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Macroeconomics is a sub-field of economics that examines the behavior of the economy as a whole, once all of the individual economic decisions of companies and industries have been summed. Economy-wide phenomena considered by macroeconomics include Gross Domestic Product (GDP) and how it is affected by changes in unemployment, national income, rate of growth, and price levels.
juggling>广州礼仪 In contrast, microeconomics is the study of the economic behaviour and decision-making of individual consumers, firms, and industries.
Macroeconomics can be ud to analyze how to influence government policy goals such as economic growth, price stability, full employment and the attainment of a sustainable balance of payments.
Macroeconomics is sometimes ud to refer to a general approach to economic reasoning, which includes long term strategies and rational expectations in aggregate behavior.
神秘病毒 Until the 1930s most economic analysis did not parate out individual economics behavior from aggregate behavior. With the Great Depression of the 1930s, suffered throughout the developed world at the time, and the development of the concept of national income and product statistics, the field of macroeconomics began to expand. Particularly influential were the ideas of John Maynard Keynes, who formulated theories to try to explain the Great Depression. Before that time, comprehensive national accounts, as we know them today, did not exist .
One of the challenges of economics has been a struggle to reconcile macroeconomic and microeconomic models. Starting in the 1950s, macroeconomists developed micro-bad models of macroeconomic behavior (such as the consumption function). Dutch economist Jan Tinbergen developed the first comprehensive national macroeconomic model, which he first built for the Netherlands and later applied to the United States and the United Kingdom after World War II. The first global macroeconomic model, Wharton Econometric Forecasting Associates LINK project, was initiated by Lawrence Klein and was mentioned in his citation for the Nobel Memorial Prize in Economics in 1980.
Theorists such as Robert Lucas Jr suggested (in the 1970s) that at least some traditional Keynesian (after British economist John Maynard Keynes) macroeconomic models were questionable as they were not derived from assumptions about individual behavior, although it was not clear whether the failures were in microeconomic assumptions or in macroeconomic models. However, New Keynesian macroeconomics has generally prented microeconomic models to shore up their macroeconomic theorizing, and some Keynesians have contested the idea that microeconomic foundations are esntial, if the model is analytically uful. An analogy might be that the fact that quantum phisics is not fully consistent with relativity theory doesn´t mean that realtivity is fal. Many important microeconomic assumptions have never been proved, and some have proved wrong.
雅思成绩有效期 The various schools of thought are not always in direct competition with one another - even though they sometimes reach differing conclusions. Macroeconomics is an ever evolving area of rearch. The goal of economic rearch is not to be "right," but rather to be accurate. It is likely that none of the current schools of economic thought perfectly cap
英语成语故事ture the workings of the economy. They do, however, each contribute a small piece of the overall puzzle. As one learns more about each school of thought, it is possible to combine aspects of each in order to reach an informed synthesis.九年级上册英语书
The traditional distinction is between two different approaches to economics: Keynesian economics, focusing on demand; and supply-side (or neo-classical) economics, focusing on supply. Neither view is typically endord to the complete exclusion of the other, but most schools do tend clearly to emphasize one or the other as a theoretical foundation.
• Keynesian economics focus on aggregate demand to explain levels of unemployment and the business cycle. That is, business cycle fluctuations should be reduced through fiscal policy (the government spends more or less depending on the situation) and monetary policy. Early Keynesian macroeconomics was "activist," calling for regular u of policy to stabilize the capitalist economy, while some Keynesians called for the u of incomes policies.
• Supply-side economics delineates quite clearly the roles of monetary policy and fiscal
policy. The focus for monetary policy should be purely on the price of money as determined by the supply of money and the demand for money. It advocates a monetary policy that directly targets the value of money and does not target interest rates at all. Typically the value of money is measured by reference to gold or some other reference. The focus of fiscal policy is to rai revenue for worthy government investments with a clear recognition of the impact that taxation has on domestic trade. It places heavy emphasis on Say's law, which states that recessions do not occur becau of failure in demand or lack of money.
