XII. Course Descriptions

Economics

Department of Economics and Finance

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

ECON*1050 Introductory Microeconomics S,F,W (3-0) [0.50]
An introduction to the Canadian economy: price determination, market structure and resource allocation; the behaviour of consumers and firms; market intervention by government. Some of the economic issues addressed may include agricultural price supports, rent control, the NAFTA, environmental regulation, price discrimination, pay equity, and taxation.
Offering(s): Also offered through Distance Education format.
Equate(s): ECON*1200
Department(s): Department of Economics and Finance
ECON*1100 Introductory Macroeconomics S,F,W (3-0) [0.50]
This course looks at the Canadian Economy in terms of aggregate performance and policy; analysis of the determinants of national income, employment and the price level, and the role of government monetary and fiscal policies in improving the rate of economic growth.
Offering(s): Also offered through Distance Education format.
Prerequisite(s): ECON*1050 or FARE*1040
Department(s): Department of Economics and Finance
ECON*2000 Economic Problems in Canada U (3-0) [0.50]
This course is a study of important socio-economic issues in Canada using the basic principles of macro and microeconomics. Topics may include population, poverty, foreign ownership, regional development, etc.
Prerequisite(s): ECON*1050, ECON*1100
Department(s): Department of Economics and Finance
ECON*2100 Economic Growth and Environmental Quality F (3-0) [0.50]
This course examines the implications of economic growth on the quality of the environment, employing the basic principles of economic analysis.
Offering(s): Also offered through Distance Education format.
Prerequisite(s): ECON*1050 or FARE*1040
Department(s): Department of Economics and Finance
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.
Prerequisite(s): ECON*1050
Department(s): Department of Economics and Finance
ECON*2310 Intermediate Microeconomics S,F,W (3-1) [0.50]
This course is an analysis of the behaviour of households and firms under alternative assumptions and market conditions.
Offering(s): Also offered through Distance Education format.
Prerequisite(s): ECON*1050, (1 of IPS*1500, MATH*1030, MATH*1080, MATH*1200)
Department(s): Department of Economics and Finance
ECON*2410 Intermediate Macroeconomics S,F,W (3-1) [0.50]
This course is an analysis of open as well as 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.
Offering(s): Also offered through Distance Education format.
Prerequisite(s): ECON*1100, (1 of IPS*1500, MATH*1030, MATH*1080, MATH*1200)
Department(s): Department of Economics and Finance
ECON*2420 Canadian Economic History U (3-0) [0.50]
This course surveys the development of the Canadian economy from the aboriginal economy to the early fur and fish trades, agricultural settlement, industrialization, the Great Depression, growth of the public sector and fast economic growth after World War Two. Particular attention is paid to international economic relations and to regional differences within Canada.
Prerequisite(s): ECON*1050, (ECON*1100 or HIST*2450)
Department(s): Department of Economics and Finance
ECON*2560 Theory of Finance F,W (3-0) [0.50]
This course looks at capital budgeting and long-term finance and investment decisions by firms and individuals. It introduces capital asset pricing under uncertainty and the concept of efficient markets. A major emphasis is on corporate finance.
Offering(s): Also offered through Distance Education format.
Prerequisite(s): ECON*1050, (1 of , IPS*1500, MATH*1030, MATH*1080, MATH*1200), (1 of ECON*2740, PSYC*1010, PSYC*2010, SOAN*2120, STAT*2040, STAT*2060, STAT*2080, STAT*2120)
Restriction(s): ECON*3460, ECON*3560
Department(s): Department of Economics and Finance
ECON*2650 Introductory Development Economics F (3-0) [0.50]
This course introduces students to the economic experience of developing countries, the ways in which economists try to understand it, and the implications for policy. The basic tools of economic analysis as taught in the introductory courses are used to analyse topics that may include theories of growth, trade, education, foreign investment, exchange rates, labour markets, the role of government, environmental sustainability and strategies related to agriculture, population, industry and investment.
Prerequisite(s): ECON*1050, ECON*1100
Department(s): Department of Economics and Finance
ECON*2720 Business History W (3-0) [0.50]
This course surveys the evolution of economic activity and organization from the industrial revolution to the present. Particular attention is given to the changing relationship between technology and business organization, the shift from proprietorship to corporation and the rise of multinational enterprise. Other topics may include the relationship between business and government, the role of the entrepreneur in the process of technical change and the evolution .of work patterns and standards of living.
