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Economics (ECON)

49 courses in the 1990–91 Undergraduate Calendar, read from the scanned original. The text comes from OCR, so check the scanned page before relying on a detail.

Notes

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East Asian Studies

Diréctor P. Swann, Renison College, 884-4400 EASIA 201R_ F,W 3C 0.5 East Asian Culture An introductory survey of the cultures of East Asia with particular reference to China, Japan and Korea.

Open to all students above first year

CHINA 101R F,W 3C 0.5

First Year Chinese 1

An introductory course for students who have no knowledge of Chinese to develop basic listening, speaking, reading, and writing skills. Practical oral and written exercises are used to provide a firm grammatical foundation for further study. The pronunciation used is the Mandarin (Pu-tung-hua) dialect.

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ECON 101 Introduction to MicroeconomicsF,W,S 3C 0.5

An introduction to the central economic problems of society, the functioning of a mixed enterprise system, the economic role of government, the composition of and pricing of nationai output, pricing of productive factors, and income distribution.

Prereq: “M” sections only: Grade 13 or OAC in algebra or calculus. When appropriate, calculus and algebra will be used in “M” sections

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ECON 102 Introduction to MacroeconomicsF,W,S 3C 0.5

Determination of national income; the banking system; government fiscal and monetary policy; international trade and finance; and current economic problems..

Prereq: “M" sections only: Grade 13 or OAC in algebra or calculus. When appropriate, calculus and algebra will be used in "M" sections

=CON 150 F,W,S 3C 0.5 An Introduction to Micro and Macro Economics Selected topics in both Micro and Macro economics, with emphasis on theory, practical applications and public Policy. This is a one term course for students holding an OAC credit in economics.

Prereq: OAC in Economics or consent of the instructor

Antireq: Student may not take both ECON 150 and ECON 101 and/or ECON 102 for credit

Scanned page 359ECON 102 today

ECON 201 Microeconomic TheoryF,W,S 3C 0.5

Theory of consumer choice; the

economics of production; pricing and

output under perfect and impertect

competition; pricing of inputs. Prereq: ECON 101 or 150

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ECON 202 Macroeconomic TheoryF,W,S 3C 0.5

Theory of the determination of the level of national income (GDP); the unemployment rate; interest rates; prices and inflation; analysis of macroeconomic Policies to stabilize the economy and “alleviate the problems of inflation and unemployment.

Prereq: ECON 101 and 102; or 150

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ECON 211 Introduction to Mathematical EconomicsF,W 3C 0.5

Application of mathematics to problems in economic theory. Topics include an

introduction to matrix algebra, differenti-

ation, partial derivatives, optimization techniques including constrained optimization — all developed within the context of economic theory.

Prereq: ECON 101, 102; or 150

Students who have not taken Grade 13 or OAC algebra and calculus are strongly advised to take MATH 104.

Students who have taken or are taking a course in mathematics should check with their undergraduate officer to determine if credit will be granted for both courses.

Course Descriptions Economics

Scanned page 360ECON 211 today

ECON 221 Statistics for EconomistsF,W,S 3C 0.5

An introduction to statistical procedures commonly employed by economists. Topics include descriptive statistics, probability distributions, sampling, Statistical estimation, hypothesis testing, and simple regression analysis. Prereq: ECON 101, 102; or 150 Students who have taken or are taking a course of similar content in another discipline should check with their Undergraduate Officer or the Arts Registrar's Office to determine if credit will be granted for both courses.

Scanned page 360ECON 221 today

ECON 231 Introduction to International EconomicsF,W 3C 0.5

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.

Prereq: ECON 101, 102; or 150

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ECON 301 Intermediate MicroeconomicsF,W 3C 0.5

Pricing and employment of inputs.

generat equilibrium theory; theory of

modern welfare economics with some

applications. Intertemporal Choice. Prereq: ECON 201, 202

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ECON 302 Monetary Theory and BankingF,W 3C 0.5

Monetary theory and banking in an open economy; national policies for achieving full employment, price stability, and equilibrium in the balance of payments.

