Economic Analysis & Canadian Policy - 7th Edition - ISBN: 9780409899412, 9781483100548

Economic Analysis & Canadian Policy

7th Edition

eBook ISBN: 9781483100548
Imprint: Butterworth-Heinemann
Published Date: 1st January 1992
Page Count: 692
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Economic Analysis & Canadian Policy: Seventh Edition deals with concepts and theories in economics and its relation to Canadian economic policies. The major revision in this edition deals with the development of the real sector model for the macroeconomy. The book is divided into two parts. Part I is a general overview of economics and includes topics such as basic economic decisions, economic policies and analysis, supply and demand, market price, and the role of the government in the economy. Part II deals with the Canadian economy - its economic goals, economic growth, and national income; its banking systems; its fiscal policy, public debt, and budget deficit; and international trade policies, patterns, and rationale. Part III covers consumer demand, production costs, supply, market competition, and market structure. Part IV talks about labor market and wages, income distribution in Canada, and regional income disparity. The text is recommended for economists and financial analysts, especially those who would like to study about Canada's economy and its policies.

Table of Contents


Part One Economics and the Market Place

1 Economics: The Analysis of Choice

What is Economics?

Basic Economic Decisions

Economic Systems

Appendix: Economics and the Use of Graphs

2 Economic Analysis and Economic Policy

Normative and Positive Economics

Scientific Method in Economics

Difficulties with measurement

Some Basic Concepts

Microeconomics and Macroeconomics

3 Demand, Supply, and Market Prices

Demand for Consumer Goods and Services

Total Market Demand

Elasticity: Sensitivity to Price Changes

Supply of Consumer Goods and Services

Price Determined by Supply and Demand

Interdependence of Markets

Appendix: Further Elasticity Cases

4 Government in the Market Economy

Limitations of the Market System

Government in the Market Economy

Using the Price Mechanism for Public Policies

Part Two The Canadian Economy

5 Measuring Canada's Economic Performance

Canada's Economic Goals

Inflation and Price Stability

Unemployment and Full Employment

Economic Growth and National Income

National Income and Expenditure Accounts

Real Income per Capita

6 Aggregate Expenditure and National Income

Full Employment in Classical Economics

Theory of National Income Determination

Consumption Spending

Other Spending Components

Toward Equilibrium National Income

Moving the Equilibrium Level

Expenditure Multiplier

Acceleration Principle

National Income at Full Employment

Aggregate Demand

Aggregate Supply

7 Money and Banking in Canada

What is Money?

Canadian Banking System

Expansion and Contraction of Bank Deposits

Techniques for Regulating the Money Supply

8 Money and National Income

Money in Classical Economics

Demand for Money

Determination of the Interest Rate

Money, Interest Rate, and Aggregate Expenditure

9 Fiscal Policy and the Public Debt

Inflation-Unemployment Trade-Off

Fiscal Policy

Budget Deficits

Fiscal Policy in Canada

Public Debt

10 Monetary Policy and the Foreign Exchange Rate

Monetary Policy

Foreign Exchange Rates

Money Supply and Foreign Exchange Rates

Canada's Exchange Rate Policy

Canadian Experience with Monetary Policy

Appendix: Reforming the International Monetary System

11 Monetary, Fiscal, or Other Policies?

Monetary or Fiscal Policy?

Labor Supply Policies

Prices and Incomes Policies

Alternative Proposals

12 Economic Growth and Productivity

Economic Growth as a Basic Goal

Economic Growth in Canada: Experience and Policies

13 International Trade and the Balance of Payments

Canada's Pattern of Foreign Trade

Rationale for Trade

Restrictions on International Trade

Opening the Way for Trade

Canada's Tariff Policies

Balance of international Payments

Balance of Payments Equilibrium

14 Economics of the Public Sector

Government Expenditures


Taxation in Canada

Fiscal Federalism and Intergovernmental Transfers

Part Three Consumers and Producers

15 Consumer Demand

Marginal Utility and Consumer Decisions

Consumer Surplus

Substitution and Income Effects

Consumer Expenditure Patterns

Appendix: Indifference Analysis of Consumer Decisions

16 Production Costs

What Are Costs?

Short-Run Production and Costs

Long-Run Production and Costs

17 Supply Decisions in Competitive Markets

Market Structure

Perfect Competition

Output and Price under Perfect Competition

18 Monopoly and Imperfect Competition

Pure Monopoly

Price Discrimination

Monopolistic Competition


19 Evaluation of Market Structures

Performance of Firms

Models of Firms' Behavior: A Critique

20 Industrial Organization and Public Policy

Industrial Organization in Canada

Type of Firm

Public Policy on Industrial Organization

Public Policy on Monopoly and Oligopoly

Public Control of Natural Monopolies

Public Support for Restricted Competition

21 Economics of the Natural Resource


Significance of the Natural Resource Industries





Oil and Natural Gas

Foreign Ownership and Control of Canadian Industry

Part Four Distribution of Incomes

22 Demand for Factor Services

Demand for Factor Services: Marginal Productivity Theory

Imperfect Competition in the Product Market

Profit Maximizing and Cost Minimizing

23 Labor Markets and Wages

Wages and Wage Rates

Supply of Labor

Wage Determination under Perfect Competition

Wage Determination under Imperfect Competition

Structure of Wages in Canada

Appendix: The Labor/Leisure Choice Model

24 Labor Unions and Collective Bargaining

Size and Structure of Unions in Canada

Union Goals

Union Techniques and Tactics

Collective Bargaining Procedures

Union Effects on Labor Markets

Labor Legislation in Canada

25 Rent, Interest, and Profit

Rent and Land

Interest and Capital

Profit and the Entrepreneur

26 Income Distribution in Canada

Income Distribution among Productive Factors

Personal Distribution of Income


Anti-Poverty Programs and Proposals

27 Regional Income Disparity

Regional Income Differences in Canada

Policies and Programs to Reduce Regional Disparity




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