ECO 212 Week 3 DQ 1 - 7526

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What is macroeconomics? What role does macroeconomics play in your personal financial decisions and the decisions that your organization makes?

The text defines macroeconomics as “the study of the economy as a whole, including topics such as inflation, unemployment, and economic growth." Unlike microeconomics that focuses on how an individual behavior and spending decisions affect supply and demand, Macroeconomics is the bigger picture; however, in order to get the bigger picture, one must first understand the smaller part.

Macroeconomics has played an important part in my personal financial decisions because of the downturn of the economy and high unemployment I have held off on major purchases like a new car and I have also put away more money for emergencies than normal. My current job decided to hold off on giving its employees raises until the company starts moving in a positive direction.  Just recently they decided to start giving employees a raise again. The decisions that the organization made due to the downturn in the economy was to cut back hours in order to cut costs.


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What is macroeconomics? What role does macroeconomics play in your personal financial decisions and the decisions that your organization makes?

The text defines