Abstract
In this paper, we try to analyze the macroeconomic reasoning in different methodological issues. Subsequently, we try to touch some current macroeconomic debates on aggregations, relations, monetary and real sectors analyses. We assess that what we know about the behavior of macroeconomic variables is just our understanding from empiricism, and we have rarely found the laws of linkages among macroeconomic variables. We also conclude that successive theories have an intuitional foundation. It seems that to improve macroeconomic theories and policies, we need to be redirected to basic philosophical thinking about the macroeconomic theoretical foundation and try to rebuild a new concrete base for macroeconomics.
Highlights
Despite the existence of a long history in the realm of macroeconomic theorization, it seems that this important area of economic analysis needs fresh methodological bases
The first category is often called "neoclassical synthesis" because, in a simple, general equilibrium setting, the framework appears to be consistent with the traditional microeconomic analysis in terms of supply and demand
Disregarding the how macroeconomic aggregates are constructed and their structural definitional problems, what we know about the behavior of macroeconomic variables is just our understanding from empiricism, and we have rarely found the laws of the inter-relationship among macroeconomic variables
Summary
Despite the existence of a long history in the realm of macroeconomic theorization, it seems that this important area of economic analysis needs fresh methodological bases. At the micro level of analysis; the characteristics of the phenomenon is more or less under the eyes of the investigator. He looks at micro-phenomena as a small specimen that has billions of similars. He can think about the similarities and dissimilarities of micro-phenomena to find some hypothesis or conjectures for explaining their behaviors. The same does not exist at the macro level of analysis At this level, observations are aggregated; samples are not mainly similar; they are not numerous, and constructing hypothesis comes from sense and feeling not scrutinized investigation. Microeconomics is the study of individual economic units and their interactions and is often contrasted with macroeconomics, which is concerned with the behavior of economic aggregates
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