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Description: How markets and governments determine which products are produced and how income is distributed in the Canadian economy. Not open to students with credit in ECON 204.
Description: Employment, inflation, international payments, monetary policy, and fiscal policy, all in the Canadian economy. Prerequisite: ECON 101 or consent of Department. Not open to students with credit in ECON 204.
Description: The course will introduce students to basic writing in the economics discipline. The focus is on developing the ability to write clearly on economic concepts, as well as illustrating results of data analysis. ECON 109 is a prerequisite for all ECON courses at the 300- and 400-level. ECON 109 will be waived as a prerequisite upon completion of the Assessment of Reading, Comprehension, and Writing in Economics. Students who have successfully completed the Assessment of Reading, Comprehension, and Writing in Economics will not be permitted to enroll/receive credit in ECON 109. Students can contact the Department of Economics for more information about the Assessment. Prerequisite: ECON 101.
Description: Formal instruction in the basic principles of writing, including a review of basic grammar. The focus is on hands-on practice in order to develop clear writing skills. Examples and exercises will be drawn from economics. Students will also make oral presentations. Prerequisite or corequisite: ECON 101. Restricted to BA Economics or BA Honors Economics students in the Faculty of Arts. ECON 110 can be substituted for *3 of the *6 Junior ENGL/WRS requirement for students with an Economics major in the BA or BA Honors in the Faculty of Arts.
Description: Content varies from year to year. Topics announced prior to registration period. Prerequisite: ECON 101. Additional prerequisites may be required; consult the Department for further information.
Description: An introduction to economic principles as applied to business organization and finance; price determination; enterprise costs and output optimization; commercial and central banking; national income analysis. For students enrolled in the Faculty of Engineering only. Not open to students with credit in ECON 101 and/or 102.
Description: A survey of the characteristics of and recent developments in the Chinese economy emphasizing the nature and consequences of China's economic reforms and Canada's economic relations with China. Prerequisite: ECON 101 or equivalent.
Description: A survey of the major approaches to and problems of economic development in the less developed countries with particular emphasis on issues relating to savings and investment, income distribution, employment and population growth, and trade and aid. Prerequisite: ECON 101 and 102 or equivalent.
Description: Differences in technology and institutions are used to explain why some countries are richer than others; why economic growth rates differ across time and jurisdictions; and causes of convergence/divergence in cross-country growth rates. Prerequisite: ECON 101 or equivalent.
Description: The development of economic thought in social and political context. Major schools of thought from Greek philosophers up to the Marxist, Classical, and Neoclassical doctrines. Prerequisites: ECON 101 and ECON 102 or consent of Department.
Description: Economic growth and the deterioration of the environment; types, causes, theory, policy, and measurement, and current Canadian environmental topics. Prerequisite: ECON 101 or equivalent. Not open to students with credit in ECON 369, INT D 369, or INT D 225 offered as Economics and the Environment.
Description: The theory of consumer behavior; theory of production and cost; price and output determination under competition, monopoly and other market structures. Prerequisite: ECON 101 or equivalent.
Description: Models of price, interest rate, output, and employment determination; the impact of fiscal, monetary, and supply shocks; open economy macroeconomics with fixed and flexible exchange rates, and prices as well as international capital mobility. Prerequisite: ECON 101 and 102 or consent of Department.
Description: Introduction to the use of statistical methods in economics with computer applications. Prerequisites: ECON 101 and 102, STAT 151 or equivalent, and MATH 154 or equivalent. Note: Designed for students taking Economics as a major subject of concentration. Department permission must be obtained by other students wishing to take this course. ECON 299 or equivalent must be taken before ECON 399. Not open to students with credit in STAT 265 and 266.
Description: Content varies from year to year. Topics announced prior to registration period. Prerequisite: ECON 101. Additional prerequisites may be required; consult the department for further information.
Description: A survey of the principles of international economics and the applications to economic policy. Topics include international trade in goods and financial assets, trade policy and exchange rate determination. Note: Not open to students with credit in or enrolled in ECON 421 or 422. Prerequisite: ECON 281 or consent of Department.
Description: Theory and empirical evidence concerning the supply of and demand for labor services, wage differentials, and the impact of unions, with particular reference to Canadian contemporary issues. Some of the policy issues to be discussed are income maintenance, unemployment insurance, and minimum wage legislation. Prerequisite: ECON 281 or consent of Department.
Description: Financial intermediation, commercial banking, central banking, securities markets, and regulation of the banking and financial sectors, the money supply process and monetary control. Prerequisite: ECON 282 or consent of Department. Students may not receive credit for both ECON 341 and FIN 414.
