In this article, we have explained the static and dynamic analysis of macroeconomics. Introduction to Static and Dynamic Analysis of Macroeconomics To construct the economic model, there are two methods static and dynamic. An economic analysis that limits its attention to the final equilibrium position is called ‘statics’ or ‘static’. A static model may be …
An economy that does not involve overseas trade is known as a closed economy and an economy having participates in international integration in the form of trade and flow of capital as well as other resources is known as an open economy. The major differences between a closed economy and an open economy are shown …
Differences between Closed Economy and Open Economy Read More »
The performance and behavior of the economy can be shown and analyzed by different economic variables and these are known as macroeconomic variables. Thus, macroeconomic variables are indicators or pointers that exhibit the situation and trends of the entire economy or show the pattern of the economic status of a country. Macroeconomic variables are crucial …
Macroeconomics is the study of aggregates like national income, national product, total consumption, total saving, total investment, etc. The study of macroeconomics assists to realize the operation of a complicated modern economic system. It defines and describes how the economy functions and how the level of national income and employment is determined based on aggregate …
The word ‘scope’ refers to the range or area covered by anything, any subject, or any topic. Thus, considering this point the term scope of macroeconomics means the topics or issues that are covered by macroeconomics. Macroeconomics has got birth after the publication of J.M. Keynes’s General Theory of Employment, Interest, and Money in 1936. …
Macroeconomics is the part of economics that studies about the economy. The unit to deal in macroeconomics is the entire economy rather than a part of the economy. Thus, macroeconomics deals with the economic problems faced by an economy. Here we will briefly discuss the meaning and features of macroeconomics. Ahuja (2016) states that macroeconomics …
Advanced Macroeconomics by David Romer, Fifth Edition Buy Book
Macroeconomics by Paul Krugman & Robin Wells, Fifth Edition Buy Book
Eighth Edition, Principles of Macroeconomics by N. Gregory Mankiw Buy Book