What is macroeconomics? A short introduction

What is macroeconomics? This video is an introduction to #macroeconomics for the beginner or those recently started studying economics (A Level Economics, IB economics, high school economics, ECON101). #whatismacroeconomics
As a lecture on macroeconomics it covers three main questions:
- what is macroeconomics and how does it relate to microeconomics?
- Who are the main players and actors in the economy? How to macroeconomists think about the economy?
- What guides macroeconomic #policy set by government? What are the main macroeconomic policy objectives?
At the end there is also a useful 90 second summary of the video.
Please like and share the video. To support more videos please go to / economicsunderstood
#introduction to macroeconomics

[@Dominica24333]

incredibly informative, thank you!

[@MrBlackjack456]

Summary:
The video provides a short introduction to macroeconomics, aiming to demystify its concepts for those unfamiliar with economics. The narrator emphasizes the importance of understanding macroeconomics, given its prevalence in news media. The summary highlights three key areas covered in the video: the relationship between microeconomics and macroeconomics, the economic players (households, firms, government, foreign trade, banks), and an overview of macroeconomic policy.
**Introduction:**
The video introduces macroeconomics as a crucial aspect dominating news media, and understanding it is essential for comprehending economics.
**Macro vs. Microeconomics:**
The distinction between microeconomics and macroeconomics is explained. Microeconomics focuses on individual decision-making, while macroeconomics aggregates these decisions at the economy-wide level, involving all firms and consumers.
**Economic Players:**
The five key economic players are identified: households/individuals, firms/entrepreneurs, government, foreign trade/foreign countries, and banks/financial institutions. Individuals and firms play starring roles, while government, foreign trade, and banks assume supporting roles in the economic narrative.
**Macroeconomic Policy:**
Macroeconomic policy, closely linked to politics, is discussed. Governments aim to control the economy to please their electorate and retain power. Four main macroeconomic policy objectives are highlighted: controlling inflation, improving economic growth, ensuring low unemployment, and promoting foreign trade. However, the video notes the complexity of achieving all objectives, as they may be in conflict, leading to difficult choices and trade-offs for politicians.
**Controversies and Nuances:**
The video touches on the challenges and conflicts inherent in macroeconomics. It acknowledges that achieving all macroeconomic policy objectives may be difficult due to inherent trade-offs. For instance, reducing unemployment may conflict with controlling inflation.
**Conclusion:**
The summary encapsulates the video's main points, highlighting the relationship between microeconomics and macroeconomics, the roles of economic players, and the complexities of macroeconomic policy. The importance of understanding these concepts is emphasized for a comprehensive grasp of economics.
*Note: The summary encapsulates the video's main points, however, for detailed understanding, watch the entire video.*

[@mwangiwambui1374]

best lesson ever!

[@thechesstrain528]

U explained in very simple way :) thanks a lot !!

[@marcostejeda5910]

Great synthesis!

[@ts3858]

What about reducing crime and promoting education?

[@lossantosmecantan1921]

Keep up the good work❤

[@dawoodarman6808]

It's very useful continuing this kind of video will help people

[@aareebahamid1708]

Excellent work.. looking forward for more videos

[@MengerMania]

Most (if not all) widespread economic problems arise from the belief in the validity of macroeconomics. Complex adaptive systems (like markets) cannot be fully understood and are definitely not controlled by central planners. Markets emerge through the network of interactions between individuals; any intervention in those interactions causes a distortion in the effective and efficient allocation of economic resources. The study of "macroeconomics" consists of a huge error of aggregation.

[@manojagarwal1857]

Nice vedio

[@robertallen591]

macro the overview, or how the system works,, micro economics the details of specific actions,

[@joy9899]

Thank you

[@ashaharyani7733]

Dk book of economics detail video

[@ephoda1393]

Thanks

[@mashmajor_]

Me who wants to be a politician in the future visited this for exactly this purpose

[@ashaharyani7733]

Ur channal is nice plz upload the dk book of economics it's nice book

[@ProgressiveMastermind]

Love your videos! But you got it wrong how banks work!
They DON'T lend on the savings!!
Those are separated deals.
They create money to lend to the private sector in license of the central bank aka government

[@amoeintdigitalaccess719]

One of the major wah Money is created is by credits.

[@killcode6717]

Thank you 🙏

[@thechesstrain528]

thank you sir :)

[@vophie]

So the whole is not greater than the sum of its parts

[@JoVeda_xo]

I dont believe malls should die out. It deserved a revamp because exonomy was too rocky.

[@siewliongkwok5610]

Can I have an email to contact you to discuss on the matter?

[@montega.]

Thank you