DEFINITIONS OF MACRO ECONOMICS

        The term macro economics has been derived from Greek word"MAKROS",meaning large.In it,we study the economic system as a whole.

         In other words,Macro economics is the study of aggregates or averages covering entire economy such as total employment,national income ,national output,total investment,total consumption,total saving,aggegate demand,aggregate supply etc.Thus,Macro economics deals with the aggregates and averages of the system rather than with particular units in it.

     DEFINITIONS:-

1- "Macro economics deals not with individuals quantities as such but with aggregate of these quantities ; not with individual income but with natianal income;not with individual price but with price level;not with individual output but with national output."      

                                                                                                          - K.E.Boulding

2."Macro economics concerns itself with such variables as the aggregates volume of the output of any economy,within the extent to which its resources are employed,with the size of the national income,with the general price level."

                                                                                                         -Gardner Ackley

3."Macro economics deals with the functioning of the economy as a whole."

                                                                                                          -Shapiro

4."Macro economics is concerned with the economy as a whole or large segments of it.In Macro economics,attention is focussed on such problems as the level of unemployment,the rate of inflation,the nation's total output and other matters of economy -wide significance."

                                                                                                           -M.H.Spencer