Course Descriptions

Economics, Faculty of Arts and Sciences

ECON: Economics

ECON 101 (3) Principles of Microeconomics
Elements of theory and Canadian policy and institutions concerning the economics of markets and market behaviour, prices and costs, exchange and trade, competition and monopoly, distribution of income. [3-0-0]
ECON 102 (3) Principles of Macroeconomics
Elements of theory and Canadian policy and institutions concerning the economics of growth and business cycles, national income accounting, interest and exchange rates, money and banking, the balance of trade. [3-0-0]
ECON 112 (3) Introduction to the Canadian Economy
Basic guide to economics. Covers a broad range of topics, emphasizing an institutional rather than theoretical approach. This course is often followed by ECON 122. [3-0-0]
ECON 122 (3) Introduction to Economic History and Thought
Evolution of economic society and its problems, with special attention to the theories of the great economic philosophers past and present. [3-0-0]
ECON 204 (3) Intermediate Microeconomic Analysis
Microtheory course at the post-principles level. Analysis of consumer behaviour, production, exchange, equilibrium of the firm under varying market structures, factor markets, economic efficiency, and welfare. [3-0-1]
Prerequisite: ECON 101 and one of MATH 100, MATH 116.
ECON 205 (3) Intermediate Macroeconomic Analysis
Macrotheory course at the post-principles level. Income and employment theory, monetary and fiscal policies, the impact of international trade and finance on the domestic economy, economic growth and fluctuations. [3-0-1]
Prerequisite: ECON 102 and one of MATH 100, MATH 116.
ECON 221 (3) Introduction to Strategic Thinking
Game theory with applications drawn from many disciplines and the principles of strategic interactions. [3-0-0]
Prerequisite: All of ECON 101, ECON 102.
ECON 232 (3) History of Economic Thought
Evolution of economic thinking from ancient to present times. The Greek, Islamic, and Medieval scholars; the Physiocrats, Adam Smith, Malthus, Bentham, Ricardo, Mill, Marx, Keynes, and other major economic thinkers. Development of fundamental economic ideas and conflicting perspectives are studied within their social and economic context. [3-0-0]
Prerequisite: All of ECON 101, ECON 102.
ECON 257 (3) Topics in International Economic Policy
Selected topics in international trade and international finance. Emphasis is on current policy issues with examples drawn from experiences in Canada, other industrialized nations, and developing economies. [3-0-0]
Prerequisite: All of ECON 101, ECON 102.
ECON 260 (3) Poverty and Inequality
Economic analysis of poverty and inequality in Canada and other countries. Measurement and definition of poverty and inequality; demographic analysis of poverty and inequality, and distribution by age, sex, and region in Canada. Public policy issues of welfare, workfare, and social assistance. No economics background needed. [3-0-0]
ECON 261 (3) Economics of Developing Countries
Introduction to economic conditions in less developed countries. What constitutes underdevelopment; theories of why some countries are less developed than others. Internal and external economic policies useful in changing the economic performance of these countries. No economics background needed. [3-0-0]
ECON 295 (3) Managerial Economics
Economic foundations of managerial decision-making. Demand theory, cost and production, market structure, competitive strategy, organization of the firm, welfare-economic foundations of business regulation. [3-0-0]
Prerequisite: All of ECON 101, ECON 102.
ECON 297 (3) Economics of Sports
Application of economic analysis to sports. Credit will be granted for only one of ECON 297 or ECON 391 when the subject matter is of the same nature. [3-0-0]
Prerequisite: All of ECON 101, ECON 102.
ECON 308 (3) Intermediate Microeconomics II
Factor markets, general equilibrium, uncertainty and information, contract theory, externalities, public goods, and welfare. [3-0-0]
Prerequisite: ECON 204.
ECON 309 (3) Intermediate Macroeconomics II
Intermediate Macroeconomic theory and empirics. Macroeconomic fundamentals in the short and long run, monetary theory, open economy macroeconomics, financial markets, and sovereign debt. [3-0-0]
Prerequisite: All of ECON 204, ECON 205.
ECON 320 (3) Introduction to Mathematical Economics
Application of single and multivariable calculus to economics. Includes comparative static analysis of household and firm behaviour as well as simple dynamic models. Credit will be granted for only one of ECON 320 or ECON 391 when the subject matter is of the same nature. [3-0-0]
Prerequisite: All of ECON 101, ECON 102 and one of MATH 101, MATH 142.
ECON 321 (3) Experimental Economics
Methodology, design and techniques of experimental economics. Participation in various in-class experiments and market simulations. [3-0-0]
Prerequisite: One of ECON 204, ECON 205, ECON 221, ECON 295.
ECON 327 (3) Introduction to Empirical Economics
The essentials of probability and statistics for applied work in economics. Topics include descriptive statistics, probability, estimation, hypothesis testing, and analysis of variance. [3-0-1]
Prerequisite: All of ECON 101, ECON 102 and one of MATH 101, MATH 142.
