SSH 301 Lecture Notes - Lecture 2: Fiscal Policy, Monetary Policy, Money Supply

• School: Ryerson University
• Department: Social Sciences and Humanities
• Course: SSH 301
• Professor: Patrizia Albanese

Document Summary

Macroeconomics versus microeconomics: same scene, different takes: macroeconomics country"s overall economy, microeconomics consumers, families, and businesses. Economics: navigating a crisis: u. s. 2008 economic crisis: U. s. economy had a tremendous impact on canadian economy. U. s. unemployment went up, housing prices went down, and banks were near collapse; consumers bought less, and canada exported less to u. s. Managing the economy through fiscal and monetary policy: the goal is controlled, sustained growth through both fiscal and monetary policy. If you had started spending a million dollars every day, without fail at the start of the. Roman empire, you still wouldn"t have spent a trillion dollars by 2010. One trillion dollars laid end-to-end would stretch farther than the distance from the earth to the sun. The bank of canada: manages canada"s monetary policy, provides banking services for other banks and the government, coordinates the cheque-clearing process, maintains the federal government"s chequing account, keeps the currency supply in good condition.