Note: The listing of a course in the Calendar is not a guarantee that the course is offered every year.

Note: Students must obtain a grade of at least C- in all courses used to fulfill prerequisite requirements. Otherwise, written permission of the appropriate Department Head or Program Co-ordinator must be obtained.

Note: The Department of Economics typically offers Econometrics (ECON4700) and Advanced Theory (ECON4801 and ECON4811) in alternating years.  For example, ECON4700 was offered in 2010-2011 and is scheduled to be offered in 2012-2013.  ECON4801 and ECON4811 were offered in 2009-2010 and are scheduled to be offered in 2011-2012.  Students planning to complete any degree in Economics that includes these core courses should plan their programs carefully to ensure that they have completed the prerequisite courses in time to register for these core courses.  Additional questions about program planning should be addressed to the Economics Department.

ECON 2001 (3CR)
INTERMEDIATE MICROECONOMICS I
Format: lecture 3 hours
Prereq: ECON 1001; or permission of the Department This course presents microeconomic theory and its applications relating to consumer decisions. Topics covered include: scope and method of microeconomics; demand and consumer behaviour; choices under uncertainty; intertemporal decisions making; asymmetric information; externalities and public goods; and exchange equilibrium and economic efficiency.

ECON 2011 (3CR)
INTERMEDIATE MICROECONOMICS II
Format: lecture 3 hours
Prereq: ECON 1001; or permission of the Department This course presents microeconomic theory and its applications relating to producer decisions. Topics include: the theory of production and cost; profit maximization and competitive supply; pricing with market power; monopoly and monopsony; monopolistic competition and oligopoly; game theory and strategic interactions; markets for inputs and income distribution; markets and asymmetric information; analysis of markets and effects of government policies; and the theory of the firm and team production.

ECON 2101 (3CR)
INTERMEDIATE MACROECONOMICS 1
Format: lecture 3 hours
Prereq: ECON 1011; or permission of the Department
Theories of national income, employment, inflation, balance of payments, and stabilization policy within the framework of macroeconomic models of a open economy. The focus of the course will be on short-run macroeconomic analysis and policy.

ECON 2111 (3CR)
INTERMEDIATE MACROECONOMICS II
Format: lecture 3 hours
Prereq: ECON 2101; or permission of the Department
A continuation of macroeconomic analysis in the context of the long-run. Topics include long-run consumption functions, investment and real business cycles, economic growth and productivity, and the monetary theories of the classical economists, Keynes, and Friedman.

ECON 2301 (3CR)
ISSUES IN CANADIAN PUBLIC POLICY
Format: lecture 3 hours
Prereq: Six credits from Social Sciences; or permission of the Department
This course is designed to introduce students to analytical methods used by social scientists examining Canadian social and economic policy. Students will be exposed to these analytical methods while studying issues which perennially arise in discussions of Canadian social and economic policy. Specific topics covered will vary from year to year and might include the following: unemployment and government policy; Canada and the global economy; social security reform; regionalism; education policy; health policy; and inflation and public policy.

ECON 2311 (3CR)
CURRENT DEBATES IN CANADIAN PUBLIC POLICY
Format: lecture 3 hours
Prereq: Six credits from Social Sciences; or permission of the Department
This course is a critical study of current debates on economic and social policy in Canada. Specific debates covered will vary from year to year, and will be chosen to ensure no overlap with Economics 2301.

ECON 2701 (3CR)
INTRODUCTION TO ECONOMETRICS
Format: lecture 3 hours
Prereq: ECON 1001 and 1011, MATH 2311; or permission of the Department
Exclusion: Any version of ECON 2701 previously offered with a different title.
This course introduces statistical tools for handling data generated in uncontrolled environments and the techniques involved in their use.
Topics include estimation and inference of single- and multi-variable regression models, large sample techniques, dummy variables, heteroskedasticity, and an introduction to times series.

