When you study macroeconomics, you will study how the economy as a whole operates. It differs from microeconomics, where the focus is on individual
Macroeconomics
Behavioral Economics: Importance, Examples of Concepts
What's it: Behavioral economics is a branch of economics on how psychological factors influence and explain economic decision making. It studies
Total Factor Productivity: Meaning, Determinants, How to Calculate
What's it: Total factor productivity quantifies the share of economic growth not explained by increases in labor and capital when both are used
Foreign Exchange Reserves: Composition, Importance, Impacts on Economy
What's it: Foreign exchange reserves are liquid assets denominated in foreign currency held by the central bank or government for future use.
Capital Account on the Balance of Payments: Concept and Components
What's it: A capital account is a part of the balance of payments in addition to the current account and financial account. It records the net
Kondratieff Cycle: Meaning, Details of the Cycle and Criticism
What's it: Kondratieff cycle is a long-run economic cycle. That's according to the name of its discoverer, Nikolai D. Kondratieff, a Russian
Gross National Product: Meaning, Importance, How to Measure
What's it: Gross national product (GNP) is the total monetary value of the products and services produced by a country's citizen, regardless of where
Automatic Stabilizers: Examples and How They Work
What's it: Automatic stabilizers are countercyclical fiscal tools. They moderate economic fluctuations without direct government intervention.
What Is Gross Investment
Gross investment is the sum of expenditures for new capital purchases and the replacement of depreciated capital. The company buys new capital goods,
What Is Gross Domestic Private Investment
Gross domestic private investment represents investment spending by the private sector. This is one component of gross domestic product (GDP) in
What is Consumption Expenditures
Consumption expenditure represents spending by households. It covers purchasing three product categories: durable goods, nondurable goods, and
Expenditure Approach: Components, Formula, Using It To Calculating GDP
Under the expenditure approach, gross domestic product (GDP) equals the sum of all spending on final goods and services in a country during a certain