IX. Graduate Programs

Economics

Courses

Economic Theory

ECON*6000 Microeconomic Theory I U [0.50]
A graduate course in microeconomics, intended for PhD students, presenting a rigorous treatment of the analysis of choices for consumers and producers with and without strategy and uncertainty, partial and general equilibrium, and the fundamental theorems of welfare economics.
Department(s):	Department of Economics and Finance

ECON*6010 Microeconomic Theory II U [0.50]
Advanced topics in modern microeconomics to include elements of game theory, information economics, economics of risk and uncertainty, the theory of incentives and others.
Prerequisite(s):	ECON*6000
Department(s):	Department of Economics and Finance

ECON*6020 Macroeconomic Theory I U [0.50]
A first graduate course in macroeconomics, presenting a rigorous introduction to the tools and basic models of dynamic general equilibrium theory. The topics covered include economic growth and development, economic fluctuations, and monetary and fiscal policies.
Department(s):	Department of Economics and Finance

ECON*6040 Macroeconomic Theory II U [0.50]
This course considers the dynamics resulting from intertemporal optimization models. Foundations of unemployment theory. Approaches to business cycles. Models of long-run growth.
Prerequisite(s):	ECON*6020
Department(s):	Department of Economics and Finance

ECON*6060 Mathematical Methods for Economics F [0.00]
This course is designed to provide students with the necessary mathematical tools to follow the contents of the core economics and econometrics courses in the MA program and successfully complete them. The material covered will include advanced topics in linear algebra, multivariate optimization techniques and comparative statics.
Department(s):	Department of Economics and Finance

ECON*6090 Game Theory U [0.50]
This course introduces the student to game theory, which is an important tool for modelling economic situations with multi-person interaction. Economic applications such as oligopoly, bargaining, auctions, and public goods provision will be discussed. Broader applicaitons to voting games, candidate strategy, war games, and parlour games will also be briefly discussed. Students need to be very familiar with optimization and single person decision-making.
Department(s):	Department of Economics and Finance

ECON*6090 Game Theory U [0.50]

This course introduces the student to game theory, which is an important tool for modelling economic situations with multi-person interaction. Economic applications such as oligopoly, bargaining, auctions, and public goods provision will be discussed. Broader applicaitons to voting games, candidate strategy, war games, and parlour games will also be briefly discussed. Students need to be very familiar with optimization and single person decision-making.

Department(s):

Department of Economics and Finance

ECON*6100 Experimental Economics U [0.50]
This course examines the use of the experimental methodology in economics. We will study how experiments have been used to test theories in many subfields within economics. In the process, students will learn how to construct and run economics experiments and analyze experimental data.
Department(s):	Department of Economics and Finance

ECON*6110 Mathematical Economics U [0.50]
This course introduces students to the mathematical techniques used in advanced economic analysis. Topics covered in any year: analysis of dynamic economic models and optimization in dynamic economic models.
Department(s):	Department of Economics and Finance

ECON*6500 Microeconomic Theory MA U [0.50]
A first graduate course in microeconomics, intended for Master students, presenting a rigorous treatment of the analysis of choices in markets and organizations. It covers consumer theory, general equilibrium, uncertainty, game theory, and information economics.
Restriction(s):	Restricted to MA students only.
Department(s):	Department of Economics and Finance

Econometrics

ECON*6050 Introduction to Econometric Methods U [0.50]
Introduction to the specification, estimation and testing of economic models. Topics include the classical linear regression model, t tests, structure tests, specification error, the consequences of the violation of the classical assumptions, detection and correction of autocorrelation and heteroscedasticity.
Department(s):	Department of Economics and Finance

ECON*6140 Econometrics I U [0.50]
Topics include a review of the classical linear regression model, applications of generalized least squares, maximum likelihood methods and various statistical test procedures.
Department(s):	Department of Economics and Finance

