1999-2000 Undergraduate Calendar Programs | ||
1999 - 2000 UNDERGRADUATE CALENDAR | ||
Carleton University |
(Public Affairs and Management)
C874 Loeb Building
Telephone: 520-3744
Chair, P.N. Rowe
Director of Doctoral Studies, Joint Ph.D. Program with the University of Ottawa, Rose Anne Devlin
Supervisors of Graduate Studies, M.A. Studies, F. Woolley
Supervisor of B.A. (Honours) Studies, J.C. McManus
Ph.D. Studies, R.A. Brecher
Supervisor of B.A. Studies, E.G. Davis
Professor Emeritus
E.G. West, M.Sc., Ph.D. (London)
A.L. Keith Acheson, B.A., Ph.D. (Toronto) Jeffrey I. Bernstein, B.A. (Sir George Williams), M.A., Ph.D. (Western Ontario) Richard Alan Brecher, B.A. (McGill), M.A., Ph.D. (Harvard) Richard LeeCarson, M.A. (Minnesota), Ph.D. (Indiana) E.U. Choudhri, M.A. (Panjab), Ph.D. (Chicago) Keith A.J. Hay, B.Sc. (Southampton), M.Sc. (Toronto) Kanta Marwah,M.A. (Punjab), Ph.D. (Pennsylvania) Donald G. McFetridge, B.Com.(Saskatchewan), M.A. (Toronto), M.Sc. (London School of Economics), Ph.D.(Toronto) Soo Bin Park, M.Eco. (Seoul), M.A., Ph.D. (Indiana) Archibald R.M. Ritter, B.A. (Queen's), M.A. (Western Ontario), Ph.D. (Texas) Douglas A. Smith, B.Com., M.A (Toronto), Ph.D. (Massachusetts Institute of Technology)
Zhiqi Chen, B.A. (Najing), M.A. (Carleton), Ph.D. (Western Ontario) Eric G. Davis, B.Sc. (Queen's), Ph.D. (Brown) Fanny Demers, B.A. (Bogazici), M.B.A. (McGill), M.A., Ph.D. (Johns Hopkins) Michel Demers, B.A., M.A. (McGill), M.A., Ph.D. (Johns Hopkins) Brian Erard, B.A. (Notre Dame), M.A., Ph.D. (Michigan) J.S. Ferris, B.Com., M.A. (Toronto), Ph.D. (California) John C. McManus, B.A., M.A. (Western Ontario), Ph.D. (Toronto) Simon Power, B.A. (Durham), M.A. (London), M.A. (Saskatchewan), Ph.D. (Western Ontario) P. Nicholas Rowe, B.A. (Stirling), M.A., Ph.D. (Western Ontario) Huntley Schaller, B.A. (McGill), Ph.D. (Massachusetts Institute of Technology) Lawrence L. Schembri, B.Com. (Toronto), M.Sc. (London), Ph.D. (Massachusetts Institute of Technology) Aileen Thompson, B.A. (Smith College), Ph.D. (Michigan), Frances Woolley, B.A. (Simon Fraser), M.A. (Queen's), Ph.D. (London School of Economics).
Keir Armstrong, B.A. (Toronto), Ph.D. (British Columbia) Nancy Churchman, B.A. (Carleton), M.A., Ph.D. (Toronto)
C.J. Maule Carl H. McMillan, Jr. T.K. Rymes
J. Baldwin H.E. English J.A. Galbraith
Caswell L. Johnson R.F. Neill
In order to graduate, students must fulfill all University graduation regulations, (see p. 48) all Faculty regulations including those relating to First-Year Seminars and Breadth requirements (see p. 63), and all Major regulations and requirements as set out below.
Students intending to pursue courses in Economics beyond the introductory level are required to take Mathematics 69.007* if they lack an OAC in Calculus, and 69.017* if they lack an OAC in Algebra and Geometry.
The Honours programs may be entered in First year or by transfer from the B.A.
programs if minimum Honours standing has been obtained. The student's program
for the second and subsequent
years must be planned in consultation with the Supervisor of Honours Studies
of the Department.
Honours in Economics
The requirement for an Honours degree is a minimum of 20.0 credits with at least 9.0 credits in Economics and 1.0 credit in Mathematics. The Honours requirements include: Mathematics 69.109* and 69.119* or equivalent; Economics 43.100 or First-Year Seminar 01.103, 43.202*, 43.203*, 43.212*, 43.213*, 43.220, 43.240*, 43.420*, 43.421*, 43.476*, 43.490, plus 2.0 additional credits in Economics at the 400-level.
