ECONOMICS

ECONOMICS

ECONOMICS 1010
Introduction to Microeconomics

Credit hours: 3.0
Contact hours per week: 3-1-0

The economic way of thinking with particular application to Canadian issues; an introduction to microeconomic principles; how prices and profits allocate scarce resources in a market economy; the role of government in a market economy.

ECONOMICS 1012
Introduction to Macroeconomics

Credit hours: 3.0
Contact hours per week: 3-1-0

The economics of unemployment and inflation with particular reference to Canada in a global economy; an introduction to macroeconomic principles; the role of government in the national economy and public policy toward unemployment and inflation; international trade and the balance of payments.

ECONOMICS 2070/MANAGEMENT 2070
Operations and Quantitative Management

Credit hours: 3.0
Contact hours per week: 3-0-0

Management of production and service operations, including capacity planning, process and layout design, and TQM; applications of quantitative techniques like linear programming, forecasting, inventory models, waiting line models, CPM/PERT, simulations and decision theory are discussed within the operations environment.

Prerequisites: Economics 1010 or Management 2030 (3030), and Statistics 1770.

Corequisite: Management 2060.

ECONOMICS 2120
Economics of Professional Sports

Credit hours: 3.0
Contact hours per week: 3-0-0

The application of basic economic principles to analyze and interpret current issues in professional sports. Topics include: history and economic characteristics of professional sports leagues; profitability and taxes; views of salary negotiations and salary caps; cost-benefit analysis of new stadiums; player and team production and salaries; rival leagues; and competitive parity.

ECONOMICS 2150
Economics of Agricultural Issues

Credit hours: 3.0
Contact hours per week: 3-0-0

Agriculture in a modern economy. Globalization of agriculture. Canadian agriculture in the World Trade Organization and NAFTA. Safety net issues. Subsidies in agriculture. Marketing issues in Canadian agriculture. Current policy debates.

Prerequisite: Economics 1010.

ECONOMICS 2170
Economic History of Canada

Credit hours: 3.0
Contact hours per week: 3-0-0

Development of the Canadian economy from colonial times to the present; European origins; the staple trades, growth of agriculture, manufacturing, transportation; growth of banking and capital market institutions; roles of government; historical origins of contemporary Canadian economic problems; application of economics to historical issues.

ECONOMICS 2350
Economics of Agricultural Markets I

Credit hours: 3.0
Contact hours per week: 3-0-0

An introduction to the processes and institutions comprising the contemporary food marketing system. Basic theory and underlying factors determining and affecting grain and livestock prices. Spatial price relationships. Temporal price variation. Price differences due to form (particularly dealing with grading and quality). Prices as a coordinating mechanism in vertically-related systems. Derived demand and marketing margins. Marketing boards.

Prerequisite: Economics 1010.

ECONOMICS 2750
Quantitative Methods in Economics

Credit hours: 3.0
Contact hours per week: 3-0-0

The mathematical interpretation of fundamental economic concepts; demand and supply; competitive equilibrium. Application of the calculus and matrix algebra to production and distribution theory, growth models and investment theory. Solving systems of linear equations, optimization problems and some dynamics of economic systems

Prerequisite: Economics 1010.

ECONOMICS 2850
Selected Topics in Economics

Credit hours: 3.0
Contact hours per week: 3-0-0

These courses apply simple economic reasoning to a variety of current social topics. Examples include: law, the changing income distribution.

Prerequisites and recommended backgrounds will be specified for individual offerings.

ECONOMICS 2900
Economics and Business Statistics

Credit hours: 3.0
Contact hours per week: 3-1-0

The application of statistical techniques to economic and business data, with emphasis on statistical estimation, hypothesis testing, regression, correlation, time series analysis and index numbers.

Prerequisites: Economics 1010 or 1012, and Statistics 1770.

Note: Credit is not allowed for Economics 2900 and Statistics 2780.

