2001-2002 Undergraduate Calendar
	2001-2002 UNDERGRADUATE CALENDAR: COURSES
	Carleton University

Economics Courses
Not all of the following courses are offered in a given year. For an up-to-date statement of course offerings for 2001-2002, please consult the Registration Instructions and Class Schedule booklet published in the summer.

First-Year Seminar in Economics 01.103
Introduction to Economics
Introduction to the major tools and policy problems of economics. Economic analysis is applied to a variety of contemporary problems such as pollution, poverty, the control of monopoly, unemployment, inflation and international economic problems. Limited enrolment.
Precludes additional credit for Economics 43.100.
Prerequisite: Normally restricted to students entering the First year of a B.A. program.
Lectures three hours a week and one hour discussion group weekly.

Economics 43.100
Introduction to Economics
An introduction to the major tools and policy problems of economics. Economic analysis is applied to a variety of contemporary problems such as pollution, poverty, the control of monopoly, unemployment, inflation and international economic problems.
Precludes additional credit for First-Year Seminar 01.103.
Lectures three hours a week and discussion group one hour every two weeks.

Economics 43.201*
Intermediate Microeconomics for Non-Majors
The main topics in microeconomic theory with illustrations of their applications. Not open to students in Economics or the Bachelor of Commerce program.
Precludes additional credit for Economics 43.202* or 43.203*.
Prerequisite: Economics 43.100 or First-Year Seminar 01.103, or permission of the Department.
Lectures three hours a week.

Economics 43.202*
Intermediate Microeconomics I
An analysis of consumer demand, production, costs and an introduction to market structures, with special reference to the determination of conditions which maximize social welfare.
Precludes additional credit for Economics 43.201*.
Prerequisites: Economics 43.100 or First-Year Seminar 01.103, (grade of C- or better); and Mathematics 69.109*, which may be taken concurrently with Economics 43.202*.
Lectures three hours a week.

Economics 43.203*
Intermediate Microeconomics II
An analysis of distribution, market structures and general equilibrium theory, with special reference to the determination of conditions that maximize social welfare.
Precludes additional credit for Economics 43.201*.
Prerequisite: Economics 43.202*.
Lectures three hours a week.

Economics 43.211*
Intermediate Macroeconomics for Non-Majors
The main topics in macroeconomic theory with illustrations of their application. Not open to students in Economics or the Bachelor of Commerce program.
Precludes additional credit for Economics 43.212* or 43.213*.
Prerequisite: Economics 43.100 or First-Year Seminar 01.103, or permission of the Department.
Lectures three hours a week.

Economics 43.212*
Intermediate Macroeconomics I
An examination of the standard macroeconomic model of a closed economy, emphasizing both the aggregate demand and the aggregate supply side of the economy. The model is used to analyze basic macroeconomic problems and evaluate proposed solutions of these problems.
Precludes additional credit for Economics 43.211*.
Prerequisite: Economics 43.100 or First-Year Seminar 01.103, (grade of C- or better); and Mathematics 69.109*, which may be taken concurrently with Economics 43.212*.
Lectures three hours a week.

Economics 43.213*
Intermediate Macroeconomics II
An extension of the standard macroeconomic model to include topics such as macroeconomic theory and policy in an open economy, theoretical development and empirical analysis of basic macro relationships, the short-run dynamics of wage-price adjustment and economic growth.
Precludes additional credit for Economics 43.211*.
Prerequisite: Economics 43.212*.
Lectures three hours a week.

Economics 43.220
Statistical Methods in the Social Sciences
An introduction to statistical inference. Topics covered include probability theory, estimation, sampling distributions, two-population inference, tests of goodness of fit and independence, correlation, simple and multiple linear regression with residual analysis, and analysis of variance.
Precludes additional credit for Geography 45.206*, Mathematics 69.257*, 69.259*, 69.266*, 69.267*, Psychology 49.300, and Sociology 53.370.
Prerequisites: Mathematics 69.109* and 69.119* (or equivalent); or permission of the Department. These courses may be taken concurrently with Economics 43.220. For students in the Bachelor of International Business program, the prerequisite is successful completion of Business 42.173.
Lectures three hours a week, tutorials one hour a week.

