Macroeconomics is concerned with the study of the whole economy. Macroeconomics is concerned with the study of economy wide aggregates, such as the analysis of total output and employment, total consumption, total investment and national product. (Vaish,1995). It is concerned with the behaviour of the economy as a whole- with booms and recessions, the economy’s total output of goods and services and growth of output, the rates of inflation and unemployment, balance of payments, exchange rates etc. Because it is closely related to real world issues, macroeconomics also involves many non-economic factors such as political, historic, cultural and sociological factors. (Dornbusch et al, 1998).
- Teacher: Dumisani Lawrence Nyathi