ECONOMICS 3010
Intermediate Microeconomic Theory

Credit hours: 3.0
Contact hours per week: 3-0-0

An analytical approach to optimal resource allocation in a competitive economy; the theory of consumer behaviour; the theory of cost and production; price determination under perfect competition and monopoly; general equilibrium theory; welfare economics.

Prerequisite: Economics 1010.

ECONOMICS 3012
Intermediate Macroeconomic Theory

Credit hours: 3.0
Contact hours per week: 3-0-0

Macroeconomic theory and policy; comparison of the Classical and Keynesian theories of income and employment; recent literature in the areas of investment, consumption and fiscal and monetary policy; applications to the Canadian economy.

Prerequisite: Economics 1012.

ECONOMICS 3030
Managerial Economics

Credit hours: 3.0
Contact hours per week: 3-0-0

An introduction to the application of economic principles to organizations and how they operate. The neoclassical theory of the firm, team production, property rights, ownership and efficiency, contract theory, rent capture, agency problems and corporate control, managing human resources, core competencies and competitive strategies, organizational structure in a global environment. Case studies relate theoretical concepts to modern firms.

Prerequisite: Economics 1010.

ECONOMICS 3080/MANAGEMENT 3780
Principles of Industrial Organization

Credit hours: 3.0
Contact hours per week: 3-0-0

Industrial organization paradigms; market structure and strategic behaviour; market structure and technological innovation; vertical integration; conglomerates; welfare economics of imperfect competition.

Prerequisite: Economics 1010.

ECONOMICS 3210
Natural Resource Economics

Credit hours: 3.0
Contact hours per week: 3-0-0

Economic issues connected with the use of natural resources; problems of exploitation and conservation; benefit-cost analysis as a decision-making tool in the natural resource field; problems of increasing resource scarcities and conflicts in resource use in Canada and internationally.

Prerequisite: Economics 1010.

ECONOMICS 3220
Environmental Economics

Credit hours: 3.0
Contact hours per week: 3-0-0

The economic analysis of environmental issues; design and implementation of government policies; cost-benefit analysis; survey of environmental policies and regulations in Canada; measurement of environmental values; current local and global environmental problems; topics of special interest will vary from semester to semester.

Prerequisite: Economics 1010.

ECONOMICS 3300
Agricultural Policy I

Credit hours: 3.0
Contact hours per week: 3-0-0

Agricultural production and marketing problems; price discovery mechanisms; role of technological change in agriculture; history of government involvement in Canadian agriculture; an analysis of the chronic farm income problem; current issues in Canadian agriculture.

Prerequisite: Economics 1010.

ECONOMICS 3350
Economics of Agricultural Markets II

Credit hours: 3.0
Contact hours per week: 3-0-0

Microeconomic theory and analysis of markets for agricultural and food products. Alternative market structures, market regulation, the role of information in markets, the role of uncertainty in markets, and organization structures. Introduction to the institutional structure and economic functions of futures and options markets. Price formation in commodity futures and options markets. The theory of intertemporal price formation for storable commodities along with the theory and practice of hedging.

Prerequisites: Economics 1010 and 2350.

ECONOMICS 3400
Money and Banking

Credit hours: 3.0
Contact hours per week: 3-0-0

Nature and functions of money and financial instruments; role of the financial system in economic activity; elementary monetary theory and theories of financial markets and financial intermediation; Canadian financial institutions with emphasis on banks and other deposit institutions and their regulation; central banking and the control of the money supply; international finance; monetary policy.

Prerequisites: Economics 1010 and 1012.

ECONOMICS 3550
International Economics

Credit hours: 3.0
Contact hours per week: 3-0-0

Canada in the international economy; why nations trade: sources of comparative advantage, intra-industry trade, tariff and nontariff barriers to trade, GATT and other preferential trading arrangements. Trade disputes and intellectual property rights; foreign exchange markets and exchange rates, the balance of payments, the international monetary system and financial markets. Much of the discussion will be drawn from or related to recent Canadian experience.

