Graduate Studies: Courses

When a course or workshop number is followed by "A" it is offered in the first term; when followed by "B" it is offered in the second term. Some courses are not offered every year.

9600A. Mathematics for Economists

Basic mathematics for graduate study in Economics. Aspects of linear algebra, multi-variate calculus, static optimization, and real analysis. This course is required for all MA and PhD students. NON-CREDIT.

9601A. Microeconomics I

This course, along with Economics 9602B are the required PhD microeconomics courses. Economics 9601A is a rigorous and self-contained introduction to modern economic theory and practice. The course is divided into two parts—non-strategic and strategic environments. In the non-strategic portion, the theory of partial competitive equilibrium is developed. In the strategic section, attention is directed towards both normal and extensive form games, including repeated and anonymous sequential games, and refinements of sequential equilibrium. Both sections emphasize applications and extension to general environments. Mathematics beyond Economics 500 is developed as required.

9602B. Microeconomics II (Syllabus)

General competitive equilibrium theory and extension, including uncertainty, asymmetric information, rational expectations, and incomplete markets. Existence of equilibrium, the classical welfare theorems, core and competitive equilibria, social choice. Additional topics may include principal agent problems, moral hazard, adverse selection, and mechanism design.

9603A. Macroeconomics I (Syllabus)

This course and its companion (Economics 9604B) are the required PhD macroeconomics courses. Economics 9603A analyzes the determination of income, employment, interest rates, and inflation and stresses microfoundations of aggregative models. Effects of monetary and fiscal policy are also stressed.

9604B. Macroeconomics II

A continuation of Economic 9603A. Topics may include real business cycle theory, growth, financial intermediation, money in the business cycle, the theory of unemployment, and time consistency and policy.

9605A. Econometrics and Quantitative Methods I

This course (and Economics 9606B) are the required courses for PhD students. Economics 9605A provides a thorough introduction to the probability and statistical theory which form a basis for modern econometrics and economic theory. It covers an axiomatic approach to probability theory, a review of useful statistical distributions and their properties, and a careful treatment of asymptotic theory--laws of large numbers and central limit theorems. The statistical theory is introduced from the economist's perspective with special emphasis on regression.

9606B. Econometrics and Quantitative Methods II (Syllabus)

This course is a utilitarian course in econometric theory. The objective is to show how economic problems can be formulated in an empirically verifiable fashion. Emphasis will be placed on demonstrating the econometric properties of estimation and testing strategies. Some of the topics covered are: causality and exogeneity, model specification, nonparametric econometrics, limited dependant variable models, time series, and forecasting. Substantial time will be devoted to issues of testing or model validation.

9607A. Economic Mathematics I

This course and its companion (Economics 9608B) are designed to provide PhD students with a thorough treatment of the mathematical techniques employed in the theory courses (Economics 9601-9606). Topics to be covered include real analysis, metric spaces and general topology, dynamic optimization techniques, measure theory, and stochastic processes.

9609A. Advanced Methods of Applied Economics (Syllabus)

The goal of this course is to apply the analytical tools developed in EC 9601-9608 to economic data. Both the possibilities and limitations of empirical work will be explored. A major part of the course will be an empirical project on a topic in the student's primary area of interest.

9611 A or B. Advanced Microeconomics I

Game theoretic tools will be developed and brought to bear upon a variety of issues in microeconomics. Some possibilities include applications in bargaining theory, strategic signaling, and non-cooperative implementation of various cooperative solution concepts.

9612 A or B. Advanced Topics in Microeconomics (Syllabus)

This will be devoted to examining recent research in evolutionary economics. Included will be evolutionary explanations of attitudes to risk and evolutionary game theory.

9613 A or B. Advanced Macroeconomics I (Syllabus)

The purpose of this course is to study topics which are likely to generate interesting research projects. These topics may include the theory of financial intermediation, growth and development, empirical macroeconomics, monetary theory, and computational issues.

9614B. Advanced Macroeconomics II

This course will study recent literature on the implications for the business cycle of imperfect competition, increasing returns, search and transaction costs, and learning behaviour.

9615A and 9616B (Syllabus). Advanced Econometrics I and II

These courses are designed to give students a clear understanding of some of the more recent developments in both theoretical and applied econometrics. The topics to be covered will reflect the research interests of the faculty as well as covering the essentials of some of the more widely used techniques and inference.

9626 A or B. Economic Development I

An analysis of the economic problems of the third world (with 9527B). The first part of 9526A reviews concepts of and approaches to economic development and human welfare, including theories of growth, structural change, income distribution, dual economy models, and the new growth theories. The second part of 9526A focuses on international aspects, including the roles of trade and foreign capital in development.

9627B. Economic Development II

A continuation of 9526A. The emphasis in this course is on certain specific issues in development policy, taken from areas such as agriculture; human resource issues such as population growth, employment creation, rural-urban migration, and education; monetary and fiscal issues in developing countries, and, more generally, the role of government in poor countries.

9628 A or B. Public Finance I

An introduction to public economics. Modern theory and empirical work on government expenditure and taxation are surveyed. Attention is paid to current policy implications in Canada and other countries.

9629B. Public Finance II

Topics in taxation theory, including role of intermediate goods, production hierarchies, short run and long run considerations, and issues in Canadian tax reform.

