Compiler Press'

Elemental Economics

Not Accounting, Not Business, Not Commerce, Not Mathematics  - Economics  






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Competitiveness of Nations

Cultural Econometrics

Cultural Economics

Elemental Economics

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Dr. Harry Hillman Chartrand, PhD

Cultural Economist & Publisher

Compiler Press


215 Lake Crescent

Saskatoon, Saskatchewan

Canada, S7H 3A1

Curriculum Vitae


Launched  1998






USASK Winter 2018-19

Instructor: Dr. Harry Hillman Chartrand, PhD

Class Time & Location:

Econ 114.04, Monday, Wednesday & Friday, 2:30-3:20 pm, Arts 143

Phone: n.a.



Office Hours: By Appointment


Mondays: 1:30-2:30pm Arts 105

Tuesdays: 10:00-11:00am Arts 153

Wednesdays: 5:30-6:30pm Arts 143

Thursdays: 10:00-11:00am Arts 807

Course Description: Understanding the National Economy including broad aggregates such as employment, fiscal policy (tax & spend), foreign trade, growth, monetary policy

  and technological change.

Required Text: principles of macro economics, Mankiw, Kneebone & McKenzie (MKM), 6th or 7th Canadian Edition, Nelson Education

Mankiw, Kneebone & McKenzie (MKM), 6th or 7th Canadian Edition, Nelson Education. Please note, the E-edition is available at:


Lecture Notes are cross-referenced to chapter, page and graphic in MKM (6th/7th)


All Emails MUST include: Student Name & #, Course & Section #. 

Students are expected to review the Text and Lecture Notes before each Class to be prepared to raise questions.

Course News 


The Standard Model of the National Economy

1.0 Introduction

Ch. 1: Ten Principles of Economics

Ch. 2: Thinking like an Economist

2.0 National Accounts

Ch. 4: The Market Forces of Supply and Demand

Ch. 5: Measuring a Nation’s Income

Ch. 6: Measuring the Cost of Living

1st Midterm Test

Learning Outcome

What is National Income Accounting?

Econ 114.04 Jan. 28


3.0 Aggregate Demand/4.0 Aggregate Supply & Equilibrium

Lecture Notes 3.2: Aggregate Expenditure

Ch. 14: Aggregate Demand & Supply

5.0 Fiscal & Monetary Policy

Ch. 10: The Monetary System

Ch. 15: The Influence of Monetary and Fiscal Policy on Aggregate Demand

2nd Midterm Test

Learning Outcome

How is fiscal and monetary policy used to manage the National Economy?

 Econ 114.04 March 6


6.0 The Global Economy

Ch. 3: Interdependence and the Gains from Trade

Lecture Notes: 5.1.3: Trade Restrictions

Ch. 12: Open Economy Macroeconomics: Basic Concepts

3rd Midterm

Learning Outcome

How can Government manage the National Economy within an evolving Global Economy?

 Econ 114.04 Mar. 29


Final Examination

Learning Outcome

What is the Standard Model of the National Economy?




3 Online Assignments: 15%

3 Midterms: 45%

1 Final Exam: 40%

Online Tests, Midterms & Final Examination

For midterms and the final exam op scan sheets are used.  Read the instructions carefully.  Each Student must use a lead pencil 'to fill in the dots' and code their Student NSID correctly.  Each Student is responsible for the legibility of their op scan sheet.  Fresh sheets will be issued any time during an exam.  No additional time will be allowed to copy a sheet or make corrections after the testing period.  Failure to correctly code a Student's NSID will result in delay of results and possible demerit.  Scheduling will be announced in class.

The weight of a missed midterm (A -15%; B - 10%) may be transferred to the Final Examination on condition documentation is provided for acceptable cause such as sickness, family emergency, jury duty, etc.

Three Online Tests (OTs) will be posted on Blackboard: (1) Introduction &; National Income Accounting; (2) Aggregate Demand & Supply; Money and Fiscal & Monetary Policy; and, (3) The Global Economy.  They are 45 minutes long consisting of 30 multiple choice questions.  They can be done anywhere with Internet connexion.

Ensure, however, that you set aside sufficient time for the Test.  There is no pause.  Once started they must be completed.  Students will have five attempts for each Test with the highest mark counting towards the Final Grade.  The five attempts are intended to negate any technical disruptions.  Please, do not wait until the last minute!  Scheduling will be announced in class.

The three hour (180 minute) Final Examination will include 100 multiple choice questions comprehensive of the entire Course.

Approximately 75% of testable material is taken from MKM and posted Lecture Notes; 25% will be identified in class.


Grade Scheme

Please see:

USASK Policy on Academic Dishonesty

Please take note that plagiarism and other forms of academic dishonesty is subject to severe penalty at the University of Saskatchewan.  “Student Academic Dishonesty Rules of the University of Saskatchewan Council" (September 2000) are posted at