Economics (ECON)

Theory of consumer behaviour and demand, theory of production and cost, behaviour of the firm, theory of price and output under different market structures, and the theory of factor markets.

Measurement of macroeconomic variables; models of aggregate income and price determination; unemployment and inflation; macroeconomic policy debates.

An introduction of the role of mathematics in economic analysis. Mathematical topics include linear algebra, partial differentiation, implicit function theorems and comparative statics analysis, unconstrained and constrained optimization theory.

A further study of the basic concepts of statistics and its application to the solution of business and economic problems: review of probability, random variables and their distribution, sampling and sampling distributions, normal and associated distribution, statistical inference, simple and multiple regression and related topics.

Students study the advanced treatment of the theories of consumer behaviour and the firm with special emphasis on duality theory, general equilibrium theory, and welfare economics. Topics may include choice under uncertainty and game theory.

Students study the microeconomic foundations of macroeconomics, inflation, interest rates, exchange rates, labour markets and unemployment; investment and real business cycles; economic growth.

Students examine the theory and applications of econometric models and their estimation. Topics include generalized least squares, dynamic econometric models, the analysis of time series models, and models with qualitative variables.

Students examine issues related to the global economy, including national economic policies and economic growth. Students analyze how microeconomic entities interface with natural resources, economic development and international trade. They examine the phenomenon of globalization and develop an understanding of the ever increasing interdependence amongst the world’s various economic agents.

This course deals with such topics as competition policy, technological change in industry, behaviour under uncertainty, and the economics of regulation. It draws on theories of industry structure, conduct and performance, and emphasizes applications in the Canadian context.

Business decision making relies heavily on information, and forecasting is an important tool in the provision and analysis of information. Recent advances in forecasting methodology and computer technology have opened new and challenging avenues for modeling and forecasting in the business area. This course aims to provide students with a working knowledge of forecasting models and methods (with particular emphasis on newer developments) that they may usefully be applied in a real-world setting.

This course examines the structure and dynamics of natural resource industries and their biological, economic, social, administrative and technological components. The course will cover such topics as: the role of natural resources in society; objectives of integrated natural resource development; the nature of sustainable development and environment-economy interactions in the resource sector; options for management of resources and resource industries; economics of sustainable resource use; methods for analyzing resource use choices; case studies. This will be an interdisciplinary course, drawing on elements of economics, management and management science. It will give the student a grounding in natural resource management, with emphasis on the theoretical and practical application of ‘sustainable development’ to the resource sector.

This course deals with selected aspects of public policy. Issues related to public goods, externalities, fiscal federalism, tax incidence theory, direct taxation, indirect taxes, public debt and stabilization policy may be covered.

This course deals with business and public policy issues. Topics may include the market mechanism, market structures, regulation of industry and competition policy, aggregate economic activity, business cycles, stabilization policy, public debt, and other issues of current interest.

This course focuses on the use of economic principles to understand the environmental impacts of business and household activity. The issues discussed include: causes of air and water pollution; endangered species; and the environmental impacts of human activity in fisheries, forestry and mining industries. Methods of environmental management, with special emphasis on the potential role of economic institutions and instruments, are discussed. Some discussion of current Canadian policy issues is also undertaken.

An overview of the central themes in international trade and finance, with presentation of current policy issues and debates. Topics include: gains from trade; regional integration; multilateral trade liberalization; scale economies and trade; foreign exchange rate determination; exchange rate regimes; foreign exchange intervention and stabilization policy.

This course deals with selected topics in economics. It is offered when in sufficient demand, and specific topics covered may vary depending on the interests of students and instructors. Classes and independent study. 1 semester.

This course supplements and provides an alternative to the regular economics courses in order to meet the special needs and interests of students. It also provides an opportunity to study a particular subject in detail and requires from the student some measure of independence and initiative.