Department of Economics
(Faculty of Public Affairs)
Economics (ECON) Courses
Introduction to Economics
An introduction to the major tools and policy problems of economics. Economic analysis is applied to a variety of contemporary problems such as pollution, poverty, the control of monopoly, unemployment, inflation, and international economic problems.
Lectures three hours a week, discussion groups one hour a week.
Introduction to Microeconomics
An introduction to the major tools and policy problems of microeconomics. Economic analysis is applied to a variety of contemporary issues such as taxation, pollution, wage determination, poverty, market power, and international trade.
Lectures three hours a week, discussion groups one hour a week.
Introduction to Macroeconomics
An introduction to the major tools and policy problems of macroeconomics. Economic analysis is applied to a variety of contemporary problems such as: saving, investment and interest rates; unemployment; money and inflation; exchange rates; fiscal and monetary policy.
Lectures three hours a week, discussion groups one hour a week.
Elementary Mathematics for Economics I
Elementary mathematical tools required for economic analysis: Topics include linear and non-linear functions (cost, revenue, profit, demand and supply), matrices, and mathematics of finance and growth, graphing economic magnitudes, applied algebra, solving systems of linear equations. In class participation in solving practice problems is emphasized.
Prerequisite(s): Ontario Grade-12 U Advanced Functions, or MATH 0005, or equivalent; and ECON 1001 or ECON 1000 or FYSM 1003, which may be taken concurrently with ECON 1401.
Lectures three hours a week, tutorials one hour a week.
Elementary Mathematics for Economics II
Elementary methods of calculus for economic analysis: Topics include derivatives of univariate functions, partial derivatives of multivariate functions, concavity and convexity, elasticity, and optimization (profit and utility maximization and cost minimization subject to a budget constraint). In class participation in solving practice problems is emphasized.
Prerequisite(s): ECON 1001 or ECON 1000 or FYSM 1003 with a grade of C- or higher, and ECON 1401 or MATH 1401 with a grade of C- or higher.
Lectures three hours a week, tutorials one hour a week.
Intermediate Microeconomics for Non-Mathematical Majors
The main topics in microeconomic theory presented in a relatively non-technical manner (e.g., without requiring the knowledge of calculus) with illustrations of their applications. Not open to students in any Economics, B.Com., B.C.S., B.Eng., B.I.D., B.I.B., B.Math., or B.Sc. program.
Prerequisite(s): ECON 1001 or ECON 1000 or FYSM 1003, or permission of the Department.
Lectures three hours a week.
Managerial Economics
An economic analysis of managerial decision-making. Elements of production and cost; price and output determination under perfectly and imperfectly competitive market structures; the role of information; topics in business strategy; and the impact of government intervention. Not open to students in any Economics program.
Prerequisite(s): ECON 1001 or ECON 1000 or FYSM 1003 with a grade of C- or higher; MATH 1009 (or equivalent) with a grade of C- or higher.
Lectures three hours a week, tutorials one and half hours a week.
Intermediate Microeconomics I: Producers and Market Structure
Theory of the firm: elements of production and cost; input allocation, pricing, and firm behaviour under perfectly and imperfectly competitive market structures; the role of information; game theory and public policy, including basic competition policy.
Prerequisite(s): ECON 1001 or ECON 1000 or FYSM 1003 with a grade of C- or higher; ECON 1401/MATH 1401 (with a grade of C- or higher) and ECON 1402/MATH 1402, or equivalent department-approved MATH course pair. May be taken concurrently with ECON 1402/MATH 1402.
Lectures three hours a week, tutorials one and a half hours a week.
Intermediate Microeconomics II: Consumers and General Equilibrium
Theory of consumer choice and demand; applications to intertemporal choice, labour supply, and/or choice under uncertainty; welfare analysis; general equilibrium theory; externalities and the role of government.
Prerequisite(s): ECON 2020 with a grade of C- or higher or ECON 2009 with a grade of C+ or higher, and ECON 1401/MATH 1401 and ECON 1402/MATH 1402 with a grade of C- or higher, or equivalent department-approved MATH course pair with a grade of C- or higher in each.
Lectures three hours a week, tutorials one and a half hours a week.
Intermediate Macroeconomics for Non-Mathematical Majors
The main topics in macroeconomic theory presented in a relatively non-technical manner (e.g., without requiring the knowledge of calculus) with illustrations of their application. Not open to students in any Economics, B.C.S., B.Eng., B.I.D., B.Math., or B.Sc. program.
Prerequisite(s): ECON 1002 or ECON 1000 or FYSM 1003, or permission of the Department.