Corequisite: STAT 230.
ECON 328 (3) Methods of Empirical Research
Techniques of empirical economic research. Simple and multiple regression, time series analysis, and simultaneous equation estimation. Students are required to undertake applied work. [3-0-1]
Prerequisite: ECON 327.
ECON 330 (3) World Economy to 1800
Development of the world economy, from ancient times to the onset of the Industrial Revolution around 1800 and the unique influence of Western Europe. Provides a long-term historical perspective and an opportunity to apply economic analysis. [3-0-0]
Prerequisite: All of ECON 101, ECON 102.
ECON 331 (3) World Economy since 1800
Development of the world economy, from the onset of the Industrial Revolution around 1800 to the present. Broad causes of world economic development, interaction between economic forces and social institutions, and development of particular national economies. [3-0-0]
Prerequisite: All of ECON 101, ECON 102.
ECON 332 (3) Canadian Economy to 1929
Historical development of Canadian economy and major Canadian economic policy issues from early colonial times to the onset of the Great Depression. Native economies; staples trades; economics of Confederation; national policy; Western settlement; relative development of Canadian regional economies; monetary, capital, and labour market development. [3-0-0]
Prerequisite: All of ECON 101, ECON 102.
ECON 333 (3) Canadian Economy since 1929
Historical development of Canadian economy and major Canadian economic policy issues from the onset of the Great Depression to the present. Causes, consequences, and recovery from the Great Depression; wartime economic planning; post-war boom; nationalist economic policy; macroeconomic management; free trade debate. [3-0-0]
Prerequisite: All of ECON 101, ECON 102.
ECON 339 (3) Economics of Technological Change
Application of economic analysis to technological change; impact of technological change on the growth and distribution of income; economic influences on the invention and diffusion of technology; interaction between technology, work, skills, and education; public policy toward technological change. [3-0-0]
Prerequisite: All of ECON 101, ECON 102.
ECON 340 (3) Financial Economics
Fundamental topics in financial economics, including net present value, risk and expected return, valuing bonds and equities, the capital asset pricing model, futures and options, and international investing. [3-0-0]
Prerequisite: All of ECON 101, ECON 102.
ECON 345 (3) Money and Banking
Financial markets and financial institutions in theory and practice; structure and development of the Canadian financial system; development and theory of the regulation of the financial system; process of monetary control; theory and history of central banking and monetary policy. [3-0-0]
Prerequisite: All of ECON 101, ECON 102.
ECON 351 (3) Women in the Economy
Economic analysis of markets and policies particularly affecting women. Economic discrimination; educational, occupational, and work choices; pay and employment equity; allocation of work time; household and market consumption; economics of marriage and fertility; poverty; taxation; income security and pension policies; and historical perspectives. [3-0-0]
Prerequisite: All of ECON 101, ECON 102.
ECON 352 (3) Public Sector Economics
The government plays a pervasive role in the Canadian economy. The powerful tools of government policy - taxation, spending, borrowing, and regulation - affect the economic life of every Canadian. This course applies the tools of economic analysis to the study of some of the most important aspects of public policy in these areas. [3-0-0]
Prerequisite: All of ECON 101, ECON 102.
ECON 355 (3) International Trade
The determinants of trade patterns, trade policy, tariff and non-tariff barriers to trade, political economy of protectionism, bilateral and multilateral trade disputes, trade liberalization, trade and development. [3-0-0]
Prerequisite: All of ECON 101, ECON 102.
ECON 356 (3) International Finance
Exchange rate policy regimes; international financial organizations; the interaction between monetary policy and exchange rate regimes; financial crises. [3-0-0]
Prerequisite: All of ECON 101, ECON 102.
ECON 358 (3) Competitiveness in the International Economy
Emphasis on the major economies in North America, Europe, and East Asia. Determinants of competitiveness in nations and corporations, industrial and strategic trade policies of governments, importance of high-technology industries, role of multinational corporations. [3-0-0]
Prerequisite: All of ECON 101, ECON 102.
ECON 360 (3) Labour Economics
Canadian labour market. Labour supply, allocation of time among work and non-market activity, labour force participation, education and training. Determination of and effect of unions on wages and employment. Wage structure and differentials. [3-0-0]
Prerequisite: All of ECON 101, ECON 102.
ECON 361 (3) Economics of Industrial Relations
Economic aspects of industrial relations in Canada; why workers join unions; theory of trade union behaviour; labour movement in Canada; wage determination under collective bargaining; causes of strikes and lockouts; unions and wage structure. [3-0-0]
Prerequisite: All of ECON 101, ECON 102.
