What Is Economics?

What Is Economics?
It is a science that has developed for more than 200 years. The Wealth of Nations written in 1776 by the Scottish thinker Adam Smith is considered to be the early beginning of economics. Adam Smith is also often referred to as the father of economics...

Macroeconomics is that branch of economics that studies the economy as a whole, it examines and explains economic facts in the aggregate, i. e. in totals for the whole community of nation. Macroeconomics is concerned with what actions governments can take to achieve desired ends. It operates with terms like unemployment, investment, money supply, production, consumption, inflation, etc.
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