Economics


Faculty List

University Professor Emeritus 
S. Hollander, OC, BScEcon, PhD, LLD, FRSC 

Professors Emeriti 
G. Anderson, MSc, PhD (University of Toronto Mississauga) 
R.A. Berry, BA, PhD 
J.D. Bossons, AM, PhD 
J.L. Carr, MA, PhD 
F.R. Casas, MSc, PhD 
J.S. Cohen, MA, PhD 
D.N. Dewees, BSc, LL B, PhD 
M. Faig, MA, PhD (University of Toronto Mississauga) 
J.E. Floyd, MA, PhD 
D.K. Foot, AM, PhD 
M.A. Fuss, MA, PhD 
M. Gunderson, MA, PhD, FRSC 
M.J. Hare, BCom 
G.K. Helleiner, OC, MA, PhD, FRSC 
S. Howson, MA, PhD 
G. Indart, MA, PhD 
Y. Kotowitz, BA, PhD 
A.M. Kruger, BA, PhD 
G.F. Mathewson, BCom, PhD 
M.J. Osborne, BA, PhD 
C. Pitchik, MSc, PhD (University of Toronto Mississauga) 
K.J. Rea, MA, PhD 
F.J. Reid, MSc, PhD
A. Siow, BA, PhD 
L.B. Smith, AM, PhD 
L. Waverman, MA, PhD 
T.A. Wilson, AM, PhD, FRSC 
J.W.L. Winder, MA, PhD 
X. Zhu, MS, PhD (University of Toronto Mississauga) 

Professor and Chair of the Department 
E. Damiano, MA, PhD 

Associate Professor and Associate Chair, Graduate Studies 
R. McMillan, BA, PhD (University of Toronto Mississauga) 

Professor, Teaching Stream and Associate Chair, Undergraduate Studies 
R. Gazzale, MA, PhD 

University Professor 
M. Trebilcock, FRSC, LLM 

Professors 
V. Aguirregabiria, MSc, PhD 
V.A. Aivazian, BS, PhD (University of Toronto Mississauga) 
M. Alexopoulos, MA, PhD 
M. Baker, MA, PhD 
H.D. Benjamin, MA, PhD 
G. Bobonis, BA, PhD 
L. Brandt, BS, PhD
G. Carroll, BA, PhD 
R. Deb, MA, M Phil, PhD (University of Toronto Mississauga) 
M. Duarte, MA, PhD (University of Toronto Mississauga) 
C. Gourieroux, PhD 
Y. Halevy, MA, PhD 
G. Kambourov, MA, PhD (University of Toronto Mississauga)
K. Kroft, MA, PhD 
A. Melino, BA, PhD (University of Toronto Mississauga)
J. Mondria, MA, PhD 
I. Mourifié, MSc, PhD 
P. Oreopoulos, MA, PhD (University of Toronto Mississauga)
R. Owen, MA, PhD 
M. Peski, MA, PhD 
D. Restuccia, MA, PhD 
X. Shi, MA, PhD (University of Toronto Mississauga) 
M. Smart, MA, PhD 
C. Stewart, MA, PhD 
D. Trefler, MA, PhD 
A.J. Yatchew, MA, PhD 

Professors, Teaching Stream 
R. Gazzale, MA, PhD
J. Murdock, M Phil, PhD 

Associate Professors 
A. Blouin, MA, PhD
M. Burda, MA, PhD 
S. Eli, BA, PhD 
G. Hamilton, MA, PhD 
J. Gu, BS, MA, PhD (University of Toronto Mississauga)
B. Kuruscu, MA, PhD 
Y. Luo, MA, PhD 
R. McMillan, BA, PhD (University of Toronto Mississauga)
P. Morrow, MA, PhD 
E. Souza Rodrigues, MA, MSc, MPhil, PhD (University of Toronto Mississauga) 
J. Steinberg, BA, PhD 
Y. Wan, MA, PhD 
R. Wolthoff, MSc, PhD (University of Toronto Mississauga) 

Associate Professors, Teaching Stream 
L. Bailey, BA, MA (University of Toronto Mississauga) 
K. Freitas, BSc, PhD 
S.A. Hussain, MA, PhD 
K. Yu, MA, PhD (University of Toronto Mississauga) 

Assistant Professors 
C. Arteaga, MA, PhD (University of Toronto Mississauga) 
C. Baysan, MS, PhD 
M. Celik, BA, PhD 
Y. Chen, BA, MA, PhD 
S. Dyrda, MA, PhD (University of Toronto Mississauga) 
A. Farhoodi, BSc, MSc, PhD 
J. Hall, BA, PhD 
M. Koffi, BSc, MSc, PhD 
K. Lim, MA, PhD 
D. Price, BS, MA, PhD (University of Toronto Mississauga) 
M. Rempel, MA, PhD (University of Toronto Mississauga) 
A. Roesler, MSc, PhD 
M. Stepner, BA, PhD 
A. Tsoy, MA, PhD 
C. Van Effenterre, MA, PhD 
N. Vellekoop, LL.M, MSc, PhD 
E. Vivalt, M Phil, MA, PhD 
T. Wang, MA, PhD 
R. Zarate, BA, MA, PhD (University of Toronto Mississauga) 
Y. Zhao, BSc, MSc, PhD (University of Toronto Mississauga) 

Assistant Professors, Teaching Stream 
O. Denislamova, MA, PhD 
N. Khazra, BSc, MSc, PhD 
K. Ugarte-Bravo, MA, PhD 
C. Ward, BA, MA, PhD 
A. Weisbrod, PhD (University of Toronto Mississauga) 
N. Zammit, MA, PhD (University of Toronto Mississauga) 

Adjunct Associate Professor 
D.P. Dungan, MA, PhD 

Sessional Lecturers 
M. Anjomshoa, MA, M Phil 
R. Barber, MA, LL.M 
C. D'Souza, BA, PhD 
K. Furlong, MA, PhD 
N. Soboleva, MSc/BSc, MA, MA/Phil, PhD 
A. Yang, MBA, MS, PhD 

Introduction

Economics is a social science that encompasses a broad range of human behaviour and has a strong influence on the structure, well-being and development of a society.

Much of human activity is directed towards the satisfaction of material wants. In many areas of the world, the greater part of human effort must be directed towards meeting the most elemental demands for food, clothing, and shelter. Even in technologically advanced societies, where these basic requirements can be met with comparative ease, the desire for more goods and services never appears to be fully satisfied. In consequence, every society - whatever its political orientation - is both competitive and cooperative. It is competitive because its members contend with one another to satisfy their individual wants from a limited supply of productive resources. It is cooperative because the greatest supply of goods is available when the activity of producing them is coordinated and organized. Economics deals with any issue arising out of the conflict between the demand for goods and services, and a limited supply of resources to satisfy those demands.

Undergraduate training in economics is intended to familiarize students with the discipline of economic thinking, to equip them to better understand human behaviour, and for the intelligent appraisal of contemporary economic problems.

Economics makes considerable use of mathematics in its enquiries. All economics programs require at least one course in mathematics.

An undergraduate degree is generally not sufficient to become a professional economist. For this or other reasons, graduate work may be necessary. Students who wish to do graduate work should seek advice from the Department concerning their choice of courses. The Economics Specialist and the Economics and Mathematics programs, with their greater emphasis on mathematics, are designed to prepare students for graduate study, and are excellent starting points. Appropriate coursework can certainly be achieved, however, through the Economics Major, often in combination with another program.

Undergraduate Administrator: S. Wong, ugadministrator.economics@utoronto.ca

Undergraduate Assistant: A. Hughes, ugassistant.economics@utoronto.ca

Inquiries: 150 St. George Street (416-978-4603)

Website: https://uoft.me/eco

 

Regarding Economics Programs

These are limited enrolment programs. All students who request the program and obtain at least the specified mark(s) in the required course(s) will be eligible to enrol (please read entry requirements for each program carefully). Consult the Arts & Science Program Toolkit for details and instructions.

NOTE: Please read prerequisites and exclusions carefully. Course prerequisites are strictly enforced and are not just “recommended preparation.” For all mathematics and statistics course prerequisites, the level of the course is also important. For all third- and fourth-year economics courses, FULL YEAR (Y-course, 1.0 credit) intermediate course prerequisites are mandatory: a similar “half course” (H-course, 0.5 credit) version is not acceptable. All prerequisites must be fully completed BEFORE a course can be taken. Courses that are prerequisites cannot be taken simultaneously with the courses for which they are a prerequisite (i.e., they are not "co-requisites"). Students from other institutions must show their transcripts to the department if they are using prior courses as prerequisites. The same rules apply.

Economics Programs

Financial Economics Specialist (Science Program) - ASSPE2722

Enrolment Requirements:

This is a limited enrolment program. Students must meet the requirements listed below to enrol.

A minimum grade is needed for entry, and this minimum changes each year depending on available spaces and the number of applicants. The following courses must be completed:

Completed courses (with minimum grades)
The following courses with the stated minimum grades are required:

ECO206Y1(80%)
ECO208Y1(80%)
ECO227Y1(80%)/ ( STA257H1(80%), STA261H1(80%))

To ensure that students admitted to the program will be successful, applicants with a final grade lower than 80% will not be considered for admission. Please note that obtaining this minimum final grade does not guarantee admission to the program.

Special Requirement

• In order to apply for the Financial Economics Specialist Program, a student must first be enrolled in the Economics Major (ASMAJ1478). Upon acceptance to the Financial Economics Specialist Program, your Specialist enrolment will replace your Economics Major.
• Students enrolled in this program cannot be simultaneously enrolled in any other Economics program or the Environmental Economics minor.

