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.

ECON 1001 (3.00)
Principles of Microeconomics
Exclusion: ECON 1000
A general introduction to the study of Economics and the nature of economic problems. Of primary concern is the behaviour of consumers and firms in different markets, and the results of their actions as manifested in production, costs, and prices. Market efficiency and market failure are also examined. (Format: Lecture 3 Hours, Tutorial 1 Hour) [Note 1: Students should normally have completed a university preparatory level course in Mathematics.]

ECON 1011 (3.00)
Principles of Macroeconomics
Exclusion: ECON 1000
A general introduction to the study of Economics and the nature of economic problems. Of primary concern is the determinants of the level of national income, employment, and the accompanying stabilization problems and policies. Topics also include money and banking. international trade, exchange rates, and the problems of inflation. (Format: Lecture 3 Hours, Tutorial 1 Hour)

ECON 1991 (3.00)
Special Topic in Economics
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. (Format: Variable) [Note 1: Prerequisite set by Department/Program when the topic and level are announced. Note 2: 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 3: Students may register for ECON 1991 more than once, provided the subject matter differs.]

ECON 2001 (3.00)
Intermediate Microeconomics I
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. (Format: Lecture 3 Hours)

ECON 2011 (3.00)
Intermediate Microeconomics II
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. (Format: Lecture 3 Hours)

ECON 2101 (3.00)
Intermediate Macroeconomics I
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. (Format: Lecture 3 Hours)

ECON 2111 (3.00)
Intermediate Macroeconomics II
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. (Format: Lecture 3 Hours)

ECON 2301 (3.00)
Economic Issues in Canadian Public Policy I
Prereq: Six credits from Social Sciences; or permission of the Department
Exclusion: Any version of ECON 2301 previously offered with a different title
This course introduces analytical methods used by social scientists examining Canadian social and economic policy by studying issues that arise perennially. Topics may include: unemployment and government policy, Canada and the global economy, social security reform, regionalism, education policy, health policy, and inflation. (Format: Lecture 3 Hours)

ECON 2311 (3.00)
Economic Issues in Canadian Public Policy II
Prereq: Six credits from Social Sciences; or permission of the Department
Exclusion: Any version of ECON 2311 previously offered with a different title
This course provides a critical study of current debates on economic and social policy in Canada. (Format: Lecture 3 Hours)

ECON 2701 (3.00)
Introduction to Econometrics
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. (Format: Lecture 3 Hours)

ECON 2991 (3.00)
Special Topic in Economics
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. (Format: Variable) [Note 1: Prerequisite set by Department/Program when the topic and level are announced. Note 2: 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 3: Students may register for ECON 2991 more than once, provided the subject matter differs.]

ECON 3101 (3.00)
Law and Economics
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. (Format: Lecture 3 Hours)

ECON 3111 (3.00)
Health Economics
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. (Format: Lecture 3 Hours)

ECON 3201 (3.00)
Money, Banking, and the Canadian Financial System: Microeconomic Perpectives
Prereq: ECON 1001 and 1011; or permission of the Department
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. (Format: Lecture 3 Hours) [Note 1: Counts as a Commerce elective for students taking a Bachelor of Commerce or a Major or Minor in Commerce.]

ECON 3211 (3.00)
Money, Banking, and the Canadian Financial System: MacRoeconomic Perpectives
Prereq: ECON 1001 and 1011; or permission of the Department
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. (Format: Lecture 3 Hours) [Note 1: Counts as a Commerce elective for students taking a Bachelor of Commerce or a Major or Minor in Commerce.]

ECON 3301 (3.00)
Introduction to Game Theory
Prereq: ECON 1001 and ECON 1011; or MATH 1111 or 1151 or permission of the Department
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. (Format: Lecture 3 hours, Laboratory 1 Hour) [Note 1: This course is cross-listed as MATH 3301 and therefore may count as 3 credits in either discipline.]

ECON 3401 (3.00)
Survey Research Methods
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. (Format: Lecture 3 Hours)

ECON 3501 (3.00)
Economic Growth and Technological Change
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. (Format: Lecture 3 Hours)

ECON 3601 (3.00)
Principles of Cost-Benefit Analysis
Prereq: ECON 2001; or permission of the Department
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. (Format: Lecture 3 Hours) [Note 1: Counts as a Commerce elective for students taking a Bachelor of Commerce or a Major or Minor in Commerce.]