Economics 43.235
Canadian Economic History
A historical survey of persistence and change in the Canadian economy from the eighteenth to the twentieth centuries. (Also listed as History 24.235.)
Prerequisite: Economics 43.100 or First-Year Seminar 01.103, or permission of the Department.
Lectures three hours a week.

Economics 43.240*
Economic Applications of Mathematics
Optimization, with and without constraints, and comparative static methods applied to models such as utility maximization and least cost production; homogenous functions; compounding and exponential functions; economic models involving integration; the use of matrix algebra and differential equations.
Prerequisites: Economics 43.100 or First-Year Seminar 01.103, and Mathematics 69.109* and 69.119*. Enrolment in this course is limited to students whose major is Economics or Business.
Lectures three hours a week.

Economics 43.254*
Essentials of Business Finance
Business firms' financing, capital investment, and dividend policy decisions, cost of capital and short-term asset management problems. (Also listed as Business 42.254«.)
Precludes additional credit for Economics 43.250*.
Prerequisites: Business 42.104* and Business 42.105* (or 42.101* and 42.102*) with grade of C- or better in each. For students in the Bachelor of International Business or in the Management Concentration in Civil and Environmental Engineering: Business 42.270* (with a grade of C- or better).
Lectures three hours a week.

Economics 43.255*
Business Finance
Capital investment and financing decisions in the context of risk and return tradeoffs. Primary and derivative securities, and their role in risk management. Topics include mergers, corporate restructuring, the theory of principal-agent relationships, and financial planning, forecasting, and control. (Also listed as Business 42.255*.)
Precludes additional credit for Economics 43.250*.
Prerequisites: Economics 43.254*, Economics 43.100 or First-Year Seminar 01.103, Mathematics 69.109* (or its equivalent) and 69.119* (or its equivalent). For students in the Bachelor of International Business program the Mathematics courses can be replaced by Business 42.173. For students in the Management Concentration in Engineering, Economics 43.100 can be replaced by Civil and Environmental Engineering 91.380*.
Lectures three hours a week.

Economics 43.305*
Selected Topics in Economic History
Examination of the economic development of North America or Europe or other possible selected sets of countries. Countries examined vary from year to year.
Prerequisite: Economics 43.100 or First-Year Seminar 01.103, or permission of the Department.
Lectures three hours a week.

Economics 43.310*
Women in the Economy
Topics include women's and men's paid work and earnings; discrimination; unpaid work and the value of household production; family decision making and intra-household resource allocation; gender and macroeconomic policy; women and poverty; feminist approaches to economic theory.
Prerequisites: Economics 43.100 or First-Year Seminar 01.103.
Lectures three hours a week.

Economics 43.320*
Economics of Information and the Media
An introduction to the economics of information and the media, with a focus on the analysis of production and distribution of information, the application of theory to selected communications-media industries in Canada, and the analysis of existing Canadian policies.
Precludes additional credit for Economics 43.425*.
Prerequisite: Economics 43.100 or First-Year Seminar 01.103.
Lectures three hours a week.

Economics 43.324*
An Economic Analysis of Law
An introduction to the application of economic principles and methodology to a variety of legal problems with particular emphasis on the theory of property rights and the allocation of resources.
Prerequisite: Economics 43.100 or First-Year Seminar 01.103.
Lectures three hours a week.

Economics 43.325
The Economic Development of Canada
A general survey of Canadian economic development from 1534 to 1970.
Prerequisite: Economics 43.100 or First-Year Seminar 01.103, or permission of the Department.
Lectures three hours a week.

Economics 43.326*
Economic Theories of Federalism
Economic dimensions of federalism, with reference to Canadian experience. Issues include: fiscal federalism; impact of federal economic policies on provincial economies, decentralization possibilities for fiscal and economic development policies, consequences of policies such as provincial trade barriers and impediments to factor flows.
Prerequisite: Economics 43.100 or First-Year Seminar 01.103.
Lectures three hours a week.