Lectures three hours a week.
Intermediate Macroeconomics I
An introduction to the macroeconomic modeling of output in the short and long run, and to fixed-price models of the closed and open economy over the business cycle. Policy prescriptions in relation to the business cycle are analysed.
Prerequisite(s): ECON 1002 or ECON 1000 or FYSM 1003 with a grade of C- or higher; ECON 1401/MATH 1401 (with a grade of C- or higher) and ECON 1402/MATH 1402, or equivalent department-approved MATH course pair. May be taken concurrently with ECON 1402/MATH 1402.
Lectures three hours a week, tutorials one and a half hours a week.
Intermediate Macroeconomics II
An extension of macroeconomic modeling to the dynamics of wage-price adjustment in the intermediate and long run, to the theoretical foundations of basic macroeconomic relationships, and to contemporary policy issues arising in relation to the business cycle and long-run growth.
Prerequisite(s): ECON 2102 with a grade of C- or higher, ECON 1001 with a grade of C- or higher, and ECON 1401/MATH 1401 and ECON 1402/MATH 1402 with a grade of C- or higher, or equivalent department-approved MATH course pair with a grade of C- or higher in each.
Lectures three hours a week, tutorials one and a half hours a week.
Introductory Statistics for Economics
Basic statistical methods for the study of economics. Topics include descriptive statistics, elementary probability theory, sampling distributions, estimation and hypothesis testing for one and two population parameters.
Prerequisite(s): ECON 1401/MATH 1401 (with a grade of C- or higher) and ECON 1402/MATH 1402, or equivalent department-approved MATH course pair. May be taken concurrently with ECON 1402/MATH 1402.
Lectures three hours a week, tutorials one and a half hours a week.
Introductory Econometrics
Topics include correlation, simple and multiple linear regression, and an introduction to statistical computing using an econometrics package. Emphasis on understanding appropriate methods and their properties, as distinct from their formal theoretical development. Empirical applications.
Prerequisite(s): ECON 2210 (or equivalent) with a grade of C- or higher, and ECON 1402 (or equivalent) with a grade of C- or higher.
Lectures three hours a week, tutorials one and a half hours a week.
Applied Data Analysis
An introduction to concepts and tools for using various forms of data to study applied economic problems. Topics may include identifying relevant datasets, collecting and cleaning both research-ready and user-assembled data sets, data visualization, and summary statistics.
Prerequisite(s): COMP 1005 or COMP 1405 or ECOR 1606, or equivalent, with a grade of C- or higher; and ECON/MATH 1402, with a grade of C- or higher (or an equivalent department-approved MATH course pair with a grade of C- or higher in each); and ECON 2210 (or equivalent), with a grade of C+ or higher.
Lectures three hours a week, tutorial 1.5 hours a week.
Mathematical Methods of Economics
Constrained optimization via Lagrange and Kuhn-Tucker conditions; implicit functions and implicit differentiation; comparative static methods applied to models such as utility maximization and least-cost production; homogeneous functions; concave and convex functions; compounding and exponential functions; economic models involving integration; differential equations.
Prerequisite(s): ECON 1001 or ECON 1000 or FYSM 1003 with a grade of C- or higher; and ECON 1401 and ECON 1402 (or equivalent) with a grade of C- or higher in each and a combined grade point average in ECON 1401 and ECON 1402 of 6.50 or higher.
Lectures three hours a week, tutorials one and a half hours a week.
Introduction to Financial Economics
The major theories and basic tools used to address modern financial economic issues. Topics may include time value of money, bond and stock valuation, investment criteria, capital budgeting, the risk-return tradeoff, options and option valuation, cost of capital, and the fundamentals of international corporate finance.
Prerequisite(s): ECON 1001 and ECON 1002 each with a grade of C- or higher, or ECON 1000 or FYSM 1003 with a grade of C- or higher, ECON 1401/MATH 1401 and ECON 1402/MATH 1402, or equivalent department-approved MATH course pair with a grade of C- or higher in each, and BUSI 1002 or BUSI 1005 with a grade of C- or higher in each.
Lectures three hours a week.
Economic Thought and Policy in Canada
An account of the interrelationship between economic theories expounded in Canada and their issue in national policy.
Prerequisite(s): an introductory course in one of the social sciences or Canadian history.
Lectures three hours a week.
Canadian Economic History
A survey of Canadian economic history from the sixteenth century to the present.
