Fundamentals of Macroeconomics

Economics, like a puzzle, helps us understand how people,
corporations, and governments make effective decisions,
though challenged with limited resources. Economists
investigate data to help in framing government policies and
investment strategies. This book describes how economists
utilize tools and frameworks to understand complex economic
circumstances and how they affect our lives and the world. It
thoroughly shows how economists shape cultures and
economies.
In this book, Macroeconomics and its role in solving major
economic issues is discussed and presented, covering supply
and demand, income, and the global economy. Analyzing past
and present situations shows the importance of effective
policies, stability, and progress for countries and their
populations. Macroeconomics explains and analyzes large-scale
economies. Key macroeconomic concepts of how nations
manage their money and resources are discussed. Scarcity,
efficiency, fairness, and sustainability are examined. Supply
and demand, economics, and growth are explained using simple
language and illustrations. These principles are explained by
Psychiatrist William Glasser’s Choice Theory.
National Income is a key indicator of a nation’s economic and
social status. The book explores the intricacies of National
Income, which encompasses earnings from sectors and
activities that affect our daily life. The Net Domestic Product
(NDP) and Gross National Income (GNI) beyond GDP to
assess economic health and global linkages is explored. The
Balance of Payments and Social Accounting and how they
influence the policy and social responsibility is also discussed.