What is Marco-Economics?

Macro-Economics
It is that branch of economics, which studies the aggregates, and average of the economy and causes of fluctuations in them with a view of focusing on economy as a whole. 

OR

The study of average of the entire economy such as national income, aggregate output, total employment, total consumption, saving and investment of prices.

Areas of Macro-Economics:

The following areas are covered in macro economics.

•  National output and national income.
•  Balance of trade and balance of payment.
•  Internal value of money and external value of money.
•  Savings, investments and employment.
•  Economic growth and economic development.
•  Fluctuations in economic activities i.e. trade or business cycle.
•  Monetary, fiscal and commercial or trade policies.
•  General price level, inflation, deflation and devaluation.
•  Public finance i.e. public revenue, public expenditure, public debt and deficit financing.
•  Aggregate output and aggregate supply of goods and services.
•  Nationalization and privatization of the corporate sector.

     Importance:

• Helpful in understanding the determination of income & employment. 
• Determination of general price level in the economy.
• Information about economic growth and development of the country.
• Helps in the measurement of national income and its disturbution of country.
• Provides knowledge about international trade & business cycle.

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