Macroeconomic Activity

Concept of Macroeconomic Activity

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Carys Brown

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What is Macroeconomic Activity?
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Microeconomics studies the behaviour of individual households or firms, and addresses the effect of demand and supply. Comparatively, Macroeconomics describes the study of the economy as a whole. It focusses on why the economy grows and why economic activity fluctuates over time. Economists are concerned with economic growth, inflation, unemployment and the government policies developed in response to those changes.

 An understanding of macroeconomic concepts allows people to understand economic events and explain how they affect our lives, jobs, income and businesses. Ultimately, it affects economic decisions and spending confidence. For students like you, understanding macroeconomics can influence when you should switch jobs, start looking for a house or when you should hit to stock market.

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Concept of Macroeconomic Activity
Circular Flow of Income Model
Total Spending, Income and Output
Equilibrium, Injections and Leakages
Effects of Injections and Leakages on Income
Components of Aggregate Expenditure
Factors that affect Consumption
Factors that affect Investment
Factors that affect Government Spending and Net Exports
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