Why Is Macroeconomics Important?

By Staff WriterLast Updated Apr 17, 2020 3:54:49 PM ET
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Macroeconomics is important because it allows the public to understand the economy as a whole, facilitating decisions relating to firms, fiscal policy and global economic policy. Macroeconomics gives academics, policy makers and other interested individuals a view into the relationship between factors such as unemployment, income and inflation. By studying trends in the macroeconomy, countries are able to prevent disasters such as recessions and depressions.