University of Guelph 1999-2000 Undergraduate Calendar

XII--Course Descriptions


Department of Economics.

For courses without semester designations, please check with the department. Advance schedules are available in the department.

ECON*1100 Introductory Macroeconomics S,F,W(3-0) [0.50]

The Canadian economy: aggregate performance and policy; an analysis of the determinants of national income, employment and the price level, the role of government monetary and fiscal policies in improving the rate of economic growth. (Also offered through distance education format.)

ECON*1200 Introductory Microeconomics S,F,W(3-0) [0.50]

The Canadian economy: prices and markets; an analysis of the behaviour of consumers and business firms in determining prices and the allocation of resources. (Also offered through distance education format.)

Exclusions: ECON*12100

ECON*2000 Contemporary Economic Problems in Canada W(3-0) [0.50]

A study of important socio-economic issues in Canada using the basic principles of macro and microeconomics. Discussion and analysis of population, poverty, foreign ownership, regional development, etc.

Prerequisites: ECON*1100, ECON*1200

ECON*2100 Economic Growth and Environmental Quality F(3-0) [0.50]

An examination of the implications of economic growth on the quality of the environment, employing the basic principles of economic analysis. (Also offered through distance education format.)

Prerequisites: ECON*1200

ECON*2150 Introduction to Business Economics W(3-1) [0.50]

A course intended for those with an interest in economics as it pertains to business. (Not intended for students in Economics or Commerce programs.) Four modules to be completed: two on microeconomic principles and their application to business problems; one using on-line databases and electronic publications; one from a list of applied topics.

Exclusions: ECON*1100 and ECON*1200

ECON*2200 Industrial Relations F(3-0) [0.50]

This is a survey course of the Canadian industrial relations system. Among the topics covered are: the growth and objectives of unions, the legal framework of collective bargaining, the effects of unions on industry and the economy, industrial conflict and public policies.

Prerequisites: ECON*1200

ECON*2310 Intermediate Microeconomics S,F,W(3-1) [0.50]

The analysis of the behaviour of households and firms under alternative assumptions and market conditions.

Prerequisites: ECON*1200, (AGR*1101/2 or ECON*1100)

ECON*2320 Europe and the World Economy to 1914 F(3-0) [0.50]

An examination of the structure and growth of the European economy in the context of the world economy.

Prerequisites: (ECON*1100 or any 1.50 credits in history), ECON*1200

ECON*2410 Intermediate Macroeconomics S,F,W(3-1) [0.50]

The analysis of closed economy models of aggregate spending, output, employment, prices and interest rates under alternative assumptions about the nature of labour, product and financial markets. The analysis of theories of consumption, investment and money demand.

Prerequisites: ECON*1100, ECON*1200

ECON*2650 Introduction to the Economics of Developing Countries F(3-0) [0.50]

An introduction to major economic issues confronting third world countries.

Prerequisites: ECON*1100, ECON*1200

ECON*2720 Business History F(3-0) [0.50]

This course examines the changing organization of the business firm from proprietorship to corporation including the multinational corporation, 1870-1970. Other topics include the changing relationship between business firms and governments, the role of entrepreneur in the process of technical change and an evaluation of the impact of regional environment on the specific form of corporate development. Examples will be drawn from the Canadian experience.

Prerequisites: (ECON*1100 or any 1.50 credits in history), ECON*1200

ECON*2740 Economic Statistics F,W(3-1) [0.50]

A course designed to prepare students for ECON*3560, Theory of Finance and ECON*3740, Introduction to Econometrics. Topics include the summation operator, descriptive statistics, frequency distributions, probability and statistical independence, Bayes theorem, the binomial distribution, algebra of the expectation operator, discrete bivariate distributions, covariance, variance of a linear function of random variables, the normal distribution, sampling distributions, point and interval estimation, hypothesis tests and introduction to ordinary least squares. Examples and assignment questions are drawn from economics and finance.

Prerequisites: ECON*1100, ECON*1200, (1 of MATH*1000, MATH*1050, MATH*1080, MATH*1200)

ECON*2770 Introductory Mathematical Economics F,W(3-1) [0.50]

This course applies the elements of calculus and matrix algebra to simple microeconomic and macroeconomic problems.

Prerequisites: ECON*1100, ECON*1200, (1 of MATH*1000, MATH*1080, MATH*1200)

ECON*3200 Economics of Industrial Relations (3-0) [0.50]

An economic analysis of the Canadian industrial relations system. Emphasis is placed on understanding the theoretical implications of unions and collective bargaining practices for wage and employment outcomes. Empirical analysis of the nature and growth of unions and of their effect on industrial conflicts, public policy and the performance of the economy.

Prerequisites: ECON*2310

ECON*3500 Urban Economics (3-0) [0.50]

This course is designed to apply the basic principles of intermediate economic theory to problems facing urban areas with emphasis on Canada. Topics to be covered will include such things as housing, urban poverty, municipal financing, transportation.

