University of Toronto at Scarborough 2001/2002 Calendar
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Economics for Management Studies

(B.B.A., B.A.)

Faculty List

M. Krashinsky, S.B. (M.I.T.), M. Phil., Ph.D. (Yale), Professor
D. Hyatt, B.A., M.A., Ph.D. (Toronto), Associate Professor
I.C. Parker, B.A. (Manitoba), M.A. (Toronto), Ph.D. (Yale), Associate Professor
M. Campolieti, B.Sc., M.A., Ph.D. (Toronto), Assistant Professor
G. Cleveland, B.A. (Dalhousie), M.A., Ph.D. (Toronto), Assistant Professor
W. Hejazi, B.A. (Western Ontario), M.A., Ph.D. (Toronto), Assistant Professor
J. Parkinson, B.A. (Western Ontario), M.A., Ph.D. (Toronto), Assistant Professor

Economics studies how consumers and producers interact in a market economy to provide goods and services. Economics also studies how this process grows and changes over time, and under what circumstances it may fail to function in an optimal fashion. Economic policies to remedy those failures are also examined.

In the Division of Management, the study of economics is oriented primarily to the needs of students interested in management studies. Thus many of our examples will focus on the ways in which firms and consumers in market economies interact. However, students interested in the wide variety of problems considered by economists will find those matters are also addressed in our courses.

The curriculum provides an excellent background for careers in business, government, and the professions, and may be of considerable interest to students specializing in other disciplines as well. Students may focus their study of economics in the specialist co-op Program as part of the B.B.A., or may either major or minor in economics as part of the B.A. degree. Students may also choose economics as a stream in the B.B.A. Program. There is also a joint specialist Program with political science. Finally, economics plays a significant role within the general B.B.A. Program.

Students wishing to pursue a graduate program in Economics will require some additional courses in Economic Theory not offered at Scarborough. Such students should consult with the Undergraduate Secretary of the Department of Economics at the St. George campus, or the graduate secretary of the Department of Economics where they intend to do further work to determine what additional courses would be required to do graduate work in this field. The Supervisor of Studies at Scarborough can help you with this task.

Programs in Economics for Management Studies

Students generally apply to enter a program at the end of their first year. Later admission is also possible. Students should consult the detailed discussion below. The following Programs are offered:

  1. Specialist (Co-op) in Economic Policy Management and Data Analysis - a specialist degree with a strong emphasis on applied courses dealing with the economic policy process, and including Co-op work terms. This Program is consistent with a twenty-course degree (B.B.A.) described in detail below.
  2. Specialist in Political Science & Economics for Management Studies - a specialist degree with equal amounts of Economics and Political Science (six courses each), consistent with a twenty-course degree (B.A.). Described in detail below.
  3. Major in Economics for Management Studies- program of six full courses of Economics for Management Studies, one-half course in Mathematics and one of Humanities, consistent with either a fifteen-course or a twenty-course degree (B.A.). Described in detail below.
  4. Minor in Economics for Management Studies - program of four full courses of Economics for Management Studies, consistent with either a fifteen-course or a twenty-course degree (B.A.). Described in detail below.

Other Programs with a substantial component of Economics for Management Studies

  1. Specialist in Management (B.B.A.) - a program emphasizing Management but including four full courses in Economics for Management Studies, leading to a B.B.A. degree. Students may elect to take additional specified courses in Economics for Management Studies to qualify for designation within the Economic Data Analysis stream. Described in detail in the Management section of the Calendar.
  2. Specialist (Co-op) in Management (B.B.A.) - same as #5 above, but also includes Co-op work terms.
  3. Specialist or Major in International Development Studies or Major in Public Policy Programs in the Social Sciences within which students may choose to include a significant component from Economics for Management Studies. Described in detail elsewhere in the Calendar.

