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Graduate Calendar Archives: 1998 / 1999 |
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EconomicsLoeb
Building C877 The DepartmentChair of the Department,
D.G. McFetridge The Department of Economics offers programs of study and research leading to the M.A. and Ph.D. degrees. Graduate students in economics undertake a thorough review of economic theory, together with an analysis of the Canadian economy, its institutions and history, and the working of public policy. Stress is placed on the understanding and application of quantitative methods to all aspects of economics. Although the programs are generally oriented towards policy problems, there is considerable opportunity for the development of specialized interests. The main areas of specialization within the Department include the following:
Qualifying-Year ProgramApplicants who have a general (3 year) bachelor’s degree, or who otherwise lack the required undergraduate preparation, may be admitted to a qualifying-year program designed to raise their standing to honours status. If successful, they may be permitted to proceed to the master’s program the following year. Refer to the General Regulations section of this Calendar for details of the regulations governing the qualifying year. Master of ArtsAdmission RequirementsThe normal requirement for admission to the master’s program is an Honours B.A. (or the equivalent) in Economics, with at least high honours standing. Applicants are expected to have had adequate preparation in microeconomic and macroeconomic theory, econometrics, and mathematics. This could be satisfied, for example, by the following four undergraduate courses: advanced microeconomic theory, advanced macroeconomic theory, econometrics, and mathematics for economists. Students with deficiencies in these requirements may have their program requirements extended accordingly. The Department may require certain applicants to write the Graduate Record Examination Aptitude Test and the Advanced Test in Economics offered by the Educational Testing Service. Program RequirementsAll master’s students in economics are required to complete the following courses: Economics 43.501, 43.502, 43.505 In addition, each candidate must select and complete one of the following:
Economics 43.593 is strongly recommended. Academic StandingA grade of B– or better must normally be received in each credit counted towards the master’s degree. With respect to the required credits in the program, there will be no exceptions. A candidate may, with the recommendation of the Department and the approval of the Dean of the Faculty of Graduate Studies and Research, be allowed a grade of C+ in 1.0 credit. Guidelines for Completion of Master’s DegreeFull-time master’s students are expected to complete their requirements within two terms. Part-time students will take a minimum of five terms but must complete within an elapsed period of six calendar years, as set out in this Calendar under General Regulations (see p. 66.) Doctor of PhilosophyThe doctoral program is offered jointly by the Departments of Economics at Carleton University and the University of Ottawa. The Ph.D program stresses the application of economic theory to the analysis of Canadian economic policy and economic development. Six areas of specialization are available for intensive study and thesis research: public economics, industrial organization, monetary economics, international economics, economic development, and economics of the environment. The program of courses and thesis guidance, drawing upon the faculty of the two Departments, will encompass course requirements, policy-oriented workshops, comprehensive examinations, and a thesis. Students are expected to have, or to acquire, proficiency in mathematics and statistics before proceeding with the program. In cases of exceptional merit, Ph.D. candidates may be accepted on a part-time basis. Admission RequirementsThe normal requirement for admission into the Ph.D. program is a master’s degree (or the equivalent) from a recognized university, with high honours standing. The Department may require certain applicants to write the Graduate Record Examination Aptitude Test and the Advanced Test in Economics offered by the Educational Testing Service. Transfer from Master’s to Ph.D. ProgramA student who shows outstanding academic performance, and who demonstrates high promise for advanced research during the master’s program may, subject to meeting the requirements below, be permitted to transfer into the Ph.D. program without completing the M.A. program;
Program RequirementsStudents admitted to the joint Ph.D program are required to complete 1.5 compulsory credits: microeconomic theory, macroeconomic theory, and advanced econometrics. Students are also required to do course work in two of six fields of specialization leading to field comprehensive exams and the writing of a thesis. To fulfil this requirement, students are expected to assimilate the material in 1.5 credits (or the equivalent) in each of two fields of specialization. However, the Department expects that a typical student entering the program with a completed M.A. will have taken the equivalent of 1.5 credits during his or her M.A. course work. If a student entering the program meets this expectation, the student is required to take only 1.5 credits (or the equivalent) over two fields of specialization. If the student’s background is not consistent with this expectation, the admissions committee may require, as a condition of entry, that a student take up to 1.5 additional credits. Courses in the fields of specialization will be: Public Economics
Industrial Organization
Monetary Economics
International Economics
Economic Development
Economics of the Environment
Comprehensive ExaminationsOral examinations are not compulsory, but a candidate may be required by the examining committee to sit an oral examination.