Prerequisite(s): ECON*1050, (ECON*1100 or any 1.50 credits in history)
Department(s): Department of Economics and Finance
ECON*2740 Economic Statistics F,W (3-1) [0.50]
This course is designed to prepare students conceptually and mathematically for ECON*2560, Theory of Finance and ECON*3740, Introduction to Econometrics. Topics include the summation operator, descriptive statistics, frequency distributions, probability and statistical independence, the binomial distribution, algebra of the expectation operator, discrete bivariate distributions, covariance, variance of a linear function of random variables, the normal and t distributions, sampling distributions, point and interval estimation, hypothesis testing and an introduction to ordinary least squares. Additional topics may be included at the instructor's discretion. Examples and assignment questions are drawn from economics and finance.
Prerequisite(s): ECON*1100, (ECON*1050, or FARE*1040), (1 of MATH*1000, MATH*1030, MATH*1050, MATH*1080, MATH*1200)
Department(s): Department of Economics and Finance
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.
Prerequisite(s): ECON*1100, (ECON*1050, or FARE*1040), (1 of MATH*1000, MATH*1030, MATH*1080, MATH*1200)
Department(s): Department of Economics and Finance
ECON*3100 Game Theory W (3-1) [0.50]
The course introduces students to non-cooperative game theory, which is an important method of analysis for economics situations involving small numbers of interacting economic agents. The course is centered on the concept of Nash equilibrium, and applies this equilibrium concept to static and dynamic games with full as well as incomplete information. The purpose of the course is to enable students to take any economic situation, find an economic model (game) that depicts the incentives facing the participants, and analyze the game to predict the behaviour of the economic agents.
Prerequisite(s): ECON*2310, ECON*2410, (ECON*2770 or MATH*1210)
Restriction(s): ECON*3770
Department(s): Department of Economics and Finance
ECON*3300 Economics of Health and the Workplace U (3-0) [0.50]
This course will introduce students to concepts of health economics with particular relevance to workplace issues. Topics to be covered include the determinants of health, the demand for and supply of health care, the market for health care providers, health insurance, public and private, the role of health insurance in the labour market, whether not having to provide comprehensive health insurance to their workers gives Canadian firms an edge over their American competitors, workplace health risks and their effects on working conditions and salaries, workplace wellness programs and their evaluation, and the analysis of the cost effectiveness of health interventions.
Prerequisite(s): ECON*2310, (1 of ECON*2740, PSYC*2010, STAT*2040, STAT*2050, STAT*2060, STAT*2080, STAT*2090, STAT*2100, STAT*2120)
Department(s): Department of Economics and Finance
ECON*3360 The Strategy of Mergers and Acquisitions F (3-0) [0.50]
As changes occur in product markets, public policy, and technology, the scope and scale required for companies to be competitive often changes as well. This course examines the role of mergers and acquisitions (M&A) in repositioning companies to remain competitive, to grow, or to exit. The course also examines how M&A can create value across a range of company types and situations. A means of assessment of M&A success or failure is provided and the course outlines the processes and skills required for successful M&A strategies, relevant to executives and supporting professional services in most industries today.
Prerequisite(s): ECON*2310, ECON*2410, ECON*2560
Department(s): Department of Economics and Finance
ECON*3400 The Economics of Personnel Management U (3-0) [0.50]
In this course, we examine the economics of personnel management in organizations. Using mainstream microeconomic and behavioural economic theory, we will consider such issues as recruitment, promotion, financial and non-financial incentives, compensation, job performance, performance evaluation, and investment in personnel. The interplay between theoretical models and empirical evidence will be emphasized in considering different approaches to the management of personnel.
Prerequisite(s): ECON*2310 or ECON*2200
Department(s): Department of Economics and Finance
ECON*3500 Urban Economics U (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.
Prerequisite(s): ECON*2310
Department(s): Department of Economics and Finance
ECON*3520 Labour Economics U (3-0) [0.50]
A study of the labour market, wage determination and the relationship between wages, employment, and prices.
