For cornerstone of macroeconomic policy is enhancing the welfare and quality of life for a country's residents.

So what are the strategic objectives that policy makers strive for to foster the stable and flourishing economy? Sustainable economic growth is paramount.

GDP growth rates are not just abstract figures.

They are vital indicators of living standards, job creation, and the funding for essential public services and infrastructure.

And expanding GDP is synonymous with a robust economy pulsing with activity and opportunities, yet that is not the entire picture.

While the priorities may shift based on a nation's unique economic landscape and its policymaker's vision, there are two other universally acknowledged macroeconomic goals alongside economic growth, price stability, or the management of inflation is critical.

There are two key problems with high inflation.

It chips away at consumers purchasing power and means uncertainty in the business environment, potentially dampening investment enthusiasm.

On the other hand, deflation can also stifle economic vitality as it often leads to a downturn in spending.

Hence, central banks diligently work to anchor inflation to a low and predictable rate ensuring stability. Full employment stands as another pillar of macroeconomic aims.

It's about enabling the maximum output of the economy while providing individuals with the dignity and security of work.

It's important to note that full employment does not mean the absence of unemployment, but rather the assurance that involuntary unemployment is as low as possible.

These macroeconomic objectives are not isolated targets, they're interwoven.

For instance, sustainable growth typically fosters higher employment levels, and price stability can be a catalyst for investment, which in turn fuels further growth.

Yet the art of macroeconomic policy lies in the delicate balance between these goals.

Over zealous efforts to stimulate growth, for example, can ignite inflation.

Thus, macroeconomic management should aim for achieving an equilibrium that optimizes these core objectives.