Definition

The branch of economics that focuses on the large-scale factors affecting an economy, including national income, total output, and the relationships between different sectors.

Example

Macroeconomics helps us understand how government policies can influence the economy as a whole.

Conversation

Have you ever taken a class on macroeconomics?

No, I haven't, but I've heard it's really interesting.

Yeah, it covers how the economy as a whole functions and affects us daily.

That sounds useful; I might look into it next semester.

Synonyms & Antonyms

Root Explanation

Macroeconomics is formed from "macro-" (from Greek "makros", meaning large) and "economics" (from Greek "oikonomia", meaning household management). The term refers to the branch of economics that studies the behavior and performance of an economy as a whole, focusing on large-scale economic factors.

Memory Tip

Think of 'macro-' meaning large, and 'economics' as the management of resources. This helps you remember that macroeconomics looks at the large-scale aspects of how economies function.

Visually Confused Words