Economics Courses

Description: This course examines selected topics in microeconomic analysis such as general equilibrium analysis, welfare economics, the theory of the firm, factor pricing, and income distribution.

Component(s): Lecture; Tutorial

• This course is cross-listed with an undergraduate 400-level course.

Description: This course examines selected topics in macroeconomic analysis such as the construction of models including the labour market, the goods market, and financial markets; the role of monetary and fiscal policies; classical, Keynesian, and post-Keynesian models.

Component(s): Lecture; Tutorial

• This course is cross-listed with an undergraduate 400-level course.

Description: This course covers the evolution of economic thought from the Greek philosophers up to (and including) Classical economics. It seeks to provide the student with an outline of the development of economic analysis in this period.

Component(s): Lecture

• This course is cross-listed with an undergraduate 400-level course.

Description: This course covers the evolution of economic thought from the Historical School to modern controversies in economic reasoning, which includes a comparative treatment of Keynesian economics and Monetarism.

Component(s): Lecture

• This course is cross-listed with an undergraduate 400-level course.

Description: This course reviews various theories explaining the causes of economic fluctuations and the determinants of economic growth. It also examines issues relevant to macroeconomic stabilization policies.

Component(s): Lecture

• This course is cross-listed with an undergraduate 400-level course.

Description: This course offers an advanced treatment of selected topics related to issues in economic development. Particular emphasis is placed on models of growth and structural change, such as the two-gap model, input-output analysis, and computable general equilibrium models. Trade and industrial policies, fiscal and financial policies, as well as public-sector policies including taxation, spending, and cost-benefit analysis are also discussed.

Component(s): Lecture

• This course is cross-listed with an undergraduate 400-level course.

• Students who have received credit for ECON 511 may not take this course for credit.

Description: This course builds on the classical linear regression model as well as introducing time series models involving both stationary and non-stationary variables. Topics may include random regressors, method of moments estimation and a variety of models involving simultaneous equations, VEC, VAR, ARCH, panel, qualitative and limited dependent variables. Students continue to build on their knowledge of data management and a statistical software package through the application of these concepts and theories.

Component(s): Lecture; Tutorial

• This course is cross-listed with an undergraduate 400-level course.

Prerequisite/Corequisite: The following courses must be completed previously: ECON 521.

Description: This course is intended for those interested in further developing their knowledge of econometrics and/or those contemplating pursuing graduate studies in economics. It re-examines the properties, assumptions and interpretation of the classical linear regression model and the maximum likelihood model through the use of matrix algebra. Students continue to build on their knowledge of data management and a statistical software package through the application of these concepts and theories.

Component(s): Lecture

Description: This course focuses on the development of skills in the analysis of both time-series and cross-sectional data. Time-series topics may include univariate stationary time series models, forecasting, unit-root theory, trend-stationarity, and testing and applications. Cross-sectional topics may include logit, probit and linear probability models. Students may also analyze large-survey microdata.

Component(s): Lecture

• This course is cross-listed with an undergraduate 400-level course.

Description: This course gives students the requisite mathematical background for graduate studies in economics. Topics include algebraic methods, and static and dynamic optimization techniques needed for the study of economic theory and econometrics. Difference and differential equations are also examined.

Component(s): Lecture; Tutorial

• This course is cross-listed with an undergraduate 400-level course.

Description: This is a course in the field of applied economics, with a focus on transportation economics. Topics may include the evaluation of the economic benefits of various transportation systems, the social costs of transportation, road pricing, government participation in transportation finance and urban planning, the redistributive and other economic effects of transportation investment.

Component(s): Lecture

• Students who have received credit for this topic under an ECON 598 number may not take this course for credit.

Description: This course examines the nature of the Monetarist-Keynesian controversy and gives a critical appraisal of the IS-LM-AS model. Topics covered may include the term structure of interest rates, post-Keynesian theories of money supply and demand as well as issues in macroeconomic policy theory such as transmission mechanisms, policy coordination and implementation lags, and international constraints.

Component(s): Lecture

• This course is cross-listed with an undergraduate 400-level course.

Description: Description: This course introduces students to the theory and practice of finance as seen from the economist’s point of view. In particular, it examines the following topics: the theory of decision-making under uncertainty; the basic portfolio models, such as the CAPAM and the APT; equilibrium aspects of financial markets, such as the role of arbitrage in the pricing of financial assets; the pricing of derivative securities, such as
options.

