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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.
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.
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.
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.
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Open only to engineering and computer science students. Students who take this course
may not take any other first year economics 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 Public Finance
3 ch (3C) [W]
Emphasis is on public expenditure policies, intergovernmental fiscal relations, and fiscal
policy.
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 dayto-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: 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.
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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.
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
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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.
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
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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 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
Emphasis is on use of mathematical tools in economic theory.
3 ch (3C)
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.
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Prerequisite: 3 ch of first-year microeconomics (ECON 1001, 1013, or 1014), or ECON
1073.
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 firm-level 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
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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 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.
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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 ECON 3013 and 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
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 .
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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.
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.
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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 .
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 .
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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.
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.