ECON-2991-A (3CR)
SPECIAL TOPICS: THE EURO ZONE — COMMON CURRENCY AREAS AND GOVERNMENT DEBT (Offered: 2012-2013)
Format: lecture 3 hours
Prereq: 6CR of Social Science; or permission of the Department
This course examines economic aspects of the European Monetary Union and the effects of the associated monetary and fiscal policies in the member countries’ economies. Lectures involve a non-technical examination of the following topics:  free trade areas and customs, monetary and economic unions, the related historical experience of Europe (from a customs union towards a monetary union), and the restrictions imposed on monetary and fiscal policies. Emphasis is given to detecting the causes of the current government debt crisis experienced in many European countries and in assessing the implications of the proposed fiscal austerity pact.
Fall Term 2012, Tu/Th, 11:30—12:50; Instructor: Christos Ntantamis

ECON 3101 (3CR)
LAW AND ECONOMICS
Format: lecture 3 hours
Prereq: ECON 1001 and 1011; or permission of the Department
An introduction to the economic analysis of law, the role of economics in legal debates, and the role of law in economic exchange. The course examines economic aspects of social and legal issues and policies in regional, national and international contexts. Topics may include: property, contracts, torts, environmental law, and the economics of crime and punishment.

ECON 3111 (3CR)
HEALTH ECONOMICS
Format: lecture 3 hours
Prereq: ECON 1001 and 1011; or permission of the Department
An introduction to economic issues in the health care system. The course examines applications of economic principles and empirical analysis to the study of health and health policies in Canadian and International contexts. Topics may include: the demand for health care, the supply of health services through health practitioners and hospitals, the economic effects of health insurance, pharmaceutical markets, economic evaluation techniques for health, health technology assessment and public policy formulation.

ECON 3201 (3CR)
MONEY, BANKING, AND THE CANADIAN FINANCIAL SYSTEM: MICROECONOMIC PERSPECTIVES
Format: lecture 3 hours
Prereq: ECON 1001 and 1011; or permission of the Department
Note: Counts as a Commerce elective for students taking a Bachelor of Commerce or a Major or Minor in Commerce.
This course covers microeconomic aspects of the Canadian financial system. One main focus of the course is on financial instruments, the markets in which they are traded, and the economic role that these markets play. The other main focus is on Canadian financial institutions, the activities in which they engage, and the economic roles they play.

ECON 3211 (3CR)
MONEY, BANKING, AND THE CANADIAN FINANCIAL SYSTEM: MACROECONOMIC PERSPECTIVES
Format: lecture 3 hours
Prereq: ECON 1001 and 1011; or permission of the Department
Note: Counts as a Commerce elective for students taking a Bachelor of Commerce or a Major or Minor in Commerce.
This course covers macroeconomic aspects of the Canadian financial system. These include central banking, and the conduct and mechanics of monetary policy. The international financial system is also covered.

ECON/MATH 3301 (3CR)
INTRODUCTION TO GAME THEORY
Format: lecture 3 hours, laboratory 1 hour
Prereq: ECON 1001 and ECON 1011; or MATH 1111; or permission of the Department
Note: This course is cross-listed as MATH 3301 and therefore may count as 3 credits in either discipline
This course introduces the basic tools and methods of Game Theory. Game Theory is a mathematically oriented approach to understanding the strategic interaction of self-interested agents. Emphasis is on non-cooperative games. Topics include backwards induction, iterative deletion of dominated strategies, Nash equilibrium, repeated games, some equilibrium refinements, evolutionary game theory, and Bayesian Nash equilibria.

ECON 3401 (3CR)
SURVEY RESEARCH METHODS
Format: lecture 3 hours
Prereq: Six credits from Social Sciences; three credits from MATH 2311, PSYC 2011, GENS 2431, BIOL 3701; or permission of the Department
Exclusion: ECON 4981 Data Analysis I, II, Data and Research
The purpose of this course is to introduce students in social science disciplines to survey research methods. To achieve this goal, students will be taken through the complete survey development process. This will involve not only the development and administration of a survey questionnaire, sample selection, and statistical analysis but also collaboration with survey developers and parties interested in the survey administration. Presentation techniques will also be covered.

ECON 3501 (3CR)
ECONOMIC GROWTH AND TECHNOLOGICAL CHANGE
Format: lecture 3 hours
Prereq: ECON 1001 and 1011; or permission of the Department
This course covers economic theories of economic growth and technological change and their application in the study of the historical evolution of the world economy. Historical sections of the course will selectively cover materials on Canada, the US, Europe, Asia, and the developing world.

