13.9 Economics

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.

Economics courses are designated by ECON.

ECON 1010 Introduction to Microeconomics I

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.


the former ECON 2010

ECON 1020 Introduction to Macroeconomics

covers national income accounting, aggregate income analysis, money, banking and foreign trade.


the former ECON 2020

ECON 2550 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.

ECON 1010 (or the former 2010) and/or ECON 1020 (or the former 2020), Statistics 2500 or equivalent.
ECON 3000 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.

ECON 1010 (or the former 2010) and/or ECON 1020 (or the former 2020), Mathematics 1000 or its equivalent
ECON 3001 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.

ECON 3000
ECON 3010 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.

ECON 1010 (or the former 2010) and/or ECON 1020 (or the former 2020), Mathematics 1000 or its equivalent
ECON 3011 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.

ECON 3010
ECON 3030 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.

ECON 1010 (or the former 2010) and/or ECON 1020 (or the former 2020)
ECON 3050 Economic Forecasting: Methods and Applications

- inactive course.

ECON 3080 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.

ECON 1010 (or the former 2010)
ECON 3085 Issues in Ecological Economics

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.


the former Environmental Studies 3085


ECON 1010 (or the former 2010)

ECON 3150 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.

ECON 1010 (or the former 2010) and/or ECON 1020 (or the former 2020)
ECON 3160 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.

the former Business 4500 (St. John's), the former Business 4500 (Grenfell)
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.
ECON 3550 Mathematical Economics I

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

ECON 1010 (or the former 2010), Mathematics 1000 with a "B" standing, or Mathematics 2050
ECON 3551 Mathematical Economics II

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

ECON 3000, ECON 3550,Mathematics 1000 with a "B" standing
ECON 4550 Econometrics I

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

ECON 2550, 3000, 3010.
ECON 4551 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.

ECON 4550

AN = Additional notes.

AR = Attendance requirement as noted.

CH = Credit hours: unless otherwise noted, a course normally has a credit value of 3 credit hours.

CO = Co-requisite(s): course(s) listed must be taken concurrently with or successfully completed prior to the course being described.

CR = Credit restricted: The course being described and the course(s) listed are closely related but not equivalent.  Credit is limited to one of these courses.  Normally, these courses cannot be substituted, one for the other, to satisfy program requirements.

EQ = Equivalent: the course being described and the course(s) listed are equal for credit determination.  Credit is limited to one of these courses.  These courses can be substituted, one for the other, to satisfy program requirements.

LC = Lecture hours per week: lecture hours are 3 per week unless otherwise noted.

LH = Laboratory hours per week.

OR = Other requirements of the course such as tutorials, practical sessions, or seminars.

PR = Prerequisite(s): course(s) listed must be successfully completed prior to commencing the course being described.

UL = Usage limitation(s) as noted.

The information on this site has been extracted from the Official 2023-2024 University Calendar. While every reasonable effort has been made to duplicate the information contained in the official University Calendar, if there are differences, the official Memorial University of Newfoundland Calendar will be considered the final and accurate authority.

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