Basics of Macroeconomics

Welcome! I'm really looking forward to exploring the big picture of how economies function with you. Before we dive into our first topic, I'd love to learn a little bit about what brings you here so we can make this session as useful as possible.

To help me tailor our sessions, could you tell me a little bit about why you want to learn about macroeconomics, and if you have any prior experience with economics or finance?

I'm preparing for an upcoming class or exam.

It is great to have you here! Preparing for an upcoming class or exam is the perfect motivation to master this material. Since macroeconomics is highly visual and conceptual, we will take it step-by-step, starting with the big picture and using real-world examples to make sure you ace your tests.

Your path

Measuring the Economy: GDP and Inflation

Unemployment and Labor Markets

Economic Fluctuations and Business Cycles

Macroeconomic Policy: Fiscal and Monetary

What is Macroeconomics?

To kick off our first subtopic, let's look at what actually means. While microeconomics zooms in on individual choices — like how you decide to spend your money or how a single business sets its prices — macroeconomics zooms way out. It is the study of the economy as a whole. Think of microeconomics as looking at a single tree, while macroeconomics looks at the entire forest. Instead of studying one consumer, macroeconomists study national consumption. Instead of looking at one business hiring an employee, they look at the national unemployment rate. In macroeconomics, we want to know what makes whole countries grow, why prices overall start climbing, and what governments can do to keep the entire system running smoothly.