2004 - 2005 Calendar

FACULTY OF ARTS

ECONOMICS COURSE LIST

In accordance with Senate's Policy Regarding Inactive Courses, the course descriptions for courses which have not been offered in the previous three academic years and which are not scheduled to be offered in the current academic year have been removed from the following listing. For information about any of these inactive courses, please contact the Head of the Department.

NOTE: 2010 and 2020 are prerequisites for all advanced courses in Economics. Either course may be taken for semester credit by those intending to complete only 3 credit hours in Economics.

2010. Introduction to Microeconomics I. Scarcity and opportunity cost. Demand and supply. Elasticity. Household demand: marginal utility. Household demand: indifference curves. Production functions. Short-run and long-run cost functions. Perfect competition in the short run and the long run. Monopoly.

2015. Introduction to Microeconomics II. - inactive course.

2020. Introduction to Macroeconomics. National income accounting, aggregate income analysis, money, banking and foreign trade.

2070. The Structure and Problems of the Newfoundland Economy. - inactive course.

2550. Economic Statistics and Data Analysis. Analysis of economic statistics and the use of economic data. A course designed to introduce students to the task of economic data collection, description and analysis. Emphasis will be on interpretation and analysis of data using computer software programs.
Prerequisite: Statistics 2500 or equivalent.

3000. Intermediate Micro Theory I. The basic microeconomic theory course; consumer demand, indifference curve analysis, theory of production and cost, factor substitution, and the theory of the firm under perfect competition and monopoly.

3001. Intermediate Micro Theory II. A continuation of basic micro-economic theory; the theory of imperfect competition, theory of factor pricing under various market structures, general equilibrium and welfare economics.
Prerequisite: Economics 3000.

3010. Intermediate Macro Theory I. Aggregate analysis including consumer, investment, government and international sectors, the role of money, determinants of aggregate supply, and the effects of autonomous behavioural changes and fiscal and monetary policies on unemployment, price levels and the balance of payments.

3011. Intermediate Macro Theory II. Consideration of modern theories of macroeconomics, dynamics, empirical evidence and simulation of the national economy. Emphasis on the availability and effectiveness of government policy instruments.
Prerequisite: Economics 3010.

3030. International Economics - Issues and Problems in a Canadian Context. An intermediate course in international economics. The course covers the theory of comparative advantage, the structure and policy issues of the Canadian balance of payments, the foreign exchange market and the institutional aspects of international commerce.

3070. The Structure and Problems of the Newfoundland Economy. An analysis of the structure of the economy of Newfoundland. Basic economic theory will be applied to current economic issues and problems in Newfoundland.

3080. Natural Resource and Environmental Economics. Application of economic analysis to renewable and nonrenewable natural resource industries such as the fishery, forestry, and mining. Emphasis is given to the criteria for optimal resource use under various market structures and their implications for public policy. Issues of environmental resource management and pollution control will also be covered.

3140. Economic Analysis in Health Care. This course evaluates the role of economic analysis to health and medical care. Topics in the application of cost effectiveness analysis [and cost-benefit analysis] to health care programs, as well as comparisons of the Canadian experience with other health care systems will be discussed.

3150. Money and Banking. The operation of the money and banking system, with special emphasis on Canadian problems. Monetary theory will be treated in relation to income theory and foreign trade.

3360. Labour Market Economics. This is an intermediate course concentrating on Canadian labour issues. The course investigates the labour market decisions that workers face and the influence of government decisions. Course topics also include factors affecting a firm's demand for labour, wage determination in non-union market, the role of unions, the various structure of wages and wage differentials in the Canadian setting.
NOTE: Students who have completed the former Economics 4360 may not receive credit for Economics 3360.

3550. Mathematical Economics I. Linear algebra and differential calculus, with applications to economics.
Prerequisite: Mathematics 1000 or equivalent with a "B" standing, or Mathematics 2050.

3551. Mathematical Economics II. Integral calculus, difference and differential equations, with applications to Economics.
Prerequisite: Economics 3550.

3600. Industrial Revolutions of the 18th and 19th Centuries. (Same as History 3600.) - inactive course.

3610. International Economic History of the 19th and 20th Centuries. (Same as History 3610.) - inactive course.

3620. Canadian Economic History to the End of the 19th Century. (Same as History 3620.) - inactive course.

3630. Canadian Economic History in the 20th Century. (Same as History 3630.) - inactive course.

3711. Intergovernmental Relations. (Same as Political Science 3711)

4000. Advanced Microeconomic Analysis. An advanced treatment of theoretical and applied microeconomic theory, including topics such as inter-temporal choice, risk and information, game theory and competitive strategy, index numbers, public goods, externalities, input-output analysis, linear programming, duality theory and empirical microeconomic studies.
Prerequisite: Economics 3001.

4010. Economics of Development in Less Developed Countries. A problem and policy approach to the economics of development, with emphasis on the issues of poverty, inequality and unemployment. General economic principles, theories and models are examined in the context of less developed economies, and global, institutional and structural implications are drawn.

4011. Economic Planning and Development. - inactive course.

4025. Public Expenditure. An analysis of the theory of public expenditure. Relationship to resource allocation and distribution of income. Market failure and the rationale for government intervention. Theory of public goods. Public choice mechanisms. Expenditure patterns in Canada. Public sector budgeting. Public enterprise pricing and investment rules. Introduction to cost-benefit analysis.
NOTE: Credit may not be obtained for both Economics 4020 and Economics 4025.

