Macroeconomics: Theory and Economic Reality

Author(s):Pascal Bédard

ISBN:9782897999384

Copyright:2026

Number of pages:350

Language:English

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This textbook is built around three fundamental objectives: to help students understand economics through concrete real-world applications, master the core foundations of macroeconomic analysis, and develop the way of thinking that characterizes economists.

Rather than emphasizing the memorization of models, the book focuses on understanding the economic mechanisms that shape real-world outcomes. Without attempting to cover every theoretical debate or technical nuance, it highlights the fundamental ideas of macroeconomics and presents economic models as analytical tools for interpreting how the economy works. Recent developments in macroeconomic thought are incorporated whenever they help explain contemporary economic realities, while more traditional models are retained whenever they continue to serve an important pedagogical purpose.

Beyond the acquisition of knowledge, the book seeks to cultivate an economist’s mindset by consistently connecting theoretical models to the economic phenomena they are designed to explain.

The objective of this textbook is therefore to provide readers with the foundations needed to understand today’s major macroeconomic issues. Beyond the classroom, it is intended for anyone wishing to gain a deeper understanding of how the economy functions, develop an informed perspective on major economic challenges, and strengthen their analytical and decision-making skills.

Pascal Bédard

Pascal Bédard

After earning a bachelor’s degree in mathematics, Pascal Bédard spent several years working as a programmer-analyst and business analyst in the private sector. Through extensive reading, he developed a deep passion for understanding economic phenomena, eventually pursuing graduate studies in economics and dedicating his career to the field.The recipient of numerous academic awards and scholarships, as well as an award for teaching excellence, he has taught undergraduate and graduate courses for the past twenty years to a wide range of audiences. His teaching areas include macroeconomics, microeconomics, monetary and financial macroeconomics, money and financial institutions, international finance, and public policy analysis. He is a permanent faculty lecturer in the Department of Applied Economics at HEC Montréal.   Après un baccalauréat en mathématiques, Pascal Bédard travaille plusieurs années comme programmeur-analyste et analyste d’affaires dans le secteur privé. Au fil de ses lectures, il développe une profonde passion pour la compréhension des phénomènes économiques et finit par se consacrer à ce domaine après des études en économie.

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