Prereq: ECON 201, 202, 231

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ECON 310 History of Canadian Economic DevelopmentF 3C 0.5

A study of the economic development of Canada; development theories, ~ industrial structure and national policies analysed in a Classical-Marxian framework..

Prereq: ECON 101, 102 or 150 Formerly ECON 263

16:49

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ECON 311 Mathematical EconomicsF,W 3C 0.5

Mathematical treatment of partial and general equilibrium models. Topics usually include some of the following: duality, applications of the envelope theorem, discussion of sufficiency conditions for optimisation problems, programming, and growth models..

Prereq: ECON 201, 202, 211 (or MATH 130B/138)

Strongly recommended for students who intend to do graduate work in Economics

Scanned page 360ECON 311 today

ECON 321 Introduction to EconometricsW,S 3C 0.5

An introductory course in the theory and practice of econometrics, focusing on multiple regression and associated topics, e.g. multicollinearity, heteroscedasticity, serial correlation, errors in variables, etc. Computer assignments would be part of the course.

Prereq: ECON 221

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ECON 331 International Trade and FinanceF,W 3C 0.5

An examination of theories of international trade and finance at an intermediate level. Topics include theories of trade structure (Ricardian, Heckscher- Ohlin), the effects of tariffs and multinatianal corporation behaviour, and adjustment under flexible and fixed exchange rates.

Prereq: ECON 201, 231

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ECON 333 Interregional EconomicsW 3C 0.5

An economic analysis of regional developments: theories and policies, with special reference to Canada.

Prereq: ECON 201, 231

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ECON 335 Economic DevelopmentW 3C 0.5

The nature of the problem of economic development; theories of economic

. development; major policy issues in

economic development. Prereq: ECON 201, 202, 231

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ECON 341 Public FinanceF,W 3C 0.5

The economic rationale of governmental fiscal activity; cost-benefit analysis; the structure and economic effects of public expenditure and revenues; the analysis of income, consumption and wealth taxes.

Prereq: ECON 102 or 150, 207

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ECON 343 Urban EconomicsF 3C 0.5

Application of economic analysis to urban and metropolitan areas. Topics include location decisions of households and firms, structure and growth of cities, land and housing market, urban transportation market, urban labour market, and urban public finance - all developed within the context of economic theory. Policy issues will be stressed.

Prereq: ECON 101 or 150

(ECON 201 is recommended)

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ECON 344 Consumer TheoryF 3C. 0.5

Economic principles for consumer analysis; market responsiveness; conditions causing problems; public and private consumption; alternative economic policies.

Prereq: ECON 201

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ECON 345 Industrial OrganizationW 3C 0.5

An economic analysis of market structure, behaviour and performance with special reference to the Canadian manufacturing sector.

Prereq: ECON 201

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ECON 351 Labour EconomicsW 3C 0.5

A study of the supply of labour by indi-

viduals and the demand for labour by

firms; investment in human capital.

trade unions; internal labour markets. Prereq: ECON 201

Scanned page 361ECON 351 today

ECON 353 Population EconomicsF 3C 0.5

Population objectives; demographic

techniques; economic interrelationships

with fertility, mortality and migration.

determinants and consequences of

current world population changes. Prereq: ECON 201

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ECON 355 Economics of Energy and Natural ResourcesW 3C 0.5

An analysis of the economics of conser-*

vation, especially the adequacy of the market mechanism as an allocator of resource use over time. Issues concerning the econamic behaviour of Canada's fishery, forest, fuel and nonfuel mineral industries will be considered.

Prereq: ECON 201

Course Descriptions

Economics

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ECON 361 Cost-benefit Analysis and Project EvaluationF,W,S 3C 0.5

Methods for evaluating private and public projects; decision rules, efficienéy conditions and methods of conducting cost-benefit analysis. Application of the technique.