An Honours Essay (Economics 43.498) with a grade of B- or better may be written
to earn 1.0 credit at the 400-level, and can replace the Economics 43.490 requirement.
Students who choose to do the Honours Essay must have a detailed outline of
the Essay approved by their adviser and by the Honours Supervisor before the
last day for withdrawal from full-credit courses. In the
absence of such an approved outline, the Department may require the student
to withdraw from the Honours Essay.
For students graduating in the Honours program in Economics, the overall graduation average shall be calculated over all successfully completed, graded courses used to meet the degree requirements. The graduation average in Economics shall be calculated over all successfully completed, graded required Economics courses counting towards the degree. Where more than the required minimum of non-specified Economics courses has been taken, the courses with the highest grades shall be used in the calculation of the graduation average.
Minor in Economics
Students may obtain a "Minor in Economics" designation on their transcript and diploma by completing the 4.0 credits specified below, with a GPA of 4.0 or better in Economics.
Required Courses (2.0 credits)
43.100 or First-Year Seminar 01.103, 43.201* or 43.202*, 43.211* or 43.212*.
2.0 additional credits in Economics beyond the 100-level.
(Of these 4.0 credits, 2.0 must be taken at Carleton University)
Normal Course Pattern in Honours Economics
First Year: Economics 43.100 or First-Year Seminar 01.103, Mathematics 69.109* and 69.119*.
Second Year: Economics 43.202*, 43.203*, 43.212*, 43.213*, 43.220, 43.240*.
(Students should note that: an average grade of C+ or better in 43.202* and 43.203* is required to take 43.420*; an average grade of C+ or better in 43.212* and 43.213* is required to take 43.421*; a grade of C+ or better in 43.220 is required to take 43.476*.)
Third Year: Economics 43.420* and 43.421*, 43.476*, 0.5 additional Economics credit at the 400-level.
Fourth Year: Economics 43.490, 1.5 Economics credits at the 400-level.
Other course patterns may be arranged after consultation with the Supervisor of Honours Studies.
B.A. (Honours) with a Concentration in Financial Economics
Core Economics courses for this concentration are:
Economics 43.100 or First-Year Seminar 01.103, 43.202*, 43.203*, 43.212*, 43.213*, 43.220, 43.240*, 43.420*, 43.421*, 43.476*, 43.490 or 43.498.
Required Concentration Courses:
42.101*, 42.102*, 43.254* (42.254*), 43.255* (42.255*), 43.350* (42.350*), 43.351* (42.351*), 43.408* (42.450*), 43.411* (42.452*).
Normal Course Pattern for the B.A. (Honours) with a Concentration in Financial Economics:
First Year: Economics 43.100 or First-Year Seminar 01.103; Business 42.101* and 42.102*; Mathematics 69.109* and 69.119*; 2.0 credits options
Second Year: Economics 43.202* and 43.203*, 43.212* and 43.213*, 43.220, 43.240*, 43.254* (42.254*), 43.255* (42.255*), 0.5 credit option
Third Year: Economics 43.420* and 43.421*, 43.476*, 43.350* (42.350*), 43.351* (42.351*), 2.5 credits options
Fourth Year: Economics 43.490/43.498, 43.408* (42.450*), 43.411* (42.452*), 3.0 credits options
The minimum GPA required in the courses in this concentration is 6.5. The concentration in Financial Economics is available to students in the B.A. program. However, it is unlikely that a student could meet the requirements of the concentration within the 15.0 credits required for the B.A. degree.
Combined Honours
Students may apply for Combined Honours in Economics and another discipline. Students should consult the Supervisor of Honours Studies.
Students in the Combined Honours program are normally required to take 1.0 credit in Mathematics and at least 7.0 credits in Economics, of which 2.5 credits are at the 400-level. The requirements are: Mathematics 69.109* and 69.119* or equivalent; Economics 43.100 or First-Year Seminar 01.103, 43.202*, 43.203*, 43.212*, 43.213*, 43.220, 43.240*, 43.420*, 43.421*, 43.490, and an additional 0.5 credit at the 400-level. The Honours Essay (Economics 43.498) with a weight of 1.0 credit, requiring a grade of B- or better, may be written in Economics and can replace the Economics 43.490 requirement.
The minimum of 20.0 credits and the procedure for computing final standing described above apply to the Combined Honours program.
The Combined Honours programs in four related fields are described in greater detail below.
Normal Course Pattern in Combined Honours in Economics
First Year: Economics 43.100 or First-Year Seminar 01.103; Mathematics 69.109* and 69.119*.
Second Year: Economics 43.202*, 43.203*, 43.212*, 43.213*, 43.220 (or recognized equivalent), 43.240*.