ECON 3711 (3.00)
Labour Management Relations
Prereq: ECON 1001 and 1011; or permission of the Department
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. (Format: Lecture 3 Hours) [Note 1: Counts as a Commerce elective for students taking a Bachelor of Commerce or a Major or Minor in Commerce.]

ECON 3721 (3.00)
Labour Economics
Prereq: ECON 2001; or permission of the Department
This course introduces labour economics. Topics covered include the demand and supply of labour, the Canadian labour market and income distribution, unemployment, poverty, and discrimination in Canada. (Format: Lecture 3 Hours)

ECON 3801 (3.00)
Environmental Economics
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". (Format: Lecture 3 Hours)

ECON 3821 (3.00)
Natural Resource Economics
Prereq: ECON 2001 and 3 credits from MATH 1111, 1151; or permission of the Department
This course examines the application of economic analysis to questions of management, use, and conservation of natural resources. It exposes students to economic theories used in the study of renewable and non-renewable resource industries. It pays particular attention to resource industries important to the Atlantic Canadian economy (the fishery, forestry, agriculture, mining, and energy). (Format: Lecture 3 Hours)

ECON 3901 (3.00)
International Trade
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. (Format: Lecture 3 Hours)

ECON 3921 (3.00)
International Finance
Prereq: ECON 1001 and 1011; or permission of the Department
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. (Format: Lecture 3 Hours) [Note 1: Counts as a Commerce elective for students taking a Bachelor of Commerce or a Major or Minor in Commerce.]

ECON 3991 (3.00)
Special Topic in Economics
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. (Format: Variable) [Note 1: Prerequisite set by Department/Program when the topic and level are announced. Note 2: 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 3: Students may register for ECON 3991 more than once, provided the subject matter differs.]

ECON 4001 (3.00)
Modes of Classical Economic Thought
Prereq: Six credits from ECON 1001 and 1011, plus six credits from ECON 2001, 2011, 2101, 2100, or 6 credits from ECON at the 3/4000 level, or 6 credits from PHIL 3000, 3221, 3231, 3250, 3301, 3311, 3311, 4111, 4211, or 6 credits from POLS 3001, 3011, 4000, 4011; or permission of the Department.
This course focuses on the work of classical economists (especially Adam Smith, David Ricardo, and Thomas Malthus) and the economic theories of Karl Marx. (Format: Lecture 3 Hours)

ECON 4011 (3.00)
Modes of Economic Thought
Prereq: Six credits from ECON 1001 and 1011, plus six credits from ECON 2001, 2011, 2101, 2100, or 6 credits from ECON at the 3/4000 level, or 6 credits from PHIL 3000, 3221, 3231, 3250, 3301, 3311, 4111, 4211, or 6 credits from POLS 3001, 3011, 4000, 4011; or permission of the Department.
This course examines the historical origins of neo-classical, Austrian and Keynesian economic thought. (Format: Lecture 3 Hours)

ECON 4501 (3.00)
Public Finance: Taxation and Fiscal Federalism
Prereq: ECON 2001 and 2011; or permission of the Department
This course examines positive and normative approaches to taxation and fiscal federalism with special emphasis on issues in Canadian Public Finance. (Format: Lecture 3 Hours) [Note 1: Counts as a Commerce elective for students taking a Bachelor of Commerce or a Major or Minor in Commerce.]

ECON 4521 (3.00)
Normative Economics
Prereq: Twelve credits from ECON 2001, 2011, 2101 and 2111; or 3 credits from ECON at the 2/3/4000 level and 6 credits from ECON at the 3/4000 level; or permission of the Department.
This course examines the criteria for making judgments on economic performance. It introduces and evaluates notions of efficiency, fairness, and distributive justice in economic outcomes. Topics include the measurement of economic inequality and poverty, value judgments in cost-benefit analysis, consistent collective decision making, and effective means of income redistribution. (Format: Lecture 3 Hours) [Note 1: Counts as a Commerce elective for students taking a Bachelor of Commerce or a Major or Minor in Commerce.]

