Introduction
Macroeconomics is the study of the aggregate economy (Kennedy, 2000). It involves the study of variables which affect the whole economy. These variables include Gross Domestic Product (GDP), growth rate, unemployment, inflation, international trade, business cycle and demographic characteristics. The study of these variables helps in understanding the structure and composition of the whole economy in order to make rational decisions which can help the economy grow during the various business stages. This is done through the use of macroeconomic models in analysing the variables data. Each of the macroeconomic variables is an indicator of the level of an Continue reading...
