ECOMOMICS: COURSE DESCRIPTIONS All courses listed will not necessarily be offered each year. All courses are one-term courses and are offered three hours a week unless otherwise indicated. 41-110. Introduction to Economics I An introduction to microeconomics intended to provide students with the tools necessary to begin to understand and evaluate how resources are allocated in a market economy. Specific topics include how markets function, theories of the business firm, of consumer behaviour and of income distribution. The economic roles of labour unions and government are also covered. The theories are applied to contemporary Canadian economic problems. 41-111. Introduction to Economics II Building upon microeconomics (41-110), this course is an introduction to macroeconomics. The emphasis is upon measuring and explaining what determines economic aggregates such as the total national product (GDP) and the level of prices and employment. The role of money and financial institutions, the impact of international trade and the policy options available to governments for coping with inflation and unemployment are discussed in detail. (Prerequisite: 41-110.) 41-117. Introductory Economics: Theory, Practice and Policy Selected topics in micro- and macroeconomics, with emphasis on practical applications, problems, and public policy. This course is designed primarily for Engineering students. (Prerequisites: Mathematics 62-140 and 62-141, or equivalent.) (3 lecture hours, 1 tutorial hour a week.) (Students who have taken 41-117 may not obtain credit in 41-110, but may take 41-111 with permission of an advisor in Economics.) 41-212. Intermediate Statistical Methods An application of statistical methods to economic theory. (Prerequisite: one of 02-250, 65-250, 65-205, or 73-105.) (Credit will not be given for more than one of 41-212, 65-251, or any equivalent intermediate statistics course from another area.) 41-221. Intermediate Microeconomics I The theory of markets, the theory of consumer behaviour and demand; the firm, production, cost, and supply. (Prerequisite: 41-110.) 41-222. Intermediate Microeconomics II Extensions of the theory of consumer and firm behaviour; pricing under different market structures; distribution; general equilibrium and economic welfare. (Prerequisite: 41-221.) 41-230. Economics Analysis of Law The application of microeconomic principles to the study of property, contract, and tort law. The economic principles underlying property rights, torts, and contracts are surveyed. Selected problems in property, tort, and contract law are considered. Additional topics from other areas of law may be included. (Prerequisite: 41-110.) 41-231. Intermediate Macroeconomics I A theoretical and policy oriented treatment of the determination of employment, output, interest rates, and the price level; stabilization policies and their effectiveness. (Prerequisites: 41-110 and 41-111.) 41-232. Intermediate Macroeconomics II Effectiveness of stabilization policies in open economies; causes and cures of inflation; simple growth models. (Prerequisite: 41-231.) 41-240. The Economics of Legal Procedures, Crime, and Punishment The application of microeconomic principles in the analysis of legal procedures, crime, and punishment. Economic models of filing suit, bargaining, and going to trial will be discussed. Traditional and economic models of criminal activity will be compared and contrasted, along with the economics of civil and criminal punishment. Additional topics from other areas of law may be included. (Prerequisite: 41-110.) 41-263. Economic History of Canada (Prerequisites: 41-110 and 41-111.) 41-266. Selected Topics in Economic History (Prerequisites: 41-110 and 41-111.) 41-280. Economics of Communications The economic structure and operation of the communications industry with emphasis on telecommunications, television and film. (Prerequisite: 41-110.) 41-283. Canadian Public Finance Government finance in Canada at the federal, provincial and municipal levels of government; includes government expenditure, taxation, budgeting, public sector development. (Prerequisite: 41-110.) (Credit may not be obtained for both 41-283 and 41-385.) 41-303. Mathematical Economics: Linear Models Input-output analysis and other linear economic models. (Prerequisites: 41-221, 41-231, and 62-120, or consent of the instructor.) 41-313. Introduction to Econometric Methods I Development of the classical regression model and problems associated with this model such as multicollinearity, heteroscedasticity, and autocorrelation. (Some familiarity with linear algebra and calculus will be beneficial.) (Prerequisites: 02-250 or 65-205, and 41-212.) 