1)What is the difference between a macroeconomic theory and a macroeconomic policy?

2)To what extent is the relationship, between macrosociology and macroeconomics, symbiotic?

3)What are some features of macroeconomics?

1)Macroeconomic theories are referred to as those scientific theories that have been developed by to give insights to the functioning of an economy. Macroeconomic variables include aggregate demand, aggregate supply, inflation, gross domestic product, unemployment, consumption, price level, interest rate, and so on.

There are different macroeconomic theories such as classical theories, Keynesian theory of income and employment, classical and Keynesian theory of money, aggregate demand and aggregate supply model, IS- LM Model, Neo classical theories, and so on. Macroeconomic theories explain the effect of change in one factor on other factors. It address and suggest solutions for macroeconomic problems such as unemployment, high inflation, deflationary situation, currency depreciation.

Macroeconomic policies are the actions taken by government of the country to stabilize the economy. Macroeconomic policy is an attempt to boost the level of gross domestic product and fully utilize the resources of the country. Mainly it includes fiscal policy, monetary policy, supply-side policies (privatization, reforming trade unions, improving the education and introducing skill development programs).

2)Macroeconomics is a branch of economics which studies the economic variables at the aggregate level. It deals with the economy as a whole. The variables such as inflation, gross domestic product (GDP), the level of output in the economy, unemployment rate and so on are studied. On the other hand, Macro sociology is a branch of sociology which looks at the social processes on a large scale. It deals with studying social stability, social change and so on.

The relationship between macro sociology and macroeconomics is symbiotic to a large extent. This is because social change improves macroeconomic variables. For example, if a social change improves the living conditions of women and gives them equal rights in society, then the unemployment rate of women will fall. This, in turn, will decrease the overall unemployment rate and will benefit the economy.

3)It aims to study of the economy as a whole and considers aggregate factors of the economy like aggregate demand, national income, aggregate supply, general price level, aggregate supply, unemployment .and national productivity.

It helps to formulate income analysis by studying the factors responsible for national income of the economy. It creates policies that help to achieve economic growth and efficiency and generate better opportunity to every individual of the society

Macroeconomics deals with study of general equilibrium which says that the behavior of economy is dependent on other factors of the economy like for example a general analysis as to how the changes in policies by the central bank will change the investments and savings of the economy. It tends to have an overall view of the economy by studying the aggregates and their relationships among them.