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Introduction to Macroeconomics Gross Domestic Product Inflation Unemployment Economic Growth The Great Depression Fiscal Policy, Budget Deficit and National Debt Money, Banking and Monetary Policy Major Macroeconomic Theories Fiscal and Monetary Authorities Policy Debate International Finance and Trade Macroeconomic Data
The author of the following article, J. Fallows, from the Atlantic Monthly examines and compares the North American and Asian macroeconomic system and policy objectives.
Statistics Canada provides information on the market value of all goods and services produced domestically in a given year as well as the distribution of income among factors of production.
Statistics Canada provides recent information
on the inflation rate as measured by the consumer price index.
Does the CPI seriously overstate the true increase
in the cost of living? What factors affect the upward and downward bias
in the CPI? If the CPI overstates the inflation rate should the government
reduce payouts and ease the path of deficit reduction? Click below and
find out the answers: Paul Krugman, in the following article argues
that monetary policy of either a zero inflation policy or the opposite
of a fast growth policy should be rejected. He proposes a shibboleth-free
policy: The following article meaures the cost of maintaining
a zero inflation rate policy at a 1 to 3% percent permanent drop in
employment The following brief from Davies, Glyn book “A
history of money from ancient times to the present day” discusses several
episodes of inflation occuring in the past and identifies several causes.
Statistics Canada provides recent information
on the unemployment, employment and partcipation rate in the following
internet site R. Topel, is providing a few reasons why the
natural rate of unemployment has been increasing in U.S.. He claims
that the unemployment is now an “unskilled” phenomenon. Eisner, argues that there is no foundation for
the economic reasoning that low unemployment rates endanger intensifying
inflation. His alternative model is consistent with both low unemployment
and inflation. Gross world income per capita has increased by
about twenty percent while per capita employment dropped by one percent
over the last two decades. Even though this job-less growth occurs some
people have too little time, while others have too much time at their
disposal. How should society allocate time? Explore the time dimension
with R. Gilman and J. Smith
From the Facing the Future Organization:
Want to find out what time it is? Is our society
encountering ecological limits? What alterations need to be established
in areas of technology, industrial output and population in order to
move our system to a sustainable future? What type of regulations will
lead to a sustainable development? Views from R. Gilman:
If your interested in figuring out what is money,
the functions of money, causes of the development of money, forms of
money, the invention of banking and coinage, Greek coinage, money exchange
and credit transfer, the monopoly of minting, and the relationship between
money and warfare, then click below: "Just as fiat money replaced specie-backed paper currencies, electronically initiated debits and credits will become the dominant payment modes, creating the potential for private money to compete with government-issued currencies." Jerry L. Jordan, Federal Reserve Bank of Cleveland
Monetary policy and management of Debt from the
Central Bank’s prospective. Check out the inflation control targets
set by the monetary authority. The strongest proponent of monetarism and free
markets, Milton Friedman, is interviewed on his ideas about government
intervention, the role of the federal reserve bank, inflation, deposit
insurance policy, monetary unions, the New School of Classical Economics,
and the unsolved economic problems of the day.
What does Newtonian Physics have to do with Classical
Economics? Relativity Theory and Monetary Economics? Curious? Click
below and find out: The Region of the Federal Reserve of Minneapolis
decided to interview Adam Smith the architect of modern economics. However,
interviewing Mr. Smith is bit of a problem as we all are aware. To solve
the problem The Region, asked an expert, Professor E. West, to serve
as a medium:
The following site provides a chronological order
of events taking place during the prosperous 20s and the Great Depression
era. Gary H. Stern, President of the Federal Reserve
Bank of Minneapolis, reviews, provides alternative explanations and
recommends policies in order to avoid the economic instability of the
Great Depression.
The following three economists argue that certain
markets cannot allocate resources efficiently and sometimes government
intervention is needed. Find out what they think about how economic
policy should be conducted. The next three economists give a different view
on economic policy. They belong to the new classical economic school
of thought. All three advocate for minimal government intervention to
smooth the business cycles. Monetary policy and economic objectives directly
from previous Board of Governers of the U.S. Federal Reserve.
What does Rational Expectation mean? What role do these expectations have in decision making? In designing Economic Policy? The following article provides some views from a New Classical Prospective. Rational Expectation and Economic Policy, by C. Nelson
Find statistical information on Canada’s balance
of payment; the recent trade account, the current and capital account
position.
Two famous international institutions with valuable
information
Information on the 1997 federal budget and the
deficit from CBC newsworld: Click below and see our debt clock but do not
forget that there is also a GDP clock working at the same time
Economists' Statement opposing a Balance Budget
Amendment |
| Economic Magazines on the Internet |
| Internet Resources for Microeconomics |
| Internet Resources for Money and Banking |
| Internet Resources for Public Economics |