Download ECON

2017 – 2018 Calendar Proof
Economics
ECON1013
Principles of Microeconomics
3 ch (3C)
Economics studies the way individuals and groups make choices, how those choices are
affected by incentives, and whether the resulting social arrangements can be improved by
government intervention. Economics divides itself into two halves: micro and macro.
Microeconomics focuses on smaller chunks of reality than macroeconomics. It focuses on
individuals, firms, and products and seeks to understand (among other things) how prices and
wages are determined, the effects of taxation, price ceilings (or price floors) and quotas. Key
concepts provide a tool kit to analyze individual and group behaviour and the effects of the
public policy. Students with credit in ECON 1001, 1014 or 1073 may not take this course for
credit.
ECON1014
Principles of Microeconomics: Critical
Perspectives
3 ch (3C) [W]
This course is an alternative introduction to microeconomics. The aim is to be less
comprehensive than ECON 1013, but to go deeper into the core topics to provide a more
thorough critical perspective. In the process, the political and philosophical ideas underlying
conventional economic conclusions are examined. The limitations of conventional economic
reasoning, and the biases that may exist, are exposed. Students with credit in ECON 1001,
1013 or 1073 may not take this course for credit.
ECON1073
Economics for Engineers
3 ch (3C)
An introductory course designed for students in engineering and computer science programs.
Topics covered include price, production and cost theory; aggregate supply, aggregate
demand; money and banking; public finance; and international economics. Open only to
engineering and computer science students. Students who take this course may not take any
other first year economics course for credit.
ECON1023
Principles of Macroeconomics
3 ch (3C)
Economics divides itself into two halves: micro and macro. Macroeconomics is the study of
larger chunks of reality than microeconomics, aggregates such as a country’s gross national
product, its rate of inflation, and its unemployment rate. The standard (‘neoclassical’) model
is constructed to explain interest rates and exchange rates, and helps us understand how the
government can stabilize the economy, and the limitations of government policy, in an
increasingly globalized world. This model also helps us understand why some countries are
rich and others are poor. Students with credit in ECON 1002, 1024 or 1073 may not take this
course for credit.
2017 – 2018 Calendar Proof
ECON1024
Principles of Macroeconomics: Critical
Perspectives
3 ch (3C) [W]
This course is an alternative introduction to macroeconomics. As in ECON 1023, the standard
'neoclassical’ model is presented and explained. While this model has long been criticized by
heterodox economists – those in other schools of thought than the neoclassical school – there
was until recently a consensus within the neoclassical school itself. The 2007 financial
meltdown, and the subsequent Great Recession, has changed that. This course exposes
students to the ongoing debates, their historical roots, and their political implications.
Students with credit in ECON 1002, 1023 or 1073 may not take this course for credit.
ECON2008
The Chinese Economy in Transition (O)
3 ch (3C)
This course surveys the working of the contemporary Chinese economy in its various aspects.
Topics to be covered include the background to China’s economic reform and its process,
China’s economic transition, factors contributing to China’s fast economic growth, economic
institutions, economic policy, and economic issues in contemporary China. Normally taught
on location.
ECON2009
Understanding Economics through Film (O)
3 ch (3C) [W]
This course develops a vocabulary and a set of tools to analyse films, and utilizes the motion
picture to establish the context for teaching economics concepts. Plots and subplots of
selected films are used to illustrate problems and issues that are amenable to economic
analysis. Through a combination of readings, lectures, discussion and films, students will
develop a set of skills characterized as an economic way of thinking. The course is designed
for undergraduates with no previous economic training.
ECON2203
Introduction to Economic Governance
3 ch (3C) [W]
This course introduces students to the role and functions of the public sector in the economic
system. Topics include the rationale for government activities, the emergence of
public/private collaborative initiatives, the impact of specific government programs, overall
fiscal policy and government stabilization programs, policies designed to stimulate economic
growth, and policies designed to protect the environment. These policies are considered in the
context of intergovernmental fiscal relations and the inherent potential for conflict between
different levels of government.