Admission to Programs in Economics for Management Studies and in Management

  1. All students, even those who have been directly admitted into the Division from high school (and who are guaranteed admission into programs in the Division), must formally apply to specific programs after four courses have been completed. Decisions are made on program admissions by the Supervisor of Studies only twice a year, in May and in August. These decisions are based on program requests which students submit to the Registrar (see winter pre-registration instructions which are provided at that time by the Registrar). Only transfer students are considered at other times. Students should have ten credits or less when they seek admission to programs in the Division of Management.
  2. Those students directly admitted into the Division from high school are guaranteed entry into a program in the Division (only a limited number of students not directly admitted in Co-op Programs will be accepted into Co-op programs after first year). Directly admitted students must maintain a G.P.A. of 2.0 or greater after completing eight credits in order to remain in these programs.
  3. Admission to the Minor Program in Economics for Management Studies is not limited. All students who apply for this program will be admitted. However, students are warned that they are not guaranteed admission to B-level and C-level courses, and thus will be accommodated only after other program students have been admitted to these courses. Thus some courses may be unavailable, or available only in the summer.
  4. Even students who are not admitted to the Major in Economics for Management Studies may be able to graduate in this program. In order to do this, non-program students must complete all program requirements and must apply to the Registrar's Office to be certified in the program at the time of graduation. Non-program students are warned that they will be admitted to B-level and C-level courses only after program students have been admitted to these courses, and that some courses may thus be unavailable, or available only in the summer. Note also that the Supervisor of Studies will not approve any program exceptions for non-program students.

Economics for Management Studies Courses with Limited Enrolment

Students who have been admitted to all the Specialist and Major programs listed above are guaranteed access to enough courses in Economics for Management Studies to complete their programs. To protect that access, students must register early in the registration process. After a period during which program students are given priority, access to all remaining spaces in Economics for Management courses will be opened to all students in the University on a first-come, first-served basis. In some years, students not admitted to Programs may find it difficult or impossible to obtain any specific course in Economics for Management Studies.

THE CO-OPERATIVE PROGRAM IN ECONOMIC POLICY MANAGEMENT AND DATA ANALYSIS

Supervisor: G. Georgopoulos (416-287-7335)
E-mail: georgop@scar.utoronto.ca

REGISTRATION IN THIS PROGRAM WILL BEGIN IN APRIL/MAY 2002

The co-operative program in Economic Policy Management and Data Analysis - B.B.A. (EPMDA) is a work-study program which combines academic studies with work experience in public and private enterprises. EPMDA is designed to allow students to learn practical skills of data analysis and to combine them with the interpretive skills given by knowledge of economic theory. Work terms and courses will allow students to act as junior apprentices to professional economists.

Admission to the Program

Students who have been admitted directly from high school to a Co-operative Program in the Management Division may apply for the Co-op Program in EPMDA after completing between four and six full-course equivalents, including ECMA02Y and MGTA02Y. Other students may apply to this program at the end of the first year and will be evaluated on the basis of grades including ECMA02Y and MGTA02Y.

Program Requirements

The Co-operative Program in Economic Policy Management and Data Analysis requires the completion of the following minimum requirements as part of a twenty-course degree (B.B.A.).

  1. 8.5 F.C.E.'s in Economics for Management Studies, including ECMA02Y, ECMB02H, ECMB06H, ECMB11H, ECMB12H, ECMB13H, ECMB35H or ECMB36H, ECMC02H, ECMC06H, ECMC09H, ECMC10H, ECMC90H and 2 additional C-level F.C.E.'s in Economics for Management Studies.
  2. MATA27H and CSCA02H.
  3. MGTA02Y, MGTB03H, MGTB05H, MGTB06H, MGTB23H, MGTB24H, MGTB29H, MGTC03H, MGTC74H and 0.5 F.C.E. from the strategic management options as described in the B.B.A. Program in the Management section of the Calendar.
  4. At least 1.0 F.C.E. from courses within the Division of Humanities.

Students should be aware that the mathematics requirement implies that OAC Calculus is a prerequisite for entry to this Program.

