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The aim of this course is to provide students in the M.A.E. program with an opportunity to undertake a research project, and to present it in a written essay. Instructors of this course will provide guidance to students on how to make an effective economic argument. Students choose the topic of their project in consultation with their instructor.

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This course provides students of the M.A.E. program with an opportunity to explore topics related to environmental, resource and development economics but not covered by existing M.A.E. courses. The course can either take a Directed Readings format, or represent the graduate-level version of an Honours course outside of Economics. In the latter case, students must choose from the list of non-Economics elective courses approved by the Graduate Program Committee and available on the M.A.E. website. Restriction(s): Students must obtain permission from the Graduate Program Committee (GPC) to register for this course.

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This course provides students of the M.A.E. with an opportunity to obtain experience with research or policy analysis related to applied economics. Placements will either be with a Canadian research institute, to give students an opportunity to conduct (and contribute to) policy-related research, or a with a Canadian non- governmental organization, to provide hands-on, practical experience with policy analysis. Restriction(s): Students must obtain permission from the Graduate Program Committee (GPC) to register for this course.

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This course examines the measurement and analysis of costs and benefits for project/policy evaluation. It describes the theoretical basis for applied welfare analysis and discusses empirical techniques for estimating use, option and existence values using observed behavior and stated preferences. Topics related to cost-benefit analysis such as discounting, integrated assessment models, and benefit transfer are studied. These concepts are applied for analysing a variety of issues in the areas of environment, natural resources, health care and public expenditure analysis.

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This course provides an introduction to microeconomic theory at the advanced level. We consider consumer choice theory with certainty and under uncertainty, producer theory, and general equilibrium theory in the first part of the course. The second part of the course is dedicated to modern microeconomics of strategic interactions, game theory and information. We consider static and dynamic games, Bayesian games, oligopoly, and markets with information asymmetry.

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This course discusses growth theories, stressing their empirical implications and the relation of theory to data and evidence. The growth theories covered include neoclassical theories, Solow-Swan model and the Ramsey-Cass-Koopmans model, as well as endogenous growth theories. In addition, the essentials of growth accounting and empirical analysis using cross-country datasets, with a particular emphasis on convergence, are discussed.

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This course reviews the mathematical tools that are required for coursework in the Master of Arts in Applied Economics (MAE) program. It is presumed that students have a working knowledge of differentiation, partial differentiation, optimization of functions with multiple variables and basic matrix algebra. These concepts are reviewed and applied to economic techniques such as constrained optimization, comparative statics, concave programming and the Kuhn-Tucker conditions.

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This course covers methods of estimation and inference for single and simultaneous equations models, with an emphasis on the classical linear model. It also examines violations of the classical model that are commonly found in economic data, and develops procedures for estimation under these conditions.

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This lab provides the practical component for the course GECON-7201: Applied Econometrics. It ensures that students are able to use the econometric package, STATA, to complete assignments and to undertake a research project. PREREQUISITES: Students must be enrolled in the M.A.E. program or obtain written permission from the Graduate Program Chair. GECON-7201 must be taken concurrently.

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This course introduces advanced mathematical methods for formulating and analyzing economic theories and problems. Topics such as difference and differential equations, dynamic optimization, and game theory are presented with economic applications. Restriction(s): Students may not receive credit for this course if they already have credit for ECON-4203 or GECON-4203.

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This course examines issues in a selected area of economics. Possible areas include labour, health and development economics. The choice of topic depends on the instructor. The emphasis is on using empirical methods. Appropriate econometric techniques for addressing issues of endogeneity, selection bias, and unobserved heterogeneity may be covered. Students may repeat this course for credit, provided the topic varies. Restriction(s): Students may not receive credit for this course if they already have credit for ECON-4303 or GECON-4303.

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This course provides an overview of the current literature on the economic growth and development of developing countries. Topics covered include economic growth, inequality, the role of geography, history, and institutions for sustainable growth, the internal structure of households, human capital, and the functioning of factor markets. The objective of the course is to introduce students to some of the most active new areas of research on economic development and to apply the analytical and empirical tools for studying some of the most pressing issues faced by developing countries.

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This course provides students with an opportunity to build on the macroeconomics background they have developed in Honours Macroeconomics and graduate Macroeconomics. The course introduces students to dynamic macroeconomic models and techniques for solving them, highlighting the use of such models and techniques for understanding the implications of macroeconomic policy. Emphasis is placed on the importance of political economy considerations in macroeconomics. Issues covered in any given year may include the interplay between demographics and fiscal policy, the determinants of policy related to technology adoption and therefore economic growth, income redistribution or the determination of monetary policy. Restriction(s): Students may not receive credit for this course if they already have credit for ECON-4307 or GECON-4307 (unless the topic varies).

