Department of Economics

Professor and Chair B. Moazzami
Professor and Graduate Co-ordinator B. Moazzami
Professors L. Di Matteo,
  B. Moazzami
Associate Professor M.T. Shannon
Assistant Professors R. Petrunia,
  K. Yu
Professors Emeriti of Economics F.J. Anderson,
  N.C. Bonsor,
  T.D. Harris,
  C.A. Jecchinis,
  G.A. Kondor



Candidates are accepted under the regulations governing the Master's degrees (see page 267-269) provided they also satisfy the additional requirements of the Department of Economics listed below:
(a) An Honours B.A. (Economics) or an equivalent four-year degree with at least second class standing.
(b) Candidates may be required to make up deficiencies by taking courses in addition to those required for the Master's degree. This will be at the discretion of the department.
(c) Application must be submitted by February 1. Late applications may be considered for admission, but may not be eligible for funding.


The academic program for each admitted student commences in September. Our students have a choice between Thesis and Non-Thesis programs with many students choosing the Non-Thesis program, which emphasizes course work.
It is expected that all graduate students will attend the economics workshop sessions (faculty discussion papers, special lectures) conducted by the department during the regular academic year.

Thesis Program
The thesis program consists of six half courses and a thesis on a topic approved by the department. The program must include Economics 5111, 5113, 5117, 5118, 5119 and one other half course at the fourth or fifth year level; courses at the fourth year level to be subject to the approval of the Department of Economics.

Non-Thesis Program
The non-thesis program consists of:
(a) eight half courses which must include Economics 5111, 5113, 5117, 5118, 5119 and three other half courses at the fourth and fifth year level, no more than two of which may be at the fourth year level; courses at the fourth year level to be subject to the approval of the Department of Economics;
(b) Economics 5801 - an extended research paper - selected in consultation with the department.

The MA Co-operative Option
The purpose of the co-op option is to provide students with an opportunity to apply knowledge and skills acquired in the classroom and to obtain new insights and educational experience. Two four-month work terms (which may be taken consecutively) follow the first two terms of study. To proceed to the co-op option, students must complete at least six half courses chosen from those required for the thesis and non-thesis options. The departmental recommendation for the work terms will be based on academic performance and an interview with the Selection Committee consisting of representatives of the department and the Co-operative Education Centre. In consultation with the department, the Co-operative Education Centre will make every effort to obtain suitable placements. Upon completion of the work terms, students will return to complete the remainder of their program.

MA with Graduate Diploma in Health Services and Policy Research
Students who wish to enter this program, should refer to the Graduate Diploma in Health Services and Policy Research, Graduate Programs in the Faculty of Professional Schools, page 300 of this Calendar.

Graduate Courses

Courses not offered this academic year (fall/winter terms) are indicated by the words "NOT OFFERED THIS YEAR" below the course description. Nevertheless, students should refer to the Timetable as a final check.

The following courses are offered for Master's programs.

(Information about Course Numbering System)

Economics 5111
Mathematical Economics
3-1; 0-0
Based on the background of the students, content will focus on calculus and matrix algebra as applied to economic theory, including comparative statics and optimization in economics; homogeneous and homothetic functions; dynamics; existence and stability of equilibria.

Economics 5113
Advanced Microeconomics
3-1; or 3-1
Prerequisite: Economics 5111
Theory of consumer behaviour. Theory of production and the firm. Market structures. Market equilibrium and stability. Topics from welfare economics and collective choice. Utilizes techniques developed in Economics 5111.

Economics 5115
Econometrics I
3-1; or 3-1
Distribution theory. Regression analysis and hypothesis testing. Generalized least squares. Identification and other statistical estimation problems. Single equation and systems estimation applied to economic models.

Economics 5117
Advanced Macroeconomics I
3-0; or 3-0
Prerequisite: Economics 5115
The aggregate demand-supply model. Consumption and investment functions. Models of income determination and the accumulation of wealth. The monetary sector. Alternative transmission mechanisms for monetary and fiscal policy. Large and small scale econometric models of the macroeconomy.

Economics 5118
Advanced Macroeconomics II
3-0; or 3-0
Research methods of macroeconomics involving both continuous-time and discrete-time specifications. Deriving and analyzing phase diagrams and solving linear expectational difference equations using the method of undetermined coefficients. The range of models used for this purpose include: Solow growth model, endogenous growth theories, real business cycle models, traditional IS-LM/AD-AS model with rational expectations, and new models of macroeconomic stabilization theory and policy. Particular attention will be paid to explaining the underlying logic of mathematical macroeconomic models at an intuitive level.

Economics 5119
Econometrics II
3-1; or 3-1
Prerequisite: Economics 5115 or permission of the instructor
Emphasis on applied econometrics. Use of the computer in econometrics. Advanced regression theory. Static and dynamic models. Specification tests. Testing linear restrictions. The likelihood ratio and Lagrange multiplier tests. The instrumental variable method.

Economics 5215
Labour Economics
3-0; or 3-0
A survey of the economics of labour supply, labour demand, earnings determination and unemployment with stress on empirical methods using microdata.

Economics 5233
Industrial Organization
3-0; or 3-0
An examination of industrial organization models and competition policy. Regulatory theory. Optimal pricing models. Sustainability of equilibrium under alternative market structures. Emphasis on the theoretical underpinnings and current developments in the literature.

Economics 5257
Resources/Environmental Economics
3-0; or 3-0
Theory and policy of extractive resource use. Dynamic optimization models of non-renewable resources. Optimal forest and fishery management. Renewable resource policy. Resource rents and rent capture. Topics in the economic theory of the environment and current environmental policy debates.

Economics 5279
Fiscal Federalism
3-0; or 3-0
The economics of multi-level government finance with theoretical and policy approaches emphasizing the Canadian federation. The economic rationale for a federal system, the Tiebout Model, the division of powers, centralization and decentralization, public goods and taxation in a federal system. Particular attention will be paid to the system of federal-provincial grants and transfers.

Economics 5315
Game Theory
3-1; or 3-1
An introduction to the methods for finding Nash equilibria under different circumstances. Moveover, classroom examples will be employed to allow discussion of the value of the Nash equilibrium as a solution concept.

Economics 5411 (ST)
Special Topics I
3-0; or 3-0
Subject matter determined by the needs and interests of the participating students and faculty.

Economics 5415 (ST)
Special Topics II
3-0; or 3-0
Subject matter determined by the needs and interests of the participating students and faculty.

Economics 5801 (9801)
Research Paper
Topic determined in consultation with departmental advisors.

Economics 5901 (9901)
Master's Thesis
Topic determined in consultation with departmental advisors.

Economics 5990
Co-op Work Term I

Economics 5992
Co-op Work Term II

See also:
Faculty of Graduate Studies - Information/Regulations
Department of Economics - Undergraduate

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2007-2008 Calendar version