Component(s): Lecture

• This course is cross-listed with an undergraduate 400-level course.

• Students who have received credit for this topic under an ECON 598 number may not take this course for credit.

Description: This course focuses on the effects of taxation on economic behaviour. Major topics considered include the excess burden of taxation in decisions to supply effort, savings and investment, the incidence of corporate taxation, and the design of commodity taxation. Among policy issues, topics such as tax evasion, and the taxation of multinational enterprises are examined.

Component(s): Lecture

• This course is cross-listed with an undergraduate 400-level course.

• Students who have received credit for ECON 535 may not take this course for credit.

Description: This course examines the economic consequences of public expenditure on the economy. Topics covered include public goods, externalities, the theory of welfare measurement, public investment criteria, pricing policy of public enterprises, public choice and intergovernmental fiscal relations.

Component(s): Lecture

• This course is cross-listed with an undergraduate 400-level course.

• Students who have received credit for ECON 535 may not take this course for credit.

Description: This course focuses on the design and analysis of market mechanisms, which are concerned with how to construct rules for allocating resources and how to structure successful marketplaces. It draws on tools of game theory to identify why certain market rules or institutions succeed and why others fail. Topics may include matching markets, auctions, contracts, economic platforms and network effects. The main objectives of this course are to introduce students to some of the fundamental concepts and ideas in the theory of market design and to connect this theory to real-life markets and to practical aspects of market design policy.

Component(s): Lecture

• Students who have received credit for this topic under an ECON 598 number may not take this course for credit.

Description: This course examines the foundations of international trade, the origins of gains from trade, factor-price equalization, tariffs, Canadian trade policy, the role of trade in development, and economic integration.

Component(s): Lecture

• This course is cross-listed with an undergraduate 400-level course.

Description: This course is an introduction to theory of national income determination in open economies with capital mobility. It includes analyses of balance of payments, exchange rate, and the role of monetary and fiscal policies under different exchange rate regimes. Among other issues covered are international policy coordination, optimum currency areas, and features of the international monetary system.

Component(s): Lecture

• This course is cross-listed with an undergraduate 400-level course.

Description: This course covers advanced topics in economic history with an emphasis on the application of economic theory to specific historical issues.

Component(s): Lecture

• This course is cross-listed with an undergraduate 400-level course.

Description: This course examines departures from the perfect competition paradigm to analyze economic behaviour in an industrial setting. An industry consists of a number of firms which interact strategically to maximize their profits. Topics addressed include measures of market structure, theories of oligopoly, effects of potential entry, product differentiation and advertising, technological change, vertical integration, and monopoly and merger issues.

Component(s): Lecture

• This course is cross-listed with an undergraduate 400-level course.

Description: This course investigates the nature and behaviour of the firm. Economic rationalizations are presented for organizing production within a firm. The economic effects of various organization structures are examined. Topics addressed include team production, contractual models of the firm, principal-agent theory, tournaments, and the relationship between managers, shareholders, and the outside market.

Component(s): Lecture

• This course is cross-listed with an undergraduate 400-level course.

Description: This course is devoted to an examination of the economic aspects of governmental regulations. Besides a critical review of the economic theories of regulation, the spectrum of the existing regulatory network, and empirical investigations aimed at discerning cost- benefits, the course focuses on the process of regulatory reforms in all aspects of the Canadian economy.

Component(s): Lecture

• This course is cross-listed with an undergraduate 400-level course.

Description: This introductory course on game theory is a collection of mathematical tools to model and analyze strategic interactions in a variety of settings, from economic and social situations to politics and international relations. The course focuses on both non-co-operative and co-operative game theoretic modelling, in particular, strategic and extensive form games, Bayesian games, and coalitional games. Students learn to solve games using the concepts of dominant strategies, Nash-equilibrium, subgame perfection, Bayesian equilibrium, and the core. Applications may include repeated games, auctions, bargaining, oligopoly games, entry deterrence, pricing strategies, and collusion.

Component(s): Lecture

• This course is cross-listed with an undergraduate 400-level course.

Description: This is a course in applied microeconomic theory. Various observations on the state of professional sports are explained using economic theory. Evidence of the statistical relevance of such explanations is also investigated. Issues addressed include the magnitude of the earnings of professional sports stars; the impact of free agency on competitive balance in sports leagues; the value of professional sports teams to cities, and whether such valuation justifies public subsidization of franchises or arenas.