Economics 43.330*
Public Policy Toward Business
The interaction of government and business in the Canadian economy. Reasons for government involvement in selected public policy areas. Topics covered may include competition policy, regulation of firms by boards and commissions, environmental regulation and public enterprise.
Precludes additional credit for Economics 43.431*.
Prerequisite: Economics 43.100 or First-Year Seminar 01.103.
Lectures three hours a week.

Economics 43.335
Political Economy in the Modern State
An examination of the role of government in the economy, with special emphasis on alternate forms of social co-ordination and the advantages and disadvantages of each form in the Canadian
system.
Prerequisite: Economics 43.100 or First-Year Seminar 01.103.
Lectures two hours a week.

Economics 43.341*
Regional Economics
Unequal distribution of economic activity between spatially defined regions. The pattern in Canada since World War II, and the outlook for the future is evaluated, considering "natural" adjustment mechanisms, and policy tools.
Prerequisite: Economics 43.100 or First-Year Seminar 01.103.
Lectures three hours a week.

Economics 43.342*
Special Studies in Economics
Content of this course varies year by year, topics to be determined by the instructor invited to offer the course.
Prerequisite: Economics 43.100 or First-Year Seminar 01.103.
Lectures three hours a week.

Economics 43.344*
Economic Thought and Policy in Canada
An account of the interrelationship between economic theories expounded in Canada and their issue in national policy.
Prerequisite: An introductory course in one of the social sciences or Canadian history.
Lectures three hours a week.

Economics 43.346*
Agricultural Economics
An examination of the agricultural industry in the national economy and in low-income societies. The course emphasizes the working out of the basic forces that determine supply-demand for the industry and the functional distribution of income among the factors of production. Prerequisite: Economics 43.100 or First-Year Seminar 01.103.
Lectures three hours a week.

Economics 43.347*
Public Finance: Taxation
Role and nature of the government sector in the economy, principles of taxation, tax equity, incidence and excess burden of taxes, structure of taxes in the economy, role of personal, corporate, sales and wealth taxes, fiscal stabilization policy, and economics of public debt.
Precludes additional credit for Economics 43.303* and 43.441*.
Prerequisite: Economics 43.100 or First-Year Seminar 01.103.
Lectures three hours a week.

Economics 43.348*
Public Finance: Expenditure
The role and nature of the government sector in the economy, the theory of public goods, the equity and efficiency effects of public expenditures, voting rules and fiscal politics, techniques of public expenditure analysis, and intergovernmental fiscal relations.
Precludes additional credit for Economics 43.303* and 43.442*.
Prerequisite: Economics 43.100 or First-Year Seminar 01.103.
Lectures three hours a week.

Economics 43.350*
Corporate Finance
An examination of the major issues in corporate finance and applied financial management. Topics include: introduction to portfolio theory, the capital asset pricing model, cost of capital, capital structure and dividend policy, lease financing, capital budgeting under uncertainty, mergers and consolidations. (Also listed as Business 42.350*.)
Prerequisites: Economics 43.202*, 43.250* or 43.255*, and 43.220 or Mathematics 69.267*.
Lectures three hours a week.

Economics 43.351*
Principles of Investments
Procedures and methods of investment analysis. The stock and bond markets. Government regulation of securities markets. Valuation of common stocks and fixed income securities. Options, warrants, convertibles and commodities. (Also listed as Business 42.352*.)
Prerequisites: Economics 43.250* or 43.255*, and Economics 43.220 or Mathematics 69.267*.
Lectures three hours a week.

Economics 43.356*
Introduction to Labour Economics
Basic principles of labour economics including market, institutional and sociological forces. Issues such as technology and labour demand, wage systems, human capital, internal wage structure, market discrimination, female labour-force entry, wage/price spiral, household labour supply, wage determination are considered.
Prerequisite: Economics 43.100 or First-Year Seminar 01.103.
Lectures three hours a week.