Work Terms

This program requires three work terms, the first one of which may be combined with course work. While some students will work at regular co-op placements arranged through the B.B.A. co-op office, a select group of students in this program may obtain placements working with faculty in the Division of Management during the 2nd year of courses. There will be two further work terms, outside the University, on a full-time basis. These will normally be scheduled during the summer. Work terms are arranged and scheduled by the Co-operative Programs Co-ordinator but must be won by students in competition with Co-op students from this and other universities. Work terms will generally be placements with professional economists working for financial institutions, government organizations, or elsewhere. Students must maintain a 3.0 G.P.A. in order to go out on these work terms. Course credit of 0.5 full-course equivalents is granted for successfully completing both work and reporting requirements of a work term. Work term credits are graded as Pass/Fail and are in addition to the 20 course requirement for the degree.

Fees

Students will pay Co-operative Program fees as established by the Management Co-op Program.

Recommended Schedule of Courses

Students in, or intending to enter, the Co-op Program in EPMDA are advised to take the following courses in their first calendar year:

First Year: ECMA02Y, MGTA02Y, MGTB05H, MGTB06H, MATA27H, CSCA02H.

First Summer: ECMB02H, ECMB06H, ECMB11H, ECMB12H.

SPECIALIST PROGRAM IN POLITICAL SCIENCE AND ECONOMICS FOR MANAGEMENT STUDIES

Supervisor: G. Georgopoulos (416-287-7335)
E-mail: georgop@scar.utoronto.ca

NOTE: Registration in this Program is limited.

Students must have completed a minimum of four courses to be considered for this Program. Students with 4-6 course credits will be considered on the basis of G.P.A. including ECMA02Y/ECMA03Y. Students with 7-10 course credits will be considered on the basis of G.P.A. including ECMA02Y/ECMA03Y.

Six full-course equivalents are required in each of the two disciplines, as specified below. Students must also complete at least four full-course equivalents in disciplines other than Political Science & Economics for Management Studies.
Required Courses in Economics for Management Studies
Six full-course equivalents, made up of the following:
ECMA02Y or ECMA03Y
ECMB01H or ECMB02H
ECMB05H or ECMB06H
ECMC31H and ECMC32H
ECMB35H or ECMB36H or ECMC66H or ECMC68H
ECMC27H or ECMC80H
Two more F.C.E.'s in ECM, including at least one at the C-level.

Required Courses in Political Science
Six full-course equivalents, including the following:
POLA51H or POLB50Y
POLB70Y

One F.C.E. from each of any three of the following fields:

  1. Canadian Government: POLB50Y, POLC52Y, POLC53Y, POLC54Y, POLC65Y, POLD50H, POLD51H
  2. Public Administration and Public Policy: POLC53Y, POLC65Y (POLB60), POLD50H, POLD60H (POLC60), POLD61H, POLD64H
  3. International Relations: POLA80H, POLB80Y, POLC82Y, POLC84Y, POLC88Y
  4. Comparative Politics, Industrial Countries: POLA81H, POLB87Y, POLB92Y, POLC86Y, POLD51H, POLD62H, POLD64H
  5. Comparative Politics, Developing Countries: POLA90H, POLB91Y, POLC96Y, POLC98H, POLD94H

NOTE: No more than two courses at the A-level may be counted toward program requirements. If POLB50Y is used to satisfy the first requirement (POLA51 or POLB50) above, then it may not also be used to satisfy the Canadian Government field requirement.

MAJOR PROGRAM IN ECONOMICS FOR MANAGEMENT STUDIES

Supervisor: G. Georgopoulos (416-287-7335)
E-mail: georgop@scar.utoronto.ca

NOTE: Registration in this Program is limited.

Students must have completed a minimum of four courses to be considered for this program. Students with 4-6 course credits will be considered on the basis of GPA including ECMA02Y/ECMA03Y (ECOA02Y/ECOA03Y). Students with 7-10 course credits will be considered on the basis of G.P.A. including ECMA02Y/ECMA03Y (ECOA02Y/ECOA03Y) and one of MATA27H, ECMB02H and ECMB06H. Students should be aware that the MAT requirement implies that OAC calculus is a requirement for entry into this program.

This Program is designed to give a coordinated exposure to the subject matter of Economics for Management Studies to students pursuing the three-year degree or to those pursuing the four-year degree with more than a single area of concentration.

