Macroeconomics studies economy as a whole from "summary" of EBOOK: Macroeconomics by Rudiger Dornbusch,Stanley Fischer,Richard Startz
When we talk about macroeconomics, we are referring to the study of the economy as a whole. This means that instead of focusing on individual markets or industries, we are looking at the broader picture of how all these different parts come together to form the larger economy. In other words, macroeconomics is concerned with the big picture - how the overall level of economic activity is determined, what factors influence it, and what policies can be implemented to achieve certain economic goals. This approach allows us to analyze important macroeconomic variables such as gross domestic product (GDP), inflation, unemployment, and interest rates. By studying these variables and how they interact w...
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