Economics 43.357*
Introduction to Industrial Relations
An introduction to industrial relations covering such topics as: industrial relations systems, the functioning of trade unions, collective bargaining in Canada and Canadian public policy in industrial relations. (Also listed as Business 42.317*.)
Prerequisite: Economics 43.100 or First-Year Seminar 01.103.
Lectures three hours a week.

Economics 43.360*
Topics in International Economics
Possible topics include theory and policy in international trade, finance, investment and development. Intended for students planning to take only 0.5 credit in international economics at the 300-level.
Precludes additional credit for Economics 43.361*, 43.362*, 43.461*, and 43.462*.
Prerequisite: Economics 43.100 or First-Year Seminar 01.103, or permission of the Department.
Lectures three hours a week.

Economics 43.361*
Introduction to International Trade
An extension of the basic principles of economics to international trade. Topics covered include the theory of international specialization, tariffs and other barriers to trade, trade liberalization and economic integration, international movements of labour and capital, trade and development.
Precludes additional credit for Economics 43.360* and 43.461*.
Prerequisite: Economics 43.100 or First-Year Seminar 01.103.
Lectures three hours a week.

Economics 43.362*
International Monetary Problems
A discussion of the theory and institutions of the international monetary system, and the related balance of payments problems of nation states.
Precludes additional credit for Economics 43.360* and 43.462*.
Prerequisite: Economics 43.100 or First-Year Seminar 01.103.
Lectures three hours a week.

Economics 43.363*
Introduction to Economic Development
A discussion of the principles of economic development. Application to the problems of the developing countries.
Prerequisite: Economics 43.100 or First-Year Seminar 01.103.
Lectures three hours a week.

Economics 43.364*
Development Planning and Project Evaluation
An Introduction to the tools used in the planning and evaluation of development projects. Topics include the theory, application, strengths and limitations of cost-benefit analysis and competing approaches, and an examination of project evaluation techniques.
Prerequisite: Economics 43.100 or First-Year Seminar 01.103.
Lectures three hours a week.

Economics 43.367*
Monetary and Financial Institutions
This course examines the behaviour of financial intermediaries and institutions, such as the Bank of Canada, banks and trust companies, and regulatory bodies such as the Canada Deposit Insurance Corporation and the Superintendent of Financial Institutions.
Prerequisite: Economics 43.100 or First-Year Seminar 01.103.
Lectures three hours a week.

Economics 43.370*
The Economics of Transition
The transition from state ownership and central planning to mixed ownership structure with resource allocation by market mechanisms. "Classical socialism" is criticized and the processes of transition in countries of Central and Eastern Europe, the former Soviet Union and Asia are compared.
Precludes additional credit for Economics 43.371* and 43.372*.
Prerequisite: Economics 43.100 or First-Year Seminar 01.103.
Lectures three hours a week.

Economics 43.380*
Topics in Canadian Economic Policy
Economic analysis applied to selected policy areas, issues or institutions. One or more of the following topics may be dealt with: decision-making by bureaucratic institutions, policy problems arising from poverty, the economics of natural resources and pollution, urban economics.
Prerequisite: Economics 43.100 or First-Year Seminar 01.103.
Lectures three hours a week.

Economics 43.385*
The Economics of Natural Resources
This course is concerned with the application of economic analysis to questions concerning natural-resource use, management and conservation, as well as market failures and environmental effects. Policy problems relating to natural resources are discussed.
Prerequisite: Economics 43.100 or First-Year Seminar 01.103.
Lectures three hours a week.

Economics 43.386*
Environmental Economics
Microeconomic analysis of environmental issues. Frameworks for measuring environmental costs and benefits. The efficiency of alternative pollution control policies. Applications include air and water pollution and global environmental problems such as ozone depletion and global warming.
Prerequisites: Economics 43.100 or First-Year Seminar 01.103, or Engineering 91.380*.
Lectures three hours a week.

Economics 43.404*
Operations Research I
Linear programming, duality, sensitivity analysis, transportation and network problems. Both theory and a wide range of applications are studied.
Precludes additional credit for Business 42.230* and Mathematics 69.381*.
Prerequisites: Mathematics 69.109* and 69.119* (grade of C- or better in each course).
Lectures three hours a week.