Students in this program have the option to request enrolment in the Arts & Science Internship Program (ASIP) stream. Students can apply for the ASIP stream after Year 1 (Year 2 entry) or after Year 2 (Year 3 entry, starting Fall 2024). Full details about ASIP, including student eligibility, selection and enrolment, are available in the ASIP section of the Arts & Science Academic Calendar. Please note that the majority of students enter ASIP in Fall term of Year 2. Space is more limited for Year 3 entry. Students applying for Year 3 entry must have been admitted to the Financial Economics Specialist in the Summer after Year 2. Financial Economics Specialist students also enrolled in Rotman Commerce are not eligible to join the ASIP stream. ASIP students enrolled in the Economics Major can transfer to the ASIP stream of the Financial Economics Specialist without needing to reapply to ASIP.

Completion Requirements:

Program Course Requirements: 13.0 credits

First Year (2.0 credits):

  1. ECO101H1, ECO102H1
  2. ( MAT135H1, MAT136H1)/ MAT137Y1/​ MAT157Y1

Note: MAT133Y1 is not a suitable substitute for ( MAT135H1, MAT136H1)/ MAT137Y1/​ MAT157Y1.

Second Year (Core Courses, 3.0 credits):

Third Year (Core Courses, 2.5 credits):

  1. ECO325H1, ECO326H1, ECO375H1
  2. ECO358H1, ECO359H1

Third Year and Higher (Electives, 5.5 credits, at least 1.0 credit at the 400-level):

  1. 1.0 credit from ECO349H1, ECO356H1, ECO440H5, ECO456H1, ECO461H1/​ ECO460H5, ECO462H1, ECO464H1, ECO465H1, ECO475H1
  2. 4.5 additional credits from 300+ level ECO courses

Students in this program have the option to complete the Arts & Science Internship Program (ASIP) stream.

Notes:

  1. A minimum of 70% is required in ECO101H1 and ECO102H1 to meet prerequisites for specialist-level intermediate ECO courses ( ECO206Y1, ECO208Y1, ECO227Y1).
  2. Some required courses at upper-year levels may be offered only on the St. George or on the University of Toronto Mississauga campus in any given year. Students registered in this program at either campus may have to attend lectures on the other campus in such cases.
  3. MAT221H1/​ MAT223H1/​ MAT240H1 is recommended as preparation for ECO375H1. Students taking one of these MAT courses can have it count in lieu of a 0.5 300-level ECO course required for this program.
  4. ( MAT235Y1/​ MAT237Y1)/ ECO210H1 is strongly recommended for this program. Students taking one of these courses can have it count in lieu of 0.5 300-level course required for this program.
  5. ECO475H1 is strongly recommended.
  6. STA302H1/​ STA303H1 are not accepted in lieu of ECO375H1.
  7. CSC108H1/​ CSC148H1/​ CSC110Y1 (introductory programming) is strongly recommended for students interested in graduate studies.

Economics & Mathematics Specialist (Science Program) - ASSPE2599

Enrolment Requirements:

This is a limited enrolment program. Students must meet the requirements listed below to enrol.

Completed courses (with minimum grades)
The following courses with the stated minimum grades are required:

ECO206Y1(70%)
ECO208Y1(70%)
MAT137Y1 (60%)/ MAT157Y1(60%).

Special Requirement

• In order to apply for the Economics and Mathematics Specialist Program, a student must first be enrolled in the Economics Major (ASMAJ1478) or Mathematics Major (ASMAJ1165). Upon acceptance to the Economics and Mathematics Specialist Program, your Specialist enrolment will replace your Economics Major.
• Students enrolled in this program cannot be simultaneously enrolled in any other Economics program or the Environmental Economics minor.

Students in this program have the option to request enrolment in the Arts & Science Internship Program (ASIP) stream. Students can apply for the ASIP stream after Year 1 (Year 2 entry) or after Year 2 (Year 3 entry, starting Fall 2024). Full details about ASIP, including student eligibility, selection and enrolment, are available in the ASIP section of the Arts & Science Academic Calendar. Please note that the majority of students enter ASIP in Fall term of Year 2. Space is more limited for Year 3 entry. Students applying for Year 3 entry must have been admitted to the Economics & Mathematics Specialist in the Summer after Year 2. Economics & Mathematics Specialist students also enrolled in Rotman Commerce are not eligible to join the ASIP stream. ASIP students enrolled in the Economics Major can transfer to the ASIP stream of the Economics & Mathematics Specialist without needing to reapply to ASIP.

Completion Requirements:

Program Course Requirements: 13.0 credits

First Year (2.0 credits):

  1. ECO101H1, ECO102H1
  2. MAT137Y1/​ MAT157Y1

Second Year and Higher (Core Courses, 8.5 credits):

  1. ECO206Y1, ECO208Y1, ECO220Y1/​ ECO227Y1/​ ( STA257H1, STA261H1)
  2. 0.5 credit from: CSC108H1/​ CSC148H1/​ CSC110Y1
  3. MAT223H1/​ MAT240H1, MAT224H1/​ MAT247H1, MAT237Y1/​ MAT257Y1, MAT246H1
  4. ECO325H1, ECO326H1, ECO375H1
  5. MAT337H1/​ MAT357H1, APM462H1

Third Year and Higher (Elective Courses, 2.5 credits):

  1. 0.5 credit 300+ level ECO course
  2. 1.0 credit from 400-level ECO courses
  3. 1.0 credit from 300-level or higher MAT (or APM) courses (in addition to APM462H1).

Students in this program have the option to complete the Arts & Science Internship Program (ASIP) stream.

Notes:

  1. A minimum of 70% is required in ECO101H1 and ECO102H1 to meet prerequisites for specialist-level intermediate ECO courses ( ECO206Y1, ECO208Y1, ECO227Y1).
  2. Students must meet all prerequisites for upper-year math courses, and should choose their sequencing of courses accordingly.
  3. CSC108H1/​ CSC148H1/​ CSC110Y1 may be taken in First Year.
  4. MAT223H1/​ MAT240H1 may be taken in First Year.
  5. ECO475H1 is strongly recommended.
  6. STA302H1/​ STA303H1 are not accepted in lieu of ECO375H1.
  7. Students with MAT157Y1 cannot take MAT246H1 (it is an exclusion). Such students can instead substitute any 300-level MAT or APM course to meet the MAT246H1 requirement.

Economics Specialist (Arts Program) - ASSPE1478

Enrolment Requirements:

This is a limited enrolment program. Students must meet the requirements listed below to enrol.

Completed courses (with minimum grades)
The following courses with the stated minimum grades are required:

ECO206Y1 (70%)
ECO208Y1 (70%)
ECO220Y1(70%)/ ECO227Y1(70%)/ ( STA257H1(70%), STA261H1(70%))

Special Requirement
• In order to apply for the Economics Specialist Program, a student must first be enrolled in the Economics Major (ASMAJ1478). Upon acceptance to the Economics Specialist Program, your Specialist enrolment will replace your Economics Major.
• Students enrolled in this program cannot be simultaneously enrolled in any other Economics program or the Environmental Economics minor.

Students in this program have the option to request enrolment in the Arts & Science Internship Program (ASIP) stream. Students can apply for the ASIP stream after Year 1 (Year 2 entry) or after Year 2 (Year 3 entry, starting Fall 2024). Full details about ASIP, including student eligibility, selection and enrolment, are available in the ASIP section of the Arts & Science Academic Calendar. Please note that the majority of students enter ASIP in Fall term of Year 2. Space is more limited for Year 3 entry. Students applying for Year 3 entry must have been admitted to the Economics Specialist in the Summer after Year 2. Economics Specialist students also enrolled in Rotman Commerce are not eligible to join the ASIP stream. ASIP students enrolled in the Economics Major can transfer to the ASIP stream of the Economics Specialist without needing to reapply to ASIP.

Completion Requirements:

Program Course Requirements: 12.0 credits

First Year (2.0 credits):

  1. ECO101H1, ECO102H1
  2. ( MAT135H1, MAT136H1)/ MAT137Y1/​ MAT157Y1

Note: MAT133Y1 is not a suitable substitute for ( MAT135H1, MAT136H1)/ MAT137Y1/​ MAT157Y1.

Second Year (Core Courses, 3.0 credits):

Third Year (Core Courses, 1.5 credits):

Third Year and Higher (ECO Electives, 5.5 credits):

  1. 4.5 credits from 300-level or higher ECO courses
  2. 1.0 credit from 400-level ECO courses

Students in this program have the option to complete the Arts & Science Internship Program (ASIP) stream.

Notes:

  1. A minimum of 70% is required in ECO101H1 and ECO102H1 to meet prerequisites for specialist-level intermediate ECO courses ( ECO206Y1, ECO208Y1, ECO227Y1).
  2. ECO210H1 is highly recommended, especially for students interested in graduate studies. Students may count ECO210H1 towards the Specialist program in lieu of a 0.5 credit 300-level ECO elective.
  3. While 200-level or higher math or statistics courses may complement the Economics Specialist courses, they cannot be used as substitutes for economics courses in this program.
  4. Students are nevertheless encouraged to take more math if they plan on pursuing graduate studies. Students should especially consider MAT221H1/​ MAT223H1/​ MAT240H1 (Linear Algebra), MAT235Y1/​ MAT237Y1 (Multivariate Calculus), MAT246H1 (Abstract Mathematics), or even consider doing a Minor program in Mathematics.
  5. ECO475H1 is strongly recommended.
  6. STA302H1/​ STA303H1 are not accepted in lieu of ECO375H1.
  7. ( STA237H1, STA238H1) are not accepted in lieu of ECO220Y1/​ ECO227Y1/​ ( STA257H1, STA261H1).
  8. CSC108H1/​ CSC148H1/​ CSC110Y1 (introductory programming) is strongly recommended for students interested in graduate studies.

