2 Why learn macroeconomics? 1.The macroeconomy affects society's well-being. example: Unemployment and social problems 2.The macroeconomy affects your well-being. example 1: Unemployment and earnings growth example 2: Interest rates and mortgage payments 3.The macroeconomy affects politics current events. ·example: Inflation and unemployment in election years CHAPTER1 The Science of Macroeconomics slide 12CHAPTER 1 The Science of Macroeconomics slide 12 Why learn macroeconomics? 1. The macroeconomy affects society’s well-being. ▪ example: Unemployment and social problems 2. The macroeconomy affects your well-being. ▪ example 1: Unemployment and earnings growth ▪ example 2: Interest rates and mortgage payments 3. The macroeconomy affects politics & current events. ▪ example: Inflation and unemployment in election years 2