University of Calgary : Economics ECON

Economics ECON

Instruction offered by members of the Department of Economics in the Faculty of Social Sciences.

Department Head – K.J. McKenzie

Junior Courses

Economics 201

Principles of Microeconomics

Principles of consumption, production, exchange: market and firm equilibrium under different competitive conditions. These principles are applied to various contemporary problems in the Canadian economy, such as the changing structure of agriculture, foreign ownership and control, and pollution.
Course Hours: H(3-1T)

Economics 203

Principles of Macroeconomics

National income determination, the monetary and banking system, and elementary fiscal and monetary policies. Contemporary problems of unemployment, inflation, economic growth, business cycles and the international economy.
Course Hours: H(3-1T)
Corequisite(s): Prerequisite or Corequisite: Economics 201 or consent of the Department.

Economics 209

Engineering Economics

The basic tools and methodology of engineering economic studies. Topics include investment decisions, theory of replacement, economies of scale, externalities, social decision making and government regulation. Examples are drawn from engineering projects.
Course Hours: H(3-1T)
Prerequisite(s): Registration in the Faculty of Engineering with second year standing or higher. If not registered in the Schulich School of Engineering, consent of the Department of Economics. If required for APEGGA, consent of the Schulich Undergraduate Studies Office.
Also known as: (Engineering 209 )

Senior Courses

Economics 301

Intermediate Economic Theory - Microeconomics I

Demand, production and costs in a market economy. Pricing in perfectly and imperfectly competitive markets.
Course Hours: H(3-0)
Prerequisite(s): Pure Mathematics 30; Economics 201 and 203 or consent of the Department.

Economics 303

Intermediate Economic Theory - Macroeconomics I

Introduction to the analysis of macroeconomic issues including the causes of recessions and unemployment, the determination of exchange rates, and the effects of government policies.
Course Hours: H(3-0)
Prerequisite(s): Pure Mathematics 30; Economics 201 and 203 or consent of the Department.

Economics 305

Computational Optimization and Economic Applications I

The use of linear optimization methods to structure and solve numerical resource allocation problems. Topics include model formulation, solution techniques, microcomputing software and duality. Numerous practical applications to economic, management and energy problems, including cost-benefit analysis.
Course Hours: H(3-1T)
Prerequisite(s): Economics 201 or consent of the Department.

Economics 307

Computational Optimization and Economic Applications II

Extensions of methods and models of linear optimization, including nonlinear optimization, with applications to economic, management, and energy problems.
Course Hours: H(3-1T)
Prerequisite(s): Economics 305 or consent of the Department.

Economics 311

Computer Applications in Economics

Use of spreadsheets for economics applications, including project evaluation with financial-economic functions, oil and gas prospect evaluation, investment portfolio management with database functions, database retrieval, and various topics in micro- and macro-economics.
Course Hours: H(3-1)
Prerequisite(s): Economics 201 and 203 or consent of the Department.

Economics 321

The Global Trading System

Introduction to the theory of international trade; provides a basis for examining Canadian trade policy, and regional and world trade institutions such as the WTO and NAFTA. Topics include: tariffs, non-tariff barriers and enhancements, countervail and anti-dumping action, multinational enterprises and international joint ventures.
Course Hours: H(3-0)
Prerequisite(s): Economics 201 and 203 or consent of the Department.

Economics 323

Natural Gas Markets

Operation of the natural gas industry in North America. Economics of exploration, development, production, marketing and transportation of natural gas. Impact of government regulations and deregulation.
Course Hours: H(3-0)
Prerequisite(s): Economics 201 and 203 or consent of the Department.

Economics 325

Petroleum in the North American Economy

The operation of the crude petroleum industry in North America, with particular reference to the exploration decision, market structure, and particular policy questions such as conservation, special taxation provisions, and regional income effects.
Course Hours: H(3-0)
Prerequisite(s): Economics 201 and 203 or consent of the Department.

Economics 327

Petroleum in the World Economy

The structure of the world petroleum industry, with particular reference to industry pricing policies, producer company - producer country bargaining, and consuming - country energy policies, including North American import policies.
Course Hours: H(3-0)
Prerequisite(s): Economics 201 and 203 or consent of the Department.

