Second Edition, Canadian Edition   ©2014

Macroeconomics: Canadian Edition

Paul Krugman (City University of New York) , Robin Wells , Iris Au , Jack Parkinson

  • ISBN-10: 1-4292-4006-7; ISBN-13: 978-1-4292-4006-2; Format: Paper Text, 752 pages
Following is a brief selection of Canadian material: more instances are given for each chapter.
• Introduction: Any Given Sunday: Halifax’s Spring Garden Road as an example of the market economy in action.
• Chapter 2: Economics in Action: Economists, Beyond the Ivory Tower: Looking at jobs for Canadian economist outside academia.
• Chapter 3: Business Case: Good Exchanges Make Great Cities: Comparing the commodities exchanges in Chicago and Winnipeg.
• Chapter 4: Economics in Action: The Lobsters of Atlantic Canada: How quotas control the supply of lobster in Atlantic Canada.
• Chapter 5: For Inquiring Minds: Softwood Lumber Dispute: A history of the contentious softwood lumber trade between Canada and the United States.
• Chapter 5: Economics in Action: Freeing Canada’s Trade with the World: Discussion of the Canada–Chile Free Trade Agreement and Canada’s current free-trade negotiations.
• Chapter 6: Opener: Macroeconomic Fluctuations: The impact of the Great Depression on Canadians and the lessons learned.
• Chapter 6: Economics in Action: Comparing Recessions: Comparing how Canada and the United States were affected by, and responded to, the Great Recession.
• Chapter 7: Figure 7-3: Canada’s GDP in 2011: Two Methods of Calculating GDP.
• Chapter 7: Economics in Action: Creating the National Accounts: The history of Canada’s national accounts, and Statistics Canada’s role in monitoring them.
• Chapter 10: The Unemployment Rate: Determining various unemployment rates in Canada and comparing them to the real GDP growth rate.
• Chapter 10: Economics in Action: A Housing Bubble in Vancouver: A bursting housing bubble in the U.S. triggered the financial crisis of 2008. Is a similar bubble, with the same potential for crisis, now building in Canada?
• Chapter 11: Opener: In Cod We Trusted—The Cod Fishery in Newfoundland and Labrador: How the moratorium on cod fishing affected the economy of Atlantic Canada.
• Chapter 11: Economics in Action: The Multiplier and the Great Depression: How and why Canada’s multiplier has changed since 1929.
• Chapter 12: Opener: Shocks to the System: The financial crises of 2001 and 2008 required different policy responses. This opener discusses the difficult problem faced by Mark Carney, governor of the Bank of Canada in 2008, when stagflation hit the economy.
• Chapter 12: Economics in Action: Is Stabilization Policy Stabilizing?: How the Bank of Canada has responded to different recessions.
• Chapter 15: Opener: 2012 Canadian of the Year: A profile of Mark Carney, former governor of the Bank of Canada, and the role of the Bank of Canada in regard to monetary policy.
• Chapter 17: Regulation in the Wake of the Crisis: How the Canadian government changed mortgage regulations after the banking crisis of 2008, which began in the U.S., to reduce the likelihood of such an event happening here.
• Chapter 18: Economics in Action: The End of the Great Depression: Fiscal policy and the end of the Great Depression.