Focus in Data Analytics (Specialist) - ASFOC1478A

Students in the Economics Specialist program who undertake a Focus in Data Analytics will gain advanced ability in applied empirical economics. The Focus (for specialists) provides students with hands-on exposure to the tools empirical economists use to build and analyze datasets - programming languages such as Python, and software programs to manage, statistically analyze, and visualize data such as Excel, GIS, Stata and R. The Specialist Focus will also direct students to required and elective empirical economics courses that apply these tools in a wide variety of contexts.


Enrolment Requirements:

Enrolment in the Economics Specialist program (ASSPE1478) is required.

Completion Requirements:

(5.0 credits)

  1. 0.5 credit from: CSC108H1, CSC110Y1, CSC148H1
  2. ECO225H1/​ GGR272H1/​ JSC270H1
  3. ECO372H1
  4. ECO374H1
  5. ECO475H1
  6. 2.0 credits of 300+ ECO elective courses from: ECO310H1, ECO334H1, ECO339H1, ECO340H1, ECO353H1, ECO354H1, ECO367H1, ECO380H1 (or the 400-level courses listed below (#7))
  7. 0.5 credit 400-level ECO course from: ECO401H1, ECO403H1, ECO404H1, ECO418H1, ECO439H1, ECO446H1, ECO464H1, ECO466H1, ECO480H1, ECO481H1, ECO482H1, ECO483H1, ECO499H1

Economics Major (Arts Program) - ASMAJ1478

Enrolment Requirements:

This is a limited enrolment program. Students must have completed 4.0 credits and meet the requirements listed below to enrol.

Completed courses (with minimum grades)
The following courses with the stated minimum grades are required:

• ( ECO101H1 (63%), ECO102H1 (63%))/ ECO105Y1 (80%)
MAT133Y1 (63%)/( MAT135H1 (60%), MAT136H1 (60%))/ MAT137Y1 (55%)/ MAT157Y1 (55%)

Students in this program have the option to request enrolment in the Arts & Science Internship Program (ASIP) stream. Students can apply for the ASIP stream after Year 1 (Year 2 entry) or after Year 2 (Year 3 entry, starting Fall 2024). Full details about ASIP, including student eligibility, selection and enrolment, are available in the ASIP section of the Arts & Science Academic Calendar. Please note that the majority of students enter ASIP in Fall term of Year 2. Space is more limited for Year 3 entry and there are program-specific year 3 entry enrolment requirements. Students applying for Year 3 entry must have been admitted to the Economics Major in the Summer after Year 2 and have completed the following courses prior to ASIP entry, with the posted minimum grades: ECO200Y1(60%) or ECO206Y1(50%), ECO220Y1(60%) or ECO227Y1(50%) or STA237H1(60%), STA238H1(60%) or STA247H1(60%), STA248H1(60%) or STA257H1(50%), and STA261H1(50%). Economics Major students also enrolled in Rotman Commerce are not eligible to join the ASIP stream.

Completion Requirements:

Program Course Requirements: 7.0 credits

First Year (2.0 credits):

  1. ( ECO101H1, ECO102H1)/ ECO105Y1;
  2. MAT133Y1/​( MAT135H1, MAT136H1)/ MAT137Y1/​ MAT157Y1

Second Year (Core Courses, 3.0 credits):

  1. ECO200Y1/​ ECO204Y1/​ ECO206Y1,
  2. ECO202Y1/​ ECO208Y1/​ ECO209Y1,
  3. ECO220Y1/​ ECO227Y1/​ ( STA237H1, STA238H1)/ ( STA247H1, STA248H1)/ ( STA257H1, STA261H1)

Third and Higher Years (ECO Electives, 2.0 credits):

  1. 1.5 credits from 300+ level ECO courses
  2. At least a 0.5 credit 400-level ECO course

Students in this program have the option to complete the Arts & Science Internship Program (ASIP) stream.

Notes:

  1. Eligibility for all Economics programs is based, in part, on attaining a minimum grade in ECO101H1 and ECO102H1 (or ECO105Y1). Students are reminded that in order to achieve the required minimum grade in the above-mentioned courses, they may repeat a specific passed course only once as per Faculty regulations.
  2. Students in the Major program considering graduate studies in Economics are advised to take the more mathematical stream courses ( ECO206Y1, ECO208Y1), and also some or all of the 300-level advanced micro, macro, and econometrics sequence ( ECO325H1, ECO316H1/​ ECO326H1, and ECO375H1).
  3. Students considering graduate studies in Economics are also encouraged to take more than the minimum amount and level of math. Students should especially consider MAT221H1/​ MAT223H1/​ MAT240H1 (Linear Algebra), MAT235Y1/​ MAT237Y1 (Multivariate Calculus), MAT246H1 (Abstract Mathematics), or even consider doing a Minor program in Mathematics.
  4. STA220H1 and STA255H1 are not accepted for the major.
  5. Students enrolled in this program cannot be simultaneously enrolled in any other Economics program or the Environmental Economics minor.

Focus in Data Analytics (Major) - ASFOC1478B

The Focus in Data Analytics (major) ensures that students gain proficiency in applied empirical economics. It provides students with hands-on exposure to the tools empirical economists use to build and analyze datasets - programming languages such as Python, and software programs to manage, statistically analyze, and visualize data such as Excel, GIS, Stata and R. The focus will also direct students to empirical economics courses that apply these tools in a wide variety of contexts.


Enrolment Requirements:

Enrolment in the Economics Major program (ASMAJ1478) is required.

Completion Requirements:

(3.0 credits)

  1. 0.5 credit from: CSC108H1, CSC110Y1, CSC148H1
  2. ECO225H1/​ GGR272H1/​ JSC270H1
  3. ECO372H1
  4. 1.0 credit of 300+ ECO elective courses from: ECO310H1, ECO334H1, ECO339H1, ECO340H1, ECO353H1, ECO354H1, ECO367H1, ECO374H1, ECO375H1, ECO380H1 (or the 400-level courses listed below (#5))
  5. 0.5 credit 400-level ECO course from: ECO401H1, ECO403H1, ECO404H1, ECO418H1, ECO439H1, ECO446H1, ECO464H1, ECO466H1, ECO475H1, ECO480H1, ECO481H1, ECO482H1, ECO483H1, ECO499H1

Economics Minor (Arts Program) - ASMIN1478

Enrolment Requirements:

This is a limited enrolment program. Students must have completed 4.0 credits and meet the requirements listed below to enrol.

Completed courses (with minimum grades)
The following courses with the stated minimum grades are required:

ECO101H1 (63%) and ECO102H1 (63%)/ ECO105Y1 (80%)
MAT133Y1 (63%)/( MAT135H1 (60%) and MAT136H1 (60%))/ MAT137Y1 (55%)/ MAT157Y1 (55%)


Completion Requirements:

Program Course Requirements: 4.0 credits

First Year (2.0 credits):

  1. ( ECO101H1 and ECO102H1)/ ECO105Y1
  2. MAT133Y1/​( MAT135H1 and MAT136H1)/ MAT137Y1/​ MAT157Y1

Second Year (Core Courses, 1.0 credit):

Third and Higher Years (ECO Electives, 1.0 credit):

  • 1.0 credit from 300+ level ECO courses

Notes:

  1. Students enrolled in this program cannot be simultaneously enrolled in any other Economics program or the Environmental Economics minor.
  2. Eligibility for all Economics programs is based, in part, on attaining a minimum grade in ECO101H1 and ECO102H1 (or ECO105Y1). Students are reminded that in order to achieve the required minimum grade in the above-mentioned courses, they may repeat a specific passed course only once as per Faculty regulations.
  3. Many 300-level and higher courses in economics require ECO220Y1. While not a formal part of the Economics Minor program, students MUST meet the specified prerequisites for 300+ economics courses, and should seriously consider taking ECO220Y1.

 

Other Programs

Economics Courses

ECO101H1 - Principles of Microeconomics

Hours: 24L/12T

An introduction to economic analysis and its applications: price determination, market structure, decision making by individuals and firms, public policy. NOTE: extensive use of graphical and quantitative analysis.

Exclusion: ECO105Y1, ECO100Y5, ECO101H5, MGEA01H3, MGEA02H3, PPG201H1
Recommended Preparation: MCV4U (Calculus & Vectors) and MHF4U (Advanced Functions), or equivalent secondary school mathematics credits
Breadth Requirements: Society and its Institutions (3)

ECO102H1 - Principles of Macroeconomics

Hours: 24L/12T

An introduction to economic analysis and its applications from a macroeconomic (economy-wide) perspective. Topics covered include international trade and finance, role of money and the banking system, monetary and fiscal policy. Note: graphical and quantitative analysis are used extensively.