Economics 329

Electricity Markets

Economic analysis of the deregulated electric power industry including the pricing of power, energy and capacity, power supply and demand, market structure, market architecture, and the design and testing of market rules.
Course Hours: H(3-0)
Prerequisite(s): Economics 201 and 203 or consent of the Department.

Economics 337

Development Economics

An introduction to developing economies: the meaning, significance and purpose of economic development, major theories of economic development, economic problems of developing countries.
Course Hours: H(3-0)
Prerequisite(s): Economics 201 and 203 or consent of the Department.

Economics 339

Canadian Economic Development

The growth and development of the Canadian economy in relation to the endowment of natural resources, changing market conditions and technology, and Canadian public policy.
Course Hours: H(3-0)
Prerequisite(s): Economics 201 and 203 or consent of the Department.

Economics 341

Money and Banking

Operation of financial markets and institutions: the principles of money creation, interest rate determination, and central banking.
Course Hours: H(3-0)
Prerequisite(s): Economics 201 and 203 or consent of the Department.

Economics 345

Economic Analysis of Law

An introduction to the relationship between law and economics. Economic theory will be used to analyse property and tort law.
Course Hours: H(3-0)
Prerequisite(s): Economics 201 or consent of the Department.

Economics 349

The Economics of Social Problems

Contribution that economic analysis can make to the understanding of selected current social issues such as poverty, aging, crime, drug abuse and discrimination.
Course Hours: H(3-0)
Prerequisite(s): Economics 201 and 203 or cons ent of the Department.

Economics 355

Canadian Public Finance

Examination of the institutions behind and economic rationale for Canadian government policy relating to public expenditures and taxation. Topics include the history and present structure of government spending and taxation, tax expenditures, the budgetary process, inter-jurisdictional issues, and program design.
Course Hours: H(3-0)
Prerequisite(s): Economics 201 and 203 or consent of the Department.

Economics 357

Intermediate Economic Theory - Microeconomics II

Extensions of microeconomic topics such as factor markets, general equilibrium, and welfare economics.
Course Hours: H(3-0)
Prerequisite(s): Economics 301 and Mathematics 249 or 251 or 281 ; or consent of the Department.
Antirequisite(s): Note: Credit for both Economics 357 and either 309 or 529 will not be allowed.

Economics 359

Intermediate Economic Theory - Macroeconomics II

Extensions of macroeconomic topics such as theories of aggregate consumption and investment, interest rate theory, the demand for money, expectations in macro models and growth theory.
Course Hours: H(3-0)
Prerequisite(s): Economics 303 and Mathematics 249 or 251 or 281 ; or consent of the Department.
Antirequisite(s): Note: Credit for both Economics 359 and either 313 or 531 will not be allowed.

Economics 365

Regional Economics

The nature of economic regions. Choosing regions for development, regional income estimation and social accounting, inter-regional flow analysis, location theory, theory of regional growth and planning.
Course Hours: H(3-0)
Prerequisite(s): Economics 201 and 203 or consent of the Department.

Economics 367

Agricultural Economics

Introduction to the major economic forces affecting the agri-food sector, including technological change, price variability, environmental sustainability and international competition. Issues include government support mechanisms, international trade restrictions, industrialization of agriculture, economics of food safety and security, sustainable resource use and environmental conflict.
Course Hours: H(3-0)
Prerequisite(s): Economics 201 and 203 or consent of the Department.

Economics 371

Economic Analysis of Transportation

Modal choice by passengers, location choice by firms, capital investment choice. Cost, demand, and market structure related to the determination of transportation rates. Cost/Benefit analysis of transportation projects. Analysis will be related to contemporary aspects of ocean shipping, air, rail, trucking, pipelines and urban transportation.
Course Hours: H(3-0)
Prerequisite(s): Economics 201 and 203 or consent of the Department.

Economics 373

Game Theory and Strategic Thinking for the Social Sciences

An introduction to the principles of game theory utilizing a non-mathematical and intuitive approach. The principles of strategic thinking are illustrated by application and examples in economics and other social sciences. The course objective is to develop the ability of students to reason strategically and to understand how game theory can be used to explain social interaction.
Course Hours: H(3-0)

Economics 377

Economics of the Environment

An examination of the factors that inhibit an efficient allocation of the environment in a market economy. The types of economic policies that can be initiated to prevent environmental decay are studied. Economic theory and policy are applied to a variety of environmental problems, such as air and water pollution, solid waste disposal, and conservation.
Course Hours: H(3-0)
Prerequisite(s): Economics 201 and 203 or consent of the Department.