ECON 4531 (3.00)
Economic Growth and Development: Japan and East Asia
Prereq: ECON 1001 and 2111; or ECON 3501; or permission of the Department
Exclusion: ECON 3531
This course focuses on the economic performance of the economies of Japan, China, and other areas of eastern Asia, emphasizing historical and major current events. (Format: Lecture 3 Hours)

ECON 4551 (3.00)
International Development
Prereq: ECON 1001 and 2111; or ECON 3501; or permission of the Department
Exclusion: ECON 3551
This course focuses on differences in the patterns of economic development in the world economy. It examines the developing world, national and international policies designed to improve the global distribution of income, and the economic development policies of the World Bank, the International Monetary Fund, and the United Nations. (Format: Lecture 3 Hours)

ECON 4611 (3.00)
Industrial Organization: Theory
Prereq: 6 credits from ECON 2001 and 2011 and 3 credits from MATH 1111, 1151; 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. (Format: Lecture 3 Hours)

ECON 4621 (3.00)
Industrial Organization: Policy
Prereq: 6 credits from ECON 2001 and 2011 and 3 credits from MATH 1111, 1151; 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. (Format: Lecture 3 Hours)

ECON 4700 (6.00)
Econometrics
Prereq: 6 credits from MATH 2221, ECON 2701; or 9 credits from MATH 2221, 3311, 3321; or permission of the Department
This course provides an introduction to the measurement of economic relationships. (Format: Lecture 3 Hours) [Note 1: Counts as a Commerce elective for students taking a Bachelor of Commerce or a Major or Minor in Commerce.]

ECON 4801 (3.00)
Advanced Economic Theory I
Prereq: ECON 2001, 2011, 2101, 2111, MATH 1121; or permission of the Department
The course develops tools and techniques for analyzing problems in microeconomics. These include modern theories of the consumer and of the firm, general equilibrium, and welfare theorems. (Format: Lecture 3 Hours) [Note 1: Counts as a Commerce elective for students taking a Bachelor of Commerce or a Major or Minor in Commerce. Note 2: Although not required, the Economics Department recommends that students complete MATH 2111 and MATH 2221 prior to undertaking ECON 4801. Note 3: Honours students who wish to pursue graduate studies in economics are strongly advised to take this course.]

ECON 4811 (3.00)
Advanced Economic Theory II
Prereq: ECON 4801; or permission of the Department
The course develops tools and techniques for analyzing dynamic macroeconomic problems. Topics include growth models, overlapping generation models, and real business cycle models. (Format: Lecture 3 Hours) [Note 1: Counts as a Commerce elective for students taking a Bachelor of Commerce or a Major or Minor in Commerce. Note 2: Although not required, the Economics Department recommends that students complete MATH 2111 and MATH 2221 prior to undertaking ECON 4811. Note 3: Honours students who wish to pursue graduate studies in economics are strongly advised to take this course]

ECON 4821 (3.00)
Uncertainty and Strategy in Economics
Prereq: ECON 2001, 2011, 2101, 2111; or permission of the Department
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. (Format: Lecture 3 Hours) [Note 1: Counts as a Commerce elective for students taking a Bachelor of Commerce or a Major or Minor in Commerce.]

ECON 4950 (6.00)
Independent Study in Economics
This course permits senior students, under the direction of faculty members, to pursue their interest in areas not covered, or not covered in depth, by other courses through a program of independent study. (Format: Independent Study) [Note 1: 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 2: A program on Independent Study cannot duplicate subject matter covered through regular course offerings. Note 3: Students may register for ECON 4950/51 more than once, provided the subject matter differs.]

ECON 4951 (3.00)
Independent Study in Economics
This course permits senior students, under the direction of faculty members, to pursue their interest in areas not covered, or not covered in depth, by other courses through a program of independent study. (Format: Independent Study) [Note 1: 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 2: A program on Independent Study cannot duplicate subject matter covered through regular course offerings. Note 3: Students may register for ECON 4950/51 more than once, provided the subject matter differs.]

ECON 4990 (6.00)
Honours Thesis
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. (Format: Independent Study/Thesis) [Note 1: Written permission of the Department required. Note 2: Counts as a Commerce elective for students taking a Bachelor of Commerce or a Major or Minor in Commerce.]

ECON 4991 (3.00)
Special Topic in Economics
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. (Format: Variable) [Note 1: Prerequisite set by Department/Program when the topic and level are announced. Note 2: 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 3: Students may register for ECON 4991 more than once, provided the subject matter differs.]