Economics Courses

Description: This course is intended to introduce students to economics. This course demonstrates how economics can be used to examine various social issues such as immigration, crime, addiction and pollution. The course also examines the data and policies associated with each issue as well as the insights and empirical findings offered by economics. Students are introduced to the economic way of thinking when examining each issue. No previous knowledge of economic concepts, graphs or mathematics is required.

Component(s): Lecture

• Students who have received credit for ECON 302 or ECON 304, or for this topic under an ECON 298 number, may not take this course for credit.

Description: Introduction to the functioning of the market system; concepts of supply and demand, the role of prices in resource allocation; production decisions by firms. Analysis of differences between competition and monopoly, and the implications for economic efficiency; theories of labour markets and wage determination.

Component(s): Lecture

Description: An introductory analysis of aggregate economic activity. The focus is on the principles of determination of the level of employment, national income, real output, inflation, and international balance of payments. The course also analyzes the principles which govern trade relations among countries. These topics are integrated by a discussion of government monetary and fiscal policies to stabilize economic activity.

Component(s): Lecture

Prerequisite/Corequisite:

The following course must be completed previously: Cegep Mathematics 311 or MATH 201 or MATH 206.

Description: This course is an introduction to the statistical procedures commonly employed by economists. Topics may include probability and probability distributions, discrete and continuous random variables, descriptive statistics, sampling distributions, statistical estimation, confidence intervals and hypothesis testing.

Component(s): Lecture

• Students in the Major in Economics are required to take ECON 221. Credits earned from SOCI 212 or INTE 296 will not be counted towards the degree.

• Students who have received credit for BIOL 322, COMM 215, DESC 244, ENGR 371, GEOG 362, MAST 221 or MAST 333, PSYC 315 or PSYC 316, SOCI 212 and SOCI 213, or STAT 249 or STAT 250 may not take this course for credit.

Prerequisite/Corequisite:

The following courses must be completed previously: ECON 221; MATH 203 or MATH 209; or equivalent.

Description: This course is a continuation of ECON 221 and is an introduction to the classical linear regression model, with an emphasis on the model’s assumptions and the properties and interpretation of the estimates derived from it. Consideration is also given to violations of the model’s assumptions, the effects on the estimates and steps to remedy these violations. Topics may include model specification, heteroscedasticity, multicollinearity and indicator variables. Students are also introduced to the acquisition and preparation of appropriate datasets.

Component(s): Lecture

• Students who have received credit for MAST 333, PSYC 316 or STAT 250, or for any combination of MAST 221 and MAST 333, PSYC 315 and PSYC 316, or STAT 249 and STAT 250, may not take this course for credit.

Description: This course is an introduction to the economic development of the Western world prior to the Industrial Revolution. The emphasis is on economic factors in history: evolution of economic systems, economic growth, development and regression within the context of changing institutional constraints. Interconnections among economic, social, and intellectual change are highlighted.

Component(s): Lecture

• Students who have received credit for ECON 250 may not take this course for credit.

Description: This course is an introduction to the main economic trends in the era of sustained growth and development which accelerated with the Industrial Revolution and continues to the present. The emphasis is on Europe with some coverage of North America and the colonial/ developing world.

Component(s): Lecture

• Students who have received credit for ECON 250 may not take this course for credit.

Description:

Specific topics for this course, and relevant prerequisites, are stated in the Undergraduate Class Schedule.

Description: Specific topics for these courses, and prerequisites relevant in each case, are stated in the Undergraduate Class Schedule.

Prerequisite/Corequisite:

The following courses must be completed previously: ECON 201, ECON 203; MATH 203 or MATH 209 or equivalent.

Description:

Theory and measurement of demand, theory of consumer behaviour, production, theory of the firm, and cost and revenue analysis.

Component(s): Lecture; Tutorial

Prerequisite/Corequisite:

The following course must be completed previously: ECON 301.

Description:

Market structures (perfect competition, monopoly, oligopoly), industrial concentration, factor markets, income distribution, economic efficiency, general equilibrium, welfare economics.

Component(s): Lecture; Tutorial

Prerequisite/Corequisite:

The following courses must be completed previously: ECON 201, ECON 203; MATH 203 or MATH 209 or equivalent.