ECON3013
Intermediate Microeconomics
3 ch (3C)
Microeconomics has two main purposes. First, it is a foundation course in the study of
economics; it provides the essential building blocks for higher level economics and finance
courses. Second, microeconomics can be directly applied to help solve the day-to-day
decisions of business managers; issues such as pricing, production, advertising, and strategic
2017 – 2018 Calendar Proof
ECON3013
Intermediate Microeconomics
3 ch (3C)
interaction. It achieves this through extensive use of real-world examples and short case
studies.
Prerequisite: 3 ch of first-year microeconomics (ECON 1001, 1013, or, 1014), or ECON
1073.
ECON3015
The Economics of Strategic Thinking
3 ch (3C)
Strategic thinking is the art of outdoing an adversary, knowing that the adversary is trying to
do the same to you. All of us must practice strategic thinking at work as well as in everyday
life. As a business manager, political adviser, lawyer and in the day-to-day pursuits of life
(such as buying a car) you will be trying to win the competition. This unit is about the basic
principles students can adopt in the attempt to become a better competitive strategist in
business and daily life. The unit draws these principles from the fields of business, politics,
law, sports, warfare, fiction and modern art forms such as the movies.
Prerequisite: First-year microeconomics [ ECON 1001, 1013, 1014, 1073], or permission of
the instructor.
ECON3023
Intermediate Macroeconomics
3 ch (3C)
Macroeconomics seeks to understand the way in which national economies function, and they
way they interact with each other at the international level. Key questions are: the
determination of a country's standard of living and rate of growth; the causes of recessions,
unemployment, and inflation; the determinants of exchange rates and the benefits (or costs) of
currency unions; and the determinants of interest rates. This course is an essential building
block for higher level study in economics and finance, and is indispensable for understanding
stock markets and financial investment.
Prerequisite: 3 ch of first-year macroeconomics (ECON 1002, 1023, or 1024), ECON 1073.
ECON3055
Public Policy Analysis
3 ch (3C)
Introduces public policy analysis from an economic perspective. It covers both
microeconomic policy (how and why governments intervene in the marketplace, and the
criteria for such intervention)and macroeconomic policy (whether actual stabilization policies
are effective). It develops the necessary tools to discuss public policy, and applies them to
various sub-fields (such as labour, taxation, government, spending, trade, monopoly,
fisheries, etc). The discussion is located in the Canadian context: the assignment of
government functions in our Constitution, and fiscal federalism.
Prerequisite(s): 3 ch of first-year microeconomics (ECON 1001, 1013, or 1014) and 3 ch of
first-year macroeconomics (ECON 1002, 1023, or 1024), ECON 1073.
2017 – 2018 Calendar Proof
ECON3103
Introduction to Money and Banking
3 ch (3C)
Introduces theory of money, history of monetary systems, deposit creation, central and
commercial banking, monetary policy and foreign exchange.
Prerequisite: 3 ch of first-year macroeconomics (ECON 1002, 1023, or 1024), or ECON
1073.
ECON3203
Public Finance Analysis
3 ch (3C)
Analyzes federal, provincial, and local expenditure and taxation by governments. Both theory
and evidence (with an emphasis on Canadian institutions) are emphasized.
Prerequisite(s): 3 ch of first-year microeconomics (ECON 1001, 1013, or 1014), or ECON
1073.
ECON3204
The Taxation of Personal Income: Principles and
Practice (O)
3 ch (3C)
The taxation of personal income in Canada. Topics include the concept of taxable income;
capital gains; dividends; deduction vs credits; tax rates; economic efficiency and equity; form
alternative s of taxation. The Canadian tax treatment of personal income is examined in
detail.
Prerequisite: First-year microeconomics [ECON 1001, 1013, 1014 or 1073], or permission of
the instructor.
ECON3205
The Taxation of Business Income: Principles and Practice
(O)
3 ch
The taxation of corporate income in Canada. Topics include the structure of the corporate tax
system; the concept of integration; typical tax planning strategies. Taxation of partnerships
and trusts will be discussed briefly. The Canadian tax system is examined in detail.
Pre-requisite: ECON 3204 .
