Macroeconomics
Macroeconomics is the study of the relationship between broad economic variable /aggregates i.e. it is a branch of economics that covers all economic variables in aggregate terms. It looks at the function of the economy as a whole. Macro economics is also considered as a branch of economics that tries to explain, how and why the economy fluctuates and grows overtime.
This subject matter tries to address the basic imbalances like balance of payment, unemployment, national income, inflation, economic growth and economic development among others. The main problems, which are traditionally considered in macroeconomics, are; economic growth, unemployment, inflation and balance of payments.
The major importance of macroeconomics is that it helps us to understand the functioning of the economy i.e. how the economy operates.