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LAKEHEAD CALENDAR 2009-2010

Lakehead 2009-2010 Academic Courses Undergraduate Courses Economics Courses
Economics Courses

Courses not offered this academic year (fall/winter terms) are indicated by the words "NOT OFFERED THIS YEAR" below the course description. Nevertheless, students should refer to the Timetable as a final check.

The following courses are offered for degree programs.

Economics 1100      Principles of Economics
Credit Weight: 1.0
Description: Definition of the economic problem. Theory of the firm. Theory of competitive supply. Theory of demand. Monopoly and other market forms. Markets for land, labour, and capital. Income distribution. National income determination and causes of unemployment and inflation. Economic fluctuations and growth. International trade. Flexible and fixed foreign exchange rates. Canadian economic problems and policies.
Offering: 3-0; 3-0
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Economics 2014      Basic Economics - Theory
Credit Weight: 0.5
Description: (For Forestry degree students) Statement of the economic problem. Theory of the firm. Theory of demand. Operation of markets and determination of prices. National income determination. The reasons for international trade.
Offering: 0-0; 3-0
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Economics 2017      Microeconomics I
Credit Weight: 0.5
Prerequisite(s): Economics 1100
Description: Intermediate microeconomic theory with special emphasis on applications. Topics include: demand theory and measurement, production and cost theory and measurement, market structure and pricing behaviour, pricing practices, regulation and antitrust law.
Notes: May not be taken as Business 2017.
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Economics 2037      Microeconomics II
Credit Weight: 0.5
Prerequisite(s): Economics 2017
Description: A continuation of Microeconomics I. Topics include: welfare economics, public goods, externalities, information theory, principal-agent problems and game theory.
Offering: 3-1; or 3-1
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Economics 2115      Economic Statistics I
Credit Weight: 0.5
Prerequisite(s): Economics 1100
Description: An introduction to probability; random variables, discrete distributions. Analysis of data: measure of dispersion and location; normal, t, chi-square and f tests, contingency tables, analysis of variance; linear regression and correlation.
Offering: 3-0; or 3-0
Notes: May not be taken as Business 1066.
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Economics 2117      Economic Statistics II
Credit Weight: 0.5
Prerequisite(s): Economics 2115
Description: Extends the material covered in Economics 2115. Random variables. Probability distributions. The density function. Binomial, normal, and other distributions. Conditional distribution. Independence and covariance. Estimation and estimators. The principle of maximum likelihood. Hypothesis testing. Bivariate and multivariate regression and correlation. The least-squares method. The crucial role of assumptions. The application of statistics to economics is illustrated with lifelike problems throughout.
Offering: 3-0; or 3-0
Notes: May not be taken as Business 1066.
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Economics 2131      Human Resources Economics
Credit Weight: 0.5
Prerequisite(s): Economics 1100
Description: Economic aspects of demographic characteristics. Population patterns and changes from the viewpoints of the world, national, and local economy. The human agent as a factor of production. Investment in the human agent from industrial and social viewpoints. Education as an economic activity. The Canadian experience.
Offering: 3-0; or 3-0
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Economics 2203      Macroeconomics
Credit Weight: 1
Prerequisite(s): Economics 1100
Description: National income determination, classical and Keynesian theories of employment, interest and money. Analysis of business cycles, inflation and economic growth. Policy for growth, stability and full employment, in the light of recent theoretical developments.
Offering: 3-0; 3-0
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Economics 2212      Environmental Economics
Credit Weight: 0.5
Prerequisite(s): Permission of the Department
Description: An examination of the linkage between economic activity and the environment. Topics include the valuation of environmental amenities, market failure, optimal pollution levels, incentive compatible regulation including pollution permit trading and a comparison of policy in Canada and other countries.
Cross-List(s): Environmental Studies 2212
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Economics 2213      Gender Economics
Credit Weight: 0.5
Prerequisite(s): Permission of the Department
Description: An examination of the importance of gender in the economy and in economics. Topics will include: the gender earnings gap, occupational segregation, pay equity, employment equity, trends in labour market participation, the economics of the family and measurement of women's contribution to the economy.
