INSTRUCTOR’S MANUAL
to accompany
ECONOMICS Canada in the Global Environment Ninth Edition Michael Parkin University of Western Ontario
Robin Bade
Toronto Copyright © 2016 Pearson Canada Inc. All rights reserved. This work is protected by Canadian copyright laws and is provided solely for the use of instructors in teaching their courses and assessing student learning. Dissemination or sale of any part of this work (including on the Internet) will destroy the integrity of the work and is not permitted. The copyright holder grants permission to instructors who have adopted Economics: Canada in the Global Environment, Ninth Edition, by Michael Parkin and Robin Bade, to post this material online only if the use of the website is restricted by access codes to students in the instructor’s class that is using the textbook and provided the reproduced material bears this copyright notice.
Preface Flexibility Part 1 Chapter 1 Chapter 2 Part 2 Chapter 3 Chapter 4 Chapter 5 Chapter 6 Chapter 7 Part 3 Chapter 8 Chapter 9 Part 4 Chapter 10 Chapter 11 Chapter 12 Chapter 13 Chapter 14 Chapter 15 Part 5 Chapter 16 Chapter 17 Part 6 Chapter 18 Chapter 19
How to Assemble Your Course Introduction What Is Economics? The Economic Problem How Markets Work Demand and Supply Elasticity Efficiency and Equity Markets in Action Global Markets in Action Households’ Choices Utility and Demand Possibilities, Preferences, and Choices Firms and Markets Organizing Production Output and Costs Perfect Competition Monopoly Monopolistic Competition Oligopoly Market Failure and Government Externalities Public Goods and Common Resources Factor Markets and Inequality Markets for Factors of Production Economic Inequality
PREFACE
Part 7 Chapter 20 Chapter 21 Part 8 Chapter 22 Chapter 23 Chapter 24 Chapter 25 Part 9 Chapter 26 Chapter 27 Chapter 28 Part 10 Chapter 29 Chapter 30 Chapter 31
Monitoring Macroeconomic Performance Measuring GDP and Economic Growth Monitoring Jobs and Inflation Macroeconomic Trends Economic Growth Finance, Saving, and Investment Money, the Price Level, and Inflation The Exchange Rate and the Balance of Payments Macroeconomic Fluctuations Aggregate Supply and Aggregate Demand Expenditure Multipliers The Business Cycle, Inflation, and Deflation Macroeconomic Policy Fiscal Policy Monetary Policy International Trade Policy (Macro split only)
Copyright © 2016 Pearson Canada Inc.
PREFACE
3
Preface
Introduction At no time in history has teaching the principles of economics been either more challenging or more important. Your decision to adopt the ninth edition of our textbook brings to your task a set of teaching and learning tools that are unmatched in their clarity, relevance, and currency. It is our hope that with the help of these tools, you will enable your students to become as excited about economics as you are. Whether you’re teaching the principles course for the first time or are an experienced teacher at this level, we hope you will find this manual helpful. Each chapter in the manual consists of four parts: 1. The Big Picture: This part provides a discussion of “Where we are going” and “Where we have been.” In other words it helps you fit this particular chapter into the context of what has come before and what will come later. This Big Picture information can help you provide the Big Picture to your students. 2. Changes: Both the major and the minor changes in this ninth edition of the textbook are described in this section. The changes noted are especially those that might affect your lecture, so if you are an experienced Parkin user, glance at these to see what’s different in this edition of the textbook. 3. Lecture Notes: We have created a set of ready-to-use lecture notes for each chapter. You will be able to glance over these notes before class, take them into class, and deliver from them your polished lecture. These notes have been heavily revised from the last edition and now incorporate the previous edition’s Teaching Suggestions directly into them. These notes provide: • Concise (bullet point) statements of all the key material • Tables and figures that differ from those in the book so that you can use new examples in your lectures • Key terms in bold print and the definitions from the textbook so that you can be sure that you don’t confuse your students by defining a term differently than the book • Highlighted boxes with teaching suggestions that reinforce a key concept, provide an additional anecdote, or suggest how to handle a difficult idea. 4. Additional Discussion Questions: Additional discussion questions have been created for each chapter. Some of these questions are suitable for essay exams; others, more open-ended, are probably best used for classroom discussion. All of them are designed to make your students think and use the material you have been teaching them.
The Solutions Manual The answers and solutions to the Review Quizzes and the Problems and Applications at the end of each chapter are available in the Solutions Manual. The Solutions Manual has both the questions from the textbook and complete answers all in one handy source. You can use these answers and solutions to help you grade exercises you have assigned to the students or else you can copy them and hand them out directly to the students.
Copyright © 2016 Pearson Canada