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Many will disagree, I know, but Macromedia – the makers of MSN and Microsoft Internet Explorer – have it right. In fact, it's what they call” Macro-economic” phenomena. It is a general term for any economic phenomenon that has a broad range of impact on the economy at large. For example, you have inflation that hits everything, from personal purchases to business sales. A macro-economic phenomenon like this can have negative or positive effects on the economy at large.

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Many will disagree, I know, but Macromedia – the makers of MSN and Microsoft Internet Explorer – have it right. In fact, it's what they call” Macro-economic” phenomena. It is a general term for any economic phenomenon that has a broad range of impact on the economy at large. For example, you have inflation that hits everything, from personal purchases to business sales. A macro-economic phenomenon like this can have negative or positive effects on the economy at large.

}

So, just what is macro-economic phenomena? The Wikipedia definition is: “A macro-economic phenomenon is an overall economic effect over time, rather than a topical economic problem. In other words, it is an overall gain in total income over time.”

Obviously, I think that being ” macro-economic “poses no difficulty” in defining it, but what about macro-economic problems? Let's say that unemployment is a macro-economic phenomenon. So, how do we know when to jump off the unemployment bandwagon? When is it best to invest more in your future versus saving for a better tomorrow?

Well, consider this macro-economic phenomenon: Business cycles. As the business cycle rises and falls, with highs and lows, the demand and supply of goods and services affect the prices of those goods and services. In general, it is difficult for consumers to purchase goods and services above their price point. Thus, prices rise. The same holds true for labor; there is a natural tendency for workers to bump the wages they earn up against their employer's rate, as companies struggle to keep the lights on and payroll costs rise.

So, as you can see, the macro-economic phenomena of the business cycle are important for the macro-economists to study. The question then becomes, how do you decide when to invest, save, or invest more? And how do you know what your long term macro-economic effects will be? One of the most fundamental questions one might ask, is what are aggregate macro-economic effects, anyway? Can we say that because the cost of doing business increases, all other macro-economic factors, including, income, output, employment, inflation, deflation, etc., will also increase?

aggregate macro-economic effects are basically just an abstract mathematical model of how the economy works. Now, if we use aggregate economics to predict what effect (if any) changes . . . . . . in interest rates, inflation, unemployment, etc. would have on the economy as a whole, it would make sense to have all these relationships mathematically calculable. Unfortunately, most economists are not able to model these very complex relationships in any meaningful way. Thus, any potential macro-economic insights are essentially ignored by mainstream macro-economic theory.

Topic: Macroeconomics - ppt download - macro-economic what is it
Topic: Macroeconomics – ppt download – macro-economic what is it | macro-economic what is it

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