Economics 43.405*
Operations Research II
Dynamic programming, inventory models, queuing, simulation, non-linear programming. (Also listed as Business 42.435*.)
Prerequisites: Economics 43.404«, or Business 42.230«, or Mathematics 69.381«, and Economics 43.220 (grade of C- or better) or Mathematics 69.267« (grade of C- or better).
Lectures three hours a week.

Economics 43.406*
Economics of Uncertainty and Information
Uncertainty, imperfect information and asymmetric information in the allocation of resources and the performance of markets and alternative co-ordinating mechanisms.
Prerequisites: Economics 43.220 or Mathematics 69.266* and 69.267*, and Economics 43.202*, with a GPA of 4.0 or better on these prerequisites.
Lectures three hours a week.

Economics 43.407*
Statistical Decision Theory
Bayesian and classical approaches to decision-making under uncertainty for individuals and firms.
Precludes additional credit for Business 42.436*.
Prerequisite: Economics 43.220 or Mathematics 69.266* and 69.267* (grade of C- or better).
Lectures three hours a week.

Economics 43.408*
Advanced Corporate Finance
An in-depth examination of some of the major theoretical issues in corporate finance. This course requires analyses and presentations of both articles from the finance literature and case studies. (Also listed as Business 42.450*.)
Prerequisite: Economics 43.350* (grade of C- or better).
Lectures three hours a week.

Economics 43.410*
Finance and Capital Markets
Analysis of Canada's financial markets with reference to differing classes of institutional lenders and borrowers; relationships of non-bank financial intermediaries to the banking system, regulatory agencies and the public; impact of these institutions on corporate financial policy and access to foreign capital markets. (Also listed as Business 42.453*.)
Prerequisites: Economics 43.202*, 43.203*, 43.212*, and 43.220 or Mathematics 69.267*(a grade of C- or better is required in each course.)
Lectures and seminars three hours a week.

Economics 43.411*
Investment Management
Analysis of investment requirements for individuals and institutional investors: liquidity, risk and return; portfolio design, construction, management and control; performance measurement; capital market theory. (Also listed as Business 42.452*.)
Prerequisite: Economics 43.351* (grade of C- or better).
Lectures three hours a week.

Economics 43.415
History of Economic Thought
Crucial achievements in economic theory and doctrine in the nineteenth and twentieth centuries are studied. Special emphasis is given to the interrelationship between the social environment and economic thought, especially to the role of economics in the development of the national state and international institutions. Also offered at the graduate level, with additional or different requirements, as Economics 43.521 and 43.522, for which additional credit is precluded.
Prerequisite: Economics 43.202*, 43.203*, 43.212* and 43.213*, (with an average grade of C- or better), or permission of the Department.
Lectures and seminars three hours a week.

Economics 43.420*
Microeconomic Theory
Theory of individual economic behaviour, theory of exchange and production, general equilibrium, alternative theories of pricing, allocation and distribution. Elementary tools of mathematics are employed in the exposition of most topics.
Prerequisites: Economics 43.202* and 43.203*, with an average grade of C+ or better, 43.240* (with a grade of C- or better) and 43.220 (43.220 may be taken concurrently with 43.420*).
This course is required for students in the Honours program in Economics.
Lectures three hours a week.

Economics 43.421*
Macroeconomic Theory
Major controversies in macroeconomic theory. Topics such as: determination of national income, employment, price level and interest rates; commodity, labour and asset markets; fiscal and monetary stabilization policy.
Prerequisites: Economics 43.212* and 43.213*, with an average grade of C+ or better, 43.240* (with a grade of C- or better) and 43.220 (43.220 may be taken concurrently with 43.421*).
This course is required for students in the Honours program in Economics.
Lectures three hours a week.