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Economics 2231      Health Economics
Credit Weight: 0.5
Prerequisite(s): Permission of the Department
Description: Economic analysis of the provision of health care services. Patterns of consumer and producer behaviour; the functioning and regulation of markets for health care; policy issues in the supply of health care services in Canada.
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Economics 2511      Locational Economics
Credit Weight: 0.5
Prerequisite(s): Economics 1100
Description: The geographical view of economic activities, examining spatial organization and spatial interaction within and between local, regional, and world economies. Locational characteristics of primary, secondary and tertiary activities are evaluated, focusing on topics of current concern.
Offering: 3-0; or 3-0
Notes: May not be taken as Geography 2511.
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Economics 3111      Labour Economics
Credit Weight: 0.5
Prerequisite(s): Economics 1100
Description: An examination of the determination of wages, employment and unemployment. Topics include: theories and applications of labour demand and labour supply, unions, unemployment, discrimination and labour market policy.
Offering: 3-0; or 3-0
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Economics 3114      International Finance
Credit Weight: 0.5
Prerequisite(s): Economics 1100
Description: The balance of payments and its adjustment. The foreign exchange market. Fixed versus flexible exchange rates. Internal-external balance. Demand for international reserves and international liquidity. Capital movements: long and short term. The Eurodollar market. The international monetary system. Canadian-U.S. financial relationships, Canada under floating exchange rates.
Offering: 3-0; or 3-0
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Economics 3117      Mathematical Economics I
Credit Weight: 0.5
Prerequisite(s): Economics 2017 or permission of the instructor
Description: The nature of mathematical economics. Linear economic models. Comparative statics. Optimization: a special variety of equilibrium analysis. Lagrange multipliers. Shadow prices.
Offering: 3-0; or 3-0
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Economics 3131      Benefit-Cost Analysis/Project Appraisal
Credit Weight: 0.5
Prerequisite(s): Economics 1100
Description: Methods of evaluating private and public projects; decision rules, efficiency conditions and methods of conducting cost-benefit analysis, case studies and applications of the techniques.
Offering: 3-0; or 3-0
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Economics 3133      Regional Economics
Credit Weight: 0.5
Prerequisite(s): Economics 1100 or Geography 2511
Description: Economic characteristics of Canadian regions. Models of regional income determination and growth. The effects of space on the price system. Spatial mobility of production factors. Issues in regional policy.
Offering: 3-0; or 3-0
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Economics 3211      Economic Development
Credit Weight: 0.5
Prerequisite(s): Economics 1100
Description: Theories of economic growth and development are examined in the context of developing countries. Sources of growth, barriers to development, and the role of government in development are emphasized.
Offering: 3-0; or 3-0
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Economics 3214      History of Economic Thought
Credit Weight: 0.5
Prerequisite(s): Economics 1100
Description: A selective examination of economic writings of the 18th, 19th and 20th centuries. The classical economists: Adam Smith, David Ricardo and J.S. Mill. The neo-classical economists: Karl Menger, W.S. Jevons, Leon Walras and Alfred Marshall. Comparisons between earlier writings and modern approaches to microeconomics and macroeconomics. The development of value theory in economics. Methodological aspects of economic analysis and policy. Students will be expected to read selected parts of the original sources and commentaries on these sources.
Offering: 3-0; or 3-0
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Economics 3215      Money and Banking
Credit Weight: 0.5
Prerequisite(s): Economics 1100
Description: An introduction to economics of financial markets and financial institutions, the roles of money and the tools, objectives, and practice of monetary policy.
Offering: 3-0; or 3-0
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Economics 3313      Public Finance
Credit Weight: 0.5
Prerequisite(s): Economics 1100
Description: An introduction to the economics of the public household. Emphasis will be placed on the theory governing tax and expenditure policies. The efficiency of alternative policies will be compared from the viewpoints of allocation, distribution and stabilization criteria. Includes an examination of Canadian tax and expenditure policies.
