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Principles of Macroeconomics Canadian Edition
First Edition| ©2023 Kevin Milligan; Philip Oreopoulos; Betsey Stevenson; Justin Wolfers
Written specifically for a Canadian student audience. Milligan, Oreopoulos, Stevenson, and Wolfers’ new Principles of Macroeconomics emphasizes that every decision is an economic decision. The authors’ use compelling explanations and Canadian-centered real-life examples to help students
Written specifically for a Canadian student audience. Milligan, Oreopoulos, Stevenson, and Wolfers’ new Principles of Macroeconomics emphasizes that every decision is an economic decision. The authors’ use compelling explanations and Canadian-centered real-life examples to help students develop and apply economic intuition to their everyday decisions. It’s a fresh take on a wide range of foundational topics, derived from the most widely adopted new principles text in a generation.
The Achieve online course system offers the e-book with a variety of assessment options—plus pre-built content and easy LMS integration for optimal course management.
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Written specifically for a Canadian student audience. Milligan, Oreopoulos, Stevenson, and Wolfers’ new Principles of Macroeconomics emphasizes that every decision is an economic decision. The authors’ use compelling explanations and Canadian-centered real-life examples to help students develop and apply economic intuition to their everyday decisions. It’s a fresh take on a wide range of foundational topics, derived from the most widely adopted new principles text in a generation.
The Achieve online course system offers the e-book with a variety of assessment options—plus pre-built content and easy LMS integration for optimal course management.
Features
Achieve
Achieve combines an interactive e-book with a variety student activities, robust assessments, extensive instructor resources, and easy LMS integration
In Achieve
- Thousands of assignable, editable assessment questions, available through LearningCurve adaptive quizzing and a carefully developed, high-quality test bank.
- Work It Out exercises walk students through the problem-solving process.
- “Think Like An Economist” podcast, created by Stevenson and Wolfers and aligned with every text chapter. This fun and engaging podcast (with accompanying assessment) shows students how to draw on the big ideas of economics to make better decisions in their own lives.
- Graphing Reserve, an all new interactive graphing tool that helps students improve data literacy and understand economic models..
In the text
An intuitive decision-making framework based on four key principles is referenced throughout the text and guides students to make better choices in all aspects of their lives.
Thoroughly current and focused on Canada. From the labour-market and social insurance to the practices of Bank of Canada, this text focuses on Canadian institutions, data, and research. Truly local and accessible, it includes fun examples and thorough coverage of the social impact and economic policy issues related to the Covid19 pandemic.
A cutting-edge presentation of the Macro economy emphasises how microfoundations underpin macroeconomic theory, helps students apply their understanding of the macroeconomy in their professional and personal lives, and provides the most realistic and current presentation of monetary policy. To convey the understanding of short-run macroeconomic fluctuations, Holden, Stevenson, and Wolfers offer instructors a choice: 1) a modern framework including the IS curve to explain spending decisions, MP curve to describe monetary policy, and Phillips curve to explain inflation, OR 2) a traditional AD-AS approach.
New to This Edition
“Applications, a modern approach, student-friendly examples, and clever visuals help an instructor explain concepts. Extremely clever choice of examples; no bananas and apples! Examples speak to the student in their language - starting with zippers and the choice of cellular service providers. Microeconomics: Unlike traditional economics textbooks, this book is not fixed on clear-cut definitions, such as drawing a sharp distinction between market structures. I believe this approach makes the book more relevant and applicable. I am especially looking forward to the Canadian edition of Macroeconomics: In most good books, monetary policy, fiscal policy, policy tools, data, and examples are tailored around the US economy. Cannot emphasise enough that there is a need for a modern textbook for a Canadian instructor. In my previous classes, I assigned Learning Curve as a pre-lecture assignment. Student feedback was very positive.”
- Okila Elboeva, King's University College“I was very pleased to see the way important concepts are presented. The examples used are also very interesting -and applied to Canada. Excellent! I really like the writing approach: first explain the concept in general terms, then introduce details (for example, the shape of inelastic demand...) and finally do the calculations. It is a lot more fun and relevant to real-life for students. Decision points are an interesting approach; it is the first time students "take the decision for themselves" instead of only reading what a hypothetical firm would do (table or graph form). I think it hits home much more this way.”
- Catherine Boulatoff, Dalhousie University“Most of the examples are easy to understand and students can relate to them. The podcasts are an engaging complement to the text.”
- Ahmet Ozkardas, University of Waterloo“The text is fresh, new and exciting. I very much like the examples. I find them to be on point and relatable to the students (beer and soft drinks, and even prescription meds). These are the things the students will see on a daily basis. Often much of what we see is about taxing widgets and wheat support prices or dairy quotas. I can tell much thought went into this and am pleased with the final outcome.”
- David Desjardins, Concordia University“I enjoyed this text and believe it would resonate well with today's undergraduate students. Issues of fairness, equity, and intrinsic fulfilment deserve a place alongside cost-benefit analysis. I thought the Canadian specific examples were overall quite good. I believe the text is applicable to a Canadian audience. The US examples also seem to apply to a Canadian audience. I suspect that Canadian women are equally well-served to ask for a raise as their American counterparts.”
- Robert McKeown, York University