Economics 43.425*
Advanced Economics of Information and Media
The economics of information production, its distribution through broadcasting, publishing or the Internet, its exchange through telephone and e-mail networks, its use in private and public organizations. An analysis of telecommunications, broadcasting, copyright, privacy and Internet policy.
Precludes additional credit for Economics 43.320*.
Prerequisites: Economics 43.201* or 43.202* and 43.203* (grade of C- or better in each course)
Lectures three hours a week.

Economics 43.426*
Topics in North American Economic History
An examination of methodology applicable to the analysis of economic history. Intensive examination of selected topics in North American economic history.
Prerequisites: Economics 43.202*, 43.203*, 43.212* and 43.213*, (with an average grade of C- or better on these prerequisites), or permission of the Department.
Lectures three hours a week.

Economics 43.427*
Topics in European Economic History
An examination of methodology applicable to the analysis of economic history. Intensive examination of selected topics in European economic history.
Prerequisites: Economics 43.202*, 43.203*, 43.212* and 43.213*, (with an average grade of C- or better on these prerequisites), or permission of the Department.
Lectures three hours a week.

Economics 43.431*
Industrial Organization I - Theory and Evidence
An examination of various theoretical and empirical studies of firm and market organization with emphasis on the pricing, advertising, investment and locational behaviour of firms in imperfectly competitive markets.
Precludes additional credit for Economics 43.330*, and 43.430.
Prerequisites: Economics 43.202* and 43.203*, or 43.201* (with an average grade of C- or better on these prerequisites).
Lectures three hours a week.

Economics 43.432*
Industrial Organization II - Policy and Applications
This course extends the theoretical material developed in Economics 43.431« and applies it to examine public policies toward business in Canada and in other market economies with emphasis on policies relating to regulation, competition, and innovation.
Precludes additional credit for Economics 43.430.
Prerequisite: Economics 43.431*.
Lectures three hours a week.

Economics 43.436*
Labour Economics
The application of price theory is applied to the labour market. Topics include models of labour supply and labour demand, human capital and the economics of education and unions and their impact on the labour market. Also offered at the graduate level, with additional or different requirements, as Economics 43.537, for which additional credit is precluded.
Precludes additional credit for Economics 43.435.
Prerequisites: Economics 43.202* or Economics 43.201* (with a grade of C- or better), or permission of the Department.
Lectures three hours a week.

Economics 43.439*
Applied Industrial Economics
This course examines the empirical application of microeconomics, with special emphasis on the Canadian economy. Topics include: consumer demand, firm production and investment, and industrial and trade structure.
Prerequisites: Economics 43.202*, 43.203*, and 43.220, (with a grade of C- or better on these prerequisites).
Lectures three hours a week.

Economics 43.441*
Public Sector Economics: Taxation
A discussion of the theory of taxation and an examination of empirical attempts to quantify the theory. Some topics of current interest, such as the redistribution of income in Canada and tax reform are examined.
Precludes additional credit for Economics 43.347*.
Prerequisites: Economics 43.202* and 43.203*, or 43.201*, (with an average grade of C- or better on these prerequisites).
Lectures three hours a week.

Economics 43.442*
Public Sector Economics: Expenditures
A discussion of the theory of government expenditures and an examination of empirical attempts to quantify the theory. Some topics of current interest, such as expenditures and grants in the Canadian federalism are examined.
Precludes additional credit for Economics 43.348*.
Prerequisites: Economics 43.202* and 43.203*, or 43.201* (with an average grade of C- or better on these prerequisites).
Lectures three hours a week.

Economics 43.445*
Welfare Economics
An examination of contemporary welfare economics and its applications. Also offered at the graduate level, with additional or different requirements, as Economics 43.545, for which additional credit is precluded.
Prerequisites: Economics 43.202* and 43.203*, or 43.201*, (with an average grade of C- or better on these prerequisites).
Lectures and seminars three hours a week.

Economics 43.446*
Economic Dynamics: Growth
An examination of modern steady equilibrium economic growth encompassing neoclassical, neo-Keynesian and neo-Ricardian theories of growth and accumulation. The theories of money and capital (and controversies) are examined in a growth context. Some discussion of optimum saving and accumulation is also included.
Prerequisites: Economics 43.202*, 43.203*, 43.212* and 43.213*, (with an average grade of C- or better on these prerequisites).
Lectures and seminars three hours a week.

