macroeconomics
Economy-wide financial study
Macroeconomics is the branch of economics that studies large-scale economic systems—entire nations or regions rather than individual markets or firms.
It examines aggregate phenomena like inflation, unemployment, gross domestic product, and monetary policy: The Fed's interest rate decisions are macroeconomics in action.
Contrast with microeconomics, which focuses on individual actors and markets.
Central bank economic controls
- fiscal policyState spending and taxation
- central bankNational currency management institution
- interest ratesPrice paid for borrowing
- quantitative easingAsset purchases to boost economy
money supply · discount rate · government spending · taxation · budget deficit · national debt · stimulus · austerity
Sustained price level increase
- deflationSustained decrease in prices
- stagflationStagnant growth meets inflation
- hyperinflationExtreme rapid price escalation
- CPIInflation measurement abbreviation
price level · purchasing power · cost of living · price index · core inflation · price stability · indexation · disinflation
Prolonged economic decline
- expansionIncrease in scope
- boomLoud deep sound
- bustFailure or sculpture
- recoveryRegaining what was lost
contraction · trough · peak · business cycle · cyclical · upturn · downturn · depression
Exchange across national boundaries
- exchange ratesCurrency conversion values
- balance of paymentsNation's international transaction record
- current accountBank account for regular transactions
- capital flowsMovement of investment money
foreign investment · trade deficit · globalization · IMF · World Bank · emerging markets · trade policy · tariffs
National output abbreviation
- national incomeCountry's total earnings
- consumptionUsing up of resources
- investmentDeploying capital for returns
- savingsAccumulated money kept
unemployment · economic indicators · labor market · productivity · capital stock · gross national product · disposable income · net exports
Sustained output increase
- developmentProgress toward maturity
- productivity growthRising output per input
- GDP growthOutput increase percentage
- convergenceProcess of approaching sameness
divergence · human capital · technological progress · innovation · sustainable growth · growth rate · per capita income · living standards
monetary policy
Central bank economic controls
- fiscal policyState spending and taxation
- central bankNational currency management institution
- interest ratesPrice paid for borrowing
quantitative easing · money supply · discount rate · government spending · taxation · budget deficit · national debt · stimulus · austerity · crowding out
inflation
Sustained price level increase
- deflationSustained decrease in prices
- stagflationStagnant growth meets inflation
- hyperinflationExtreme rapid price escalation
CPI · price level · purchasing power · cost of living · price index · core inflation · price stability · indexation · disinflation · real wages
recession
Prolonged economic decline
recovery · contraction · trough · peak · business cycle · cyclical · upturn · downturn · depression · overheating
international trade
Exchange across national boundaries
- exchange ratesCurrency conversion values
- balance of paymentsNation's international transaction record
- current accountBank account for regular transactions
capital flows · foreign investment · trade deficit · globalization · IMF · World Bank · emerging markets · trade policy · tariffs · currency crisis
GDP
National output abbreviation
- national incomeCountry's total earnings
- consumptionUsing up of resources
- investmentDeploying capital for returns
savings · unemployment · economic indicators · labor market · productivity · capital stock · gross national product · disposable income · net exports · inventory
economic growth
Sustained output increase
- developmentProgress toward maturity
- productivity growthRising output per input
- GDP growthOutput increase percentage
convergence · divergence · human capital · technological progress · innovation · sustainable growth · growth rate · per capita income · living standards · industrialization
- economicssupply and demand, inflation, GDP, GNP, gross domestic product
- college coursesbiology, calculus, chemistry, physics, quantum physics
- economics departmentprofessors, faculty, department head, chair, graduate students
- introductory textbookscalculus textbook, algebra textbook, microeconomics, organic chemistry, environmental science
- subdisciplinesbiochemistry, microbiology, molecular biology, cell biology, genetics
- macroeconomicsGDP, GNP, gross domestic product, gross national product, inflation rate