ECON*6160 Econometrics II U [0.50]
Topics include maximum likelihood as a method of estimation and inference, nonlinear estimation and simultaneous equations. Also more specialized topics such as limited-dependent-variable models and non-parametric regression methods may be covered.
Department(s):	Department of Economics and Finance

ECON*6170 Topics in Econometrics U [0.50]
This is an advanced econometrics topics course that covers the area of non-parametric and semiparametric estimation and testing of econometrics models, including time series and panel data semiparametric models.
Department(s):	Department of Economics and Finance

ECON*6180 Econometric Methods U [0.50]
This course follows ECON*6050. It covers estimation by instrumental variables, estimations of simultaneous systems, asymptotic distribution theory, maximum likelihood estimation, binary choice and limited dependent variable models, and issues in time series analysis.
Department(s):	Department of Economics and Finance

Economic History

ECON*6200 Economic History U [0.50]
This course considers topics in economic history which vary from year to year. The emphasis will be usually on late-19th or 20th century topics and often involves a world emphasis. Student presentations and papers form a large part of the course.
Department(s):	Department of Economics and Finance

ECON*6370 Economic Development in Historical Perspective U [0.50]
This course will examine the experience of economic development focusing on the emergence of the Third World. Topics for discussion will vary from year to year; they may include the impact of trade expansion during the eighteenth and nineteenth centuries, the role of manufacturing as a leading sector, statist vs. the new classical approaches to government policy, and others.
Department(s):	Department of Economics and Finance

Money and Finance

ECON*6490 Money and Banking U [0.50]
This course studies monetary economies using overlapping generations models, MIU models and CIA models. More specifically, we will study major issues in money and banking, such as the role of money and banks, the cost of inflation, and the optimal monetary policies.
Department(s):	Department of Economics and Finance

FIN*6000 Asset Pricing U [0.50]
This course examines the theory, application and real-world evidence of how financial markets work. Students examine stock, bond and currency markets, valuation of stocks and bonds and the performance of popular portfolios based on size, value and momentum. Students learn to build optimal portfolios through dynamic asset allocation, examine the risk-return relation in stocks, bonds and currencies.
Equate(s):	ECON*6380
Department(s):	Department of Economics and Finance

FIN*6100 Corporate Finance U [0.50]
This course provides students with an opportunity to evaluate and analyze corporate financial decision-making. Students examine complex issues related to corporate governance, capital budgeting, capital cost, capital structure, dividend policy, IPOS, and mergers and acquisitions.
Department(s):	Department of Economics and Finance

FIN*6200 Empirical Finance and Financial Econometrics W [0.50]
This course examines empirical research in finance, involving the integration of financial theory, financial econometrics, and data analysis. Students conduct empirical research in finance by applying econometric theories, programming analyses in various statistical software, interpreting data to generate insights and communicating findings in writing and oral presentations.
Prerequisite(s):	ECON*6140
Equate(s):	ECON*6390
Department(s):	Department of Economics and Finance

FIN*6300 Security Analysis and Portfolio Management U [0.50]
This course provides students with the opportunity to analyze companies in the context of how they construct equity portfolios and examine the valuation of firms and the calculation of companies’ intrinsic value. Students explore the role and activities of equity security analysis in highly competitive markets.
Equate(s):	ECON*6820
Department(s):	Department of Economics and Finance

FIN*6400 International Finance U [0.50]
This course provides students with the international finance knowledge required to manage financial assets in a global environment. Students examine foreign exchange forecasting and risk management using various techniques, including derivative instruments. Students discuss articles and cases related to capital flows in international markets, financing trade flows and open economy macroeconomic models.
Equate(s):	ECON*6320
Department(s):	Department of Economics and Finance

FIN*6800 Special Topics in Finance U [0.50]
This course provides opportunities for graduate students to study topics in finance that are not covered in other graduate-level finance courses. The course is offered when there are both available faculty and sufficient interest among students.
Department(s):	Department of Economics and Finance

Developmental Economics

ECON*6350 Economic Development U [0.50]
This course examines economic development from an international perspective: theories, history, policies and prospects.
Department(s):	Department of Economics and Finance

