macroeconomics

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English

WOTD – 21 April 2016
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Etymology

From macro- (“large scale”) +‎ economics. The first published use of the term was by the Norwegian economist Ragnar Frisch (1895–1973) in 1933.[1]

Pronunciation

  • Audio (US):(file)
  • IPA(key): /ˌmæk.ɹoʊˌiː.kəˈnɒ.mɪks/, /ˌmæk.ɹoʊˌɛ.kəˈnɒ.mɪks/
  • Audio (General Australian):(file)
  • Hyphenation: mac‧ro‧ec‧o‧nom‧ics

Noun

macroeconomics (uncountable)

  1. 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.
    Antonym: microeconomics

Translations

See also

References

  1. ^ Ragnar Frisch (1933) Propagation Problems and Impulse Problems in Dynamic Economics, London: Allen & Unwin.
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