Offering: 3-0; or 3-0
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Economics 3319      Economic History
Credit Weight: 0.5
Prerequisite(s): Economics 1100
Description: World economic history, especially European experience and its impact on North American development. Evolution of the Canadian economy, its institutions and policies. Theories and methods of economic history. Reviews of classic and recent writing in Canadian and general economic history.
Offering: 3-0; or 3-0
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Economics 3412      Industrial Organization
Credit Weight: 0.5
Prerequisite(s): Economics 1100
Description: Study of markets with emphasis on monopoly and oligopoly. Topics include product differentiation, entry deterrence, predation, collusion, advertising, vertical restraints, mergers, research and development, strategic behaviour and antitrust policies in Canada, U.S. and the European Union.
Offering: 3-0; or 3-0
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Economics 3611      Transportation Economics
Credit Weight: 0.5
Prerequisite(s): Economics 1100
Description: An introduction to transportation economics. The economics of air, rail, road, water and pipeline modes will be assessed and compared. The effect of government regulation on Canadian transportation rates and structures will be examined.
Offering: 3-0; or 3-0
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Economics 4111      International Trade
Credit Weight: 0.5
Prerequisite(s): Economics 2017 and 2037
Description: Ricardian and Heckscher-Ohlin models of international trade. The factor-price equalization theorem. Application of the Heckscher-Ohlin model: the Stolper-Samuelson and the Rybczynski theorems. Tariffs, trade controls and trade liberalization.
Offering: 3-0; or 3-0
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Economics 4117      Mathematical Economics II
Credit Weight: 0.5
Prerequisite(s): Economics 3117
Description: A continuation of Mathematical Economics I. Further selected applications of calculus and linear algebra. Equilibrium analysis in economics. Dynamic analysis and stability analysis.
Offering: 3-1; 0-0
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Economics 4217      Econometrics and Forecasting
Credit Weight: 0.5
Prerequisite(s): One of Economics 2117, Business 1066, Mathematics 2321, Geography 3231 or permission of the Department
Description: Estimation, forecasting specification problems, statistical inference and hypothesis testing, linear and dynamic models. Computer application using selected examples from business and economics.
Offering: 3-1; or 3-1
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Economics 4230      Cliometric Analysis
Credit Weight: 0.5
Prerequisite(s): Economics 2115/2117 or Business 1066 or permission of the instructor
Description: Cliometrics is the study of economic history that emphasizes the frequent use of statistical and regression estimation techniques. This course applies basic quantitative empirical methods to research in economic history as well as examines techniques of data collection, data management and the design of quantitative history projects. Students will be introduced to the rich literature in quantitative economic history via selected research topics in wealth, economic demography and fertility, nutrition, economic development and industrialization and regional economic history. Part of the course will involve designing and implementing a data collection and analysis project using either historical micro data or macro data.
Offering: 3-0; or 3-0
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Economics 4531      Natural Resource Economics
Credit Weight: 0.5
Prerequisite(s): Economics 2017 and 2037 or 2014
Description: Renewable versus nonrenewable resources. Role of natural resources in the Canadian economy. Theory of nonrenewable resource exhaustion. Scarcity indicators. Resource taxation. Optimal management of renewables: forests and fisheries.
Cross-List(s): Environmental Studies 4531
Offering: 3-0; or 3-0
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Economics 4611      Special Topics
Credit Weight: 0.5
Prerequisite(s): Permission of the department
Description: Honours level course. Subject matter determined by the needs and interests of the participating students and faculty.
SpecialTopic: Y
Offering: 3-0; or 3-0
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Economics 4901      Honours Thesis
Credit Weight: 1
Prerequisite(s): Permission of the Department
Description: This course is open only to Economic majors registering in the fourth year of the honours program. Students are required to select a topic and complete a bibliography by the end of September. A faculty advisor (or advisors) will be assigned at that time. The thesis is due in final format at the end of March of the graduating year.
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