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This course examines theoretical and applied topics related to international trade or international finance. Topics related to international trade may include a discussion of the benefits of trade, the effects of tariffs and quotas, customs unions and imperfect competition on trade. Topics related to international finance may include an examination of exchange rate policy, the fiscal and monetary effects of trade investment flows, and the development of the international monetary system. Restriction(s): Students may not receive credit for this course if they already have credit for ECON-4310 or GECON-4310.

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This course reviews the normative foundations of natural resource economics, addressing concepts such as efficiency, intergenerational equity and sustainability. Renewable and non-renewable resources such as forestry, fisheries, renewable energy, and fossil fuels are considered. The course further examines (i) the role of natural resources in economic development, and (ii) natural resource management under various market structures, regulatory regimes, and the existence of non-consumptive values.

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This course examines industrial organization theory, which is the field in economics that examines the conduct and behaviour of firms in imperfectly competitive markets. Given this setting, firms have an incentive to undertake strategies which enhance their profitability, and in analyzing these strategies, we discuss a number of key concepts from game theory. Included in the course is an analysis of the behaviour of monopoly firms and their use of a variety of pricing and marketing practices. In addition, the course examines the effect of quality and durability of goods and the use of warranties by firms on social welfare. Restriction(s): Students may not receive credit for this course if they already have credit for ECON-4313 or GECON-4313 (unless the topic varies).

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This course deals with the theory of taxation and public expenditures within the context of first-best and second-best analysis. The theories of production, consumption, and other externalities are discussed. Other topics include the theory and practice of cost-benefit analysis and fiscal federalism. The economic analysis of collective decision-making in a non-market context is examined. Restriction(s): Students may not receive credit for this course if they already have credit for ECON-4314 or GECON-4314.

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This course reviews the theoretical foundations of environmental and natural resources economics addressing issues such as externalities, regulation of polluting activities, and the role of natural resources in economic development. It examines environmental policy and resource extraction strategies in the context of complexitiesarising due to imperfect competition, international trade, and uncertainty. Dynamic optimization techniques are applied to analyze climate change and the efficient utilization of renewable and non-renewable resources such as fisheries, forestry, minerals and fossil fuels.

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This course examines a number of issues in the economics of regulation. Regulation is one form of government control of private firm behaviour, and involves control over the entry of firms, limits on pricing, and the regulations involving industry standards and operations, including environmental regulation. The course examines theories of regulation, the types of regulatory rules used, and the efficacy of those rules in enhancing social welfare. Reference will be made to a number of regulated industries both in Canada and the U.S. Restriction(s): Students may not receive credit for this course if they already have credit for ECON-4316 or GECON-4316.

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This course examines the interaction amongst economic activities/policies, environmental damage and social welfare. The course pursues an analytical approach to understanding the theoretical foundations for environmental economics - externalities, public goods and the regulation of polluting activities. It examines environmental policy in the context of complexities arising due to imperfect competition, international trade, regulatory enforcement, and uncertainty. Specific attention is paid to environmental problems in developing countries, and to current international environmental issues such as climate change.

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The economic and philosophical writings of Keynes and the "Cambridge Circus" are examined in the historical and social context of the times. Restriction(s): Students may not receive credit for this course if they already have credit for ECON-4311 (unless the topic varies).

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This course introduces students to the main financial instruments that are used in the investment industry, including a detailed description of financial instruments and how they are traded in financial markets. A brief review of portfolio theory is presented including a discussion of a number of key models of modern finance, including the Capital Asset Pricing Model and the Arbitrage Pricing Theory. The course also includes a detailed examination of the role and operation of fixed-income securities and equities. The course concludes with a discussion of the role and techniques of passive versus active portfolio management. Restriction(s): Students may not receive credit for this course if they already have credit for ECON-4800 (unless the topic varies).

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This course provides an in-depth analysis of a number of topics in modern finance theory and applications. The main areas that are examined include Futures Markets, Option Markets and Derivatives. These financial instruments play a key role in the management of risk by firms, and have attracted increasing interest from private sector firms and the larger community. The role of these instruments in the financial markets and their effect on the financial system is examined in detail. Restriction(s): Students may not receive credit for this course if they already have credit for ECON-4801 (unless the topic varies).

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