Ask Question, Ask an Expert

+1-415-315-9853

info@mywordsolution.com

Ask Macroeconomics Expert

Macroeconomics considers the performance of economy as a whole. Many macroeconomic issues emerge in press and on evening news on a daily basis. When we study macroeconomics we are looking at topics such as the economic growth; changes in employment, inflation; and the unemployment, our trade performance with the other countries the relative success or the failure of government economic policies and decisions made by Bank of England.

Economic Growth - trends in the national output and the living standards.

Unemployment - causes and the consequences of unemployment and reasons for changing structure of work force.

Inflation - economics of the price inflation - who loses, who gains and what can we do about the inflation?

International trade - does the UK pay its way in the trading with other countries?

Interest rates - should the interest rates fall or rise? How do changes in the interest rates affect the consumers and the  businesses in economy

OBJECTIVES OF THE GOVERNMENT ECONOMIC POLICY

Government management of economy is always a key biased issue - not least at the election time, when government must defend its economic record over previous four-five years. Each government must set the targets and the objectives when it assumes the power - and often, the economic objectives lie right at heart of a government's overall approach.

LABOR GOVERNMENT HAS SOME CURRENT OBJECTIVES:

1) The Stable low inflation with the prices rising at a rate within target range of 1.5% - 2.5% per year.

2) The Sustainable growth - as calculated by the rate of growth of the real Gross Domestic Product.

3) Higher levels of the investment and the productivity - to improve the international competitiveness.

4) The High employment - government wants to achieve the full-employment.

5) The Rising living standards and a fall in the relative scarcity.

6) Sound government finances (including the control over the government borrowing and national debt)

IMPORTANCE OF MACROECONOMICS

We live in a complex and the interconnected world. No one is unaffected by economy. Most of us depend on economy to provide the job or the business opportunities so we can make money to buy services and goods we need to survive and function in the modern society. The study of the macroeconomics allows us to better understand what makes the economy grow and what makes it agreement. A growing economy provides the opportunities for the etter lives, while a contracting economy can be disastrous for the most everyone. The Macroeconomics provides analysis for the proper policy making so that we can nurture and develop the best economy possible.

PRINCIPLES OF MACROECONOMICS

Macroeconomic study focuses on three broad areas and the interrelationships between them. These three concepts affect all participants in an economy, including consumers, workers, producers, and government. Let's look at each of these concepts.

 NATURE OF MACROECONOMICS:

The Macroeconomics is study of averages or aggregates covering entire economy, such as the total employment, national output, national income, total consumption, total investment, aggregate supply, total savings, general price level, aggregate demand, cost structure and wage level.

In the other words, it is the aggregative economics which examines interrelations among a range of aggregates, their determination and the causes of the fluctuations in them. Thus in words of Professor Ackley, "Macroeconomics deals with the economic affairs in large; it concerns the overall dimensions of the economic life. It looks at total shape and size and functioning of "elephant" of the economic experience, rather than the working of articulation or dimensions of individual parts. It studies character of forest, independently of trees which compose it."

LIMITATIONS OF MACROECONOMICS:

There are, however, certain boundaries of the macroeconomic analysis. Mostly, these stem from the attempts to yield the macroeconomic generalizations from the individual experiences.

(1) Fallacy of Composition:

In Macroeconomic analysis "fallacy of the composition" is involved, i.e., the aggregate economic behavior is sum total of the individual activities. But what is true of the individuals is not necessarily true of economy as a whole.

(2) To Regard the Aggregates as Homogeneous:

The main defect in the macro analysis is that it regards aggregates as the homogeneous without caring about their internal composition and the structure. The average wage in a country is sum total of the wages in all the occupations, i.e., typists, wages of clerks, nurses, teachers, etc.

(3) Aggregate Variables may not be Important Necessarily:

The aggregate variables which form economic system may not be of much importance. For instance, national income of a country is total of all the individual incomes. A rise in the national income does not mean that the individual incomes have risen.

 (4) Indiscriminate Use of Macroeconomics Misleading:

An indiscriminate and the uncritical use of the macroeconomics in analyzing problems of real world can often be the misleading. For instance, if the policy measures needed to accomplish and maintain the full employment in economy are applied to the structural unemployment in the individual firms and the industries, they become the irrelevant. Similarly, measures aimed at controlling the general prices cannot be applied with the much advantage for the controlling prices of the individual products.