The Program consists of six full-course equivalents in Economics for Management Studies, one-half course in Mathematics, and one full-course in Humanities. The Economics courses must include:
ECMA02Y
ECMB02H & ECMB06H
ECMB11H & ECMB12H
ECMC02H & ECMC06H
and two full-course equivalents chosen from the courses in Economics for Management Studies including at least one at the C-level. Students must also complete MATA27H and one F.C.E. in Humanities.

Students who take ECMA03Y and then decide to apply for this program will be permitted to substitute ECMA03Y for ECMA02Y. However, these students will be required to complete MATA27H before registering for ECMB02H and ECMB06H.

MINOR PROGRAM IN ECONOMICS FOR MANAGEMENT STUDIES

Supervisor: G. Georgopoulos (416-287-7335)
E-mail: georgop@scar.utoronto.ca

NOTE: Registration in this program is not limited. However, some requirements, particularly those at the B-level, may have to be taken in the summer session since access to courses in the winter session cannot be guaranteed.

This program is designed to give exposure to the subject matter in some areas of Economics to students pursuing three or four year degrees. These students will have to combine this minor with other minors or majors in order to graduate. Students need not have completed OAC calculus in order to enter this program.

The program consists of four full-course equivalents in Economics for Management Studies as follows:
ECMA02Y (ECOA02Y) or ECMA03Y (ECOA03Y),
ECMB01H or ECMB02H
ECMB05H or ECMB06H
Two more F.C.E.'s in Economics for Management Studies, including at least one at the C-level.

ECMA02Y3 Introduction to Economics: A Mathematical Approach

A study of economic theory and its application to contemporary Canadian economic problems. Problems discussed include: unemployment, inflation, competition, monopoly. Calculus, algebra and graphs are used extensively in this course to illuminate economic analysis. The course is oriented primarily towards students planning to complete the Specialist Program in Management, the Specialist Program in Economic Policy Management and Data Analysis, and the Major Program in Economics for Management Studies.

Three hours of lecture per week and a one hour tutorial per week.

Exclusions: ECMA03Y (ECOA03Y); ECO100

Prerequisite: OAC Calculus

Corequisite: MATA27H

ECMA03Y3 Introduction to Economics

A study of economic theory and its application to contemporary Canadian economic problems. Problems discussed will include: unemployment, inflation, competition, monopoly. Although calculus is not used in this course, algebra and graphs are used extensively to illuminate economic analysis.

This course is oriented primarily toward students planning to complete the Specialist Program in Political Science and Economics for Management Studies, the Minor Program in Economics for Management Studies, and programs for IDS. The course will also be useful to non-program students interested in an elective course in this subject.

Three hours of lecture per week and a one hour tutorial per week.

Exclusions: ECMA02Y (ECOA02Y); ECO100

IDSB01H3 Political Economy of International Development

Introduction to major development problems, focusing on international economic and political economy factors.

The course examines, trade, aid, international institutions such as World Bank and the IMF, the GATT/WTO, and how these affect developing countries. The course examines both conventional economic perspectives as well as critiques of these perspectives. Some country case studies may be used to illustrate different approaches to development.

Exclusion: ECO230Y

Prerequisites: ECMA02Y (ECOA02Y) or ECMA03Y (ECOA03Y)

ECMB01H3 Price Theory

Intermediate level development of the principles of microeconomic theory. The emphasis is on static partial equilibrium analysis. Topics covered include: consumer theory, theory of production, theory of the firm, perfect competition.

Limited enrolment: 80 per section.

Exclusions: (ECMB03), (ECMB04), ECO200, ECO206, ECMB02

Prerequisites: ECMA02Y (ECOA02Y) or ECMA03Y (ECOA03Y)

ECMB02H3 Price Theory: A Mathematical Approach

Intermediate level development of the principles of microeconomic theory. The course will cover the same topics as ECMB01H, but will employ techniques involving calculus so as to make the theory clearer to students.

Limited enrolment: 80 per section.

Exclusions: (ECMB03), (ECMB04), ECO200, ECO206, ECMB01

Prerequisites: ECMA02Y (ECOA02Y); students who have completed ECMA03Y (ECOA03Y) may be admitted with the permission of the supervisor of studies and must complete MATA27H as a further prerequisite.