Description: Analysis of public sector expenditures in Canada. The rationale for government spending and the problems in the provision of public services. Prerequisite: ECON 281 or equivalent.
Description: Analysis of the Canadian tax structure and its role in attaining certain goals of society; requirements for an optimal tax structure. Prerequisite or corequisite: ECON 281 or consent of Department.
Description: The use of cost-benefit analysis and other economic methods in evaluating public investment projects with examples from transportation, river basin management, electrical generation, oil and gas, and pollution control. Prerequisite: ECON 101 or 204 or equivalent.
Description: Resource allocation and public policy in health care, including determinants of health status, market structures, incentives and the effects of imperfect information. Prerequisite: ECON 281 or equivalent, or consent of Department.
Description: Introduction to experimental methods in economics, with focus on laboratory studies of economic behaviour. Prerequisites: ECON 281 and 299, or consent of the Department.
Description: Travel demand and choice of means of transport; cost concepts including economies of network size and traffic density; efficient pricing of transport services and infrastructure; congestion and road pricing; advanced traveller information technologies; airline regulation, deregulation and competition. Prerequisite: ECON 281. Not open to students with credit in ECON 461.
Description: Issues in the production of exhaustible and renewable natural resources, including exploration, extraction, and taxation; scarcity and pricing; contemporary Canadian resource policy issues. Prerequisite: ECON 281 or consent of Department. Students may not receive credit for both ECON 365 and AREC 365.
Description: The economics of producing and consuming energy: pricing, role in economic growth; energy sources and markets; the role of government; regulation and other energy policy issues. Prerequisite: ECON 281 or consent of Department.
Description: A survey of the behavior and performance of firms in different market structures and discussion of public policy toward the different structures. Note: Not open to students with credit in ECON 471 or 472. Prerequisite: ECON 281 or equivalent.
Description: Economic implications of common law: property, contract, and tort; economic logic underlying different doctrines within the law, and illustrations of the law as an economic institution; externality, risk and deterrence, and other leading issues. Prerequisite: ECON 281 or consent of Department.
Description: Issues in criminal and family law. Economic analysis of crime deterrence and incentives for plea-bargaining. Rationale for child-support payment guidelines and economic incentives for private divorce agreements. Criminal provisions of the Competition Act and interface with intellectual property laws. Prerequisite: ECON 281 or consent of Department.
Description: Designed for majors and Honors students in Economics. Extensions and applications of microeconomic theory: intertemporal choice, risk, uncertainty and expected utility; oligopoly and game theory; externalities, public goods, adverse selection, moral hazard, and asymmetric information; general equilibrium. Prerequisites: ECON 281 and 299 or equivalent, and MATH 156 or equivalent.
Description: Designed for majors and Honors students in Economics. Theories of stabilization policy; expectations; the government budget constraint; inflation and unemployment; business cycles and growth; theories of aggregate consumption, investment, money demand, and money supply. Prerequisites: ECON 281, 282 and 299 or equivalent, and MATH 156 or equivalent.
Description: Elements of logic and set theory, linear algebra, differential calculus and their conjunction, as used in classical and modern economic analysis. Prerequisites: ECON 281, 282, and 299 or equivalent; MATH 125 or equivalent, and MATH 156 or equivalent.
Description: Difference and differential equations, linear inequalities, convexity, programming; assorted theorems of special use in modern economic analysis. Prerequisite: ECON 386.
Description: An elementary treatment of the major topics in econometrics with emphasis on applied regression methods. Prerequisites: ECON 281, 282 and 299 or equivalent, and MATH 156 or equivalent. Note: Not open to students with credit in AREC 313.
Description: Required for fourth-year honors students choosing the honors essay route. Prerequisite: consent of Department. Only open to students registered in the Economics Honors Essay Route. Credit will not be granted for both ECON 497 and ECON 400.
Description: Content varies from year to year. Topics announced prior to registration period. Prerequisite: ECON 281. Additional prerequisites may be required.
Description: Analyzes the role of particular markets and institutions in selected Pacific Rim economies. Special emphasis is given to either China or Japan; students should consult the Department of Economics to find which country is being emphasized in a given year. Prerequisites: ECON 281 or equivalent.
Description: The application of economic theory and research methodology to selected topics in European economic development. Prerequisite: ECON 281.
Description: An introduction to models of growth and development; the role of agriculture, industry, finance, and trade in structural transformation of developing countries; approaches to development planning. Prerequisite: ECON 281 or consent of Department.
Description: Prerequisites: ECON 281 or consent of Department.