Prerequisite(s): ECON*2310, (1 of ECON*2740, PSYC*2010, STAT*2040, STAT*2050, STAT*2060, STAT*2080, STAT*2090, STAT*2100, STAT*2120)
Department(s): Department of Economics and Finance
ECON*3530 Industrial Organization U (3-0) [0.50]
This course examines industries in which firms have the potential to exercise market power. Topics include how the competitive environment affects the behaviour of firms, measuring the extent of market power on welfare. The performance of markets under monopolies, dominant firms, cartels and oligopolies is examined and related aspects of Canadian competition policy and regulations are discussed.
Prerequisite(s): ECON*2310, (ECON*2770 or MATH*1210)
Department(s): Department of Economics and Finance
ECON*3580 Economics of Regulation U (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.
Prerequisite(s): ECON*2310
Department(s): Department of Economics and Finance
ECON*3610 Public Economics U (3-0) [0.50]
This course examines the interventionist role of government in the economy. It examines several sources of market failure which are used to justify government intervention. These include public goods, externalities and redistribution. The course also evaluates alternative sources of government revenue from the perspectives of both equity and efficiency. These include the personal and corporate income taxes, sales taxes and wealth taxes.
Prerequisite(s): ECON*2310
Department(s): Department of Economics and Finance
ECON*3620 International Trade U (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.
Prerequisite(s): ECON*2310
Department(s): Department of Economics and Finance
ECON*3660 Economics of Equity Markets U (3-0) [0.50]
This course studies the economic literature regarding the determination of security prices and the operation of the stock market.
Offering(s): Also offered through Distance Education format.
Prerequisite(s): ECON*2310, (ECON*2560 or ECON*3560)
Department(s): Department of Economics and Finance
ECON*3710 Advanced Microeconomics F,W (3-1) [0.50]
This course provides an in-depth treatment of consumer and producer theory leading to the general equilibrium model of the economy and the study of welfare economics.
Prerequisite(s): ECON*2310, (ECON*2770 or MATH*1210). A grade average of 70% or more in these courses is recommended.
Department(s): Department of Economics and Finance
ECON*3730 The Origins of International Inequality U (3-0) [0.50]
This course surveys the world economy with a particular focus on the industrial revolution, demographic change, the rise to prominence of ‘settler colonies’, globalization and the origins of international inequality.
Prerequisite(s): 9 credits including ECON*1050, ECON*1100
Department(s): Department of Economics and Finance
ECON*3740 Introduction to Econometrics F,W (3-1) [0.50]
This computer-based course involves the specification and estimation of economic models and the testing of economic hypotheses using appropriate test statistics. Topics include the summation operator, expectation operator, ordinary least squares estimation, dummy variables, seasonality, multicollinearity, heteroskedasticity, autocorrelation, data sources (including uses of the Data Resource Centre). Additional topics may be included at the instructor's discretion. Heavy emphasis will be placed on applications and writing up results. Some use of spreadsheet software (e.g. QuattroPro, Excel) and statistical software (e.g. TSP, SHAZAM) will be required.
Prerequisite(s): ECON*2310, ECON*2410, ( 1 of ECON*2740, STAT*2040, STAT*2060, STAT*2080), (ECON*2770 or MATH*1210)
Department(s): Department of Economics and Finance
ECON*3760 Fundamentals of Derivatives W (3-0) [0.50]
This course covers the fundamentals of derivatives with emphasis on theory and empirical applications in the context of corporate price risk management. Issues of corporate governance and business ethics as they relate to price risk management will be considered.
Prerequisite(s): ECON*2310, (1 of ECON*2560, ECON*3460, ECON*3560)
Restriction(s): AGEC*4240, FARE*4240
Department(s): Department of Economics and Finance
ECON*3810 Advanced Macroeconomics W (3-0) [0.50]
This course provides an advanced study of a wide range of issues in intertemporal macroeconomics. When constructing macroeconomic models in this course we will explicitly take into account microeconomic foundations. The models constructed will be used to study short-run fluctuations (or business cycles) and long term growth, and to explain cross country income disparities. Topics also include open economy macroeconomic issues.
