U of T : Economics : Undergraduate Programs

Undergraduate Programs

Courses offered Winter 2018–2019

Click on section number for course details. Timetable view for Fall, Winter. To locate classrooms, see campus map.
Course delivery table: Unless otherwise indicated the courses are delivered In Person. For other course delivery methods, please refer to the section colors
Hybrid (New)	Asynchronous
Online Synchronous	T.B.D.
Qualifies for Data Analytics Focus


Number	Section		Title, instructor	Day, time	Location

ECO101H1F			Principles of Microeconomics • Calendar entry
	L0101		Robert Gazzale • outline • Learning outcomes	MWF3	CH
		Use the basic analytical principles and tools of modern economics to understand and assess observed economic phenomena, contemporary economic problems and government economic policies. Explain how resources are allocated and income is distributed in a market economy. Describe and model the behaviour of economic agents, including households, firms and governments, and explain how these behaviours affect the determination of prices, quantities and welfare in individual markets for commodities and resources.
	L0201		James E. Pesando • outline • Learning outcomes	MWF11	BT101

	L0301		Robert Gazzale • outline • Learning outcomes	MWF12	BT101
		Use the basic analytical principles and tools of modern economics to understand and assess observed economic phenomena, contemporary economic problems and government economic policies. Explain how resources are allocated and income is distributed in a market economy. Describe and model the behaviour of economic agents, including households, firms and governments, and explain how these behaviours affect the determination of prices, quantities and welfare in individual markets for commodities and resources.
	L0401		Robert Gazzale • outline • Learning outcomes	MWF1	BT101
		Use the basic analytical principles and tools of modern economics to understand and assess observed economic phenomena, contemporary economic problems and government economic policies. Explain how resources are allocated and income is distributed in a market economy. Describe and model the behaviour of economic agents, including households, firms and governments, and explain how these behaviours affect the determination of prices, quantities and welfare in individual markets for commodities and resources.
	L5101		Robert Gazzale • outline • Learning outcomes	M6-9	MS2158
		1. Help you learn how to think like an economist and thereby analyze various scenarios, including personal ones, through that lens 2. Introduce you to basic microeconomic principles and models, and how they can be applied to public policy issues 3. Develop your problem-solving skills, using course concepts 4. Prepare you for higher-level ECO courses, should you wish to enrol in them
ECO101H1S			Principles of Microeconomics • Calendar entry
	L5101		Kieran Furlong • outline • Learning outcomes	W6-9	CH

ECO102H1F			Principles of Macroeconomics • Calendar entry
	L0101		Kieran Furlong • outline • Learning outcomes	T2-4, F10	BR200

ECO102H1S			Principles of Macroeconomics • Calendar entry
	L0101		Loren Brandt • Learning outcomes	MWF10	BT101

	L0201		Loren Brandt • Learning outcomes	MWF11	BT101

	L0301		Robert Gazzale • outline • Learning outcomes	MWF12	BT101
		Use the basic analytical principles and tools of modern economics to understand and assess observed economic phenomena, contemporary economic problems and government economic policies. Describe and model the relationships between aggregate economic variables, including national output, the level of aggregate consumption and investment, interest rates, employment and unemployment, and the average level and rate of change of all prices. Explain how government policies influence the aggregate behaviour and performance of an economy.
	L0401		Robert Gazzale • outline • Learning outcomes	MWF1	BT101
		Use the basic analytical principles and tools of modern economics to understand and assess observed economic phenomena, contemporary economic problems and government economic policies. Describe and model the relationships between aggregate economic variables, including national output, the level of aggregate consumption and investment, interest rates, employment and unemployment, and the average level and rate of change of all prices. Explain how government policies influence the aggregate behaviour and performance of an economy.
	L5101		Michael Ho • outline • Learning outcomes	M6-9	MC 102

ECO105Y1Y			Principles of Economics for Non Specialists • Calendar entry
	L0101		Avi J. Cohen • outline • Learning outcomes	M8-10, F10	MF BT101; 2nd term M MS 2158, F OI G162
		Understand the concept of economic equilibrium and its role in economistsâ€™ use of simple models to approximate controlled experiments in the natural sciences. Proficiently apply the economic way of thinking to explain economic and non-economic events using simple models that focus on important variables while setting aside unnecessary complications. Distinguish positive from normative claims about economic events and policies. Appreciate the limitations of economic models for explaining economic and non-economic events. Use cost/benefit analysis to identify the trade-offs, including intended and unintended consequences, of all choices. Explain the objectives, successes, and failures of government policies such as minimum wages, rent controls, competition policy, environmental policy, trade policy, and tax and income redistribution policy. Find data measuring macroeconomic outcomes including GDP, economic growth, unemployment, inflation, and understand the limitations of each measure. Describe the fundamental macroeconomic question of whether markets quickly self-adjust, and explain both the hands-off and hands-on positions on the role of government fiscal and monetary policy. Come to an informed personal opinion about the appropriate role of government in macroeconomic policy. Write persuasive, informed opinion pieces about microeconomic and macroeconomic policy issues for a general audience.
	L9901		Avi J. Cohen • outline • Learning outcomes
		Understand the concept of economic equilibrium and its role in economistsâ€™ use of simple models to approximate controlled experiments in the natural sciences. Proficiently apply the economic way of thinking to explain economic and non-economic events using simple models that focus on important variables while setting aside unnecessary complications. Distinguish positive from normative claims about economic events and policies. Appreciate the limitations of economic models for explaining economic and non-economic events. Use cost/benefit analysis to identify the trade-offs, including intended and unintended consequences, of all choices. Explain the objectives, successes, and failures of government policies such as minimum wages, rent controls, competition policy, environmental policy, trade policy, and tax and income redistribution policy. Find data measuring macroeconomic outcomes including GDP, economic growth, unemployment, inflation, and understand the limitations of each measure. Describe the fundamental macroeconomic question of whether markets quickly self-adjust, and explain both the hands-off and hands-on positions on the role of government fiscal and monetary policy. Come to an informed personal opinion about the appropriate role of government in macroeconomic policy. Write persuasive, informed opinion pieces about microeconomic and macroeconomic policy issues for a general audience.
SII199H1F			First Year Seminar
	L0181		Kieran Furlong • outline • Learning outcomes	M10-12	UC D301

