BBUS 1007 – Macroeconomics: Canada in the Global Environment – Course Structure and Key Topics

Course Overview

This course, BBUS 1007 – Macroeconomics: Canada in the Global Environment, provides a comprehensive introduction to macroeconomic principles, focusing on the Canadian context and its role in the global economy. The course covers foundational concepts, key macroeconomic variables, national income measurement, macroeconomic models, government and trade, economic growth, money and banking, monetary policy, and related topics.

Weekly Topics and Structure

Week	Main Topic	Key Subtopics	Associated Chapter(s)
1	Economic Issues and Concepts	Complexity of the modern economy, scarcity, choice, opportunity cost, decision-making, alternatives to market economy	Chapter 1
2	Demand, Supply and Price	Demand, supply, price determination	Chapter 3
3	What Macroeconomics is All About	Key macroeconomic variables, growth vs. fluctuations	Chapter 19
4	The Measurement of National Income	National output, value-added model, national income accounting	Chapter 20
5	The Simplest Short-Run Macro Model	Aggregate expenditure, equilibrium national income, changes in equilibrium	Chapter 21
6	Adding Government and Trade to the Simple Macro Model	Government, foreign trade, equilibrium national income, demand-determined output	Chapter 22
7	Real GDP and the Price Level in the Short Run	Demand side, supply side, macroeconomic equilibrium	Chapter 23
8	Intersession	Academic standing review, withdrawal information	-
9	From the Short-Run to the Long-Run: The Adjustment of Factor Prices	Adjustment process, AD and AS shocks, fiscal stabilization policy	Chapter 24
10	Long-Run Economic Growth	Nature and theories of economic growth, new growth theories, limits to growth	Chapter 25
11	Money and Banking	Nature of money, Canadian banking system, money creation, money supply	Chapter 26
12	Money, Interest Rates and Economic Activity	Bonds, demand for money, monetary equilibrium, strength of monetary forces	Chapter 27
13	Monetary Policy in Canada	Policy implementation, inflation targeting, lags, history of Canadian monetary policy	Chapter 28
14	Concluding Discussions	Review	-
15	Final Exam	Comprehensive assessment	-

Key Macroeconomic Concepts Covered

• Scarcity and Choice: Understanding how limited resources necessitate choices and trade-offs, leading to the concept of opportunity cost.

• Demand and Supply: Fundamental market forces that determine prices and quantities in the economy.

• National Income Accounting: Methods for measuring a country's economic performance, including GDP and value-added approaches.

• Macroeconomic Models: Theoretical frameworks for analyzing aggregate economic activity, including the simplest short-run model and models incorporating government and trade.

• Economic Growth: Examination of the factors and theories that drive long-term increases in real GDP.

• Money and Banking: The role of money, the structure of the Canadian banking system, and the process of money creation.

• Monetary Policy: Tools and objectives of central banks, with a focus on the Canadian context, including inflation targeting and policy lags.

Evaluation Structure

• Homework Assignments: 5 assignments, each worth 10% (total 50%)

• Quizzes: 5 quizzes, each worth 10% (total 50%)

• Final Exam: Comprehensive, worth 40%

Note: The schedule and evaluation structure may change as resources and circumstances require. Students are advised to consult the professor and the official college website for important dates and updates.