Economics 379

The Economics of Health

Theories and evidence regarding demand for health and health care, consumer and physician behaviour, asymmetric information in health care markets, and economic evaluation of health care programs.
Course Hours: H(3-0)
Prerequisite(s): Economics 201 and 203 or consent of the Department.

Economics 387

Introduction to Mathematical Economics I

Essential mathematical background for studying Economics: basic techniques of linear algebra and calculus, including unconstrained and constrained optimization, and their applications to resource allocation problems.
Course Hours: H(3-0)
Prerequisite(s): Economics 201 and 203 ; and Mathematics 211 ; and Mathematics 249 or 251 or 281 or 253 ; or consent of the Department.
Corequisite(s): Prerequisites or Corequisites: Economics 301 and 303 or consent of the Department.
Antirequisite(s): Note: Credit for both Economics 387 and either 304 or 521 will not be allowed.

Economics 389

Introduction to Mathematical Economics II

Further essential mathematical background for studying Economics, including exponential and logarithmic functions, eigenvalues and eigenvectors, quadratic forms, integration, and basic methods of dynamic analysis, and their applications to resource allocation problems.
Course Hours: H(3-0)
Prerequisite(s): Economics 387 or consent of the Department.
Antirequisite(s): Note: Credit for both Economics 389 and 304 will not be allowed.

Economics 395

Use of Statistics in Economics

Lectures: The use of statistical principles in economics. Topics include: the gathering of economic data; basic data manipulation and hypothesis testing; and the statistical estimation of economic relationships. The two-variable linear regression model is introduced. Laboratory: Quantitative analysis using standard statistical software.
Course Hours: H(3-1)
Prerequisite(s): Economics 201 and 203 and Statistics 211 or 213 ; or consent of the Department.
Antirequisite(s): Note: Credit for both Economics 395 and 315 will not be allowed.

Economics 397

Intermediate Economic Theory: Business Applications

Provides students with the opportunity to extend and apply key concepts introduced in Economics 301 and 357 . The objective is to provide students with the opportunity to develop expertise in the application and utilization of theory, as well as gain a greater appreciation for the strengths and limitations of microeconomic analysis.
Course Hours: H(3-0)
Prerequisite(s): Economics 357 .

Economics 399

Selected Topics in Economics I

A decimalized course in which topics will vary from year to year. Consult the timetable or the Department for the topics available in a given year.
Course Hours: H(3-0)
Prerequisite(s): Economics 201 and 203 or consent of the Department.
MAY BE REPEATED FOR CREDIT

Economics 401

Public Sector Economics: Expenditures

Theory of government spending. Topics include the nature of public goods and externalities, the pricing of public services, causes of growth of public expenditures, expenditure incidence, social insurance, social decision procedures, and political and bureaucratic influences.
Course Hours: H(3-0)
Prerequisite(s): Economics 303 and 357 ; or consent of the Department.

Economics 403

Public Sector Economics: Taxation

Theory of taxation. Topics include the rationale for and the incentive effects of taxation, efficiency and equity aspects of taxation, partial and general equilibrium tax incidence, open economy effects, choice of governing instruments, and tax reform.
Course Hours: H(3-0)
Prerequisite(s): Economics 303 and 357 ; or consent of the Department.

Economics 405

Political Economy of Public Policy

Introduction to the economic foundations of political economy and economic models of public sector policy formation. Potential topics are the role of institutions in policy design, theories of bureaucracy, political business cycles, the formation and behaviour of interest groups, and the strategic use of government debt.
Course Hours: H(3-0)
Prerequisite(s): Economics 303 and 357 ; or consent of the Department.

Economics 423

International Macroeconomics

Foreign exchange markets, and international macroeconomic connections with trade in assets as well as goods and services. Topics include: alternative exchange rate regimes; monetary and fiscal policy responses to problems of unemployment and inflation; balance of payments adjustment mechanisms; international debt; and Euro-dollar markets.
Course Hours: H(3-0)
Prerequisite(s): Economics 303 or 313 or consent of the Department.

