Macroeconomics ECN 3102 CHAPTER 1.

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Presentation transcript:

Macroeconomics ECN 3102 CHAPTER 1

What Macroeconomics Is About Long-run economic growth Average labor productivity Average labor productivity growth Business cycles Unemployment Inflation The international economy Macroeconomic Policy Aggregation

What Macroeconomists Do Macroeconomic forecasting Macroeconomic analysis Macroeconomic research In Touch with Data and Research: Developing and Testing an Economic Theory Data development—very important for making data more useful

Why Macroeconomists Disagree Positive vs. normative analysis Classicals vs. Keynesians A unified approach to macroeconomics

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