Prereq: ECON 201

Formerly ECON 241

Scanned page 361ECON 361 today

ECON 363 Contemporary Canadian Problems 1,2W 3C 0.5/0.5

A “topic oriented” seminar course. Problems are selected from a list that includes regulatory economics, poverty, unemployment, industrial policy, safety and other. The format assists the student in gaining analytical skill through work on the selected topics. Prereq: ECON 201, 202

Scanned page 361ECON 363 today

ECON 365 Economic Development of ModernW 3C 0.5

Europe 1780-1973 A survey of Europe's economic development from the Industrial Revolution to 1973. Case studies of England, France, Germany, Russia and the Soviet Union. Emphasis on technology, economic institutions, capital formation, standards of living and the role of the State.

Prereq: ECON 101, 102; or 150

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ECON 381 Special Topics-389 3S each 0.5

One or more special half courses will

be offered at different times as

announced by the Department. Prereq: Consent of instructor

Scanned page 361ECON 381 today

ECON 401 Advanced Microeconomic TheoryF,S 3C 0.5

This course considers a number of advanced topics at the forefront on modern microeconomics. Possible Topics: Uncertainty, equilibrium analysis, Market structures.

Prereq: ECON 211 or equivalent, 301

(311 is recommended)

Preference for admission will be given to fourth-year Honours Economics students. Consent of the instructor or undergraduate officer required for other students.

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ECON 402 Advanced Macroeconomic Theory Classical, Keynesian, Monetarist andF,S 3C 0.5

New Classical models of macroeconomics; recent contributions to the theory of consumption, investment, inflation, inflation expectations, unemployment and economic growth. Prereq: ECON 211 or equivalent, 221, 301, 302 and permission of the instructor or undergraduate officer for all students who are not registered in the 4th year of an Honours Economics

program

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ECON 403 Economic Analysis, Forecasting, and Public PolicyW 3C 0.5

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 of the impact of policies.

Prereq: ECON 301, 302, 321

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ECON 404 Advanced Monetary Theory and PolicyW 3C 0.5

A discussion of topics in monetary policy. Topics may include: foundations ot monetary theory; portfolio choice; term structure of interest rates; money supply and money demand; decisionmaking under uncertainty; capital asset pricing models; financial flow analysis; rational expectations and monetary policy.

Prereq: ECON 211, 221, 301 and 302

Recommended: Econ 402, completed or taken concurrently.

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ECON 406 Keynes and Post Keynesian Economics This course draws on Keynes, Fisher,W 35 0.5

Kalecki, Weintraub, Minsky and others to explore alternatives to current , macroeconomic theory and policies seeking solutions to problems of stagflation, debt crises, high interest rates and lagging growth.

Prereq: ECON 301, 302

This course is primarily for fourthyear General and Honours students. However, M.A. students and third-year students who meet the prerequisites may also be admitted.

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ECON 410 Economic ThoughtF 3C 0.5

A critical survey of the development of Zconomic Theory from Classical Politcal Economy to the Keynesian Revolu- On. Prereq: ECON 231, 301, 302

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ECON 411 Advanced Mathematical EconomicsF 3C 0.5

Mathematical formulation of economic theory; introduction to dynamic optimisation and optimal control theory; analrsis of stability conditions; introduction 9 linear and nonlinear programming, game theory.

Prereq: ECON 301, 302, 311

=CON 420 F 3C 0.5

Economic Development of the

United States, 1607-1975

\ survey of U.S.Economic Develop-

nent from the beginnings of organized

3ettlement to the crises of the early

1970's, with special emphasis on the

methods and techniques applied by the

New Economic Historians since 1958. Prereq: ECON 201, 202 and 321

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ECON 421 Econometrics 2F/W 3C 0.5/0.5

Aeview of linear algebra and develop- “nent of basic statistical inference; formulation, identification, estimation, and tests of single equation and simultaneous equation; regression models of micro- and macro-economics; empirical models.