Prerequisite: ECO101H1/ ECO101H5/ MGEA02H3
Exclusion: ECO105Y1, ECO100Y5, ECO102H5, MGEA05H3, MGEA06H3
Recommended Preparation: MCV4U (Calculus & Vectors) and MHF4U (Advanced Functions), or equivalent secondary school mathematics credits
Breadth Requirements: Society and its Institutions (3)

ECO105Y1 - Principles of Economics for Non-Specialists

Hours: 48L/24T

Fundamentals for consumers, businesses, citizens. Microeconomics focuses on cost/benefit analysis: gains from trade, price coordination, competition/monopoly, efficiency/equity tradeoffs, government/market failures, environmental policies, income/wealth distributions. Macroeconomics focuses on: GDP growth, unemployment, inflation, monetary/fiscal policies, business cycles, exchange rates, government deficits/debt, globalization. Emphasizes economic literacy, fewer mathematical tools than ECO101H1, ECO102H1.

Exclusion: ECO101H1, ECO102H1, ECO100Y5, ECO101H5, ECO102H5, MGEA01H3, MGEA02H3, MGEA05H3, MGEA06H3
Breadth Requirements: Society and its Institutions (3)

ECO196H1 - An Economist's Guide to the Galaxy

Hours: 24S

Climb aboard as we seek answers to the "Ultimate Question of Life, the Universe, and Everything" (Douglas Adams). Unlike the Hitchhiker's Guide to the Galaxy, the answer will not be 42. Prepare for a wide-ranging journey into the questions economists seek to answer and the evidence they muster to examine these questions. Restricted to first-year students. Not eligible for CR/NCR option.

Breadth Requirements: Society and its Institutions (3)

ECO197H1 - Seminar on Classical Economic Thought

Hours: 24L/12T

This seminar examines the basic ideas of the five most notable economic thinkers before 1870: Aristotle, Adam Smith, Thomas Malthus, David Ricardo, and Karl Marx. We focus on demand as the basis of price in Aristotle; the ambiguity in Smith between a labour theory of value and a demand/supply theory of value; the principle of population in Malthus; Ricardo’s labour theory of value and his theory of rent and economic growth; and Marx’s labour theory of value as the explanation for the development of capital. The understanding in these authors of economics as an historical process of production gives fascinating insights into modern economic development that contrast with the modern economic concentration on the distribution of resources in a world of scarcity. Restricted to first-year students. Not eligible for CR/NCR option.

Breadth Requirements: Society and its Institutions (3)

ECO198H1 - Seminar on Modern Economic Thought

Hours: 24L/12T

This seminar examines the development of modern economic thought from the marginal revolutionaries (Jevons and Menger) who proclaimed that demand in the form of utility was the basis of price to the supply/demand analysis of Alfred Marshall that established modern microeconomics by 1890. We then look at Irving Fisher’s 1907 foundation of the modern concept of the interest rate and the present value of capital before reviewing J.M. Keynes’ 1936 criticism of neo-classical positions on full employment and interest rates in arguing for government manipulation of interest rates to ensure full employment. We finish with Milton Friedman’s championing of the unregulated market economy through his quantity theory of money critique of Keynes. Restricted to first-year students. Not eligible for CR/NCR option.

Breadth Requirements: Society and its Institutions (3)

ECO199H1 - Economics and Sustainable, Green Development

Hours: 24L/12T

Economic growth has been a powerful force through history in improving living standards throughout the world. At the same time, there is a growing recognition that environmental damages frequently accompany this growth, whether it be at the local level (soil degradation and deforestation), or the global level (climate change). Economics studies the allocation of scarce resources, but how can it incorporate "the environment" in a meaningful way that can help guide policy-makers in the 21st century? This course is a fast review of economic approaches and tools, and a review of a wide range of environmental policies, designed to manage the possible adverse impacts of economic expansions. The major emphasis in this course is on the market-based policies that guarantee incentive compatibility of these policies, thus, a higher chance of success. Restricted to first-year students. Not eligible for CR/NCR option.

Breadth Requirements: Society and its Institutions (3)

ECO200Y1 - Microeconomic Theory

Hours: 48L/24T

Theory of markets and prices. Determination of prices through the interaction of the basic economic units, the household as consumer and as supplier of inputs and the business firm as producer and as employer of inputs. The pricing system as the mechanism by which social decisions and allocation of goods are made in a market economy.

Prerequisite: ( ECO101H1(63%), ECO102H1(63%))/ ECO105Y1(80%)/ ECO100Y5(67%)/ ( ECO101H5(63%), ECO102H5(63%))/ ( MGEA02H3 (67%), MGEA06H3 (67%)); MAT133Y1/ ( MAT135H1, MAT136H1)/ MAT137Y1/ MAT157Y1
Exclusion: ECO204Y1, ECO206Y1, ECO200Y5, ECO204Y5, ECO205Y5, ECO206Y5, MGEB01H3, MGEB02H3, MGEC02H3
Breadth Requirements: Society and its Institutions (3)

ECO202Y1 - Macroeconomic Theory and Policy

Hours: 48L/24T

Theory of output, employment and the price level; techniques for achieving economic stability; central banking and Canadian financial institutions and markets; foreign exchange markets and the exchange rate. This course is not intended for students enrolled in the BCom program; please see ECO209Y1.

Prerequisite: ( ECO101H1(63%), ECO102H1(63%))/ ECO105Y1(80%)/ ECO100Y5(67%)/ ( ECO101H5(63%), ECO102H5(63%))/ ( MGEA02H3 (67%), MGEA06H3 (67%)); MAT133Y1/ ( MAT135H1, MAT136H1)/ MAT137Y1/ MAT157Y1
Exclusion: ECO208Y1, ECO209Y1, ECO202Y5, ECO208Y5, ECO209Y5, MGEB05H3, MGEB06H3, MGEC06H3
Breadth Requirements: Society and its Institutions (3)

ECO204Y1 - Microeconomic Theory and Applications (for Commerce)

Hours: 48L/24T

The use of microeconomics to analyze a variety of issues from marketing and finance to organizational structure. Consumer preferences and behaviour; demand, cost analysis and estimation; allocation of inputs, pricing and firm behaviour under perfect and imperfect competition; game theory and public policy, including competition policy. Business cases are used to connect theory and practice and to highlight differences and similarities between economics and accounting, marketing and finance. This course is restricted to students in the Commerce programs.

Prerequisite: ( ECO101H1(63%), ECO102H1(63%))/ ECO105Y1(80%); MAT133Y1/ ( MAT135H1, MAT136H1)/ MAT137Y1/ MAT157Y1
Exclusion: ECO200Y1, ECO206Y1
Breadth Requirements: Society and its Institutions (3)

ECO206Y1 - Microeconomic Theory

Hours: 48L/24T

This course deals more rigorously and more mathematically with the topics included in ECO200Y1 and is intended primarily for students in certain Economics Specialist programs.

Prerequisite: ( ECO101H1(70%), ECO102H1(70%))/ ECO100Y5(70%)/ ( ECO101H5(70%), ECO102H5(70%))/ ( MGEA02H3 (70%), MGEA06H3(70%)); MAT133Y1(63%)/ ( MAT135H1(60%), MAT136H1(60%))/ MAT137Y1(55%)/ MAT157Y1(55%)
Exclusion: ECO200Y1, ECO204Y1, ECO200Y5, ECO204Y5, ECO205Y5, ECO206Y5, MGEB01H3, MGEB02H3, MGEC02H3
Breadth Requirements: Society and its Institutions (3)

ECO208Y1 - Macroeconomic Theory

Hours: 48L/24T

This course deals more rigorously and more mathematically with the topics included in ECO202Y1 and is intended primarily for students in certain Economics Specialist programs.

Prerequisite: ( ECO101H1(70%), ECO102H1(70%))/ ECO100Y5(70%)/ ( ECO101H5(70%), ECO102H5(70%))/ ( MGEA02H3(70%), MGEA06H3 (70%)); MAT133Y1(63%)/ ( MAT135H1(60%), MAT136H1(60%))/ MAT137Y1(55%)/ MAT157Y1(55%)
Exclusion: ECO202Y1, ECO209Y1, ECO202Y5, ECO208Y5, ECO209Y5, MGEB05H3, MGEB06H3, MGEC06H3
Breadth Requirements: Society and its Institutions (3)

ECO209Y1 - Macroeconomic Theory and Policy (for Commerce)

Hours: 48L/24T

Macroeconomic issues relevant for commerce students. Analytical tools are used to examine policy issues: Canadian government budgets, Bank of Canada monetary policy, exchange rate policy, foreign trade policy and government regulation of financial intermediaries. This course is restricted to students in the Commerce programs.

Prerequisite: ( ECO101H1(63%), ECO102H1(63%))/ ECO105Y1(80%); MAT133Y1/ ( MAT135H1, MAT136H1)/ MAT137Y1/ MAT157Y1
Exclusion: ECO202Y1, ECO208Y1
Breadth Requirements: Society and its Institutions (3)

ECO210H1 - Mathematical Methods for Economic Theory

Hours: 24L/12T

An introduction to mathematical methods commonly used in economic theory. Topics include: multivariate calculus, concavity and convexity, unconstrained multivariate optimization, multivariate optimization subject to equality or inequality constraints and differential equations.

Prerequisite: ( ECO101H1(63%), ECO102H1(63%))/ ECO105Y1(80%)/ ECO100Y5(67%)/ ( ECO101H5(63%), ECO102H5(63%))/ ( MGEA02H3 (67%), MGEA06H3 (67%)); MAT133Y1(63%)/ ( MAT135H1(60%), MAT136H1(60%))/ MAT137Y1(55%)/ MAT157Y1(55%)
Exclusion: MAT235Y1, MAT237Y1
Recommended Preparation: ECO200Y1/ ECO204Y1/ ECO206Y1 is a recommended corequisite.

