This course provides a richly rewarding opportunity for students in their second year to work in the research project of a professor in return for 299H course credit. Students enrolled have an opportunity to become involved in original research, learn research methods and share in the excitement and discovery of acquiring new knowledge. Project descriptions for participating faculty members for the following summer and fall/winter sessions are posted on the ROP website (www.utm.utoronto.ca/rop/research-opportunity-program) in mid-February and students are invited to apply at that time. See Experiential and International Opportunities for more details.

This course provides a richly rewarding opportunity for students in their second year to work in the research project of a professor in return for 299Y course credit. Students enrolled have an opportunity to become involved in original research, learn research methods and share in the excitement and discovery of acquiring new knowledge. Project descriptions for participating faculty members for the following summer and fall/winter sessions are posted on the ROP website (www.utm.utoronto.ca/rop/research-opportunity-program) in mid-February and students are invited to apply at that time. See Experiential and International Opportunities for more details.

This course will focus on the economic success and failure of several key countries and regions from the start of the second millennium up to the early twentieth century. Topics include: pre-modern growth in China & India vs. Europe, the first industrial revolution, exploitation and international trade in the British Empire, the standards-of-living debate, the second industrial revolution. This course is part of the Certificate in Global Perspectives.

This course will focus on the economic success and failure of several key countries and regions during the twentieth century. Topics include: globalization, causes and consequences of interwar instability, a history of modern development (Japan, the Asian Tigers, India & China vs. Latin America), new institutional economics & new economic geography: African atrophy. This course is part of the Certificate in Global Perspectives.

The course studies firms’ pricing decisions drawing on tools from economic theory. Some examples of the questions that are addressed are: How does a firm determine the price for a new product? How should it optimally price to different market segments? What form do these prices take? When and how should a firm change prices overtime? When should an auction be used to sell a product? What type of auction yields greater profits? The analysis is supplemented by real world examples and case studies from the business world.

This course studies firms’ strategies and the role of government regulators in different markets. Specifically, it studies strategic decisions that firms make when they interact with other firms. These include how to price in the face of competition, how much to invest in R&D or advertising, and whether to buy a rival (by merging, integrating). The course also analyzes the conditions under which firm’s choices require intervention by market regulators due to a tension between firms’ profits and consumer welfare. The course draws on tools from microeconomics and game theory, and the analysis is supplemented by real world examples and case studies from the business world.

Application of economics to the field of environmental and natural resource economics. This course uses economic theory and empirical evidence to address important environmental issues, such as management of renewable and non-renewable resources, and different forms of environmental regulation and pollution control. The course will focus on market based instruments, such as tradeable pollution rights, and climate change problems.

This course will focus on the microeconomic analysis of the causes and consequences of poverty. The emphasis will be on developing countries but we will also draw parallels to poverty in industrialized countries such as Canada. Psychological, cultural, social, and institutional factors will be considered along with an exploration of policy solutions. Some of the topics we will cover include inequality, nutrition, health, education, fertility, credit, savings, and entrepreneurship.

This course examines the economic basis for law and legal institutions. The topics covered include the microeconomic analysis of property rights, contract law, tort law, crime, and the limitations of economic analysis. The appropriate economic measures of damages in tort and contract cases will be discussed. No previous familiarity with the law is assumed. (This is an economic analysis of legal issues, not a course in law.)

This course is a continuation of ECO320H5 An Economic Analysis of Law: Part 1. The topics covered include the microeconomic analysis of corporate law, law and financial markets, bankruptcy law, intellectual property law, marriage and divorce law and the choice between regulation and the common law.

Economic development and transformation of the low-income countries of Latin America, Africa and Asia. Theory and policy analysis relating to the following economic issues in these countries: higher rates of economic growth, the role of the government in resource allocation, the industrial-agricultural sector interface, inward versus outward looking trade strategies, and the international debt problem. The following problems will also be addressed: food supply, domestic savings, tax revenue, foreign exchange, foreign direct investment, high rates of inflation, benefit-cost analysis and economic planning.

This course studies the economic foundations of macroeconomic theory and develops analytical skills in constructing and solving macroeconomic models. This course is recommended for students contemplating graduate studies. This course is part of the Certificate in Advanced Economics.

This course is an advanced analysis of microeconomic theory, including the behaviour of consumers under uncertainty; issues in poverty, inequality and social welfare; game theory and its applications to economics and political economy. This course is recommended for students contemplating graduate studies. This course is part of the Certificate in Advanced Economics.

This is a course on the application of economic analysis to four major areas of urban activity. The areas are land markets, housing and buildings, transportation, and public finance. In each area, we will consider the role of the government and attempt to understand the source of many current urban economic problems.

Public Economics I focuses on contemporary public policy questions. The goal of the course is to help students develop and apply analytical tools, such as cost-benefit analysis, to examine pressing policy issues of our time. Issues include responses to global warming, preserving biodiversity, combating growing inequality, and the regulation of addictive substances. Students will learn how to use empirical evidence to examine these issues. The course places a strong emphasis on discussion, debate, and effective writing about policy issues from an economics perspective.

