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Textbook Notes for ECON 295 at McGill University

MCGILLECON 295Paul DickinsonWinter

ECON 295 Chapter Notes - Chapter 28: Monetarism, Classical Economics, Money Supply

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5 Dec 2017
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Chapter 28: money, interest rates, and economic activity. Dichotomy between monetary & real sectors of the economy: In real sector, resources allocated
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MCGILLECON 295Paul DickinsonWinter

ECON 295 Chapter Notes - Chapter 26: Loanable Funds, Tidal Power, Diminishing Returns

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5 Dec 2017
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Sustained s in y* are a more powerful method of ing material living standards than the removal of recessionary gaps (recall: no paradox of thrift in lr
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MCGILLECON 295Paul DickinsonWinter

ECON 295 Chapter Notes - Chapter 19: Business Cycle

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5 Dec 2017
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To get $ value of total output, values of many different goods produced (total output = This gives nominal national income (total national income in cu
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MCGILLECON 295Paul DickinsonWinter

ECON 295 Chapter Notes - Chapter 25: Ceteris Paribus

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5 Dec 2017
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Chapter 25: the difference between short-run and long-run macroeconomics. Since returns come in the future, incentive for investors & Savers is real in
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MCGILLECON 295Paul DickinsonWinter

ECON 295 Chapter Notes - Chapter 27: Interbank, Precious Metal, Chapter 27

OC23369186 Page
5 Dec 2017
0
What are its functions: function 1: money is a medium of exchange. Must be generally acceptable to perform this function. Barter is very inefficient du
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MCGILLECON 295Mayssun El- Attar VilaltaWinter

ECON 295 Chapter Notes - Chapter 27: Fiat Money, Bank Reserves, Commercial Bank

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17 Apr 2017
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Macroeconomics policy chapter 27 (chapter 26 in the book) It"s a medium of exchange (anything that is generally accepted in return for goods and servic
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MCGILLECON 295Paul DickinsonWinter

ECON 295 Chapter Notes - Chapter 20: Black Market, Factor Cost, Gdp Deflator

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5 Dec 2017
0
Each firm"s contribution to total output is its value added: Gdp is the value of final goods & services produced in the domestic economy. + additions t
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MCGILLECON 295Paul DickinsonWinter

ECON 295 Chapter Notes - Chapter 21: Pessimism, Retained Earnings, Ceteris Paribus

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5 Dec 2017
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National income accounts measure actual expenditures in each of the 4 expenditures categories. Our model of the macro-economy also deals w/ desired exp
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MCGILLECON 295Paul DickinsonWinter

ECON 295 Chapter Notes - Chapter 22: Ceteris Paribus, United States Treasury Security, Consumption Function

OC23369187 Page
5 Dec 2017
0
Chapter 22: adding government and trade to the simple macro model. How presence of gvmt affects simple model: (1) all lvls of gvmt add directly to desi
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MCGILLECON 295Mayssun El- Attar VilaltaWinter

ECON 295 Chapter Notes - Chapter 22: Fiscal Policy, Macroeconomic Model, Price Level

OC15909472 Page
17 Apr 2017
0
Macroeconomics policy chapter 22: adding government and trade to the simple macro model. Fiscal policy includes taxation, transfers , and government pu
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MCGILLECON 295Paul DickinsonWinter

ECON 295 Chapter Notes - Chapter 29: Disinflation, Monetarism, Money Supply

OC23369185 Page
5 Dec 2017
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29. 1 how the bank of canada implements monetary policy. Money supply vs. the interest rate: for any given money demand curve, any central bank must ch
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MCGILLECON 295Paul DickinsonWinter

ECON 295 Chapter Notes - Chapter 24: Vrije Universiteit Amsterdam, Macroeconomic Model, Nominal Rigidity

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5 Dec 2017
0
Chapter 24: from the short run to the long run: the adjustment of factor prices. Factor prices are assumed to be constant. Technology & factor supplies
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