4026. Taxation. An analysis of the theory of taxation. Relationship to resource allocation and distribution of income. Incentive effects of taxation. Tax incidence. Tax structure in Canada at federal, provincial and local levels.
NOTE: Credit may not be obtained for both Economics 4020 and Economics 4026.

4030. International Trade. Pure theory of trade, commercial policy, price discrimination and cartels, commercial policy for developing countries and the customs union.

4031. International Monetary Problems. An advanced course in open economy macroeconomics covering balance of payments adjustment under fixed and flexible exchange rates; exchange rate movements and capital movements; the international monetary system; interdependence in the world economy.

4040. Economics of Education. - inactive course.

4050. Inflation: Theory and Policy. - inactive course.

4060. Development of Economic Thought I. - inactive course.

4061. Development of Economic Thought II. - inactive course.

4070. Forestry Economics. - inactive course.

4080. Advanced Fisheries Economics. An examination of advanced theoretical and empirical studies of economic problems associated with prosecuting fisheries resources.

4085. Advanced Environmental Economics. - inactive course.

4090. Mineral and Petroleum Economics. An introduction to some of the theoretical economic problems and practical solutions involved in the exploration, development and production phases of mineral and petroleum mining in Newfoundland and Labrador.

4100. Industrial Organization and Public Policy. Study of the basic characteristics of structure, behaviour and performance of industry with particular reference to the Canadian economy. Relation of industrial structure to social purpose is examined, with an emphasis on public regulations of monopoly and the objectives and implementation of anti-combines policy.

4120. Applied Welfare Economics and Cost Benefit Analysis. This course investigates some current criteria of welfare theory found in the literature and then outlines the principles used in measuring changes in consumer and producer welfare. The theory of cost benefit analysis is examined and then the principles are applied to a variety of projects, some of which are proposed to take place in Newfoundland and Labrador.

4140. Health Economics. - inactive course.

4150. Monetary Theory. Empirical studies in money. Readings in current literature. Monetary theory with applications to problems of employment and foreign trade.

4361. Labour Market Theory and Income Distribution. - inactive course.

4550. Econometrics I. Estimation of the general linear regression model with emphasis on fundamental theory and examples from published empirical research.

4551. Econometrics II. Further problems in econometric theory and technique: multicollinearity, autocorrelation, nonlinear estimation, and the identification and estimation of systems of equations. Published empirical research will be discussed and each student will be expected to perform an original empirical study.
Prerequisite: Economics 4550.

4999. Honours Essay.

WORK TERM DESCRIPTIONS

The following Work Terms are a requirement of the Bachelor of Arts and Bachelor of Science Co-operative Education Option only.

299W. Work Term I. This Work Term follows the successful completion of Academic Term 2.

For most students, it represents their first work experience in a professional environment and as such represents their first opportunity to evaluate their choice of pursuing a career in Economics. Students are expected to learn, develop and practice the high standards of behaviour and performance normally expected in the work environment. (A detailed description of each job is normally posted during the job competition.).

As one component of the Work Term, the student is required to complete a work report. The work report, as a minimum requirement should

a) include a description of the project including the objectives, goals and duties of the student. It should also include a history of student's activities and accomplishments with the employer

b) analyze an issue/problem related to the student's work environment.

c) demonstrate an understanding of the structure of a professional report, and show reasonable competence in written communication and presentation skills. (Students should consult the evaluation form provided in the placement package.)

Late reports will not be graded unless prior permission for a late report has been given by the co-ordinator.

NOTE: Seminars on professional development, conducted by the CESC, are presented during Academic Term 2 to introduce and prepare the student for participation in the subsequent work terms. Topics may include, among others, work term evaluation, work report writing, career planning employment seeking skills, resume preparation, self-employment, ethics and professional concepts, behavioural requirements in the work place, assertiveness in the work place and industrial safety.

399W. Work Term II. This Work Term follows the successful completion of Academic Term 4. Students are expected to further develop and expand their knowledge and work-related skills and should be able to accept increased responsibility and challenge. In addition, students are expected to demonstrate an ability to deal with increasingly complex work-related concepts and problems. 

The Work Report, as a minimum requirement should

a) include a description of the project including the objectives, goals and duties of the student. It should also include a history of student's activities and accomplishments with the employer

b) analyze an issue problem related to the student's work environment and demonstrate an understanding of practical application of concepts relative to the student's academic background

c) demonstrate competence in creating a professional report, and

d) show competence in written communication and presentation skills.

Late reports will not be graded unless prior permission for a late report has been given by the co-ordinator.

499W. Work Term III. This Work Term follows the successful completion of Academic Term 5. Students should have sufficient academic grounding and work experience to contribute in a positive manner to the problem-solving and management processes needed and practiced in the work environment. Students should become better acquainted with their discipline of study, should observe and appreciate the attitudes, responsibilities, and ethics normally expected of professionals and should exercise greater independence and responsibility in their assigned work functions.

The Work Report should reflect the growing professional development of the student and, as a minimum requirement, will

a) include a description of the project including the objectives, goals and duties or the student. It should also include a history of student's activities and accomplishments with the employer

b) demonstrate an increased ability to analyze a significant issue/problem related to the student's experience in the work environment

c) demonstrate a high level of competence in producing a professional report, and

d) show a high level of competence in written communication and presentation skills.

Late reports will not be graded unless prior permission for a late report has been given by the co-ordinator.


Please direct inquiries to deanarts@mun.ca


Last modified on April 30, 2004 by R. Bruce

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