ECO220Y1 - Introduction to Data Analysis and Applied Econometrics

Hours: 48L/48T

Numerical and graphical data description; data collection and sampling; probability; sampling distributions; statistical inference; hypothesis testing and estimation; simple and multiple regression analysis (extensive coverage). Learn how to analyze data and how to correctly interpret and explain results. Use Excel to analyze a wide variety of data and replicate tables and figures in economics research papers.

Prerequisite: ( ECO101H1(63%), ECO102H1(63%))/ ECO105Y1(80%)/ ECO100Y5(67%)/ ( ECO101H5(63%), ECO102H5(63%))/ ( MGEA02H3(67%), MGEA06H3 (67%)); MAT133Y1/ ( MAT135H1, MAT136H1)/ MAT137Y1/ MAT157Y1
Exclusion: GGR270H1, PSY201H1, PSY202H1, SOC202H1, SOC252H1, STA220H1, STA221H1, STA248H1, ECO220Y5, MGEB11H3, MGEB12H3
Breadth Requirements: Society and its Institutions (3), The Physical and Mathematical Universes (5)

ECO225H1 - Big-Data Tools for Economists

Hours: 24L/12T

An introduction to the big-data tools—including Machine-Learning techniques—economists increasingly use in applied research. The course explores unstructured data sources such as text files, webpages, social media posts, satellite imagery, and weather data. It offers a practical introduction to creating datasets from these sources (e.g., web scrapping), linking data, and managing and visualizing them (e.g., geospatial visualization).

Prerequisite: ( ECO101H1(63%), ECO102H1(63%))/ ECO105Y1(80%)/ ECO100Y5(67%)/ ( ECO101H5(63%), ECO102H5(63%))/ ( MGEA02H3 (67%), MGEA06H3 (67%)); MAT133Y1(63%)/ ( MAT135H1(60%), MAT136H1(60%))/ MAT137Y1(55%)/ MAT157Y1(55%); CSC108H1/ CSC110Y1/ CSC148H1
Exclusion: CSC311H1, ECO250Y0 (Special Topics Abroad in Economics: Big Data Tools and Machine Learning for Economists) taken in Summer 2023, ESC190H1, JSC270H1, STA314H1
Breadth Requirements: The Physical and Mathematical Universes (5)

ECO227Y1 - Foundations of Econometrics

Hours: 48L/24T

A rigorous introduction to probability and mathematical statistics intended for students in Economics Specialist programs. Probability and estimation theory, sampling distributions, hypotheses testing, multiple regression analysis. Students will learn the tools used in economics and finance to model and address randomness and uncertainty.

Prerequisite: ( ECO101H1(70%), ECO102H1(70%))/ ECO100Y5(70%)/ ( ECO101H5(70%), ECO102H5(70%))/ ( MGEA02H3(70%), MGEA06H3(70%)); MAT133Y1(63%)/ ( MAT135H1(60%), MAT136H1(60%))/ MAT137Y1(55%)/ MAT157Y1(55%)
Corequisite: Recommended: MAT223H1/ MAT240H1, MAT235Y1/ MAT237Y1/ ECO210H1
Exclusion: STA237H1, STA238H1, STA247H1, STA248H1, STA255H1, STA257H1, STA261H1, ECO227Y5
Breadth Requirements: The Physical and Mathematical Universes (5)

ECO231H1 - Economics of Global Trade

Previous Course Number: ECO230Y1

Hours: 24L/12T

This course is intended primarily for students in the International Relations program. This course offers an introduction to the economic causes and consequences of international trade in goods, services, labour, innovation and capital. Attention will be devoted to the economic impact of policies that affect these flows, such as protectionism and outsourcing.

Prerequisite: ( ECO101H1, ECO102H1)/ ECO105Y1
Exclusion: ECO230Y1, ECO364H1, ECO364H5
Breadth Requirements: Society and its Institutions (3)

ECO232H1 - Global Macroeconomics and Policies

Previous Course Number: ECO230Y1

Hours: 24L/12T

This course is intended primarily for students in the International Relations program. The course serves as an introduction to some of the causes of differences in economic performance across countries and the impact of a variety of government policies, such as monetary and fiscal policy as well as exchange rate regimes, and how each of the three interact in response to changes in development, sovereign debt, monetary unions and financial crises.

Prerequisite: ( ECO101H1, ECO102H1)/ ECO105Y1
Exclusion: ECO230Y1, ECO365H1, ECO365H5
Breadth Requirements: Society and its Institutions (3)

ECO250Y1 - Special Topics in Economics

Hours: 48L/24T

Courses may be offered in one or more subjects each year. Students must meet the prerequisites announced by the Department.

Prerequisite: See the Department of Economics website for details.

ECO250Y0 - Special Topics Abroad in Economics

Hours: 48L/24T

Special Topics in Economics offered in an international setting. Course content and destination may vary. For more information see the Summer Abroad website.

Prerequisite: ( ECO101H1(63%), ECO102H1(63%))/ ECO105Y1(80%)/ ECO100Y5(67%)/ ( ECO101H5(63%), ECO102H5(63%))/ ( MGEA02H3 (67%), MGEA06H3 (67%)); MAT133Y1/ ( MAT135H1, MAT136H1)/ MAT137Y1/ MAT157Y1. Further prerequisites (e.g. CSC108H1/ CSC110Y1/ CSC148H1) may be required and may vary. See Summer Abroad website for details.
Exclusion: ECO250Y0 (Summer 2023) has an exclusion to ECO225H1
Breadth Requirements: Society and its Institutions (3)

ECO251H1 - Special Topics in Economics

Hours: 24L/12T

Courses may be offered in one or more subjects each year. Students must meet the prerequisites announced by the Department.

Prerequisite: See the Department of Economics website for details.

ECO252H1 - Special Topics in Economics

Hours: 24L/12T

Courses may be offered in one or more subjects each year. Students must meet the prerequisites announced by the Department.

Prerequisite: See the Department of Economics website for details.

ECO299Y1 - Research Opportunity Program

Credit course for supervised participation in faculty research project. Details at https://www.artsci.utoronto.ca/current/academics/research-opportunities/research-opportunities-program. Not eligible for CR/NCR option.

ECO305H1 - Economics of Accounting

Hours: 24L/12T

The economic impact of accounting rules and practices for firms and financial contracts. Topics include: economic models of agency, economics of optimal accounting rules such as government regulation of corporate disclosure and the economic returns to financial reporting. No previous knowledge of accounting is required; the basic language of financial accounting will be covered.

Prerequisite: ECO200Y1/ ECO204Y1/ ECO206Y1; ECO220Y1/ ECO227Y1/ ( STA237H1, STA238H1)/ ( STA247H1, STA248H1)/ ( STA257H1, STA261H1)
Exclusion: Not open to students enrolled in Rotman Commerce programs.
Breadth Requirements: Society and its Institutions (3)

ECO306H1 - American Economic History

Hours: 24L/12T

A survey of American economic history from the ante-bellum period to the present. Potential topics include: the rapid growth of the American economy in the late 19th and early 20th century; causes of the onset of the Great Depression; the economic impact of slavery and its aftermath; health and demographic trends; and 20th century trends in inequality.

Prerequisite: ECO200Y1/ ECO204Y1/ ECO206Y1, ECO220Y1/ ECO227Y1/ ( STA237H1, STA238H1)/ ( STA247H1, STA248H1)/ ( STA257H1, STA261H1)
Breadth Requirements: Society and its Institutions (3)

ECO310H1 - Empirical Industrial Organization

Hours: 24L/12T

The quantitative analysis of firms' strategies in real-world industries, using tools from applied microeconomics and statistics. Topics include: studies of monopoly, oligopoly, imperfect competition, and the estimation of demand and cost functions that underpin these markets. Note: hands-on analysis of real-world data using computer programs is a course requirement. The course is open to all students who meet the prerequisites, and necessary support for applicable software is provided.

Prerequisite: ECO200Y1/ ECO204Y1/ ECO206Y1; ECO220Y1/ ECO227Y1/ ( STA237H1, STA238H1)/ ( STA247H1, STA248H1)/ ( STA257H1, STA261H1)
Breadth Requirements: Society and its Institutions (3)

ECO313H1 - Environmental Economics and Policies

Hours: 24L/12T

This course demonstrates how a rigorous application of microeconomic techniques can inform our responses to various environmental problems. Topics may include: air and water pollution and renewable resource management.

Prerequisite: ECO200Y1/ ECO204Y1/ ECO206Y1; ECO220Y1/ ECO227Y1/ ( STA237H1, STA238H1)/ ( STA247H1, STA248H1)/ ( STA257H1, STA261H1)
Exclusion: ECO313H5
Breadth Requirements: Society and its Institutions (3)

ECO314H1 - Energy and the Environment

Hours: 24L/12T

This course surveys important features of energy markets and related environmental challenges. One of the central objectives is to provide an understanding of the key economic tools needed to analyse these markets. A related objective is the development of a framework for understanding the public discourse on energy and the environment. Topics include: the hydrocarbon economy (oil, natural gas and coal), electricity markets, global warming and other externalities, renewable energy, conservation, carbon taxes and ‘cap-and-trade’.

Prerequisite: ECO200Y1/ ECO204Y1/ ECO206Y1; ECO220Y1/ ECO227Y1/ ( STA237H1, STA238H1)/ ( STA247H1, STA248H1)/ ( STA257H1, STA261H1)
Breadth Requirements: Society and its Institutions (3)

ECO316H1 - Applied Game Theory

Hours: 24L/12T

Focuses on the core ideas and concepts of game theory and on applications of them in economics and other social sciences. Topics may include: oligopoly, electoral competition, the theory of public goods, voting theory, the free rider problem, repeated interaction, bargaining, evolutionary equilibrium, matching and auctions.

