Macroeconomics

Macroeconomics is a branch of economics that is concerned with the performance, structure, decision-making and behavior of the economy as a whole. It studies individual indicators such as GDP, national income, price indices and unemployment rates as well as their interrelations with the different sectors of the economy to develop an insight into the working of an economy. Models that describe the relationship between economic factors like consumption, savings, investment, inflation, etc. are developed using macroeconomics. It strives to understand the consequences of short-term fluctuations on national income and also attempts to determine the agents of long-term economic growth. The central concepts of output and income, unemployment, inflation and deflation are vital to macroeconomics. This book is a compilation of chapters that discuss the most vital concepts in the field of macroeconomics. It studies, analyzes and upholds the pillars of macroeconomics and its utmost significance in modern times. Constant effort has been made to make the understanding of the difficult concepts of macroeconomics as easy and informative as possible, for the readers.