Each student will attend 43.690 (ECO7990), in preparation for the theory comprehensive examinations. There are two theory examinations, in micro-and macro-economics, to be written within twelve months of beginning full-time study.
Students will be required to write comprehensive examinations in two fields. Thesis and Workshop RequirementsThesis Doctoral students will write and defend a Ph.D. thesis. In preparing the thesis, the student is required to give two seminars in departmental workshops. In the first, a research proposal for the thesis will be presented and evaluated by three faculty members of the relevant workshop. In the second, a substantial portion of the research for the thesis will have been completed and will be presented and evaluated as above. The workshops are requirements for graduation, and students will receive 1.0 credit (or the equivalent) for them. Workshops Students are encouraged to attend and participate in the regular departmental workshops relevant to their fields of interest and research. Such workshops are conducted in six areas:
Further details about this joint Ph.D. program may be obtained by writing to the Director of Doctoral Studies, joint Ph.D. program in Economics, either at the Department of Economics, Carleton University, or at the Department of Economics/ Département de science economique, University of Ottawa. Academic StandingDoctoral students must normally obtain a grade of B– or better in each credit counted towards the degree. Guidelines for Completion of Ph.D. DegreeFull-time Ph.D. students are expected to complete their requirements within four calendar years. Students who undertake the program by a combination of full-time and part-time study must complete their degree requirements within an elapsed period of eight calendar years, as set out in this Calendar under General Regulations . Graduate CoursesNot all of the following courses are offered in a given year. For an up-to-date statement of course offerings for 1998-99, please consult the Registration Instructions and Class Schedule booklet published in the summer. F,W,S indicates term of offering. Courses offered in the fall and winter are followed by T. The number following the letter indicates the credit weight of the course: 1 denotes 0.5 credit, 2 denotes 1.0 credit. Enrolment in graduate courses requires the permission of the Department, through the supervisor of graduate studies. Economics
43.501F1 An examination of the theories of the behaviour of individual economic agents: consumers and producers and their relation to the theories of price determination. Economics
43.502F1 Macroeconomic theory and its implications for economic policy are surveyed in this course, comparing alternative approaches for a variety of topics. Economics
43.503W1 A continuation of Microeconomic Theory I. Economics
43.504S1 A continuation of Macroeconomic Theory I. Economics
43.505W1 Estimation and testing of the general linear model, with emphasis on problems such as auto-correlation, heteroscedasticity, multicollinearity, and problems due to distributed lags and errors in variables. Introduction to simultaneous equations systems, identification, and estimation. Economics
43.507F1, W1, S1 Prerequisite: Permission of the Department. Economics
43.508F1, W1, S1 Prerequisite: Permission of the Department. Economics
43.509F1, W1, S1 At least one
paper will be required from a student enrolled in any one of
these courses. Economics
43.511F1 A detailed examination of aspects and problems of the Canadian economy. A variety of topics may be discussed, including the economic development of Canada, the structure of the current national and regional economies, industrial organization, factor market operation, income distribution, the role of international trade and capital flows, and the stability of the economy. Economics
43.512W1 Economic theory applied to the workings of the Canadian economy. Empirical estimation of various aspects of factor market operation, production, distribution, and aggregate economy. Participants are expected to prepare and present papers for discussion. Economics
43.521F1 The crucial
achievements in economic theory and doctrine in the nineteenth
and twentieth centuries are studied. Special emphasis is given to
the interrelationship between the social environment and economic
thought — especially to the role of economics in the
development of the national state and international institutions. Economics
43.522W1 A continuation of
43.521. Economics
43.525F1 (ECO7125; 7525) General equilibrium; dynamic optimization; game-theory. Economics
43.531F1 (ECO6140; 6540) An examination of theories pertaining to industrial organization, and their application to particular industries in Canada and elsewhere by way of empirical studies. Economics
43.532W1 (ECO6141; 6541) An examination of the rationale and application of competition policy with particular attention to the Canadian economy. Economics
43.533S1 (ECO6142; 6542) An examination of regulation and public enterprise as alternative approaches for influencing industry conduct and performance. Economics
