Political Science

Conceptual Understanding of Macroeconomics Interrelationships
Among Technology, Industry and National Economy Viewed from the Central
Theme of 21st Century Human Civilization Chemical Engineering as an Example

The subject is pertaining to the entirety of human history, past present and future where macroeconomics played a very important role in shaping the national economy. In all the field of economics, macroeconomics covers more than the other field of economics. Conceptual understanding is very important in dealing with this subject.

Macroeconomics can be related to the other field or branch of sciences. As an example, chemical engineering is illustrated as a case to explain how macroeconomics connects industry with national economy.

It is stated that United States of America face economic crisis where this crisis can also become an economic crisis of the entire civilization. It is viewed this way because present time, the 21st century, the world is becoming one entity. Some of the crises that the United States of America is dealing with are the investment banks that are bankrupt and housing crisis. From short term economic problems, this can lead to a long term crisis. Using short term solutions are not adequate to resolve economic crisis, instead, concentrate on employing macroeconomic policy to create jobs and employment. Restructuring person s security in terms of prime economic health and the cultural well being of people can also help resolve economic problems. Resolving economic crisis at the United States can also lead to the answers to the problem of the other part of the world because the world today is becoming just one entity where the problem of a part of a globe is a problem of the entire human civilization.

The core concepts of the 21st century civilization are the energy, international peace and security, environment and human health where these also serve as the fundamental issues of present time. Human civilization cannot survive without strong global leadership. It can be seen from the history of human civilization that there are three global leaderships. First is the Roman Empire where the idea of the system is applied. Second is the British Empire that employs rationalism and the third is the United States leadership. Global leadership is very important because as stated, the whole world is one entity, what happens to some part of it may also happen at the other part in an instant.

The paradigm of 21st century is sustainability in the human well being. Sustainability is that continued civilization without hurting the future generation. But it is impossible not to hurt the upcoming generation because of the rapid advance of technology. So as much as possible, minimize the damage in terms of environment. In other words, human well being is the goal of the paradigm.
Added value is one of the essential ideas of macroeconomics. People in the United States have been studying foreign money and not their own because they are capitalist economy. Because of this, it directed the US to a certain problem in economy. As we can see, Asian countries like Japan, China and Korea make money through their exports and imports and then they deposit it in the US. The money going out also comes back and then the US got to spend this money. In the process, US economy is eroded where manufacturing industry are damaged so much because their industry are not being competitive. To stop the continuous erosion, spending foreign money must be stopped and also develop national system immediately to handle the productivity issues.

In understanding the relation of chemical engineering with macroeconomics, it must be first stated how chemical engineering started in the US. The first paradigm of chemical engineering is obvious in 1923. At that time, automobile was introduced where gas and oil became a significant part of the century. Second paradigm is the transport phenomenon and the third paradigm is the sustainability of the human well being. The unifying concept of all the paradigms is the survival issue and the life enhancement issue of the 21st century civilization. Chemical engineering is applied where judgment to develop economic ways of using materials and energy for the benefits of mankind. Chemical engineering primarily exists to support the chemical industries. Engineering sciences greatly differs with other pure science like mathematics, physics and chemistry because engineering is always associated with industry not like the pure sciences. Industry is a macroeconomic entity like manufacturing industry where engineering sciences are always connected but not all industries are manufacturing one. Chemical engineering provides chemical industry with inexpensive materials, chemical engineering technology and also chemical engineers.

Chemical industry is an entity of macroeconomics producing added value GDP. This GDP is the summation added value where it uses chemical engineering technology. Thus, every industry should contribute to the GDP of the national economy. Macroeconomics is the one that connects the industry with national economy. This industry is an entity of macroeconomics that must be competitive in order to gain added value GDP. In order to gain added value GDP, innovation must be conceptualized where innovation is the introduction of something new, new idea or new method because 21st century is a century for innovation.