ECMB05H3 Macroeconomic Theory and Policy

Intermediate level development of the principles of macroeconomic theory. Topics covered include: theory of output, employment and the price level.

Limited enrolment: 80 per section

Exclusions: (ECMB07), (ECMB08), ECO202, ECO208, ECMB06

Prerequisites: ECMA02Y (ECOA02Y) or ECMA03Y (ECOA03Y)

ECMB06H3 Macroeconomic Theory and Policy: A Mathematical Approach

Intermediate level development of the principles of macroeconomic theory. The course will cover the same topics as ECMB05H, but will employ techniques involving calculus so as to make the theory clearer to students.

Limited enrolment: 80 per section

Exclusions: (ECMB07), (ECMB08), ECO202, ECO208, ECMB05

Prerequisites: ECMA02Y; students who have completed ECMA03Y may be admitted with permission of the supervisor of studies and must complete MATA27H as a further prerequisite.

MGTB10H3 Quantitative Methods in Management

An introduction to statistics and regression analysis as used in economic analysis. The course will cover material similar to ECMB09 (ECOB09) but in somewhat less depth. Topics to be covered include: summary statistics, special probability distributions (normal, binomial), confidence intervals, hypothesis testing (parametric), and simple and multiple regression. There will be a number of computer assignments.

Limited enrolment: 80 per section.

Exclusions: ANTC35H (ANTB43); (ECMB09Y), (ECOB09Y); ECMB11H, ECMB12H, GGRB31H; PSYB07H; SOCB06H; STAB22H

Prerequisites: ECMA02Y or ECMA03Y (ECOA02Y or ECOA03Y)

ECMB11H3 Quantitative Methods in Economics I

An introduction to probability and statistics as used in economic analysis. Topics to be covered include: descriptive statistics, probability, special probability distributions, sampling theory, confidence intervals.

Limited enrolment: 80 per section

Exclusions: (ECMB09Y); ANTC35H (ANTB43H) or MGTB10H, or ECO220 or ECO227 or GGRB31H or PSYB07H or SOCB06H or STAB22H or STAB47H

Prerequisites: ECMA02Y; students who have completed ECMA03Y (ECOA03Y) may be admitted with permission of the supervisor of studies.

ECMB12H3 Quantitative Methods in Economics II

A second course in probability and statistics as used in economic analysis. Topics to be covered include: confidence intervals, hypothesis testing, simple and multiple regression.

Limited enrolment: 80 per section

Exclusions: (ECMB09Y); ANTC35H (ANTB43H) or MGTB10H, or ECO220 & ECO227 or GGRB31H or PSYB07H or SOCB06H or STAC67H

Prerequisite: ECMB11H or STAB47H

ECMB13H3 Applied Data Analysis

Development of the knowledge and skills necessary to analyze economic data. The course will focus on obtaining and analyzing economic data using alternative software packages such as SAS and EXCEL. An understanding of matrices and matrix operations will be developed. Students will further develop their understanding of several important mathematical and statistical concepts such as descriptive statistics, correlation, and regression. The course will consist of a combination of classroom lectures and hands on tutorial sessions. Students will be required to submit a major report that involves the analysis of data.

Limited enrolment: 60

Prerequisite: ECMB11H & MATA27H

Co-requisite: ECMB12H

GGRB27H3 Location and Spatial Development

Application of competitive location theory to explain economic landscapes. Topics include Ricardian rents and spatial equilibrium, trade flows and spatial price equilibrium, geographic market areas and spatial pricing policies, location of a firm with mobile resources, and trade theory and regional specialization.

Three hours of lectures per week.