ECON 370 (3) Benefit-Cost Analysis and the Economics of Project Evaluation
Techniques and problems in benefit-cost analysis of public projects. Examination of alternative approaches to public decision-making such as cost-effectiveness analysis and multiple-objective frameworks. Case studies of projects in the areas of natural resources, the environment, human resources, public services, and transportation. [3-0-0]
Prerequisite: Either (a) all of ECON 101, ECON 102 or (b) ENGR 305.
ECON 371 (3) Economics of the Environment
Economic analysis applied to various environmental issues, including sustainable development, quality of life, and environmental impacts of specific industrial and consumption activities. The design and implementation of government policies. Global environmental effects of human economic activity. [3-0-0]
Prerequisite: All of ECON 101, ECON 102.
ECON 372 (3) Natural Resource Economics
Application of economic analysis to the management of renewable and nonrenewable natural resources. Optimal use of depletable resources such as forests and water; public policy with regard to conservation and outdoor recreation; mineral economics and the economics of alternative energy sources. [3-0-0]
Prerequisite: All of ECON 101, ECON 102.
ECON 386 (3) Industrial Organization and Regulation
Survey of the behaviour and performance of firms. Determinants and measures of market structure, oligopoly theory, strategic behaviour, predation, entry deterrence, advertising, regulation, and competition policy. [3-0-0]
Prerequisite: All of ECON 101, ECON 102, ECON 204.
ECON 390 (3) Economics of Public Choice
Economic methodology as applied to the study of the political market. Topics may include voting, democracy, bureaucracy, rent seeking, redistribution, and economics of constitutions. [3-0-0]
Prerequisite: All of ECON 101, ECON 102.
ECON 391 (3/9) d Topics in Economics
Examination of selected topics in current economic theory and/or policy. Topics vary each time the course is offered. With different topics, the course can be taken more than once for credit. [3-0-0]
Prerequisite: All of ECON 101, ECON 102.
ECON 401 (3) Applied Microeconomic Analysis
Advanced analysis of consumer theory, market supply and demand, competition, general equilibrium, the theory of the firm, and the economics of information and uncertainty. [3-0-0]
Prerequisite: ECON 204 and one of MATH 100, MATH 116 and one of MATH 101, MATH 142 and third-year standing.
ECON 402 (3) Applied Macroeconomic Analysis
Advanced treatment of the core topics in macroeconomics such as the business cycle, inflation, unemployment, growth, alternative exchange rate regimes, and fiscal and monetary policy. [3-0-0]
Prerequisite: ECON 205 and one of MATH 100, MATH 116 and one of MATH 101, MATH 142 and third-year standing.
ECON 409 (3) Economic Growth Theory
Advanced topics in economic growth theory and their applications to Real Business Cycle theory. Topics include exogenous and endogenous growth theory, Neoclassical and New Classical growth theory. Credits will be granted for only one of ECON 409 or ECON 491 when the subject matter is of the same nature. [3-0-0]
Prerequisite: All of ECON 204, ECON 205 and one of MATH 100, MATH 116 and third-year standing.
ECON 427 (3) Econometrics
Advanced treatment of estimation, inference, and econometric problems and techniques with focus on both theoretical and applied methods and with application to a variety of economic models. Credit will be granted for only one of ECON 427 or ECON 491 when the subject matter is of the same nature. [3-0-0]
Prerequisite: ECON 328 or 3 credits of ECON and 3 credits of upper-level STAT.
ECON 452 (3) Urban Economics
Economic analysis of urban economies and urban problems. Agglomeration economies, public goods, taxation, local political economy, housing, and development. [3-0-0]
Prerequisite: ECON 328 and one of ECON 308, ECON 386.
ECON 491 (3) Advanced Topics in Economics
Advanced examination of selected topics in current economic theory and/or policy. Topics vary each time the course is offered. [3-0-0]
Prerequisite: All of ECON 204, ECON 205 and one of MATH 100, MATH 116 and one of MATH 101, MATH 142 and third-year standing.
ECON 493 (3/6) c Directed Studies
Examines a specific topic in economics under the supervision of an Economics faculty member. With agreement of the dean of the faculty, and the supervising faculty member, a student may take and receive credit for this course more than once.
Prerequisite: All of ECON 204, ECON 205 and permission of the department.
ECON 495 (3) Honours Seminar
Reports and group discussions of selected topics for fourth-year Honours students. Development of a research proposal. [0-0-3]
Prerequisite: Admission to the B.A. or B.Sc. Economics Honours Program
ECON 497 (3) Directed Studies for PPE Major
Supervised investigation of an assigned topic in public policy. Requires a significant amount of independent reading and analysis, and production of a major term paper at the end of the course.
Prerequisite: Fourth-year standing in the PPE Major program with an emphasis in Economics (option A) and permission of the instructor.
ECON 499 (3) Honours Essay
Essay on some theoretical, applied, or institutional problem and a formal presentation of the findings.
Prerequisite: ECON 495.

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