Component(s): Lecture

• This course is cross-listed with an undergraduate 400-level course.

• Students who have received credit for this topic under an ECON 598 number may not take this course for credit.

Description: The course deals with topics in labour economics using microeconomic concepts such as inter-temporal decision-making, uncertainty, moral hazard, adverse selection and market signalling. The following topics are covered: labour supply and demand, wage differentials, human capital theory, efficiency wages and implicit contracts.

Component(s): Lecture

• This course is cross-listed with an undergraduate 400-level course.

Description: The main objective of this course is to describe how modern microeconomics and modern labour economics can be used to solve practical human resource and personnel issues. These include hiring and firing practices, optimal payment and compensation structure, unions and strike behaviour.

Component(s): Lecture

• This course is cross-listed with an undergraduate 400-level course.

Description: This course covers topics in labour economics from the macroeconomic perspective. The key topics include equilibrium unemployment, job search, wage determination mechanisms, labour income processes and labour mobility. The course also devotes a substantial amount of time to macroeconomic policy issues of the labour markets such as employment insurance, minimum wage and union.

Component(s): Lecture

• This course is cross-listed with an undergraduate 400-level course.

Description: This course introduces students to the role of economics in health, health care, and health policy. It surveys the major topics in health economics and forms an introduction to the ongoing debate over health care policy. Topics include the economic determinants of health, the market for medical care, the market for health insurance, the role of government in health care, and health care reform.

Component(s): Lecture

• This course is cross-listed with an undergraduate 400-level course.

Description: This course provides a survey, from the perspective of economics, of public issues regarding the use of environmental resources, ecosystems and the management of environmental quality. The course covers both conceptual and methodological topics with recent and current applications. It begins with an introduction to the theory and methods of environmental and natural resource economics and concepts of sustainable development. Then the emphasis is shifted to the optimal use of natural resources, both non-renewable resources (mineral and energy) and renewable resources, and the valuation of environmental resources. The last part of the course examines national and international environmental policy issues, including intergenerational equity and environmental ethics.

Component(s): Lecture

• This course is cross-listed with an undergraduate 400-level course.

Description: This course introduces the student to the methods and techniques of regional economic analysis, and their application to the problems of regional economies within Canada. Among the micro-economic topics covered are the location behaviour of firms and households, and the factors determining the allocation of land among alternative competing uses. Macroeconomic topics include the measurement and analysis of regional income and growth levels, cyclical changes in those levels, and interregional differences in growth rates. Policy problems pertinent to Canadian regions are stressed throughout the course.

Component(s): Lecture

• This course is cross-listed with an undergraduate 400-level course.

Description: This course focuses on the problems of the finiteness of the natural resources base in Canada and in the world, and on an analysis of the demand for and supply of natural resources and energy. The course also discusses the economic aspects of a selected group of conservation measures (financial incentives, reallocation of property rights, regulation).

Component(s): Lecture

• This course is cross-listed with an undergraduate 400-level course.

• Students who have received credit for this topic under an ECON 598 number may not take this course for credit.

Description: This course examines the extent and dimensions of economic inequality among households both domestically and internationally. Topics covered include theories of income inequality, wealth inequality, recent trends in polarization, poverty, intergenerational bequests, the welfare state, and the role of government economic policy.

Component(s): Lecture

Description: Specific topics and relevant prerequisites for this course are stated in the Graduate Class Schedule.

• This course is cross-listed with an undergraduate 400-level course.

Prerequisite/Corequisite:

The following courses must be completed previously: ECON 501 and ECON 525; or equivalent.

Description: This course is devoted to modern consumer and producer theories. Consumer theory is presented first, and at some length, due to its inherent importance, as well as the overlap between the methods and results in this area and in producer theory. Producer theory is dealt with next. In this section of the course, the similarities and differences between these two important building blocks of modern microeconomics are emphasized.

Component(s): Lecture; Laboratory

Prerequisite/Corequisite:

The following courses must be completed previously: ECON 612.

Description: This course covers a number of topics in microeconomic theory. Main topics include general equilibrium theory and welfare economics, topics in the theory of information, contracts and principal-agent problems, and selected topics in game theory.

