macroeconomics
English
WOTD – 21 April 2016
Norwegian economist Ragnar Frisch
Etymology
macro- (large scale-) + economics. The first published use of the term was by the Norwegian economist Ragnar Frisch (1895–1973) in 1933.[1]
Pronunciation
Audio (US) (file) - IPA(key): /ˌmæk.ɹoʊˌiː.kəˈnɒ.mɪks/, /ˌmæk.ɹoʊˌɛ.kəˈnɒ.mɪks/
Audio (AU) (file) - Hyphenation: mac‧ro‧ec‧o‧nom‧ics
Noun
macroeconomics (uncountable)
- The study of the entire economy in terms of the total amount of goods and services produced, total income earned, the level of employment of productive resources, and the general behavior of prices.
Antonyms
Translations
study of the entire economy
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See also
- econometrics, also coined (in current sense) by Frisch
References
- Ragnar Frisch (1933) Propagation Problems and Impulse Problems in Dynamic Economics, London: Allen & Unwin.
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