Economics 425

International Trade

The general equilibrium treatment of the gains from trade, comparative advantage and trade patterns provides a basis for examining topics such as: trade policy under imperfect competition, trade policy and the environment, trade policy and economic growth, and preferential trading arrangements.
Course Hours: H(3-0)
Prerequisite(s): Economics 309 or 357 or consent of the Department
Corequisite(s): Economics 357 .
Notes: Completion of Economics 321 is recommended but not necessary.

Economics 427

Energy Economics and Policy

Microeconomic analysis of the allocation of energy resources with a focus on policy issues including the environment, OPEC, national security, price and entry regulation, market design, and the potential for new energy sources.
Course Hours: H(3-0)
Prerequisite(s): Economics 301 , 357 , 395 ; or consent of the Department.

Economics 431

The Canadian Labour Market

Economic analysis of migration, labour force participation, education, fertility, manpower policy, and the measurement and treatment of unemployment.
Course Hours:< /span> H(3-0)
Prerequisite(s): Economics 301 or 309; and 303 or 313; or consent of the Department.

Economics 433

Wage Determination

Wage and income determination; policies dealing with employment discrimination; and income redistribution.
Course Hours: H(3-0)
Prerequisite(s): Economics 301 or 309 or consent of the Department.

Economics 443

The Economics of Financial Markets

An introduction to the basic functions and structure of financial markets, and an analysis of the economic aspects of pricing decisions in securities markets. Institutional features, theoretical pricing and trading strategies in bond, stock, options, forward and futures markets will be examined.
Course Hours: H(3-0)
Prerequisite(s): Economics 341 and 357 ; or consent of the Department.

Economics 453

Cost-Benefit Analysis

Theoretical basis for social cost-benefit analysis, appraisal techniques for investment projects and public policies, and selected applications.
Course Hours: H(3-0)
Prerequisite(s): Economics 357 or consent of the Department.

Economics 465

Industrial Development of Alberta

Structure, growth and development of the provincial economy; evaluation of industrial projects and policy alternatives.
Course Hours: H(3-0)
Prerequisite(s): Economics 301 or 309; and 303 or 313; or consent of the Department.

Economics 471

Industrial Organization

Behaviour of firms in imperfectly competitive markets. Topics include the theory of strategic competition; dynamic price competition and tacit collusion; product differentiation, product selection, and preemption; entry deterrence and capacity competition; information, reputation, and predation; the economics of research and development; international trade and imperfectly competitive markets.
Course Hours: H(3-0)
Prerequisite(s): Economics 357 or consent of the Department.

Economics 475

Economics of Natural Resources I

Application of economic theory to the problems of natural resource pricing, allocation and conservation. Rent theory, location theory, intertemporal maximization. Natural resource policy formulation. Contemporary Canadian resource problems.
Course Hours: H(3-0)
Prerequisite(s): Economics 357 or consent of the Department.

Economics 477

Regulatory Economics

An introduction to economic regulation, its rationale, form and effects with a focus on the economic theory of regulation and on the practice, structure, and evolution of Canadian regulatory institutions.
Course Hours: H(3-0)
Prerequisite(s): Economics 471 or consent of the Department.

Economics 479

Experimental Economics

Introduces students to the use of and insights gained from experiments in economic research. Develops many of the concepts from Economics 301 and 357 , shedding new light on the assumptions of rationality, the design of markets, and the implementation of market institutions. Covers not only experimental methods, but also reviews some of the most important papers in the field. As part of the course, students will be participating in a variety of in-class experiments.
Course Hours: H(3-1)
Prerequisite(s): Economics 315 or 395 ; and 357.

Economics 481

Behavioural Economics

Major factors underlying economic behaviour including: various views of the role of rationality in economic analysis and in the economic decision making of individuals and institutions; determinants of individual preferences and decision making procedures; the experimental analysis of economic behaviour; inter-relations between the operation of the economic system and feelings of subjective well-being.
Course Hours: H(3-0)
Prerequisite(s): Economics 357 or consent of the Department.