43.535F1 (ECO6143; 6543) Dynamic optimization; theory of renewable and non-renewable natural resources, including the environment; policy options for correcting market failures. Economics
43.536F1,W1 (ECO6151; 6551) The environment
as natural capital; environmental valuation techniques; elements
of environmental income accounting; sustainable development
theories and practice; institutional questions and policy issues. Economics
43.538W1 This is a course in the interrelationship of law and economics, emphasizing the concepts of transaction costs and property rights. Economic theory will be used to analyze a variety of topics, ranging from the allocative effects of alternative property rights structures to contract, tort, and nuisance law. Special attention will be given to applied problems, such as the economics of crime, pollution, pay television, and eminent domain. Economics
43.539W1 This course examines the application of industrial economics, with special emphasis on the Canadian and North American economies. Topics include the structure of consumer demand, firm production and investment, industrial structure and international trade. The structure of production and investment of particular industries will be analyzed and the effect of government policies (such as tax and tariff) on industrial development will be examined. Economics
43.541F1 (ECO6130; 6530) A discussion of the role of government expenditure, both in theory and with reference to the Canadian economy. Economics
43.542W1 (ECO6131; 6531) An analysis of the effects of various forms of taxation on economic performance. Economics
43.543W1 (ECO6133; 6533) Democracy, bureaucracy, and economic policy. The public choice of fiscal constitutions, tax shares, and equity rules; voting coalitions and income distribution; the public provision of private goods; public sector size, fiscal illusion, and taxpayer revolts. Economics
43.544W1 (ECO6132; 6532) This course examines the economic aspects of federalism, including efficiency, redistribution, consideration of a federal system of government, intergovernmental grants, and problems of stabilization policy in a federal context. Economics
43.545W1 A rigorous treatment of the theoretical foundations of welfare economics. Economics
43.547W1 An analytical
treatment of the principles of project evaluation and their
applications. Economics
43.550F1 (ECO6170; 6570) This course will deal with theoretical approaches in the economic development literature in relation to the historical, economic, environmental, social, and political dimensions of the development process. Economics
43.551F1 An analysis of
the nature and causes of fluctuations in income, prices, and
employment. Shortrun dynamic models arising from
multiplier-accelerator and other economic processes will be
examined. Cycle simulation, forecasting, stability conditions,
anti-cyclical policy, and the problems of maximizing growth
without cycles will be discussed. Economics
43.552W1 An examination of
modern theories of economic growth. Economics
43.553W1 An examination of
policies aimed at achieving internal and external stability. The
implications of economic growth for stabilization policies will
be discussed. Economics
43.554W1 (ECO6171; 6571) An analysis of major domestic problems of economic development. Topics may include employment, income distribution, choice of technology, sectoral allocation of resources, human resource development, and domestic environmental issues. Economics
43.555F1 (ECO6172; 6572) An analysis of key problems of international economic development such as trade in primary commodities and manufactures, financial flows and debt, the role of multinational corporations, the transfer of technology, and the international dimensions of environmental issues as they relate to the developing countries. Economics
43.557W1 (ECO6173; 6573) Policy aspects of sustainable economic development and environmental quality in developing countries. Topics to include energy use, deforestation, drought and desertification, depletion of natural resources, debt, environment and poverty, sustainable industrial and agricultural development, conservation policies, pollution control, and global environmental issues. The course could be offered in lecture or seminar format. Economics
43.561F1 (ECO6160; 6560) International trade theory and its implications for economic policy are examined, with emphasis on topics such as determinants of trade and specialization, gains from trade and commercial policy, international factor mobility, growth, and development. Economics
43.562W1 (ECO6161; 6561) International monetary theory and its implications for economic policy are examined, with emphasis on topics such as sources of equilibrium and disequilibrium in the balance of payments, balance-of-payments adjustment under fixed versus flexible exchange rates, international capital movements, and recent issues in the international monetary system. Economics
43.563W1 (ECO6162; 6562) An examination of
key topics in international economics, including theoretical