Prerequisites: Economics 1010 and 1012.

ECONOMICS 3600
Labour Economics

Credit hours: 3.0
Contact hours per week: 3-0-0

Theories of wage determination and unemployment under different institutional and market structures; actual wage and unemployment patterns and effects of government policies.

Prerequisite: Economics 1010.

ECONOMICS 3710
Economic Analysis of Canadian Public Issues

Credit hours: 3.0
Contact hours per week: 3-0-0

The application of simple economic analysis to current Canadian public policy issues. Course content will vary from semester to semester, but topics will be weighted toward labour market and social issues such as labour market discrimination, poverty and income distribution, crime, etc.

Prerequisite: Third-year standing (a minimum of 60.0 credit hours).

Note: Credit is not allowed for Economics 3710 and Economics 2850 (Canadian Public Issues).

ECONOMICS 3750
Economics of Public Spending

Credit hours: 3.0
Contact hours per week: 3-0-0

Theories of allocating resources by political means; public goods, externalities, income and wealth distribution and the role of government spending; the effects of taxation and government spending on resource allocation; tax incidence, cost-benefit analysis and fiscal federalism are covered.

Prerequisite: Economics 1010.

ECONOMICS 3800
Economic Development

Credit hours: 3.0
Contact hours per week: 3-0-0

The developing countries in a world setting; modern theories of economic growth and development; an economic analysis of current issues and problems in development including poverty, inequitable income distribution, unemployment and under-employment, stagnation in agriculture, population growth, savings and capital accumulation, trade and development, and the role of foreign aid.

Prerequisite: Economics 1010.

ECONOMICS 3850
Topics in Economic Analysis

Credit hours: 3.0
Contact hours per week: 3-0-0

Seminars depend upon student and faculty interest.

Prerequisites and recommended backgrounds will be specified for individual offerings.

ECONOMICS 3900/MANAGEMENT 3721
Economic and Business Forecasting

Credit hours: 3.0
Contact hours per week: 3-0-0

Construction, estimation and forecasting economic and business time series using a variety of techniques including simple trend extrapolations, multiple regression models, ARIMA models, simultaneous equation models, input-output models and subjective methods, with emphasis on computer applications and proper forecasting methodology.

Prerequisites: Economics 1012, and Economics 2900 or Statistics 2780.

ECONOMICS 3950
Econometrics

Credit hours: 3.0
Contact hours per week: 3-0-0

Multiple regression analysis; problems in regression analysis including multicollinearity, autocorrelation, heteroscedasticity, specification error and systems of equations.

Prerequisites: Economics 1012, and Economics 2900 or Statistics 2780.

ECONOMICS 4010
Advanced Microeconomic Theory

Credit hours: 3.0
Contact hours per week: 3-0-0

A series of topics of a more technical nature than those developed in Economics 3010. Topics include risk and uncertainty, the economics of information, including asymmetric information, mechanism design and auctions.

Prerequisite: Economics 3010.

ECONOMICS 4012
Advanced Macroeconomic Theory

Credit hours: 3.0
Contact hours per week: 3-0-0

Static macroeconomic models are reformulated in dynamic terms. The theory of macroeconomic policy is developed from these models. Actual models of the Canadian economy are analyzed and used as a basis for discussing recent Canadian macroeconomic policies.

Prerequisite: Economics 3012.

ECONOMICS 4080/MANAGEMENT 4780
Industrial Organization: Theory and Policy

Credit hours: 3.0
Contact hours per week: 3-0-0

Theories of oligopoly pricing; theories of the firm; the economics of mergers and takeovers; Canadian competition policy; and the regulation of industry.

Prerequisites: Economics 3010 or 3030, and Economics 3080/Management 3780.

Recommended background: Economics 2900.

