XII. Course Descriptions
Economics
Department of Economics and Finance
For courses without semester designations, please check with the department. Advance schedules are available in the department.
| ECON*1050 Introductory Microeconomics S,F,W (3-0) [0.50] |
| An introduction to the Canadian economy: price determination, market structure and resource allocation; the behaviour of consumers
and firms; market intervention by government. Some of the economic issues addressed may include agricultural price supports,
rent control, the NAFTA, environmental regulation, price discrimination, pay equity, and taxation. (Also offered through Distance
Education format.)
|
| Equate(s): |
ECON*1200 |
| ECON*1100 Introductory Macroeconomics S,F,W (3-0) [0.50] |
| This course looks at the Canadian Economy in terms of aggregate performance and policy; analysis of the determinants of national
income, employment and the price level, and the role of government monetary and fiscal policies in improving the rate of economic
growth. (Also offered through Distance Education format.)
|
| Prerequisite(s): |
ECON*1050 or FARE*1040 |
| ECON*2200 Industrial Relations F (3-0) [0.50] |
| This is a survey course of the Canadian industrial relations system. Among the topics covered are: the growth and objectives
of unions, the legal framework of collective bargaining, the effects of unions on industry and the economy, industrial conflict
and public policies.
|
| Prerequisite(s): |
ECON*1050 |
| ECON*2410 Intermediate Macroeconomics S,F,W (3-1) [0.50] |
| This course is an analysis of open as well as closed economy models of aggregate spending, output, employment, prices and
interest rates under alternative assumptions about the nature of labour, product and financial markets. The analysis of theories
of consumption, investment and money demand. (Also offered through Distance Education format.)
|
| Prerequisite(s): |
ECON*1100, (1 of MATH*1000, MATH*1030, MATH*1080, MATH*1200)
|
| ECON*2420 Canadian Economic History U (3-0) [0.50] |
| This course surveys the development of the Canadian economy from the aboriginal economy to the early fur and fish trades,
agricultural settlement, industrialization, the Great Depression, growth of the public sector and fast economic growth after
World War Two. Particular attention is paid to international economic relations and to regional differences within Canada.
|
| Prerequisite(s): |
ECON*1050, (ECON*1100 or HIST*2450)
|
| ECON*2560 Theory of Finance F,W (3-0) [0.50] |
| This course looks at capital budgeting and long-term finance and investment decisions by firms and individuals. It introduces
capital asset pricing under uncertainty and the concept of efficient markets. A major emphasis is on corporate finance. (Also
offered through Distance Education format.)
|
| Prerequisite(s): |
ECON*1100, (1 of ECON*2310, MATH*1000, MATH*1030, MATH*1080, MATH*1200), (1 of ECON*2740, PSYC*2010, STAT*2040, STAT*2050, STAT*2060, STAT*2080, STAT*2090, STAT*2100, STAT*2120)
|
| Restriction(s): |
ECON*3460, ECON*3560 |
| ECON*2650 Introductory Development Economics F (3-0) [0.50] |
| This course introduces students to the economic experience of developing countries, the ways in which economists try to understand
it, and the implications for policy. The basic tools of economic analysis as taught in the introductory courses are used to
analyse topics that may include theories of growth, trade, education, foreign investment, exchange rates, labour markets,
the role of government, environmental sustainability and strategies related to agriculture, population, industry and investment.
|
| Prerequisite(s): |
ECON*1050, ECON*1100 |
| ECON*2720 Business History W (3-0) [0.50] |
| This course surveys the evolution of economic activity and organization from the industrial revolution to the present. Particular
attention is given to the changing relationship between technology and business organization, the shift from proprietorship
to corporation and the rise of multinational enterprise. Other topics may include the relationship between business and government,
the role of the entrepreneur in the process of technical change and the evolution .of work patterns and standards of living.
|
| Prerequisite(s): |
ECON*1050, (ECON*1100 or any 1.50 credits in history)
|
| ECON*2740 Economic Statistics F,W (3-1) [0.50] |
| This course is designed to prepare students conceptually and mathematically for ECON*2560, Theory of Finance and ECON*3740, Introduction to Econometrics. Topics include the summation operator, descriptive statistics, frequency distributions, probability
and statistical independence, the binomial distribution, algebra of the expectation operator, discrete bivariate distributions,
covariance, variance of a linear function of random variables, the normal and t distributions, sampling distributions, point
and interval estimation, hypothesis testing and an introduction to ordinary least squares. Additional topics may be included
at the instructor's discretion. Examples and assignment questions are drawn from economics and finance.
