Economic Analysis & Canadian Policy

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.

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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
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
Oligopoly
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
Industries
Significance of the Natural Resource Industries
Agriculture
Forestry
Fishing
Mining
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
Poverty
Anti-Poverty Programs and Proposals
27 Regional Income Disparity
Regional Income Differences in Canada
Policies and Programs to Reduce Regional Disparity
Glossary
Index