2012-2013 Calendar Proof
ECON
ECONOMICS
ECON 1001
Economics in the Real World: Micro
3 ch (3C) [W]
This course differs from conventional microeconomic courses in two main ways. First, because we are confident of the
power of economic reasoning, this course opens out the orbit of study to include all human behavior, not just market
behaviour. Second, because we are aware of the limitations of economic reasoning, we expose the political and
philosophical ideas underlying conventional economic conclusions and the biases they create. Students with credit in
ECON 1013 or ECON 1073 may not take this course for credit.
ECON 1002
Introduction to the New Economy
3 ch (3C) [W]
This course is designed for students in Arts, Computer Science, Education, Science, Forestry, Nursing and Kinesiology.
It is intended to introduce students to the macroeconomic concepts and the role of government in the new economy.
More specifically, the course content will explore the following core topics: globalization, international trade,
information technology revolution, economic development, money and banking, national income, machinery of
government, public policy, health care, natural resources, innovation, inflation, unemployment, cultural/social issues,
regional disparity, education and environmental issues. Students with credit in ECON 1023 or ECON 1073 may not
take this course for credit.
ECON 1013
Introduction to Economics : Micro
3 ch (3C)
An introduction to demand and supply, pricing, market structure, and government intervention. Students with credit in
ECON 1001 or ECON 1073 may not take this course for credit.
ECON 1023
Introduction to Economics : Macro
3 ch (3C)
An introduction to national income determination, unemployment, inflation, banking and exchange rates. Students
with credit in ECON 1002 or ECON 1073 may not take this course for credit.
ECON 1073
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.
ECON 2008
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.
ECON 2009
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.
ECON 3013
Economic Theory I: 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 interaction. It achieves this through extensive use of real-world examples and short case studies.
Prerequisite: Any first year economics course.
ECON 3015
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
2012-2013 Calendar Proof
modern art forms such as the movies. Prerequisite: any first year Economics course.
ECON 3023
Economic Theory I: 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: Any first year economics course.
ECON 3055
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): ECON 1013 (or ECON 1001 ) and ECON 1023 (or ECON 1002 ).
ECON 3103
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: Any First Year Economics Course.
ECON 3202
Introduction to Public Finance
3 ch (3C) [W]
Emphasis is on public expenditure policies, intergovernmental fiscal relations, and fiscal policy. Prerequisite: Any First
Year Economics Course.
ECON 3203
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): Any first year Economics course.
ECON 3401
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.
Prerequisite: EITHER ECON 1013 and ECON 1023 , OR ECON 1001 and 1002 , OR ECON 1073 ; ECON 3013
recommended.
ECON 3412
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: EITHER ECON 1013 and ECON 1023 , OR ECON 1001 and 1002 , OR
ECON 1073 ; ECON 3023 recommended.
ECON 3504
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: Any First Year Economics course.
ECON 3505
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: Any 3 ch introductory Economics course.
3 ch (3C)
ECON 3601
Business Statistics (Cross-Listed: ADM 2623)
2012-2013 Calendar Proof
Introduces the methods of data presentation and analysis, and their applications to business problems, including
measures of data description, probability concepts and distributions, and statistical decision 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
3 ch (3C)
ECON 3602
Management Science (Cross-Listed: ADM 2624)
Presents a variety of applications of optimization models to business problems such as allocation, blending, and
scheduling. Introduces concepts of production planning, inventory control, network models and sequencing.
Prerequisite: ADM 2623 . Students may not receive credit for both ECON 3602 and ADM 2624.
ECON 3628
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 application 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 3828.
ECON 3665
Mathematical Economics I: Economic Analysis
3 ch (3C)
Emphasis is on use of mathematical tools in economic theory. Prerequisite: ECON 1013 AND ECON 1023 or 1073 plus
Mathematics requirement for Honours and "A" Majors.
ECON 3702
Cost-Benefit Analysis
3 ch (3C) [W]
Principles of cost-benefit analysis including consideration of walfare economics, the treatment of intangibles, nonefficiency considerations, time discounting, evaluation criteria, uncertainty and risk. Prerequisite: Any First Year
Economics Course.
ECON 3705
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: any first year economics course.
ECON 3724
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 firm-level case studies. Prerequisite: Any first-year economics course.
ECON 3744
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. Any first year economics course, or permission of the instructor.
ECON 3755
Environmental Economics
3 ch
Examines interaction of ecological and economic systems. Considers population growth and food supply, nonrenewable resources, and population. Prerequisite: Any First Year Economics Course.
ECON 3766
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 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: Any first year economics course, or permission from instructor.
ECON 3775
The Economics of Canadian Immigration
3 ch (3C) [W]
2012-2013 Calendar Proof
An analysis of the role of international migration on the course of Canadian economic development. Prerequisites: Any
First Year Economics Course.
ECON 3801
Economics of Transportation I
3 ch (3C)
Examines the role played by transportation in the location of economic activity and other aspects of economic
development. Prerequisite: Any First Year Economics Course.
ECON 3815
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: Any First Year
Economics Course.
ECON 3845
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 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: Any first year economics course or permission of the instructor.
ECON 3865
Energy Economics
3 ch (3C)
Applies economic theory to energy issues. Demand for energy and supply of energy are explored in terms of nonrenewable 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.
ECON 3905
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.
ECON 4013
Economic Theory II - 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 ECON 3013 and an equivalent to ECON 3665 .
ECON 4023
Economic Theory II - 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 .
ECON 3204
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. Pre-requisite or co-requisite: Any first-year economics course .
ECON 3205
The Taxation of Business Income: Principles and Practice (O)
3 ch (3C)
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: ECON3204. .
ECON 4625
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 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. ECON3601/ADM 2623 , ECON3628/ADM 3628 ).
ECON 4665
Mathematical Economics II
3 ch (3C)
Economic applications of optimizing techniques are considered primarily in the context of linear models. Prerequisites:
2012-2013 Calendar Proof
ECON 3665 , or MATH 2003 and 2013 , and ECON 3013 .
ECON 5013
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.
ECON 5023
Topics in Macroeconomics
3 ch (3C)
Examines neoclassical, Keynes and Keynesian models, and static, dynamic, equilibrium and disequilibrium models.
Prerequisites: ECON 4013 and ECON 4023 .
ECON 5285
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.
ECON 5515
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.
ECON 5625
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.
ECON 5645
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 .
ECON 5673
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.
ECON 5724
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 .
ECON 5755
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.
ECON 5805
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 .
2012-2013 Calendar Proof
ECON 5815
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.
ECON 5825
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. Prerequisites: ECON 3013 , or at discretion of
instructor.
ECON 5835
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.
ECON 5989
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.
ECON 5999
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.