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ECO Economics Courses SSC199Y1 Undergraduate seminar that focuses on specific ideas,
questions, phenomena or controversies, taught by a regular Faculty member deeply engaged
in the discipline. Open only to newly admitted first year students. It may serve as a
distribution requirement course; see page 44. NOTE ECO100Y1 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.
Lecture topics include: economic growth, the importance of productivity, international
trade, competitive markets, macroeconomic issues and more specific topics such as rent
controls, OPEC, the international debt crisis, trade restrictions, the national debt and
sustainable development. 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 apogee
of the Commercial Revolution era and the ensuing economic crises of the later - early 14th
centuries to the eve of the modern Industrial Revolution, focusing on Italy, Spain,
Portugal, France, Germany, the Low Countries and England. Major topics: feudalism, serfdom
and other barriers to economic growth; demographic, monetary and other macroeconomic
forces; the development of market economies; 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. 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 fiscal relations (transfers, allocation of taxes);
aspects of tax policy at all levels of government (income, sales, property taxes); public
pensions. 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. WDW244Y1 (See "Woodsworth College") 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 44 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 development of modern Europe, focusing on urban
industrialization in the Netherlands, Great Britain, France, Germany, and Russia, up to
World War I. Major topics: technological, institutional, and social factors in economic
growth; demographic and monetary forces; structural changes in and interactions among the
agrarian, commercial, financial, and industrial sectors; international trade and capital
flows; the role of the state; the role of economic theory and ideology; theories of
post-1850 imperialism. ECO306Y1 U.S. economic history from European settlement to the late
20th century. Interrelationships of the U.S. and world developments, international
migration, economic policies, institutions, capital flows and technological transfer. ECO310Y1 Analysis of firm behaviour in imperfectly competitive markets
and how well those markets function. The impact of market power; limited information;
transaction costs; barriers to entry; strategic behaviour of competitors; externalities
and contractual agreements on firm and market performance; evaluation of competition
policy and government regulation. MGT310Y1 (See "Commerce") 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 microeconomic techniques can inform our responses to various environmental problems.
Topics may include: air and water pollution and renewable resource management. 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 development theory and policy related to the
economic transformation of the developing countries, including industrial and agricultural
sector strategies, international trade policy, public sector activities and the importance
of productivity growth. ECO325H1 To develop the economic foundations of macroeconomic theory
and analytic skills in constructing and solving macroeconomic models. Topics may include:
dynamic choice, neoclassical growth theory, uncertainty and rational expectations,
business cycles, as well as fiscal and monetary policy. ECO326H1 Game theory and applications. Topics include: consumer and
firm strategic decision-making, welfare economics, uncertainty and information, industrial
organization. Emphasis on modeling 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. ECO332H1 This course uses microeconomics to study the behaviour of the
family, including marriage, divorce, intra-family allocations, investment in children and
gender roles. 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 East Asian economies. Special attention to globalization before
1914, problems of the interwar years, the Great Depression of the 1930's, the period since
1945, international trade, the balance of payments and exchange rate mechanisms, growth
performance of the major industrial countries. ECO350Y1/351H1/352H1Special Topics in Economics 52S/26S Prerequisite: TBA ECO353Y1/354H1/355H1 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 United States, Japan and Canada, this
course examines theories of capitalism; Long Wave Cycle, the importance of productivity
growth and Solow's residual, the economics of technological change, the Japanese/U.S.
trade interface, the economic slowdown since 1973 and the current Canadian productivity
challenge. 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 44 for details. JPE400Y1 An integration of economics and political science to explore
both the domestic and international obstacles to development in the contemporary Third
World and the efficacy of the development strategies actually followed. (Given by the
Departments of Economics and Political Science) JPE402Y1 Lectures relate questions of economic organization to
philosophical interpretations of community and citizenship. Philosophers include Plato,
Aristotle, Calvin, Smith, Kant, Hegel, Habermas, Rawls and Hayek. Seminars interpret
critical moments in 20th century economic history from the standpoint of philosophy. Does
philosophy clarify or obscure the meaning of economic history? (Given by the Departments
of Economics and Political Science) 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, labour and
development 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 Development of analytical economics from the 18th century
with emphasis on Adam Smith, the British Classical School (David Ricardo, T.R. Malthus,
and J.S. Mill), Karl Marx, the Marginalists and their successors to 1939. ECO430Y1/431H1 TBA ECO432Y1 This course deals with advanced and contemporary topics in
economic theory. Intended for students with considerable interest and competence in
Mathematics. ECO451H1 An introduction to modern theories of the determinants of
macroeconomic growth that examines the important question of why some countries are rich
and others are poor. Topics include: investigation of empirical literature pertaining to
international comparisons of recent and past rates of economic growth across countries. 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. 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, agriculture, trade in services, trade-related intellectual
property, trade and environment, trade and developing countries. |
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