ECON3401
International Economics: Trade
3 ch (3C)
Introduces the theory of international trade. Topics include mercantilism, comparative
advantage, gains from trade, terms of trade, factor endowment and industrial organization
models of trade, income distribution effects of trade, international movements of capital and
labour, protectionism, trade agreements and economic development.
2017 – 2018 Calendar Proof
ECON3401
International Economics: Trade
3 ch (3C)
Prerequisite: 3 ch of first-year microeconomics (ECON 1001, 1013, or 1014) and 3 ch of
first-year macroeconomics (ECON 1002, 1023, or 1024), or ECON 1073. ECON 3013
recommended.
ECON3412
International Economics: Finance
3 ch (3C)
Introduces the financing of trade and capital flows among nations. Topics include balance of
payments, foreign exchange markets and exchange rates, macroeconomic policy under fixed
and flexible exchange rates, and international monetary systems.
Prerequisite: 3 ch of first-year microeconomics (ECON 1001, 1013, or 1014) and 3 ch of
first-year macroeconomics (ECON 1002, 1023, or 1024), or ECON 1073; ECON 3023
recommended.
ECON3504
Regional Economic Theory and Policy
3 ch (3C)
Concerned with the general theory of regional economic disparities and economic
development, and the role of governments (federal and provincial) in alleviating disparities.
Emphasizes current problems and policies pertaining to Atlantic Canada.
Prerequisite: 3 ch of first-year microeconomics (ECON 1001, 1013, or 1014), or ECON 1073.
ECON3505
Information Technology and the Canadian
Economy
3 ch (3C) [W]
Blends economic analysis, economic history and public policy to spotlight the role of
economics in the context of the revolution in information technology. Topics include: the
structural evolution of the Canadian and regional economies, the emergence of knowledge
based industries, the economic costs and benefits of education, the demographic and skill
composition of Canada's labour force, the economics of technological change and the
contemporary role of the information technology, the impact of information technological
developments on human rights, the role of the private and public sectors in the new
transnational global economy.
Prerequisite: First-year microeconomics [ECON 1001, 1013, 1014 or 1073], or permission of
the instructor.
ECON3601
Business Statistics (Cross-Listed: ADM 2623)
3 ch (3C)
Introduces the methods of data presentation and analysis, and their applications to business
problems, including measures of data description, probability concepts and distributions, and
2017 – 2018 Calendar Proof
ECON3601
Business Statistics (Cross-Listed: ADM 2623)
3 ch (3C)
statistical design theory. Also considers sampling theorem, hypothesis testing using different
techniques
Prerequisites: 33 ch, MATH 1823 , and 1833 or equivalents. Students may not receive credit
for both ECON 3601 and ADM 2632 .
ECON3602
Management Science (Cross-Listed: ADM 2624)
3 ch (3C)
Presents a variety of applications of optimization models to business problems such as
allocation, blending, and scheduling. Introduces concepts production planning, inventory
control, network models and sequencing.
Prerequisites: ADM 2623 . Students may not receive credit for both ECON 3602 and ADM
2624 .
ECON3628
Advanced Statistics for Finance (Cross-Listed: ADM
3628)
3 ch (3C)
Examines theory behind statistical techniques such as analysis of variance, simple and
multiple regression, non parametric methods of estimation and hypothesis testing, and time
series analysis. Examines the applications of these techniques to problems in finance and
other areas of business administration.
Prerequisite: ADM 2623 . Students may not receive credit for both ECON 3628 and ADM
3628 .
ECON3665
Mathematical Economics I: Economic Analysis
3 ch (3C)
Emphasis is on use of mathematical tools in economic theory.
Prerequisite: Both first-year microeconomics (1001, or 1013 or 1014) and first-year
macroeconomics (1002, or 1023 or 1024) or ECON 1073, plus Mathematics requirement for
Honours and "A" Majors.
ECON3702
Cost-Benefit Analysis
3 ch (3C) [W]
Principles of cost-benefit analysis including consideration of welfare economics, the
treatment of intangibles, non-efficiency considerations, time discounting, evaluation criteria,
uncertainty and risk.
