Definition: Macroeconomics is that the branch of economic science that studies the behavior and performance of an economy as a full.
It focuses on the combination changes within the economy like state, rate, gross domestic product and inflation.
“Macroeconomics, then, is that part of the subject which deals with the Great aggregates and averages of the system rather than with particular item in it, and attempts to define, these aggregates in a useful manner and to examine their relations.” Professor Bouding
“Macroeconomics deals with economic affairs in the large.” It looks at the total size and shape and functioning of ‘Elephant’ of Economics experience, rather than the working or articulation or dimensions of the individual parts. To alter the metaphor it studies the character of the forest, independently of the trees which compose it.” – Gardner Acley
Macroeconomics analyzes all combination indicators and also the economic science factors that influence the economy.
Government and corporations use macroeconomic models to help in formulating of economic policies and strategies.