Exclusion: GGR220

Prerequisite: ECMA02Y (ECOA02Y)

ECMB35H3 Public Decision Making

A study of decision-making by governments from an economic perspective. The course begins by examining various rationales for public involvement in the economy and then examines a number of theories explaining the way decisions are actually made in the public sector. The course concludes with a number of case studies of Canadian policy making.
Two hours of lecture per week.
Limited enrolment: 60
Exclusion: (ECOB35)
Prerequisite: ECMA02Y (ECOA02Y) or ECMA03Y (ECOA03Y)

ECMB36H3 Economic Aspects of Public Policy

Cost-Benefit Analysis (CBA) is a key policy-evaluation tool developed by economists to assess government policy alternatives and provide advice to governments. In this course, we learn the key assumption behind and techniques used by CBA. You will learn how to criticize the shortcomings in the work of those who misuse Cost-Benefit Analysis techniques, and you will come to understand both the power and the limitations of CBA. We use the general analytical techniques discussed in the first part of the course to discuss specific policy areas, for example, the economics of education, the costs to society of smoking, government policy towards early childhood services, and the economics of the Internet.

Limited enrolment: 60

Exclusion: (ECOB36)

Prerequisites: ECMA02Y or ECMA03Y (ECOA02Y or ECOA03Y)

ECMB68H3 Comparative Economic Systems

A research-oriented course focused on the application of general systems theory to comparative analysis of alternative economic systems, capitalist, socialist and other. Half of the course will focus on general theoretical systems models; the other half will empirically study Russia, China and other systems.
Two hours of lecture per week.
Exclusion: ECO330 (ECOB68)
Prerequisite: ECMA02Y or ECMA03Y (ECOA02Y or ECOA03Y)
Corequisite: ECMB01 or ECMB02

ECMC02H Topics in Price Theory

Continuing development of the principles of microeconomic theory. This course will build on the theory developed in ECMB02H. Topics will be chosen from a list which includes risk and uncertainty, monopoly and

oligopoly, game theory, general equilibrium, Pareto Optimality, externalities.

Limited enrolment: 80 per section

Exclusions: (ECMB03), (ECMB04), ECO200, ECO206

Prerequisite: ECMB02H

ECMC06H3 Topics in Macroeconomic Theory

Continuing development of the principles of macroeconomic theory. The course will build on the theory developed in ECMB06H. Topics will be chosen from a list including consumption theory, investment, exchange rates, rational expectations, inflation, neo-Keynesian economics, monetary and fiscal policy.

Limited enrolment: 80 per section

Exclusions: (ECMB07), (ECMB08), ECO202, ECO208

Prerequisite: ECMB06H

GGRC18H3 Urban Transportation Policy Analysis

This course examines current problems in urban transportation planning using policy analysis. Topics include setting of community goals, economic and social cost-benefit analysis, evaluation of re-distributive impacts, impacts of transport projects on land values, mass transit subsidies, and regulation / deregulation. The course examines insights gained from contemporary empirical research. Two hours of lectures per week. This course will count as a B-level course in Economics.

Exclusion: GGR324

Prerequisites: University-level half-course in data analysis and one of GGRB05, GGRB06, GGRB27, POLB60

ECMC20H3 Economics of the Media

An examination of the role and importance of communications media in the economy. Topics to be covered include: the challenges media pose for conventional economic theory, historical and contemporary issues in media development, and basic media-research techniques. The course is research-oriented, involving empirical assignments and a research essay.

Limited enrolment: 60.

Exclusion: (ECOC20)

Prerequisites: ECMB01H or ECMB02H (or ECMB03Y or ECMB04Y)

ECMC27H3 Classics in the History of Economic Thought

A study of the literature of economics, both past and current. Students will read economists important in the development of current economic thought, including Adam Smith, Karl Marx, and John Maynard Keynes, and will also read the ideas of some important current economic thinkers. Emphasis is on primary sources rather than secondary commentaries.

Limited enrolment: 60 per section

Exclusions: ECMB25H, ECMB26H, ECO322

Prerequisites: ECMB01H or ECMB02H & ECMB05H or ECMB06H

ECMC31H3 Economics of the Public Sector: Taxation

A course concerned with the revenue side of government finance. In particular, the course deals with existing tax structures, in Canada and elsewhere, and with criteria for tax design.

Two hours of lecture per week and a one hour tutorial per week.

Limited enrolment: 60.

Exclusion: ECO236 (ECOC31)

Prerequisite: ECMB01H or ECMB02H (or ECMB03Y or ECMB04Y)

ECMC34H3 Economics of Health Care

A study of the economic principles underlying health care and health insurance.

