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.