Component(s): Lecture; Laboratory

Prerequisite/Corequisite:

The following course must be completed previously: ECON 612.

Description: This course offers an in-depth coverage of some important topics in mostly non-cooperative but also cooperative game theory. Although formal reasoning, precise definitions and proofs are part of the course, emphasis is placed on the importance and use of the various concepts in economics. Main topics include Nash equilibrium and subgame perfection, correlated equilibria, rationalizability, zero sum games, repeated games, (perfect) Bayesian Nash equilibrium, core Shapley value, bargaining problems, and stable sets.

Component(s): Lecture; Laboratory

Prerequisite/Corequisite: The following courses must be completed previously: ECON 503 and ECON 525; or equivalent.

Description: The objective of this course is to introduce students to advanced theories and mathematical tools for rigorous analysis of various macroeconomic issues. Topics covered include consumption, investment, inflation and economic growth theories including Solow, Ramsey-Cass-Koopmans, and endogenous growth models.

Component(s): Lecture; Laboratory

Prerequisite/Corequisite:

The following course must be completed previously: ECON 615.

Description: This course studies various issues in macroeconomic theory within a dynamic general equilibrium framework. Topics covered vary from year to year. However, the first part of the course is usually an initiation into useful techniques such as dynamic programming and the numerical methods.

Component(s): Laboratory

Prerequisite/Corequisite:  The following course must be completed previously: ECON 615.

Description: This course includes the theory of money, monetary policy, payment systems, and banking. Among the available models, there will be a particular focus on the New Keynesian model as a framework to analyze monetary policy. Alternative models of money, such as search-theoretic models, are also studied.

Component(s): Lecture

Prerequisite/Corequisite: The following courses must be completed previously: ECON 614 and ECON 615.

Description: This course studies how conflicts of interest are resolved through political institutions in democratic countries. In the first half of the course, tools and models that are useful in the analysis of voting and elections, bargaining in legislatures, and special interest politics are studied. In the second half, these tools are applied to examine: (1) how macroeconomic polices are made through the political process; (2) why inefficient policies may be chosen in the end; and (3) how constitutions (indirectly) shape public policy and consequently the economic outcomes of nations.

Component(s): Lecture

Prerequisite/Corequisite: The following courses must be completed previously: ECON 501; ECON 503; and ECON 525; or equivalent.

Description: Modern theories of economic development are presented. Topics include microeconomic reform and transition in developing economies, income inequality and enterprise and, foreign investment and technology flows as a means to development. In addition, analytical techniques used in the study of structure and functioning of developing economies are presented.

Component(s): Lecture

Prerequisite/Corequisite:

The following courses must be completed previously: ECON 501; ECON 503 and ECON 525; or equivalent.

Description: This course examines a series of models that are relevant to the study of economic growth and development. These two issues are studied from a macroeconomic perspective; that is, emphasis is placed on highly stylized models characterized by rational decision making within a dynamic environment.

Component(s): Lecture

Prerequisite/Corequisite:

The following courses must be completed previously: ECON 501; ECON 503 and ECON 525; or equivalent.

Description: Why are some countries poor and others rich? What can account for cross-country differences in fertility and mortality rates? In gender gaps, civil war, and school attainment? Why did the industrial revolution start in Europe? Why did Europe colonize the rest of the world, rather than the other way around? Why are some former colonies (e.g., U.S., Canada) so much richer than others (e.g., India and Zimbabwe)? This course presents research which addresses these issues. While emphasis in on theoretical research where overlapping-generations models are used to generate multiple steady-state equilibria, empirical work is also examined.

Component(s): Lecture

Prerequisite/Corequisite:

The following courses must be completed previously: ECON 501; ECON 503; and ECON 525; or equivalent.

Description: This course is the first of a two course sequence in financial economics, and is intended to provide an introduction to contemporary theoretical and empirical modeling in financial markets. The course provides a foundation for more advanced work in financial economics while allowing students without an exceptionally strong mathematical background to become familiar with the discipline. Theoretical topics include measures of risk aversion, stochastic dominance, individual portfolio choice under uncertainty, the capital asset pricing model (CAPM), and the arbitrage pricing theory (APT). Empirical topics include tests of CAPM and the APT, the efficient markets hypothesis, performance evaluation, and event test methodology.

Component(s): Lecture

Prerequisite/Corequisite:

The following courses must be completed previously: ECON 642 and ECON 680.