ECON 3531 (3CR)
ECONOMIC GROWTH AND DEVELOPMENT: JAPAN AND EAST ASIA
Format: lecture 3 hours
Prereq: ECON 3501; or permission of the Department
This course focuses on the economic performance of the economies of Japan, China, and other areas of eastern Asia. Economic history and major current events will be covered.

ECON 3551 (3CR)
INTERNATIONAL DEVELOPMENT
Format: lecture 3 hours
Prereq: ECON 3501; or permission of the Department
This course focuses on differences in the patterns of economic development in the world economy. The primary focus is the developing world and on national and international policies designed to improve the global distribution of income. The economic development policies of the World Bank, the International Monetary Fund, and the United Nations will be critically examined.

ECON 3601 (3CR)
PRINCIPLES OF COST-BENEFIT ANALYSIS
Format: lecture 3 hours
Prereq: ECON 2001; or permission of the Department
Note: Counts as a Commerce elective for students taking a Bachelor of Commerce or a Major or Minor in Commerce.
This course examines the use of economic theory in the assessment of public sector regulations and projects. Topics include the measurement of social costs and social benefits, shadow pricing, and the choice of discount rate. The course will rely heavily on concrete examples such as transportation infrastructure, medical services, environmental protection and hydro development.

ECON 3711 (3CR)
LABOUR MANAGEMENT RELATIONS
Format: lecture 3 hours
Prereq: ECON 1001 and 1011; or permission of the Department
Note: Counts as a Commerce elective for students taking a Bachelor of Commerce or a Major or Minor in Commerce.
An introduction to the history and institutions of the North American industrial relations system. Topics include: labour management techniques used by firms; unions and union strategies; government regulation of pay and working conditions; and the structure of collective bargaining.

ECON 3721 (3CR)
LABOUR ECONOMICS
Format: lecture 3 hours
Prereq: ECON 2001 and 2011; or permission of the Department
An introduction to labour economics. Topics covered include: the demand and supply of labour, the Canadian labour market and income distribution, unemployment, poverty, and discrimination in Canada.

ECON 3801 (3CR)
ENVIRONMENTAL ECONOMICS
Format: lecture 3 hours
Prereq: ECON 1001 and 1011; or permission of the Department
The application of economic analysis in the study of environmental problems. Students will examine when and why markets often fail to allocate sufficient resources to environmental conservation, and will critically assess different policy instruments available to correct for the fundamental "market failure". Using the analytical methods developed in this course, the following type of policies will be examined: measures to control air and water pollution, the disposal of hazardous wastes, the protection of endangered species, and the control of cross border pollution, including the Canadian "Green Plan".

ECON 3821 (3CR)
NATURAL RESOURCE ECONOMICS
Format: lecture 3 hours
Prereq: ECON 2001 and 2011, MATH 1111; or permission of the Department
The application of economic analysis to questions of management, use, and/or conservation of natural resources. Students will be exposed to economic theories used in the study of renewable and non renewable resource industries. Particular attention will be given to resource industries important to the Atlantic Canadian economy (the fishery, forestry, agriculture, mining, and energy).

ECON 3901 (3CR)
INTERNATIONAL TRADE
Format: lecture 3 hours
Prereq: ECON 1001 and 1011; or permission of the Department
Issues examined will include the pure economic theory of international trade and important institutions (the FTA, NAFTA, the EC, GATT, etc.), plus problems and policies associated with trade in goods and services. Students will examine issues such as free trade and protectionism and the gains and losses resulting from globalization.

ECON 3921 (3CR)
INTERNATIONAL FINANCE
Format: lecture 3 hours
Prereq: ECON 1001 and 1011; or permission of the Department
Note: Counts as a Commerce elective for students taking a Bachelor of Commerce or a Major or Minor in Commerce.
This course examines the financial side of international trade. The focus is on exchange rates, the balance of international payments, alternative means of adjustment to shocks in the international economy, and international monetary arrangements.

