Introduction to Economics
Charles-Albert Ramsay
Introductory text for college and freshman-university courses in Principles of Economics, including Microeconomics, Macroeconomics, History of Economic Thought, and the Economics of Climate Change and the Environment.
The Science of Economies
This section covers important terms and concepts you need to understand economics as a social sci...
What is Economics?
Why Should I Care? Environmental destruction, global warming, poverty, and the state of democrac...
Important Economic Terms
Why Should I Care? We must agree on basic definitions before we start arguing about how to run t...
The Problem of Scarcity
Why Should I Care? Everyone might want or need a private jet. And God knows our needs and wants ...
The Costs of Production
Why Should I Care? Compare clean water and diamonds, which is more expensive? Which is more impo...
Advanced Applications of the Production Possibilities Frontier
Why Should I Care? The Production Possibilities Frontier (PPF) model can be used to discuss many...
Systems Analysis
Why Should I Care Studying scarcity, choices and trade-offs is important. However, the fact that...
Positive and Normative Principles
Why Should I Care? Many of the arguments presented by economists are based on models and a forma...
The Three Most Cited Economists
Why Should I Care? These guys are dead. But their ideas are still relevant to this day. What th...
Institutions and Political-Economy Systems
Why Should I Care? Would you prefer to live in a system where people are free to produce and buy...
Women in Economics
Why Should I Care? Women have made important contributions to the field of Economics which may g...
Markets
This section covers the microeconomic analysis of markets, including an individual transaction ap...
The Basics of Markets and Transactions
Why Should I Care? Many economists believe the “free market” knows best. This opinion has great ...
Marshall's Supply and Demand
Why Should I Care? How can you make predictions about the future? Markets are subject to complex...
The Commons, Club Goods, and Public Goods
Why Should I Care? Markets are not perfect, and the reason has to do with the type of product de...
Demand
Why Should I Care? There seem to be rules that govern markets. For example, no one can sell more...
Supply
Why Should I Care? Producers come to the market with a completely different mindset than do buye...
Monopoly and Imperfect Competition
Why Should I Care? Markets are not always perfect, and consumers sometimes pay too much for what...
Self-Regulating Markets
Why Should I Care? Economists believe that free market prices are very rich and subtle informati...
Market Disruption
Why Should I Care? Markets are supposed to be stable and self-regulating. But social and natural...
Elasticity
Why Should I Care? The way markets work depends on how people react to changes. If people keep b...
Indicators
This section covers macroeconomic aggregate measurements such as GDP, unemployment, and price inf...
The Circular Flow of Money
Why Should I Care? What you do affects other people. The money you spend on clothes, music, and ...
Gross Domestic Product
Why Should I Care? People need to know how big our economy is, and whether or not it is growing....
Inflation
Why Should I Care? Everyone cares about prices. When things are cheap, we are richer. And when t...
Labour Markets
Why Should I Care? The level of employment determines how wealthy most people are. Not having a ...
Labour Markets Analysis
Why Should I Care? Labour market outcomes are one of the most important aspects of the economy, ...
Money
Why Should I Care? The amount of money in circulation is a really important issue in economics. ...
Business Cycles
Why Should I Care? Our economy is not always stable. It grows and shrinks, sometimes violently, ...
International Accounts
Why Should I Care? Most of the things we buy nowadays come from abroad. If they become more expe...
Canada in the World Economy
Why Should I Care? The world you know is globalized. It was not quite that way before. What goes...
Macroeconomic Policy
This section discusses the macro institutions such as Parliament, the Central Bank, and their res...
The Government Budget
Why Should I Care? Politicians are taxing you, and spending your money. You might be interested ...
The Quebec Budget
Why Should I Care ? If you live in Quebec, you would be interested in knowing how your taxes are...
Fiscal Policy
Why Should I Care? Politicians are taxing you, and spending your money. You might be interested ...
The Banking System
Why Should I Care? The financial industry holds the key to any important changes we need to make...
Monetary Policy
Why Should I Care? When the Bank of Canada prints too much money, we are all the poorer. But if ...
Macroeconomic Models
This section presents macroeconomic models such as the Keynesian Cross, AD-AS, Long-Run Growth, a...
Keynesian Macroeconomic Theory
Why Should I Care? Politicians spend your money. You might want to understand what their argumen...
Applications in Monetary Policy (Keynesian Cross)
Why Should I Care? Since monetary policy is inherently inflationary, at least potentially, it's ...
Consensus Macroeconomic Theory
Why Should I Care? Politicians spend your money. You might want to understand what their argumen...
Long-Run Consensus Macroeconomic Theory
Why Should I Care? Comparing actual production levels to the full potential of our economy is us...
Applications in Monetary Policy (AD-AS)
Why Should I Care? Since monetary policy is inherently inflationary, at least potentially, it's ...
Economic Growth, Innovation and Productivity
Why Should I Care? Our levels of employment and prosperity depend on the size of our economy. Th...
Interviews
Cases on Innovatank
The Case of Beer
The Science of Economies - Important Economic Terms Introduction Beer is beer, right? Well, tha...
The Case of Gas
Markets - Monopoly Introduction Who sets the price of gas? Over the last few years, car drivers...
The Case of the Great Recession
Aggregates - Business Cycles Introduction A long long time ago, in a land not so far away, came...
The Case of the COVID-19 Budget
Macroeconomic Policy - Fiscal and Monetary Policy Introduction In 2020-21, the liberal Trudeau ...
Case Template
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