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Macroeconomics As A Subject
Macroeconomics is a field of economics that deals with performance, structures, behaviour, and decision making process of the entire economy like regional, national or global. It is different from Microeconomics because Macroeconomics deals with a wider implication, society at large. It handles issues such as unemployment rates, GDP, inflation and similar aspects. Hence, it is the study of economy at wide perspectives and the factors of production in an entire economy. Macroeconomics is a vast field of study, it consists of both short term planning of an economy and long term planning of an economy. Macroeconomics is used by government and large organizations to understand and implement the development and assessment of various economic policies and business strategies. It includes the relationship of several factors such as national income, unemployment, consumption, savings, output, inflation, investment, international trade, international finance and relationships between various other economic sectors.
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