SII199H1S			First Year Seminar
	L0181		Kieran Furlong • outline • Learning outcomes	M10-12	UC D301

SII199Y1Y			First Year Seminar
	L0181		Masoud Anjomshoa • outline • Learning outcomes	R10-12	SS 2120
		- By the end of this course, learners will be able to: - Think critically, write critically, and giving presentations to colleagues. - Adopt and apply the economic way of thinking and basic economic tools and concepts. - Apply optimality conditions to daily life decisions, economic decisions, and specifically to solve environmental problems. - Distinguish the differences between regular goods/services and environmental services and natural resources, which lead to environmental problems. - Approach to solve environmental problems using economic tools. - By the end of this course, learners will be able to: - Think critically, write critically, and giving presentations to colleagues. - Adopt and apply the economic way of thinking and basic economic tools and concepts. - Apply optimality conditions to daily life decisions, economic decisions, and specifically to solve environmental problems. - Distinguish the differences between regular goods/services and environmental services and natural resources, which lead to environmental problems. - Approach to solve environmental problems using economic tools. - By the end of this course, learners will be able to: - Think critically, write critically, and giving presentations to colleagues. - Adopt and apply the economic way of thinking and basic economic tools and concepts. - Apply optimality conditions to daily life decisions, economic decisions, and specifically to solve environmental problems. - Distinguish the differences between regular goods/services and environmental services and natural resources, which lead to environmental problems. - Approach to solve environmental problems using economic tools.
ECO200Y1Y			Microeconomic Theory • Calendar entry
	L0101		John McNeill • outline • Learning outcomes	M10-12, F12-2 Note: tutorial F12-2	M SS 2102, F OI G162
		By the end of this course, students will be able to utilize constrained-optimization techniques to analyze behavior of both consumers and producers. By the end of this course, students will be able to identify the conditions that lead to different market structures, and analyze the differing resulting equilibrium predictions in those markets. By the end of this course, students will be able to apply game theory concepts to make predictions about equilibrium outcomes in both simultaneous and sequential move games. By the end of this course, students will be able to evaluate the impact of making economic models increasingly realistic and complex through the introduction of elements of uncertainty, asymmetric information, and externalities.
	L0201		John McNeill • outline • Learning outcomes	M2-4, F12-2	M SS2102, F OI G162
		By the end of this course, students will be able to utilize constrained-optimization techniques to analyze behavior of both consumers and producers. By the end of this course, students will be able to identify the conditions that lead to different market structures, and analyze the differing resulting equilibrium predictions in those markets. By the end of this course, students will be able to apply game theory concepts to make predictions about equilibrium outcomes in both simultaneous and sequential move games. By the end of this course, students will be able to evaluate the impact of making economic models increasingly realistic and complex through the introduction of elements of uncertainty, asymmetric information, and externalities.
	L5101		John McNeill • outline • Learning outcomes	R6-9	SS2135
		1. Continue to help you to think like an economist by expanding Micro principles and models to new scenarios 2. Expand your problem-solving skills using course concepts in Consumer Theory and Production Theory 3. Provide an introduction to Game Theory, which you can apply to many scenarios 4. Help you to improve your writing skills through two writing assignments (Economists need to write too!)
ECO202Y1Y			Macroeconomic Theory and Policy • Calendar entry
	L0101		Masoud Anjomshoa • outline • Learning outcomes	M2-5	AH 400
		By the end of this course, learners will be able to: Understand how to measure a countryâ€™s national accounts from output, income and expenditure sides; balance of payments; major indices like inflation rate, unemployment rate, consumer confidence index, â€¦ Analyze macroeconomic phenomena using three approaches: algebraic models, graphs, and pure economic intuition Analyze the equilibrium in goods market, financial market (money market and exchange market), and labor market in short/long run, closed/open economies, with/without economic shocks. Analyze short run economic business cycles and long run economic growth (trends), and identify their determinants Analyze the short/long run impacts of fiscal and monetary policies on the economies in macro level Understand the role of societyâ€™s expectations, policies effectiveness, cost of policies, policy makers credibility, and politics of policies Analyze the short run/long run impacts of supply side policies and shocks on macro level: technological progress, minimum wage policies, labor unions, employment insurances, efficiency wages, competition expansion policies Analyze the macroeconomic equilibrium with different exchange rate regimes: floating vs. pegged exchange rate regimes Apply macroeconomic theories to real world cases by practicing with current world news during the course Try to work out empirical studies using macroeconomic data from major data sources
	L0201		Masoud Anjomshoa • outline • Learning outcomes	T9-12	AH 400
		By the end of this course, learners will be able to: Understand how to measure a countryâ€™s national accounts from output, income and expenditure sides; balance of payments; major indices like inflation rate, unemployment rate, consumer confidence index, â€¦ Analyze macroeconomic phenomena using three approaches: algebraic models, graphs, and pure economic intuition Analyze the equilibrium in goods market, financial market (money market and exchange market), and labor market in short/long run, closed/open economies, with/without economic shocks. Analyze short run economic business cycles and long run economic growth (trends), and identify their determinants Analyze the short/long run impacts of fiscal and monetary policies on the economies in macro level Understand the role of societyâ€™s expectations, policies effectiveness, cost of policies, policy makers credibility, and politics of policies Analyze the short run/long run impacts of supply side policies and shocks on macro level: technological progress, minimum wage policies, labor unions, employment insurances, efficiency wages, competition expansion policies Analyze the macroeconomic equilibrium with different exchange rate regimes: floating vs. pegged exchange rate regimes Apply macroeconomic theories to real world cases by practicing with current world news during the course Try to work out empirical studies using macroeconomic data from major data sources
	L5101		Masoud Anjomshoa • outline • Learning outcomes	M6-9	MS 3153
		By the end of this course, learners will be able to: Understand how to measure a countryâ€™s national accounts from output, income and expenditure sides; balance of payments; major indices like inflation rate, unemployment rate, consumer confidence index, â€¦ Analyze macroeconomic phenomena using three approaches: algebraic models, graphs, and pure economic intuition Analyze the equilibrium in goods market, financial market (money market and exchange market), and labor market in short/long run, closed/open economies, with/without economic shocks. Analyze short run economic business cycles and long run economic growth (trends), and identify their determinants Analyze the short/long run impacts of fiscal and monetary policies on the economies in macro level Understand the role of societyâ€™s expectations, policies effectiveness, cost of policies, policy makers credibility, and politics of policies Analyze the short run/long run impacts of supply side policies and shocks on macro level: technological progress, minimum wage policies, labor unions, employment insurances, efficiency wages, competition expansion policies Analyze the macroeconomic equilibrium with different exchange rate regimes: floating vs. pegged exchange rate regimes Apply macroeconomic theories to real world cases by practicing with current world news during the course Try to work out empirical studies using macroeconomic data from major data sources
ECO204Y1Y			Microeconomic Theory • Calendar entry
	L0101		Ajaz Hussain • website • outline • Learning outcomes	T11-1; F11-1	T SS2118; F BA 1160
		By the end of this course, you should be able to analyze, identify, formulate, articulate, and present a structured solution to salient issue(s) in real life business-economics cases. By the end of this course, you should be able to build Micro-Excel models including Monte-Carlo simulation, optimization, and data analysis By the end of this course, you should be able to work cooperatively with others in a team setting. By the end of this course, you should be able to compose professional level presentations and business reports.
	L0201		Ajaz Hussain • website • outline • Learning outcomes	T2-4; F11-1	T NL 6; F BA 1160
		By the end of this course, you should be able to analyze, identify, formulate, articulate, and present a structured solution to salient issue(s) in real life business-economics cases. By the end of this course, you should be able to build Micro-Excel models including Monte-Carlo simulation, optimization, and data analysis By the end of this course, you should be able to work cooperatively with others in a team setting. By the end of this course, you should be able to compose professional level presentations and business reports.
	L0301		Ajaz Hussain • website • outline • Learning outcomes	W11-1; F2-4	W BA 1190; F LM 159
		By the end of this course, you should be able to analyze, identify, formulate, articulate, and present a structured solution to salient issue(s) in real life business-economics cases. By the end of this course, you should be able to build Micro-Excel models including Monte-Carlo simulation, optimization, and data analysis By the end of this course, you should be able to work cooperatively with others in a team setting. By the end of this course, you should be able to compose professional level presentations and business reports.
	L0401		Ajaz Hussain • website • outline • Learning outcomes	W2-4, F2-4	W BA 1170; F LM 159
		By the end of this course, you should be able to analyze, identify, formulate, articulate, and present a structured solution to salient issue(s) in real life business-economics cases. By the end of this course, you should be able to build Micro-Excel models including Monte-Carlo simulation, optimization, and data analysis By the end of this course, you should be able to work cooperatively with others in a team setting. By the end of this course, you should be able to compose professional level presentations and business reports.
	L0501		Karen Bernhardt-Walther • outline • Learning outcomes	R10-1	EM 001
		Develop a deep understanding of standard microeconomic models and be able to solve a wide range of numeric, graphical, and formal microeconomic problems. (Foundational) Apply microeconomic models, understand their purpose, and critically assess their limitations. Connect microeconomic models to real-world observations. Draw on several problem-solving strategies when approaching unfamiliar problems. (Integration and Application) Develop professional writing skills. Practice structured team work. (Professional Development)
ECO206Y1Y			Microeconomic Theory • Calendar entry
	L0101		Patrick Blanchenay • website • outline • Learning outcomes	R11-1,W6-8	R AH 400, 2nd term NL6; W NL 6