Description: This course is the second of a two course sequence in financial economics, and is intended to provide an introduction to several advanced topics in theoretical and empirical financial economics. Theoretical topics include the valuation of state contingent securities, dynamic asset pricing, and continuous time methods. Empirical topics include the time-series properties of returns, traditional structural estimation of asset pricing models of maximum-likelihood (ML) and the generalized method-of-moments (GMM), calibration and simulation, variance bounds tests, and an introduction to empirical methods for continuous time models.

Component(s): Lecture

Prerequisite/Corequisite:

The following courses must be completed previously: ECON 501 and ECON 525; or equivalent.

Description: This course deals with welfare economics and the role of the government in supplying goods. The principal topics are the optimal supply of public goods, voting mechanisms and models of preference revelation, consumer’s surplus, externalities in production and consumption, optimal pricing models, the theory of clubs, inequality, cost-benefit analysis, federalism and federal-provincial relations in Canada.

Component(s): Lecture

Prerequisite/Corequisite: The following courses must be completed previously: ECON 501; ECON 525; or equivalent.

Description: This course analyzes both the descriptive and normative effects of alternative taxation policies on economic behaviour. In the descriptive part it deals with work-leisure choice, saving decisions and the incidence of the corporation income tax. The normative part deals with the optimality issues of income and commodity taxation. Emphasis is given to both analytical and policy considerations.

Component(s): Lecture

Prerequisite/Corequisite: The following courses must be completed previously: ECON 501; ECON 525; or equivalent.

Description: This course deals with the inter-relationship between economics and the physical environment. The objective is to depict the problem of environmental quality as an economic problem. The course focuses on the use of concepts and instruments derived from public finance for the resolution of environmental issues. Numerous case studies are discussed.

Component(s): Lecture

Prerequisite/Corequisite:

The following courses must be completed previously: ECON 501; ECON 525; or equivalent.

Description: This course provides a systematic treatment of neo-classical international trade theory, including the theory of comparative advantage, the theory and practice of commercial policy, trade and welfare, and customs union theory. The course emphasizes the interaction of trade theory with policy questions.

Component(s): Lecture

Prerequisite/Corequisite:

The following courses must be completed previously: ECON 501; ECON 503 and ECON 525; or equivalent.

Description: Selected topics in international finance or open economy macroeconomics are analyzed within modern dynamic general equilibrium models. These include deviations from the law of one price and from purchasing power parity, pricing to market, exchange rate determination, the international transmission of business cycles, the international financial system and crises, sovereign debt and default, global trade imbalances, currency unions (like the European Monetary Union), customs unions (like the European Union), and optimal monetary and fiscal policy in an open economy setting.

Component(s): Lecture

Prerequisite/Corequisite:

The following courses must be completed previously: ECON 501; ECON 525; or equivalent.

Description: This course surveys economic models of industrial behaviour. Topics covered include theories of oligopoly, effects of potential entry, product differentiation, advertising, technological change, vertical integration, monopoly and merger issues.

Component(s): Lecture

Prerequisite/Corequisite:

The following courses must be completed previously: ECON 501; ECON 525; or equivalent.

Description: This course examines economic theories of regulation as applied to monopolized and competitive industries, together with their policy implications. Topics covered include natural monopoly, contestable markets, effects of “traditional” regulation (such as rate of return and Ramsey pricing), together with an examination of recent theories of optimal regulation under asymmetric information. Topics in the regulation of industries include minimum quality standards, licensing, and predatory business practices.

Component(s): Lecture

Prerequisite/Corequisite:

The following courses must be completed previously: ECON 501; ECON 525; or equivalent.

Description: This course covers selected topics in the field of labour economics. The focus of the course is on microeconomic analyses and issues. The emphasis is on the application of some of the ideas from the theories of information, uncertainty, and incentives to the understanding of labour markets and institutions. Topics covered include wage and wage differentials, discrimination, human capital, life-cycle models of labour markets, effects of asymmetric information, self-enforcing implicit contracts, efficiency wage models, principal-agent problems, team production and tournaments.

Component(s): Lecture

Prerequisite/Corequisite:

The following courses must be completed previously: ECON 612 and ECON 680.

Description: The main objective of this course is to examine a relatively small number of topics in modern labour economics and, ultimately, their empirical and econometric application. The topics covered include static and dynamic models of labour supply, dynamic models of job search and job matching, econometric analysis of labour market transition data, unemployment insurance, and unemployment theories.