Economics 483

History of Economic Thought

Traces the evolution of economic ideas from the earliest times up to and including the contributions of the classical economists and Marx. Emphasis will be on understanding these contributions both in terms of their historical context and their relationship to present-day theories and controversies.
Course Hours: H(3-0)
Prerequisite(s): Economics 301 or 309; and 303 or 313; or consent of the Department.

Economics 485

Economics of the Welfare State

This is a course in Public Economics. The focus is on ideas and economic analysis relevant to understanding the economics of the welfare state, where issues of income redistribution and social insurance are central.
Course Hours: H(3-0)
Prerequisite(s): Economics 301 , 357 , 395 , or consent of the Department.
Antirequisite(s): Note: Credit for both Economics 485 and 599 .10 will not be allowed.
Also known as: (formerly Economics 599 .10)

Economics 491

Comparative Economic Systems

A comparative study of theories of the organization of economic systems with reference to the economic institutions of contemporary economies. Selected examples of the mixed capitalist system, command economies and transitional systems embodying markets and economic planning.
Course Hours: H(3-0)
Prerequisite(s): Economics 301 or 309; and 303 or 313; or consent of the Department.

Economics 494

Applied Energy Economics

A capstone course where students apply their knowledge of energy economics to practical problems under the guidance of researchers at the Canadian Energy Research Institute (CERI).
Course Hours: F(3-0)
Prerequisite(s): Successful completion of all other required courses in the Applied Energy Economics program, or consent of the Department.
Notes: Normally only available to students registered in the Applied Energy Economics program.

Economics 495

Econometrics I

Introduction to the techniques used in quantifying economic relationships. Econometric principles of estimation and hypothesis testing will be applied to the various economic models. The use of a standard econometric software package is emphasized.
Course Hours: H(3-0)
Prerequisite(s): Economics 301 and 303 and 395 ; and Mathematics 249 or 251 or 281 ; or consent of the Department.
Antirequisite(s): Note: Credit for both Economics 495 and 419 will not be allowed.

Economics 497

Econometrics II

A more in-depth theoretical and empirical treatment of econometrics. Topics include: time series analysis, limited dependent variable estimation and simultaneous equation estimation.
Course Hours: H(3-0)
Prerequisite(s): Economics 357 and 359 and 495 ; and Mathematics 211 ; or consent of the Department.

Economics 499

Selected Topics in Economics II

A decimalized course in which topics will vary from year to year. Consult the timetable or the Department for the topics available in a given year.
Course Hours: H(3-0)
Prerequisite(s): Economics 301 or 309; and Economics 303 or 313; or consent of the Department.
MAY BE REPEATED FOR CREDIT

Economics 527

World Oil Economics

Analysis of the world oil industry in the post war period.
Course Hours: H(3-0)
Prerequisite(s): Economics 301 or 309; and 303 or 313; or consent of the Department.

Economics 529

Microeconomics with Applications

Intermediate microeconomic theory and welfare economics with special emphasis on applications. Topics include: demand theory and measurement; production and cost theory and measurement; market structure and pricing behaviour; pricing practices; regulation; antitrust law; and capital budgeting. Normally restricted to Master of Economics students.
Course Hours: H(3-0)
Prerequisite(s): Consent of the Department. It is recommended that Economics 521 be taken prior to or concurrently with Economics 529 .
Antirequisite(s): Note: Credit for both Economics 529 and either 309 or 357 will not be allowed.

Economics 537

Economic Growth

This is an advanced course in Macroeconomics which explores why some countries are rich and others are poor.
Course Hours: H(3-0)
Prerequisite(s): Economics 359 or consent of the Department.
Corequisite(s): Prerequisite or Corequisite: Economics 357 .

Economics 541

Monetary Theory

A survey of recent work in monetary theory with primary emphasis on financial issues.
Course Hours: H(3-0)
Prerequisite(s): Economics 341 and 357 and 359 ; or consent of the Department.
Corequisite(s): Prerequisite or Corequisite: Economics 315 or 395 .

Economics 557

Topics in Economic Theory I

Topics in microeconomic theory such as welfare economics and general equilibrium theory.
Course Hours: H(3-0)
Prerequisite(s): Economics 357 and 389 ; or consent of the Department.