	L5101		Patrick Blanchenay • website • outline • Learning outcomes	WR6-8	MP 203

ECO208Y1Y			Macroeconomic Theory • Calendar entry
	L0101		Diego Restuccia • outline • Learning outcomes	T11-1, F2-4	BA 1170

	L5101		Murat Celik • outline • Learning outcomes	MT6-8	OI 2212
		Introduction to the main topics of interest in macroeconomics, such as economic growth, business cycles, and labour market frictions. Developing a theoretical foundation and familiarity with rigorous analytical models in order to prepare the students for more advanced treatments of macroeconomic questions. Learning the basic concepts in macroeconomics, such as gross domestic product, national income accounting, inflation and price indices, labour market metrics, and business cycle terminology. Understanding, constructing, and using macroeconomic models tailored towards particular questions in order to assess how government policies or macroeconomic events affect the agents in the economy, such as consumers and firms, in a general equilibrium setting. Learning how and why to use micro-foundations (agent based modeling with rational expectations) to arrive at consistent aggregate economic implications, in line with the Lucas Critique. Understanding the difference between general equilibrium and partial equilibrium analyses; and thus the difference between micro- and macroeconomic approaches to economic questions.
ECO209Y1Y			Macroeconomic Theory • Calendar entry
	L0101		Gustavo Indart • website • outline • Learning outcomes	T10-1	UC 161; winter term RW 110
		Gain an understanding of core economic principles and how they apply to a wide range of real-world issues. Understand the factors determining gross domestic product, employment, interest rates, the rate of inflation, and the exchange rate. Understand the political and ideological components underlying the implementation of economic policy. Analyze the determinants of the relative strengths of fiscal and monetary policy for affecting gross domestic product. Understand the role of international trade and cross-border capital movements in affecting output and employment. Become familiar with salient developments in the national and international economy. Learn how to articulate pragmatic, principles-based economic policies to enhance economic well-being and promote social justice.
	L0201		Gustavo Indart • website • outline • Learning outcomes	T2-5	RW 117
		Gain an understanding of core economic principles and how they apply to a wide range of real-world issues. Understand the factors determining gross domestic product, employment, interest rates, the rate of inflation, and the exchange rate. Understand the political and ideological components underlying the implementation of economic policy. Analyze the determinants of the relative strengths of fiscal and monetary policy for affecting gross domestic product. Understand the role of international trade and cross-border capital movements in affecting output and employment. Become familiar with salient developments in the national and international economy. Learn how to articulate pragmatic, principles-based economic policies to enhance economic well-being and promote social justice.
	L0301		Gustavo Indart • website • outline • Learning outcomes	W2-5	WI 1017
		Gain an understanding of core economic principles and how they apply to a wide range of real-world issues. Understand the factors determining gross domestic product, employment, interest rates, the rate of inflation, and the exchange rate. Understand the political and ideological components underlying the implementation of economic policy. Analyze the determinants of the relative strengths of fiscal and monetary policy for affecting gross domestic product. Understand the role of international trade and cross-border capital movements in affecting output and employment. Become familiar with salient developments in the national and international economy. Learn how to articulate pragmatic, principles-based economic policies to enhance economic well-being and promote social justice.
	L0401		Gustavo Indart • website • outline • Learning outcomes	R2-5	RW117
		Gain an understanding of core economic principles and how they apply to a wide range of real-world issues. Understand the factors determining gross domestic product, employment, interest rates, the rate of inflation, and the exchange rate. Understand the political and ideological components underlying the implementation of economic policy. Analyze the determinants of the relative strengths of fiscal and monetary policy for affecting gross domestic product. Understand the role of international trade and cross-border capital movements in affecting output and employment. Become familiar with salient developments in the national and international economy. Learn how to articulate pragmatic, principles-based economic policies to enhance economic well-being and promote social justice.
ECO210H1S			Mathematical Methods for Economic Theory • Calendar entry
	L0101		John McNeill • outline • Learning outcomes	W10-1	GB 248
		By the end of this course, students will be able to translate economic situations into mathematical models to facilitate economic analysis. By the end of this course, students will be able to identify the appropriate mathematical tools to use in an economic research setting. By the end of this course, students will be able to apply concepts from linear algebra to solve economic problems involving systems of linear equations. By the end of this course, students will be able to select the appropriate constrained optimization tools for different economic problems, and implement those techniques to solve economic questions. By the end of this course, students will be able to explain the relationship between curvature of the objective function and the solutions of the associated optimization problems.
ECO220Y1Y			Quantitative Methods • Calendar entry
	L0101		Victor Yu • outline • Learning outcomes	M2-4,T4-6	M EM 001; T MP 102

