ECON 101 Lecture 1: ECON101TextbookQuizNotes-CHAPTER1
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ECON 101 Full Course Notes
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Current issues inside and outside of canada: productivity growth: Lies at the heart of the long-term increase in canadians" avg living standards. Productivity: measure of how much output is produced by 1h of work effort, and it has been rising gradually over the past century: population aging: The avg age of the canadian population is rising, due both to a long-term decline in fertility and to an increase in avg life-expectancy: climate change: Global climate change presents a challenge for the design of better economic policy, aimed at reducing greenhouse gas emissions without unduly slowing the growth of material living standards. It also presents a challenge for global diplomacy, aimed at getting all countries -- rich and poor -- involved in a collective effort of reducing their emissions: global financial stability, rising government debt, globalization: International trade and the ongoing process of globalization are crucial to canada"s economic prosperity. In what sense markets sometimes fail to work well.