Description: The course introduces basic aggregative models to explore different theories on the determination of national income, interest rates and exchange rates. Topics covered include the definitions and measurements of indicators of economic activity; the components of aggregate supply and aggregate demand; the supply and demand for money; and the dynamics of national debt and deficit. The role of macroeconomic policy, such as fiscal and monetary policy, is also examined.

Component(s): Lecture; Tutorial

Prerequisite/Corequisite:

The following course must be completed previously: ECON 303.

Description: This course builds on the concepts developed in ECON 303 by introducing additional features to the basic models, such as the formation of expectations and attributes of the labour market, and then using these models to explore different theories concerning the determination and the evolution of major aggregate variables, economic growth and business cycles. The role of macroeconomic policy, with an emphasis on Canada, is also examined.

Component(s): Lecture; Tutorial

Prerequisite/Corequisite:

The following courses must be completed previously: ECON 201, ECON 203.

Description: The course investigates comparative economic development, with special attention to problems of capital formation, population growth, quality of labour force, and social and cultural attitudes towards economic modernization. Theories of economic development are evaluated in the context of the realities of historical patterns and the varying degrees of ability to achieve modernization.

Component(s): Lecture

Prerequisite/Corequisite:

The following courses must be completed previously: ECON 201, ECON 203.

Description: This course focuses on economic policies and institutions related to contemporary issues in the domestic economy. It is guided by the application of economic principles to such issues as regional disparities, income distribution and inequality, intra‑provincial trade, social security policies, welfare programs, foreign ownership and control, competition policy, government regulation of business, unemployment, inflation, and environmental policy.

Component(s): Lecture

• Students who have received credit for ECON 316 may not take this course for credit.

Prerequisite/Corequisite:

The following courses must be completed previously: ECON 201, ECON 203.

Description:

This course focuses on economic policies and institutions related to issues such as protectionism, regionalism, and globalization. Selected topics in exchange rate and currency convertibility, liberalization of economic systems, and international economic development are also covered.

Component(s): Lecture

• Students who have received credit for ECON 317 may not take this course for credit.

Prerequisite/Corequisite:

The following courses must be completed previously: ECON 201, ECON 203, ECON 222 or equivalent.

Description:

This course introduces students to the techniques of data retrieval, manipulation and analysis with particular emphasis placed on using a variety of national and international databases, database management, and spreadsheet and statistical software packages.

Component(s): Lecture

• Students who have received credit for ECON 323 may not take this course for credit.

Prerequisite/Corequisite:

The following courses must be completed previously: ECON 201, ECON 203; MATH 203 or MATH 209 or equivalent.

Description: This course provides students with the fundamental mathematical tools necessary for economic studies and helps them develop a set of problem‑solving and analytical skills. Topics may include linear models and basic matrix algebra, univariate calculus, exponential and logarithmic functions, comparative static analysis, and constrained and unconstrained optimization problems.

Component(s): Lecture; Tutorial

• Students who have received credit for MAST 234 or MATH 251 may not take this course for credit.

Prerequisite/Corequisite:

The following course must be completed previously: ECON 325.

Description: This course covers mathematical tools necessary for advanced economic studies and provides students with a set of problem‑solving and analytical skills. Topics may include implicit function theorem, multivariate calculus, constrained optimization with inequality constraints, envelope theorem and dynamic analysis.

Component(s): Lecture; Tutorial

• Students who have received credit for MAST 235, MATH 252 or MAST 283 may not take this course for credit.

Prerequisite/Corequisite:

The following courses must be completed previously: ECON 201, ECON 203.

Description: This course relies on concepts used in managerial economics, applied microeconomics, public economics, applied statistics, and industrial organization to examine how economists approach and think about real‑world problems. The course is organized around the setting that students are employees of a consulting firm hired to provide timely advice on pressing issues.

Component(s): Lecture

• Students who have received credit for this topic under an ECON 398 number may not take this course for credit.

Prerequisite/Corequisite:

The following courses must be completed previously: ECON 201, ECON 203.