Description: Nature and relevance of international trade; early trade doctrines; the theory of comparative advantage, classical and modern approaches and empirical evidence for them; new approaches to the pure theory of international trade; economic growth and international trade; market imperfections and trade; commercial policy; economic integration and the gains from trade. Prerequisites: ECON 281 and MATH 154 or equivalent.
Description: Types of international transactions, macroeconomics in an open economy, exchange rates, balance of payments adjustments, and other issues in the international monetary system. Prerequisites: ECON 281, 282 and MATH 154 or equivalent.
Description: International trade and economic development from the perspective of India. Emphasis given to trade policy, poverty, inequality, productivity, and labor markets in India. Prerequisites: ECON 281 and 299 or consent of Department.
Description: Topics include demand for labor, supply of labor, wage differentials, trade union behavior, the minimum wage, education and income distribution, discrimination, mandatory retirement, and non-market work. Prerequisites: ECON 281 and MATH 154 or equivalent.
Description: The analysis of education from the perspective of quantitative and theoretical economics, with a focus on human capital development from preschool to university, the effect of education on the economy, and education policy. Prerequisites: ECON 384 and 399.
Description: Recent developments in monetary economics, including inflation tax and the optimum quantity of money; term structure of interest rates; money and economic activity; rules vs discretion in monetary policy; role of financial deregulation. Prerequisites: ECON 281, 282 and MATH 113 or SCI 100.
Description: The measurement of risk; portfolio analysis; hedging and speculation; market microstructure; asset pricing and market equilibrium. Prerequisites: ECON 281, STAT 151 or equivalent, and MATH 154 or equivalent. Students may not receive credit for both ECON 442 and FIN 412.
Description: Possibilities and limitations of efficiency and equity of markets and government intervention. Prerequisites: ECON 281, and MATH 154 or equivalent.
Description: Analysis of the effects of taxation on the economic decisions of households and firms as reflected in the allocation of resources in the economy and the distribution of the tax burden. Measurement of the efficiency and incidence of the tax system. Prerequisites: ECON 299, 384 and MATH 113 or SCI 100 or consent of Department.
Description: Urban spatial structure, residential land use, firm location decisions, housing, transportation, and urban public finance. Prerequisites: ECON 281, and MATH 154 or equivalent.
Description: Environmental and natural resource law; domestic and global policy issues related to renewable and non-renewable resources. Prerequisites: ECON 281, and MATH 154 or equivalent, and one of ECON 269, ECON 365, ECON 366, or AREC 365. Not open to students with credit in ECON 466 or ENCS 473.
Description: Oligopoly theory, cartel formation, product differentiation and advertising, entry into markets and strategic entry deterrence, and research and development. Prerequisites: ECON 384 or consent of Department.
Description: Market definition and measurement of market power. Canadian competition policy, including merger, predation, abuse of dominance, price discrimination, tie-in sales, exclusive dealing, resale price maintenance, collusion and bid rigging. Prerequisites: ECON 384 or consent of Department.
Description: An economic analysis of professional sport leagues, franchises and labor markets. Topics will include the economic structure of leagues, franchise value, profit maximization versus winning, pay and performance, free versus restricted agency, and discrimination. Prerequisite: ECON 281.
Description: Consumer and producer theory, and selected topics. Prerequisites: ECON 384 and 386 or consent of Department.
Description: Business cycle theory, microfoundations of macro models, government budget constraints, expectations formation, the open economy, and representative agent optimizing models. Prerequisites: ECON 385 and 386.
Description: Analysis of structure and equilibrium of games. Applications to economic problems such as bargaining, auctions and collusion. Prerequisites: ECON 384 and 299.
Description: Analysis of the objectives, instruments and methods of macroeconomics policy using contemporary macroeconomics theory and examples from the policy experience of Canada and other nations. Prerequisites: ECON 385 or consent of Department.
Description: Statistical methods for modeling and forecasting trends, seasonal, and cyclical components; ARMA models; regression models; forecast evaluation; and forecasting in the presence of unit roots. Prerequisites: ECON 399 or consent of Department.
Description: Econometric problems and techniques with emphasis on regression methods and hypothesis testing. Single equation techniques and introduction to simultaneous equation systems. Matrix algebra is used extensively. Prerequisites: ECON 386, 387 and 399 or equivalent. Prerequisite or Corequisite: ECON 481 and 482 or consent of the Department. Not open to students with credit for ECON 408. Credit will not be granted for both ECON 497 and 400.
Description: Producer and consumer behavior; partial equilibrium models of perfectly and imperfectly competitive markets; Walrasian general equilibrium; welfare economics. Prerequisites: ECON 386 and 387, 481 and 482.