Economics 559

Topics in Economic Theory II

Topics in macroeconomic theory such as consumption and growth.
Course Hours: H(3-0)
Prerequisite(s): Economics 315 or 359 ; and 359 and 389 ; or consent of the Department.

Economics 571

Competition Policy

The law and economics of competition policy. An examination of the economics, jurisprudence and history of competition policy towards mergers, price fixing, vertical restraints, and monopolization, primarily in Canada and the United States.
Course Hours: H(3-0)
Prerequisite(s): Economics 471 .

Economics 599

Selected Topics in Economics III

A decimalized course in which topics will vary from year to year. Consult the timetable or the Department for the topics available in a given year.
Course Hours: H(3-0)
Prerequisite(s): Economics 357 and 359 ; or consent of the Department.
MAY BE REPEATED FOR CREDIT

Graduate Courses Students are required to have departmental consent before registering in any of the following courses:

Economics 605

Advanced Computational Optimization and Economic Applications I

Course Hours: H(3-0)

Economics 607

Advanced Computational Optimization and Economic Applications II

Course Hours: H(3-0)
Prerequisite(s): Economics 605 .

Economics 611

Independent Study

Course Hours: H(3-0)
MAY BE REPEATED FOR CREDIT

Economics 615

Advanced Econometrics I

Course Hours: H(3-0)

Economics 617

Advanced Econometrics II

Course Hours: H(3-0)
Prerequisite(s): Economics 615 or consent of the Department.

Economics 619

Economics of International Commercial Policy

Course Hours: H(3-0)

Economics 621

International Trade

Course Hours: H(3-0)

Economics 625

The Economics of the Petroleum Industry

Course Hours: H(3-0)

Economics 627

Energy in the Production Sector of the Economy

Course Hours: H(3-0)

Economics 633

Labour Markets

Course Hours: H(3-0)

Economics 635

Regulatory Economics

Course Hours: H(3-0)

Economics 641

Monetary and Financial Economics

Course Hours: H(3-0)

Economics 643

Institutions and Growth

Course Hours: H(3-0)

Economics 645

Topics on Institutions and Economic Performance

Course Hours: H(3-0)

Economics 651

Redistribution and Social Insurance

Course Hours: H(3-0)
Also known as: (formerly Economics 611 .13)

Economics 653

Public Revenue Analysis

Course Hours: H(3-0)

Economics 655

Cost/Benefit Analysis

Course Hours: H(3-0)

Economics 657

Microeconomic Theory

Course Hours: H(3-0)

Economics 659

Macroeconomic Theory

Course Hours: H(3-0)

Economics 661

Behavioural Economics

Course Hours: H(3-0)

Economics 663

Experimental Economics

Course Hours: H(3-0)

Economics 667

Seminar in Industrial Organization

Course Hours: H(3-0)

Economics 675

Advanced Topics in Natural Resource Economics

Course Hours: H(3-0)

Economics 677

Seminar in Economics of the Environment

Course Hours: H(3-0)

Economics 679

Health Economics I

Applies basic concepts from economics to the examination of health and health care policy issues, such as why we have the kind of health care system we have, various aspects of health care reform, promotion of health, and evaluation in interventions.
Course Hours: H(3-0)
Prerequisite(s): Consent of the Department.
Also known as: (Medical Science 679 )

Economics 681

Health Economics II

Course Hours: H(3-0)

Economics 691

Research Methods I

Course Hours: Q(3-0)

Economics 693

Research Methods II

Course Hours: Q(3-0)

Economics 695

Research Methods III

Course Hours: H(3-0)

Economics 711

Independent Study

Course Hours: H(3-0)
MAY BE REPEATED FOR CREDIT

Economics 715

Advanced Topics in Econometrics

Course Hours: H(3-0)

Economics 757

Advanced Microeconomic Theory

Course Hours: H(3-0)

Economics 759

Advanced Macroeconomic Theory

Course Hours: H(3-0)

In addition to the numbered and titled courses shown above, the Department offers a selection of advanced level graduate courses specifically designed to meet the needs of individuals or small groups of students. These courses are numbered in the series 800.01 to 899.99. Such offerings are, of course, conditional upon the availability of staff resources.

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