Precludes additional credit for ECON 2305 or HIST 2305 (no longer offered), ECON 3203 (no longer offered), ECON 3202 or HIST 3203 (no longer offered), and ECON 3207 or HIST 3204 (no longer offered).
Prerequisite(s): ECON 1001 and ECON 1002, or ECON 1000 or FYSM 1003.
Lectures three hours a week.
Selected Topics in Economic History
An examination of the economic development of North America or Europe or other possible selected sets of countries. Countries examined vary from year to year.
Precludes additional credit for ECON 3005 (no longer offered).
Prerequisite(s): ECON 1001 and ECON 1002, or ECON 1000 or FYSM 1003, or permission of the Department.
Lectures three hours a week.
Public Policy Toward Business
The interaction of government and business in the Canadian economy. Reasons for government involvement in selected public policy areas. Topics covered may include competition policy, regulation of firms by boards and commissions, environmental regulation, and public enterprise.
Introduction to Labour Economics
Basic principles of labour economics including market, institutional, and sociological forces. Technology and labour demand, wage systems, human capital, internal wage structure, market discrimination, female labour-force entry, wage-price spiral, household labour supply, and wage determination.
Prerequisite(s): ECON 1001 and ECON 1002, or ECON 1000 or FYSM 1003.
Lectures three hours a week.
Introduction to Industrial Relations
An introduction to industrial relations covering such topics as: industrial relations systems, the functioning of trade unions, collective bargaining in Canada, and Canadian public policy in industrial relations.
Prerequisite(s): ECON 1001 and ECON 1002, or ECON 1000 or FYSM 1003.
Lectures three hours a week.
The Economics of Migration
An introduction to the economic aspects of migration. Topics include, among others: the economics of migration within countries; the economics of host country integration of immigrants; the impact of immigration on outcomes in the host country; the impacts of emigration on the home country.
The Economics of Gender and Ethnicity
The impact of gender and ethnicity on labour-market outcomes. Topics may include: employment, work, earnings, and poverty; discrimination and policy responses; immigration; the economics of the household; gender and development; micro-credit; labour standards.
Prerequisite(s): ECON 1001 or ECON 1000 or FYSM 1003.
Lectures three hours a week.
Introduction to Public Economics: Expenditures
The role and nature of the government sector in the economy, the theory of public goods, the equity and efficiency effects of public expenditures, voting rules and fiscal politics, techniques of public expenditure analysis, and intergovernmental fiscal relations.
Prerequisite(s): ECON 1001 and ECON 1002 or ECON 1000 or FYSM 1003.
Lectures three hours a week.
Introduction to Public Economics: Taxation
The role and nature of the government sector in the economy, principles of taxation, tax equity, incidence and excess burden of taxes, structure of taxes in the economy, role of personal, corporate, sales and wealth taxes, fiscal stabilization policy, and the economics of public debt.
Prerequisite(s): ECON 1001 or ECON 1000 or FYSM 1003.
Lectures three hours a week.
Economic Theories of Federalism
Economic dimensions of federalism, with reference to Canadian experience. Issues include: fiscal federalism; impact of federal economic policies on provincial economies; decentralization possibilities for fiscal and economic development policies; and consequences of policies such as provincial trade barriers and impediments to factor flows.
Prerequisite(s): ECON 1001 or ECON 1000 or FYSM 1003.
Lectures three hours a week.
Political Economy in the Modern State
An examination of the role of government in the economy, with emphasis on alternate forms of social coordination and the advantages and disadvantages of each form in the Canadian system.
Prerequisite(s): ECON 1001 and ECON 1002, or ECON 1000 or FYSM 1003.
Lectures three hours a week.
Introduction to Health Economics
Health as an economic good: demand and need; supply and cost. Public health and personal health care. Alternative health-care delivery systems: financing, performance, quality, and cost effectiveness.
Prerequisite(s): ECON 1001 or ECON 1000 or FYSM 1003.
Lectures three hours a week.
Introduction to Economic Development
A discussion of the principles of economic development. Application to the problems of the developing countries.
Prerequisite(s): ECON 1001 or ECON 1000 or FYSM 1003.
Lectures three hours a week.
Development Planning and Project Evaluation
An introduction to the tools used in the planning and evaluation of development projects. Topics include the theory, application, strengths and limitations of cost-benefit analysis and competing approaches, and an examination of project evaluation techniques.
Prerequisite(s): ECON 1001 or ECON 1000 or FYSM 1003.
Lectures three hours a week.
African Economic Development
Domestic and international aspects of development problems and policies in the African context. Topics may include human resource development, growth and poverty reduction, domestic resource mobilization, the implications of ethnic diversity, governance, and institutions, and issues of trade, investment, aid, migration, and health.
