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A school of economics should be ranked in the top ten to produce favorable job prospects. In addition, a strong background in statistics and econometrics is needed.

The goal of this site is to provide great information about majoring in economics. There is a lot of good and bad information out there to be addressed. Please email tips and advice to admin@schoolofeconomics.info

Cute Professor Showing Supply and Demand Curves for Economics Students

Macroeconomics

Macroeconomics are the big decisions that affect an entire nation. For example, the discount rate for banks, interest rates set by the Federal Reserve, unemployment, and labor discrimination.

When looking at macroeconomics statistics, it can be quite confusing. It is so difficult that most economists don't agree on what is going to happen. Somehow, some people seem to get it right, but economists think this is good luck more than good science. The idea in economics is that nobody can really predict with any real accuracy.

The top statistics for macroeconomics are the GDP (gross domestic product), interest rates, unemployment, and wages. The entire economy can be summed up in a single equation y=c+i+G+(x-m). It means that the economy (y) is equal to consumption, plus interest cost, plus cost of goods sold, plus exports minus imports.

 

 

 


 

 

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