Basics of Macroeconomics
Welcome to the study of macroeconomics! I'm excited to help you explore how whole economic systems function.
To make sure we tailor this journey to your unique goals and experiences, tell me: what draws you to macroeconomics, and do you have any previous background in economics?
I have a bit of business/finance background and want to understand the big picture better.
It is great to have you here! Since you already understand the fundamentals of business and finance, you are in a perfect position to grasp how these individual pieces connect to form the larger picture. We are going to scale that knowledge up to look at the entire economic landscape.
Your path
Measuring Economic Performance
Macroeconomic Models: Aggregate Demand and Aggregate Supply
Policy Tools: Fiscal and Monetary Policy
Zooming Out: Macro vs. Micro
To understand the "big picture," we first have to draw a line between the two main halves of economic study: microeconomics and macroeconomics.
Think of as analyzing a single leaf or a specific tree. It looks at how an individual business sets its prices, how a household decides to budget, or how a specific industry reacts to a tax. You are likely very familiar with this perspective from the business world, where the focus is on optimizing a single firm's operations and navigating its immediate market.
, on the other hand, is like stepping back to look at the health of the entire forest. Instead of studying why one company is hiring, macroeconomics asks why millions of people across the country are unemployed. Instead of looking at the price of a single product like software or steel, it measures how the general price level of everything in the country is changing.