ECON 102 Lecture Notes - Lecture 1: Capital Flight, George W. Bush, Meteorology
What macroeconomists study: how have some countries witnessed strong economic growth in the last century while others remain mired in poverty. How do some countries have high inflation rates while others hold the prices stable. Why are these countries suffering recessions and depressions recurring cycles of declining wages and increasing unemployment and how will government policy minimize these episodes "frequency and severity. Macroeconomics, the study of the economy as a whole, seeks to address these questions and other relevant issues: you just need to read the newspaper or listen to the news to understand the value of macroeconomics. You may see headlines like income growth slows, fed moves to. Combating inflation, or stocks fall amid recession fears every day. While these macroeconomic developments can seem abstract, they affect our entire lives. Business executives who forecast demand for their goods have to estimate how quickly the incomes of customers will rise.