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ECO Economics CoursesECO100Y1 An introduction to economic analysis and its applications: price determination; the
role of competition; international trade and finance; the theory of production and
employment; the role of money and the banking system; monetary and fiscal policy. NOTE
graphical and quantitative analysis are used extensively. ECO105Y1 An introduction to the principles and methods of economics. Topics include price
determination; industrial organization; employment, income, and inflation; international
trade and finance. Emphasis on application of economic analysis to current problems.
Students who intend to complete a minor, major, or specialist program in Economics are
advised to take ECO100Y. ECO200Y1 Theory of markets and prices. Determination of prices through the interaction of the
basic economic units, the household as consumer and as supplier of inputs and the business
firm as producer and as employer of inputs. The pricing system as the mechanism by which
social decisions are made in a market economy. ECO201Y1 The development of the west European economy from the crises of the early 14th century
to the eve of the modern Industrial Revolution, focusing on Italy, Spain, Portugal,
France, Germany, the Low Countries and England. Major topics: barriers to economic growth;
feudalism and serfdom; demographic and monetary forces; structural changes in and
interactions among the agrarian, commercial, financial, and industrial sectors; overseas
expansion and colonization; the role of Church, state, warfare, and social/political
institutions; Mercantilism. ECO202Y1 Theory of output, employment and the price level; techniques for achieving economic
stability; central banking and Canadian financial institutions and markets; foreign
exchange markets and the exchange rate. ECO206Y1 This course deals more rigorously and more mathematically with the topics included in ECO200Y and is intended primarily for students in certain
Specialist programs. ECO208Y1 This course deals more rigorously and more mathematically with the topics included in ECO 202Y and is intended primarily for students in certain
Specialist programs. ECO210H1 An introduction to mathematical methods commonly used in economic theory. Topics
include unconstrained multivariate optimization, multivariate optimization subject to
equality or inequality constraints, difference and differential equations. ECO220Y1 Statistical analysis; elementary probability theory, sampling distributions, tests of
hypotheses, estimation and multiple regression analysis. Applications in economic and
business problems. Elementary calculus and matrix algebra are used. ECO227Y1 This course deals more rigorously with the topics included in ECO 220Y and is intended primarily for students in certain
Specialist programs and other students planning to take ECO
327Y/357Y. ECO230Y1 The key concepts of international trade are reviewed with an eye to understanding
contemporary trade issues and recommending policy initiatives. Attention is given to
empirical assessment of alternative trade theories and to broader international relations
issues. ECO232H1 Indian Economy since 1951 ECO236H1 Analysis of selected current policy issues using the tools of public economics: topics
may include economics of selected expenditure areas (health, education, welfare),
federal-provincial and provincial-local fiscal relations (transfers, allocation of taxes),
or aspects of tax policy at all levels of government (income, sales, property taxes). ECO239Y1 Application of economic analysis to current issues in labour policy: immigration,
retirement, education, unemployment, earnings differentials, employment and pay equity,
labour unions, minimum wage, income policies. ECO250Y1/251H1/252H1 A seminar may be offered in a different subject each year. Students require permission
of the instructor in addition to the minimum prerequisite published for each seminar. (See
the Undergraduate Secretary for details) ECO299Y1 Credit course for supervised participation in faculty research project. See page 42 for details. ECO302Y1 Market and non-market types of economic institutions. Diverse ways of organizing
factors of production: land, labour, and capital in primitive, ancient and modern
societies. Special attention to the work of Karl Polanyi in this area. ECO303Y1 The Economic History of Modern Europe, 1750-1914 (formerly ECO203Y) 52L ECO306Y1 U.S. economic history from European settlement to the late 20th century.