41-314. Introduction to Econometric Methods II A continuation of 41-313. (Prerequisite: 41-313.) 41-321. Corporation Finance and Investments I (a) The promotion and financing of business enterprises, financial controls and dividend policies; (b) the principles of investments, individual and institutional; social importance. (Prerequisite: 41-221 or consent of instructor.) (Not open to students in the Odette School of Business Administration, nor to those who have taken equivalent Business courses.) 41-322. Corporation Finance and Investments II A continuation of 41-321. (Prerequisite: 41-321.) 41-323. Advanced Microeconomics I The use of mathematical techniques and economic analysis with special emphasis on consumer theory, producer theory, and theory of markets. (Prerequisites: 41-221, 41-222, 62-140, and 62-141 or consent of instructor.) 41-333. Advanced Macroeconomics I Modern interpretations of macroeconomics, including inflation, unemployment, and policy implications. (Prerequisites: 41-231, 41-232, 62-140, and 62-141, or consent of instructor.) 41-335. Money and Banking The banking system and other financial institutions; money demand and money supply; money and the level of economic activity; money and inflation; issues in monetary policy. (Prerequisite: 41-231.) 41-341. Economic Growth and Development Theory Modern theories of growth and development with emphasis upon less developed countries. (Prerequisites: 41-221 and 41-231, or consent of instructor.) 41-342. Economic Growth and Development Policy Policy oriented application of economic theory to problems of developing countries. (Prerequisite: 41-341.) 41-350. Labour Theory Wage theories, wage structure, unemployment, labour supply and related topics. (Prerequisite: 41-221.) 41-353. Labour Institutions Canadian and American labour movements, collective bargaining, union philosophy and labour legislation in Canada and the United States. (Prerequisite: 41-221 or consent of instructor.) 41-373. International Economics: Trade Theory and Policy A survey of traditional and contemporary theories of international trade and trade policy. (Prerequisite: 41-221.) 41-374. International Economics: Exchange Rates and Balance of Payments Theory of exchange rate determination and balance of payments adjustment; macroeconomic policy in an open economy; current problems of the international monetary system. (Prerequisite: 41-231.) 41-385. Public Sector Economics: Expenditure Theory of the role of government in the economy; public expenditure theories and practice; public choice and government decision-making; government grants. (Prerequisites: 41-221 and 41-222.) 41-386. Public Sector Economics: Finance Government taxation, user charges, borrowing, and the public debt in theory and practice; use of taxation as fiscal policy; and intergovernmental tax relations. (Prerequisites: 41-221 and 41-222.) 41-387. The Economics of Government Regulation Economic theory and practice of government regulation, with emphasis on the regulation of public utility industries. Includes examination of goals and procedures of regulation; regulation of pricing, entry, rate of return, etc. (Prerequisites: 41-221 and 41-222.) 41-390. Comparative Economic Systems The organization, operation and performance of economic systems in theory and practice. (Prerequisites: 41-221 and 41-231, or consent of instructor.) 41-406. Mathematical Economics Various topics, such as general equilibrium theory, dynamic analysis, oligopoly, behaviour under uncertainty, and growth theory. (Prerequisites: 41-222, 41-232, 62-140, and 62-141.) 41-416. Economic Research in Regional Problems Theoretical development and empirical implementation of interregional income determination systems; regional input-output models; growth models. (Prerequisite: consent of instructor.) 41-417. Economic Research in Urban Problems Spatial structure of urban areas; urban residential equilibrium and growth; central place theory; the local public sector. (Prerequisite: consent of instructor.) 41-420. Industrial Organization Theory A theoretical analysis of firms' behaviour in many different markets. (Prerequisites: 41-221 and 41-222.) 41-424. Advanced Microeconomics II Selected topics in microeconomic theory. (Prerequisite: 41-323.) 41-434. Advanced Macroeconomics II Selected topics in macroeconomic theory. (Prerequisite: 41-333.) 41-440. Selected Topics in International and Development Economics (Prerequisite: consent of instructor.) 41-499. Selected Topics in Economics (May be repeated for credit with consent of an advisor in Economics.) (Prerequisite: consent of the instructor.)