Introduction to International Economics
A discussion of theory and policy in international trade and finance. Intended for students planning to take only 0.5 credit in international economics at the 3000-level.
Prerequisite(s): ECON 1001 and ECON 1002, or ECON 1000 or FYSM 1003, or permission of the Department.
Lectures three hours a week.
Introduction to International Trade
An extension of the basic principles of economics to international trade. Topics covered include the theory of international specialization, tariffs and other barriers to trade, trade liberalization and economic integration, international movements of labour and capital, trade and development.
Prerequisite(s): ECON 1001 or ECON 1000 or FYSM 1003.
Lectures three hours a week.
International Monetary Problems
A discussion of the theory and institutions of the international monetary system, and the related balance of payments problems of nation states.
Prerequisite(s): ECON 1001 and ECON 1002, or ECON 1000 or FYSM 1003.
Lectures three hours a week.
Monetary and Financial Institutions
The behaviour of financial intermediaries and institutions such as the Bank of Canada, banks and trust companies, and regulatory bodies such as the Canada Deposit Insurance Corporation and the Superintendent of Financial Institutions.
Applied Econometrics
Introduction to applied econometric methods with emphasis on the use of the regression model for empirical research. Real-world examples are used extensively to illustrate key concepts. Hands-on computer exercises are an integral part of the course.
Prerequisite(s): ECON 1001 and ECON 1002, or ECON 1000 or FYSM 1003, ECON 2210 (or equivalent) with a grade of C- or higher, and ECON 2220 (or equivalent) with a grade of C+ or higher.
Lectures three hours a week, tutorials one and a half hours a week.
Regional Economics
Unequal distribution of economic activity between spatially defined regions. The pattern in Canada since World War II and the outlook for the future is evaluated, considering "natural" adjustment mechanisms and policy tools.
Prerequisite(s): ECON 1001 and ECON 1002, or ECON 1000 or FYSM 1003.
Lectures three hours a week.
The Economics of Natural Resources
The application of economic analysis to questions concerning natural-resource use, management and conservation, as well as market failures and environmental effects. Policy problems relating to natural resources are discussed.
Prerequisite(s): ECON 1001 or ECON 1000 or FYSM 1003.
Lectures three hours a week.
Environmental Economics
Microeconomic analysis of environmental issues. Frameworks for measuring environmental costs and benefits. The efficiency of alternative pollution control policies. Applications include air and water pollution and global environmental problems such as ozone depletion and global warming.
Prerequisite(s): ECON 1001 or ECON 1000 or FYSM 1003.
Lectures three hours a week.
European Economic Integration
A discussion of the theories of free trade areas and customs, monetary, and economic unions, and the related historical experience of Europe. Topics include: currency area and the euro, coordination of fiscal policy and the EU budget, common agricultural policy, labour mobility, and regional policy.
The Economics of Transition
The transition from state ownership and central planning to mixed ownership structure with resource allocation by market mechanisms. “Classical socialism” is criticized and the processes of transition in countries of Central and Eastern Europe, the former Soviet Union, and Asia are compared.
Prerequisite(s): ECON 1001 or ECON 1000 or FYSM 1003.
Lectures three hours a week.
Topics in Canadian Economic Policy
Economic analysis applied to selected policy areas, issues or institutions. One or more of the following topics may be dealt with: decision-making by bureaucratic institutions, policy problems arising from poverty, the economics of natural resources and pollution, urban economics.
Prerequisite(s): ECON 1001 and ECON 1002, or ECON 1000 or FYSM 1003.
Lectures three hours a week.
An Economic Analysis of Law
An introduction to the application of economic principles and methodology to a variety of legal problems with emphasis on the theory of property rights and the allocation of resources.
Prerequisite(s): ECON 1001 or ECON 1000 or FYSM 1003.
Lectures three hours a week.
Economics of Information and the Media
An introduction to the economics of information and the media, with a focus on the analysis of production and distribution of information, the application of theory to selected communications-media industries in Canada, and the analysis of existing Canadian policies.
Prerequisite(s): ECON 1001 or ECON 1000 or FYSM 1003.
Lectures three hours a week.
Housing Economics
Examination of housing markets, housing finance, and government housing policy using the tools of microeconomics. Models of demand, supply, and market equilibrium emphasizing the special characteristics of housing, including heterogeneity, durability, and spatial fixity. Relationships to other goods and markets and the wider macroeconomy.
