Political And Economic Thought Analysis
Some basic training in economics is important because it could assist an individual to understand the nature of the world in which they live in. This is why the economics professor and her assistant Eveline Adomait and Richard Maranta have written the book Dinner Party Economics to explore the various political and socioeconomic thoughts that affect our daily lives (Eveline & Richard, 2013). The focus will be on Chapters 6 and 7 where the authors discuss about macroeconomic policy and the subsequent political debate.
The two authors in chapter eleven and twelve discuss the form and nature of macroeconomic policy and some of the associate political thought (Eveline & Richard, 2013). This includes the appetizer section whereby they outline the main macroeconomic concepts. Accordingly, the economy is divided into two, including the macroeconomic and microeconomic aspects. Accordingly, the former covers the larger economic perspective of the nation while the former entails the study of how firms and households manage limited resources to meet unending wants and needs (Eveline & Richard, 2013). The macroeconomic element of the economy forms the basis of this analysis, whereby the two authors offer an account of how the economy is shaped by various political debates and processes. It means that the relationship between politics and the economy is inevitable. While looking at the national economy, a …show more content…
This role is specifically played by the central bank of a county, whose mandates include the control of a country’s money supply, establishment of the foreign exchange rate, and the manufacture of new bank notes and coins (Perry, Serven, & Suescun, 2008). A look at Canada offers a special scenario, whereby the central bank is a corporation of the monarch. As such, all the bank’s shares are solely owned by the crown who is represented by the Finance