ECONOMICS 4150
Mathematical Economics

Credit hours: 3.0
Contact hours per week: 3-0-0

The application of mathematical tools to economic analysis; the use of calculus and matrix algebra as applied to unconstrained and constrained optimization problems; the derivation and mathematical properties of economic functions; comparative static analysis; linear economic systems and other topics.

Prerequisites: Economics 1012, 3010, Mathematics 1410, and Mathematics 1510 or 1560.

ECONOMICS 4300
Agricultural Policy II

Credit hours: 3.0
Contact hours per week: 3-0-0

Income problems in agriculture; federal and provincial goals for Canadian agriculture; welfare implications of policies to increase demand or decrease supply of agricultural commodities; risk and uncertainty in agricultural production; analysis of policies to decrease risk and uncertainty in agriculture; economics of agricultural research; price and income policies in Canadian agriculture.

Prerequisite: Economics 3010 or 3300.

Recommended background: Economics 2900.

ECONOMICS 4400
Monetary Economics

Credit hours: 3.0
Contact hours per week: 3-0-0

An analysis of money as an economic variable from micro- and macroeconomic perspectives; historical and contemporary theories of money; survey of empirical evidence.

Prerequisites: Economics 3010, 3012, and 3400.

Recommended background: Economics 2900.

ECONOMICS 4500
International Trade Theory

Credit hours: 3.0
Contact hours per week: 3-0-0

A theoretical approach to international trade; topics include the basic trade model, the Ricardian and Heckscher-Ohlin theories of international trade, intra-industry trade, the impact of multinational corporations, tariff and nontariff barriers to trade and international factor movements; Canadian trade policy.

Prerequisite: Economics 3010.

ECONOMICS 4550
International Finance

Credit hours: 3.0
Contact hours per week: 3-0-0

The foreign exchange market; the balance of payments; interactions of price, income and money; international monetary arrangements and current international monetary problems.

Prerequisite: Economics 3012.

ECONOMICS 4600
Economic Analysis of Labour Markets

Credit hours: 3.0
Contact hours per week: 3-0-0

Topics in labour market economics will be covered using relatively advanced theoretical analysis involving extensions of human capital theory and imperfect - or incomplete - information. The theoretical analysis will be compared with recently published empirical results. The topics include at least some of: job search and job mobility; labour-market migration; compensating wage differentials; job-matching; 'efficiency' wages; lifetime income differentials; and labour market discrimination.

Prerequisite: Economics 3010 or 3600.

ECONOMICS 4750
Economic Analysis of the Public Sector

Credit hours: 3.0
Contact hours per week: 3-0-0

An analysis of the public sector and its role in the economy; effects of taxation and spending from an economic and political point of view; an introduction to public choice economics; growth of the public sector, deficits; voting models; fairness models of political choice involving taxes, spending and redistribution.

Prerequisites: Economics 3010 and 3750.

ECONOMICS 4850
Selected Topics in Economic Analysis

Credit hours: 3.0
Contact hours per week: 3-0-0

Seminars depend upon student and faculty interest.

Prerequisites and recommended backgrounds will be specified for individual offerings.

ECONOMICS 4995
Undergraduate Thesis

Credit hours: 6.0
Contact hours: Variable

This is a research-oriented course in which students will conduct field work, text- or library-based research, submit a report in the form of an undergraduate thesis, which will be made publicly available, and report orally on the work. In consultation with their Thesis Supervisor, students will define a research problem and formulate a research plan.

Prerequisites: Fourth-year standing (a minimum of 90.0 credit hours) with a cumulative GPA of 3.30 or higher.

Completion of Economics 3950.

Application to the Department of Economics.

Corequisites: Economics 4010, 4012, and 4150.

Note: Contact hours will vary. Students should be aware that this course involves regular contact with the Thesis Supervisor as well as considerable independent work.

See Part 7 - Arts and Science, Sections 5.c. (p. 90), 6.c. (p. 92), and 7.c. (p. 93).