Skills you'll gain: Market Analysis, Marketing, Entrepreneurship, Business Analysis, Data Analysis, Research and Design, Basic Descriptive Statistics, Finance, Financial Management, Market Research, Probability & Statistics, Statistical Analysis, Business Development, Exploratory Data Analysis, Leadership and Management, Sales, Spreadsheet Software, Strategy, Strategy and Operations, Statistical Tests, Regression, Accounting, Data Visualization, Financial Analysis, Investment Management, Plot (Graphics), Survey Creation, Big Data, Change Management, Data Management, Decision Making, Econometrics, Experiment, Game Theory, General Accounting, General Statistics, Mathematics, Planning, Project Management, Supply Chain Systems, Supply Chain and Logistics
Beginner · Specialization · 3-6 Months
Skills you'll gain: Adaptability, Business Analysis, Business Psychology, Business Transformation, Entrepreneurship, Leadership and Management, Organizational Development, Customer Analysis, Marketing, Sales, Strategy, Strategy and Operations
Mixed · Course · 1-3 Months
Skills you'll gain: Finance, Accounting, Business Analysis, Data Analysis, Financial Analysis, Financial Accounting, Mathematics, Financial Management, Investment Management, Account Management, Sales, Generally Accepted Accounting Principles (GAAP)
Intermediate · Specialization · 3-6 Months
Skills you'll gain: Econometrics, Probability & Statistics, Strategy and Operations, Accounting, Audit, Behavioral Economics, Business Psychology, Entrepreneurship, Leadership and Management, Marketing, Project Management, Sales, Strategy
Beginner · Course · 1-4 Weeks
Skills you'll gain: Leadership and Management, Entrepreneurship, Decision Making, Marketing, Planning, Professional Development, Sales, Strategy, Strategy and Operations, Communication, Creativity, Finance, Research and Design, Risk Management, Social Media
Beginner · Course · 1-4 Weeks
Skills you'll gain: Accounting, Big Data, Business Analysis, Change Management, Data Analysis, Data Management, Decision Making, Entrepreneurship, Finance, Financial Analysis, Leadership and Management, Market Analysis, Market Research, Marketing, Planning, Probability & Statistics, Project Management, Research and Design, Statistical Tests, Strategy and Operations, Supply Chain Systems, Supply Chain and Logistics
Beginner · Course · 1-3 Months
Macroeconomics is the field of economics that studies trends in the overall economy, whether at the level of a state, a country, or the entire world. In contrast to microeconomics, which studies the economic decision-making of individuals, macroeconomics examines how the aggregated decisions of all the individuals in an economy are shaped by large-scale factors such as interest rates, inflation, productivity, and tax and trade policies.
The importance of macroeconomics to understanding the business landscape has only grown in recent decades, as the march of globalization has made international economies ever more interdependent. Macroeconomic conditions within and between countries can create opportunities as well as challenges; for example, differences in labor costs or tariffs may enable a company to lower production costs with international supply chains.
Similarly, understanding macroeconomics is an important part of understanding national and international politics. Gross domestic product (GDP) growth is a core goal of any government, and economists play a central role in determining the macroeconomic policies needed to achieve this. Macroeconomic conditions in a country can also influence its positions in international trade negotiations as well as its motivations in cross-border conflicts or alliances.
Top decision-makers at large companies (and especially multinational corporations) rely on macroeconomic insights to aid in strategic management decisions. A chief operating officer (COOs) might use economic trends to inform demand forecasts; a chief financial officer (CFO) needs to keep a close eye on interest rates in evaluating different financing strategies; and a chief executive officer (CEO) could seek opportunities for expansion through overseas mergers & acquisitions (M&A) in a fast-growing emerging market.
Economists with a particularly deep expertise in macroeconomics may become academic researchers in some cases, or else may work in government roles. By using statistical and econometric techniques, economists can uncover new insights into the factors driving economic growth - and, potentially, provide guidance to policymakers accordingly. According to the Bureau of Labor Statistics, economists earned a median annual salary of $105,020 in 2019, and typically had at least a master’s degree and often a Ph.D. in economics.
Certainly. Coursera offers a full range of online learning opportunities on macroeconomics and related business topics such as financial markets, strategic management, and banking. These courses and Specializations are taught by top-ranked schools like the University of California, Irvine, Columbia University, and the University of Illinois at Urbana-Champaign, so you won’t have to settle for a lower quality education to learn online. And, with significantly lower tuition costs than on-campus students, learning about macroeconomics on Coursera is a smart investment in driving your own personal growth.
The field of macroeconomics draws on knowledge of larger markets and governmental policy, so experience in finance, accounting, investing, or banking will benefit you. The knowledge that involvement in the business field brings can also help you gain a grasp of basic macroeconomic concepts such as supply and demand and monetary policy. Having a familiarity with political science is also a plus when it comes to learning about macroeconomics because you’ll have a foundation of understanding about how government actions affect the markets. Experience with upper-level mathematics or statistics will also give you an advantage in studying macroeconomics because of the level of data analysis that macroeconomics involves.
Anyone with an analytical mind can perform well in a career in macroeconomics because jobs in that field often rely on modeling and financial analysis to determine trends and issue forecasts. Individuals with business experience, especially in larger corporations, are well-suited to work in macroeconomics roles because they have firsthand knowledge of how decision-making processes work in larger organizations, as well as how those decisions affect various groups of people. People with backgrounds in accounting can also understand the principles that drive macroeconomics, which prepares them well for careers in the field. Macroeconomics also sits at the junction of finance and politics, so people with an understanding of different forms of government and how they approach financial decisions often have the skills to excel in macroeconomics jobs.
A knowledge of macroeconomics is an excellent skill set for someone who wants to work with and analyze financial markets on a large scale. As government economic policies and multinational corporations have an increasing effect on the marketplace as a whole, macroeconomics expertise increasingly comes in handy for making business plans. The ability to understand and analyze economic data can help you identify trends and forecast future financial direction. Whether you're in the market for a new job or want to advance in your current workplace, learning the principles and applications of macroeconomics can help you improve your career in business and take advantage of opportunities to achieve greater success.