|
| Prerequisite(s): |
ECON*1100, (ECON*1050, or FARE*1040), (1 of MATH*1000, MATH*1030, MATH*1050, MATH*1080, MATH*1200)
|
| ECON*3100 Game Theory W (3-1) [0.50] |
| The course introduces students to non-cooperative game theory, which is an important method of analysis for economics situations
involving small numbers of interacting economic agents. The course is centered on the concept of Nash equilibrium, and applies
this equilibrium concept to static and dynamic games with full as well as incomplete information. The purpose of the course
is to enable students to take any economic situation, find an economic model (game) that depicts the incentives facing the
participants, and analyze the game to predict the behaviour of the economic agents.
|
| Prerequisite(s): |
ECON*2310, ECON*2410, (ECON*2770 or MATH*1210)
|
| Restriction(s): |
ECON*3770 |
| ECON*3300 Economics of Health and the Workplace U (3-0) [0.50] |
| This course will introduce students to concepts of health economics with particular relevance to workplace issues. Topics
to be covered include the determinants of health, the demand for and supply of health care, the market for health care providers,
health insurance, public and private, the role of health insurance in the labour market, whether not having to provide comprehensive
health insurance to their workers gives Canadian firms an edge over their American competitors, workplace health risks and
their effects on working conditions and salaries, workplace wellness programs and their evaluation, and the analysis of the
cost effectiveness of health interventions.
|
| Prerequisite(s): |
ECON*2310, (1 of ECON*2740, PSYC*2010, STAT*2040, STAT*2050, STAT*2060, STAT*2080, STAT*2090, STAT*2100, STAT*2120)
|
| ECON*3360 The Strategy of Mergers and Acquisitions F (3-0) [0.50] |
| As changes occur in product markets, public policy, and technology, the scope and scale required for companies to be competitive
often changes as well. This course examines the role of mergers and acquisitions (M&A) in repositioning companies to remain
competitive, to grow, or to exit. The course also examines how M&A can create value across a range of company types and situations.
A means of assessment of M&A success or failure is provided and the course outlines the processes and skills required for
successful M&A strategies, relevant to executives and supporting professional services in most industries today.
|
| Prerequisite(s): |
ECON*2310, ECON*2410, ECON*2560 |
| ECON*3400 The Economics of Personnel Management U (3-0) [0.50] |
| In this course, we examine the economics of personnel management in organizations. Using mainstream microeconomic and behavioural
economic theory, we will consider such issues as recruitment, promotion, financial and non-financial incentives, compensation,
job performance, performance evaluation, and investment in personnel. The interplay between theoretical models and empirical
evidence will be emphasized in considering different approaches to the management of personnel.
|
| Prerequisite(s): |
ECON*2310 or ECON*2200 |
| ECON*3460 Introduction to Finance F (3-0) [0.50] |
| This course examines some important principles of the theory of finance which underlie investment (capital budgeting) and
associated financing decisions of financial managers. These decisions are necessarily interdependent and typically carried
out under conditions of uncertainty regarding the future values of key economic variables, for example, cash flows. Problems,
illustrations and short case studies are used to demonstrate how finance theory can be applied and assist financial managers
to make optimal decisions. (Not open to B.Comm. MEIF or MEIF:C students.) (Last Offering - Fall 2013)
|
| Prerequisite(s): |
ECON*1050, ECON*1100, (1 of ECON*2740, PSYC*2010, STAT*2060, STAT*2080)
|
| Restriction(s): |
For B.Comm. students only. But, B.Comm.(MEIF) not allowed to take this course. |
| ECON*3500 Urban Economics U (3-0) [0.50] |
| This course is designed to apply the basic principles of intermediate economic theory to problems facing urban areas with
emphasis on Canada. Topics to be covered will include such things as housing, urban poverty, municipal financing, transportation.
