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 Graduate Studies Calendar 2011-2012 Courses of Instruction Course Descriptions E Economics ECON
Economics ECON
ECON 605 607 611 615 617 619 621 625 627 633 635 641 643 645 651 653 655 657 659 661 663 667 675 677 679 681 691 693 695 711 715 757 759
 

Instruction offered by members of the Department of Economics in the Faculty of Arts.

Department Head – C. Bruce
 
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)
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Economics 607       Advanced Computational Optimization and Economic Applications II

Course Hours: H(3-0)
Prerequisite(s): Economics 605.
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Economics 611       Independent Study

Course Hours: H(3-0)
MAY BE REPEATED FOR CREDIT
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Economics 615       Advanced Econometrics I
The study of  the interrelated but conceptually distinct problems of identification and statistical inference in the context of economically interesting applications. The identification “problem” in economics is the problem of characterizing parameters of an econometric model from innumerable observable data, while statistical inference is the practice of using statistical tools to draw conclusions about the parameters of the model given finite observable data.
Course Hours: H(3-0)
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Economics 617       Advanced Econometrics II

Course Hours: H(3-0)
Prerequisite(s): Economics 615 or consent of the Department.
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Economics 619       Economics of International Commercial Policy
Examines important longstanding as well as contemporary issues from the economic literature on international trade. This course focuses on quantitative and empirical analysis. Specific topics typically covered are the factor content of trade, firm level and multinational behaviour, empirical testing of political economy determinants of protection, and assessing the environmental impact of trade agreements.
Course Hours: H(3-0)
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Economics 621       International Trade
Focuses on the microeconomic aspects of international economics with emphasis on general equilibrium models commonly employed in international economics. Specific topics covered include theories of international specialization and exchange, trade policy and economic welfare, international factor movement, trade and growth, under both perfect competition and imperfect competition, and selected problems of trade policy in the international trading system.
Course Hours: H(3-0)
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Economics 625       The Economics of the Petroleum Industry

