68 courses in the 1974–75 Undergraduate Calendar, read from the scanned original. The text comes from OCR, so check the scanned page before relying on a detail.
Notes
Department of Economics
Faculty listed in 1974–75
R. A. Mundell, B.A.(U.B.C.), Ph.D(M.L.T.)
R. Blackhurst, B.S.(California), Ph.D.(Chicago)
Faculty listed in 1974–75
S. N. Afriat, M.A.(Cambridge), D.Phil.(Oxford) J.H. Hotson, B.A.(Colorado College), M.A., Ph.D.(Pennsylvania) V. C. Walsh, B.A., M.A., Ph.D.(Trinity College)
L. P. Fletcher, B.;Comm.(Mount Allison), A.M., Ph.D(Brown) S. K. Ghosh, B.S., M.S.(Calcutta), M.A. Ph.D. (Wisconsin) - R.R. Kerton, B.Comm.(Toronto), M.A.(Carleton), Ph.D.(Duke), N. E. Lavigne, C.R., B.A., (Western), M.Comm.(Ottawa), M.B.A. (Detroit)
G. Lermer, B.Sc.(M.L.T.), M.A., Ph.D. (McGill)
W. R. Needham, B.Comm.(Carleton), M.A., Ph.D. (Queen’s)
A. Olsen, B.Comm. (Sir George Williams), M.B.A(Western Ontario)
R. Chand, M.A (Toronto)
H.N. Gram, B.A.(U.B.C.)
Faculty listed in 1974–75
T. Williams, B.A.(Northwestern), M.A (Chicago) DJ. Cianci, B.Ap.Sc.(U.B.C.)
R. Kilimnik, B.4.(Waterloo), M.B.A(McMaster)
Associated Faculty
G. Berman, Ph.D.(Toronto), Chairman Department of Combinatorics and Optimization
D.A. Sprott, Ph.D.(Toronto), Chairman, Department of Statistics
Faculty listed in 1974–75
D.W. Conrath, B.A.,.M.S.(Stanford), M.A.,Ph.D.(U.C. at Berkeley) Department of Management Sciences
Undergraduate Courses
Economics 101, 102 comprise the regular sequence of courses in introductory economics for students majoring in this field, and for other students who plan to do additional work in economics. Students proceeding to a General Arts degree with a major in Economics are required to take as part of their programme ~ Economics 201*, 202*, 231*plus either 211* or 221*. It should be noted that some of the 400 level courses are open to third year students who have the necessary prerequisites (this also holds for second year students vis-a-vis 300 level courses).
The number of courses offered in a particular year will not necessarily include all of those listed below.
Department of Economics
Some Economics courses do not have a “term offered” indicated. This information will be available at pre-registration and students can confirm the “term offered” with their Departmental advisor.
The “normal” number of lectures per week in each course is three; however, each instructor determines how often his particular class will meet.
An introduction to the central problems of economic society, the functioning of a mixed capitalistic enterprise system, the economic role of government, the composition and pricing of national output, pricing of productive factors, and income distribution. The student can pursue his studies through either of the. following approaches: 101A) The economics of public and private decision processes with emphasis on general principles of economic analysis. (Also offered at St. Jerome’s) 101M) Similar to 101A except for a somewhat greater emphasis on presenting the material in a mathematical framework. Fall and Winter Terms
Determination of national income; the banking system; government fiscal and monetary policy; international trade and finance; and current economic problems. 102A*: Continuation of 101A* 102M*: Continuation of 101M* Fall and Winter terms
Students are encouraged to select a section on the basis of the approach they are likely to enjoy the most, rather than on the basis of assumed prior preparation (for example, some students from the Math Faculty may prefer to take the A section). Both the A and the M sections serve as prerequisites for further courses in Economics.
Recording transactions; measuring income; preparation and analysis of financial statements; accounting for assets, liabilities, and owner equity. 2 lectures, 2 hours laboratory Fall and Winter terms
Analysis of accounting principles; preparation of statements of sources and uses of working capital; cash flow analysis; basic concepts associated with manufacturing and responsibility accounting and budgeting. Prerequisite: Economics 191* 2 lectures, 2 hours laboratory Fall and Winter terms