Labour Economics

ECON*6600 Labour Economics U [0.50]
Major themes in labour market theory including static and dynamic labour demand and supply, migration and wage structures and dynamics, unemployment, migration and the role of social programs.
Department(s):	Department of Economics and Finance

ECON*6610 Topics in Labour Economics U [0.50]
This course complements ECON*6600. Topics include advanced issues in family labour supply, human capital, wage bargaining and contract theory, search theory, duration analysis and its application to major labour market spells such as employment and unemployment.
Department(s):	Department of Economics and Finance

Environmental and Resource Economics

ECON*6800 Environmental Economics U [0.50]
A topics course concerning the interrelationships between economic activities and the state of the natural environment. Topics may include: pollution and economic growth; energy use and environmental quality; international trade and pollution; policies for controlling pollution; techniques for assessing the benefits of environmental improvement.
Department(s):	Department of Economics and Finance

ECON*6810 Economic Theory of Natural Resources Use U [0.50]
This course examines economic models of the use of non-renewable resources to analyze issues such as resource conservation, sustainable development, taxation of resource rents, and price determination in resource markets.
Department(s):	Department of Economics and Finance

Other

ECON*6300 International Trade Theory U [0.50]
This course provides a rigorous treatment of both positive and normative aspects of trade theory through extensive use of general equilibrium models under varying assumptions. Topics may also include barriers to trade, international factor movements, growth and development, and strategic trade policy.
Department(s):	Department of Economics and Finance

ECON*6400 Public Finance U [0.50]
This course surveys the normative theory of the public sector. Topics may include public expenditure theory, tax theory, cost benefit analysis and fiscal federalism.
Department(s):	Department of Economics and Finance

ECON*6650 Economics of Social Welfare U [0.50]
This course deals with the analysis of social welfare programs, concentrating on national health insurance. It covers their structure, incentives and distribution effects, and includes empirical analysis of existing programs.
Department(s):	Department of Economics and Finance

ECON*6700 Industrial and Market Organization U [0.50]
The major topics of industrial organization are analyzed from both a game theoretic perspective and from a Structure-Conduct-Performance perspective. Typical topics include: oligopoly theory, determinants of industrial structure, Coase theorem, market entry, advertising, research and development, product differentiation, and price discrimination.
Department(s):	Department of Economics and Finance

ECON*6750 Managerial Economics U [0.50]
The course introduces students to the latest developments in the economic analysis of the inside workings and organization of firms. The course tries to explain the diversity of economic organizations, and more generally why economic activity is sometimes carried out through firms and sometimes through markets. For graduate students outside the Department of Economics and Finance.
Department(s):	Department of Economics and Finance

ECON*6770 Financial Management U [0.50]
This course examines the implications of financing decisions made by firms in a world of uncertainty. Topics such as capital budgeting, capital structure, dividend policy, market efficiency and capital asset pricing will be analyzed from the perspective of corporate finance and portfolio management theory.
Department(s):	Department of Economics and Finance

ECON*6930 Reading Course U [0.50]
In some circumstances, students may arrange to take a reading course under the direction of a faculty member.
Department(s):	Department of Economics and Finance

ECON*6940 Research Project U [1.00]
All students who choose the research project option in the MA program will register in this course. Research projects are written under the direct supervision of a faculty member. Normally, research projects are completed within one or two semesters. Students must make a presentation of their work and a copy of the final report must be submitted to the Department before the final grade is submitted to the Office of Graduate and Postdoctoral Studies.
Department(s):	Department of Economics and Finance

ECON*6940 Research Project U [1.00]

All students who choose the research project option in the MA program will register in this course. Research projects are written under the direct supervision of a faculty member. Normally, research projects are completed within one or two semesters. Students must make a presentation of their work and a copy of the final report must be submitted to the Department before the final grade is submitted to the Office of Graduate and Postdoctoral Studies.