Microeconomics ( From The Greek Prefix Meaning, Large, And...

Summary Macroeconomics (from the Greek prefix macro- meaning large and economics) is a branch of economics dealing with the performance, structure, behaviour, and decision-making of an economy as a whole, rather than individual markets. This includes national, regional, and global economies.[1][2] With microeconomics, macroeconomics is one of the two most general fields in economics. Macroeconomists study aggregated indicators such as GDP, unemployment rates, and price index, and the interrelations among the different sectors of the economy, to better understand how the whole economy functions. Macroeconomists develop models that explain the relationship between such factors as national income,†¦show more content†¦Macroeconomic Performances Introduction Economics is the social science that seeks to describe the factors which determine the production, distribution and consumption of goods and services. Economics focuses on the behaviour and interactions of economic agents and how economies work. Consistent with this focus, primary textbooks often distinguish between microeconomics and macroeconomics(wiki). Microeconomics examines the behaviour of basic elements in the economy, including individual agents and markets, their interactions, and the outcomes of interactions. Individual agents may include, for example, households, firms, buyers, and sellers. Macroeconomics analyses the entire economy (meaning aggregated production, consumption, savings, and investment) and issues affecting it, including unemployment of resources (labor, capital, and land), inflation, economic growth, and the public policies that address these issues (monetary, fiscal, and other policies). Evaluation of macroeconomic performance The macroeconomic performance of a given country is evaluated by two primary tools, the fiscal and monetary policies. Fiscal policies are the economic policies that are formulated by the government to stimulate economic growth in the country (Argy, 2013). It primarily