macroeconomics

English dictionary entry

Meanings

noun

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.

en-us-macroeconomics.ogg /ˌmæk.ɹoʊˌiː.kəˈnɒ.mɪks/ /ˌmæk.ɹoʊˌɛ.kəˈnɒ.mɪks/ en-au-macroeconomics.ogg

macroeconomics

From macro- (“large scale”) + economics. The first published use of the term was by the Norwegian economist Ragnar Frisch (1895–1973) in 1933.

microeconomics

econometrics also coined by Frisch

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