Define macro economics.

Macroeconomics is a branch of economics that studies the aggregate economic activities of an economy as a whole, rather than individual markets or sectors. It focuses on large-scale economic phenomena such as:

• National income and output (e.g., GDP, GNP) and their determinants.
• Employment and unemployment rates, analyzing factors like cyclical, structural, and frictional unemployment.
• Price level and inflation, including causes and effects of rising prices.
• Economic growth, measuring trends in real GDP over time.
• Government policies like fiscal policy (taxation, government spending) and monetary policy (money supply, interest rates) to stabilize the economy.
• Aggregate demand and supply, explaining how they influence equilibrium output and prices.
• International trade and balance of payments, including exchange rates and trade deficits/surpluses.

Macroeconomics helps policymakers design strategies to achieve economic stability, full employment, and sustainable growth. It contrasts with microeconomics, which examines individual decision-making by households and firms.