Compiler Press'

Elemental Economics

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






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Compiler Press

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Competitiveness of Nations

Cultural Econometrics

Cultural Economics

Elemental Economics

World Cultural Intelligence Network


Dr. Harry Hillman Chartrand, PhD

Cultural Economist & Publisher

Compiler Press


215 Lake Crescent

Saskatoon, Saskatchewan

Canada, S7H 3A1

Curriculum Vitae


Launched  1998






USASK Winter 2022

Classes: Jan. 10 - Apr. 8, 2022

Instructor: Dr. Harry Hillman Chartrand, PhD

Class Time & Location: Provisional COVVID Restriction

Jan. 10-24: Online Recorded Panopto Lectures - Canvas

Jan 25- Apr. 8: In-Person  M/W/F,  2:30-3:20 pm, Arts 143

Phone: n.a.



Office Hours: na

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, 7th or 8th Canadian Edition, Nelson Education

E-edition, hardcopy & 2nd hand copies available at the USASK Bookstore.  Mindtap and other add ons are not required nor subject to grading.

Lecture Notes are cross-referenced to chapter, page and graphic in MKM (6th/7th/8th)


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

Course News 


The Standard Model of National Economics

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, Feb. 9, 2022


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

Lecture Notes:  5.2 Monetary Policy

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 23, 2022


6.0 The Global Economy

Ch. 3: Interdependence and the Gains from Trade

Lecture Notes: 6.1.3: 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, April 6, 2022


Final Examination

Learning Outcome

What is the Standard Model of National Economics?




6 Practice Quizzes 0%

6 Online Assignments: 15%

3 Midterms: 45%

1 Final Exam: 40%

Practice Quizzes (PQs)

Six online Practice Quizzes (PQs) are poated on Canvas: Introduction, National Accounts; Aggregate Expenditure & Demand; Aggregate Supply & Equilibrium; Fiscal & Monetary Policy; and, Global Economy.  PQs provide answers but without credit towards your Final Grade.  PQs are 45 minutes with 30 multiple choice questions.   Additional practice tests are available at:

Online Assignments (OAs)

Six Online Assignments (OAs) are posted on Canvas:

(1) Introduction & (2) National Accounts must be completed by Midterm 1;

(3) Aggregate Expenditure & Demand, (4) Aggregate Supply & Equilibrium and (5) Monetary & Fiscal Policy must be completed by Midterm 2; and,

(6) Global Economy must be completed by Midterm 3. 

They are 45 minutes with 30 multiple choice questions.  Ensure you set aside sufficient time.  There is no pause.  Once started they must be completed.  You will have five attempts with only 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!  After each midterm OAs turn into review mode providing answers to prepare for the Final Examination.  You will be penalized for exceeding the time limit - 1 mark for each overtime minute.  Make sure to save and submit when finished.  Failure to do so may leave the system 'in process' and I may be unable to grade your exam.

Midterms (MTs)

For midterms and the final exam op scan sheets are used.  MTs will be conducted in class beginning at 2:30 on each designated day.

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 opscan 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. 

Each Midterm consist of 30 multiple choice questions answered in 45 minutes, i.e., identical in format to PQs and OAs.  Each Midterm is 'stand alone'.  Material from previous Midterms will not be asked in a subsequent Midterm.   There are no deferred midterms.  The weight of a missed midterm may be transferred to the Final Examination on condition documentation is provided for acceptable cause such as sickness, family emergency, jury duty, etc.  Students engaged in university or professional events including sports also qualify, with documentation, for a transfer of a missed midterm’s mark to the Final Examination.  To repeat, there are no deferred midterms.

Students who have booked vacation trips before the start of classes and that conflict with the midterm exam schedule must contact me during the first week of classes to qualify for a transfer of midterm grades to the final exam. 

Final Examination (FE)

The FE is comprehensive of all course material.  The location of the FE is to be determined.  There will be 100 multiple choice questions to be answered within 180 minutes or 3 hours. 


Technical Difficulties

Given the virtual nature of the course one must account for possible technical difficulties.  In general, you are responsible for your tech.  I am not a technician.  Accordingly, in the case of not for credit activities like accessing PAWS, viewing podcasts or reading Lecture Notes, it is on you and ICT at USASK -  They are there to help you.


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