CurtisIrvine-Macroeconomics-2017A
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Table of Contents
Part One: Introduction
Introduction to key ideas
What's it all about?
Understanding through the use of models
Opportunity cost and the market
A model of exchange and specialization
Economy-wide production possibilities
Aggregate output, growth and business cycles
Key concepts
End of chapter exercises
Theories, models and data
Observations, theories and models
Variables, data and index numbers
Testing economic models & analysis
Diagrams and economic analysis
Ethics, efficiency and beliefs
Key concepts
End of chapter exercises
The classical marketplace – demand and supply
Trading
The market's building blocks
Demand and supply curves
Other influences on demand
Other influences on supply
Simultaneous supply and demand impacts
Market interventions
Individual and market functions
Key concepts
End of chapter exercises
Part Two: Introduction to Macroeconomics
Economic activity and performance
Macroeconomic performance
Canadian economic performance
National accounts
Measuring GDP
Nominal GDP, real GDP & the GDP deflator
Per capita real GDP
Key concepts
End of chapter exercises
Output, business cycles, growth & employment
Aggregate demand & aggregate supply
Equilibrium output and potential output
Growth in potential output
Business cycles and output gaps
Output gaps and unemployment rates
Adjustments to output gaps?
The role of macroeconomic policy
Key concepts
End of chapter exercises
Aggregate expenditure & aggregate demand
Short run aggregate demand and output
Consumption, saving, and investment
The export and import functions
Aggregate expenditure and equilibrium output in the short run
The multiplier: changes in aggregate expenditure and equilibrium output
Equilibrium output and the AD curve
Key concepts
End of chapter exercises
The government sector
Government in Canada
Government expenditure, taxes, and equilibrium real GDP
The government's budget and budget balance
Fiscal policy & government budget balances
Automatic and discretionary fiscal policy
The public debt and the budget balance
Aggregate demand & equilibrium output
Key concepts
End of chapter exercises
Part Three: Financial Markets & Economic Activity
Money, banking & money supply
Money and the functions of money
Measures of the Canadian money supply
Banking in Canada today
Money created by banks
The monetary base and the money supply
Key concepts
End of chapter exercises
Financial markets, interest rates, foreign exchange rates & AD
Portfolio choices between money and other assets
Bond prices, yields and interest rates
The demand for money balances
Financial market equilibrium & interest rates
Interest rates and foreign exchange rates
Interest rates, exchange rates, and aggregate demand
The transmission mechanism
Key concepts
End of chapter exercises
Central banking and monetary policy
Central banking and the Bank of Canada
Central bank operating techniques
Monetary policy objectives & instruments targets
Monetary policy rules
The long-run neutrality of money
Monetary policy indicators
Key concepts
End of chapter exercises
Part Four: Real GDP, Business Cycles, Policy and Growth
A traditional AD/ AS model
The construction of an AD curve
The slope and position of the AD curve
Short-run aggregate supply
Short-run equilibrium output and prices
Business cycles in output and prices
Internal adjustment to output gaps?
Monetary policy and fiscal policy
Key concepts
End of chapter exercises
An AD/ AS model of the inflation rate and real GDP
Inflation and aggregate demand
Aggregate supply
The equilibrium inflation rate
Adjustments to output gaps
Monetary and fiscal policies
Recession, disinflation and deflation
Key concepts
End of chapter exercises
Economic growth
Growth in potential output
Growth in per capita GDP
Technology & growth in per capita output
Neoclassical growth theory and the convergence hypothesis
Recent growth studies and policy issues
Key concepts
End of chapter exercises
Part Five: International Macroeconomics and Trade Theory
International Macroeconomics
The balance of payments
The foreign exchange market
Flexible exchange rates and fixed exchange rates
Monetary and fiscal policy with flexible exchange rates
Monetary and fiscal policy with fixed exchange rates
Key concepts
End of chapter exercises
International trade
Trade in our daily lives
Canada in the world economy
Comparative advantage: the gains from trade
Intra-industry trade
Trade barriers: tariffs, subsidies and quotas
The politics of protection
Institutions governing trade
Key concepts
End of chapter exercises
Glossary
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