Macroeconomics is a subfield of economics that studies the economy as a whole rather than individual businesses or industries. Basic macroeconomics courses are commonly taken in high school, but more specialized coursework in this field is typically reserved for college. Many business-related undergraduate programs include macroeconomics courses, and students can even choose to major in macroeconomics in college. Advanced level courses in the form of a master’s degree or PhD program are available at colleges in the United States and abroad for those with a special interest in this industry. Courses in macroeconomics prepare students for careers in business, government, and education.
High school economics courses typically cover both micro and macroeconomic principles and theories. These courses are designed to teach students more about the economy and the business world and may be included as part of a basic social studies or social sciences education. Students pursuing business or finance degrees are frequently required to take one or more macroeconomics courses at colleges and universities.
At the undergraduate level, a large number of schools allow students to major in economics or even macroeconomics. These students begin with macroeconomics principles and theories in introductory classes. Students progress to more advanced macroeconomics courses after their first year of college, including advanced or seminar-style classes. Those majoring in this field are frequently required to complete an independent research project during their senior year.
Graduate-level macroeconomics courses can assist students in obtaining advanced degrees, such as a master’s or PhD, which are required for many government and teaching positions. Students at this level frequently choose to specialize in a particular field of study. International trade, finance, investing, public policy, and government studies are examples of such fields. These specialty courses assist students in applying macro knowledge to real-world scenarios.
Graduate-level macroeconomics programs are frequently distinguished by the school of economics on which they are based. Traditional programs, for example, rely on the classical theories developed by John Maynard Keynes in the 1930s. Neoclassical schools are guided by the new Keynesian models proposed by Robert Lucas and others in the 1980s. Other macroeconomic courses concentrate on Morgan Friedman’s monetarism theories. Of course, each of these programs offers training in all three models, ensuring that students receive a well-rounded education.