Note: This course cannot be taken as a substitute in programs that require ECO326H1.

Prerequisite: ECO200Y1/ ECO204Y1/ ECO206Y1
Exclusion: ECO326H1, ECO326H5
Breadth Requirements: Society and its Institutions (3)

ECO317H1 - Concepts of Fairness in Economics

Hours: 24L/12T

How can we make collective decisions fairly? What does it mean to properly balance conflicting interests? How can we combine the well-being of individuals into a concept of societal well-being? We explore these and related ethical questions from the perspective of economic theory. A central tool is the axiomatic approach, which calls for decisions to be consistent, in precise senses, across related situations. Possible topics include: rationing problems, the Shapley value, fair division, discrimination, voting theory, foundations of utilitarianism and egalitarianism, measurement of inequality, population ethics, intergenerational equity, and concepts of equal opportunity.

Prerequisite: ECO200Y1(63%)/ ECO204Y1(63%)/ ECO206Y1
Exclusion: ECO351H1 (Special Topics in Economics: Principles of Fair Decisions) taken Fall 2021, Winter 2022, Fall 2022, and Winter 2023
Recommended Preparation: Familiarity and comfort with mathematical notation and formal definitions.
Breadth Requirements: Society and its Institutions (3)

ECO320H1 - Economic Analysis of Law

Hours: 24L/12T

The practical application of microeconomic theory to common legal problems: torts, contracts, property and crime, and the limitations of economic analysis. No previous familiarity with the law is assumed. (This is an economic analysis of legal issues, not a course in law).

Prerequisite: ECO200Y1/ ECO204Y1/ ECO206Y1
Exclusion: ECO320H5
Breadth Requirements: Society and its Institutions (3)

ECO321H1 - Canadian Economic History prior to 1850

Hours: 24L/12T

This course applies the tools of economics - theoretical and empirical - to study Canada's historical growth experiences. Topics include: the variation in well-being among Indigenous peoples (both pre and post contact), migration and indentured servitude, colonial money, child labour and education, and the rise of factories. The impact of colonial institutions on Canada’s economic success is studied in a comparative context.

Prerequisite: ECO200Y1/ ECO204Y1/ ECO206Y1
Exclusion: ECO322Y5
Breadth Requirements: Society and its Institutions (3)

ECO322H1 - Canadian Economic History, 1850-1960

Hours: 24L/12T

Canadian economic history between 1850 and 1960, with a focus on the debate over the ability of the market mechanism to optimize economic development. Topics covered include: tariff policies, Confederation, the transcontinental railroad, opening the West, the Great Depression, monetary policy and the Bank of Canada, regional growth and dominion-provincial relations.

Prerequisite: ECO200Y1/ ECO204Y1/ ECO206Y1
Exclusion: ECO322Y5
Breadth Requirements: Society and its Institutions (3)

ECO324H1 - Economic Development

Hours: 24L/12T

This course critically analyzes issues related to economic development and the associated policy responses. Tools from micro and macroeconomic theory are employed, as well as the critical assessment of empirical evidence. Topics may include: education, health, credit markets, inequality, and the role of foreign aid.

Prerequisite: ECO200Y1/ ECO204Y1/ ECO206Y1; ECO220Y1/ ECO227Y1/ ( STA237H1, STA238H1)/ ( STA247H1, STA248H1)/ ( STA257H1, STA261H1)
Exclusion: ECO324H5
Breadth Requirements: Society and its Institutions (3)

ECO325H1 - Advanced Economic Theory - Macro

Hours: 24L/12T

A development of the microeconomic foundations of macroeconomic theory to expand students' analytic skills by constructing and solving macroeconomic models. Topics may include: dynamic choice, neoclassical growth theory, uncertainty and rational expectations, business cycles, as well as fiscal and monetary policy.

Prerequisite: ECO208Y1/ ECO202Y1(70%)/ ECO209Y1; ECO220Y1(70%)/ ECO227Y1/ ( STA237H1(70%), STA238H1(70%))/ ( STA247H1(70%), STA248H1(70%))/ ( STA257H1, STA261H1)
Exclusion: ECO325H5
Recommended Preparation: MAT235Y1/ MAT237Y1/ ECO210H1
Breadth Requirements: Society and its Institutions (3)

ECO326H1 - Advanced Microeconomics - Game Theory

Hours: 24L/12T

Game theory and applications. Topics include: strategic and extensive games, with applications to economics.

Prerequisite: ECO200Y1(70%)/ ECO204Y1/ ECO206Y1; ECO220Y1(70%)/ ECO227Y1/ ( STA237H1(70%), STA238H1(70%))/ ( STA247H1(70%), STA248H1(70%))/ ( STA257H1, STA261H1)
Exclusion: ECO316H1, ECO326H5
Recommended Preparation: MAT235Y1/ MAT237Y1/ ECO210H1
Breadth Requirements: Society and its Institutions (3)

ECO331H1 - Behavioural and Experimental Economics

Hours: 24L/12T

Ample empirical and experimental evidence suggests significant departures from classical assumptions of economic behaviour. For example, humans are neither always perfectly rational nor always self interested. This course describes systematic ways in which behaviour deviates from neoclassical assumptions, generating new, and hopefully more realistic behavioural assumptions that have broad empirical, theoretical and policy implications.

Prerequisite: ECO200Y1/ ECO204Y1/ ECO206Y1; ECO220Y1/ ECO227Y1/ ( STA237H1, STA238H1)/ ( STA247H1, STA248H1)/ ( STA257H1, STA261H1)
Breadth Requirements: Society and its Institutions (3)

ECO332H1 - Economics of the Family

Hours: 24L/24T

A use of microeconomics to study the behaviour of the family, including marriage, divorce, intra-family allocations, investment in children and gender roles.

Prerequisite: ECO200Y1/ ECO204Y1/ ECO206Y1; ECO220Y1/ ECO227Y1/ ( STA237H1, STA238H1)/ ( STA247H1, STA248H1)/ ( STA257H1, STA261H1)
Breadth Requirements: Society and its Institutions (3)

ECO333H1 - Urban Economics

Hours: 24L/12T

Spatial economic theory and urban public policy: firms and individuals in partial and general equilibrium, land development and land-use controls, urban transportation, efficiency and equity in spending and taxing.

Prerequisite: ECO200Y1/ ECO204Y1/ ECO206Y1
Exclusion: ECO333H5
Breadth Requirements: Society and its Institutions (3)

ECO334H1 - The Political Economy of Media

Hours: 24L/12T

We develop tools to analyze voters and the role of information in democracies. Theories of voter information are evaluated using empirical literature on media its political economy. We explore the effects of information-technology innovation, evaluating how the empirical results square with the theory. We focus on empirical methods used to identify the effects of media—from newspapers, radio and television to the internet and social media—on voters. Note: hands-on analysis of real-world data using computer programs is a course requirement. The course is open to all students who meet the prerequisites and necessary support for applicable software is provided.

Prerequisite: ECO200Y1/ ECO204Y1/ ECO206Y1, ECO220Y1/ ECO227Y1/ ( STA237H1, STA238H1)/ ( STA247H1, STA248H1)/ ( STA257H1, STA261H1)
Breadth Requirements: Society and its Institutions (3)

ECO336H1 - Public Economics

Hours: 24L/12T

Theory of taxation and public goods, and quantitative methods for program evaluation. Additional topics include: taxation and income distribution; environmental policy; and the political economy of government policy.

Prerequisite: ECO200Y1/ ECO204Y1/ ECO206Y1; ECO220Y1/ ECO227Y1/ ( STA237H1, STA238H1)/ ( STA247H1, STA248H1)/ ( STA257H1, STA261H1)
Exclusion: ECO336H5, ECO337H1
Breadth Requirements: Society and its Institutions (3)

ECO337H1 - Public Economics (for Commerce)

Hours: 24L/12T

An introduction to the economics of government similar to ECO336H1, but with greater focus on issues in business and financial economics. Additional topics include: business tax planning and corporate financial policy; taxation of saving and risk-taking; and government business enterprises.

Prerequisite: ECO200Y1/ ECO204Y1/ ECO206Y1; ECO220Y1/ ECO227Y1/ ( STA237H1, STA238H1)/ ( STA247H1, STA248H1)/ ( STA257H1, STA261H1)
Exclusion: ECO336H1, ECO336H5
Breadth Requirements: Society and its Institutions (3)

ECO338H1 - Economics of Careers

Hours: 24L/12T

The economic analysis of careers from the perspectives of both workers and employers. How do people decide what to study, what careers to pursue, and when to change jobs? How do these decisions interact with the structure of firms? The impact of specialization and the division of labour on the evolution of careers is considered, as are the role of cognitive and communication skills in the labour market.

Prerequisite: ECO200Y1/ ECO204Y1/ ECO206Y1; ECO220Y1/ ECO227Y1/ ( STA237H1, STA238H1)/ ( STA247H1, STA248H1)/ ( STA257H1, STA261H1)
Breadth Requirements: Society and its Institutions (3)

ECO339H1 - Labour Economics: Employment, Wages and Public Policy

Hours: 24L/12T

Using tools from microeconomic theory and statistics, this course introduces students to the study of labour markets, focusing on employment and wage determination, and the application of labour economics to public policy. Topics may include: labour supply, labour demand, estimating the impact of welfare programs, minimum wages, and other labour market interventions. Note: hands-on analysis of real-world data using computer programs is a course requirement. The course is open to all students who meet the prerequisites and necessary support for applicable software is provided.