Public Economics II builds on Public Economics I (although the latter is not a prerequisite). The course focuses on externalities and market failure, and the appropriate role of government in response. Students will study the actual role of government in a variety of settings, with a view to identifying ways of improving economic efficiency and the quality of the environment (among other desirable ends) through different types of policy reform. The course should appeal to students who would like to learn more about applied microeconomic analysis and/or who are interested in public policy issues. The course will provide students with a useful set of microeconomic tools for analyzing public policy questions. Students will also learn basic empirical methods, develop effective writing skills, and apply the techniques learned to examine a variety of interesting current policy issues.

This course uses both applied microeconomic theory and empirical analysis to examine labour markets in Canada. The course is especially focused on the link between research and public policy. Topics to be covered include: labour supply and demand, minimum wages, immigration, human capital, education production, inter- and intra-generational equality, and peer effects. At the end of the course, students should have a firm grasp of key policy issues involving Canada's labour market and be able to critique the quality of other empirical studies.

This course studies the economic behaviour of employers and employees as they interact in the labour market. The class extends beyond basics of labour supply and demand to consider cases when markets are not always perfectly competitive. The course will cover such topics as segmented labour markets, unionization and collective bargaining, unemployment, monopsony, and discrimination. 

This course aims to provide students with an overview of recent macroeconomic research on the labour market. Discussion includes theoretical models as well as empirical evidence. Topics include: search frictions, labour market flows, sorting, inequality, occupational mobility, human capital accumulation, and intergenerational mobility.

The strategy of the course is to develop a series of models to examine the importance of money and banks. The topics examined in this framework include: the role of money and the financial system, effects of inflation, public pensions and national debt, and the role and importance of banks.

This course explores a wide range of topics on the theories of money and banking. The strategy of the course is to develop a series of models to examine the importance of money, banks, and other financial institutions in the way economies work. The topics examined in this framework include: the role of money and the financial system, effects of inflation, bond and stock markets, banks, control of the money supply, and international monetary systems.

This course covers a special topic in Economics. Content relates to instructor's area of interest, thus the course varies in focus from year to year. Students require specific prerequisites for each course. Details are available from the academic advisor or departmental website. Limited Enrolment. The contact hours for this course may vary in terms of contact type (L,S,T,P) from year to year, but will be between 24-36 contact hours in total. See the UTM Timetable.

This course covers a special topic in Economics. Content relates to instructor's area of interest, thus the course varies in focus from year to year. Students require specific prerequisites for each course. Details are available from the student advisor or departmental web site.

This course covers a special topic in Economics. Content relates to instructor's area of interest, thus the course varies in focus from year to year. Students require specific prerequisites for each course. Details are available from the student advisor or departmental website. The contact hours for this course may vary in terms of contact type (L,S,T,P) from year to year, but will be between 24-36 contact hours in total. See the UTM Timetable.

This course provides an introduction to capital markets and asset pricing. We will cover the role of financial markets, project valuation, expected utility and risk aversion, financial risk, general equilibrium pricing, the Capital Asset Pricing Model, Arbitrage Pricing Theory, derivatives, option pricing, term structure of interest rates, foreign exchange markets, and market efficiency.

This course provides an introduction to Corporate Finance. Topics covered include: project valuation, firm's capital structure, dividend policy, management control and agency problems, public share offerings, debt offerings and auctions, mergers and acquisition, bankruptcy costs, tax-influences and bank runs. This course is the sequel to ECO358H5.

Differences in income per capita levels and growth rates across countries are large. Understanding the causes behind these differences is a fundamental question in economics. The main objective of this course is to apply economic theory to understand and interpret empirical observations on economic development and growth. By the end of this course students will have a basic knowledge of the main facts characterizing economic development and growth over time and across countries, as well as the ability of theoretical models to account for these facts. The topics that will be covered in the course include the role of physical and human capital accumulation in growth and income differences, the reallocation of factors across sectors (structural transformation) and aggregate productivity, the importance of the misallocation of resources across heterogeneous firms in aggregate productivity. Key empirical applications include the growth performance of industrialized countries since World War II and the productivity slowdown observed in recent decades, the stagnation of living standards in many developing countries, and the role of automation and artificial intelligence in growth and development.

An analysis of the nature, effects and policy implications of international trade theory; the theories of comparative costs and reciprocal demands, factor reward equalization, international tariffs and customs unions.

An analysis of the nature, effects and policy implications of international finance; balance-of-payments and foreign exchange analysis; liquidity problems and topics related to current problems in international finance. 

The determinants of the boundary between organizations and markets. Problems of centralization vs. decentralization, authority, coordination and motivation within organizations. Incentives, ownership and property rights. The nature of the employment relationship: explicit and implicit contracts, compensation, relative performance evaluation, career paths, job assignments and promotion.