Macroeconometrics

Macroeconometrics is the branch of economics that applies statistical methods to study large-scale economic data, such as gross domestic product (GDP), inflation, unemployment, and interest rates. It aims to understand how different economic factors interact and influence the overall economy. By analyzing historical data, macroeconometrics helps economists build models to forecast future economic trends, evaluate policies, and understand economic relationships at a country or global level. Essentially, it combines economic theory with statistical techniques to better interpret complex economic phenomena and inform decision-making.