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Political Science
Luc Turgeon

March 3, 2013 Economic Policy Key Terms - Economic policy - National policy (first, second and third) - Import substitution industrialization - Liberal market economy Economic Policy - Different components o Monetary policy  Supply of money o Fiscal policy  Spending  Taxation o Industrial policy  Efforts to encourage the development and growth of specific sectors of the economy o Trade policy - Governmental action to influence the economy - Different objectives o Stimulate (or maintain) economic growth o Increase employment o Increase economic competitiveness o Balance of payments stability Economic Policy in Canada: The Main Actors - Federal government o Industrial policy o Monetary policy  Through the Bank of Canada (largely autonomous) o Fiscal Policy  Taxation (both corporate and personal tax)  Equalization o Free Trade Agreements Economic Policy in Canada: National Policy - Refers usually to the economic policy adopted by the Conservative Party of John A Macdonald in 1879 - Refers to the ‘conscious, nation-building po licies of successive federal governments” (Eden and Molot,93) o Smiley: “The most persistent expression of the nationalist impulse in Caada has been economic.” o Three national policies  First national policy (1
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