of economy. For example, unemployment, inflation rates, GDP etc. All these tell us about the story of whole economy.

Macroeconomics deals with the economy as a whole. I involves the slowing and growth of the economy as a whole. The whole could be a state or a country. Micro economics deals with economics on a much smaller scale. It could be an individual person, a group of people, or a section of a city. Micro an macro economics tie into each other because what 1 individual or a group of individuals do affects the result on the larger scale.

Opportunity cost

Microeconomics and macroeconomics are related because changes in the overall economy arise from the decisions of millions of individuals. Although they are related, the methods employed in each area differ to the extent they be studied in separate courses or discussions.

Well, Micro Economics deals with an individual's behavior. It deals with individual and market demand and supply and the equilibrium price etc. It will tell you that if you are a consumer, you will compare prices and choose the cheapest product giving you the maximum utility (satisfaction) too. If you are a producer, you will see which product is most profitable to produce. You will take into account cost, revenue, competition. You will deal with forms of market such as monopoly oligopoly etc.

When you talk about Macro Economics, you are talking about the entire economy. National Income, Gross Domestic and Gross National Product etc. You will know the Aggregate Demand and Supply. You will understand foreign exchange, budgeting, banking and the measures to correct inflation and deflation. You will understand about financing deficits etc. Most of this is Keynesian Economics devised during The Great Depression in 1929. Strangely, the Obama government is following many simple laws of Macro Economics to help America out of the economic downturn.

1-Price Stability

2-Consistent economic growth

3-Full employment

4-Good Balance of Payment

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to increase the production of the economy and manage them as a whole.

Explain macroeconomics objectives from the conventional perspective?

"Macroeconomics" refers to the study of how national or regional economies allocate scarce resources. Seeing as this is one of the broadest topics in economics, there are a great many questions that deal with it. These can be questions that ask the difference between different indicators, questions that ask what the monetary policy would be in a given situation, or questions that deal with macroeconomic history. Here are a few sample questions: 1) What is the difference between RGDP and NGDP? 2) What is an example of expansionary fiscal policy? 3) What is one contribution of Keynes to modern fiscal policy? 4) Why is a production possibility curve usually bowed outward?