Economics 43.447*
Project Evaluation
An analytic treatment of the principles of project evaluation and their applications. Also offered at the graduate level, with additional or different requirements, as Economics 43.547, for which additional credit is precluded.
Prerequisite: Economics 43.420* with a grade of C+ or better.
Lectures three hours a week.

Economics 43.451*
Economic Dynamics: Business Cycles
An analysis of the nature and causes of fluctuations in income, prices and employment. A review of theories of short-run economic dynamics, with particular references to how expectations are formed. Some consideration is given to countercyclical government policies.
Prerequisites: Economics 43.212* and 43.213*, (with an average grade of C- or better on these prerequisites).
Lectures and seminars three hours a week.

Economics 43.457*
The Economics of Development
An examination of some theoretical approaches to the economics of development, together with analysis of some economic policy issues of a largely internal character, such as intersectoral investment allocation, income distribution, unemployment, and investment in human development.
Prerequisites: Economics 43.202* and 43.203*, or 43.201*; and 43.212* and 43.213*, or 43.211*, (with an average grade of C- or better on these prerequisites).
Lectures three hours a week.

Economics 43.458*
International Aspects of Economic Development
An analysis of the international economic policy problems of development in Asia, Africa and Latin America, focusing on international trade, direct foreign investment, technological transfer, regional integration, debt and development financing, and international migration.
Prerequisites: Economics 43.202* and 43.203*, or 43.201*; and 43.212* and 43.213*, or 43.211*, (with an average grade of C- or better on these prerequisites).
Lectures three hours a week.

Economics 43.461*
International Trade Theory and Policy
International trade theory and its implications for economic policy. Topics such as determinants of trade and specialization, gains from trade and commercial policy, international factor mobility, growth and development.
Precludes additional credit for Economics 43.360* and 43.361*.
Prerequisites: Economics 43.202* and 43.203*, or 43.201*, (with an average grade of C- or better on these prerequisites).
Lectures three hours a week.

Economics 43.462*
International Monetary Theory and Policy
International monetary theory and its implications for economic policy. Topics such as sources of disequilibrium and adjustment in the balance of payments under fixed versus flexible exchange rates, international capital movements, and international monetary reform.
Precludes additional credit for Economics 43.360* and 43.362*.
Prerequisites: Economics 43.212* and 43.213*, or 43.211*, (with an average grade of C- or better on these prerequisites).
Lectures three hours a week.

Economics 43.465*
Industrial Relations
Economic analysis of selected industrial relations and labour market policy problems. Topics include unionization, strike activity, the economics of occupational health and safety, pension policy, and the impact of new technology on the labour market.
Precludes additional credit for Economics 43.465.
Prerequisites: Economics 43.201* or 43.202* (with a grade of C- or better); or permission of the Department.
Lectures three hours a week.

Economics 43.467*
Monetary Theory I
The foundations of monetary theory. Topics include classical, Keynesian and other money transmission mechanisms; the "optimum quantity of money;" estimates of supply and demand; difficulties of policy implementation in open and closed economies and in a growth context.
Prerequisites: Economics 43.202* and 43.203*, or 43.201*; and 43.212* and 43.213*, or 43.211*, (with an average grade of C- or better on these prerequisites).
Lectures three hours a week.

Economics 43.468*
Monetary Theory II
A continuation of Economics 43.467*. This course analyzes in depth some past and current controversies in monetary theory particularly as they relate to policy issues.
Prerequisite: Economics 43.467*.
Lectures three hours a week.

Economics 43.471*
National Accounting
Introduction to modern social accounting, including national income and expenditure accounts, input-output accounts, financial flow and national balance sheet accounts. Canadian practice concerning national wealth accounts, price and quantity indices and productivity measures, and the effects of inflation on national accounts.
Prerequisites: Economics 43.202*, 43.203*, and 43.212*, (with an average grade of C- or better on these prerequisites).
Lectures three hours a week.