Description: Overview of a monetary economy: nature, forms, and the economic role of money. Monetary standards: markets, prices, and the value of money; the payments system; financial markets. Determinants of size and distribution of wealth portfolios. Supply of money: measure, composition, and size determination. The economic role of commercial banks and non‑bank financial intermediaries. Central banking and monetary policy. The international monetary system. (Topics covered within the Canadian banking institutional framework.)

Component(s): Lecture

Prerequisite/Corequisite:

The following courses must be completed previously: ECON 201, ECON 203; MATH 203 or MATH 209 or equivalent.

Description: This course is an introduction to investment issues. Topics may include consumption‑savings decision under uncertainty, the allocation of savings from a portfolio perspective, securities markets, the historical record on risk and return, asset‑pricing models, fixed income securities and behavioural finance.

Component(s): Lecture

• Students who have received credit for COMM 308 or for this topic under an ECON 398 number may not take this course for credit.

Prerequisite/Corequisite:

The following course must be completed previously: ECON 332.

Description: This course is the continuation of ECON 332 with an emphasis on derivative products and risk management. Topics may include the role of derivatives in financial markets, binomial model of stock prices, Black‑Scholes pricing model, risk‑neutral pricing, exotic derivatives, regulatory environment for financial markets, Basel Accords, models of risk and recent financial crisis.

Component(s): Lecture

• Students who have received credit for this topic under an ECON 398 number may not take this course for credit.

Prerequisite/Corequisite:

The following courses must be completed previously: ECON 201, ECON 203.

Description: This course examines government fiscal activity within the context of a market economy. Rationale for public intervention is reviewed in terms of market failure and the consequent inefficiency in resource allocation. An overview of the spending and taxation policies in the Quebec‑Canada context is presented. This is followed by an examination of topics such as public‑spending growth, public goods, externalities and collective decision making.

Component(s): Lecture

• Students who have received credit for ECON 335 or ECON 336 may not take this course for credit.

Prerequisite/Corequisite:

The following courses must be completed previously: ECON 201, ECON 203.

Description: This is a course in the field of applied economics, with a focus on population economics. Topics may include the demographic transition, economic growth, population aging (and its impact on financial markets), health care and pension financing, labour migration, microfinance, environmental consequences, and optimal policy approaches.

Component(s): Lecture

• Students who have received credit for this topic under an ECON 398 number may not take this course for credit.

Prerequisite/Corequisite:

The following courses must be completed previously: ECON 201, ECON 203.

Description: This course introduces the student to Canadian economic development focusing on the period after Confederation. The course treats the subject in a thematic, rather than a chronological, fashion and places emphasis on conflicting schools of thought and their reflection in government policies.

Component(s): Lecture

• Students who have received credit for ECON 351 may not take this course for credit.

Prerequisite/Corequisite:

The following courses must be completed previously: ECON 201, ECON 203.

Description: This course develops the relationship of the firm to various forms of market structure. The course focuses on the objectives of the corporation, corporate interdependence, and the government control of industry. A study of policy matters centres on anti‑trust and corporate regulation, with respect to both the legislative and economic aspects.

Component(s): Lecture

Prerequisite/Corequisite:

The following courses must be completed previously: ECON 201, ECON 222.

Description: This course stresses the application of economic principles and methodologies to the decision‑making process of the firm, with an emphasis on the role of risk and uncertainty. Topics include decision‑making criteria, demand analysis and estimation, cost analysis and estimation, pricing theory under various market structures, applied topics in pricing, and the impact of government on the firm. This course is primarily of interest to Commerce students, but is open to others as well.

Component(s): Lecture

Prerequisite/Corequisite:

The following courses must be completed previously: ECON 201, ECON 203.

Description: This course analyzes the economic growth, industrial policies and crisis experiences of selected Asian economies. It provides an analysis of the policies and factors that have contributed to the economic transformation of these economies since World War II. It examines how these economies were affected by the Asian financial crisis in 1997 and their economic performance since then. The economic challenges that these economies are likely to face in the future may also be explored.

Component(s): Lecture

Prerequisite/Corequisite:

The following courses must be completed previously: ECON 201, ECON 203.

Description: This course has a dual objective: to examine economic developments and recent growth in the Irish economy, and to examine the structure and importance of Ireland’s participation in the European Union in a global and European context. Particular issues addressed are: high growth in developed economies, migration, taxation policy, integration and trade, currency areas and capital mobility.