Department of Economics: Course Offerings 1st. Year 2nd Year
9LE Subject Areas 3rd Year 4th Year
201 Microeconomic
101 Intro. MicroEconomics Theory
401 Advanced Economic Economic 301 Intermediate Microeconomics Theory Theory
202 Macroeconomic
102 Intro. Macro' Economies Theory _
402 Economic Cycles and 302 Monetary Theory Stabilisation Policy and Banking 403 Econ. Analysis.
ECON 351Labour Economics 451 Advanced Topics in Economics of Energy, Land 353 Population Economics Resource Economics and Labour Resources 355 Energy and Natural Resources 357 Environmental Economics JUsUIZIEdIGg JO
261 World Economic History
Economic History and 361 North American 461 Comparative Economic History Economic Systems Contemporary Problems
263 Canadian Economic History
363 Contemporary Canadian Prob.s.1 364 Contemporary SNWOUOS Canadian Prob.s 2
The course is designed to present an opportunity to examine and discuss a broad range of situations where analysis and decision 2 making are required. Emphasis is placed on developing an understanding of the factors and attitudes involved in administration. The course divides into five parts: financial function, personnel administration, production/services function, information and marketing function, and general administration in business, non-profit organizations, and the government sector. Fall and Winter terms
Theory of consumer demand; production theory; market structure; resource pricing and allocation under perfect and imperfect competition. Prerequisite: Economics 101* Fall and Winter terms
Application of elementary mathematics to problems in economic
Economists
theory. Topics include the graphing of functions, elementary analytical geometry, derivation, exponential and logarithmic functions, and differentiation — all developed within the context of economic theory. No previous training in algebra or calculus _is presumed. Prerequisites: Economics 101*, 102* Fall and Winter terms
An introduction to the underlying logic of statistical procedures most commonly employed by economists. No mathematical training beyond high school algebra is presumed. Emphasis is given to solving problems as a way of learning statistical theory. Prerequisites: Economics 101*, 102* Pape Fall and Winter terms
Theory of comparative advantage and the gains from trade; tariff theory; concepts and measurment of balance of payments; exchange rate systems; reform of international monetary system. Prerequisites: Economics 101*, 102* : Fall and Winter terms
Application of economic theory to the analysis of regional economic problems, including, for example, the problem of chronic- ~ ally depressed areas, and of regions whose economic activity is + concentrated in one or two major industries. Prerequisite: Economics 201* Winter term
ECON 241Cost-benefit Analysis and Project Evaluation
Methods for evaluating private and public projects; decision rules, efficiency conditions and methods of conducting cost-benefit analysis. Application of the technique. Prerequisite: Economics 201* Winter term
Selected topics in the economic development of various areas of the world. Emphasis is given to the naure and origin of the forces which gave rise to particular methods of economic organization and institutions. Prerequisites: Economics 101*, 102* Fall term
The course concentrates first on Mercantilist theory and practice vis-a-vis Canadian development, then turns to Innis’ “Staples Theory”. Finally, modern economic theory is used to analyse a number of controversies in Canadian economic history, in particular the rejection of the staples model by Chambers and Gordon and the dispute regarding the economic impact of the Reciprocity Treaty of 1854. The relation between these historical controversies and current concern about Canadians “selling-off their heritage” will conclude the course. Prerequisites: Economics 101.
An in-depth analysis of accounting procedures. A study is made of the reporting process, matching of costs and revenues, money value items, capital determination and presentation, and accounting for internal management. Prerequisites: Economics 191*, 192* Fall and Winter term .
Internal and external auditing, its effects and uses. A study is made of budgeting, centralized and decentralized control, internal audit, performance measurement, the role of an external auditor, the techniques used by an external auditor, services available from a Public Accounting firm and the evaluation of the services provided. Prerequisites: Economics 191*, 192*
Monetary theory and banking in an open economy; national policies for achieving full employment, price stability, and equilibrium in the balance of payments. Prerequisites: Economics 202*, 231* Winter term
A critical survey of the development of economic thought from Adam Smith through J.M. Keynes. Prerequisites: Economics 201*, 202*, 231*
Mathematical treatment of some micro — and macro — partial and general equilibrium models; programming and game theoretic techniques; stability analysis; simple growth models. / Prerequisites: Economics 201*, 202*; 211* (or Math 130)
Introductory level course in econometrics; includes economic model building and testing, regression and correlation analysis, and price indices. Prerequisite: Economics 221
An examination of the modern theory of international trade. Topics include comparative advantage and the gains from trade, tariff theory, economic integration, and the interaction between international] trade and economic growth. Prerequisites: Economics 201*, 231* Fall term
The monetary aspect of international economic relations. Topics include analyses of the foreign exchange and international capital markets, the theory of balance of payments policy, monetary integration, and reform of the international monetary system. Prerequisites: Economics 202*, 231* Winter term
Application of economic theory to the analysis of interregional economic problems. Emphasis is on the use of elementary models of international trade to analyse interregional economic relations. Prerequisites: Economics 201*, 231*, (Economics 233* is recommended).
The nature of the problem of economic development; theories of economic development; major policy issues in economic development. Prerequisites: Economics 201*, 202*, 231*
The economic rationale of governmental activity; alternative measures of fiscal operations; the structure and economic effects of government revenues and expenditures; the role of fiscal policy in economic stabilization and growth. Prerequisite: Economics 201*
Application of economic analysis to location decisions of firms and households; discussion of policy problems, for example, urban renewal and housing. Prerequisite: Economics 101* (Economics 201* is recommended)
An analysis of the characteristics of industrial structure, behaviour and performance with special reference to Canada. Competition and “rationalization” policy in Canada and other selected countries..
