File:DiagFuncMacroSyst.pdfA macroeconomic model is an analytical tool designed to describe the operation of the economy of a country or a region. These models are usually designed to examine the dynamics of aggregate quantities such as the total amount of goods and services produced, total income earned, the level of employment of productive resources, and the level of prices.

Macroeconomic models may be logical, mathematical, and/or computational; the different types of macroeconomic models serve different purposes and have different advantages and disadvantages. Macroeconomics models may be used to clarify and illustrate basic theoretical principles; they may be used to test, compare, and quantify different macroeconomic theories; they may be used to produce "what if" scenarios (usually to predict the effects of changes in monetary, fiscal, or other macroeconomic policies); and they may be used to generate economic forecasts. Thus, macroeconomic models are widely used in academia, teaching and research, and are also widely used by international organizations, national governments and larger corporations, as well as by economics consultants and think tanks.

Warwick McKibbin (born 21 April 1957 in Sydney) is an Australian Professor of Economics at the Australian National University who works across a wide range of areas in applied policy. He has published more than 200 scholarly articles and several books and is internationally known for his contribution to global economic modeling.

He initially studied at the University of New South Wales where he received a bachelor's degree with First Class Honors in both Economics and Econometrics and was awarded the University Medal in 1980. McKibbin then studied under Jeffrey Sachs at Harvard University and was awarded a PhD in Economics in 1986.

He is Director of the ANU Research School of Economics as well as an Adjunct Professor of the Australian Centre for Economic Research on Health. He formed the ANU Centre for Applied Macroeconomic Analysis (CAMA) in 2005 and was the inaugural Director of CAMA.

He is also the Professorial Fellow of the Lowy Institute for International Policy in Sydney and a non-Resident Senior Fellow at The Brookings Institution in Washington DC where he co-directs the Climate Change program.