Component(s): Lecture

• Students who have received credit for this topic under an ECON 398 number may not take this course for credit.

Prerequisite/Corequisite:

The following courses must be completed previously: ECON 201, ECON 203.

Description: The general objective of this course is to acquaint the student with various theoretical and empirical issues in the area of labour economics. Particular emphasis is placed upon the relation between theoretical frameworks and their empirical counterparts in Canada. Topics include the theory of wage determination, the effects of minimum wages, human capital theory, the economics of discrimination, and the economics of the household.

Component(s): Lecture

Prerequisite/Corequisite:

The following courses must be completed previously: ECON 201, ECON 203.

Description: A study of the general and practical problems that arise in the labour field, such as collective bargaining, the legal framework for the settlement of industrial disputes, the weapons of industrial conflict; the labour movement; contemporary labour issues, such as automation, cost‑push inflation, and structural employment.

Component(s): Lecture

Prerequisite/Corequisite:

The following courses must be completed previously: ECON 201, ECON 203.

Description: A study of recent contributions by economists to the understanding of and solution to social problems which society currently faces in the areas of crime, health, education, and welfare. In addition, specific federal and provincial governmental policies in these areas are analyzed with the standard tools of economics.

Component(s): Lecture

Prerequisite/Corequisite:

The following courses must be completed previously: ECON 201, ECON 203.

Description: The subject of this course is environmental quality. It proceeds through an analysis of the relationships among the natural environment, economics, and institutions. The objective is to depict the problem of environmental quality as an economic problem whose solution demands major changes in economic, political, and legal institutions. Attention is also given to policies of collective environmental actions in which the effective management of common property resources is discussed. The course concludes with a discussion of some broader issues, such as the consistency of improved environmental quality with continued economic and population growth.

Component(s): Lecture

Prerequisite/Corequisite:

The following courses must be completed previously: ECON 201, ECON 203.

Description: This course focuses on the basic issues of economic growth and stagnation, urban land use, the problems of the urban public economy, and special urban problems, such as transportation, congestion, poverty, housing, urban renewal, and zoning.

Component(s): Lecture

Prerequisite/Corequisite:

The following courses must be completed previously: ECON 201, ECON 203, ECON 222.

Description: This course focuses on the basic rules governing the application of statistical concepts such as means, variances, covariances, to the economic aspects of the problem of uncertainty. Applications in micro‑economic analysis include economic aspects of insurance as well as issues in finance such as portfolio selection, efficient markets, and the capital‑ asset pricing models. Applications in macroeconomics include the analysis of business cycles and problems associated with the characterization of expectations as in models of inflation.

Component(s): Lecture

• Students who have received credit for this topic under an ECON 398 number may not take this course for credit.

Description:

Specific topics for this course, and relevant prerequisites, are stated in the Undergraduate Class Schedule.

Description:

Specific topics for this course, and relevant prerequisites, are stated in the Undergraduate Class Schedule.

Prerequisite/Corequisite:

The following courses must be completed previously: ECON 222, ECON 302, ECON 326. If prerequisites are not satisfied, permission of the Department is required.

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

Prerequisite/Corequisite:

The following courses must be completed previously: ECON 222, ECON 304, ECON 326. If prerequisites are not satisfied, permission of the Department is required.

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

Prerequisite/Corequisite:

The following courses must be completed previously: ECON 222, ECON 302, ECON 304.

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

• Students who have received credit for ECON 408 may not take this course for credit.

Prerequisite/Corequisite:

The following courses must be completed previously: ECON 222, ECON 302, ECON 304.

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

• Students who have received credit for ECON 408 may not take this course for credit.

Prerequisite/Corequisite:

The following courses must be completed previously: ECON 222, ECON 302, ECON 304.

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

Prerequisite/Corequisite:

The following courses must be completed previously: ECON 222, ECON 302, ECON 304.

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

• Students who have received credit for ECON 312 or 411 may not take this course for credit.

Prerequisite/Corequisite:

The following courses must be completed previously: ECON 324, ECON 325 or equivalent.

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

Prerequisite/Corequisite:

The following course must be completed previously: ECON 421.