Prerequisite: 3 ch of first-year microeconomics (ECON 1001, 1013, or 1014), or ECON
1073.
2017 – 2018 Calendar Proof
ECON3705
Canada and the New Global Economy
3 ch (3C) [W]
This course will examine the Canadian economy in the context of the new global economy of
the 21st century. Economic theory, economic history and public policy will be the backdrop
for a discussion of the trilogy of interactive economic forces that define the new global
economy- globalization, trade liberalization and the information technology and
communications revolution.
Prerequisite: First-year microeconomics [ECON 1001, 1013, 1014 or 1073].
ECON3724
Economics of Human Resources
3 ch (3C)
How do employers recruit the best employees for the job? How important is money relative
to other factors when it comes to hiring and keeping employees? Should good performance
on the job be rewarded or should bad performance be penalized? The purpose of this unit is to
provide the student with the economic tools of analysis to answer these questions as well as
many other important questions in the area of human resource management. Topics include
education and training decisions, hiring and turnover, compensation and worker incentives,
measuring performance, promotions as a motivator, and team-based production. The analysis
of the main issues will be reinforced and complemented with reference to a series of firmlevel case studies.
Prerequisite: 3 ch of first-year microeconomics (ECON 1001, 1013, or 1014), or ECON
1073.
ECON3744
Recreation Economics (O)
3 ch (3C)
Discusses applications of economic principles to outdoor recreation planning and policy
decisions. Management and allocation issues are addressed with emphasis on approaches
which make outdoor recreation as socially beneficial as possible at the lowest possible cost.
Prerequisite: 3 ch of first-year microeconomics (ECON 1001, 1013, or 1014), or ECON 1073.
ECON3755
Environmental Economics
3 ch
Examines interaction of ecological and economic systems. Considers population growth and
food supply, non-renewable resources, and population.
Prerequisite: 3 ch of first-year microeconomics (ECON 1001, 1013, or 1014), or ECON 1073,
or permission of the instructor.
ECON3766
Economics of Climate Change (A)
3 ch (3C)
Climate change is posing a significant challenge to world economies. This course focuses on
valuing the consequences of climate change and assessing the costs of mitigation and
2017 – 2018 Calendar Proof
ECON3766
Economics of Climate Change (A)
3 ch (3C)
adaptation. The efficiency of alternative policy instruments such as carbon taxes, tradable
emissions permits, voluntary initiatives, and others are assessed. Existing instruments, such as
carbon taxes in British Columbia and carbon credit trading on the Chicago Climate Exchange
are reviewed and critiqued. The potential contribution of these instruments to the overall
achievement of Kyoto Protocol targets set by various countries is examined.
Prerequisites: 3 ch of first-year microeconomics (ECON 1001, 1013, or 1014), or ECON
1073, or permission of the instructor.
ECON3775
The Economics of Canadian Immigration
3 ch (3C) [W]
An analysis of the role of international migration on the course of Canadian economic
development.
Prerequisites: Both first-year microeconomics (1001, or 1013 or 1014) and first-year
macreconomics (1002, or 1023 or 1024) or ECON 1073.
ECON3801
Economics of Transportation I
3 ch (3C)
Examines the role played by transportation in the location of economic activity and other
aspects of economics development.
Prerequisites: Both first-year microeconomics (1001, or 1013, or 1014) and first-year
macroeconomics (1002, or 1023 or 1024) or ECON 1073.
ECON3815
Introduction to Health Economics
3 ch (3C)
The course discusses applications of economic principles and empirical analysis to health and
health policy. It considers such matters as the demand for health care, and the supply of
health services – both through health practitioners and hospitals; the economic effects of
health insurance, health economic evaluation techniques, and public policy formulation.
Emphasis is on Canadian health programs and policies.
Prerequisite: 3 ch of first-year microeconomics (ECON 1001, 1013, or 1014), or ECON 1073.
ECON3845
Introduction to Law and Economics
3 ch (3C) [W]
This course applies the tools of economic analysis to the study of legal rules and institutions.