	L0201		Jennifer Murdock • website • outline • Learning outcomes	W11-1,F9-11	W SS 2102; F KP 108
		Translate between plain English and statistical terms and concepts: identify key information regardless of wording and distinguish incorrect statements from correct ones Select and apply a suitable quantitative approach to a new situation while making your reasoning clear: may require sentences, precise statements of hypotheses, equations, calculations, fully-labeled graphs, diagrams Proficiently read output from various statistical software packages including STATA Use Excel to analyze data and replicate published results Correctly interpret quantitative results for a non-technical or technical audience Draw valid statistical conclusions and steer clear of common pitfalls Explain what would change if a researcher made different choices or the data changed Identify the underlying assumptions in quantitative analyses and figure out how violations affect conclusions and interpretations Read and critically evaluate analyses without being dazzled by data, methods or jargon Effectively apply course concepts to a wide range of contexts from popular press articles to papers in peer-reviewed academic journals Assess available data or propose a data collection plan to address a research question Craft concise, clear, and coherent written arguments that directly answer asked questions
	L0301		Jennifer Murdock • website • outline • Learning outcomes	W2-4,F9-11	W PB B250; F ES 1050

	L0401		Jennifer Murdock • website • outline • Learning outcomes	T2-4,F9-11	T MP 102; F ES 1050

	L0501		Victor Yu • outline • Learning outcomes	M11-1, T4-6	OI 2212

ECO227Y1Y			Quantitative Methods in Economics • Calendar entry
	L0101		JoonHwan Cho and Ismael Mourifié • outline • outline • Learning outcomes	R2-4, F10	SS 1071
		Introducing deep knowledge of probability theory/ statistics concepts. Building a strong basis to model uncertainty in economics and finance and then performing well in more specialized courses.
ECO230Y1Y			International Economic Institutions and Policy • Calendar entry
	L0101		Masoud Anjomshoa • outline • Learning outcomes	W12-2, F2	RW 110
		By the end of this course, learners will be able to: - Adopt and apply the theory of comparative advantage and identify the determinant factors of comparative advantage behind the trade among any given set of countries in real world, using different trade models. - Analyze the trade pattern among countries using the discussed trade models. - Analyze the impact of trade on the prices, wages, employment, income distribution, and welfare within trading partners. - Evaluate the impact of different trade policies on the trade patterns, prices, wages, employment, income distribution, and welfare within trading partners. - Adopt and apply theories of exchange rate determination, discussing impacts of monetary, fiscal, and exchange rate policies, in short and long run. - Analyze the impacts of exchange rate and foreign sector on the domestic economy, i.e. prices, employment, investment, consumption, and output and vice versa. (external balance vs. internal balance)
ECO305H1F			Economics of Accounting • Calendar entry
	L0101		Robert McKeown • outline • Learning outcomes	W10-1	SS 1087
		measure how a given transaction affects the four financial statements, contrast accounting principles under US GAAP and IFRS accounting regimes, analyze company performance under cash and accrual accounting. adjust company performance for managerial discretion such as LIFO v. FIFO. and speak the language of business! Words such as leverage, solvency, liquidity, profit margin, overhead, and their associated ratios will become familiar.
ECO305H1S			Economics of Accounting • Calendar entry
	L0101		Robert McKeown • outline • Learning outcomes	W10-1	GI
		measure how a given transaction affects the four financial statements, contrast accounting principles under US GAAP and IFRS accounting regimes, analyze company performance under cash and accrual accounting. adjust company performance for managerial discretion such as LIFO v. FIFO. and speak the language of business! Words such as leverage, solvency, liquidity, profit margin, overhead, and their associated ratios will become familiar.
ECO306H1F			American Economic History • Calendar entry
	L0101		Shari Eli • outline • Learning outcomes	R12-3	SS 1084
		1) Depth and Breadth of Knowledge (i) Using tools from econometrics and economics (ii) Learning about current debates (2) Learning New Methods (i) Introduce students to the use of econometric techniques including diff-in-diff, regression discontinuity and natural experiments and then evaluating these techniques (ii) Learning how to choose different techniques depending on the issues faced (3) Writing Skills (i) Explaining assumptions, hypotheses, evidence in essay form (4) Limitations of Research (i) Cognizance of the ways that assumptions limit the possible conclusions that can be drawn (ii) Identifying the limits of the data (iii) Determining ways to establish causation versus correlation and acknowledging when itâ€™s not possible to make causal claims
ECO310H1F			Empirical Industrial Organization • Calendar entry
	L0101		Victor Aguirregabiria • outline • Learning outcomes	M10-1	OI 2214
		Understand the main features of empirical models of demand, production function, price and quantity competition, and market entry. Know how to use market data to estimate the parameters of these empirical models, and interpret the economic implications of these estimations. Have enough programming experience using Stata and practical experience using actual market data such that the student can work in a research project in empirical IO.
ECO313H1S			Environmental Economics and Policies • Calendar entry
	L0101		Masoud Anjomshoa • outline • Learning outcomes	R2-5	WI 1016
		By the end of this course, learners will be able to: - Become familiar with the historical evolution of economic thinking and different schools of thoughts in dealing with environmental issues - Apply neoclassical approach in economic theories to analyze environmental issues, including analyzing efficiency, equity, and ethical issues in allocating environmental services and natural resources. - Design and compare varieties of economic policies in order to solve environmental problems - Analyze the impacts of uncertainty in designing and implementing environmental policies - Apply the optimal control theory in order to find the optimal and sustainable resource extraction paths for renewable resources, like forests and fisheries, as well as for non-renewable resources, like fossil fuels. - Analyze actual real world environmental policies and projects
ECO314H1F			Energy and the Environment • Calendar entry
	L0101		Adonis Yatchew • Learning outcomes	M2-5	GI George Ignatieff Theatre