Economics 43.476*
Econometrics I
An introduction to econometric theory and analysis of the classical normal regression model. Topics include estimation methods, hypothesis testing, multicollinearity, autocorrelation, and heteroscedasticity.
Precludes additional credit for Economics 43.485, 43.482*, Mathematics 69.353* and 70.355*.
Prerequisite: Economics 43.220 or equivalent, (with a grade of C+ or better).
Lectures three hours a week.

Economics 43.477*
Econometrics II
An extension of Economics 43.476«, Econometrics I. Topics include dummy variables, qualitative and limited dependent variables, and simultaneous equation models. Optional topics include simple expectations models, errors in variables, specification tests and diagnostics checks, distributed lag models, and seemingly unrelated regression models.
Precludes additional credit for Economics 43.485.
Prerequisite: Economics 43.476*, or Mathematics 69.353* or 70.355*, (with a grade of C- or better).
Lectures three hours a week.

Economics 43.480*
Research Seminar in Urban Economics
An enquiry into the internal dynamics of cities and inter-urban relationships primarily through directed research.
Prerequisites: Economics 43.202* and 43.203*, or 43.201*; and 43.220 or Mathematics 69.266* and 69.267*, (with an average grade of C- or better on these prerequisites).

Economics 43.483*
Applied Time Series Analysis in Economics and Business
An introduction to basic concepts of time series analysis with emphasis on model building and forecasts in economics and business. Topics include: models for stationary and nonstationary time series, model identification, estimation, computation of forecasts and transfer function models. Also offered at the graduate level, with additional or different requirements, as Economics 43.573, for which additional credit is precluded.
Prerequisites: Economics 43.220 (with a grade of C+ or better), or Mathematics 69.266* and 69.267* (or equivalent), (with an average grade of C+ or better).
Lectures three hours a week.

Economics 43.484*
Advanced Topics in Applied Econometrics
Advanced coverage of one or more areas of current interest in applied econometrics. An empirical research project may be required.
Prerequisites: Economics 43.476* and 43.477* (with an average grade of C- or better on these prerequisites).
Lectures three hours a week.

Economics 43.486*
Comparative Economic Systems I
This course builds a framework for comparing economic systems, and also considers the interaction between economic and political systems. The traditional Soviet-type economy, industrial policy, and problems of transition receive particular attention. Also offered at the graduate level, with additional or different requirements, as Economics 43.586, for which additional credit is precluded.
Prerequisite: Economics 43.201* or 43.202* (with a grade of C- or better), or permission of the Department.
Lectures three hours a week.

Economics 43.487*
Comparative Economic Systems II
A comparison of contemporary economic systems. Such diverse economies as mainland China, Japan, Germany, Sweden, Russia, Taiwan and Hungary may be explored. Also offered at the graduate level, with additional or different requirements, as Economics 43.587, for which additional credit is precluded.
Prerequisite: Economics 43.201* or 43.202* (with a grade of C- or better), or permission of the Department.
Lectures three hours a week.

Economics 43.490
Honours Seminar
This seminar focuses on the use of basic economic analysis in a small number of research topics to be selected by the instructors. A major research paper is required. This seminar is intended for Fourth-year Honours Economics students.
Prerequisites: Economics 43.420* and 43.421* or permission of the Department.
Lectures three hours a week.

Economics 43.493*
Tutorial in Economics
An additional tutorial in Economics may be taken subsequent to, or concurrently with Economics 43.490.
Prerequisite: Permission of the Department.

Economics 43.494*
Tutorial in Economics
An additional tutorial in Economics may be taken subsequent to or concurrently with Economics 43.490.
Prerequisite: Permission of the Department.

Economics 43.498
Honours Essay
Students taking Honours in Economics may write an Honours essay during their final year. This essay counts for one credit. Students work under an individual faculty adviser.
Prerequisite: Permission of the Department.

Carleton University
2001-2002 Undergraduate Calendar
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