Prerequisite(s): ECON*2410, (ECON*2740 or STAT*2040), (ECON*2770 or MATH*1210)
Equate(s): ECON*3600
Department(s): Department of Economics and Finance
ECON*3860 International Finance F (3-0) [0.50]
This course focuses on international macroeconomic issues: the balance of payments; models of exchange rate determination; foreign exchange risk and covered interest arbitrage; alternative exchange rate regimes; small versus large economies; monetary and fiscal policy in an open economy.
Prerequisite(s): ECON*2410, (ECON*2560 or ECON*3560)
Equate(s): ECON*3600
Department(s): Department of Economics and Finance
ECON*3960 Money, Credit and the Financial System U (3-0) [0.50]
This course explores the economics of banking, other financial institutions and credit markets.
Prerequisite(s): ECON*2410, (1 of ECON*2560, ECON*3560, REAL*2820)
Equate(s): ECON*3510
Department(s): Department of Economics and Finance
ECON*4400 Economics of Organizations and Corporate Governance U (3-0) [0.50]
This course introduces students to the latest developments in the economic analysis of the inside workings of firms. The course is centered on the concept of organizational structure, which is made up of three variables: allocation of decision rights, performance evaluation and performance incentives. The course tries to explain the diversity of economic organizations, and more generally, why economic activity is sometimes carried out through firms and sometimes through markets.
Offering(s): Offered through Distance Education format only.
Prerequisite(s): ECON*2310 Students must have completed a minimum of 12 credits.
Department(s): Department of Economics and Finance
ECON*4500 Topics in Urban Economics U (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.
Prerequisite(s): ECON*3740, (ECON*3710 or ECON*3500)
Department(s): Department of Economics and Finance
ECON*4560 Advanced Topics in Finance U (3-0) [0.50]
This course will examine selected advanced topics in finance, such as optimal capital structure under asymmetric information; theoretical and empirical analysis of mergers and acquisitions; asset pricing theory; pricing derivative securities; and financial econometrics.
Prerequisite(s): (ECON*2560 or ECON*3560), ECON*3710, (1 of ECON*3100, ECON*3770, ECON*3810, ECON*4700), ECON*3740, (2 of ECON*3360, ECON*3510, ECON*3660, ECON*3760, FARE*4240, ECON*3860, ECON*3960)
Department(s): Department of Economics and Finance
ECON*4640 Applied Econometrics I F (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 tests. The maximum likelihood principle is introduced, as are alternative approaches to testing, e.g. LM, LR and Wald tests. Additional topics may be included at the instructor's discretion. Matrix algebra is used and proof of the Gauss-Markov theorem is included, but discussion of proofs is in general limited in order to allow substantial applications to data using statistical software such as TSP, SHAZAM, SAS, STATA.
Prerequisite(s): ECON*3740
Equate(s): ECON*4740
Department(s): Department of Economics and Finance
ECON*4660 Risk Management in Finance and Insurance U (3-0) [0.50]
This course covers the advanced theory and applications of derivatives (for underlying assets such as equity and debt instruments, real assets and exchange rate instruments) and insurance in managing risk.
Prerequisite(s): ECON*3710, (1 of ECON*3360, ECON*3660, ECON*3760, ECON*3860, ECON*3960, FARE*4240)
Department(s): Department of Economics and Finance
ECON*4700 Advanced Mathematical Economics F (3-1) [0.50]
This course provides students with the necessary mathematical skills required to build rigorous models in economics, including differential and integral calculus, optimization and comparative statics analysis and advanced topics in linear algebra. It continues in the second half with application to modelling in a particular area of economics. The specific area will vary from year to year, and can include such topics as general equilibrium modelling, mathematical finance models, or economics of the environment.
Prerequisite(s): ECON*3710, ECON*3740
Department(s): Department of Economics and Finance
ECON*4710 Advanced Topics in Microeconomics F (3-0) [0.50]
An intensive study of the scope, methodology, and content of contemporary microeconomics; selected topics in partial and general equilibrium analysis.
Prerequisite(s): ECON*3710
Department(s): Department of Economics and Finance
ECON*4720 Topics in Economic History U (3-0) [0.50]
This course uses economic theory to analyse the process of historical economic change.
