Master of Applied Economics (MAEC)

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.

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.

This course builds strong foundations for applied economics courses and for economic research. While dealing with core areas of microeconomics, emphasis will be on applications of microeconomic tools to inform policy-making in important issues of the day, such as regulation, the effects of network externalities in the information economy, and outsourcing.

This course provides students with a strong grounding in the tools of modern macroeconomic theory, and how those tools can be applied to gain an understanding of macroeconomic events and for the evaluation and design macroeconomic policy and institutions. Topical issues such as the effects of high debt and financial crises will also be discussed.

This course provides an analytical framework for the study of monetary policy. Issues such as the role of financial markets and institutions, the monetary transmission mechanism, inflation targeting, and financial crises may also be discussed. Empirical studies will be incorporated to enhance student understanding and to highlight the policy relevance of course material.

This course will provide students with a solid working knowledge of the theory and practice of econometric modelling and forecasting. Topics include regression analysis, violation of classical assumptions, generalized least squares, model selection, dynamic models, time series econometrics, and applied forecasting methods. Applications using appropriate econometrics software will also be shown.

This course evaluates the state of knowledge in major policy areas, and how that knowledge can be used for the design and implementation of effective policies. Areas for study could include growth and macroeconomic stability; trade and aid; education and poverty; environment and sustainable development; health and nutrition; the theory and practice of development planning.

The goal of the course is to integrate theories with the empirical literature and recent policy debates on important issues such as optimal exchange rate policy and international financial integration. Topics include current account dynamics, theories of exchange rate determination, open-economy macroeconomic policy, international capital flows, currency crises, and business cycle models.

This course shows how trade theory provides insights into controversies in the international economy, as well as for the evaluation and formulation of trade policy with special reference to the role of international institutions and negotiations. Topics covered include the determinants of trade patterns, the impacts of tariffs, strategic trade policy, and the economics of regional integration.

This course develops student skills in the application of game theory to industrial organization issues. Students will learn to set up and solve fundamental game theory models to answer questions relating to product pricing and sales, R &D decisions, the formation of joint ventures, and advertising, to name a few.

This course examines the role of government in market economies, with a focus on expenditure policy, financing of the public sector through taxation, and intergovernmental fiscal relations. Students will work through a comprehensive empirical and theoretical guide that analyzes taxation and expenditure policies at all levels of government, in both the Canadian and international contexts.

This course will review the theoretical and empirical literature on labour market issues and international migration. Topics could include household labour supply, labour demand, labour migration and its management, the role of international trade, worker compensation, discrimination, industrial relations and unemployment. Public policy applications of these topics will be emphasized.

Social policy includes income security policy, family policies, income redistribution and poverty alleviation, health care, education and housing. The course covers alternative models of the welfare state, conceptual issues related to policy design, and empirical evidence of policy impacts. Select policy areas will be examined in depth, and while the emphasis is on Canada, comparative perspectives are included.

Drawing on behavioral economics, this course will debate advantages and disadvantages of alternative forms of enterprise and policy implications. Topics include cooperative principles and values; economic theory of cooperative firms and social enterprises; dual motives theory; the social and solidarity economy; cooperative and social networks; best practices and case studies.

Through this course, students will acquire a critical understanding of how economic decisions, market forces and government policies can affect the environment, and a sound knowledge of the theory and techniques of non-market valuation of environmental goods and services. Students will also be able to evaluate and design public policies towards the environment and natural resources.

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 greater depth and detail, and requires from the student some measure of independence and initiative.

This course builds student skills for conducting sound applied research, and for effectively communicating that research through presentations and written reports. Students will develop their understanding of the various elements of the research process through assigned reading and real-world empirical applications, proposal writing, policy analysis, and dealing with empirical challenges.

In this course, under the guidance of a supervisor, students will undertake a research project that will demonstrate their theoretical and quantitative modelling skills, and their ability to conduct valid empirical research. They will also present their work in the form of a written research paper.