Question

transition from macroeconomics to macroeconomics​

Answer 1

Answer:

It would be of great use to understand that both micro and macroeconomics have been studied by various economists from time to time.

Mercantilists, Physiocrats and classical economists like Adam Smith, Ricardo and Marx were concerned with total income in the community and the behaviour of the economic system over a period of time.

The great Depression (1929-32) and unemployment endangered by it. Second World War and the desire of the underdeveloped countries to develop quickly attracted the attention of the economists towards the study of macroeconomics, which led finally to aggregative thinking and Keynes’ General Theory.

Thus, J.M. Keynes became the chief advocate of macroeconomics in recent times. In fact, his book ‘General Theory’ may well be described as ‘Aggregative Economics’. The desire to control business cycles and rapid economic growth of backward economies led economists like L. Walras, K. Wicksell, I. Fisher to contribute their mite towards the development of macroeconomic studies. There are certain branches of modern economic theory which could be classed wholly under macroeconomics, like Public Finance, International Trade, Banking etc.

Answer 2

micro economics micro economics is economics in which we will study about economic problems as a country as a whole or at aggregate level.

for example . national income