Agricultural Economics
An examination of the agricultural industry in the national economy and in low-income societies, with emphasis on the working out of the basic forces that determine supply and demand for the industry, and the functional distribution of income among the factors of production.
Prerequisite(s): ECON 1001 or ECON 1000 or FYSM 1003.
Lectures three hours a week.
Transportation Economics
Factors affecting demand for and supply of transportation services; demand elasticities and cost structures of various modes of transport; transportation service pricing. Topics may include transport demand forecasting, transportation investment and project appraisal, and the role of transport in economic development.
Comparative Economic Systems
Analysis of the structure, institutions, and performance of alternative economic systems, including capitalism, socialism, and communism. Selected countries are studied as examples of these systems.
Prerequisite(s): ECON 1001 or ECON 1000 or FYSM 1003.
Lectures three hours a week.
Contemporary Economic Issues
Content may vary from year to year and is announced in advance of the registration period.
Special Studies in Economics
Content may vary from year to year and is announced in advance of the registration period.
Prerequisite(s): ECON 1001 and ECON 1002, or ECON 1000 or FYSM 1003.
Lectures and/or seminars three hours a week.
Research Methods in Economics
The process of doing basic research in economics: development of the research proposal, finding and critically evaluating relevant literature, model development, methods for locating and collecting economic data, analytical methods, and writing mechanics. This course has a strong practical focus.
Prerequisite(s): ECON 2030 with a grade of C+ or higher, ECON 2103 with a grade of C+ or higher, ECON 2210 (or equivalent) with a grade of C- or higher, and ECON 2220 (or equivalent) with a grade of C+ or higher.
Seminars three hours a week.
Professional Practice of Economics
Development of skills used by professional economists, including writing professional documents such as policy briefs and memos, data visualization, communication of economic ideas in non-technical terms, presentation skills, and team-based problem solving.
Prerequisite(s): ECON 2030 with a grade of C+ or higher, ECON 2103 with a grade of C+ or higher, ECON 2210 (or equivalent) with a grade of C- or higher, and ECON 2220 (or equivalent) with a grade of C+ or higher.
Seminars three hours a week.
Co-operative Work Term
Graded Sat/Uns.
Prerequisite(s): registration in the Honours Economics or Applied Economics Co-operative Education option, satisfactory completion of the Co-op preparation classes offered by the Co-operative Education Office, and permission of the Department.
Mathematical Analysis in Economics
Analysis and algebra: set theory, sequences and series, quadratic forms, separation and fixed-point theorems. Static optimization: the Weierstrass, Lagrange, and Kuhn-Tucker theorems; convexity and quasi-convexity; the envelope theorem. Dynamic optimization: the Maximum Principle and Bellman's equation. Applications of these tools to economic theory.
Lectures three hours a week, tutorials one and a half hours a week.
Statistical Analysis in Economics
Probability: including conditional probability, random variables and distributions, unconditional and conditional expectations. Distributions: including special distributions and their properties, and sampling distributions of estimators. Nonparametric methods and limit theorems; stochastic processes; simulation and bootstrap methods. Applications of these tools to economic theory.
Prerequisite(s): ECON 2210 (or equivalent) with a grade of C+ or higher, and ECON 2220 (or equivalent) with a grade of C+ or higher.
Lectures three hours a week, tutorials one and a half hours a week.
Operations Research I
Linear programming, duality, sensitivity analysis, transportation and network problems. Both theory and a wide range of applications are studied.
Prerequisite(s): ECON 1402 (or equivalent) with a grade of C- or higher.
Lectures three hours a week.
Operations Research II
Dynamic programming, inventory models, queuing, simulation, and non-linear programming.
Lectures three hours a week.
Advanced Microeconomic Theory
Advanced theory of individual economic behaviour in production, consumption, and general equilibrium. Elementary tools of mathematics are employed in the exposition of most topics.
Prerequisite(s): ECON 2020 (or ECON 2009) and ECON 2030 each with a grade of C+ or higher; ECON 3001 (or MATH 2000 or MATH 2004) with a grade of C+ or higher; and ECON 2220 (or equivalent, or STAT 2605 or STAT 3502), which may be taken concurrently with ECON 4020.
Lectures three hours a week, tutorials one and a half hours a week.
Advanced Macroeconomic Theory
An introduction to advanced macroeconomic models. Topics may include analysis of business cycles, inflation, unemployment, economic growth, fiscal and monetary policy, consumption decisions of households, and investment decisions of firms.