Prerequisite(s): 12.50 credits including (1 of ECON*2310, ECON*2720, ECON*3720, ECON*3730)
Department(s): Department of Economics and Finance
ECON*4750 Topics in Public Economics U (3-0) [0.50]
This course examines selected topics related to the expenditure and taxation functions of government. Topics may include issues in public good theory such as the free rider problem, the problem of eliciting truthful revelation of preferences and the use of taxes as a corrective device for externalities. The course may also address optimal taxation as well as tax evasion. Throughout this course the trade-off between efficiency and equity is emphasized.
Prerequisite(s): ECON*3710
Department(s): Department of Economics and Finance
ECON*4760 Topics in Monetary Economics U (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 are examined.
Prerequisite(s): (ECON*3600 or ECON*3810), ECON*3740, (1 of ECON*3510, ECON*3710, ECON*3960)
Department(s): Department of Economics and Finance
ECON*4780 Topics in Industrial Organization U (3-0) [0.50]
Selected topics in the theoretical and empirical study of the organization and performance of firms and markets are covered in this course. Topics may include: strategic behaviour of firms such as actions to deter entry of rivals, pre-emptive choice of location and product quality, and research and development; the regulation of firms under uncertainty; econometric analysis of the use of market power; and modern advances in the theory of the firm.
Prerequisite(s): ECON*3530, ECON*3740
Department(s): Department of Economics and Finance
ECON*4790 Topics in Labour Market Theory U (3-0) [0.50]
Selected topics in advanced labour market theory with emphasis on empirical evidence for the Canadian labour market are covered in this course.
Prerequisite(s): ECON*3740, (ECON*3710 or ECON*3520)
Department(s): Department of Economics and Finance
ECON*4800 Competitiveness and Strategic Advantage U (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.
Prerequisite(s): 14.50 credits including (1 of AGEC*3320, BUS*3320, MGMT*3320), ECON*2310, (ECON*2560 or ECON*3560)
Department(s): Department of Economics and Finance
ECON*4810 Advanced Topics in Macroeconomics W (3-0) [0.50]
This course explores the theory of complex aggregate economic models; their assumptions, construction, and use in the analysis of macroeconomic activity.
Prerequisite(s): (ECON*3600 or ECON*3810), ECON*3710, ECON*3740
Department(s): Department of Economics and Finance
ECON*4830 Economic Development U (3-0) [0.50]
A study of the theories, problems and policies of economic growth with special reference to underdeveloped countries.
Prerequisite(s): ECON*2310
Department(s): Department of Economics and Finance
ECON*4840 Applied Econometrics II W (3-0) [0.50]
This is a continuation of ECON*4640 and deals with asymptotic theory, maximum likelihood estimation, instrumental variables, simultaneous equation models and selected topics such as models for limited dependent variables, models for panel data, ARCH models, units roots and error correction models. There will be applications to data using statistical software.
Prerequisite(s): ECON*4640
Department(s): Department of Economics and Finance
ECON*4860 Seminar in Current Economic Problems U (3-0) [0.50]
In a seminar setting, selected contemporary economic problems are examined.
Prerequisite(s): (ECON*3600 or ECON*3810), ECON*3710, ECON*3740
Department(s): Department of Economics and Finance
ECON*4880 Topics in International Economics U (3-0) [0.50]
Selected topics involving the advanced analysis of the causes and effects of trade and financial flows and international factor movements are covered in this course.
Prerequisite(s): (1 of or ECON*3610, ECON*3810, ECON*3860), (ECON*3710 or ECON*3620)
Department(s): Department of Economics and Finance
ECON*4890 History of Economic Thought U (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.
Prerequisite(s): ECON*2310, ECON*2410
Department(s): Department of Economics and Finance
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.
Prerequisite(s): (ECON*3600 or ECON*3810), ECON*3710, ECON*3740
Department(s): Department of Economics and Finance
ECON*4910 Special Study in Economics S,F,W (3-0) [0.50]
Same description as for ECON*4900.
Department(s): Department of Economics and Finance
ECON*4930 Environmental Economics U (3-0) [0.50]
This course is an advanced treatment of the interrelationship between economic activities and the state of the natural environment from an economics perspective.
Prerequisite(s): 14.50 credits including ECON*2310, ECON*2410, ECON*2770
Department(s): Department of Economics and Finance
University of Guelph
50 Stone Road East
Guelph, Ontario, N1G 2W1
Canada
519-824-4120