Prerequisites: ECON*2310

ECON*3510 Money, Credit and the Financial System (3-0) [0.50]

Economics of the payments system, banking and other financial institutions and of credit markets. Bank of Canada operations and policy instruments. Monetary theory and policy.

Prerequisites: ECON*2310, ECON*2410

ECON*3520 Labour Economics (3-0) [0.50]

A study of the labour market, wage determination and the relationship between wages, employment, and prices.

Prerequisites: ECON*2310

ECON*3530 Industrial Organization (3-0) [0.50]

An examination of the economic organization of modern society with emphasis on Canadian institutions.

Prerequisites: ECON*2310, ECON*2770

ECON*3550 North American Economic History (3-0) [0.50]

Aspects of the North American economy since 1800 focusing on regional differences in the pace and structure of economic development. Canada will receive special attention.

Prerequisites: ECON*1100, ECON*1200, (ECON*2310 or HIST*2450)

ECON*3560 Theory of Finance F(3-0) [0.50]

Capital budgeting and long-term finance and investment decisions by firms and individuals. Introduction to capital asset pricing under uncertainty and to concept of efficient markets. Major emphasis is on corporate finance.

Prerequisites: ECON*2310, (1 of ECON*2740, STAT*1000, STAT*2040, STAT*2050, STAT*2060, STAT*2080, STAT*2090, STAT*2120)

ECON*3580 Economics of Regulation (3-0) [0.50]

A study of the economic reasons for government intervention in the marketplace. Emphasis will be placed on the role of crown corporations, regulatory agencies, regulation rules and public sector price-setting in the Canadian economy.

Prerequisites: ECON*2310

ECON*3600 Macroeconomics in an Open Economy (3-0) [0.50]

The analysis of open economy macroeconomic models with explicitly alternate assumptions about the international balance of payments and the behaviour of the foreign exchange market. Special emphasis is given to the role of international economic relationships in the analysis of Canadian macroeconomic issues.

Prerequisites: ECON*2410, ECON*2740

ECON*3610 Public Finance (3-0) [0.50]

The economics of government expenditures, revenues and debt. The application of public finance theory to the Canadian economy.

Prerequisites: ECON*2310, ECON*2410

ECON*3620 International Trade (3-0) [0.50]

An introduction to the general equilibrium analysis of international trade, international factor movements and commercial policy. Special emphasis is given to Canada's international trade relationships.

Prerequisites: ECON*2310

ECON*3660 Economics of Equity Markets (3-0) [0.50]

This course studies the economic literature regarding the determination of security prices and the operation of the stock market.

Prerequisites: ECON*3560

ECON*3710 Advanced Microeconomics S,F(3-1) [0.50]

An in-depth treatment of consumer and producer theory leading to the general equilibrium model of the economy and the study of welfare economics.

Prerequisites: ECON*2310, ECON*2770

ECON*3720 History of the World Economy since 1850 (3-0) [0.50]

Study of the evolution of the world economy since 1850. Topics may include the costs and benefits of empire to Britain, Anglo-German trade rivalry, the rise to prominence of "settler colonies", economic growth in the Third World, reparations and war debt, agricultural overproduction, origins of the Great Depression, the 1945-1973 boom in world production and trade.

Prerequisites: ECON*1100, ECON*1200, (1 of ECON*2310, HIST*2450, HUMN*2070, ISS*2010)

ECON*3740 Introduction to Econometrics (3-1) [0.50]

A computer-based course involving the specification and estimation of economic models and testing of economic hypotheses using appropriate test statistics. The concepts of multicollinearity, seasonality, dummy variables, auto correlation and specification errors including simultaneous equation bias will be discussed.

Prerequisites: ECON*2310, ECON*2410, ECON*2740, ECON*2770

ECON*4500 Topics in Urban Economics (3-0) [0.50]

This course will investigate selected theoretical and applied topics in urban economics in depth. Among topics which might be treated are location theory, the theory of spatial structure, transportation economics, the economics of housing, the economics of land use regulation, urban public finance.

Prerequisites: ECON*3710, ECON*3740

ECON*4710 Advanced Topics in Microeconomics (3-0) [0.50]

An intensive study of the scope, methodology, and content of contemporary microeconomics; selected topics in partial and general equilibrium analysis.

Prerequisites: ECON*3710

ECON*4720 Topics in Economic History (3-0) [0.50]

The use of economic theory to analyse the process of historical economic change.

Prerequisites: ECON*2310, 12.50 credits

ECON*4740 Econometrics I (3-0) [0.50]

This course discusses the classical linear regression model and its extensions including generalized least squares and the theory and application of F-statistics. The maximum likelihood principle is introduced, as are alternative approaches to testing, e.g. LM, LR and Wald tests. Additional topics at the instructor's discretion. Matrix algebra is used and important results are proved.

Prerequisites: ECON*3740

ECON*4750 Topics in Public Finance (3-0) [0.50]

Selected topics arising from the role of governments in resource allocation, income distribution, stabilization and budgetary policy.