ECO316H1F			Applied Game Theory • Calendar entry
	L5101		Johannes Hoelzemann • outline • Learning outcomes	M6-8, F12-1	BA 1130

ECO316H1S			Applied Game Theory • Calendar entry
	L0101		Johannes Hoelzemann • outline • Learning outcomes	M1-4	BI 131

ECO320H1F			Economic Analysis of Law • Calendar entry
	L0101		Robert Barber • outline • Learning outcomes	M11, R2-4	BL 205

ECO320H1S			Economic Analysis of Law • Calendar entry
	L0101		Robert Barber • outline • Learning outcomes	M11,R2-4	EM 001

ECO321H1F			Canadian Economic History prior to 1850 • Calendar entry
	L0101		Gillian C. Hamilton • outline • Learning outcomes	M1-4	BA 1200
		Gain a better understanding of Canadaâ€™s early economic development Gain competence in using basic economic theory to understand historical outcomes Gain competence in evaluating empirical evidence Communicate effectively â€“ both in written work and orally Gain competence in working with data & graphing in excel Gain competence in reading and summarizing academic papers succinctly
ECO322H1S			Canadian Economic History, 1850-1960 • Calendar entry
	L0101		Kieran Furlong • outline • Learning outcomes	R10-1	VC 115

ECO324H1F			Development Economics • Calendar entry
	L0101		Arthur Blouin • Learning outcomes	M2-4, F10-12	OI 5170

ECO325H1F			Advanced Economic Theory - Macro • Calendar entry
	L0101		Michelle Alexopoulos • outline • Learning outcomes	R10-1	VC 323
		Gain familiarity with basic growth models Gain a better understanding of sources of economic growth Gain familiarity with a basic business cycle model Gain a better understanding of sources of business cycles Gain competence in analyzing simple dynamic macroeconomic models
ECO325H1S			Advanced Economic Theory - Macro • Calendar entry
	L5101		Michelle Alexopoulos • Learning outcomes	R6-9	RW 140
		Gain familiarity with basic growth models Gain a better understanding of sources of economic growth Gain familiarity with a basic business cycle model Gain a better understanding of sources of business cycles Gain competence in analyzing simple dynamic macroeconomic models
ECO326H1F			Advanced Economic Theory - Micro • Calendar entry
	L5101		David Elliott Walker-Jones • outline • Learning outcomes	M6-9	SS 1087

ECO326H1S			Advanced Economic Theory - Micro • Calendar entry
	L0101		David Elliott Walker-Jones • outline • Learning outcomes	M10-1	SS 1069

ECO331H1S			Behavioural and Experimental Economics • Calendar entry
	L0101		Robert Gazzale • outline • Learning outcomes	T2-5	SS 1083
		Identify and explain key insights from behavioural economics. Identify and explain key features of a well designed human-subject experiment. Critically and carefully read and assess journal articles in the experimental economics literature using techniques covered in the course in order to assess both internal and external validity. Use extended written communication strategies to provide clear and concise descriptions, explanations and assessments of journal articles reporting the results of human-subject experiments. Communicate respectful and constructive peer-to-peer criticism, guidance and support.
	L5101		Robert Gazzale • outline • Learning outcomes	T5-8	SS 1083
		Identify and explain key insights from behavioural economics. Identify and explain key features of a well designed human-subject experiment. Critically and carefully read and assess journal articles in the experimental economics literature using techniques covered in the course in order to assess both internal and external validity. Use extended written communication strategies to provide clear and concise descriptions, explanations and assessments of journal articles reporting the results of human-subject experiments. Communicate respectful and constructive peer-to-peer criticism, guidance and support.
ECO332H1S			Economics of Family • Calendar entry
	L0101		Aloysius Siow • website • outline • Learning outcomes	RF9-11	EM 119

ECO333H1S			Urban Economics • Calendar entry
	L0101		Peter Tomlinson • outline • Learning outcomes	T6-9	LM 161

ECO334H1S			Political Economy • Calendar entry
	L0101		Yosh Halberstam • outline • Learning outcomes	R1-4	BL 205
		Model beliefs and the updating process that follows exposure to information Analyze how information is aggregated in markets, including political markets Analyze the role of media in affecting voter beliefs and subsequent behaviour Identify the political economy of media and associated incentives to influence media markets Evaluate evidence on media and political outcomes with respect to causal inference
ECO336H1F			Public Economics • Calendar entry
	L0101		Michael Smart • outline • Learning outcomes	T1-3, R12	T WW 119; R CR 403

ECO337H1F			Public Economics (for Commerce) • Calendar entry
	L0101		Michael Smart • outline • Learning outcomes	T10-12, R1	SS 1071

ECO338H1F			Economics of Careers • Calendar entry
	L0101		Aloysius Siow • Learning outcomes	T9-11, F11-1	SS 1074

