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For more information, see the Department of Economics: .
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Economics
605
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Computational Optimization and Economic Applications
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Explores the theory and numerical implementation of mathematical programming, covering basic classes of optimization problems — linear programming, non-linear programming and complementarity problems — as ways to operationalize models of individual choice and decentralized equilibrium behaviour from economics. Applications will vary.
Course Hours:
3 units; (3-0)
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Economics
609
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Political Economy
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Provides a selective overview of modern political economy. Gives an introduction to the basic theoretical models, empirical methodologies, and substantive findings in political economy. Covers theoretical and empirical research and the links between the two. Also treats a number of selected topics on the research frontier.
Course Hours:
3 units; (3-0)
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Economics
611
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Special Topics in Economics
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Topics will vary from year to year. Consult the timetable or the Department for the topics available in a given year.
Course Hours:
3 units; (3-0)
MAY BE REPEATED FOR CREDIT
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Economics
615
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Econometrics
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Provides a foundation of econometric theory relevant for empirical work in economics. Covers classical estimation and inference procedures, including linear regression, linear instrumental variables, differences-in-differences, and linear panel data techniques. Also covers the problem of causality and identification in empirical economics.
Course Hours:
3 units; (3-0)
Prerequisite(s):
Admission to the Master of Arts Economics program or permission of the Department.
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Economics
619
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Empirical International Trade
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Examines issues from the economic literature on international trade. Focuses on quantitative and empirical analysis. Specific topics include 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:
3 units; (3-0)
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Economics
621
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International Trade
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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:
3 units; (3-0)
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Economics
627
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Energy Economics
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Applies the tools of microeconomics, institutional economics, and econometrics to energy markets and policies. Focuses on empirical studies of the energy business including markets for natural gas, crude oil, gasoline, electricity and coal.
Course Hours:
3 units; (3-0)
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Economics
633
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Labour Economics
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Emphasizes empirical implementation of theoretical models through the use of data and econometrics. Topics include labor supply theory, search theory, wage determination theories, and numerical methods for the estimation of dynamic models.
Course Hours:
3 units; (3-0)
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Economics
635
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Regulatory Economics
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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:
3 units; (3-0)
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Economics
641
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Financial Economics
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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:
3 units; (3-0)
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Economics
649
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Empirical Public Economics
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Focuses on empirical research on the economics of the public sector, including material on taxation, public expenditures and social insurance. Gives a broad overview of this growing field and prepares for research in public economics.
Course Hours:
3 units; (3-0)
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Economics
651
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Redistribution and Social Insurance
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A focus on the economics of public expenditure programs designed to redistribute income or to provide social insurance against risks faced by households.
Course Hours:
3 units; (3-0)
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Economics
653
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Public Revenue Analysis
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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:
3 units; (3-0)
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Economics
655
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Cost/Benefit Analysis
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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:
3 units; (3-0)
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Economics
657
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Microeconomic Theory
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Introduction to advanced microeconomic theory. Topics include consumer theory, theory of the firm, general equilibrium, uncertainty, game theory, and informational economics.
Course Hours:
3 units; (3-0)
Prerequisite(s):
Admission to the Master of Arts Economics program.
Notes:
Students in other departments can take this course with permission of the Department of Economics.
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Economics
659
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Macroeconomic Theory
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Introduction to the analysis of macroeconomics at an advanced level. Provides an overview of theories addressing the major questions of macroeconomic phenomena. Some coverage of applied topics, such as economic growth and government policy.
Course Hours:
3 units; (3-0)
Prerequisite(s):
Admission to the Master of Arts Economics program.
Notes:
Students in other departments can take this course with permission of the Department of Economics.
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Economics
661
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Behavioural Economics
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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:
3 units; (3-0)
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Economics
667
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Industrial Organization
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A focus on market 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:
3 units; (3-0)
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Economics
669
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Empirical Industrial Organization
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Firm behaviour in oligopolistic markets, as well as consumer and firm behaviour in environments with asymmetric information. Strong emphasis on combining economic models with econometric techniques to answer economic questions. Models of demand and supply, discrete static and dynamic games, production function estimation, single agent dynamic models and matching models.
Course Hours:
3 units; (3-0)
Antirequisite(s):
Credit for Economics 669 and 611.71 will not be allowed.
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Economics
675
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Natural Resource Economics
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Examines economic models of the structure and nature of natural resource industries and their interaction with the rest of the economy. Includes 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:
3 units; (3-0)
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Economics
677
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Environmental Economics
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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, environmental taxation, trade growth and the environment, global warming and international environmental treaties.
Course Hours:
3 units; (3-0)
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Economics
679
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Health Economics
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An overview of topics in health economics. An introduction to economic principles and techniques used in analyzing and planning health policy, in particular the delivery of health services, and for understanding the health behaviour of individuals.
Course Hours:
3 units; (3-0)
Also known as:
(Community Health Sciences 661)
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Economics
691
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Research Methods I
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Survey of research methods in economics. For course-based MA students.