This course is a survey of some of the major topics in health economics and an introduction to the ongoing debate over health care policy. The course will address both the public and private components of health care. Some of the topics that will be covered will include the economic determinants of health, the market for medical care, the market for health insurance, health and safety regulation as well as workers compensation systems, the role of the government in health care, and health care reform.

Limited enrolment: 60

Prerequisite: ECMB02H

ECMC40H3 Economics of Organization and Management

This course covers economics of the internal organization of the firm. The emphasis will be on the economic relationships between the various parties involved in running a business: managers, shareholders, workers, banks, and the government.

Topics covered will include the role of organizations in market economies, contractural theory, risk sharing, property rights, corporate financial structure and vertical integration.
Two hours of lecture per week.
Limited enrolment: 60
Exclusion: ECO310 (ECOC40)
Prerequisite: ECMB01H or ECMB02H (ECOB03Y or ECOB04Y)

ECMC41H3 Industrial Organization

The economics of the firm in a market environment. The aim is to study business behaviour and market performance as influenced by concentration, entry barriers, product differentiation, diversification, research and development and international trade. There will be some limited use of calculus in this course.
Two hours of lecture per week.
Limited enrolment: 60
Exclusion: ECO310 (ECOC41)
Prerequisite: ECMB02H (ECOB03Y or ECOB04Y)

ECMC48H3 Money and Banking

An introduction to the role of banking institutions in the economy. There will be a focus on the institutional arrangements and basic economic theory underlying financial intermediation. Specifically, the interaction of the Bank of Canada, the chartered banks, trust companies, credit unions and households in the credit and financial services market will be considered.

Limited enrolment: 60 per section

Exclusion: ECO348

Prerequisite: ECMB05H or ECMB06H (ECMB07Y or ECMB08Y)

ECMC49H3 Financial Economics

This course is designed to introduce students to the theoretical underpinnings and practical applications of financial economics. Topics covered include: intertemporal choice, expected utility theory, the Capital Asset Pricing Model (CAPM), the cost of capital, the use of debt by the firm and dividend policy, market efficiency, the term structure of interest rates, and option pricing models. Students will acquire both a broad theoretical understanding of financial economics and review key empirical tests of the theories developed.
Two hours of lecture per week.
Limited enrolment: 60
Exclusion: (ECOC49)
Prerequisites: ECMB02H & ECMB06H & ECMB12H (ECMB04Y & ECMB08Y & ECMB09Y)

ECMC51H3 Labour Economics I

Applications of the tools of microeconomics to various labour market issues. The topics covered will include: fertility and family formation; labour supply; labour demand; equilibrium in competitive and non-competitive markets; non-market approaches to the labour market; unemployment. Policy applications will include: income maintenance Programs; minimum wages; unemployment insurance benefits; poverty.
Two hours of lecture per week.
Limited enrolment: 60
Exclusions: ECO239, 339 (ECOC51)
Prerequisite: ECMB01H or ECMB02H (ECMB03Y or ECMB04Y)

MGTC52H3 Business Negotiation

An introduction to the theory and practice of negotiation in business. Almost all business relationships (for example, relationships among managers and relationships with suppliers and customers) require negotiations. This course provides the student with a set of approaches and tactics to use in different forums of negotiations, and an introduction to traditional and emerging procedures for resolving disputes if negotiations break down. To gain practical experience, students will participate in exercises which simulate negotiations.

Limited enrolment: 60

This course will count as a 'B'-course in Economics for Management Studies Programs.

Exclusion: MGTC54Y

Prerequisites: MGTA02Y, MGTC23H, MGTC24H

MGTC53H3 Introduction to Industrial Relations

An overview of the industrial system and process in Canada. The course will introduce students to: industrial relations theory, the roles of unions and management, employment law, labour law, the impacts of collective bargaining on the economy and the firm, strikes and lockouts, grievance arbitration, collective bargaining in the public sector, occupational health and safety and workers' compensation, and the history of the Canadian industrial relations systems. Students will participate in collective bargaining simulations.

