Course Descriptions
Economics 1010H fa/wi (Sc)
Introductory microeconomics
An introductory treatment of markets, prices and outputs based on the behaviour of consumers, business firms and the structure and organization of industries. Selected economic and social policies including taxation, international markets and trade policy are also examined.
Three lecture hours weekly.
Z. Kayani (fa), M. Arvin (wi)
Economics 1020H fa/wi (Sc)
Introductory macroeconomics.
An introductory study of the total economy in terms of GDP, employment, unemployment, prices, and inflation using simple economic models. The Canadian banking system, monetary policy, the government sector, government budgets and fiscal policy are examined. Selected aspects of international trade, the balance of payments, and exchange rates are included.
Three lecture hours weekly.
B. Lew (fa), S. Choudhry (wi)
Economics 2000H fa (Sc)
Intermediate microeconomic theory I (Sc)
An examination of problems of demand and supply, market equilibrium and market structure. A comprehensive treatment of the theoretical techniques used to deal with problems of resource allocation and applications of those techniques. Develops skills necessary for advanced work in economics.
Prerequisite: Economics 1010H, 1020H.
Three lecture hours weekly, seminar weekly.
R. Tahir
Economics 2010H fa (Sc)
Intermediate macroeconomic theory I (Sc)
A study of output (GDP), employment and inflation in the national economy, including the effects of monetary, fiscal and exchange rate policies. Current macroeconomic models are used to examine fluctuations in economic activity, and the objectives, design, implementation and evaluation of monetary and fiscal policies.
Prerequisite: Economics 1010H, 1020H.
Three lecture hours weekly.
Z. Kayani
Economics-Administration 2200H wi (Sc)
Introduction to statistics for economics and management.
This course introduces statistical methods in an applied setting with an emphasis on the development of theory through interactive learning. The material covered includes descriptive statistics, data analysis, inference and estimation techniques.
Prerequisite: Economics 1010H, 1020H.
Three lecture hours weekly, problem session fortnightly.
T. Drewes
Economics-Administration 2250H fa (Sc)
Introduction to mathematics for economics and management.
Topics include partial and general equilibrium, elementary linear algebra, elementary calculus, basic optimization theory, comparative static analysis and linear programming. These tools are integrated with and applied to micro and macroeconomic theory and managerial economics.
Prerequisite: Economics 1010H, 1020H.
Three lecture hours and problem session weekly.
M. Arvin, J. Muldoon
Economics-Canadian Studies 2600H
Canadian economic development.
Aspects of the development of a small, open economy; the application of economic analysis to the study of Canadian development to 1929. Topics include the settlement process, expansion of labour markets, resources and their exploitation, industrialization, an assessment of regional economic differences.
Prerequisites: Economics 1010H, 1020H.
Two lecture hours weekly, seminar fortnightly. (Not offered in 2010-2011)
B. Lew
Economics-Canadian Studies 2610H
The Canadian economy.
Problems and policies in Canadian economic development since 1929. Topics include: the legacy of the Depression; government policy on trade, immigration and foreign investment; macroeconomic stabilization and social welfare; trends in employment and unemployment; exchange rate policy; fiscal policy and government budget deficits.
Prerequisite: Economics 1010H, 1020H.
Two lecture hours weekly, seminar fortnightly.
B. Lew
Economics 3000H wi (Sc)
Intermediate microeconomic theory II
A continuation of Economics 2000H to examine the theory of general equilibrium, factor markets, externalities, public goods and asymmetric information. Game theory will be introduced.
Prerequisite: Economics 2000H. (Excludes Economics 200).
Three lecture hours weekly, seminar weekly.
R. Tahir
Economics 3010H wi (Sc)
Intermediate macroeconomic theory II
A study of the monetary theory and financial markets, as they relate to the performance of the aggregate economy and affect the design, implementation and impact of monetary policy in Canadian and international contexts.
Prerequisite: Economics 2010H. (Excludes Economics 201).
Two lecture hours weekly.
Z. Kayani
Economics 3020H fa
Financial economics.
An introduction to the economic analysis of investment decisions and financial markets. Key concepts include present-value formula, market efficiency, portfolio choice, risk, arbitrage, and asymmetric information.
Prerequisites: Economics 1010H, 1020H.
Two lecture hours weekly, seminar fortnightly.
Z. Kayani
Economics 3110H fa (Sc)
International trade.
Theories of world trade and the analysis of trade policy and trade relationships in the world economy. The theory and practice of protectionism and preferential trade arrangements. The political economy of trade policy. The role and performance of international organizations. Environmental aspects of trade. International labour standards and trade.
Prerequisite: Economics 1010H, 1020H.
Three hours weekly. (Support course for International Development Studies).
B. Lew
Economics 3120H wi (Sc)
International finance.
