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ECON 2K03 (5)

Final Study Guide

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McMaster University
Jack Leach

Econ 2k03 – FINAL EXAM  This final exam will have: - Short Answer questions - True/False - Longer essay questions - One Synthetic MUCH larger essay The much larger essay will: - Draw material from different parts of the course - It will ask you to piece everything together - It looks at the larger issues WITHIN the Canadian economy - You will have a FIXED amount of space (3) pages He is looking for creativity when responding to the questions You may write down answers in point/bullet form This FINAL will look A LOT like Midterm 1 exam  ECO 2K3 study guide April 2013 The list below provides an indication of what I think were some of the key subjects we covered in the course. It is meant to give students an idea of what they might expect on the final exam in terms of question topics. It is neither an exhaustive list nor a list of actual exam questions. You should anticipate that some questions on the final that explore subjects related to the topics listed below. 1) The economic history of Canada can be divided into several distinct chronologic periods: 1. European rivalry and first contact with the First Nations to 1763 2. The British's Mercantilist period 1763-1846. 3. The search for new markets and import substitution 1846-1900 4. The Americanization of the Canadian economy 1900-1965 5. The Nationalist period 1965-1987 6. Canada as part of a North American economy 1988-present. Each of these periods represents a distinct set of economic policies and developments in the Canadian economy in terms of patterns of trade, investment, regional developments. You should have a sense of the key characteristics of each of these periods and how they differ from each other. 2) There were also a number of themes that ran through the course: 1. Impact of European mercantilist policies on Canadian economic development. 2. The different visions of development of the Manchester School and that of Friedrich List 3. Canadian efforts to develop a domestic market to stimulate the economy. 4. How early economic activity shaped the nature of Canadian entrepreneurship. 5. Canadian efforts to open up markets in the US, in the commonwealth and in the reset of the world for our goods. 6. Interaction between European settlers and the First Nations, the advantages of this interaction for both sides and the long-term costs to the First Nations peoples. 7. The role of foreign investment in the development of the Canadian economy and its advantages and disadvantages. 8. Imbalances in our current account and capital account with different trading partners. 9. The US as a reluctant trading partner until the post World War II period. 3) Questions of regional economic advantage were also explored: 1. The different experiences of Ontario and Quebec during their wheat booms and the transition to alternative economic activity as the wheat frontier moved westward. 2. How Confederation in 1867 and the National Policy in 1879 affected regional economies. 3. The Empire of the St.Lawrence as a vision for Canadian economic development.
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