Difference between revisions of "Macroeconomics"
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According to [[Principles of Economics by Timothy Taylor (3rd edition)]], | According to [[Principles of Economics by Timothy Taylor (3rd edition)]], | ||
:[[Macroeconomics]]. Branch of [[economics]] that focuses on the [[economy]] as a whole, including issues like growth, unemployment, inflation, and the balance of trade. | :[[Macroeconomics]]. Branch of [[economics]] that focuses on the [[economy]] as a whole, including issues like growth, unemployment, inflation, and the balance of trade. | ||
| + | According to [[Macroeconomics by Mankiw (7th edition)]], | ||
| + | :[[Macroeconometric model]]. A model that uses data and statistical techniques to describe the economy quantitatively, rather than just qualitatively. | ||
[[Category: Economics]][[Category: Articles]] | [[Category: Economics]][[Category: Articles]] | ||
Revision as of 17:36, 2 July 2020
Macroeconomics is the branch of economics that focuses on the economy as a whole, including issues like growth, unemployment, inflation, and the balance of trade.
Definitions
According to Principles of Economics by Timothy Taylor (3rd edition),
- Macroeconomics. Branch of economics that focuses on the economy as a whole, including issues like growth, unemployment, inflation, and the balance of trade.
According to Macroeconomics by Mankiw (7th edition),
- Macroeconometric model. A model that uses data and statistical techniques to describe the economy quantitatively, rather than just qualitatively.
