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Macroeconomics: Canada in the Global Environment, 11th edition

Published by Pearson Canada (January 25, 2021) © 2022

  • Michael Parkin Emeritus of University of Western Ontario
  • Robin Bade University of Western Ontario

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For 1-semester principles of macroeconomics courses.

An intuitive and grounded approach to economics

The economic way of thinking is a foundational skill for citizenship and career. Every feature of Parkin/Bade helps the student develop this skill, repeatedly using its central ideas of tradeoff; opportunity cost; the margin; incentives; the gains from voluntary exchange; the forces of demand, supply, and equilibrium; the pursuit of economic rent; and the tension between self-interest and the social interest.

Parkin/Bade is thoroughly updated, intuitive rather than technical, grounded in data and empirical evidence, extensively illustrated with well-chosen examples and photographs, enlivened with applications that focus on issues at play in today’s world, focused on learning-by-doing, and seamlessly integrated with MyLab Economics.

Hallmark features of this title

  • Learning Interactively - Learning by Doing. At the end of every chapter section, a Review Quiz invites the student to rework the section with questions that cover the key ideas. A parallel set of questions in MyLab Study Plan enable the student to work the questions and get instant targeted feedback. 
  • Learning the vocabulary isn't exciting, but it is the vital first step to every discipline and it needs to be effective and quick. Highlighted key terms simplify this task. 
  • Making Economics Real. The student needs to see economics as a lens that sharpens the focus on real-world issues and events, and not as a series of logical exercises with no real purpose. Economics in the News and At Issue are designed to achieve this goal. Each chapter opens with a photograph and a student-friendly vignette that raises a question to motivate and focus the chapter.

New and updated features of this title

  • As the world shifts to a greater reliance on digital media, it is appropriate that this text evolves as well. This eleventh edition is the first fully digital version of Economics: Canada in the Global Environment.. Instructors and students will find that, although the medium has changed, the content is fully consistent with prior editions.
  • COVID-19. The COVID-19 pandemic dominates the news and other applications in this edition. It provides a wide range of natural experiments that enable us to see markets in action in an extreme situation. The pandemic also provides compelling examples of externalities and public goods. The pandemic makes its first appearance in Chapter 1 as an example of a source of tension between self-interest and the social interest. 
  • News-Based Problems and Applications. Just a sample of the topics covered in the 17 new news-based problems and applications include:
    • A B.C. First Nation's LNG and thermal energy project expands production possibilities
    • Alberta's cut in the minimum wage
    • Canada's trade deal with the European Union
    • How streaming is changing entertainment
    • Amazon's decisions on the scale and location of fulfilment centres

Digital Assets in MyLab Economics

  • 2024 Digital Update – Econ in the News - MyLab Question Update (50 New Questions)
  • 2024 Digital Update – Micro/Macro Interactive Models with Assessment - 60 new TDX questions to accompany the new and updated models (3 per model)
  • Current Event boxes bring currency into your classroom with author-written content that connects key concepts with real-life current events. Annually, the authors add new or revised content or data to ensure your students have relevant examples to help them engage with the course.
  • Interactive figures bring concepts to life, helping students see the concepts through directed explorations and purposeful manipulation. These figures are assignable and encourage active learning, critical thinking, and conceptual understanding. These interactive graphs and figures can be found by learners within the eText and can be assigned by instructors through our MyLab Multimedia Library.
  • Dynamic Study Modules: Using a highly personalized, algorithmically driven process, Dynamic Study Modules continuously assess student performance and provide additional practice in the areas where they struggle the most. Each Dynamic Study Module, accessed by computer, smartphone, or tablet, promotes fast learning and long term retention.
  • Digital Interactives. Economic principles are not static ideas, and learning them shouldn't be either. Digital Interactives are dynamic and engaging assessment activities that promote critical thinking and application of key economic principles. Each Digital Interactive has 3–5 progressive levels and requires approximately 20 minutes to explore, apply, compare, and analyze each topic. Digital Interactives can be assigned and graded within MyLab Economics or used as a lecture tool to encourage engagement, classroom conversation, and group work.
  • Single Player Experiments. Experiments are an easy-to-use, fun, and engaging way to promote active learning and mastery of important economic concepts. Single-player experiments allow students to play against virtual players from anywhere at any time so long as they have an Internet connection. Pre- and post-experiment questions are available for assignment within the MyLab.
  • Economics in the News Updates. The Economics in the News boxes that appear at the end of every chapter of the Pearson eTextbook are special boxes that help to bring currency into your classroom. Annually we add new or revised content and/or data to ensure that your students have relevant examples to help them engage with the course.
  1. What Is Economics?
  2. The Economic Problem
  3. Demand and Supply
  4. Measuring GDP and Economic Growth
  5. Monitoring Jobs and Inflation
  6. Economic Growth
  7. Finance, Saving, and Investment
  8. Money, the Price Level, and Inflation
  9. The Exchange Rate and the Balance of Payments
  10. Aggregate Supply and Aggregate Demand
  11. Expenditure Multipliers
  12. The Business Cycle, Inflation, and Deflation
  13. Fiscal Policy
  14. Monetary Policy
  15. International Trade Policy

Michael Parkin is Professor Emeritus in the Department of Economics at the University of Western Ontario, Canada. Professor Parkin has held faculty appointments at Brown University, the University of Manchester, the University of Essex, and Bond University. He is a past president of the Canadian Economics Association and has served on the editorial boards of the American Economic Review and the Journal of Monetary Economics and as managing editor of the Canadian Journal of Economics.

Professor Parkin's research on macroeconomics, monetary economics, and international economics has resulted in over 160 publications in journals and edited volumes, including the American Economic Review, the Journal of Political Economy, the Review of Economic Studies, the Journal of Monetary Economics, and the Journal of Money, Credit and Banking. He became most visible to the public with his work on inflation that discredited the use of wage and price controls. Professor Parkin also spearheaded the movement toward European monetary union. Professor Parkin is an experienced and dedicated teacher of introductory economics.

Robin Bade earned degrees in mathematics and economics at the University of Queensland and her Ph.D. at the Australian National University. She has held faculty appointments at the University of Edinburgh in Scotland, at Bond University in Australia, and at the Universities of Manitoba, Toronto, and Western Ontario in Canada. Her research on international capital flows appears in the International Economic Review and the Economic Record. 

Professor Parkin and Dr. Bade are the joint authors of Foundations of Economics (Addison Wesley), Modern Macroeconomics (Pearson Education Canada), an intermediate text, and have collaborated on many research and textbook writing projects. They are both experienced and dedicated teachers of introductory economics.

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