Changes

== Development of Macroeconomics ==

== Development of Macroeconomics ==

Macroeconomics is a relatively new field of study, gaining attention during the 1930s; with the term first being used by the Norwegian Nobel prize-winning economist Ragnar Frisch<ref>http://cepa.newschool.edu/het/profiles/frisch.htm</ref> although naturally the principles upon which it is founded have been in existence far longer. During the 1930s it became possible for the first time to collect increasingly detailed economic data on national income, balance of trade and the current account; allowing for a more precise analysis of the entire national economy.  

Macroeconomics is a relatively new field of study, gaining attention during the 1930s; with the term first being used by the Norwegian Nobel Prize-winning economist Ragnar Frisch<ref>http://cepa.newschool.edu/het/profiles/frisch.htm</ref> though naturally the principles upon which it is founded have been in existence far longer. During the 1930s it became possible for the first time to collect increasingly detailed economic data on national income, balance of trade and the current account; allowing for a more precise analysis of the entire national economy.  

=== The Great Depression ===

=== The Great Depression ===