Course Hours: H(3-0)
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Economics 627       Energy in the Production Sector of the Economy
The object is to teach students to use the tools of microeconomic analysis, institutional economics, and econometrics, to understand energy markets. There will be a focus on empirical studies of the energy business including (but not limited to) natural gas markets, crude oil markets, gasoline markets, electricity markets, coal markets, and public policies affecting energy markets.
Course Hours: H(3-0)
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Economics 633       Labour Markets
A study of aspects of labour markets using both microeconomic theory and empirical evidence. Focus will be on the econometric methods of analysis that are currently applied beyond the traditional boundaries of labour economics into public economics, the economics of crime, the economics of education, the economics of immigration, etc.
Course Hours: H(3-0)
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Economics 635       Regulatory Economics
An in-depth study of regulatory economics, defined as price and entry regulation. Price and entry regulation occurs when the state restricts who can provide services and approves the terms of service. A considerable part of the course will address regulatory restructuring in network industries, with case studies on electricity reform, local telecommunications, and pipelines.
Course Hours: H(3-0)
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Economics 641       Financial Economics
A review of  the main themes of financial economics and an introduction of  a number of frontier ideas that have marked the recent evolution of the discipline. The main focus is on asset pricing and the application of financial econometrics to modelling and prediction of financial data.
Course Hours: H(3-0)
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Economics 643       Institutions and Growth
A focus on how institutions influence macroeconomic outcomes. The main objective is to understand the role of economic, social and political institutions in economic backwardness and development.
Course Hours: H(3-0)
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Economics 645       Topics on Institutions and Economic Performance
A focus on the role of economic, social and political institutions in economic backwardness and development.
Course Hours: H(3-0)
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Economics 651       Redistribution and Social Insurance
A focus on the role of economic, social and political institutions in economic backwardness and development.
Course Hours: H(3-0)
Also known as: (formerly Economics 611.13)
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Economics 653       Public Revenue Analysis
A focus on the revenue side of public finance, primarily in the form of taxation. The equity and efficiency aspects of different taxes are considered, as is optimal tax design. Possible topics include the taxation of labour and capital, the impact taxation on savings and risk taking, and environmental and resource taxation.
Course Hours: H(3-0)
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Economics 655       Cost/Benefit Analysis
Theoretical and applied aspects of the use of cost-benefit techniques and applied welfare analysis in the evaluation of investment projects and public policies.
Course Hours: H(3-0)
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Economics 657       Microeconomic Theory
Introduction to advanced microeconomic theory. Standard topics include consumer theory, theory of the firm, and general equilibrium.
Course Hours: H(3-0)
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Economics 659       Macroeconomic Theory
Introduction to the basic structure of the dynamic general equilibrium framework that forms the backbone of most modern macroeconomics research. It also covers a number of selected topics such as economic growth, income inequality, inflation and unemployment.
Course Hours: H(3-0)
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Economics 661       Behavioural Economics
Survey of research incorporating psychological evidence into economics. Topics include fairness, altruism, prospect theory, self-control, biases in probabilistic judgment, mental accounting, and the relationship between markets, incentives, and attention and various cognitive processes.
Course Hours: H(3-0)
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Economics 663       Experimental Economics
The basics of using laboratory as a tool to test economic models.
Course Hours: H(3-0)
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Economics 667       Seminar in Industrial Organization
A focus on marker power: its acquisition, maintenance, and exercise. Both theory and application, with an emphasis on how industrial organization does, and should, inform competition policy and antitrust law, will be examined.
Course Hours: H(3-0)
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Economics 675       Advanced Topics in Natural Resource Economics
Examines economic models of the structure and nature of natural resource industries and their interaction with the rest of the economy. Studied are non-renewable and renewable resources and applies methods from capital theory, growth theory, public economics, and industrial organization to the study of natural resources.
Course Hours: H(3-0)
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Economics 677       Seminar in Economics of the Environment
Environmental economics describes the ways in which people interact with their natural environment and the policies that best achieve society's goals in this context. Topics vary from year to year and may include benefit-cost analysis, non-market valuation, choice of policy instruments, economic growth and the environment, biodiversity, global warming and international environmental treaties.
Course Hours: H(3-0)
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Economics 679       Health Economics I
An overview of topics in health economics. An introduction to economic principles and techniques which are of use in analyzing and planning health policy, in particular the delivery of health services, and for understanding the health behaviour of individuals.
Course Hours: H(3-0)
Prerequisite(s): Consent of the Department.
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Economics 681       Health Economics II
A general introduction to current research in the economics of health and medical care, geared to students with significant research interests related with these fields. Content of the course will be tailored to these interests. Topics such as: the Demand for Health and the Production of Health; Patient Behaviour and Insurance; Physician-induced Demand and Target Income; Physician Agency; Not-for-profit and For-profit Hospital; Hospital Competition will be included.
Course Hours: H(3-0)
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Economics 691       Research Methods I
Survey of research methods in economics. For course-based MA students.
Course Hours: Q(3-0)
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Economics 693       Research Methods II
Survey of research methods in economics. For course-based MA students.
Course Hours: Q(3-0)
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Economics 695       Research Methods III

Course Hours: H(3-0)
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Economics 711       Independent Study

Course Hours: H(3-0)
MAY BE REPEATED FOR CREDIT
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Economics 715       Advanced Topics in Econometrics
A survey of selected topics in modern applied microeconometrics. Recent developments in instrumental variables methods, methods to estimate treatment effects, notions of local causal effects, endogenous switching regressions, are among the topics that may be covered.
Course Hours: H(3-0)
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Economics 757       Advanced Microeconomic Theory
Building on Economics 657,  a comprehensive treatment of game theory, the economics of uncertainty and information, and the theory of incentives will be introduced.  Other topics may be included as time and interest allow.
Course Hours: H(3-0)
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Economics 759       Advanced Macroeconomic Theory
A survey of  the ideas, controversies, and techniques that constitute modern macroeconomics. The principal issues it covers lie at the heart of such important social problems as inflation, deficits and debts, and economic growth. The empirical study of many issues raised in theoretical and political debates is also emphasized.
Course Hours: H(3-0)
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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.