A Unified Approach to Economic Theory

Demonstrating a balanced treatment of both classical and Keynesian economics, Macroeconomics presents macroeconomic theory in a big-picture way. Comprehensive coverage makes it easy for instructors to align chapters to fit their own syllabi, and the text helps instructors prepare students to analyze real macroeconomic data used by policy makers and researchers. This text uses a unified approach based on a single economics model that provides students with a clear understanding of macroeconomics and its classical and Keynesian assumptions.

The 8th Canadian edition of Macroeconomics has been written to better describe and evaluate macroeconomic events in ways relevant to Canadian students. The eighth Canadian edition tightens its focus on the critical issues of macroeconomics, and introduces changes to better fit with how instructors teach intermediate macroeconomics.

Table of Contents

Part I: Introduction

Chapter 1: Introduction to Macroeconomics

Chapter 2: The Measurement and Structure of the Canadian Economy

Part II: Long-Run Economic Performance

Chapter 3: Productivity, Output, and Employment

Chapter 4: Consumption, Saving, and Investment

Chapter 5: Saving and Investment in the Open Economy

Chapter 6: Long-Run Economic Growth

Chapter 7: The Asset Market, Money, and Prices

Part III: Business Cycles and Macroeconomic Policy

Chapter 8: Business Cycles

Chapter 9: The IS–LM–FE Model: A General Framework for Macroeconomic Analysis

Chapter 10: Exchange Rates, Business Cycles, and Macroeconomic Policy in the Open Economy

Chapter 11: Classical Business Cycle Analysis: Market-Clearing Macroeconomics

Chapter 12: Keynesian Business Cycle Analysis: Non—Market-Clearing Macroeconomics

Part IV: Macroeconomic Policy: Its Environment and Institutions

Chapter 13: Unemployment and Inflation

Chapter 14: Monetary Policy and the Bank of Canada

Chapter 15: Government Spending and Its Financing

Appendix: Some Useful Analytical Tools