Prerequisite(s): ECON 2102 with a grade of C+ or higher; ECON 2103 with a grade of C+ or higher; ECON 3001 (or MATH 2000 or MATH 2004) with a grade of C+ or higher; and ECON 2220 (or equivalent, or STAT 2605 or STAT 3502), which may be taken concurrently with ECON 4021.
Lectures three hours a week, tutorials one and a half hours a week.
Game Theory and Economics
Analysis of strategic behaviour using methods of modern game theory. Topics include extensive-form and strategic-form representation of games, and solution concepts for games of complete and incomplete information such as Nash equilibrium, subgame perfect equilibrium, and perfect Bayesian equilibrium. Economic applications will be presented.
Lectures three hours a week.
Macroeconomic Dynamics
Dynamic models as applied to topics such as economic growth, business cycles, consumption, investment, inflation, and real-financial linkages. Empirical and/or policy issues may also be discussed.
Lectures three hours a week.
Economics of Uncertainty and Information
Uncertainty, imperfect information, and asymmetric information in the allocation of resources and the performance of markets and alternative coordinating mechanisms.
Prerequisite(s): ECON 2030 with a grade of C- or higher or ECON 2003 (no longer offered) with a grade of C- or higher, and ECON 2220 (or equivalent) with a grade of C- or higher.
Lectures three hours a week.
Financial Asset Pricing
Factors that drive security prices and models that attempt to account for aspects of security returns, including the generic arbitrage pricing model, the capital asset pricing model (CAPM), the consumption CAPM, and the intertemporal CAPM.
Prerequisite(s): ECON 3050 with a grade of C- or higher, and ECON 2220 (or equivalent) with a grade of C- or higher.
Lectures three hours a week.
Corporate Financial Economics
Optimization and corporate finance. Corporate governance and managerial compensation. Capital structure and the Modigliani-Miller theorem. Agency theory and asymmetric information. The issue of equity, debt, and other securities. Dividend policy. Investment and capital budgeting, NPV, and real options.
Prerequisite(s): ECON 3050 with a grade of C- or higher, and ECON 2030 with a grade of C- or higher or ECON 2003 (no longer offered) with a grade of C- or higher.
Lectures three hours a week.
Financial Market Modeling
The modeling of the evolution of prices in (near) efficient markets and the evaluation of functions of these prices such as guarantees, options, warrants, futures, and other types of derivatives. Arrow-Debreu state-contingent claims. Notions of complete and incomplete markets.
Prerequisite(s): ECON 2030 with a grade of C- or higher and ECON 3001 with a grade of C- or higher.
Lectures three hours a week.
Insurance Economics
The theory of insurance founded on probability and decision theory. The optimal design of insurance policies from a risk-sharing and an information economics perspective. Principal-agent problems including adverse selection, asymmetric information, and moral hazard with implications for insurance. The interaction between insurance and other markets.
Lectures three hours a week.
Behavioural Financial Economics
Market efficiency and the limits of arbitrage. Heuristics and biases identified by behavioural decision theorists and their effect on the behaviour of managers and investors. Behavioural theories of market trading volume and asset prices. Behavioural approaches to corporate financial economics problems.
Lectures three hours a week.
Behavioural Economics
Major factors underlying economic behaviour, including various views of the role of rationality in economic analyses of individual decision-making and institutional design and a detailed treatment of behavioural heuristics and biases and their implications for nudging techniques that aim to improve economic outcomes.
Experimental Economics
An introduction to the use of and insights gained from both laboratory- and field-type experimental methods in economic research. Topics include analysis of individual rationality, performance of markets, and design of economic systems. In-class experiments are an integral part of the course.
Lectures three hours a week.
Selected Topics in the History of Economic Thought
The development of economic thought through time in relation to selected economic problems.
Prerequisite(s): ECON 2030 with a grade of C+ or higher or ECON 2003 (no longer offered) with a grade of C+ or higher, and ECON 2103 with a grade of C+ or higher.
Also offered at the graduate level, with different requirements, as ECON 5209, for which additional credit is precluded.
Lectures and/or seminars three hours a week.
Economic History
The application of economic theory and quantitative techniques to selected topics in economic history, which may include historical patterns of growth and welfare, nineteenth-century globalization, technological change, the development of agriculture, industrialization, the Great Depression, and the origins of central banks.
Also offered at the graduate level, with different requirements, as ECON 5230, for which additional credit is precluded.
Lectures three hours a week.
Market Structure and Firm Behaviour
Various theoretical and empirical studies of firm and market organization with emphasis on the pricing, advertising, investment and locational behaviour of firms in imperfectly competitive markets.