Prerequisites: ECON*2410, ECON*3710

ECON*4760 Topics in Money and Finance (3-0) [0.50]

Selected topics in monetary economics such as theories of the demand for and supply of money, the nature and role of private banks and central banks, the transmission processes of monetary policy and in the theories of corporate finance and the pricing of financial assets.

Prerequisites: ECON*3600, ECON*3710, ECON*3740

ECON*4770 Mathematical Economics: Statics (3-0) [0.50]

The purpose of this course is to introduce the student to the mathematical techniques for static analysis of economic problems in a rigorous fashion. Comparative static methods, classical programming and nonlinear programming will be discussed.

Prerequisites: (AGEC*2270 or ECON*2770), ECON*3710

ECON*4780 Topics in Industrial Organization (3-0) [0.50]

A study of the history, theory and measurement of Canadian industrial structure. Emphasis is on the determinants of market structure in Canada and the relation of market structure to economic performance. Criteria for evaluating the latter are also studied.

Prerequisites: ECON*3710, ECON*3740

ECON*4790 Topics in Labour Market Theory (3-0) [0.50]

Selected topics in advanced labour market theory with emphasis on empirical evidence for the Canadian labour market.

Prerequisites: ECON*3710, ECON*3740

ECON*4800 Theory of Strategic Management (3-0) [0.50]

This course is about the creation and maintenance of long-term vision for the corporation from the perspective of the general manager. It is concerned with both the determination of strategic direction and the management of the strategic process. ECON*4800 may not be counted as a 4000 level economics course for purposes of satisfying the minimum 4000 level economics course requirements in the B.A. Honours Economics or B.A. Management Economics programs.

Prerequisites: AGEC*3320, ECON*2740, completion of semester 5

ECON*4810 Advanced Macroeconomic Theory (3-0) [0.50]

The theory of complex aggregate economic models; their assumptions, construction, and use in the analysis of macroeconomic activity.

Prerequisites: ECON*3600, ECON*3740

ECON*4830 Economic Development (3-0) [0.50]

A study of the theories, problems and policies of economic growth with special reference to underdeveloped countries.

Prerequisites: ECON*2310

ECON*4840 Econometrics II (3-0) [0.50]

This is a continuation of ECON*474 and deals with selected advanced topics in econometrics. Examples include: asymptotic distribution theory, the general theory of maximum likelihood estimation and computation, limited dependent variables and the analysis of micro, cross-section data.

Prerequisites: ECON*4740

ECON*4860 Seminar in Current Economic Problems (3-0) [0.50]

Examination in a seminar setting of selected contemporary economic problems.

Prerequisites: ECON*3600, ECON*3710, ECON*3740, or permission of instructor

ECON*4870 Mathematical Economics: Dynamics (3-0) [0.50]

The purpose of this course is to introduce the student to the techniques and application of dynamic analysis. The discussion concentrates on systems of differential equations, optimal control theory, etc.

Prerequisites: ECON*3600, ECON*3710

ECON*4880 Topics in International Economics (3-0) [0.50]

Selected topics involving the advanced analysis of the causes and effects of trade and financial flows and international factor movements.

Prerequisites: ECON*3600, ECON*3710, or permission of instructor

ECON*4890 History of Economic Thought (3-0) [0.50]

A study of the development of economic theory, the tools of economic analysis, and the evaluation of economics as a science, together with an analysis of the circumstances affecting this development.

Prerequisites: ECON*2310, ECON*2410

ECON*4900 Special Study in Economics S,F,W(3-0) [0.50]

The special study option is designed to provide senior undergraduate students with an opportunity to pursue an independent course of study. The subject matter will be related to regular 4000 level courses. Students will be required to submit a major paper/report on the subject matter studied. Formal agreement between the student and instructor of the course is required as well as the approval of the department chair or designate. One only of ECON*4900/ECON*4910 may count as one of the required minimum number of 4000 level economics courses in the B.A. programs.

Prerequisites: ECON*3600, ECON*3710, ECON*3740

ECON*4910 Special Study in Economics S,F,W(3-0) [0.50]

Same description as for ECON*4900.

ECON*4920 Co-operative Education Project (0-6) [0.50]

This independent study course requires co-operative education students to submit a report in which they apply their economics academic background to the analysis of some aspect of their work experience. The specific topic will be chosen in consultation with the Co-operative Education Faculty Advisor or another faculty member. The course will normally be taken concurrently with the student's final work term.

Prerequisites: registration in COOP*4000

ECON*4930 Environmental Economics (3-0) [0.50]

An advanced treatment of the interrelationship between economic activities and the state of the natural environment from the economists' point of view.

Prerequisites: ECON*2410, ECON*3710

ECON*4940 Model-Building, Forecasting and Simulation (3-0) [0.50]

This course examines the construction of single and multi-equation econometric models, evaluates various forecasting techniques and discusses the design of simulation experiments. Specific case studies will be drawn from various Canadian industries and several econometric models of the Canadian economy will be reviewed.

Prerequisites: ECON*3740

1999-2000 Undergraduate Calendar
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Last revised: January 1999.