Clipping is a handy way to collect important slides you want to go back to later. But as a methodological approach to economic problems, it originated with the Mercantilists in the 16th and 17th centuries. See our Privacy Policy and User Agreement for details. Nov 17, 2020 - Nature and Scope of Macroeconomics (Part - 1) - Macro Economics | EduRev Notes is made by best teachers of B Com. For example, Your mother does all the work at your home. If you continue browsing the site, you agree to the use of cookies on this website. Unit 1. It helps to understand the functioning of a complicated modern economic system. It explains broad aggregates and their interactions “top down.” Macroeconomics has the following characteristics: 1. As of this date, Scribd will manage your SlideShare account and any content you may have on SlideShare, and Scribd's General Terms of Use and Privacy Policy will apply. 2. Business Cycle:This theory emerged after the Great Depression of the 1930s. Thus, Macro Economics is the study and analysis of an economy as a whole. Nature andScope ofEconomicsByArihant Jain 2. See our User Agreement and Privacy Policy. If you continue browsing the site, you agree to the use of cookies on this website. But almost all the goods are scares• To produce goods factors of production are needed and these are all scarce … If you wish to opt out, please close your SlideShare account. Slideshare uses cookies to improve functionality and performance, and to provide you with relevant advertising. Microeconomics studies the economic behavior of individual unit, may be a person, a particular household, or a particular firm. If you continue browsing the site, you agree to the use of cookies on this website. You can change your ad preferences anytime. Scribd will begin operating the SlideShare business on December 1, 2020 Nature andScope ofEconomicsByArihant Jain. We use your LinkedIn profile and activity data to personalize ads and to show you more relevant ads. Economics is a subject that deals with every situation that’s happening in the whole world. Nature and scope of economics 1. Looks like you’ve clipped this slide to already. If you wish to opt out, please close your SlideShare account. Chapter 1 - basic concepts about macroeconomics for BBA, No public clipboards found for this slide. Slideshare uses cookies to improve functionality and performance, and to provide you with relevant advertising. This subject finds its use at many stances in our lives. The Nature and Scope of Macroeconomics! Macroeconomics in detail- Meaning, Scope, Nature, and Importance . Scribd will begin operating the SlideShare business on December 1, 2020 Learn more. Slideshare uses cookies to improve functionality and performance, and to provide you with relevant advertising. Introduction: The term ‘macro’ was first used in economics by Ragner Frisch in 1933. Introduction to Macro Economics – Nature, Scope, Importance & More The term ‘Macro’ has been derived from a Greek word ‘Macros’ meaning ‘large’. Introduction• The word Economics is derived from the Greek word ―OKIOS NEMEIN‖ meaning household management• Man is a bundle of desires. Slideshare uses cookies to improve functionality and performance, and to provide you with relevant advertising. BASIC CONCEPT OF 1. It describes how the economy … They were concerned with the economic system as a whole. We use your LinkedIn profile and activity data to personalize ads and to show you more relevant ads. Now customize the name of a clipboard to store your clips.