Macroeconomics = Structure, dynamic adjustment and performance of national economies, in other words, the big picture. Also looking at government policies that affect the national economic performances
6 major issues of macroeconomics:
1. Long term economic growth - what determines, how fast a country can grow over a long, sustained periods of time.
2. Business cycles/fluctuations - ups & downs of the economy.
3. Unemployment - Why are people unemployed, what determines whether the unemployment rate goes up or down.
4. Inflation - high/low, what causes it to move up or move down?
5. International economies - Does it make a difference whether we have economic linkages/connections to economies in other parts of the world?
6. Macroeconomic policy (government policies) - What can the government do to influence all of the above vaiables.
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