Macroeconomics
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On the night before the firm announces the expansion plan at a press conference, you are sitting in your home office reflecting on what you have learned about the process over the last several weeks. Articulate how macro- and microeconomics come into play in the context of firm decision-making in a global business.
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On the night before the firm announces the expansion plan at a press conference, you are sitting in your home office reflecting on what you have learned about the process over the last several weeks. Articulate how macro- and microeconomics come into play in the context of firm decision-making in a global business.
Macroeconomics is the study that considers aggregate behavior. This is in contrast to microeconomics which is the study of the economic behaviour of individual consumers, firms, and industries. But both play an important role in the business decision making.
Macroeconomics provides the broader picture of the economy which gives the indications about the overall economic scenario and the business cycle. For example a recession is a situation of falling National income or the aggregate demand consistently in the preceding years. It also leads to the loss of business confidence. Depression is any economic downturn where real GDP declines by more than 10 percent. A recession is an economic downturn that is less severe. (Economics. About.com) Thus this will help the organization to take important decisions relating to the expansion. For example if a country is suffering from recession then the organization may not go for ...
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