ECON-3991-A (3CR)
SPECIAL TOPICS: ENERGY ECONOMICS (Offered: 2012-2013)
Format: lecture 3 hours
Prereq: 6 CR from ECON 1001, 1011; or permission of the Department
This course examines the economics of producing, consuming, and pricing energy: energy supply; markets and price determinations; energy derivatives, hedging, and speculation; extraction technologies; theory of optimal extraction, resource rent and royalty; and government policies pertaining to energy security, energy efficiency, and CO2 emissions. It discusses aspects of oil, natural gas, coal, electricity, and renewable energy sectors. Current issues and market trends such as the implications of hydraulic fracturing in shale gas production and policy issues such as the rebound effects, electricity market deregulation, and technology adoptions (e.g. adoption of CCS) are also covered. Canadian experiences and issues are raised as both illustrative examples of the concepts learned as well as for the purpose of learning domestic issues and trends.  The course is distinct from resource economics with the exception of the theory of optimal extraction of exhaustible natural resources.
Fall Term 2012, M/W/F, 12:30—1:20; Instructor: Sam Gamtessa

ECON 3991B (3CR)
SPECIAL TOPICS: APPLIED TIME SERIES ANALYSIS (Offered: 2011-2012)
Format: lecture 3 hours
Prereq: 6CR from MATH 2311, ECON2701; or permission of the Department This course introduces the econometric analysis of time series. The emphasis is on the development of standard time series models and their application to economic and financial data, via practical examples.

ECON 4001 (3CR)
MODES OF CLASSICAL ECONOMIC THOUGHT
Format: lecture 3 hours
Prereq: 6 credits from ECON 2001, 2011, 2101 and 2111; or permission of the Department
This course focuses on the work of classical economists (especially Adam Smith, David Ricardo, Thomas Malthus) and the economic theories of Karl Marx.

ECON 4011 (3CR)
MODES OF ECONOMIC THOUGHT
Format: lecture 3 hours
Prereq: ECON 2001, 2011, 2101 and 2111; or permission of the Department
This course examines the historical origins of neo-classical, Austrian and Keynesian economics thought.

ECON 4501 (3CR)
PUBLIC FINANCE: TAXATION AND FISCAL FEDERALISM
Format: lecture 3 hours
Prereq: ECON 2001 and 2011; or permission of the Department
Note: Counts as a Commerce elective for students taking a Bachelor of Commerce or a Major or Minor in Commerce.
This course examines positive and normative approaches to taxation and fiscal federalism with special emphasis on issues in Canadian Public Finance.

ECON 4511 (3CR)
PUBLIC FINANCE: EXPENDITURES AND DEBT MANAGEMENT
Format: lecture 3 hours
Prereq: ECON 2001, 2011 and 2101; or permission of the Department
Note: Counts as a Commerce elective for students taking a Bachelor of Commerce or a Major or Minor in Commerce.
This course examines positive and normative approaches to public expenditures and debt management with special emphasis on issues in Canadian Public Finance.

ECON 4611 (3CR)
INDUSTRIAL ORGANIZATION: THEORY
Format: Lecture 3 Hours
Prereq: ECON 2001 and ECON 2011 and MATH 1111; or permission of the Department
Exclusion: ECON 3611
This course provides an overview of central theories of industrial organization, examining market power, the theory of the firm, and strategic behaviour, within classic and dynamic oligopoly theoretical frameworks. It makes explicit use of game theoretic techniques where appropriate. Topics may include: collusive and competitive behaviour, non-linear pricing, commitment and repeated games, and entry deterrence.

ECON 4621 (3CR)
INDUSTRIAL ORGANIZATION: POLICY
Format: Lecture 3 Hours
Prereq: ECON 2001 and ECON 2011 and MATH 1111; or permission of the Department
Exclusion: ECON 3621
This course examines the economics of vertical and horizontal constraints. It provides an introduction to regulatory economics and Canadian and International competition policy. Topics may include policy issues concerning the control of mergers, monopoly, predatory pricing, collusion, resale price maintenance, exclusive dealing, tying, and other contractual agreements including restrictions on contracting agents.