ECO339H1F			Labour Economics: Employment, Wages, and Public Policy • Calendar entry
	L0101		Elizabeth Dhuey • outline • Learning outcomes	T10-12, F10	MP 137
		Command of microeconomic theory as it applies to labour supply, labour demand and labour market equilibrium Skills necessary to interpret empirical evidence of labour market behaviour Skills to apply the economic models of labour supply and labour demand to policy issues such as social assistance and minimum wages Knowledge of basic descriptive statistics of labour supply and demand in the Canadian labour market and their values in comparison to those in other countries
ECO340H1S			Labour Economics: The Distribution of Earnings • Calendar entry
	L0101		Dwayne Benjamin • outline • Learning outcomes	T10-12, F12	MP 134
		The primary objective of the course is to introduce students to the main tools employed by labour economists to understand a variety of labour market outcomes pertaining to differences in wages and earnings across individuals or groups. More precisely, students should expect to: Gain an understanding of the primary microeconomic models used by economists to analyze the wage and earnings distribution in labour markets; Gain an understanding of first-order empirical features of the Canadian labour market, as well as key dimensions of the relevant public policy implications and interventions; Learn to apply microeconomic models to questions pertaining to labour market outcomes; Learn to apply econometric/statistical methods to describe, summarize, and estimate relationships between key labour market variables. This includes a critical understanding of the limits to attributing causality between these variables; Learn how to use primary sources of labour market data, including Statistics Canada's Labour Force Survey; Communicate effectively, especially in written work.
ECO341H1F			The Eonomic History of the 20th Century: Trade, Migration, Money and Finance before 1945 • Calendar entry
	L0101		Jon S. Cohen • outline • Learning outcomes	T10-12, W1	T SS 1085; W LM 158
		Gain an understanding of economic growth and fluctuations in Europe and North America between roughly 1870 and 1941. Gain an ability to use basic theoretical concepts to elucidate historical events. Gain an ability to draw on historical precedents to inform current economic debates. Gain an ability to evaluate empirical evidence. Develop an ability to conduct empirical research and to write up the results in a clear, concise, and coherent manner. Gain an ability to read, understand, and synthesize academic articles.
ECO342H1S			Twentieth Century Economic History: Institutions, Growth and Inequality • Calendar entry
	L0101		Kieran Furlong • outline • Learning outcomes	T10-1	EM 001

ECO349H1F			Money, Banking, and Financial Markets • Calendar entry
	L0101		Burhanettin Kuruscu • outline • Learning outcomes	W4-7	RW 110

ECO349H1S			Money, Banking, and Financial Markets • Calendar entry
	L0101		Burhanettin Kuruscu • Learning outcomes	W4-7	RW 117

	L0201		Burhanettin Kuruscu • Learning outcomes	T3-6	WI 1016

ECO358H1F			Financial Economics I • Calendar entry
	L0101		Robert McKeown • outline • Learning outcomes	T2-5	WI 1016
		analyze portfolio decisions made by investors, identify short-comings in theory and practice. derive models to price assets and derivatives analyze asset class (equity, bonds, etc.) risks and returns,
	L0201		Robert McKeown • outline • Learning outcomes	W2-5	BL 205
		analyze portfolio decisions made by investors, identify short-comings in theory and practice. derive models to price assets and derivatives analyze asset class (equity, bonds, etc.) risks and returns,
	L0301		Robert McKeown • outline • Learning outcomes	M3-6	LM 162
		analyze portfolio decisions made by investors, identify short-comings in theory and practice. derive models to price assets and derivatives analyze asset class (equity, bonds, etc.) risks and returns,
	L5101		Robert McKeown • outline • Learning outcomes	T5-8	WI 1016
		analyze portfolio decisions made by investors, identify short-comings in theory and practice. derive models to price assets and derivatives analyze asset class (equity, bonds, etc.) risks and returns,
ECO359H1S			Financial Economics II • Calendar entry
	L0101		Robert McKeown • Learning outcomes	T2-5	EM 001

	L0201		Robert McKeown • outline • Learning outcomes	W2-5	OI 2212

ECO364H1F			International Trade • Calendar entry
	L0101		Kevin Lim • outline • Learning outcomes	R10-1	KP 108
		Develop an understanding of the fundamental economic logic behind the gains from trade. Develop an understanding of the concept of comparative advantage, the determinants of comparative advantage, and how comparative advantage shapes trade patterns. Become familiar with the basic insights and predictions of the main neoclassical models of international trade (the Ricardian, Specific Factors, and Heckscher-Ohlin models). Develop an understanding of how international trade matters for product variety and offshoring. Develop an understanding of the incentives for trade regulation, the potential costs of escalating trade wars, and the role of international trade organizations.
	L0201		Kevin Lim • outline • Learning outcomes	R2-5	PB B250
		Develop an understanding of the fundamental economic logic behind the gains from trade. Develop an understanding of the concept of comparative advantage, the determinants of comparative advantage, and how comparative advantage shapes trade patterns. Become familiar with the basic insights and predictions of the main neoclassical models of international trade (the Ricardian, Specific Factors, and Heckscher-Ohlin models). Develop an understanding of how international trade matters for product variety and offshoring. Develop an understanding of the incentives for trade regulation, the potential costs of escalating trade wars, and the role of international trade organizations.
	L0301		Kunal Dasgupta • outline • Learning outcomes	M11-1, F2-3	VC 323
		By the end of this course, students should know how international trade patterns are determined. By the end of the course, students should understand how international trade affects returns to factors of production. By the end of the course, students should be able to evaluate the welfare effects of various trade policies.
ECO364H1S			International Trade • Calendar entry
	L0101		Peter Morrow • outline • Learning outcomes	R10-1	KP 108

	L5101		Palermo Penano • outline • Learning outcomes	T6-9	SS 2135

ECO365H1F			International Monetary Economics • Calendar entry
	L0101		Kunal Dasgupta • outline • Learning outcomes	T12-2, F12-1	AH 400
		By the end of this course, students should know the importance of exchange rates in a modern economy. By the end of the course, students should understand how exchange rates are determined. By the end of the course, students should be able to evaluate the efficacy of various policies under different exchange rate regimes. By the end of the course, students should be able to analyze how shocks in a country affect macroeconomic variables in other countries.
	L5101		Michael Ho • outline • Learning outcomes	T6-9	SS 2118

	L5201		Michael Ho • outline • Learning outcomes	W6-9	SS 2102

ECO365H1S			International Monetary Economics • Calendar entry
	L0101		Jordi Mondria • outline • Learning outcomes	T10-1	KP 108

