Office of the Registrar
Grenfell Campus (2017/2018)
13.9 Economics

Economics courses are designated by ECON.


Introduction to Microeconomics I

(same as the former ECON 2010) examines 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.

CR: the former ECON 2010


Introduction to Macroeconomics

(same as the former ECON 2020) covers national income accounting, aggregate income analysis, money, banking and foreign trade.

CR: the former ECON 2020


Economic Statistics and Data Analysis

is an 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.

PR: ECON 1010 (or the former 2010) and/or ECON 1020 (or the former 2020), and Statistics 2500 or equivalent.


Intermediate Micro Theory I

is 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.

PR: ECON 1010 (or the former 2010) and/or ECON 1020 (or the former 2020)


Intermediate Micro Theory II

is a continuation of basic microeconomic theory; the theory of imperfect competition, theory of factor pricing under various market structures, general equilibrium and welfare economics.

PR: ECON 3000


Intermediate Macro Theory I

is 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.

PR: ECON 1010 (or the former 2010) and/or ECON 1020 (or the former 2020)


Intermediate Macro Theory II

is a 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.

PR: ECON 3010


International Economics: Issues and Problems in a Canadian Context

is 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.

PR: ECON 1010 (or the former 2010) and/or ECON 1020 (or the former 2020)


Economic Forecasting: Methods and Applications

- inactive course.


Natural Resource and Environmental Economics

is 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.

PR: ECON 1010 (or the former 2010) and/or ECON 1020 (or the former 2020)


Issues in Ecological Economics

(same as Environmental Studies 3085) aims to explore the dynamic interaction between the economic system and the ecological system that sustains it by using trans-disciplinary theoretical approaches and methodologies. The main focus of this course will be on Ecological Economics concepts such as low and high entropy, biotic and abiotic goods and services, stock-flow resources, carrying capacity, throughput, co-evolution, sustainable scale, use value, and their applications in a problem-solving context.

CR: Environmental Studies 3085

PR: ECON 1010 (or the former 2010)


Money and Banking

examines 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.

PR: ECON 1010 (or the former 2010) and/or ECON 1020 (or the former 2020)


Financial Economics

provides an analysis of the major building blocks of the modern theory of financial economics and their implications for decision-making. To reflect that modern finance is a branch of economics, emphasis will be on how general economic principles and analytical techniques can be applied across all finance sub-fields. Topics include the basic pillars in finance–intertemporal optimization, asset valuation, risk management–and selected issues that will vary each year.

CR: Business 4500 (St. John's), the former Business 4500 (Grenfell)

PR: Mathematics 1000 or its equivalent, ECON 1010 (or the former 2010) and/or ECON 1020 (or the former 2020). Students are recommended to take ECON 2550 or its equivalent prior to taking thus course.


Mathematical Economics I

examines linear algebra and differential calculus, with applications to economics.

PR: Mathematics 1000 or equivalent with a "B" standing, or Mathematics 2050 and ECON 1010 (or the former 2010) and/or ECON 1020 (or the former 2020)


Mathematical Economics II

covers integral calculus, difference and differential equations, with applications to Economics.

PR: ECON 1010 (or the former 2010) and/or ECON 1020 (or the former 2020), ECON 3550


Econometrics I

covers estimation of the general linear regression model with emphasis on fundamental theory and examples from published empirical research.

PR: ECON 2550, 3000 and 3010.


Econometrics II

covers 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.

PR: ECON 4550

AR = Attendance requirement; CH = Credit hours are 3 unless otherwise noted; CO = Co-requisite(s); CR = Credit can be retained for only one course from the set(s) consisting of the course being described and the course(s) listed; LC = Lecture hours per week are 3 unless otherwise noted; LH = Laboratory hours per week; OR = Other requirements of the course such as tutorials, practical sessions, or seminars; PR = Prerequisite(s); UL = Usage limitation(s).