Macroeconomics is the study of the economy as a whole. It studies how the economy behaves, performs, and functions by addressing different economic concepts like gross domestic product (GDP ...

According to Keynesian economics, state intervention is necessary to moderate the booms and busts in economic activity, otherwise known as the business cycle. There are three principal tenets in the ...

This, in turn, justifies the establishment of macroeconomics as a separate discipline ... and several countries which have suffered through tremendous economic dislocation to identify and develop the ...