Component(s): Lecture

Prerequisite/Corequisite:

The following courses must be completed previously: ECON 521 and ECON 525; or equivalent.

Description: The general aim of this course is to discuss some of the fundamental methods of econometrics and their theoretical justification. The course begins with a mathematical and statistical review and moves on to a thorough discussion of the general theory of least squares (including instrumental variables) and maximum-likelihood, their justification and associated tests of significance. Applications include linear, single-equation and simultaneous equations models, some non-linear models, and specification analysis. Students are expected to undertake various exercises, including computer-based applications.

Component(s): Lecture

Prerequisite/Corequisite:

The following course must be completed previously: ECON 680.

Description: This course covers advanced topics in estimation and inference in non-linear econometric models including asymptotic theory, generalized method of moments, quasi-maximum likelihood, simulation based methods, non-parametric and semiparametric estimation, bootstrap methods and robust estimators.

Component(s): Lecture; Laboratory

Prerequisite/Corequisite:

The following course must be completed previously: ECON 680.

Description: This course provides an introduction to statistical techniques for analyzing time-series data. Topics include Box-Jenkins methodology, spectral analysis, forecasting, tests for unit roots, multivariate time-series analysis: vector autoregressions, causality, cointegration, and nonlinear time-series models such as ARCH models.

Component(s): Lecture

Prerequisite/Corequisite:

The following course must be completed previously: ECON 680 or equivalent, and one successfully completed graduate level course in econometrics. If prerequisites are not satisfied, permission of the instructor is required.

Description: This course provides an introduction to statistical techniques and practical aspects of microeconometric analysis. Topics include binary response models, censored and truncated regression models, analysis of categorical survey data, instrumental variables, treatment effects, panel data models with fixed and random effects, analysis of transition data, estimation by simulation, and estimation of dynamic programming models.

Component(s): Lecture

Prerequisite/Corequisite:

Permission of the Graduate Studies Committee is required.

Description: A supervised reading course in a specialized area in which no course is offered by the Department.

Component(s): Reading

Description: Recent Special Topics have included: Monetary Economics; Game Theory; Workshop in Advanced Economic Theory; Applied Industrial Organization; Empirical Trade; Political Economics; Natural Resources and Environmental Economics Workshop.

Component(s): Lecture

• This course may be taken more than one time for credit, provided the subject matter is different each time.

Description: This course introduces students to the approach followed by economists to conduct scientific research and produce knowledge. Students learn how to formulate a pertinent research question, how to perform a critical evaluation of the relevant literature, how to determine the appropriate methodology to answer this question, and how to communicate findings effectively. The course also examines common pitfalls in data gathering and data analysis.

Component(s): Lecture

Description: A thesis demonstrates a student’s ability to carry out original independent research in Economics. The topic of the thesis must be approved by the Graduate Program Director and a full-time member of the Department who is prepared to act as a supervisor. The thesis is examined in accordance with the guidelines outlined in the Thesis Regulations section of this calendar.

Component(s): Thesis Research

Prerequisite/Corequisite:

The following courses must be completed previously: ECON 613 and ECON 616.

Description: All students must pass one examination in Microeconomic Theory and one examination in Macroeconomic Theory.

Component(s): Thesis Research

Prerequisite/Corequisite: The following course must be completed previously: ECON 802.

Description: Students are required to defend their thesis proposal before a supervisory committee in a meeting chaired by the Graduate Program Director. The supervisory committee consists of the principal supervisor(s) and at least two other members of the Department. The thesis proposal must include a sound rationale for the proposed research, situate this research within the relevant literature, describe the intended research methods, and discuss the overall research agenda towards the completion of a Thesis.

Component(s): Thesis Research

Prerequisite/Corequisite:

The following course must be completed previously: ECON 804.

Description: This seminar requires the writing and oral presentation of a completed research paper, which normally constitutes the first chapter of the Thesis.

Component(s): Seminar; Thesis Research

Prerequisite/Corequisite:

The following course must be completed previously: ECON 806.

Description: Doctoral students must submit a thesis, based on their own extensive research, which makes an original contribution to knowledge and defend it in an oral examination in accordance with the thesis regulations specified in the relevant section of this calendar.

Component(s): Thesis Research