62 courses in the 1975–76 Undergraduate Calendar, read from the scanned original. The text comes from OCR, so check the scanned page before relying on a detail.
Associate Professar, Chairman of the Department R.R. Kerton, B.Comm.(Toronto), M.A (Carleton), Ph.D. Duke)
Assistant Professor, Associate Chairman A. Olsen, B.Comm.(Sir George Williams), M.B.A. (Western Ontario)
Associate Professor, Graduate Officer W.R. Needham, B.Comm.(Carleton), M.A., Ph.D. (Queen's)
Assistant Professor, Undergraduate Officer K.M.H. Bennett, B.A., M.A.(Queen’s), Ph.D.(McGill)
Professors J.H. Hotson, B.A.(Colorado College), M.A., Ph.D. (Penn) *
A. Koutsoyiannis, B.A.(Athens), Ph.D.(Manchester) visiting 1974
B. Thomas, Ph.D.(London), C.B.E., F.B.A. visiting 1975-76
V.C. Walsh, B.A., M.A., Ph.D(Trinity College, Dublin)
Associate Professors
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)
N.E. Lavigne, C.R., B.A.(Western), M.Comm. (Ottawa), M.B.A (Detroit) J
G. Lermer, B.Sc.(M.I.T.), M.A.,. Ph.D (McGill)
Assistant Professors
A. Andrikopoulos, B.A.(Athens), M.A.(Wayne State), Ph.D.(Southern California)
S.W. Kardasz, B.A (Loyola)
M. Loken, B.A.(Concordia), M.A.(Calgary), Ph.D. (Duke)
E, Milne, B.A. (Windsor), M.A., Ph.D.(Northwestern).
G, Russell, B.Comm., M.B.A.(McMaster), R.LA.
J. Schwartz, B.C.E., M.S., Ph.D. (M.LT.)
Lecturers
S. Shinohara, B.A.(Tokyo), M.A.(Chicago) (part-time)
K. Stollery, B.A.(Southern California), M.A(Queen’s)
R.M. Blair, B.Eng., M.B.A.(Queen’s), C.A. (part-time)
J.D. Cianci, B.Ap.Sci.(U.B.C.) (part-time)
R. Kilimnik, B.A.(Waterloo), M.B.A.(McMaster) (part-time) .
J. Mackey, B.A.(Guelph), M.B.A(McMaster) (part-time)
Course Descriptions 281 Economics
Associated Faculty
Professors
G. Berman, Ph.D.(Toronto), Chairman Department of Combinatorics and Optimization
D.ASprott, Ph.D.(Toronto), Chairman, Department of Statistics
Associate Professor
D.W. Conrath, B.A., M.S.(Stanford), M.A., Ph.D. (U.C. at Berkeley) Department of Management Sciences
Undergraduate Course Descriptions
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* and at least four half courses in Economics at the 300 level or above. 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 with respect to 300 level courses).
The number of courses offered in a particular year will not necessarily include ali of those listed below.
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 economic problems of 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.
Determination of national income; the banking system; government fiscal and monetary policy; international trade and finance; and current economic problems.
Fall and Winter terms
Early in the Fall term the Department of Economics administers a tést in Economics 101*]102* for students who have completed Economics in Year 5. Any student who scores at least 70 per cent in the test will be exempted from Econ. 101*{102* and may register for Econ. 201*/202*.
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
Early in the Fall term the Department of Economics administers a test in Economics 191* | 192* for students who have completed Accounting in Year 5. Any student who scores at least 70 per cent in the test will be exempted from Econ. 191*{192* and may register for Econ. 291*/292*
The course is designed to present an opportunity to examine and discuss a broad range of situations where analysis and decision making are required. 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
Theory of the determination of the level of national income, employment and the price level. Prerequisite: Economics 102*.
Fall and Winter terms
Course Descriptions Economics
Application of elementary mathematics to problems in economic 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. .
Prerequisites: Economics 101*, 102*
Fail 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*
Fail and Winter terms
Theory of comparative advantage and the gains from trade; tariff theory; concepts and measurement 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 chronically depressed areas, and of regions whose economic activity is concentrated in one or two major industries.
Prerequisite: Economics 201*
Winter term
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 nature and origin of the forces which gave rise to particular methods of economic organization and institutions. Prerequisites: Economics 10]1*, 102*
Fall term
Economics me, i Department of Economics: Course Offerings 1st Year 2nd Year 3rd Year 4th Year Subject Areas 101 Intro. Micro- 201 Microeconomic 301 Intermediate 401 Advanced Economic. Economics Theory Microeconomics Economic Theory Theory 102 Intro. Macro- 202 Macroeconomic 302 Monetary Theory 402 Economic Cycles Economics Theory and Banking and Stabilisation
Thought 403 Econ. Analysis, Forecasting, and Public Policy 211 Mathematics for 311 Intro. Math. 411 Mathematical Quantitative Economists Economics Economics Economics 221 Statistics for 321 Intro. 431 Economic Economists Econometrics Growth Theory 421 Econometrics 1 422 Econometrics 2 231 Intro. 331 International 431 Advanced International and International Trade Theory International Interregional Economics 332 International Economics Economics
335 Economic Development
347 Economics of Transportation and Communication 241 Cost Benefit 351 Labour Economics 451 Advanced Topics Economics of and Project 353 Population in Resource Energy, Land and Evaluation Economics Economics Labour Resources 355 Energy & Natural Resources 357 Environmental Economics 261 World Economic 361 North American 461 Comparative Economic History History Economic History Economic and Contemporary
191 Intro. Financial 291 Intermed. Fin. 391 Cost and 491 Advanced Accounting and Accounting 1 Accounting 1 Management Accounting 1 Administration 192 Intro. Financial 292 Intermed. Fin. Accounting 1 492 Advanced Economics Accounting 2 Accounting 2 392 Cost and Accounting 2 193 EconomicS*and the 293 Auditing Management 493 Taxation
194
Administrator 1 Economics and the Administrator 2
393
Accounting 2 Corporate Finance 1
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*, 102*
Winter term
291* {292 Intermediate Financial Accounting 1, 2 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*
Distribution theory; production, consumption and general equilibrium analysis; welfare economics. Prerequisite: Economics 201*, 231*
Fall term
’ 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
. Acritical survey of the development of economic thought from Adam Smith through J.M. Keynes. Prerequisites: Economics 201*, 202*, 231*
Course Descriptions Economics
Mathematical treatment of some micro - and macro — partial and general equilibrium models; programming and game thcoretic 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. Prerequisite: Economics 201*
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: Econamics 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)
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 interrelationship between Canada and the United States. Prerequisite: Economics 201*
Course Descriptions 285 Economics
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
One or more special half courses will be offered at different times as announced by the Department. Prerequisite: Consent of Instructor
Conventional methods of accounting, summarizing, and interpreting costs; job order and process costing. Budgetary contro! 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
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.
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 terms
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
Course Descriptions Economics
Economics
Fiscal stabilization, fiscal federalism, public pricing, international public finance, social security and other contemporary policy issues.
Prerequisite: Economics 441*
Winter term
Advanced analysis of selected topics in the area of energy, land, and labour resources.
Prerequisites: Economics 20]*, 202*, 231* 355*
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*
Research and reading courses under the direction of individual instructors.
Admission by consent of instructor
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 Jegal 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*