	L0201		Jordi Mondria • outline • Learning outcomes	T2-5	SS 2102

ECO372H1F			Applied Regression Analysis and Empirical Papers • Calendar entry
	L0101		Patrick Blanchenay • outline • Learning outcomes	W2-5	EM 001

ECO372H1S			Applied Regression Analysis and Empirical Papers • Calendar entry
	L0101		Patrick Blanchenay • outline • Learning outcomes	W10-1	SS1085

ECO374H1S			Forecasting and Time Series Econometrics • Calendar entry
	L0101		Martin Burda • outline • Learning outcomes	M10-12, F10	SS 1083
		Gain intuition about econometric forecasting methods for time series data Interpret forecasting results Use econometric software to analyze data
	L0201		Martin Burda • outline • Learning outcomes	M1-3,F10	MS 4171
		Gain intuition about econometric forecasting methods for time series data Interpret forecasting results Use econometric software to analyze data
ECO375H1F			Applied Econometrics I • Calendar entry
	L0101		Jonathan P. Beauchamp • outline • Learning outcomes	R9-11, F11-1	R SS 1069; F KP108
		Specify multiple regression models to gain insight into economic questions and interpret results from the estimation of such models Understand and mathematically prove the main properties of OLS estimators (including unbiasedness and consistency) and appreciate conditions (e.g., omitted variables) that may lead to failure of these properties Apply instrumental variables and two-stage least squares estimation, understand the conditions for valid instruments, and use instrumental variables to estimate simultaneous equations models Use econometric software to analyze real data in regression analysis Use matrix algebra in analyzing theoretical properties of regression analysis
	L0201		Jonathan P. Beauchamp • outline • Learning outcomes	R1-3, F11-1	R MP 202, F KP 108
		Specify multiple regression models to gain insight into economic questions and interpret results from the estimation of such models Understand and mathematically prove the main properties of OLS estimators (including unbiasedness and consistency) and appreciate conditions (e.g., omitted variables) that may lead to failure of these properties Apply instrumental variables and two-stage least squares estimation, understand the conditions for valid instruments, and use instrumental variables to estimate simultaneous equations models Use econometric software to analyze real data in regression analysis Use matrix algebra in analyzing theoretical properties of regression analysis
ECO380H1F			Markets, Competition, and Strategy • Calendar entry
	L0101		John McNeill • outline • Learning outcomes	W10-1	KP108
		By the end of this course, students will be able to analyze the role of different market structures in shaping equilibrium market outcomes. By the end of this course, students will be able to utilize mathematical methods to evaluate the impact of changing the assumptions of an economic model. By the end of this course, students will be able to explain the motivation for and mathematically model anticompetitive behavior and modern competition policy. By the end of this course, students will be able to describe how market design can be used to solve coordination problems in matching markets and apply theoretical results to specific applications By the end of this course, students will be able to identify situations in which non-standard consumer behavior incentivizes firms to strategically exploit boundedly rational consumers.
	L0201		John McNeill • outline • Learning outcomes	W2-5	SS 2118
		By the end of this course, students will be able to analyze the role of different market structures in shaping equilibrium market outcomes. By the end of this course, students will be able to utilize mathematical methods to evaluate the impact of changing the assumptions of an economic model. By the end of this course, students will be able to explain the motivation for and mathematically model anticompetitive behavior and modern competition policy. By the end of this course, students will be able to describe how market design can be used to solve coordination problems in matching markets and apply theoretical results to specific applications By the end of this course, students will be able to identify situations in which non-standard consumer behavior incentivizes firms to strategically exploit boundedly rational consumers.
ECO380H1S			Markets, Competition, and Strategy • Calendar entry
	L0101		John McNeill • outline • Learning outcomes	W2-5	MP 202
		By the end of this course, students will be able to analyze the role of different market structures in shaping equilibrium market outcomes. By the end of this course, students will be able to utilize mathematical methods to evaluate the impact of changing the assumptions of an economic model. By the end of this course, students will be able to explain the motivation for and mathematically model anticompetitive behavior and modern competition policy. By the end of this course, students will be able to describe how market design can be used to solve coordination problems in matching markets and apply theoretical results to specific applications By the end of this course, students will be able to identify situations in which non-standard consumer behavior incentivizes firms to strategically exploit boundedly rational consumers.
ECO381H1F			Personnel Economics • Calendar entry
	L0101		Jasmin Kantarevic • Learning outcomes	T5-8	EM001

ECO401H1S			Topics in Economic Policy • Calendar entry
	L0101		Kory Kroft • outline • Learning outcomes	M10-12, F1	SK 720

ECO402H1S			Topics in Health Economics • Calendar entry
	L0101		No instructors assigned • Learning outcomes	R1-3

ECO403H1F			Topics in Development Economics and Policy • Calendar entry
	L0101		Arthur Blouin • Learning outcomes	T10-12, R10	OI 5160