The operation of international money and capital markets and theoretical and policy aspects of exchange rates and the balance of payments. Macroeconomic management of domestic open economies. The evolution, management and reform of the international financial system.
Prerequisite: Economics 1010H, 1020H.
Three hours weekly. (Support course for International Development Studies).
Z. Kayani
Economics 3160H fa (Sc)
Public economics.
Efficiency criteria will be emphasized in the analysis of public goods, voting behaviour, externalities, natural monopolies, cost-benefit analysis, economic impact analysis, intergovernmental grants, structure and growth of government expenditures in Canada.
Prerequisite: Economics 1010H, 1020H.
Two lecture hours weekly, seminar as required.
S. Choudhry
Economics 3200H fa (Sc)
Econometrics.
The objective of this course is to provide an elementary but comprehensive introduction to econometrics. Simple and multiple regression; regression diagnostics; problems with testing economic relationships are all introduced within the classical regression framework.
Prerequisite: Economics-Administration 2250H, 2200H (or equivalents).
Pre- and co-requisites: Economics 2000H, 2010H, or permission of the instructor.
Three lecture hours weekly.
B. Cater
Economics 3210H (Sc)
Applied econometrics.
This course integrates economic theory, econometric technique and practical applications in empirical economics. The emphasis in this course is on the issues which arise in building empirical models. Students will gain practical skill in the development of empirical models of the economy.
Prerequisites: Economics 3200H.
Three lecture hours weekly. (Not offered in 2010-2011)
Staff
Economics 3250H fa (Sc)
Mathematical economics and economic models.
A continuation of Economics-Administration 2250H. Mathematical techniques used to set and solve problems. Topics include differentiation, comparative static analysis under equilibrium models, unconstrained optimization, classical programming, concavity, convexity, quasi-concavity and quasi-nvexity, homogeneous functions, integral calculus, exponential and logarithmic functions. Economic applications will be stressed throughout.
Prerequisite: Economics-Administration 2250H, 2200H (or equivalents).
Pre- and co-requisites: Economics 2000H, 2010H, or permission of the instructor.
Three lecture hours weekly.
M. Arvin
Economics-Comparative Development 3310H fa (Sc)
The economics of developing countries.
Alternative models of growth and development, examination of sectoral problems of LDCs - agriculture, education, health, environmental issues, etc. Planning strategies for economic development and the diversity of the development experience. (Excludes Economics 330H, ECON/IDST 231H)
Prerequisite: Economics 1010H, 1020H.
Three lecture hours weekly.
S. Choudhry
Economics-Comparative Development 3330H wi (Sc)
The economics of global interdependence.
The world economy and the place of less developed nations in an increasingly interdependent global system. Topics include rethinking development: a market-friendly strategy for the poor; the growing literature on foreign aid,debt and development; and increasing interdependence in areas such as technology and financial flows.
Prerequisite: Economics 1010H, 1020H.
Three lecture hours weekly.
S. Choudhry
Economics 3400H
Managerial economics.
A study of the various ways in which microeconomic principles and quantitative tools can be used to aid managers in making sound decisions. Topics include forecasting consumer demand, production and cost analysis, optimal pricing and production decisions, optimal hiring and investment decisions, and capital budgeting.
Prerequisite: Economics 1010H, 1020H.
Two hours weekly.
J. Muldoon
Economics 3410H wi
Industrial organization.
Study of markets including perfect competition, monopoly, and imperfect competition. Special topics include product differentiation, collusion, measures of market concentration, mergers and vertical integration, predatory pricing, entry deterrence, advertising, vertical restraints, and antitrust policies.
Prerequisite: Economics 2000H.
Pre- and co-requisites: Economics-Administration 2250H or equivalent.
Two lecture hours weekly, seminar fortnightly. (Not offered in 2010-2011)
R. Turner
Economics 3500H wi
Economics of industrial relations.
Employer-employee relations; human resource management; theory and practice of collective bargaining; strikes; economic aspects of unions; economics of labour policy.
Prerequisite: Economics 1010H, 1020H.
Three hours weekly. (Not offered in 2010-2011).
S. Smith
Economics 3510H wi (Sc)
Labour economics.
The economic theory of labour markets used to understand their outcomes and evaluate policies. Topics include wage determination, minimum wages, human capital theory, returns to schooling, optimal compensation and unemployment.
Prerequisites: Economics 1010H, 1020H, 2000H.
Two lecture hours weekly, tutorial fortnightly. (Not offered in 2010-2011)
T. Drewes
Economics 3610H
An economic history of the industrial revolution.
Economic and quantitative analyses of European industrialization with special emphasis on the British experience. Topics include the origins of factories, technical change, worker-firm relations, the standard of living debate, and the decline of British industry.
Prerequisite: Economics 1010H, 1020H.
