Definition
The study of the economy on an aggregate level. Macroeconomics looks at economy-wide phenomena and the economy as a whole.
Example
Some of he topics that are covered in macroeconomics include: Monetary and fiscal policy and its effects, taxes, interest rates economic trends, economic growth, trade and globalization.
Relevance
Macroeconomics is one of the two major branches of economic studies. By analyzing the behavior of the economy as a whole, it provides important information on economic coherences and allows to influence the economy to benefit society.
Labels: Dictionary, Macroeconomics