Macroeconomics is a branch within the field of economic study that focuses on the economy as a whole instead of individual businesses or industries. Students often take basic macroeconomics courses starting in high school, though more specialized coursework in this field is often reserved for college. Macroeconomics courses are included in many business-related programs for undergraduates, and students can even choose to major in macroeconomics at the college level. Those with a special interest in this industry can also find advanced level courses in the form of a master's degree or PhD program at colleges in the United States and abroad. Macroeconomics courses open doors to careers in business, government and teaching.
High school economics courses typically take a broad approach to the subject, covering both micro and macro economic principles and theories. These courses may be included as part of basic social studies or social sciences education, and are designed to teach students more about the economy and the business world. At colleges and universities, students pursuing business or finance degrees are often required to take one or more macroeconomics courses.
A large number of schools allow students to major in economics, or even in macroeconomics at the undergraduate level. These students start with introductory classes that cover principles and theories of macroeconomics. After the first year of college, students move on to more advanced macroeconomics courses, including advanced or seminar-style classes. Those pursuing a major in this field will often be required to complete some form of independent research project during the senior year.
Macroeconomics courses at the graduate level can help students earn advanced degrees, such as a master's or PhD, which are required for many government and teaching jobs. At this level, students often choose to specialize in a particular area of study. This may include fields like international trade, finance, investing, public policy, or government studies. These specialty courses help students apply knowledge of macro to real world scenarios.
Graduate-level macroeconomics programs are often characterized by the specific school of economics the are based on. For example, traditional programs rely the classical theories developed by John Maynard Keynes during the 1930s. Schools with a neoclassical approach follow the new Keynesian models proposed by Robert Lucas and others during the 1980s. Other macroeconomic courses focus on monetarism theories developed by Morgan Friedman. Of course, each of these programs provides training in all three of these models so that students will have a comprehensive education.