Topics and case studies in three core areas of the law - property, contracts, and crime and
punishment - are used to illustrate and develop two related ideas. The first is that economic
principles have guided significant developments in the evolution of the law in many areas,
and an understanding of these economic principles will lead to a better understanding of the
law as it is currently practiced. The second is that economic analysis can be used to assess
2017 – 2018 Calendar Proof
ECON3845
Introduction to Law and Economics
3 ch (3C) [W]
and critique current law from a social perspective, leading to improved public policy
evaluation and formation in all areas of civil and criminal law.
Prerequisite: First-year microeconomics [ECON 1001, 1013, 1014 or 1073], or permission of
the instructor.
ECON3865
Energy Economics
3 ch (3C)
Applies economic theory to energy issues. Demand for energy and supply of energy are
explored in terms of non-renewable and renewable energy resources. Markets for energy
resources are discussed. Specific attention is directed to petroleum markets and OPEC
behaviour. Public policy issues associated with the energy sector such as the environment and
sustainability are addressed.
Prerequisite(s): Any first year economics course.
ECON3905
Contemporary Issues in the Canadian Economy
3 ch (3C) [W]
Examines a variety of contemporary economic issues, including inflation, unemployment,
economic growth, regional disparity, monetary and fiscal policies, the new international
economic order, bilateral and multilateral trade agreements.
Prerequisites: Any First Year Economics Course.
ECON4013
Advanced Microeconomics
3 ch (3C)
Focuses on advanced theory of choice. Topics include choice under uncertainty, the theory of
the firm, oligopoly theories, game theory, general equilibrium, and the distribution of income.
Prerequisites: ECON 3013 and ECON 3665 or an equivalent to ECON 3665 .
ECON4023
Advanced Macroeconomics
3 ch (3C)
Emphasizes core neo-classical theories as well as Keynesian and post-Keynesian models.
Prerequisites: ECON 3665 (or equivalent) and ECON 3023 .
ECON4625
Econometrics I
3 ch (3C)
Introduction to basic econometric techniques for estimating and testing economic models.
Topics include: review of basic statistics, the nature of econometric models and economic
2017 – 2018 Calendar Proof
ECON4625
Econometrics I
3 ch (3C)
data, regression analysis, hypothesis testing, and applications. Emphasis is on intuition and
applications.
Prerequisites: Any first year economics course and 6 ch Introductory Statistics (e.g. ECON
3601 / ADM 2623 , ECON 3628 / ADM 3628 ).
ECON4665
Mathematical Economics II
3 ch (3C)
Economic applications of optimizing techniques are considered primarily in the context of
linear models.
Prerequisites: ECON 3665 , or MATH 2003 and 2013 , and ECON 3013 .
ECON4673
Introduction to Game Theory (O) (Cross-Listed:
MATH 3373)
3 ch (3C)
Strategic games, n-person games in normal form, dominated strategies, Nash equilibrium,
mixed strategies and mixed strategy equilibrium, games with perfect information, games
with imperfect information, Bayesian games, extensive games. The course introduces basic
non-cooperative game theory and analytical tools for decision makers (consumers,
firms, politicians, governments). It is suitable for Mathematics, Economics, Management
Science, Political Science, Social Science and Science students or any student with a minor in
such disciplines, in particular those in the Mathematics/Statistics-Economics option.
Prerequisites: MATH 1823 and MATH 1833; or MATH 1003 and MATH 1013; or MATH
1053 and MATH 1063; or ECON 3013; or permission of the instructor.
ECON5013
Topics in Microeconomic Theory
3 ch (3C)
Considers the advanced theory of production and consumer demand, expected utility theory,
theory of the market, elements of game theory, general equilibrium and welfare.
Prerequisites: ECON 3013 and ECON 4013.
ECON5023
Topics in Macroeconomics
3 ch (3C)
Examines neoclassical, Keynes and Keynesian models, and static, dynamic, equilibrium and
disequilibrium models.
2017 – 2018 Calendar Proof
ECON5023
Topics in Macroeconomics
3 ch (3C)
Prerequisites: ECON 4013 and ECON 4023 .