|
| Prerequisite(s): |
ECON*2310 |
| ECON*3520 Labour Economics U (3-0) [0.50] |
| A study of the labour market, wage determination and the relationship between wages, employment, and prices. |
| Prerequisite(s): |
ECON*2310, (1 of ECON*2740, PSYC*2010, STAT*2040, STAT*2050, STAT*2060, STAT*2080, STAT*2090, STAT*2100, STAT*2120)
|
| ECON*3530 Industrial Organization U (3-0) [0.50] |
| This course examines industries in which firms have the potential to exercise market power. Topics include how the competitive
environment affects the behaviour of firms, measuring the extent of market power on welfare. The performance of markets under
monopolies, dominant firms, cartels and oligopolies is examined and related aspects of Canadian competition policy and regulations
are discussed.
|
| Prerequisite(s): |
ECON*2310, (ECON*2770 or MATH*1210)
|
| ECON*3580 Economics of Regulation U (3-0) [0.50] |
| A study of the economic reasons for government intervention in the marketplace. Emphasis will be placed on the role of crown
corporations, regulatory agencies, regulation rules and public sector price-setting in the Canadian economy.
|
| Prerequisite(s): |
ECON*2310 |
| ECON*3610 Public Economics U (3-0) [0.50] |
| This course examines the interventionist role of government in the economy. It examines several sources of market failure
which are used to justify government intervention. These include public goods, externalities and redistribution. The course
also evaluates alternative sources of government revenue from the perspectives of both equity and efficiency. These include
the personal and corporate income taxes, sales taxes and wealth taxes.
|
| Prerequisite(s): |
ECON*2310 |
| ECON*3620 International Trade U (3-0) [0.50] |
| An introduction to the general equilibrium analysis of international trade, international factor movements and commercial
policy. Special emphasis is given to Canada's international trade relationships.
|
| Prerequisite(s): |
ECON*2310 |
| ECON*3720 History of the World Economy Since 1850 U (3-0) [0.50] |
| The focus of the course is the study of the evolution of the world economy since 1850. Topics may include the costs and benefits
of empire to Britain, Anglo-German trade rivalry, the rise to prominence of "settler colonies", economic growth in the Third
World, reparations and war debt, agricultural overproduction, origins of the Great Depression, the 1945-1973 boom in world
production and trade.
|
| Prerequisite(s): |
ECON*1050, ECON*1100, (1 of ECON*2310, EURO*1050, HIST*2450, HUMN*2070, IDEV*2010, IDEV*2500)
|
| ECON*3730 Europe and the World Economy to 1914 U (3-0) [0.50] |
| This course surveys the world economy with a particular focus on the industrial revolution in Europe, demographic change,
the rise to prominence of the 'settler colonies', the origins of international inequality and the experience of globalization
during the later nineteenth century. Particular attention is given to international trade, capital flows and migration.
|
| Prerequisite(s): |
ECON*1050, ECON*1100, (1 of ECON*2310, EURO*1050, EURO*2070, HIST*2450, HUMN*2070, IDEV*2010, IDEV*2500)
|
| ECON*3740 Introduction to Econometrics F,W (3-1) [0.50] |
| This computer-based course involves the specification and estimation of economic models and the testing of economic hypotheses
using appropriate test statistics. Topics include the summation operator, expectation operator, ordinary least squares estimation,
dummy variables, seasonality, multicollinearity, heteroskedasticity, autocorrelation, data sources (including uses of the
Data Resource Centre). Additional topics may be included at the instructor's discretion. Heavy emphasis will be placed on
applications and writing up results. Some use of spreadsheet software (e.g. QuattroPro, Excel) and statistical software (e.g.
TSP, SHAZAM) will be required.
|
| Prerequisite(s): |
ECON*2310, ECON*2410, ( 1 of ECON*2740, STAT*2040, STAT*2060, STAT*2080), (ECON*2770 or MATH*1210)
|
| ECON*3810 Advanced Macroeconomics W (3-0) [0.50] |
| This course provides an advanced study of a wide range of issues in intertemporal macroeconomics. When constructing macroeconomic
models in this course we will explicitly take into account microeconomic foundations. The models constructed will be used
to study short-run fluctuations (or business cycles) and long term growth, and to explain cross country income disparities.