Prerequisite(s): ECON 2030 with a grade of C- or higher or ECON 2003 (no longer offered) with a grade of C- or higher.
Lectures three hours a week.
Competition and Regulatory Policy
Public policies relating to competition and regulation. Topics may include: Ramsey pricing, peak-load pricing, cross-subsidization, access pricing (ECPR), multi-part pricing and price discrimination, predatory and targeted pricing, vertical restrictions, traditional regulation (including rate-of-return regulation), incentive regulation (including price caps), and the political economy of regulation.
Prerequisite(s): ECON 2030 with a grade of C- or higher or ECON 2003 (no longer offered) with a grade of C- or higher.
Lectures three hours a week.
Applied Industrial Economics
The empirical application of microeconomics, with special emphasis on the Canadian economy. Topics include: consumer demand, firm production and investment, and industrial and trade structure.
Lectures three hours a week.
Labour Economics
The application of price theory to the labour market. Topics include models of labour supply and labour demand, human capital and the economics of education, and unions and their impact on the labour market.
Prerequisite(s): ECON 2030 with a grade of C- or higher, and ECON 2220 (or equivalent) with a grade of C- or higher.
Lectures three hours a week.
Industrial Relations
Economic analysis of selected industrial relations and labour market policy problems. Topics include unionization, strike activity, the economics of occupational health and safety, pension policy, and the impact of new technology on the labour market.
Prerequisite(s): ECON 2030 with a grade of C- or higher or ECON 2003 (no longer offered) with a grade of C- or higher.
Lectures three hours a week.
Public Economics: Expenditures
A discussion of the theory of government expenditures and an examination of empirical attempts to quantify the theory. Examination of current topics such as expenditures and grants in the Canadian federation.
Prerequisite(s): ECON 2030 with a grade of C- or higher or ECON 2003 (no longer offered) with a grade of C- or higher.
Lectures three hours a week.
Public Economics: Taxation
A discussion of the theory of taxation and an examination of empirical attempts to quantify the theory. Some topics of current interest, such as the redistribution of income in Canada and tax reform, are examined.
Prerequisite(s): ECON 2030 with a grade of C- or higher or ECON 2003 (no longer offered) with a grade of C- or higher.
Lectures three hours a week.
Project Evaluation
Techniques and problems in the evaluation of public and private projects. Examination of alternative approaches to public decision-making including cost-benefit analysis, cost-effectiveness analysis, and multiple-objective frameworks. Case studies of projects in various areas such as natural resources, the environment, human resources, public services, and transportation.
Lectures three hours a week.
Health Economics
Economic analysis of the organization, financing, and utilization of health-care services. Topics include supply and demand of health care, the impact of private and social health insurance on demand, and policy issues in the provision of health care in Canada.
Lectures three hours a week.
The Economics of Development
An examination of some theoretical approaches to the economics of development, together with analysis of some economic policy issues of a largely internal character, such as intersectoral investment allocation, income distribution, unemployment, and investment in human development.
Lectures three hours a week.
International Aspects of Economic Development
An analysis of the international economic policy problems of development in Asia, Africa and Latin America, focusing on international trade, direct foreign investment, technological transfer, regional integration, debt and development financing, and international migration.
Lectures three hours a week.
International Trade Theory and Policy
International trade theory and its implications for economic policy. Topics such as determinants of trade and specialization, gains from trade and commercial policy, international factor mobility, growth and development.
Lectures three hours a week.
International Monetary Theory and Policy
International monetary theory and its implications for economic policy. Topics such as sources of disequilibrium and adjustment in the balance of payments under fixed versus flexible exchange rates, international capital movements, and international monetary reform.
Monetary Theory and Policy
The role of money and the monetary system in determining income, employment, and price level; techniques of monetary policy; the relationship between monetary and fiscal policy.
Prerequisite(s): ECON 2103 with a grade of C- or higher, and ECON 2220 (or equivalent) with a grade of C- or higher.
Lectures three hours a week.
Measurement Economics
National accounting and index numbers. Topics may include: the measurement of output and income, capital and depreciation, productivity, employment and unemployment, poverty and inequality, household production, pollution and resource depletion, and the balance of payments; price indexes; standard-of-living indexes; and international comparisons.
Lectures three hours a week.
Econometrics I
An introduction to econometric theory and analysis of the classical normal linear regression model. Topics include estimation methods, hypothesis testing, multicollinearity, indicator variables, heteroscedasticity, and an introduction to time-series methods.
Lectures three hours a week, tutorials one and a half hours a week.
