Take a big-picture view of the economy.

What does a Macroeconomist do?

The economy is structured with individuals and wholes, the individuals being the economic behaviors of people and companies, and the wholes being the collective economic factors influencing large geopolitical entities, including regions, nations, and the world. A Macroeconomist studies the wholes.

Essentially, that means you’re concerned with events in the larger economy when you’re a Macroeconomist. You assess the economy via large-scale economic indicators such as gross domestic product (GDP), inflation, unemployment rates, existing home sales, retail sales, interest rates, and the Consumer Price Index (CPI), just to name a few. Using these indicators and others, you identify and examine historical trends, which you use to develop models and make forecasts. Your employer – typically a private company, bank, research institute, or government – then uses those models to predict the future for the purpose of setting prices, creating business strategies, and developing policies.

An adviser on all things fiscal and financial, you spend your days as a Macroeconomist studying data, preparing interpretive reports, and developing recommendations based on your analyses. Your higher purpose is to help companies, banks, and governments avoid economic recessions and depressions.

Because you focus on the big economic picture, you’re the financial equivalent of a Meteorologist: Figuratively speaking, you look at large weather systems so you can warn people when it’s going to rain!