Prerequisite: ECO200Y1/ ECO204Y1/ ECO206Y1; ECO220Y1/ ECO227Y1/ ( STA237H1, STA238H1)/ ( STA247H1, STA248H1)/ ( STA257H1, STA261H1)
Exclusion: ECO343H5, ECO344H5
Breadth Requirements: Society and its Institutions (3)

ECO340H1 - Labour Economics: The Distribution of Earnings

Hours: 24L/12T

Using tools from microeconomic theory and statistics, this course studies the determinants of wages across labour markets. Topics include: the theory of compensating differentials, human capital, discrimination, immigration, unions, and alternative models of compensation. In addition, students are introduced to microeconomic models of unemployment. Throughout the course, there is an emphasis on the evaluation of empirical evidence. Note: hands-on analysis of real-world data using computer programs is a course requirement. The course is open to all students who meet the prerequisites and necessary support for applicable software is provided.

Prerequisite: ECO200Y1/ ECO204Y1/ ECO206Y1; ECO220Y1/ ECO227Y1/ ( STA237H1, STA238H1)/ ( STA247H1, STA248H1)/ ( STA257H1, STA261H1)
Exclusion: ECO343H5, ECO344H5
Breadth Requirements: Society and its Institutions (3)

ECO341H1 - The Economic History of the 20th Century: Trade, Migration, Money and Finance before 1945

Hours: 24L/12T

Tailored to advanced students in Economics, Commerce, International Relations and History. The focus is on growth and fluctuations in Europe and North America between roughly 1870 and 1939, with a particular emphasis on international trade and payments, migration, investment, and monetary arrangements.

Prerequisite: ECO200Y1/ ECO204Y1/ ECO206Y1/ ( ECO230Y1/ ( ECO231H1, ECO232H1), ( POL208Y1/ POL208H1))
Exclusion: ECO303H5
Breadth Requirements: Society and its Institutions (3)

ECO342H1 - Twentieth Century Economic History: Institutions, Growth and Inequality

Hours: 24L/12T

Tailored to advanced students in Economics, Commerce, International Relations and History. The focus is on institutions, growth and inequality in countries across the world.

Prerequisite: ECO200Y1/ ECO204Y1/ ECO206Y1/( ECO230Y1/( ECO231H1, ECO232H1), ( POL208Y1/ POL208H1))
Breadth Requirements: Society and its Institutions (3)

ECO349H1 - Money, Banking and Financial Markets

Hours: 24L/12T

This course studies the interaction of the monetary and banking sectors with financial markets and the broader economy. It builds especially on tools developed in intermediate macroeconomics, but also focuses on the institutional structure of the Canadian monetary sector, including the role and operation of the Bank of Canada.

Prerequisite: ECO200Y1/ ECO204Y1/ ECO206Y1; ECO202Y1/ ECO208Y1/ ECO209Y1; ECO220Y1/ ECO227Y1/ ( STA237H1, STA238H1)/ ( STA247H1, STA248H1)/ ( STA257H1, STA261H1)
Exclusion: ECO348H5/ ECO349H5
Breadth Requirements: Society and its Institutions (3)

ECO350Y1 - Special Topics in Economics

Hours: 48L/24T

Courses may be offered in one or more subjects each year.

Prerequisite: ECO200Y1/ ECO204Y1/ ECO206Y1; ECO220Y1/ ECO227Y1/( STA237H1, STA238H1)/( STA247H1, STA248H1)/( STA257H1, STA261H1). Further prerequisites may be required and may vary from year to year, consult the Department of Economics website/current Timetable for more information.
Breadth Requirements: Society and its Institutions (3)

ECO351H1 - Special Topics in Economics

Hours: 24L/12T

Courses may be offered in one or more subjects each year.

Prerequisite: ECO200Y1/ ECO204Y1/ ECO206Y1; ECO220Y1/ ECO227Y1/ ( STA237H1, STA238H1)/ ( STA247H1, STA248H1)/ ( STA257H1, STA261H1). Further prerequisites may be required and may vary from year to year, consult the Department of Economics website/current Timetable for more information.
Breadth Requirements: Society and its Institutions (3)

ECO352H1 - Special Topics in Economics

Hours: 24L/12T

Courses may be offered in one or more subjects each year.

Prerequisite: ECO200Y1/ ECO204Y1/ ECO206Y1; ECO202Y1/ ECO208Y1/ ECO209Y1; ECO220Y1/ ECO227Y1/ ( STA237H1, STA238H1)/ ( STA247H1, STA248H1)/ ( STA257H1, STA261H1). Further prerequisites may be required and may vary from year to year, consult the Department of Economics website/current Timetable for more information.
Breadth Requirements: Society and its Institutions (3)

ECO353H1 - Special Topics in Economics with Data Analytics

Hours: 24L/12T

Seminars or workshops in economics with a data analytics component may be offered in one or more topics each year. Note: hands-on analysis of real-world data using computer programs is a course requirement. The course is open to all students who meet the prerequisites and necessary support for applicable software is provided.

Prerequisite: ECO200Y1/ ECO204Y1/ ECO206Y1, ECO220Y1/ ECO227Y1/ ( STA237H1, STA238H1)/ ( STA247H1, STA248H1)/ ( STA257H1, STA261H1). Further prerequisites (e.g. ECO225H1/ GGR272H1) may be required and may vary from year to year, consult the Department of Economics website/current Timetable for more information.
Breadth Requirements: Society and its Institutions (3)

ECO354H1 - Special Topics in Economics with Data Analytics

Hours: 24L/12T

Seminars or workshops in economics with a data analytics component may be offered in one or more topics each year. Note: hands-on analysis of real-world data using computer programs is a course requirement. The course is open to all students who meet the prerequisites and necessary support for applicable software is provided.

Prerequisite: ECO200Y1/ ECO204Y1/ ECO206Y1, ECO202Y1/ ECO208Y1/ ECO209Y1, ECO220Y1/ ECO227Y1/ ( STA237H1, STA238H1)/ ( STA247H1, STA248H1)/ ( STA257H1, STA261H1). Further prerequisites (e.g. ECO225H1/ GGR272H1) may be required and may vary from year to year, consult the Department of Economics website/current Timetable for more information.
Breadth Requirements: Society and its Institutions (3)

ECO356H1 - Special Topics in Financial Economics

Hours: 24L/12T

Courses may be offered in one or more subjects each year. Students must meet the prerequisites announced by the Department.

Prerequisite: See the Department of Economics website for details.
Breadth Requirements: Society and its Institutions (3)

ECO358H1 - Financial Economics I

Hours: 24L/12T

An introduction to economics of financial assets and financial markets. Topics: inter-temporal choice, expected utility theory, security valuation, selected asset pricing models, market efficiency, and the term structure of interest rates - essential materials for an understanding of the role and operation of financial markets.

Prerequisite: ECO200Y1/ ECO204Y1/ ECO206Y1; ECO220Y1/ ECO227Y1/ ( STA237H1, STA238H1)/ ( STA247H1, STA248H1)/ ( STA257H1, STA261H1)
Exclusion: ACT349H1, ECO358H5, MGT231H5, RSM332H1
Breadth Requirements: Society and its Institutions (3)

ECO359H1 - Financial Economics II: Corporate Finance

Hours: 24L/12T

Agency and incomplete information problems inherent in financial transactions; the role of contractual arrangements in overcoming them. Financial constraints on investment decisions of firms; the financial system in economic growth; the legal system in the functioning of financial markets. A look at theoretical and empirical literature covering these issues.

Prerequisite: ECO358H1
Exclusion: ACT349H1, ECO359H5, MGT232H5, RSM333H1
Breadth Requirements: Society and its Institutions (3)

ECO362H1 - Economic Growth

Hours: 24L/12T

The course considers a broad range of issues that underlie economic growth, including technical progress and the accumulation of human and physical capital. Beyond these factors, the course also investigates the efficiency with which capital is used, the role of foreign trade, and the possible roles of institutions and geography.

Prerequisite: ECO200Y1/ ECO204Y1/ ECO206Y1; ECO202Y1/ ECO208Y1/ ECO209Y1; ECO220Y1/ ECO227Y1/ ( STA237H1, STA238H1)/ ( STA247H1, STA248H1)/ ( STA257H1, STA261H1)
Exclusion: ECO362H5
Breadth Requirements: Society and its Institutions (3)

ECO364H1 - International Trade Theory

Hours: 24L/12T

An examination of the causes and consequences of international trade. The first half develops traditional models of comparative advantage. The second half examines more recent theoretical and empirical work on trade & wages, the political economy of trade, outsourcing, and firm heterogeneity.

Prerequisite: ECO200Y1/ ECO204Y1/ ECO206Y1; ECO220Y1/ ECO227Y1/ ( STA237H1, STA238H1)/ ( STA247H1, STA248H1)/ ( STA257H1, STA261H1)
Exclusion: ECO230Y1, ECO231H1, ECO364H5
Breadth Requirements: Society and its Institutions (3)

ECO365H1 - International Monetary Economics

Hours: 24L/12T

Introduction to open economy macroeconomics and international finance. The core objective of the course is to develop macroeconomic models of open economies that can be applied towards gaining an understanding of recent events such as US deficits, financial crises, China's exchange rate policy and the Euro.

