Principles of Macroeconomics (Lyryx)

Abstract

Principles of Macroeconomics is an adaptation of the text, Macroeconomics: Theory, Markets, and Policy by D. Curtis and I. Irvine, and presents a complete and concise examination of introductory macroeconomics theory and policy suitable for a first introductory course. Examples are domestic and international in their subject matter and are of the modern era -- financial markets, monetary and fiscal policies aimed at inflation and debt control, globalization and the importance of trade flows in economic structure, and concerns about slow growth and the risk of deflation, are included. This text is intended for a one-semester course, and can be used in a two-semester sequence with the companion text, Principles of Microeconomics. The three introductory chapters are common to both books.

This edition has been revised and updated from the 2017 edition to cover Canadian economic performance and policy using the latest data and information to the second quarter of 2020. Par- ticular attention is given to updating the coverage of aggregate output, incomes, employment, unemployment and inflation, monetary policy and fiscal policy. This latest edition continues to discuss and explain macroeconomic events in terms of current theory, models and approaches to monetary and fiscal policy. Preliminary estimates of the economic impact of policies to contain the novel coronavirus including large changes in fiscal and monetary polices to moderate these impacts.