Importance of macroeconomics:
1. Information about the economy:
Macroeconomics provides insight into various interrelated aspects and the functioning of the economy.
2. Formulation of economic policy:
Macroeconomics plays a critical role in the formulation of economic policies.
3. Economic planning:
The main objective of economic planning is to implement various police and programmes for the welfare of the people on priority basis. Macroeconomic helps economists to examine the interrelationship between various macroeconomic variables and choose the programmes best suited for the welfare of the people.
4. Examine Economic fluctuations:
Macroeconomics examine various fluctuations in different variables such as national income, aggregate output, trade deficit, investment, etc.