Two lecture hours weekly, seminar fortnightly. (Not offered in 2010-2011)
Staff
Economics 3620H
Growth of the global economy, 1850 to present.
The process of the industrialization and globalization of the world economy. Topics include the classic gold standard and international investment, the expansion of trade, labour migration, the diffusion of technology, core-periphery relations, the retreat from globalization after World War 1, growth after 1945, rise of global institutions.
Prerequisite: Economics 1010H, 1020H.
Three hours weekly.
Z. Kayani
Economics-Environmental and Resource Studies 3810H fa (Sc)
Environmental economics.
This course examines the links between economic activity and environmental degradation. Topics include the valuation of environmental amenities, the use of incentives in regulation, the economic and environmental effects of market failure and the rationale for government intervention.
Prerequisite: Economics 1010H, 1020H or permission of instructor.
Three lecture hours weekly.
R. Turner
Economics-Canadian Studies 3840H
Health economics.
Economic analysis of the organization, financing and utilization of health services. Patterns of consumer and provider behaviour; the functioning and regulation of markets for health services; policy issues in the provision of health care in Canada.
Prerequisite: Economics 1010H, 1020H or permission of instructor.
One-hour lecture, two-hour seminar weekly. (Not offered in 2011-2012)
J. Muldoon
Economics 3980H
Special Topics in economics analysis and policy: International monetary relations
The evolution of international monetary relations through four historical periods: the classical gold standard, the inter-war period, the Bretton woods system and era of flexile exchange rates. Particular emphasis on the balance of payments adjustment mechanism and distribution of the adjustment burden, the globalization of capital markets and effects on developing countries. Prerequisite: Econ 101h, 102h, 312h.
Three-hour seminar weekly. (Not offered in 2010-2011)
Staff
Economics 4000H wi (Sc)
Topics in advanced microeconomic theory.
Development of utility theory from axiomatic preference theory, the structure of utility functions; duality in consumer theory; decision-making under uncertainty; general equilibrium models; welfare economics; game theory.
Prerequisites: Economics 2000H, Economics-Administration 2250H, 2200H (or equivalents).
Three lecture hours weekly.
S. Kivinen
Economics 4010Y (Sc)
Research project.
This course is designed to help students develop independent research skills by working on a topic of individual interest, under the close supervision of a faculty adviser.
Prerequisite: Open only to single or joint economics majors in the fourth year of the Honours program provided specific departmental criteria are met. Students must consult with the department prior to registration. Department approval required.
Staff
Economics 4040Y (Sc)
Research methodology in economics
This course is designed to develop students' abilities to conduct empirical research in economics. Each year a topical area of interest will be selected that will provide students with skills in assessing available literature, conducting empirical research, and reporting the resulting economic analysis in the form of a major paper. Open only to students who have earned at least 15 credits.
Prerequisite: Economics-Administration 2200H, Economics-Administration 2250H (or equivalents), Economics 2000H, Economics 2010H. Excludes Economics 402H and Economics 403H.
Three seminar hours weekly.
T. Drewes, B. Lew, B. Cater
Economics 4050H wi (Sc)
Topics in advanced macroeconomics.
A study of selected topics and issues including: growth theory, output and inflation models, business cycles and fluctuations, and alternative approaches to monetary and fiscal policy design and implementation.
Prerequisites: Economics 2010H, Economics-Administration 2250H, Economics-Administration 2200H (or equivalents).
Two lecture hours weekly, seminar weekly
Z. Kayani
Economics 4200H wi (Sc)
Topics in econometrics.
This course examines theory and practice in the estimation and testing of economic models with an emphasis on alternatives to simple regression, as they relate to particular economic and statistical issues in an applied setting. Students gain experience in evaluating and refining empirical models of the economy.
Prerequisites: Economics 3200H or permission of instructor.
Two lectures hours weekly, seminar fortnightly.
B. Cater
Economics 4250H wi (Sc)
Advanced topics in mathematical economics.
A continuation of Economics 3250H. Advanced mathematical techniques of direct relevance and operational significance to economics. Topics include classical and nonlinear programming, comparative static analysis, differential equations, dynamic optimization, optimal control theory, phase diagrams, dynamic stability/instability in systems, economics of risk and uncertainty.
Prerequisite: Economics 3250H or permission of the instructor.
Two lecture hours weekly, seminar fortnightly.
M. Arvin
Economics 4950H (Sc)
Special topics in macroeconomics.
Research seminar on monetary policy, fiscal policy and macroeconomic performance. Students write and present empirical research on aspects of recent Canadian macroeconomic experience and policy. Students will discuss recent macroeconomic models, select research topics, formulate proposals, and present research results in seminars.
Prerequisite:Economics 2010H, Economics - Administration 2250H, Economics - Administration 2200H (or equivalents)
Three-hour seminar weekly. (Not offered in 2010-2011)
Staff