Description: Choice under uncertainty; contingent claims and models of general equilibrium under uncertainty; markets with information asymmetries; non-cooperative game theory, games of incomplete information, repeated games, and bargaining theory. Prerequisite: ECON 503.
Description: Topics may include ARIMA modelling, spectral analysis, state-space models and the Kalman filter, nonstationary analysis, vector autoregressions, conditional heteroskedasticity and nonlinear models. Prerequisites: ECON 407 and 408 or equivalent.
Description: The techniques of development planning; qualitative and quantitative problems associated with the drafting and implementation of plans and programs; assessment of internal and external resources available for development and problems of measurement and mobilization of resources.
Description: Economic policy alternatives in a context of growth and development; problems of inflation, balance of payments, disequilibrium, concentration of growth effects; the role of international aid and other external measures.
Description: Prerequisites: ECON 481 and 482, ECON 421 and 422 recommended.
Description: Factors influencing the supply of, and demand for, labor services and the process of relative wage determination in the long and short run. Determination of money wage levels, aggregate labor-force participation, and the level and structure of aggregate employment and unemployment.
Description: Prerequisites: ECON 481 and 482.
Description: The course surveys Asset Pricing Theory with an emphasis on the utility-based discount-factor approach. The discount factor provides a unifying framework for the evaluation of most classes of assets including stocks, bonds, and derivatives. In particular, the course reviews mean- variance analysis, factor pricing, discrete time models, and classical results in continuous time, such as the Black and Scholes option Pricing Formula. These theoretical models are also illustrated by empirical applications.
Description: The theory of the role of the public sector in a market economy; market failures, income redistribution, public choice, and fiscal federalism.
Description: Effects of taxes on allocation, distribution and stabilization objectives. Evaluation of major taxes with particular attention paid to efficiency and incidence considerations.
Description: Theoretical and applied issues in the determination of health models and a survey of contemporary health economic policy issues.
Description: Transportation demand and modal choice; economies of scale, traffic density, and scope; congestion pricing of highways and transport infrastructure; new traveller information technologies; airline competition, regulation and deregulation.
Description: Economic theory and policy relating to environmental problems; welfare and public policy issues in environmental decision making. Environmental law; transboundary pollution; economic instruments for pollution control.
Description: Theoretical, empirical, and policy studies in the following areas: supply and pricing under various market structures, the demand for exhaustible resources, exploration, resource extraction under price and technological uncertainty, taxation of exhaustible resources, exhaustible resources and the macro economy. Not open to students with credit in ECON 565.
Description: Game theory; oligopoly theory; dynamic price competition; cartel formation; product differentiation; and advertising; entry and strategic entry deterrence; research and development.
Description: Market definition and measurement of market power. Principles of competition policy, including merger, predation, abuse of dominance, price discrimination, vertical market restrictions, collusion and bid rigging.
Description: Economic foundations of regulation. This course covers problems of natural monopoly, incentive regulation, deregulation, environmental regulation, insurance and financial regulation, universal service obligation, network access pricing, and product quality regulation.
Description: An examination of the core topics in macroeconomic theory. These will generally include methods of modelling output, employment, prices, business cycles, and macroeconomic policy. Prerequisite or corequisite: ECON 481 and 482 or equivalent.
Description: This course extends the analysis of ECON 581 and introduces students to more advanced issues. Prerequisite: ECON 581 or equivalent.
Description: The course will aid students in identifying and developing a research topic, and develop skills in the writing and presentation of research. Students will be expected to present, write critiques of, and participate in discussions of published articles or working papers.
Description: Completion of a research paper in one of the two fields chosen in the course work of year two. It is expected that students will use this paper to form the basis of their Candidacy Examination. Students are required to present their ongoing research to their peers and to members of the Department during this term. Students are required to attend the Department's internal workshop series. Students must make their research papers available to the Department one week prior to the scheduled presentation.
Description: Advanced treatment of estimation, inference and econometric problems and techniques, including the use of matrix operations and statistical distribution theory, with an emphasis on applied econometric analysis. Prerequisites: ECON 481 and 482 or equivalent, and an advanced undergraduate level course in econometrics. Note: Not open to students with credit in ECON 506.
Description: The role of economic theory in the process of specification and estimation of models. Interpretation and critical evaluation of applied work by means of selected topics in economics and econometrics. Prerequisite: ECON 598 or equivalent.
Description: Topics available include local public finance, project evaluation, theory of public choice, public enterprise pricing policies, health care economics, and fiscal systems.
Description: Prerequisites: ECON 503, 581, 598, and 599.