ECON 4700 (6CR)
ECONOMETRICS
Format: lecture 3 hours
Prereq: 6 credits from MATH 2221, ECON 2701; or 9 credits from MATH 2221, 3311, 3321; or permission of the Department
Note: Counts as a Commerce elective for students taking a Bachelor of Commerce or a Major or Minor in Commerce.
This course provides an introduction to the measurement of economic relationships.
Honours students who wish to pursue graduate studies in economics are strongly advised to take this course.

ECON 4801 (3CR)
ADVANCED ECONOMIC THEORY I
Format: lecture 3 hours
Prereq: ECON 2001, 2011, 2101, 2111, MATH 1121; or permission of the Department
Note: Counts as a Commerce elective for students taking a Bachelor of Commerce or a Major or Minor in Commerce.
The course is primarily concerned with developing tools and techniques for analyzing problems in microeconomics. These include modern theories of the consumer and of the firm, general equilibrium, and the welfare theorems. Honours students who wish to pursue graduate studies in economics are strongly advised to take this course.

ECON 4811 (3CR)
ADVANCED ECONOMIC THEORY II
Format: lecture 3 hours
Prereq: ECON 4801; or permission of the Department
Note: Counts as a Commerce elective for students taking a Bachelor of Commerce or a Major or Minor in Commerce.
The course is primarily concerned with developing tools and techniques for analyzing dynamic macroeconomic problems. Topics include growth models, overlapping generation models, and real business cycle models. Honours students who wish to pursue graduate studies in economics are strongly advised to take this course.

ECON 4821 (3CR)
UNCERTAINTY AND STRATEGY IN ECONOMICS
Format: lecture 3 hours
Prereq: ECON 2001, 2011, 2101, 2111; or permission of the Department
Note: Counts as a Commerce elective for students taking a Bachelor of Commerce or a Major or Minor in Commerce.
The course examines the roles played by uncertainty and asymmetric information in the allocation of resources. It also uses tools of probability theory to examine strategic interaction. Honours students who wish to pursue graduate studies in economics are strongly advised to take this course.

ECON 4950/4951 (6/3CR)
INDEPENDENT STUDY IN ECONOMICS
Format: Independent Study
Prereq: Permission of the Department/Program Advisor. Students must obtain consent of an instructor who is willing to be a supervisor and must register for the course prior to the last day for change of registration in the term during which the course is being taken.
Note: A program on Independent Study cannot duplicate subject matter covered through regular course offerings.
Note: Students may register for ECON 4950/51 more than once, provided the subject matter differs.
This course permits senior students, under the direction faculty members, to pursue their interest in areas not covered, or not covered in depth, by other courses through a program of independent study.

ECON 4990 (6CR)
HONOURS THESIS
Format: independent study/thesis
Prereq: Written permission of the Department
Note: Counts as a Commerce elective for students taking a Bachelor of Commerce or a Major or Minor in Commerce.
A student fulfilling requirements for an Honours degree may elect to undertake a research and writing project of acceptable scope and quality under the supervision of faculty members in Economics. The student must submit a formal proposal to the Department prior to registration.

ECON 1991/2991/3991/4991 (3CR)
SPECIAL TOPIC IN ECONOMICS
Format: Variable
Prereq: Set by the Department/Program when the topic and level are announced
Note: When a Department or Program intends to offer a course under this designation, it must submit course information, normally at least three months in advance, to the Dean.
Note: Students may register for ECON 1991/2991/3991/4991 more than once, provided the subject matter differs.
This course either focuses on topics not covered by the current course offerings in a department or program or offers the opportunity to pilot a course that is being considered for inclusion in the regular program.

ECON-4991-A (3CR)
SPECIAL TOPICS: MATHEMATICAL MODELS IN ECONOMICS (Offered: 2012-2013)
Format: lecture 3 hours
Prerequisites:  12 CR from ECON 2001, 2101, 2011, 2111 and 3CR from MATH 1111, 1151; or permission of the Department.  MATH 1121 is recommended for students who have completed MATH 1111.  MATH 2221 is recommended.This course is designed to prepare students for further work in economics at the graduate level.   Equilibrium and optimization analysis – both static and dynamic optimization in discrete and continuous times – are the main focus. The mathematical concepts are mainly taught using their applications to relevant microeconomic and macroeconomic models. 
Winter Term 2013, Tu/Th, 2:30—3:50; Instructor: Sam Gamtessa