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

Prerequisite/Corequisite:

The following courses must be completed previously: ECON 324, ECON 325 or equivalent.

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

Prerequisite/Corequisite:

The following courses must be completed previously: ECON 222, ECON 302, ECON 304, ECON 326.

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

Prerequisite/Corequisite:

The following courses must be completed previously: ECON 222, ECON 302, ECON 304.

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 498 number may not take this course for credit.

Prerequisite/Corequisite:

The following courses must be completed previously: ECON 222, ECON 302, ECON 304.

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

Prerequisite/Corequisite:

The following courses must be completed previously: ECON 222, ECON 302, ECON 304, ECON 325 or equivalent.

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 Capital Asset Pricing Model (CAPM) and the Arbitrage Pricing Theory (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

• Students who have received credit for this topic under an ECON 498 number may not take this course for credit.

Prerequisite/Corequisite:

The following courses must be completed previously: ECON 222, ECON 302, ECON 304.

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

• Students who have received credit for ECON 435 may not take this course for credit.

Prerequisite/Corequisite:

The following courses must be completed previously: ECON 222, ECON 302, ECON 304.

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

• Students who have received credit for ECON 435 may not take this course for credit.

Prerequisite/Corequisite:

The following courses must be completed previously: ECON 222, ECON 302, ECON 304.

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 498 number may not take this course for credit.

Prerequisite/Corequisite:

The following courses must be completed previously: ECON 222, ECON 302, ECON 304.

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

Prerequisite/Corequisite:

The following courses must be completed previously: ECON 222, ECON 302, ECON 304.

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

Prerequisite/Corequisite:

The following courses must be completed previously: ECON 222, ECON 302, ECON 304.

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

Prerequisite/Corequisite:

The following courses must be completed previously: ECON 222, ECON 302.

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

Prerequisite/Corequisite:

The following courses must be completed previously: ECON 222, ECON 302.

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

Prerequisite/Corequisite:

The following courses must be completed previously: ECON 222, ECON 302.

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

Prerequisite/Corequisite:

The following courses must be completed previously: ECON 222, ECON 302, ECON 304.

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, Nashequilibrium, 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

Prerequisite/Corequisite:

The following courses must be completed previously: ECON 222, ECON 302, ECON 304.

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

• Students who have received credit for this topic under an ECON 498 number may not take this course for credit.

Prerequisite/Corequisite:

The following courses must be completed previously: ECON 222, ECON 302, ECON 304.

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

Prerequisite/Corequisite:

The following courses must be completed previously: ECON 222, ECON 302, ECON 304.

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

Prerequisite/Corequisite:

The following courses must be completed previously: ECON 222, ECON 302, ECON 304.

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

Prerequisite/Corequisite:

The following courses must be completed previously: ECON 222, ECON 302, ECON 304.

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

Prerequisite/Corequisite:

The following courses must be completed previously: ECON 222, ECON 302.

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

Prerequisite/Corequisite: The following courses must be completed previously: ECON 222, ECON 302, ECON 304.

Description: This course examines geographic aspects of economies through the application of microeconomic theories. The objective of the course is to understand why, how and where cities are created and organized (or disorganized), and what types of remedies urban economics has to offer when market failure is present at a city level. Topics may include location choice, suburbanization, New Economic Geography, city-size distribution, geographic mobility, spatial sorting, and quality-of-life index.

Component(s): Lecture

Prerequisite/Corequisite:

The following courses must be completed previously: ECON 222, ECON 302, ECON 304.

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

Prerequisite/Corequisite:

The following courses must be completed previously: ECON 222, ECON 302.

Description: Congestion problems and solutions, pricing, costs, demand, and regulation in transportation. Some applications to communications.

Component(s): Lecture

Prerequisite/Corequisite:

The following courses must be completed previously: ECON 222, ECON 302, ECON 304.

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

• Students who have received credit for ECON 396 or for this topic under an ECON 498 number may not take this course for credit.

Prerequisite/Corequisite:

The following courses must be completed previously: ECON 222, ECON 302, ECON 304.

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 for this course, and relevant prerequisites, are stated in the Undergraduate Class Schedule.

Description: Specific topics for these courses, and prerequisites relevant in each case, are stated in the Undergraduate Class Schedule.