We are independent & ad-supported. We may earn a commission for purchases made through our links.
Advertiser Disclosure
Our website is an independent, advertising-supported platform. We provide our content free of charge to our readers, and to keep it that way, we rely on revenue generated through advertisements and affiliate partnerships. This means that when you click on certain links on our site and make a purchase, we may earn a commission. Learn more.
How We Make Money
We sustain our operations through affiliate commissions and advertising. If you click on an affiliate link and make a purchase, we may receive a commission from the merchant at no additional cost to you. We also display advertisements on our website, which help generate revenue to support our work and keep our content free for readers. Our editorial team operates independently of our advertising and affiliate partnerships to ensure that our content remains unbiased and focused on providing you with the best information and recommendations based on thorough research and honest evaluations. To remain transparent, we’ve provided a list of our current affiliate partners here.

What Are the Objectives of Macroeconomics?

Daniel Liden
By
Updated Feb 15, 2024
Our promise to you
WiseGeek is dedicated to creating trustworthy, high-quality content that always prioritizes transparency, integrity, and inclusivity above all else. Our ensure that our content creation and review process includes rigorous fact-checking, evidence-based, and continual updates to ensure accuracy and reliability.

Our Promise to you

Founded in 2002, our company has been a trusted resource for readers seeking informative and engaging content. Our dedication to quality remains unwavering—and will never change. We follow a strict editorial policy, ensuring that our content is authored by highly qualified professionals and edited by subject matter experts. This guarantees that everything we publish is objective, accurate, and trustworthy.

Over the years, we've refined our approach to cover a wide range of topics, providing readers with reliable and practical advice to enhance their knowledge and skills. That's why millions of readers turn to us each year. Join us in celebrating the joy of learning, guided by standards you can trust.

Editorial Standards

At WiseGeek, we are committed to creating content that you can trust. Our editorial process is designed to ensure that every piece of content we publish is accurate, reliable, and informative.

Our team of experienced writers and editors follows a strict set of guidelines to ensure the highest quality content. We conduct thorough research, fact-check all information, and rely on credible sources to back up our claims. Our content is reviewed by subject-matter experts to ensure accuracy and clarity.

We believe in transparency and maintain editorial independence from our advertisers. Our team does not receive direct compensation from advertisers, allowing us to create unbiased content that prioritizes your interests.

Macroeconomics is a field of study devoted to understanding the behavior of economies on a large scale and using that understanding to inform economic policies. The objectives of macroeconomics are manifold, but they usually involve determining how best to encourage economic growth while preventing economic decline. Some individuals who study macroeconomics work to develop ways to get out of recessions or depressions while others focus on maintaining nonstop growth while preventing dramatic crises. The practical objectives of macroeconomics involve making decisions and enacting policies that have positive effects on an economy, which can be difficult given the often-unpredictable responses of economies to change. Still others study macroeconomics with the objective of predicting the behavior of economies in order to make good business or finance decisions.

The primary objectives of macroeconomics, practical or theoretical, usually involve elucidating the various factors that contribute to economic change. The behavior of an economy is governed by a complex web of factors. Changing one can potentially alter the effects of any of the other factors and have a significant effect on an economy. Building a satisfactory model of this complex web in order to determine how factors affect each other and the particular economy as a whole is one of the most important and valuable foci of macroeconomics. Most macroeconomic models allow theorists to examine only a few factors at a time.

Promoting economic growth based on macroeconomic theory is another of the major objectives of macroeconomics. Theorists who work primarily in academia do important work creating macroeconomic models and analyzing the results of historical economic policies. Policy makers must apply this information to the development of practical economic policies. Unfortunately, even the best educated economists cannot account for all possible factors, so economic policies and decisions often have unintended side-effects, for better or for worse. Another focus of macroeconomics is ensuring that domestic economic policies and decisions do not have deleterious effects on foreign economic systems unless doing so is, for some reason, politically favorable.

Regardless of the end goal, manipulation of the economy is the most important and practically useful of the various objectives of macroeconomics. Developing the theory necessary to predictably manipulate the economy can lead to considerable economic health and strength, and can even be a powerful weapon. For example, macroeconomic policy can be used to severely inhibit a target nation's ability to procure certain resources and to remain in an economically healthy state.

WiseGeek is dedicated to providing accurate and trustworthy information. We carefully select reputable sources and employ a rigorous fact-checking process to maintain the highest standards. To learn more about our commitment to accuracy, read our editorial process.
Link to Sources
Daniel Liden
By Daniel Liden
Daniel Liden, a talented writer with a passion for cutting-edge topics and data analysis, brings a unique perspective to his work. With a diverse academic background, he crafts compelling content on complex subjects, showcasing his ability to effectively communicate intricate ideas. He is skilled at understanding and connecting with target audiences, making him a valuable contributor.
Discussion Comments
Daniel Liden
Daniel Liden
Daniel Liden, a talented writer with a passion for cutting-edge topics and data analysis, brings a unique perspective to...
Learn more
WiseGeek, in your inbox

Our latest articles, guides, and more, delivered daily.

WiseGeek, in your inbox

Our latest articles, guides, and more, delivered daily.