What is the study of aggregate economic behavior called?

Question

What is the study of aggregate economic behavior called? What makes unemployment countercyclical? What is a simplified description of reality that abstracts from irrelevant details to focus on key issues?

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Week of 1/25 -1/27 Intermediate Macroeconomics   1/25/2016     I.     Macroeconomics – The study of aggregate economic behavior. Macro =           aggregate               Macro Things                    GDP  ≡ income                      price level (e.g., CPI)  inflation (% change in price level)                    employment/unemployment                    capital → accumulation of capital is investment                     consumption/savings                    taxes                    aggregate government expenditures                     monetary policy                    interest rates                    exchange rates                     trade balance     II.    Basic Facts & Questions           A. Income  ≡ GDP

What is the study of aggregate economic behavior called?

What is the study of aggregate economic behavior called?
Description

School: University of Memphis

Department: Economics

Course: Macroeconomic Theory

Professor: Smith

Term: Spring 2016

Tags: Economics, Macroeconomics, Math, Graphs, and First week

Cost: 25

Name: 1st week of macro theory notes

Description: These are the first week notes of macro theory (intermediate Macroeconomics).

Uploaded: 02/04/2016

What is the study of aggregate economic behavior called?

What is the study of aggregate economic behavior called? Description

School: University of Memphis

Department: Economics

Course: Macroeconomic Theory

Professor: Smith

Term: Spring 2016

Tags: Economics, Macroeconomics, Math, Graphs, and First week

Cost: 25

Name: 1st week of macro theory notes

Description: These are the first week notes of macro theory (intermediate Macroeconomics).

Uploaded: 02/04/2016

What is the study of aggregate economic behavior called?
Description