Books /A Practical Approach to Macroeconomics

9798893661415

States Academic Press

English

2025

100

USD 157.95

Macroeconomics is the branch of economics that examines the economy of a nation or region as a whole, focusing on large-scale economic factors. It analyzes the aggregate effects of individual economic decisions on key indicators such as Gross Domestic Product (GDP), the Consumer Price Index (CPI), unemployment rates, and international trade. GDP represents the total monetary value of goods and services produced within a country over a specific period- typically a year. The CPI measures the average change in prices paid by consumers for a fixed basket of goods and services, reflecting inflation trends. Key economic models studied in macroeconomics include the aggregate-demand/aggregate-supply model, the IS-LM model, and growth models. Central to macroeconomic research are the consequences of short-term fluctuations in national income and the factors that determine long-term economic growth. Over recent decades, various economic schools of thought, such as Keynesianism, Monetarism, and Austrian Economics, have presented differing perspectives on macroeconomic dynamics. Modern monetary and fiscal policies often draw on a blend of these theories. The topics included in this book on macroeconomics are of utmost significance and bound to provide incredible insights to readers. Such selected concepts that redefine the discipline have been presented in here. This book is a complete source of knowledge on the present status of this important field.