Macroeconomics

Studying macroeconomics serves as a gateway to work in the Banking Sector, Academia and the Government Sector. As the service sector is a major contributor to the GDP of India, candidates can find a plethora of job opportunities in Corporations and Consultancies. Emphasizing the entire economy, macroeconomics delves into broad trends rather than focusing on individual markets. This practice is crucial for government entities, as it reveals how major decisions could play out not only in the immediate future but also on a long-term basis. Common economics careers and roles include auditor, stockbroker, insurer, business manager, retail merchandiser, pricing analyst, statistician, etc.

Microeconomics and macroeconomics are related but separate approaches to studying the economy. Microeconomics is concerned with the actions of individuals and businesses. Macroeconomics focuses on the actions that governments and countries take to influence broader economies.Microeconomics focuses on issues that affect individuals and companies. Macroeconomics focuses on issues that affect nations and the world economy.Microeconomics concentrates on the behaviour of individual consumers while macroeconomics focuses on the behaviour of firms. Examples of microeconomics are individual demand, individual supply, the theory of the firm, opportunity cost, and consumer theory. Examples of macroeconomics include aggregate demand, aggregate supply, efficiency, investment, unemployment, and inflation.

Macroeconomics is the branch of economics that deals with the structure, performance, behaviour, and decision-making of the whole, or aggregate, economy. John Maynard Keynes was an early 20th-century British economist, best known as the founder of Keynesian economics and the father of modern macroeconomics. The two main areas of macroeconomic research are long-term economic growth and shorter-term business cycles. It deals with the study of various topics such as national income, aggregate demand, and supply, total consumption, total investment, etc. The scope of macroeconomics includes: Giving an understanding of the functioning of the economy.