uwloo

ECON 393Market Failures

Units
0.50
Faculty
Arts
Subject
Economics

When it runs

  1. F24
  2. W25
  3. S25
  4. F25
  5. W26
  6. S26
  7. F26
  8. W27
  9. S27

Ran in 7 of the last 7 terms. Winter 2027: scheduled, 2 lecture sections. Spring 2027: schedule not out yet.

This course explores the many ways in which the assumptions of the perfectly competitive model are violated in the real world, and the consequences of these market failures for consumers and firms. The course examines potential government intervention to "fix" the failures as well as the limits of government intervention. Topics include monopoly/monopsony, externalities, the tragedy of the commons, public goods, asymmetric information, and incomplete information.

Prerequisites

  • Must have completed the following:
    • ECON391 - Equilibrium in Market Economies (0.50)

Antirequisites

None listed.

Leads to

Fall 2026 sections

Enrolment from UW Open Data, which can trail Quest by up to two days. Instructors and rooms: Schedule of Classes.
SectionClassEnrolledMeets
LEC 001351858 / 80TTh 10:00–11:20

Winter 2027 sections

Enrolment from UW Open Data, which can trail Quest by up to two days. Instructors and rooms: Schedule of Classes.
SectionClassEnrolledMeets
LEC 00133800 / 89TTh 11:30–12:50
LEC 701128834 / 9999Online or by arrangement

Reviewed on UW Flow

43% liked it38% easy44% useful

From 7 ratings and 2 comments on UW Flow. The most helpful comments, quoted as written, without names. Read them all on UW Flow.

  • I personally really enjoyed this course. Builds a lot on Econ 101 and 102 concepts in terms of diagrams. Very theory-heavy course with a broad range of topics. Reminded of IB Economics. We had 3 in-class exercises that were really interactive and fun to do, worth 10%. 3 tests of 15% each and a 45% final. The tests were fairly manageable as long as you practiced the questions posted by the professor and worked through the practice exams.

    Jul 2026 · liked itOn UW FlowRemove this

  • the course covered a lot of different topics. some were interesting, others really were not. lectures at the beginning of the semester felt useless but as time went on they got better. i personally didnt find the course that interesting which is why i found it more difficult but im sure that if you put more effort into it its really not hard to get a 75%+.

    Aug 2025 · didn’t like itOn UW FlowRemove this

Discussed on r/uwaterloo

28 posts and comments in 26 threads mention ECON 393, October 2017 to December 2024. Quoted word for word, newest first; each reply sits under the post and the comment that started its branch. Search r/uwaterloo for newer posts.

Winter 2024

Fall 2023

Spring 2023

Fall 2022

ECON 393 1 point, 2 comments

u/9999ggg: “Has anyone taken this course with Stephanie luis? How was the final ? Is she a tough grader ?”

u/M00bak: “https://uwflow.com/professor/stephanie\lluis Reviews weren't exactly on econ 393, but they show what she was like in her other courses”

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Winter 2022

Fall 2021

Spring 2021

ECON 393 head start 3 points, 3 comments

u/ApprehensiveAd5827: “Taking ECON 393 next semester. Studied ECON 391 in the past (got a 50, that's it) and was wondering if I had to study in advance all the course material from ECON 391”

u/Lebestreee: “… ECON 393 is basically an extension of ECON 391. If you had troubles in 391, the same troubles would persist in 393 and perhaps even exacerbated. …”

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Check it elsewhere for Fall 2026

Calendar versions

Undergraduate Calendar