ECO404H1F			Topics in Managerial Economics • Calendar entry
	L5101		Ajaz Hussain • website • outline • Learning outcomes	W5-8	RL 14190
		By the end of this course, students will be able to analyze, identify, formulate, articulate, and present a structured solution to the salient issue(s) in real life business-economics cases. By the end of this course, students will be able to formulate appropriate econometric models to investigate particular business-economics hypotheses. By the end of this course, students will be able to build models involving Monte-Carlo simulation, Optimization, and advanced Econometric methods. By the end of this course, students will be able to work cooperatively in a small group environment. By the end of this course, students will be able to compose professional level presentations, quantitative models, and business reports.
ECO404H1S			Topics in Managerial Economics • Calendar entry
	L5101		Ajaz Hussain • website • outline • Learning outcomes	W5-8	BA B024
		By the end of this course, students will be able to analyze, identify, formulate, articulate, and present a structured solution to the salient issue(s) in real life business-economics cases. By the end of this course, students will be able to formulate appropriate econometric models to investigate particular business-economics hypotheses. By the end of this course, students will be able to build models involving Monte-Carlo simulation, Optimization, and advanced Econometric methods. By the end of this course, students will be able to work cooperatively in a small group environment. By the end of this course, students will be able to compose professional level presentations, quantitative models, and business reports.
ECO406H1S			Developmental Macroeconomics • Calendar entry
	L0101		Gustavo Indart • outline • Learning outcomes	R10-1	RW 143
		Integrate the study of macroeconomics and development economics by focusing on both the stability of economic systems and the long-term process of economic growth. Construct a theoretical and policy framework applicable to both middle-income developing countries and resource-rich developed countries. Recognize the exchange rate as the key macroeconomic variable in the determination not only of exports and imports, but also of the investment rate, the saving rate, and the inflation rate. Examine the causes of observed cyclical overvaluation of the exchange rate in this group of countries, particularly Dutch disease and excessive reliance on external savings.
ECO407H1F			Competing Views in Macroeconomic Theory and Policy • Calendar entry
	L0101		Gustavo Indart • website • outline • Learning outcomes	R10-1	LM 158
		Recognize and appreciate the diversity of theoretical views expressed to analyze real world macroeconomic problems. Identify the differences between orthodox and heterodox macroeconomic approaches, including the ideological and political implications of each approach. Evaluate the role played by assumptions in arguments that reach different conclusions to specific economic or policy problems. Employ economic theory to analyze current socio-economic problems, and evaluate alternative public policy choices. Formulate well-organized written arguments based on a well-defined theoretical framework, stating assumptions and hypotheses supported by evidence.
ECO414H1S			Energy and Regulation • Calendar entry
	L0101		Adonis Yatchew • outline • Learning outcomes	M2-5	SK 548

ECO418H1F			Empirical Applications of Economic Theory • Calendar entry
	L0101		Yao Luo • outline • Learning outcomes	T4-7	TF 102
		Use STATA to manipulate and explore data sets; interpreting and reporting regression results Apply discrete choice model to study consumer demand and strategic behavior of firms Apply economic theory to evaluate firm efficiency, estimate auction models and conduct counterfactual experiments Articulate a well-formed research question in an oligopolistic market and an appropriate resolution to it Use extended oral and written communication strategies to provide clear descriptions and explanations of empirical findings
ECO419H1F			International Macroeconomics • Calendar entry
	L0101		Joseph Steinberg • outline • Learning outcomes	W2-5	SK 702
		Recognize key facts about which countries have borrowed and lent from one another Identify the determinants of international borrowing and lending Identify the sources of exchange rate fluctuations Translate real-world situations into the mathematical language of macroeconomic theory Analyze equilibrium outcomes numerically, algebraically, and graphically
ECO422H1F			Special Topics in Economics, Topics in Business Economics • Calendar entry
	L0101		Karen Bernhardt-Walther • outline • Learning outcomes	M11-2	WO 20
		Recognize organizational choices in real-world examples Apply organizational economic models to analyze these choices, to explain behavior of and dynamics within organizations Understand the economic relevance of â€œsecond best outcomes,â€ derive a second best outcome mathematically, and give real-world examples Professionally and concisely communicate insights of applied theory papers and their real-world relevance, formally and informally, orally and in writing
ECO422H1S			Special Topics in Economics, Topics in Behavioural Economics • Calendar entry
	L5101		Yoram Halevy • outline • Learning outcomes	T9-11, M5-7 Note: M5-7 (tutorial)	OI2214

ECO423H1S			Economics and Biosocial Data • Calendar entry
	L0101		Jonathan P. Beauchamp • outline • Learning outcomes	F9-12	LA 214

ECO428H1F			Classical Economic Thought • Calendar entry
	L0101		Kieran Furlong • outline • Learning outcomes	W9-12	GB 221

ECO429H1S			Economic Thought after 1870 • Calendar entry
	L0101		Kieran Furlong • outline • Learning outcomes	W9-12	SS 1073

ECO435H1F			Economic Development of China • Calendar entry
	L0101		Loren Brandt • outline • Learning outcomes	T2-5	SK 720

ECO439H1S			Empirical Methods in Microeconomics • Calendar entry
	L0101		Arthur Blouin • outline • Learning outcomes	T3-5, R3	TF 202

ECO446H1S			Advanced Public Economics • Calendar entry
	L0101		Michael Smart • outline • Learning outcomes	T1-3	SF 2202

ECO459H1F			International Trade Regulation (note: ECO3504H is NOT open to non-Economics graduate students) • Calendar entry
	L0101		Michael Trebilcock • Learning outcomes	T2-4	J130

ECO461H1S			Economics of Risk Management • Calendar entry
	L0101		No instructors assigned • Learning outcomes	T9-12	WI 1017

ECO462H1F			Financial Econometrics • Calendar entry
	L0101		Christian Gourieroux • outline • Learning outcomes	R11-1	UC 52

ENV462H1S			Energy and Environment: Economics, Politics, and Sustainability
	L0101		No instructors assigned • Learning outcomes	T2-4	GB404

ECO464H1S			Empirical Financial Economics • Calendar entry
	L5101		Peter Cziraki • outline • Learning outcomes	T6-9	WO 30

ECO466H1F			Empirical Macroeconomics and Policy • Calendar entry
	L0101		Serdar Ozkan and Martin Burda • outline • Learning outcomes	TR10-12	KP 113
		Characterize concepts of time series dependence (covariance stationarity, weak dependence) Use sample autocorrelation function in statistical software for empirical assessment of dependence in real-world time series data Analyze theoretical properties of the multivariate vector autoregressive process (VAR) model Use the VAR model for forecasting of Canadian and U.S. macroeconomic variables in Stata or R Analyze a Real Business Cycle model with uncertainty in the context of the Canadian economy Research and present monetary policy recommendations for the Bank of Canada
ECO475H1S			Applied Econometrics II • Calendar entry
	L0101		Ismael Mourifié • outline • Learning outcomes	R10-12, F11	SS 2106
		Learn recent econometrics methods useful for applied researchers. Develop enough technical skills to be able to read and understand method-based econometrics textbooks/papers. Learn how to interpret econometric assumptions. Explore an interesting economic question. Learn how to use econometric tools to answer this question. Data gathering, uploading, cleaning. Learn how to use Stata, read and interprets Stata results.
ECO499H1Y			Honours Essay in Applied Microeconomics • Calendar entry
	L0101		Aloysius Siow • Learning outcomes	R2-5	OI 7192

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Courses offered Winter 2018–2019