Every day brings new reports and statistics on the economy, but most of us find it difficult to fit these indicators together to form a coherent picture. This book should help non-economists, whether journalists, managers, students, or investors, to do just that. Nine chapters explain in straightforward terms the role of households, businesses, governments, and foreign interests in the economy, and how their economic activities are measured. The author clearly describes the 'how' and 'why' of monetary and fiscal policies, and their interactions. One chapter explains how wages and employment are determined. The last two chapters look at the major Canadian and U.S. economic indicators, such as the consumer price index, housing starts, and employment data. What information do they contain? When are they released? What website can they be found at? How reliable are they? What is their significance? The author helps the reader weigh the information in the indicators in order to anticipate economic developments.
For the businessperson who needs to understand the economy's impact on the 'bottom line', for the student who wants to bridge the gap between theory and the 'real world', for the individual who wants to make better investment decisions, this handbook provides clear, concise guidance.
John Grant was, for over two decades, Chief Economist for a leading Canadian investment dealer, and is currently Adjunct Professor of Business Economics in the Joseph L. Rotman School of Management, University of Toronto.