Econometrics II
An extension of ECON 4706. Topics include model specification, diagnostic checks, qualitative and limited dependent variables, panel data, and simultaneous equations models.
Lectures three hours a week.
Economic Data Science - Analytics
An introduction to methods of statistical and machine learning analytics for economic analysis. Tools relevant for both small and large data sets will be covered. Topics may include approaches to classification, dimension reduction strategies, and prediction models and tools.
Prerequisite(s): ECON 2708 with a grade of C+ or higher; and ECON 4706 (or equivalent) with a grade of C+ or higher.
Lectures three hours a week.
Economic Data Science - Applications
Application of data science and machine learning methods to real-world economic problems. Students will apply their data science knowledge in hands-on projects to answer topical research questions. This course has a strong practical focus.
Prerequisite(s): ECON 4708 with a grade of C+ or higher.
Lectures three hours a week.
Time-Series Econometrics
An introduction to the basic concepts and tools of time-series econometrics. Topics include stationary and non-stationary time series, identification, estimation and forecasting, unit root testing, cointegration analysis, error-correction models and ARCH models, together with relevant economic applications.
Prerequisite(s): ECON 4706 with a grade of C- or higher, or STAT 3503 with a grade of C- or higher.
Lectures three hours a week.
Advanced Topics in Applied Econometrics
Advanced coverage of one or more areas of current interest in applied econometrics. An empirical research project may be required.
Precludes additional credit for ECON 4804 (no longer offered).
Prerequisite(s): ECON 4706 with a grade of C+ or higher; and ECON 4707, which may be taken concurrently with ECON 4714.
Lectures three hours a week.
Spatial Economics
Spatial dimensions of economic activity and organization. Theories of urban agglomeration effects, transport costs, forward and backward linkages, and associated spatial dynamics; empirical analysis of spatial economic clusters; effects of globalization and economic growth on the spatial structure of production and the associated policy response.
Lectures three hours a week.
Advanced Economics of Information and Media
The economics of information production, its distribution through broadcasting, publishing or the Internet, its exchange through telephone and e-mail networks, and its use in private and public organizations. An analysis of telecommunications, broadcasting, copyright, privacy, and Internet policy.
Prerequisite(s): ECON 2030 with a grade of C- or higher or ECON 2003 (no longer offered) with a grade of C- or higher.
Lectures three hours a week.
Special Topics in Economics
Advanced topics of interest to upper-year Economics students. Topics may vary from year to year and are announced in advance of the registration period.
Prerequisite(s): ECON 2030 with a grade of C+ or higher; ECON 2103 with a grade of C+ or higher; and ECON 3706 or ECON 4706, which may be taken concurrently with ECON 4880 or may be waived by permission of the Department.
Lectures and/or seminars three hours a week.
Tutorial in Economics
An additional tutorial in economics may be taken subsequent to, or concurrently with, ECON 4890 (no longer offered) or ECON 4901 (no longer offered) or ECON 4902 (no longer offered) or ECON 4905.
Tutorial in Economics
An additional tutorial in economics may be taken subsequent to, or concurrently with, ECON 4890 (no longer offered) or ECON 4901 (no longer offered) or ECON 4902 (no longer offered) or ECON 4905.
Honours Capstone Seminar
The development of individual research projects in suitable economics topic areas with the exchange of results at each stage through in-class discussions and written and oral reports and culminating in a major research paper by each course registrant.
Precludes additional credit for ECON 4890, ECON 4900 (no longer offered), ECON 4901 (no longer offered), and ECON 4902 (no longer offered).
Prerequisite(s): ECON 3900 with a grade of C+ or higher, ECON 3920 with a grade of C+ or higher, and registration in an Honours Economics program.
Seminars three hours a week.
Honours Essay
Students taking Honours in Economics or Applied Economics may write an Honours essay during their final year. This essay counts for one credit. Students work under an individual faculty adviser.
Prerequisite(s): permission of the Department.
Research and Writing in Economics
Development of fundamental research and writing skills pertinent to the discipline of economics. Writing summary reviews of economics texts of increasing sophistication; writing up empirical and/or theoretical results of increasing complexity.
Seminars three hours a week, tutorials one and a half hours a week.
Note: Not all courses listed are offered in a given year. For an up-to-date statement of course offerings for the current session and to determine the term of offering, consult the class schedule at central.carleton.ca.
Summer session: some of the courses listed in this Calendar are offered during the summer. Hours and scheduling for summer session courses will differ significantly from those reported in the fall/winter Calendar. To determine the scheduling and hours for summer session classes, consult the class schedule at central.carleton.ca