MACROECONOMICS NOTES– Hi, I am Sarvesh Arora. Today i will discuss about MACROECONOMICS NOTES. As we all know there are plethora of factors which effect our company environment such as internal as well as external. Issues which are closely associated with company, for example, supplier, advertisement, buyer are comes under microeconomics. Some factors are beyond the control of management such as political issues, international environment.
These kind of things comes under macroeconomics. The difference between micro and macro economics is simple. Microeconomics is the study of economics at an individual, group or company level. Macroeconomics, on the other hand, is the study of a national economy as a whole. Microeconomics focuses on issues that affect individuals and companies.
In this article, we will discuss about MACROECONOMICS NOTES. To be honest, these MACROECONOMICS NOTES are written by certified writer named C.A. Mukta jain.
LIST OF LESSONS COVERS IN MACROECONOMICS NOTES PDF:
|1||NATIONAL INCOME DETERMINATION|
|2||DETERMINANTS OF CONSUMPTION|
|3||FACTOR OF INVESTMENT|
|4||EMPLOYMENT AND UNEMPLOYMENT|
|6||MEASURE OF CASH SUPPLY|
|7||MONEY AND PRICES|
Myriad of writers analyse the Macroeconomics concept and as per their opinion few definitions are written by them. Here i will discuss introduction with example as well as why macroeconomic analysis is significant.
Macroeconomics describes and explains economic processes that concern aggregates. An aggregate is a multitude of economic subjects that share some common features. By contrast, microeconomics treats economic processes that concern individuals.
Example: The decision of a firm to purchase a new office chair from company X is not a macroeconomic problem. The reaction of Austrian households to an increased rate of capital taxation is a macroeconomic problem.
Why macroeconomics and not only microeconomics ?
The whole is more complex than the sum of independent parts. It is not possible to describe an economy by forming models for all firms and persons and all their cross-effects. Macroeconomics investigates aggregate behavior by imposing simplifying assumptions (“assume there are many identical firms that produce the same good”) but without abstracting from the essential features.
These assumptions are used in order to build macroeconomic models. Typically, such models have three aspects: the ‘story’, the mathematical model, and a graphical representation.
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