Third Year: Economics 43.420* and 43.421*.
Fourth Year: Economics 43.490 and 1.0 additional 0.5 credit in Economics at the 400-level.
Other course patterns may be arranged after consultation with the Supervisor of Honours Studies.
Combined Honours in Economics and Political Science
The program requires 1.0 credit in Mathematics (69.109* and 69.119*), 7.0 credits in Economics and 6.0 credits in Political Science. The Economics requirements include:
Economics 43.100 or First-Year Seminar 01.103, 43.202*, 43.203*, 43.212*, 43.213*, 43.220, 43.240*, 43.420*, 43.421*, 43.490 and 0.5 credit at the 400 level.
Combined Honours in Economics and Journalism
Students in this program are required to complete a total of 20.0 credits (20.5 credits if admitted prior to 1995-96) and may choose to graduate with either a B.A. (Honours) or B.J. (Honours). The Economics requirements are Mathematics 69.109* and 69.119*, Economics 43.100 or First-Year Seminar 01.103, 43.202*, 43.203*, 43.212*, 43.213*, 43.220, 43.240*, 43.420*, 43.421*, 43.490; 1.0 approved credit in Economic History and 0.5 credit option in Economics at the 400-level. The Journalism requirements are: a language course, preferably French, (acceptable 100-level French courses are one of French 20.120, 20.130, 20.140 or 20.150), Journalism 28.100, 28.221, 28.225*, 28.251*, 28.400, 28.421, and two of 28.425*, 28.426*, 28.427*, 28.428*.
Combined Honours in Economics and Sociology
The Economics requirements are: Mathematics 69.109* and 69.119*, Economics 43.100 or First-Year Seminar 01.103, 43.202*, 43.203*, 43.212*, 43.213*, 43.220 (or Sociology 53.370), 43.240*, 43.420*, 43.421*, 43.490 and a 0.5 credit at the 400-level.
See also p. 441 and consult the Department of Sociology and Anthropology.
B.A. Program in Economics
The requirements are: Mathematics 69.109* and 69.119* and at least 6.0 credits in Economics: Economics 43.100, or First-Year Seminar 01.103; 43.202*, 43.203*, 43.212*, 43.213*, 43.220, and 2.0 other credits in Economics. Students are normally permitted to major in Economics only if they have obtained a grade of C- or better in Economics 43.100 or First-Year Seminar 01.103.
A B.A. student must maintain a GPA of 4.0 or better to remain in the program. For purposes of determining a B.A. student's average at graduation, only the 6.0 required credits in Economics (i.e. excluding 69.109* and 69.119*) will be considered.
The Department of Economics offers studies leading to the degree of Master of Arts and to the degree of Doctor of Philosophy. For further details consult the Graduate Studies and Research Calendar.
Category for Breadth | Courses in this unit |
The temporal dimension of human societies, analyzing times before the present era or societies other than our own | (43.)235 |
The artifacts of the imagination in literature and/or other forms, or that addresses the life of the imagination and culture. | |
The understanding of social, technological and/or natural processes and the ways in which that understanding is obtained in science and social science. | All Economics courses not listed in any other category |
Matters of human values, ethics and social responsibilities |
Not all of the following courses are offered in a given year. For an up-to-date statement of course offerings for 1999-2000, please consult the Registration Instructions and Class Schedule booklet published in the summer.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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. The place of institutions is examined and public policy is critically reviewed.
Prerequisite: Economics 43.100 or First-Year Seminar 01.103.
Lectures three hours a week.
The role and nature of the government sector in the economy, the principles of taxation, tax equity, the incidence and excess burden of taxes, the structure of taxes in the Canadian economy, the role of personal, corporate, sales and wealth taxes in the economy, fiscal stabilization policy, and the 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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
Linear programming, duality, sensitivity analysis, transportation and network
problems. Both theory and a wide range of applica
tions 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.
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.
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.
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.
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.
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.
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.
The 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.
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.
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.
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.
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.
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.
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.
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.
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.
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*
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.
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.
An examination of contemporary welfare economics and its appli
cations. 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.
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. Also offered at the graduate level, with additional or different requirements, as Economics 43.552, for which additional credit is precluded.
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.
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.
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. Also offered at the graduate level, with additional or different requirements, as Economics 43.551, for which additional credit is precluded.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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 additiona 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.
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).
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 os 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.
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.
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.
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.
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.
An additional tutorial in Economics may be taken subsequent to, or concurrently with Economics 43.490.
Prerequisite: Permission of the Department.
An additional tutorial in Economics may be taken subsequent to or concurrently with Economics 43.490.
Prerequisite: Permission of the Department.
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.