Importance of Macro Economics
The importance and the need for introducing a macro outlook of an economy are given below:
There is a need to understand the functioning of the economy at the aggregate level to evolve suitable strategies and to solve the basic problems prevailing in an economy.
Understanding the future problems, needs and challenges of an economy as a whole is important to evolve precautionary measures.
Macro economics provides ample opportunities to use scientific investigation to understand the reality.
Macro economics helps to make meaningful comparison and analysis of economic indicators.
Macro economics helps for better prediction about future and to formulate suitable policies to avoid economic crises.