The Macroeconomics Calculator has the most common macroeconomics equations based on widely accepted university texts including the following:
Macroeconomics deals with general and large-scale
metrics and indicators. Examples are gross national
product (GDP) and central bank interest rates.
- Income Elasticity of Demand
- Cross-Price Elasticity of Demand
- Price Elasticity of Demand
- Price Elasticity of Supply
- Total Surplus
- Consumer Surplus
- Producer Surplus
- GDP Growth
- GDP Deflator
- GDP by Income
- GDP Expenditure
- Net Capital Outflow
- Net Exports and Net Capital Outflow
- Dollar Conversion from Different Times
- Unemployment Rate (Friedman and Phelps)
- National Saving
- Domestic Investment
- Unemployment Rate
- Inflation Rate in Year 2 (using CPI)
- Labor Force
- Labor-Force Participation Rate
- Net Exports
- Real Exchange Rate
- Currency Converter
Macroeconomics (from the Greek prefix makro- meaning "large" and economics) is a branch of economics dealing with the performance, structure, behavior, and decision-making of an economy as a whole, rather than individual markets. This includes national, regional, and global economies. With microeconomics, macroeconomics is one of the two most general fields in economics.
Macroeconomists study aggregated indicators such as GDP, unemployment rates, and price indexes to understand how the whole economy functions. Macroeconomists develop models that explain the relationship between such factors as national income, output, consumption, unemployment, inflation, savings, investment, international trade and international finance. In contrast, microeconomics is primarily focused on the actions of individual agents, such as firms and consumers, and how their behavior determines prices and quantities in specific markets
Resource:
- "Macroeconomics." Wikipedia. Wikimedia Foundation, n.d. Web. 29 May 2015.
- Mankiw, N. Gregory. Principles of Macroeconomics. 6th ed. Mason, OH: Thomson/South-Western, 2004. Print.
- Hubbard, R. Glenn., and Anthony Patrick. O'Brien. Economics. Upper Saddle River, NJ: Pearson Prentice Hall, 2008. Print.