Prereq: ECON 201, 202, 211, 221, 321

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ECON 431 International Economic PolicyW 3C 0.5

Analysis of selected policy problems of open economics from an institutional perspective. Topics include GATT and trade policy, customs union, new international economic order, multinational firms, exchange rate management and international monetary reform.

Prereq: ECON 301, 302

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ECON 441 Economics of the Public Sector 13C 0.5

An overview of fiscal functions and institutions; the theory of social goods; expenditure and revenue structures; fiscal incidence.

Prereq: ECON 231, 301, 302, 341

Course Descriptions Economics

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ECON 461A Comparative Economic SystemsF 3S 0.5

This course concentrates upon the criteria which are relevant for comparing different economic systems, how well various forms of economic theory make comparisons, the development of capitalist and socialist economies, together with the analysis of alternative types of price system and planning.

Prereq: ECON 201, 202

Antireq: Students may not take both ECON 461A and ECON 461B for credit

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ECON 461B The Soviet Economy0.5

This course considers the formation and development of the command economy in the Soviet Union, together with the current restructuring taking place.

Prereq: ECOn 201, 202

Antireq: Students may not take both ECON 461A and 461B for credit

ECON 463A/B Studies in Political Economy

Either ECON 463A or ECON 463B will be offered in the Winter term. Check departmental listing on course offering..

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ECON 463A Political Economy of Capitalist DevelopmentW 3S 0.5

A study of the main tools and models of modern political economy. Micro and macro tools and concepts, based on the work of Robinson, Sraffa, Kaldor, Pasinetti, Rowthorn, Nell, Sweezy and others are integrated in what can be

termed the “Classical Marxian” tradition.

Prereq: Consent of instructor or undergraduate officer

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ECON 463B The Political Economy of SocialismW 3C 0.5

An examination of programs for the creation of socialist economy based on the work of Horvat, Nove, Medvedev and others.

Prereq: Consent of instructor or undergraduate officer

16:51

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ECON 471 Computable Generali Equilibrium ModellingF 3C 0.5

Basic concepts and techniques of computable general equilibrium modelling, fixed-point theory and algorithm, data and calibration, system sensitivity, applications in various fields of economics, e.g., taxation, international trade, industrial organization, economic history, economic development, and fixed-price equilibria. Prereg: ECON 211, 301 (ECON 311, 331, or 341 are recommended)

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ECON 472 Advanced Public Policy and Applied EconomicsW 3S 0.5

An advanced discussion of selected topics in macroeconomic theory, policy and empirical research. Seminar topics include the role of stabilization policy, the usefulness of incomes policy and evaluation of Monetarism as practiced by the Bank of Canada.

Prereq: ECON 302, 321

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ECON 481 Special Studies-489 3S 0.5 each

Research and reading courses under

the direction of individual instructors. Admission by consent of instructor.

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ECON 344 Consumer Theory

Not offered in 1990–91.

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ECON 355 Economics of Energy and Natural Resources

Not offered in 1990–91.

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ECON 406 Keynes and Post Keyne- sian Economics’

Not offered in 1990–91.

Scanned page 362ECON 406 today

ECON 442 Economics of the Public

Not offered in 1990–91.

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ECON 471 Computable General Equi- librium Modelling

Not offered in 1990–91.

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ECON 400 Multidisciplinary Seminar on AgingS 0.5

Faculty and students from various “epartments meet to discuss individuat

nd population aging from a multidisci- _ linary perspective. Topics include the definition of aging, the demography of aging, evolutionary and genetic factors.

ging as a social process, and human ging patterns. Students wishing to enrol in this seminar must have completed at least six of the courses “awards the Certificate and must onsult the Director before preregiswing.

GERON 401A/B

‘irected Studies In Special Topics

or the student who desires to pursue a particular topic in depth through independent research and/or extensive ~3ading. A faculty member must

pprove a student's project prior to

agistration for this course. Open to exceptional students who have permission of the instructor and the director of

te program.

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