ECON 347Economics of Transportation and Communication
Application of economic analysis to problems in the area of transportation and communication; critical review of policies and programmes designed to deal with problems in this area. Prerequisite: Economics 201*
Wage theory; training and mobility theory; economics of information in Canadian labour markets; other investments in human capital; manpower policies. Prerequisite: Economics 201*
Demographic techniques; economic interrelationships with fertility, mortality, morbidity; theory of an optimum population. Prerequisite: Economics 201*
An analysis of the economics of conservation, especially the adequacy of the market mechanism as an allocator of resource use over time. The political economy of the world’s supply of and demand for energy resources and major issues in Canadian “energy policy will be considered. Prerequisite: Economics 201* (Economics 241* is recommended)
ECON 357Environmental Economics ’ 361* North American Economic History
Application of economic theory to problems of the environment, in particular, air, water, and land pollution. Emphasis is on the theory of the management of common Property resources. Prerequisite: Economics 201*
An advanced level treatment of the economic development of North America with particular emphasis given to various facets of the economic inter-relationship between Canada and the United States. Prerequisite: Economics 201*
A “topic oriented” seminar course. The class agrees to study a Canadian problem selected from a list that includes poverty, unemployment, industrial policy, and so forth. The format assists the student in gaining analytical skill through work on the selected topic. Prerequisite: Economics 201*, 202* Fall and Winter terms
Conventional methods of accounting, summarizing, and interpreting costs; job order and process costing. Budgetary control with standard costs; profit analysis for decision-making purposes. Prerequisite: Economics 192* Fall and Winter term
The general problem of financing business activities; the financial organization and control of corporations, liquidations and reorganization; the operation of capital markets. Prerequisite: Economics 101*, 102* 191*, 192* Fall and Winter terms
Pure theory of exchange, production and consumption theory, the core of an economy, capital theory, general equilibrium analysis of multiple markets, and related theoretical issues. Prerequisite: Economics 301*, 302*, fourth-year standing Fall term
Theory-of economic policy, business cycles, inflation and unemployment problems, and balance of payments analysis. Prerequisites: Economics 301*, 302*, Fourth-year standing Winter term
ECON 403Economic Analysis, Forecasting, and Public Policy
The course focuses on the problems of forecasting economic activity (as measured by the principal macroeconomic variables), and of designing and implementing policies to control those variables; topics covered include a critical review of current forecasting models, problems associated with lags in the impact of policies, and so forth. Prerequisites: Economics 301*, 302*
Mathematical formulation of economic theory; solutions to systems of simultaneous difference and differential equations; introduction to dynamic models; analysis of stability conditions; introduction to linear and nonlinear programming, input-output analysis, game theory. Prerequisites: Economics 301*, 302* 311* Fall term
Classical, neoclassical, and Cambridge theories of growth; study of production, technical progress, and consumption; aggregate and two-sector models of growth; growth theory in an open economy. Prerequisites: Economics 301*, 302*, 311* Winter term
Review of linear algebra, and development of basic statistical inference; formulation, identification, estimation, and tests of single equation and simultaneous equation regression models of micro- and macroeconomics; empirical models. Prerequisites: Economics 201*, 202*, 211*, 221*, 321* Fall and Winter terms
Analysis of selected topics such as the theory of trade blocs and systems of customs unions, economic integration, devaluation theory, theory of dominant currencies, international transmission of inflation, gold/bimetalic/dollar standard theories and optimum currency areas. Prerequisites: Economics 301*, 302", 331*, 332* Fall term
Analysis of selected policy problems, such as monetary and fiscal policy mix in open economies, optimum tariff policy, trade and environmental policies, trade in public goods and bads, international monetary reform, control of international capital flows, the multi-national firm, and so forth. Prerequisites: Economics 301*, 302*, 331*, 332* Winter term
An overview of fiscal functions and institutions; the theory of social goods; expenditure and revenue structures; fiscal incidence. Prerequisites: Economics 231*, 301*, 302*, 341* Fall term
Fiscal stabilization, fiscal federalism, public pricing, international public finance, social security and other contemporary policy issues. Prerequisite: Economics 441* Winter term
An analysis of the government’s role in the planning and management of the-economy under capitalism, socialism, fascism, communism, worker management, and other forms of economic organization. Prerequisites: Economics 201*, 202*
The accounting treatment of business combinations, consolidations, pooling of interests, reorganizations, valuation of business enterprises, foreign branches, specialized types of operations such as mutual funds, banks, trust companies, insurance companies, municipalities, non-profit institutions. Prerequisites: Economics 391*, 392*
Contemporary issues in accounting, current controversies, professional pronouncements, accounting for inflation, human resource accounting and social accounting. Prerequisite: Economics 491*
The prime purpose of the course is to gain a broad understanding of the Canadian tax system in its economic, legal, and accounting settings. Fundamental legal and economic concepts will be studied as well as specific provisions and problems that commonly arise. The second purpose of the course is to relate the provisions of the taxing statutes to frequent business problems with emphasis on tax planning. Prerequisite: Economics 292*