Limited enrolment: 60

This course will count as a 'B'-course in Economics for Management Studies Programs.

Exclusion: MGTC54Y

Prerequisites: Completion of at least ten full-course equivalents including ECMA03Y (ECOA03Y) or ECMA02Y (ECOA02Y) and MGTA02Y

ECMC61H3 International Economics: Finance

Macroeconomic theories of the balance of payments and the exchange rate in a small open economy. Recent theories of exchange-rate determination in a world of floating exchange rates. The international monetary system: fixed "versus" flexible exchange rates; international capital movements, and their implications for monetary policy.
Two hours of lecture per week.
Limited enrolment: 60
Exclusion: ECO328 (ECOC61)
Prerequisite: ECMB06H (ECMB08Y) (ECOB07Y or ECOB08Y)

ECMC62H3 International Economics: Trade Theory

An outline of the standard theories of international trade: analysis of the factors on which a country's trade with other countries is based and the welfare implications of this trade; and empirical tests of these theories. Economic growth and international trade. The instruments and effects of trade policy (tariffs, quotas, non-tariff barriers); the theory of customs unions.
Two hours of lecture per week.
Limited enrolment: 60
Exclusion: ECO328 (ECOC62)
Prerequisite: ECMB01H or ECMB02H (ECMB03Y or ECMB04Y) (ECOB03Y or ECOB04Y)

ECMC80H3 Topics in North American Economic Development

A study of the history of economic development in North America. Students will survey current theoretical approaches in economic history, study particular topics in North American economic history, and develop hands-on practice in data collection and analysis.

Limited enrolment: 60 per section

Exclusion: ECMB81Y

Prerequisites: ECMB01H or ECMB02Y or ECMB05H or ECMB06H

ECMD11H3

ECMD12H3 Supervised Reading

For upper-level students whose interests are not covered in one of the other courses normally offered. Students are expected to design the course with the guidance of a staff member interested in the area of study being proposed. The courses will normally be made available only to students whose performance in Economics courses has been well above average. Students interested in supervised reading courses are urged to contact faculty members well in advance, as not all faculty will be available for these courses in any single term.

Students are advised that they must obtain consent from the supervising instructor before registering for this course.

COURSES NOT OFFERED 2001/2002

ECMC09H3 Applied Regression Analysis
Prerequisite: ECMA02Y or ECMA03Y
Exclusion: (ECMC11Y)
Prerequisite: ECMB02H & ECMB06H & ECMB12H & ECMB13H

ECMC10H3 Empirical Applications of Regression Analysis
Exclusion: (ECMC11Y)
Prerequisite: ECMC09H

ECMC13H3 Advanced Microeconomic Theory
ECMC14H3 Advanced Macroeconomic Theory

ECMC32H3 Economics of the Public Sector: Expenditures
Exclusions: ECO236 (ECOC32)
Prerequisites: ECMB01H or ECMB02H (or ECMB03Y or ECMB04Y)

ECMC37H3 Law and Economics
Exclusion: ECO320 (ECOC37)
Prerequisite: ECMB01H or ECMB02H (ECOB03Y or ECOB04Y) (ECMB03Y or ECMB04Y)

ECMC42H3 Economics of the Internet and E-Commerce

ECMC52H3 Labour Economics II
Exclusions: ECO239 & ECO339 (ECOC52)
Prerequisites: ECMC51H (ECOC51H) & ECMB02H (ECOB04Y) & ECMB12H (ECMB09Y)

ECMC66H3 Economic Development
Exclusions: ECO324, IDSC66H
Prerequisites: ECMB01H or ECMB02H (ECMB03Y or ECMB04Y) (ECOB03Y or ECOB04Y)

ECMC67H3 Development Policy
Exclusions: ECO324, IDSC67H
Prerequisites: ECMC66H (ECOC66H)

ECMC90H3 Research Methods in Economic Policy Management and Data Analysis
Prerequisites: ECMB02H & ECMB06H & ECMB11H & ECMB12H

ECMD50H3 Workshop in Economic Research

Full Listing of Courses Not Offered

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University of Toronto at Scarborough 2001/2002 Calendar
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