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Macroeconomics is the study of the entire economy. It looks at how different sectors of the economy interact, how the government affects the economy, and how different economic policies can impact the economy. Macroeconomics focuses on the big picture and can help governments create policies to increase economic growth and reduce poverty. Macroeconomists analyze data from the government, businesses, and individuals to understand how the economy is working and how it can be improved. The news, articles, and videos below provide information about macroeconomics and the current state of the economy. Learn about the different economic policies being implemented around the world and how different countries are dealing with economic issues.
Macroeconomics is at times unfavorably compared to weather forecasting. But weather forecasts have in fact become more accurate over time: a forecast for four days inthe future, made today, today is as accurate as a one-day forecast 30 years ago. Can macroeconomics make at least a broadly similar claim to improvement? Olivier Blanchard makes the
Timothy Taylor of ConversableEconomist Blog in this post asks: Is Macroeconomics a Mature Science? He referes to a recent paper from Olivier Blanchard on Convergence in Macroeconomics. Macroeconomics is at times unfavorably compared to weather forecasting. But weather forecasts have in fact become more accurate over time: a forecast for four days inthe future, made today,…
Let me state my two main conclusions. First, starting from sharply different views, there has been substantial convergence, both in terms of methodology and in terms of architecture. Second, this convergence has been mostly in the right direction, allowing future research to build on the existing conceptual structure. Put strongly, macroeconomics may have a claim…
. As always, Murphy’s video masterfully distils abstract economic concepts into clear, jargon-free explanations, making complex issues accessible to non-experts and relevant to everyday life. In so-called ‘modern’ macroeconomics—whether in the form of Dynamic Stochastic General Equilibrium (DSGE), the New Synthesis, New Classical, or 'New Keynesian’ models -- economic variables are treated as if they…
If the market is a machine, why do feelings still move it? Everyone has access to lightning-fast analytics now. In 2025, trading feels like science fiction: algorithms read headlines before they hit the front page, and retail platforms arrive with built-in assistants that scan sentiment, flag opportunities and even explain macroeconomics in plain English. The tools once reserved for Wall Street are just one tap away for anyone with a phone and Wi-Fi.
One of the great accomplishments of non-university macroeconomics is the establishment of a coherent and consistent set of macroeconomic accounts. These are based on a published and consistent set of concepts and definitions established by cooperating experts in the field. Many sciences have comparable foundational documents. Psychiatrists and psychologists have their Diagnostic and Statistical Manual…
The purported strength of New Classical macroeconomics lies in its firm anchorage in preference-based microeconomics, particularly the decisions made by inter-temporal utility-maximising, 'forward-looking' individuals. To some, however, this strength has come at too high a price. The quasi-religious insistence that macroeconomics must have microfoundations -- without providing ontological or epistemological justification for this requirement --…