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Research on Macroeconomics

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Research on Macroeconomics

Category: Personal Statement

Subcategory: Economics

Level: PhD

Pages: 1

Words: 275

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Research on Macroeconomics
As the field of economics expands, all eyes and interests shift to macroeconomics as the research area. Macroeconomics is one of the branches of economics which deals with the structure, behavior, performance and the decision making within the economy as a whole. Relatively, macroeconomics is a new branch thus there are many issues still need to be fixed and many new things to discover. Macroeconomics as well seems to be changing faster welcoming any form of contribution towards any problem discovered (Prescott, 3). Thus, macroeconomics goes beyond regional and national economies and look at the global economies as the whole. In macroeconomics, all the aggregated economic indicators such as price indices, national income, and GDP among other indicators. The study also involves examining the interrelations among different economic sectors to better understand the economic functions as the whole.
In most cases, the economy of any country is measured by the level of the national income which sometimes fluctuates what we call business cycle. At the same time, the economy may face the increase in national income which leads to long-term economic growth. Thus, macroeconomics tries to understand the two factors, fluctuation in national income and the factors which determine long-term economic growth. Therefore, in a nutshell, the study of macroeconomics gives priority to domestic growth, property sector, taxation polic…

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