Introduction to Macroeconomics – Some key terms

Economics: The Study of how society deals with scarcity. Here is a brief article on the introductory components of any economy with a macroeconomic slant. In the economy we expect to find these four components: resource endowment, technology, preference, institutions....

National Income Accounting in an Open Economy

This article continues on from a previous entry in our macroeconomic blog category called Balance of Payments explained. This article provides an example of the national income accounting scheme in action within an open economy. Comments are always welcome. Remember...

National Income Accounting Explained

Including Intro to Balance of Payments Here is a brief tutorial to aid newbie economists understand the constructs behind national income accounting and balance of payments (the two are related). To do so we’ll introduce the two measures of national income which...

Federal Reserve Increases Overnight Rate to .5%

The federal reserve today increased the overnight lending rate by a quarter percentage to 1/2 a percent. This is the first increase in nearly a decade dating back to 2006. Increasing the benchmark rate is an indicator that the American economy is starting to not only...

Alberta to Bump Minimum Wage Starting in October

Business’ may cry foul, but Alberta, despite being one of the wealthiest provinces in the country, when the oil price is high, has the lowest minimum wage in Canada. The affects on the economy will be negative, say small business owners and service related...