Topics also include open economy macroeconomic issues.
|
| Prerequisite(s): |
ECON*2410, (ECON*2740 or STAT*2040), (ECON*2770 or MATH*1210)
|
| Equate(s): |
ECON*3600 |
| ECON*4400 Economics of Organizations and Corporate Governance U (3-0) [0.50] |
| This course introduces students to the latest developments in the economic analysis of the inside workings of firms. The course
is centered on the concept of organizational structure, which is made up of three variables: allocation of decision rights,
performance evaluation and performance incentives. 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. (Offered through
Distance Education format only.)
|
| Prerequisite(s): |
ECON*2310 Students must have completed a minimum of 12 credits.
|
| ECON*4500 Topics in Urban Economics U (3-0) [0.50] |
| This course will investigate selected theoretical and applied topics in urban economics in depth. Among topics which might
be treated are location theory, the theory of spatial structure, transportation economics, the economics of housing, the economics
of land use regulation, urban public finance.
|
| Prerequisite(s): |
ECON*3740, (ECON*3710 or ECON*3500)
|
| ECON*4560 Advanced Topics in Finance U (3-0) [0.50] |
| This course will examine selected advanced topics in finance, such as optimal capital structure under asymmetric information;
theoretical and empirical analysis of mergers and acquisitions; asset pricing theory; pricing derivative securities; and financial
econometrics.
|
| Prerequisite(s): |
(ECON*2560 or ECON*3560), ECON*3710, (1 of ECON*3100, ECON*3770, ECON*3810, ECON*4700), ECON*3740, (2 of ECON*3360, ECON*3510, ECON*3660, ECON*3760, FARE*4240, ECON*3860, ECON*3960)
|
| ECON*4640 Applied Econometrics I F (3-0) [0.50] |
| This course discusses the classical linear regression model and its extensions including generalized least squares and the
theory and application of F tests. The maximum likelihood principle is introduced, as are alternative approaches to testing,
e.g. LM, LR and Wald tests. Additional topics may be included at the instructor's discretion. Matrix algebra is used and proof
of the Gauss-Markov theorem is included, but discussion of proofs is in general limited in order to allow substantial applications
to data using statistical software such as TSP, SHAZAM, SAS, STATA.
|
| Prerequisite(s): |
ECON*3740 |
| Equate(s): |
ECON*4740 |
| ECON*4700 Advanced Mathematical Economics F (3-1) [0.50] |
| This course provides students with the necessary mathematical skills required to build rigorous models in economics, including
differential and integral calculus, optimization and comparative statics analysis and advanced topics in linear algebra. It
continues in the second half with application to modelling in a particular area of economics. The specific area will vary
from year to year, and can include such topics as general equilibrium modelling, mathematical Finance models, or economics
of the environment.
|
| Prerequisite(s): |
(ECON*3600 or ECON*3810), ECON*3710, ECON*3740 |
| ECON*4750 Topics in Public Economics U (3-0) [0.50] |
| This course examines selected topics related to the expenditure and taxation functions of government. Topics may include issues
in public good theory such as the free rider problem, the problem of eliciting truthful revelation of preferences and the
use of taxes as a corrective device for externalities. The course may also address optimal taxation as well as tax evasion.
Throughout this course the trade-off between efficiency and equity is emphasized.
|
| Prerequisite(s): |
ECON*3710 |
| ECON*4780 Topics in Industrial Organization U (3-0) [0.50] |
| Selected topics in the theoretical and empirical study of the organization and performance of firms and markets are covered
in this course. Topics may include: strategic behaviour of firms such as actions to deter entry of rivals, pre-emptive choice
of location and product quality, and research and development; the regulation of firms under uncertainty; econometric analysis
of the use of market power; and modern advances in the theory of the firm.
|
| Prerequisite(s): |
ECON*3530, ECON*3740 |
| ECON*4840 Applied Econometrics II W (3-0) [0.50] |
| This is a continuation of ECON*4640 and deals with asymptotic theory, maximum likelihood estimation, instrumental variables, simultaneous equation models and
selected topics such as models for limited dependent variables, models for panel data, ARCH models, units roots and error
correction models. There will be applications to data using statistical software.
|
| Prerequisite(s): |
ECON*4640 |
| ECON*4900 Special Study in Economics S,F,W (3-0) [0.50] |
| The special study option is designed to provide senior undergraduate students with an opportunity to pursue an independent
course of study. The subject matter will be related to regular 4000 level courses. Students will be required to submit a major
paper/report on the subject matter studied. Formal agreement between the student and instructor of the course is required
as well as the approval of the department chair or designate.
|
| Prerequisite(s): |
(ECON*3600 or ECON*3810), ECON*3710, ECON*3740 |