Principles of Macroeconomics Canadian Edition
First Edition| ©2023
Kevin Milligan; Philip Oreopoulos; Betsey Stevenson; Justin Wolfers
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Principles of Macroeconomics Canadian Edition
First Edition| 2023
Kevin Milligan; Philip Oreopoulos; Betsey Stevenson; Justin Wolfers
Table of Contents
Preface
A Quick Review of Graphs
PART I: Foundations of Economics
Chapter 1: The Four Core Principles of Economics
Chapter 2: Demand and Consumer Choice
Chapter 3: Supply and Producer Choice
Chapter 4: Equilibrium: Where Supply Meets Demand
PART II: Analyzing Markets
Chapter 5: Welfare Economics: Evaluating Market Efficiency and Market Failure
Chapter 6: Gains from Trade and Comparative Advantage
Chapter 7: International Trade
Chapter 8: Inequality, Poverty, and Social Insurance
PART III: Macroeconomic Foundations and the Long Run
Chapter 9: Sizing Up the Economy Using GDP
Chapter 10: Economic Growth
Chapter 11: Unemployment
Chapter 12: Inflation and Money
PART IV: Micro Foundations of Macroeconomics
Chapter 13: Consumption and Saving
Chapter 14: Investment
Chapter 15: The Financial Sector: Banks, Bonds, and Stocks
Chapter 16: International Finance and the Exchange Rate
PART V: The Business Cycle
Chapter 17: Tracking the Business Cycle
Chapter 18: IS-MP Analysis: Interest Rates and Output
Chapter 19: The Phillips Curve and Inflation
Chapter 20: The Full Model: Linking Interest Rates, Output, and Inflation
Chapter 21: Aggregate Demand and Aggregate Supply
PART VI: Macroeconomic Policy
Chapter 22: Monetary Policy
Chapter 23: Government Spending, Taxes, and Fiscal Policy
APPENDIX: A Closer Look at Aggregate Expenditure and the Multiplier

Principles of Macroeconomics Canadian Edition
First Edition| 2023
Kevin Milligan; Philip Oreopoulos; Betsey Stevenson; Justin Wolfers
Authors

Kevin Milligan

Philip Oreopoulos

Betsey Stevenson
Betsey Stevenson is a professor of economics and public policy at the University of Michigan. Her research focuses on the impact of public policies on the labor market, and explores women’s labor market experiences, the economic forces shaping the modern family, and the role of subjective well-being data for public policy. She serves on the Executive Committee of the American Economic Association, and is also a research associate with the National Bureau of Economic Research, a fellow of the Institute for Economic Research in Munich, a visiting associate professor of economics at the University of Sydney, and a research Fellow with the Centre for Economic Policy Research in London. She served as a member of the Council of Economic Advisers from 2013 to 2015, where she advised President Obama on social policy, labor market, and trade issues. She also served as the chief economist of the U.S. Department of Labor from 2010 to 2011. Betsey is an occasional editorialist for Bloomberg, and a trusted presence in the public debate about economics and public policy. She earned a BA in economics and mathematics from Wellesley College and an AM and PhD in economics from Harvard University.

Justin Wolfers
Justin Wolfers is a professor of economics and public policy at the University of Michigan. He does research in both macroeconomics and applied microeconomics topics, and has explored unemployment and inflation, the power of prediction markets, the economic forces shaping the modern family, discrimination, and happiness. He is a research associate with the National Bureau for Economic Research, a fellow of the Brookings Institution, a fellow of the Peterson Institute for International Economics, a research fellow with the Centre for Economic Policy Research in London, a fellow of the Institute for Economic Research in Munich, a visiting professor of economics at the University of Sydney, and an international research fellow at the Kiel Institute for the World Economy in Germany. He has been an editor of the Brookings Papers on Economic Activity, a board member on the Committee on the Status of Women in Economics, a member of the Panel of Advisors of the U.S. Congressional Budget Office, among many other board and advisory positions. He is currently a contributing columnist for the New York Times , and has written about economic issues in numerous other outlets. He is frequently quoted in the media on economic policy and relied upon to provide unbiased assessments of the current state of the macroeconomy. Justin earned a BA in economics from the University of Sydney and an AM and PhD in economics from Harvard University.

Principles of Macroeconomics Canadian Edition
First Edition| 2023
Kevin Milligan; Philip Oreopoulos; Betsey Stevenson; Justin Wolfers
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Kevin Milligan; Philip Oreopoulos; Betsey Stevenson; Justin Wolfers | First Edition | ©2023 | ISBN:9781319456719
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Principles of Macroeconomics Canadian Edition
First Edition| 2023
Kevin Milligan; Philip Oreopoulos; Betsey Stevenson; Justin Wolfers
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