FIND THE PROFICIENT SUPPORT IN MACROECONOMICS AT THE WORLD'S MOST-TRUSTED PLATFORM

Mywordsolution offers you exactly you need in your Macroeconomics courses if you think that you cannot cope with all the complexities of Macroeconomics. Our team of dedicated Macroeconomics specialists, who have been worked in the Macroeconomics field for a long time, can offer UK, US, Australian, Canadian and word wide students their help in tackling what their Macroeconomics homework and assignment has to offer them. You just need to specify what kind Macroeconomics assignment help you want and what your deadlines are. Once you are done with submission of your Macroeconomics requirement, our specialists or experts will get back on the job, while at the same time promising things like:

  • Research relevant to your area  
  • The best prices   
  • Time on Delivery 
  • Plagiarism free Answers
  • 24x7 Supports
  • End Customer Satisfaction

In addition, the Mywordsolution.com facilitates you to search and find the solution for Macroeconomics questions, or Macroeconomics textbooks problems. You can search the questions in Macroeconomics solution library and download the answers in just little pay of the service.

Economics,Macroeconomics


Recent Macroeconomics Questions

Question according to your textbook in the aggregate supply

Question: According to your textbook in the Aggregate Supply (AS) theory an increase in output leads to an increase in the price level. What is the assumed causality? Explain why this should be considered flawed? The res ...

Question 1 suppose the marginal propensity to consume is 06

Question: 1. Suppose the marginal propensity to consume is 0.6, the marginal tax rate is 0.25, and the the marginal propensity to import is 0.2. What is the multiplier? 2. Suppose that in the economy described in the pre ...

Question consider an online game that is popular in china

Question: Consider an online game that is popular in China. Besides having good skills, players performance also depends on the value of the virtual weapons they have in the game. There are two ways to obtain the virtual ...

Question principles of macroeconomicsworksheet on keynesian

Question: Principles of Macroeconomics Worksheet on Keynesian Demand Management The economy of Trickstoland is currently producing $450 billion of output, while enduring 12% cyclical unemployment. The natural rate of une ...

Question 1 otrue or xfalse1 a trade-off is a principle for

Question: 1. O(True) or X(False) 1. A trade-off is a principle for market activities. 2. A manager's salary is the opportunity cost. 3. A trade provides a division of labor. 4. The market failure always results in the ne ...

Question 1 true or xfalse1 opportunity cost is the cost for

Question: 1. (True) or X(False) 1. Opportunity cost is the cost for obtaining an opportunity. 2. Positive economics is an economic activity for positive results. 3. Beef and chicken are Normal Goods. 4. Peanut Butter and ...

Question instruction there is a dataset attached called

Question: Instruction: There is a dataset attached called "caschool", it is an excel file. I also upload the description of the data. It is the explanation of the data. If you don't read it you won't be able to answer qu ...

Question tara is considering leaving her current job which

Question: Tara is considering leaving her current job, which pays $56,000 per year, to start a new company that manufactures a line of special pens for personal digital assistants. Based on market research, she can sell ...

Question supply and demand a process of coordinationwhat

Question: Supply and Demand, A Process of Coordination What would have happened if there had been no laws against price gouging and the price of gasoline immediately after Sandy had hit $50 per gallon? You may certainly ...

Question what are the primary differences between private

Question: What are the primary differences between private and public goods? Why might one be more efficiently provided by markets while the other is not? Explain. The response must be typed, single spaced, must be in ti ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Why might a bank avoid the use of interest rate swaps even

Why might a bank avoid the use of interest rate swaps, even when the institution is exposed to significant interest rate

Describe the difference between zero coupon bonds and

Describe the difference between zero coupon bonds and coupon bonds. Under what conditions will a coupon bond sell at a p

Compute the present value of an annuity of 880 per year

Compute the present value of an annuity of $ 880 per year for 16 years, given a discount rate of 6 percent per annum. As

Compute the present value of an 1150 payment made in ten

Compute the present value of an $1,150 payment made in ten years when the discount rate is 12 percent. (Do not round int

Compute the present value of an annuity of 699 per year

Compute the present value of an annuity of $ 699 per year for 19 years, given a discount rate of 6 percent per annum. As