Interrelationships of the U.S. in world development. International migration, economic
policies, institutions; capital flows and technological transfer. ECO310Y1 The organization of economic activity in markets and non-market institutions. The
operation of imperfectly competitive markets. Measures of industrial concentration and
other dimensions of market structure; models of firm behaviour in different market
settings; case studies of particular industries. Government policies affecting the private
sector. Emphasis on competition and competition policy, the regulated industries, the
patent system, externalities and market failure. ECO312H1 The nature and purpose of economic regulation. The efficiency and equity aspects of the
regulation of public utilities. Optimal pricing, rate-of-return regulation, entry and exit
limitations, social regulation. Regulatory reform. Institutions of regulation in Canada. ECO313H1 This course demonstrates the way that a rigorous application of micro-economic
techniques can inform our responses to various environmental problems. Topics may include:
managing fisheries or biodiversity, and regulating pollution. ECO314H1 The use of economic tools in analyzing problems of resource management, sharply rising
and falling prices for many resources especially energy, embargoes on oil shipments, and
the social profitability of energy exports. Development of conservation and the principles
of finite resources; world events and Canadian policy within the framework of
microeconomic analysis. ECO319H1 Theories of regional economic growth and development. Models of general equilibrium
among regions. Regional policy instruments and their interactions across regions. Regional
economic unions. Discussion of Canada’s economic regions. ECO320H1 The practical application of microeconomic theory to common legal problems: torts,
contracts, property and crime, and the limitations of economic analysis. No previous
familiarity with the law is assumed. (This is an economic analysis of legal issues, not a
course in law.) ECO321Y1 (formerly ECO221Y) 52L ECO323Y1 (formerly ECO222Y) 52L ECO324Y1 Economic and social development, and theory and policy analysis relating to problems of
less developed countries; including population, growth, capital formation, human
resources, public and private finance, foreign trade, investment and aid. ECO325H1 To develop both the economic foundations of macroeconomic theory and analytical skills
in constructing and solving macroeconomic models of closed and open economies. Topics may
include: dynamic choice, neoclassical growth theory, fiscal and monetary policy,
uncertainty and rational expectations. ECO326H1 Selected topics in microeconomic theory such as: consumer and firm decision making,
welfare economics, uncertainty and information, game theory and applications. Emphasis on
modelling and quantitative analysis. ECO327Y1 The development and application of statistical techniques in estimating economic models
and testing economic theory. The implications and treatment of special statistical
problems that arise in estimating economic relationships. ECO328Y1 The operation of the international economy and the economic interdependence among
nations, in terms of international monetary relationships, commodity trade and factor
movements. ECO330H1 Transition to a market economy in Central and Eastern Europe. Central planning,
problems of microeconomic and macroeconomic restructuring, taxation, privatization,
monetary policy, inflation, foreign debt, establishing a capital market, etc. ECO332H1 Non-market social institutions using economics are studied. These include group
behaviour, altruism and free riding, discrimination, the family, nature versus nurture,
intergenerational mobility and related issues. ECO333Y1 Spatial economic theory and urban public policy: firms and individuals in partial and
general equilibrium, land development and land-use controls, urban transportation,
efficiency and equity in spending and taxing. ECO334Y1 The operation of the housing and other real estate markets and the markets for real
estate finance; the impact of government intervention on income distribution, efficiency,
and resource allocation in these markets. ECO335Y1 Introduction to earlier periods; 20th- century China and Japan as case studies in
development economics. ECO336Y1 Theory of public goods, externalities, and growth of government: analysis of equity,
incidence and incentive effects of taxes. An analytical treatment of the public sector. ECO338H1 Application of microeconomic theory to conceptual and policy issues in education.
Topics include the economic benefits and costs of education; investment in human capital
and the returns to educational expenditures; the role of government in education;
educational financing and planning. ECO339Y1 The operation of labour markets; determinants of supply and demand for labour; wage
differentials; discrimination; investment in schooling and training; unemployment;
economics of unions. ECO340H1 The personal distribution of income and wealth; distributive justice; measurement of
inequality and poverty. The distributional effects of the tax system, government spending,
economic regulation (including policies such as pay and employment equity), and
macroeconomic policies. ECO342Y1 Economic development of Europe and certain overseas areas, particularly Japan and the
former Soviet Union. Special attention to the Great Depression of the 1930’s, the
period since 1945, international economic interaction among and growth performance of the
major industrial countries. ECO350Y1/351H1/352H1 A seminar may be offered in a different subject each year. Students require permission
of the instructor in addition to the minimum prerequisite published for each seminar. (See
the Undergraduate Secretary for details) ECO357Y1 Development and use of statistical techniques in building models economic theory. This
course is intended for those planning to take graduate courses in econometrics. ECO360Y1 With emphasis on the U.S., Japan and Canada, the course examines theories of
capitalism; long wave Kondratieff cycle; sources of long term economic growth; economics
of technological change and its costs; economic slowdown since 1973. ECO369Y1 The provision of health care provides many special problems of informational asymmetry,
regulation, insurance and redistribution. The course considers the demand and supply side
problems. Alternative reform proposals for health care are explored. ECO370Y1 An introduction to the economic analysis of organizations and, in particular, the firm.