ECON5285
Public Policy Research
3 ch (3C)
This course provides practical experience in public policy analysis through supervised
research. Students will complete research projects assigned by the instructor. These projects
are policy-oriented and are chosen in consultation with sponsoring agencies. A formal
presentation of the results is required at the end of the course.
Prerequisites: ECON 3013 , ECON 3023 or permission of the instructor.
ECON5515
General Regional Economic Theory
3 ch (3C)
Examines the history and evolution of location theory from the standpoint of individual
producers in urban centers.
Prerequisite: Some background in Economics.
ECON5625
Econometrics II
3 ch (3C)
Review of matrix algebra. Errors in variables, instrumental variables, simultaneous equations,
qualitative and limited dependent variables, dynamic models, model selection criterion,
causality, unit roots, single equation cointegration methods. Emphasis is on practical
application of simultaneous methods.
Prerequisite: ECON 4625 or permission of the instructor.
ECON5645
Applied Econometrics
3 ch (3C)
This course builds on the material covered in ECON 4625 Econometrics I. There are two
main objectives to the course: first, to extend the classical model to consider a variety of
related topics that are central to data analysis in the social sciences, including discrete and
limited dependent variables, lagged dependent variables, panel data, and simultaneous
equations; and second, to develop the application of the theory to empirical analysis by
considering a variety of real-world examples.
Prerequisite: ECON 4625 .
2017 – 2018 Calendar Proof
ECON5724
Economics of Human Resources
3 ch (3C)
Attention given to the economics of the education process, the theory and implications of
innovation, the effects of education and technological change on the distribution of income,
and the role of education and technological change in economic growth.
Prerequisites: ECON 3013 and 3023 .
ECON5755
Environmental Economics II
3 ch (3C)
Applies economic theory to real-world environmental issues. The theory of environmental
externalities is first explored. Then various applications are introduced such as environmental
valuation techniques, computable general equilibrium modeling, and environmental
accounting procedures. Such environmental issues as deforestation, urban air pollution, and
water pollution will be covered.
Prerequisite(s): ECON 3755 or permission of the instructor.
ECON5805
Transportation Economics I (A)
3 ch (3C)
This course focuses on basic tools of economic analysis to determine demand and supply in
transportation markets. Considerable attention is devoted to the derivation of market and
aggregate demand for transportation services as well as to cost functions as determinants of
supply of transportation services. Efficient pricing of transportation services is analysed.
Investment criteria are reviewed to determine the efficient pricing. Market failures and
imperfections of transportation markets are examined.
Prerequisites: ECON 3013 and ECON 3023 .
ECON5815
Health Economics
3 ch (3C)
The course discusses and analyses the health economics literature. A set of topics will be
selected by the instructor for consideration. Likely topics will include demand theory and
measurement as applied to health care markets, production and supply theory (in the context
of health markets), health economic evaluation methods, managed competition approaches to
health care, and public policy analysis. Other topics may be introduced in accordance with the
instructor's priorities, or the specific interests of the students. ECON 3013 , ECON 3023 or
the permission of the instructor.
ECON5825
Industrial Organization: Theory
3 ch (3C)
Covers welfare economics of competition and monopoly, determinants of industrial structure,
theories of industrial pricing, rationalization, technological innovation, and foreign
ownership.
2017 – 2018 Calendar Proof
ECON5825
Industrial Organization: Theory
3 ch (3C)
Prerequisites: ECON 3013 , or at discretion of instructor.
ECON5835
Industrial Organization: Policy
3 ch (3C)
Economics of regulation and intervention, anti-combines policy, policy issues concerning the
control of mergers, monopoly, predatory pricing, collusion, resale price maintenance.
Prerequisite: ECON 5825 , or at discretion of instructor.
ECON5989
Topics in Economics I
3 ch (R 1S)
Directed study/reading programs. Workshops or seminars will be held as required. Students
should apply to the Department of Economics in September or January for permission to take
one of these courses.
ECON5999
Topics in Economics II
3 ch (R 1S)
Directed study/reading programs. Workshops or seminars will be held as required. Students
should apply to the Department of Economics in September or January for permission to take
one of these courses.