macroeconomics
English edit
Etymology edit
From macro- (“large scale”) + economics. The first published use of the term was by the Norwegian economist Ragnar Frisch (1895–1973) in 1933.[1]
Pronunciation edit
Audio (US) (file) - IPA(key): /ˌmæk.ɹoʊˌiː.kəˈnɒ.mɪks/, /ˌmæk.ɹoʊˌɛ.kəˈnɒ.mɪks/
Audio (AU) (file) - Hyphenation: mac‧ro‧ec‧o‧nom‧ics
Noun edit
macroeconomics (uncountable)
- The study of the entire economy in terms of the total amount of goods and services produced, total income earned, the level of employment of productive resources, and the general behavior of prices.
- Antonym: microeconomics
Translations edit
study of the entire economy
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See also edit
- econometrics, also coined (in current sense) by Frisch
References edit
- ^ Ragnar Frisch (1933) Propagation Problems and Impulse Problems in Dynamic Economics, London: Allen & Unwin.