analysis, quantitative methods and policy formulation,
implementation, and evaluation. Economics
43.566F1 (ECO6180; 6580) A course on the microeconomic foundations of monetary theory concerned with alternative theories for the existence of money, and ranging in coverage from commodity monies to private monies with banking systems to costless fiat money systems. The focus of the course will be on how money integrates with the theory of value and the different theoretical ways in which this integration has been modelled. Economics
43.567W1 (ECO6181; 6581) A course in monetary theory that deals with the macroeconomic interactions of money. Issues will include such topics as: inflation, money and wealth; the optimum quantity of money; the welfare aspects of monetary economies; the supply of money and its composition; stabilization policy; money, capital, and growth. Economics
43.568F1 (ECO6182; 6582) The evolution of the financial system with special emphasis on the theory of financial institutions and its interrelationship with the money supply process and the central bank. The course is designed to use contemporary monetary and finance theory to analyze institutional problems in both their historical and contemporary settings. Economics
43.569W1 (ECO6183; 6583) A course in which explorations in theory, policy recommendations, and empirical study are undertaken. The material challenges traditional approaches by examining such topics as the endogeneity of money, the role of credit, the finance motive, the circuit approach, flow of funds analysis, and austerity policies. Economics
43.571F1 (ECO7126; 7526) Selected topics
from estimating and testing the regression and simultaneous
equation models are analyzed. The main topics include maximum
likelihood estimation, statistical analysis of residuals,
autoregressive and other time-series models, multivariate
regression model, and elements of asymptotic statistical theory
within the context of the simultaneous equation model. Economics
43.572W1 A discussion of
the major problems encountered in applying the tools and
techniques of econometric methods to statistical data for
economic analysis and forecasting. Some selected topics and
papers from the applied econometric literature are critically
analyzed and appraised. Economics
43.573W1 Introduces the
basic concepts of time series analysis with emphasis on models
used in economics. Topics include stationary and nonstationary
time series, model identification and estimation, transfer
functions, and forecast computation. Economics
43.581F1 Regional economic disparities in Canada, theories and public policy relating thereto. Consideration will be given to the concept of regions, location of industry and industrial structure, and to growth determinants. Economics
43.582W1 An examination of the economic properties of urban areas. Attention will be focused on the macrodynamics of urban development, together with the microstatics of the equilibrium properties of the urban land market. Economics
43.586F1 This course
builds a framework for the study and comparison of economic
systems. Using basic economic tools, it discusses the properties
and comparative advantages of different contemporary economies,
as well as the forces that cause or prevent change. Some Marxian
theory will be included, along with analyses of the role of
property rights, of incentives and motivation, and of the
interaction between economic and political systems. Economics
43.587W1 A comparison of
contemporary economic systems. Such diverse economies as Japan,
West Germany, Sweden, the USSR, China, Cuba, Yugoslavia, and
Hungary may be explored. Economics
43.593F1 This course provides a rigorous review of mathematical techniques in economics, such as: matrix algebra, static optimization, nonlinear programing, and difference and differential equations. It then introduces the theory of optimal control, dynamic programing, and real analysis. Applications of these tools to various parts of economic theory are presented. Economics
43.599F3, W3, S3 Economics
43.600W1 (ECO7922) An examination of
critical aspects of microeconomic theory drawn from recent
analysis of consumer behaviour, costs and production, transaction
costs, uncertainty, and the organization of economic activity. Economics
43.601W1 (ECO7923) An examination of
critical aspects of macroeconomic theory drawn from recent
analysis of the microeconomic foundations of macroeconomics,
concepts of macroeconomic equilibrium and the impact of monetary
and fiscal disturbances. Attention is also directed to a variety
of topics related to the conduct of macroeconomic policy. Economics
43.611F1, W1, S1 (ECO7002; 7004) See requirements under Thesis and Workshop Requirements. Economics
43.670F1, W1, S1 (ECO7980) Prerequisite: Permission of the Department. Economics
43.690W1, S1 (ECO7990) Students must register in the microeconomics and macroeconomics tutorials in either the winter or spring term. Economics
43.699F10, W10, S10 (ECO9999) |
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