Skip to main content
Skip to McMaster Navigation Skip to Site Navigation Skip to main content
McMaster logo
COVID-19 information and updates

Find the most recent updates here, as well as FAQs and information for students, faculty and staff.

Scarth William, Professor Emeritus

photo of William Scarth

William Scarth

Professor Emeritus

Emeritus Faculty
Department of Economics

Area(s) of Interest:



Economics at McMaster (Assistant Professor - 1971, Full Professor - 1982)

Adjunct Professor appointments - Queen's, Waterloo and Simon Fraser

Consultant - Finance Canada, Economic Council of Canada, and Statistics Canada

Senior Fellow in Economic Policy - Reserve Bank of Australia

Research Economist - CD Howe Institute

Distinguished Visitor - Alberta, Athens, Calgary, Canterbury (NZ)


BA - Honours - Economics - Queen's (Gold Medal) - 1968

MA - Economics - Essex (Commonwealth Scholarship) - 1970

PhD - Economics - Toronto (Canada Council Scholarship) - 1971



150 presentations



McMaster University President's Award for Instruction - 1997

McMaster Student Union Lifetime Achievement Award - 1999

McMaster Student Union Oustanding Teacher in Arts and Science Award - 2012, 2014


Courses Taught Recently

Econ 728

Arts & Science 2E03



Articles: 80 published papers in academic journals and policy reports -

in macroeconomics, labour economics, international trade and public finance.

Recent work concerns how globalization and the aging population challenge the ability of governments to foster both overall growth and increased equality


Books: 4 texts - ranging from Principles to Intermediate to Advanced - two single-authored, two co-authored (with Will Baumol/Alan Blinder - Princeton, and Greg Mankiw - Harvard).

There have been twenty-two editions of these four books.

3 edited monographs: Deficit Reduction: What Pain? What Gain?  and Equality and Prosperity: Finding Common Ground (with Bill Robson (CD Howe)); Inflation and Unemployment: The Evolution of the Phillips Curve (with Richard Lipsey)    

Recent Publications

Macroeconomics: The Development of Modern Methods for Policy Analysis, Edward Elgar Publishers, 2014 (Hardback: ISBN: 978 1 78195 387 7; Paperback: ISBN: 978 1 78195 388 4).

Macroeconomics: Fifth Canadian Edition (with Greg Mankiw), Worth Publishers, 2014. The Sixth Edition is forthcoming in 2019 (with Greg Mankiw and Jean-Paul Lam).

“Economic Policy” in Governing the United States and Canada:  How Two North American Democracies Differ, and Why It Matters, edited by Paul Quirk, Oxford University Press, Chapter 9 (with William Keech) forthcoming.

“Investing in Health: A Macroeconomic Exploration of Short-Run and Long-Run Trade-Offs,” Atlantic Economic Journal Volume 46, Issue 1: 121-133, March 2018 (with Junying Zhao and Jerry Hurley).

User Discretion Advised: Fiscal Consolidation and the Recovery, C.D. Howe Commentary No 412 (2014)

“Employment Insurance: A Macroeconomic Comparison with Other Income-Support Initiatives” in Making EI Work: Research from the Mowat Centre Employment Insurance Task Force, edited by Keith Banting, and Jon Medow (Queen's/McGill University Press) 2012, 213-230.

“Introduction: The History, Significance and Policy Context of the Phillips Curve,” the editors’ critical survey/introduction article in their edited set of books Inflation and Unemployment: The Evolution of the Phillips Curve (London: Edward Elgar) - 2011. This is a three-volume anthology of the most important papers on the Phillips curve appearing in the first 50 years following the publication of the most cited paper in macroeconomics in the 20th century, edited with Richard Lipsey.