An investigation of how markets can solve the twin problems of coordinating activities and
motivating individuals; and, when markets are less successful, how organizations and
special contractual relationships emerge as alternative institutions for allocating
resources. ECO398H0/399Y0 An instructor-supervised group project in an off-campus setting. See page 42 for
details. ECO414H1 Application of economic concepts and methodology to politics, focusing on the demand
for and the supply of publicly provided goods and services and on the mechanisms through
which they are reconciled. Special attention is given to the size and growth of
governments, bureaucracy and federalism. ECO416H1 The construction and operation of macroeconometric models. The use of models for
conducting policy simulations and for generating quantitative forecasts of economic
activity. ECO418H1 Problems and methods in the analysis of economic data using economic theory.
Specification and estimation of microeconomic relationships and their aggregate
counterparts. Examples taken from consumption behaviour, demand systems, investment
behaviour, production and cost functions, financial modelling and labour economics. ECO419H1 Contemporary issues in international monetary economics and marcroeconomic policy
formulation in open economies like Canada. A study of forces determining interest rates
and exchange rates, inflation and unemployment; analysis of government policy in relation
to financial markets. ECO420Y1/421H1/422H1 Seminars or workshops may be offered in one or more subjects each year. Students must
meet the prerequisites announced by the Department. (See the Undergraduate Secretary for
details.) ECO423H1 Themes are incentives, contracts, and the impetus for change within North America.
Topics covered: the staples growth thesis, slavery, indentured servitude, apprenticeships,
technical change, the evolution of production, the rise of the factory, fertility and
convergence. ECO424H1 Economic analysis of topics in economic development, such as patterns of growth, issues
of poverty and inequality, land reform, tax design and price reform. Focus on application
of theory, especially statistical analysis relating to conduct of economic policy in
developing countries. ECO425H1 A research-oriented course exploring the interrelationships between economics and
demographic change, both historical and projected, with attention to the microeconomic
foundations, macroeconomic performance, and policy in areas such as fertility, migration,
education, labour markets, housing, crime, recreation, leisure, marketing, health,
retirement and pensions. The Canadian experience, with some international comparisons. ECO426H1 An examination of selected research on compensation, incentive issues, cooperation and
allocation of authority in hierarchical organizations. ECO429Y1 History of Economic Thought (formerly ECO322Y) 52L ECO430Y1/431H1 Intended for advanced Specialist students who have exhausted course offerings in a particular area. Open only when a faculty member is available and willing to supervise. Students must obtain the approval of the Associate Chairman for Undergraduate Studies before enrolling. ECO432Y1 This course deals with advanced and contemporary topics in economic theory. Intended
for students with considerable interest and competence in Mathematics. ECO451H1 National economic development primarily in Great Britain, France, Germany, and Russia,
with focus on industrialization, agricultural change, banking and finance, state economic
policies; international trade and factor movements, poverty and income distribution. ECO452H1 National economic development primarily in Great Britain, France, Germany, and Russia,
with focus on industrialization, agricultural change, banking and finance, state economic
policies; international trade and factor movements, poverty and income distribution. ECO453Y1 Selected seminar topics in late-medieval, early-modern European economic and social
history, including: demography, money and banking, international trade, overseas
expansion, regional commerce, industry, agriculture, serfdom, feudal institutions, Church
and state, warfare, and economic philosophies. ECO456H1 An examination of comparative experience in selected public finance areas such as
taxation, federal finance, and the structure of public expenditure, with attention to the
interaction between different national jurisdictions, and to the special problems of
developing countries. ECO457Y1 Topics vary with the interest and backgrounds of the participants: subjects normally
include international monetary arrangements; patterns of international trade, competition
and payments; migration and capital flows; imperialism and dependency; international
fluctuations; the effects of the world wars on the international economy and the evolution
of international economic institutions. ECO458H1 This course blends international trade and industrial organization concepts in
examining the cases for government trade policy as well as the case for (or against)
regional trade agreements. We examine NAFTA as well as specific sectors. An important part
of the course is the individual project presented in class. ECO459H1 The theory and political economy of international trade, with examination of specific
trade institutions: Bretton Woods, WTO, NAFTA, tariff administration, most-favoured nation
treatment, antidumping regulation, subsidies and countervailing duties. |
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