Research Essay
Reading and research under the joint supervision of the Graduate Officer of the Department of Economics and of a second faculty member (from Economics or Business), and presentation of the research in progress in a research seminar conducted by the Graduate Officer.
Internship Placement I
Internship work placement (4 months) with an approved employer.
Internship Placement II
Internship work placement (4 months) with an approved employer.
Internship Training and Development
Framework for the development of learning objectives by students for individual work terms. Includes orientation to the internship experience, goal setting, résumé preparation, interview skills preparation.
Microeconomic Theory
The economic theory of individual and business decision making with emphasis on market structure and business strategy. Topics include consumer theory, the theory of the firm, imperfect competition, game theory, as well as the economics of information and uncertainty.
Macroeconomic Theory
Modern macroeconomic analysis is used to study the determination of the level of economic activity and the factors contributing to long-term growth. Important social issues such as unemployment and inflation are examined in order to identify their causes, consequences, and possible cures. The instruments of government policy, fiscal and monetary, are analyzed in the same context.
Econometrics
Econometric theory and methods covering the basic linear and nonlinear regression models, dynamic models, hypothesis testing, confidence intervals with extensions to the case of instrumental variables, the generalized method of moments and the method of maximum likelihood. Cross-section and time-series examples.
Topics in Applied Economics
An examination of economic theories and empirical techniques to investigate applied problems relevant to the area of business economics. Topics include time-series and cross-section econometrics, with application to forecasting, financial, and marketing problems.
Cost-Benefit Analysis, Project Appraisal, and Decision Analysis
A theoretical and empirical treatment of rational decision making, including cost-benefit and cost-effectiveness analysis, and their application to project evaluation.
Labour Economics
The economics of the labour market. The components of the demand and supply of labour are examined and combined to yield simple models of wage determination. These models are then extended to show the effects of compensating wage differentials, human capital accumulation and signalling, discrimination, incentive wages and labour unions. The causes of unemployment are examined, including search theory, implicit contracts and efficiency wages. Some public policy issues such as minimum wages, mandatory retirement, and immigration will be considered.
International Trade
International trade theory and the political economy of trade policies. Topics include endogenous growth and trade, tariff and non-tariff barriers to trade, international economic integration, and factor mobility.
International Payments
An advanced treatment of open-economy macroeconomic issues including international capital, goods, and services flows. Such flows complicate the conduct of national monetary and fiscal policies while, at the same time, providing opportunities for economic growth.
Industrial Organization
Strategic analysis of conflict and cooperation with applications to market structure and the behaviour of firms. Topics may include price discrimination, advertising, oligopoly, product differentiation, and antitrust issues.
Environmental and Natural Resource Economics
A rigorous coverage of the economic analysis of natural resources such as oil, fisheries, forests, and water and environmental impact upon an economy. Emphasis is placed on the development of theoretical models for the efficient and sustainable use of resources and on the design of appropriate government policies in the event of market failure. The analysis is complemented by an examination of specific real-world cases and government policies.