First-Year Economics Courses

ECON 1010H – Introductory microeconomics
ECON 1020H – Introductory macroeconomics

ECON 1010H – 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.
This is an introductory course in microeconomics. Its objective is to provide a student with a basic understanding of what microeconomics is all about, and with basic tools to solve simple microeconomic problems. Although reference will be made to the real world the emphasis of this course is to familiarize the first year student with the methodology and terminology used in microeconomics as well as to get him/her to understand the fundamental concepts in microeconomics. Simple algebra and graphs will be used to illustrate concepts.

COURSE TEXT

Curtis D., Irvine I., and D. Begg, Microeconomics, Canadian Edition, 2007, McGraw-Hill Ryerson.

TOPICS

Applications of Supply and Demand
Consumers and Producers
Market Structures
Factor Markets

ECON 1020H – 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.

This is a lecture-based course, with additional tutorials, introducing the basic concepts of macroeconomics. The course focuses on three issues: the business cycle, unemployment and price-level stability. To understand these issues, a simple model of the macroeconomy is developed. With this model, the operation of policies available to help steer the economy—fiscal and monetary policy—are studied. Examples drawn from recent and long-run Canadian experience are used to illustrate. As these fundamentals are discussed, the course explores the big questions in economics: why focus on economic growth? what is the appropriate role of government in a modern economy? how likely is a repeat of the Great Depression?

COURSE TEXT

Doug Curtis, Ian Irvine and David Begg, Macroeconomics, Second Canadian Edition. Toronto: McGraw-Hill Ryerson, 2010.

TOPICS

Introduction to macroeconomic aspects of the economy
Measuring macroeconomic activity and performance
The simplest short-run macroeconomic model
Extending the short-run macroeconomic model
Money, banking and the money supply
Financial markets and economic activity
Central banking and monetary policy
Monetary policy and fiscal policy in the short-run
Aggregate supply, inflation, and adjustment to shocks
Exchange rate policy and monetary policy

For More Information

Course notes, assignments, and other details are available to enrolled students via myTrent >> learning system. For more information regarding these course offerings or if you have any other questions, please contact the Economics department.