ECON 301 Intermediate Microeconomic Theory II
An extension of ECON 201, this course covers price determination in monopoly, monopolistic competition, and oligopoly models. Uncertainty and risk, factor pricing, capital investment over time, externalities, and public goods are discussed. The use of micro-economics as a tool in decision-making is illustrated. Prerequisite: ECON 201.
ECON 302 Intermediate Macroeconomics II
This sequel to ECON 202 explores the new Keynesian and new classical perspectives on the macro economy. Attention is directed to the determinants of investment, consumption, money demand and supply as well as the role of expectations in macro behavior. Questions of unemployment, inflation, interest rates, the government budget, economic growth and macroeconomic policies are examined in their international setting. Prerequisite: ECON 202.
ECON 305 Economic Development I
Starting with an overview of the present state of the world, this course explores economic development strategies and prospects for the Third World. Topics include: the meaning of economic development: past and present theories of growth; alternate approaches to economic development (including the grassroots approach and sustainable development); the role of agriculture and industrialization; and issues pertaining to development planning, markets and the role of governments. Cross-listed as DEVS 305.
ECON 306 Economic Development II
This course covers economic development prospects and experience in the Third World. Topics include: income distribution; population and human resources (including education and health); urbanization, rural-urban migration and the informal economy; labor markets and unemployment; gender and development; savings, taxation and investment; foreign aid and MNCs; the debt problem and structural adjustment; trade and globalization; and the international economic order. Prerequisite: ECON 305. Cross-listed as DEVS 306.
ECON 312 Industrial Organization
This course deals with the behavior of firms in imperfectly competitive markets and with the role of competitions policies. Business practices such as price discrimination, product differentiation, advertising, and investment in research and development will be explained using both traditional models of industrial organization and more recent ones, which emphasize issues of strategic interaction. Real-life illustrations and numerical examples will be used to illustrate the different concepts presented. Prerequisites: ECON 201, 301.
ECON 335 Money, Banking and Financial Markets I
This course uses basic economic principles to organize students' understanding of and thinking about money, the functions and structure of financial markets and financial institutions. Topics covered include: the nature, and the future of money; the determinants of interest rates; the term structure of interest rates; the pricing of government securities; what banks do and how their operations affect the economy.
ECON 336 Money, Banking and Financial Markets II
The course introduces students to the role of imperfect information in financial markets. Topic covered include: asymmetric information and its consequences; the necessity of regulations of financial institutions and the role of domestic regulators and policy makers; comparative analysis of financial system regulations; financial market instabilities and the conduct of monetary policy. The course helps students understand the causes of financial instability and crises, and what policy makers can do to alleviate or avoid them. Prerequisites: ECON 335, ECON 202 is recommended.
ECON 361 Human Resources and Labor Economics
This course analyzes the essential elements of the labour market: labour demand and labour supply, and their interaction to determine wages, employment and unemployment. Topics include fertility, education, wage disparities, income maintenance schemes, wage discrimination, the unemployment insurance program, unions and collective bargaining, and the distribution of wealth. Prerequisite: ECON 201.
ECON 364 Health Economics
The course introduces students to the role of economics in health, health care, and health policy. The course focuses on individual choice pertaining to health, and economic evaluation of various methods of health care delivery. Students will learn how the market for health care differs from other markets, especially with regards to uncertainty and asymmetric information, and understand health insurance markets and their interrelationship with the market for health care services, as well as the role of the government. Prerequisite ECON 201.
ECON 365 International Trade
Covers the theory of international trade and its policy implications, including: comparative advantage; gains from trade; terms of trade; trade and growth; trade and economic development; commercial policy (tariff and non-tariff barriers, effective protection, trade liberalization); economic integration (with emphasis of NAFTA and the EC); migration and trade in service; and intellectual property and rights. Prerequisite: ECON 201.
ECON 366 International Payments and Finance
Covers the theory and policy implications of international payments and finance. Topics include: the exchange rate and foreign exchange market; balance of payments problems and policies; fixed versus flexible exchange rate regimes and common currency areas; the Eurocurrency market; open economy macro-economics; international finance, financial liberalization and globalization; capital flows and multinational corporations; and the international monetary system. Prerequisites: ECON 201, 202.
ECON 371 Econometrics I
This course develops the simple and multiple classical regression models, interval estimation and hypothesis testing. The problems of estimation, inference, mis-specified structures, multicollinearity, heteroskedasticity and serial correlation are presented. Students will be exposed to STATA or other relevant econometric software. The course requires some proficiency in calculus and basic statistics. Prerequisites: MATH 106, 107 or ECON 271; STAT 201 or 231 or permission of the instructor.
ECON 372 Econometrics II
This course is a continuation of ECON 371 and deals with various estimation methods, including least squares and maximum likelihood, specification tests, dynamic models and simultaneous equation models as well as limited and qualitative dependent variables. Students will be exposed to Matlab or other matrix-based analytical software. Prerequisite: ECON 371.
ECON 381 Natural Resource Economics
Examines the role of natural resource industries in the Canadian and world economies, including minerals, fossil fuels, forest resources, fisheries and endangered species, and water resources. The course introduces students to the use of economic tools in analyzing problems of renewable and nonrenewable resource management. Topics include: welfare and inter-temporal analysis of resource exploitation; ownership and property rights issues in resource use and management; the nature of resource markets; biodiversity conservation and sustainability. Prerequisites: ECON 201; MATH 106.
ECON 391 Public Finance I: Expenditures
An analysis of the role of government in the economy, focusing on expenditure and with emphasis on the Canadian situation. Starting with an introduction to the public sector, the course covers: the rationale for government participation in the economy; the growth of the public sector over time; the theory of collective decision-making; cost-benefit analysis; fiscal federalism; specific spending programs. Prerequisite: ECON 201.
ECON 392 Public Finance II: Taxation
An analysis of the role of government in the economy, focusing on revenue and emphasis on the Canadian situation. Starting with introduction to taxation and tax policy, the course covers: individual income taxes; corporation taxes; consumption; value-added and sales taxes; property and other taxes; tax reform; the revenue side of fiscal federalism; and the international dimensions of taxation and taxation policies. Prerequisite: ECON 201.