Course Hours:
1.5 units; (3-0)
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Economics
693
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Research Methods II
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Survey of research methods in economics. For course-based MA students.
Course Hours:
1.5 units; (3-0)
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Economics
695
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Research Methods III
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Master's research project. Identify an interesting and feasible research question, carry out an extensive literature review of the problem area, develop an economic/econometric model to address the problem, identify and collect appropriate data for empirical research.
Course Hours:
3 units; (3-0)
Prerequisite(s):
Admission into the Master of Arts Economics (course-based) program.
Antirequisite(s):
Credit for Economics 695 and 611.55 will not be allowed.
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Economics
697
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Research Methods IV
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Master's research project. Continuing from Research Methods III, the economic/econometric model is fully developed with specific attention to identification issues and testable hypotheses. Appropriate econometric analyses, validation and testing are carried out, leading to a research paper reporting the problem, the model and the results.
Course Hours:
3 units; (3-0)
Prerequisite(s):
Admission into the Master of Arts Economics (course-based) program.
Antirequisite(s):
Credit for Economics 697 and 611.57 will not be allowed.
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Economics
705
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Advanced Econometrics I
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Devoted to rigorous treatment of asymptotic theory as it applies to econometric practice. Provides a detailed treatment of the theory and practice of classical estimation procedures, including linear regression and instrumental variables, Maximum Likelihood, the General Method of Moments, as well as an extension to simulation based methods. The theory of hypothesis testing is also covered.
Course Hours:
3 units; (3-0)
Prerequisite(s):
Admission to the PhD program in Economics.
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Economics
707
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Advanced Microeconomic Theory I
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Introduction to advanced microeconomic theory. Topics include consumer theory, theory of the firm, and general equilibrium.
Course Hours:
3 units; (3-0)
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Economics
709
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Advanced Macroeconomic Theory I
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Introduction to the basic structure of the dynamic general equilibrium framework that forms the backbone of most modern macroeconomics research. Selected topics include growth, business cycles, and monetary and labor economics.
Course Hours:
3 units; (3-0)
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Economics
711
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Independent Study
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Course Hours:
3 units; (3-0)
MAY BE REPEATED FOR CREDIT
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Economics
715
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Advanced Econometrics II
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Focuses on the problem of causality and identification of treatment effects in empirical work in Economics. Topics include but are not limited to randomized trials, causality, instrumental variables, difference in differences, regression discontinuity designs. Students are introduced to empirical applications of these different approaches.
Course Hours:
3 units; (3-0)
Prerequisite(s):
Economics 705.
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Economics
717
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Advanced Topics in Econometrics
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Studies cutting edge econometric tools used to evaluate the impacts of policies, extrapolate their effects to new environments, and predict the effects of policies that have never been tried. Methods from both the structural and treatment effect paradigms of policy evaluation will be considered.
Course Hours:
3 units; (3-0)
Prerequisite(s):
Economics 705.
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Economics
723
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Trade, Growth and the Environment I
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Covers relevant theoretical work on the environmental consequences of trade liberalization and economic growth, and the relationship between resource use and globalization, focusing on newly published research. Participants are expected to present and discuss research. The specific choice of topics will be made based on research interests of the class.
Course Hours:
3 units; (3S-0)
Antirequisite(s):
Credit for Economics 723 and 611.10 will not be allowed.
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Economics
725
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Trade, Growth and the Environment II
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Covers relevant empirical work on the environmental consequences of trade liberalization and economic growth, and the relationship between resource use and globalization, focusing on newly published research. Participants are expected to present and discuss research. The specific choice of topics will be made based on research interests of the class.
Course Hours:
3 units; (3S-0)
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Economics
757
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Advanced Microeconomic Theory II
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Building on Economics 707, 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:
3 units; (3-0)
Prerequisite(s):
Economics 707.
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Economics
759
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Advanced Macroeconomic Theory II
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Building on Economics 709, a survey of the ideas, controversies, and techniques that constitute modern macroeconomics. The principal issues it covers lie at the heart monetary and fiscal policy and of such important social problems as business cycles and unemployment. The empirical study of key issues raised in theoretical and political debates is also emphasized.
Course Hours:
3 units; (3-0)
Prerequisite(s):
Economics 709.
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Economics
791
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PhD Research Workshop I
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Survey of research methods in economics.
Course Hours:
1.5 units; (3-0)
Prerequisite(s):
Admission to the PhD program in Economics.
MAY BE REPEATED FOR CREDIT
NOT INCLUDED IN GPA
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Economics
793
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PhD Research Workshop II
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Survey of research methods in economics.
Course Hours:
1.5 units; (3-0)
Prerequisite(s):
Economics 791 and admission to the PhD program in Economics.
MAY BE REPEATED FOR CREDIT
NOT INCLUDED IN GPA
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Courses of Instruction