9632 A or B. Monetary Economics I

Overlapping generations models of money will be developed and used to discuss issues related to deficit finance, the relevance of open market operations, and the determination of exchange rates. These models will also be used to discuss "legal restrictions" theories of money, signal extraction models of the Phillips curve, and "sunspot equilibria".

9633B. Monetary Economics II

This course will examine monetary policy under the following topics: the empirical importance of monetary factors in inflation and business cycle fluctuations; the channels of influence of monetary policy on the economy; optimal stabilization policy; targets, instruments and indicators; positive theories of monetary policy; open economy considerations, credit market imperfections, recent Canadian experience.

9634 A or B. Industrial Organization I

An introduction to the modern theory of the firm and the use of game theoretic tools to analyze firm behaviour. Topics to be covered are: general game theory, oligopoly theory, repeated games and collusive behaviour, product variety and firm choice of product, advertising and entry models.

9635B. Industrial Organization II

This is a topics course designed to cover issues and current interest in industrial organization. Topics currently being considered are: revelation games and contract theory, bargaining and contract renegotiations, the theory of incomplete contracts, the economy of institutions.

9640 A or B. Labour Economics I

The course begins by covering the basic areas of labour economics--supply, demand and wage and employment determination. The second half focusses on a selection of sub-topics of interest to the students in the course.

9641B. Labour Economics II (Syllabus)

9645 A or B. Special Topics: Economic Growth in a Historical Perspective

This course discusses the methodological issues related to research in economic history and in particular the role of institutions in economics and history.

9662 A or B. International Trade Theory

A survey of alternative theories of the pattern of trade, the gains from trade, and the effects of market imperfections. The effects of tariffs, quotas and domestic taxes are analyzed, and customs unions and other trading arrangements are discussed.

9663A. International Finance

Modern international finance theory will be explored in this course. Some topics to be covered are: recent theories of the current account, capital account, balance of payments and the exchange rate; the determinants of international financial intermediation and asset pricing; commercial policy in financial markets; the international transmission of inflation and business cycles; and international policy co-ordination.

9664B. Seminar in International Trade

This course will explore advanced and/or new areas in the economics of international trade. Topics may include increasing returns to scale, imperfect competition, uncertainty, direct foreign investment, intermediate goods, trade in resources, and general equilibrium estimation of trade models. The course is highly recommended for students who are considering the possibility of writing a thesis in international economics. Prerequisite/Co-requisite: Economics 9602B and 9562A or permission of instructor.

9666 A or B. Economics and Law I

A course applying economic theory to laws and legal institutions with emphasis on property, contracts, and torts. No prior knowledge of law is required.

9667B. Economics and Law II

The material in this course comprises selected topics within the general area of economics and of crime and punishment and aspects of the judicial process. There is also an examination of the constitutional basis of government, the interaction of voters and special interest groups in the legislation process, and the legislative basis for the redistributive programs of the welfare state.

9674A. Political Economy I

This course will provide a survey of some major contributions to political economy including voting, the functions of democratic institutions, bureaucracy, and dictatorship.

9675B. Political Economy II

This course will explore some major contributions to political economy, including interest groups, the politics of economic growth, regimes in transition to democracy, federalism and rights.

9676 A or B. Economic History of North America

A comparative analysis of the economic growth of Canada and the U.S. Topics include the role of theory and measurement in economic history, historical patterns of growth and welfare, transportation and the growth of national markets; technological change, the development of agriculture, industrialization, the role of governments, institutional change, and the interdependence of North America's economies.

9677B. Economic History of North America

A continuation of 9567/9667A.

9682B. The Economics of China

This course focuses on the economy of the People's Republic of China, with special emphasis on the recent reform period. Students will acquire a basic familiarity with China's economic system and economic performance. The course will examine the fundamental problems facing China's economy and China's unique approach to solving these problems.

9688 A or B. The Global Trading System

This is a research-oriented course focused on trade policy in a global context and numerical modelling of policy alternatives. The course will develop institutional material on the GATT, managed trade, trade in commodities, agriculture, contingent protection (safeguards/countervail) trade in services, US/Canada bilateral negotiations. The material on numerical modelling will focus on applied general equilibrium analysis.

9689A. Numerical Simulation, Optimization and Equilibrium Analysis

This is a research-oriented course for graduate students interested in exploring applications of numerical general equilibrium techniques to policy and other issues in public finance, trade, development, stabilization theory and other areas. The course will divide into three segments: one on general equilibrium computational techniques, one on data and model specification, and one giving examples of applications.

9591/9592B. MA Applied Economic Workshop

This workshop aims to give students some experience in how economics is applied in various settings where economists are employed. An important aspect of the course is the lectures by economists currently working in the private sector or in government agencies. Other classes feature our own faculty describing their own broad approaches to applying economics in their research. A research paper (approximately 20 pages in length) is required.

9691B. PhD Research Seminar

Faculty will present short talks detailing their areas of research and highlighting suitable topics for PhD dissertations.

Special Topics Courses

The department often offers special topic courses to graduate students. The following is a list of courses that have recently been offered:

Health Economics
Economics of China
The Economics of Search
Natural Resources and Environmental Economics
Experimental Decision Theory
Time Series Economics
Evaluation of Social Programs
Public Choice: Voting, Volunteering & Institutions
National Economic Policy

Workshops

Economic Theory
Money/Macroeconomics
Econometrics
Department Colloquium (International Trade, Health, Public Finance, History,
Industrial Organization)
Political Economy

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