Prerequisite: ECO202Y1/ ECO208Y1/ ECO209Y1
Exclusion: ECO230Y1, ECO232H1, ECO365H5
Breadth Requirements: Society and its Institutions (3)

ECO367H1 - The Economics of Inequality

Hours: 24L/12T

This course critically analyzes the causes and recent dynamics of economic inequality both between countries as well as within a particular country, with a particular emphasis on the role of public policy. While theoretical models are employed, there is a focus on the critical assessment of empirical evidence. Topics may include the roles of traditional market forces (e.g., globalisation, technological change), institutions (e.g., minimum wage, unions) as well as race and gender. Note: hands-on analysis of real-world data using computer programs is a course requirement. The course is open to all students who meet the prerequisites and necessary support for applicable software is provided.

Prerequisite: ECO200Y1/ ​ ECO204Y1/​ ECO206Y1, ECO220Y1/​ ECO227Y1/​ ( STA237H1, STA238H1)/ ( STA247H1, STA248H1)/ ( STA257H1, STA261H1)
Breadth Requirements: Society and its Institutions (3)

ECO368H1 - Economics of Conflict

Hours: 24L/12T

This course explores the links between violent conflict and socioeconomic development. It focuses on micro-level processes leading to conflict, and how conflict and political violence affect people's lives at the household and community levels. It also examines how these processes are linked to wider political and economic issues including governance and the role of institutions. Tools from economic theory are applied alongside country-specific and cross-country empirical evidence.

Prerequisite: ECO200Y1/ ECO204Y1/ ECO206Y1; ECO220Y1/ ECO227Y1/ ( STA237H1, STA238H1)/ ( STA247H1, STA248H1)/ ( STA257H1, STA261H1). Note: Students with ( ECO101H1(63%), ECO102H1(63%))/ ECO105Y1(80%), plus a full-year of quantitative methods/statistics (e.g., POL222H1, POL232H1), and who are enrolled in the International Relations or Peace, Conflict and Justice Major or Specialist programs may take this course with Permission of the Instructor.
Breadth Requirements: Society and its Institutions (3)

ECO369H1 - Health Economics

Hours: 24L/12T

The provision of health care provides many special problems of informational asymmetry, regulation, insurance and redistribution. A consideration of the demand and supply side problems. Alternative reform proposals for health care are explored.

Prerequisite: ECO200Y1/ ECO204Y1/ ECO206Y1; ECO220Y1/ ECO227Y1/ ( STA237H1, STA238H1)/ ( STA247H1, STA248H1)/ ( STA257H1, STA261H1)
Breadth Requirements: Society and its Institutions (3)

ECO372H1 - Data Analysis and Applied Econometrics in Practice

Hours: 24L/12T

How multiple regression can be used to answer causal questions. Implications of, and how to interpret different model specifications and identification strategies. Students will read, critically evaluate and replicate existing research, and conduct their own original analyses. Statistical software STATA or R will be used.

Prerequisite: ECO200Y1/ ECO204Y1/ ECO206Y1, ECO220Y1/ ECO227Y1/ ( STA237H1, STA238H1)/ ( STA247H1, STA248H1)/ ( STA257H1, STA261H1)
Breadth Requirements: Society and its Institutions (3)

ECO374H1 - Forecasting and Time Series Econometrics

Hours: 24L/12T

Introduction to time series econometrics and forecasting. Statistical foundations and economic applications of stochastic processes including ARMA, neural networks with machine learning, VAR, VEC, and volatility models. Students gain practical experience working with economic and financial data, making use of statistical software.

Prerequisite: ECO200Y1/ ECO204Y1/ ECO206Y1; ECO220Y1(70%)/ ECO227Y1/ ( STA237H1(70%), STA238H1(70%))/ ( STA247H1(70%), STA248H1(70%))/ ( STA257H1, STA261H1)
Exclusion: STA457H1
Recommended Preparation: MAT221H1/ MAT223H1/ MAT240H1
Breadth Requirements: Society and its Institutions (3)

ECO375H1 - Applied Econometrics I

Hours: 24L/12T

Introduction to econometrics. Statistical foundations and the interpretation of multiple regression models, with an emphasis on cross-sectional data. Application of regressions to a wide variety of economic questions and data sources, including the use of statistical software. Problems in the identification of causality, and an introduction to methods of addressing common statistical issues.

Prerequisite: ECO200Y1/ ECO204Y1/ ECO206Y1; ECO220Y1(70%)/ ECO227Y1/ ( STA237H1(70%), STA238H1(70%))/ ( STA247H1(70%), STA248H1(70%))/ ( STA257H1, STA261H1)
Exclusion: ECO375H5
Recommended Preparation: MAT221H1/ MAT223H1/ MAT240H1
Breadth Requirements: Society and its Institutions (3)

ECO380H1 - Markets, Competition, and Strategy

Hours: 24L/12T

This course in applied microeconomics is concerned with the functioning of markets and the behaviour of firms within these markets. The focus is on strategic relationships between organizations, including competitive relationships among firms in the same market and cooperative relationships between a firm and its suppliers and distributors. Note: hands-on analysis of real-world data using computer programs is a course requirement. The course is open to all students who meet the prerequisites and necessary support for applicable software is provided.

Prerequisite: ECO200Y1/ ECO204Y1/ ECO206Y1; ECO220Y1/ ECO227Y1/ ( STA237H1, STA238H1)/ ( STA247H1, STA248H1)/ ( STA257H1, STA261H1)
Exclusion: ECO312H5
Breadth Requirements: Society and its Institutions (3)

ECO381H1 - Personnel Economics

Hours: 24L/12T

An examination of selected material on compensation and incentives in organizations. Topics include: recruitment and hiring, training, turnover, downsizing, motivating workers, teams, allocating authority and task assignment.

Prerequisite: ECO200Y1/ ECO204Y1/ ECO206Y1; ECO220Y1/ ECO227Y1/ ( STA237H1, STA238H1)/ ( STA247H1, STA248H1)/ ( STA257H1, STA261H1)
Exclusion: ECO381H5
Breadth Requirements: Society and its Institutions (3)

ECO398H0 - Research Excursions

An instructor-supervised group project in an off-campus setting. Details at https://www.artsci.utoronto.ca/current/academics/research-opportunities/research-excursions-program. Not eligible for CR/NCR option.

ECO398Y0 - Research Excursions

An instructor-supervised group project in an off-campus setting. Details at https://www.artsci.utoronto.ca/current/academics/research-opportunities/research-excursions-program. Not eligible for CR/NCR option.

ECO399Y1 - Research Opportunity Program

Credit course for supervised participation in faculty research project. Details at https://www.artsci.utoronto.ca/current/academics/research-opportunities/research-opportunities-program. Not eligible for CR/NCR option.

ECO401H1 - Topics in Economic Policy

Hours: 24L/12T

This course covers basic issues in the theoretical and empirical evaluation of public policy. Sample topics include: income redistribution through taxation and the provision of social insurance and public goods, the mitigation of externalities, and welfare analysis in behavioural models. Note: hands-on analysis of real-world data using computer programs is a course requirement. The course is open to all students who meet the prerequisites and necessary support for applicable software is provided.


Prerequisite: ECO200Y1/ ECO204Y1/ ECO206Y1, ECO202Y1/ ECO208Y1/ ECO209Y1, ECO220Y1/ ECO227Y1/ ( STA237H1, STA238H1)/ ( STA247H1, STA248H1)/ ( STA257H1, STA261H1), at least 1.0 credit in ECO at the 300+ level.
Breadth Requirements: Society and its Institutions (3)

ECO402H1 - Topics in Health Economics

Hours: 24L/12T

This course explores a variety of topics in health economics, providing students with an overview of current and historical institutional characteristics of the market for, and public policy towards, health care. Students will apply theoretical and empirical tools to current domestic and international issues in health policy. No previous background in health economics is required.

Prerequisite: ECO200Y1/ ECO204Y1/ ECO206Y1, ECO202Y1/ ECO208Y1/ ECO209Y1, ECO220Y1/ ECO227Y1/ ( STA237H1, STA238H1)/ ( STA247H1, STA248H1)/ ( STA257H1, STA261H1), at least 1.0 credit in ECO at the 300+ level.
Breadth Requirements: Society and its Institutions (3)

ECO403H1 - Topics in Development Economics and Policy

Hours: 24L/12T

This course covers a variety of topics pertaining to economic development and associated policies. Depending on the course instructor, the focus may be on theories and policies related to poverty alleviation, human capital formation, financial markets, international trade, governance or economic growth. Note: hands-on analysis of real-world data using computer programs is a course requirement. The course is open to all students who meet the prerequisites and necessary support for applicable software is provided.

Prerequisite: ECO200Y1/ ECO204Y1/ ECO206Y1, ECO202Y1/ ECO208Y1/ ECO209Y1, ECO220Y1/ ECO227Y1/ ( STA237H1, STA238H1)/ ( STA247H1, STA248H1)/ ( STA257H1, STA261H1), at least 1.0 credit in ECO at the 300+ level.
Breadth Requirements: Society and its Institutions (3)

ECO404H1 - Topics in Managerial Economics

Hours: 24L/12T

Applies quantitative economic methods to real world business-oriented cases. Sample topics include: new product design, decision making under uncertainty, market segmentation and price discrimination, inventory analysis, game theoretic analysis of price wars, financial portfolio design, and optimal pricing. Involves substantial modeling in Excel, regression analysis, optimization methods, and financial reports. Note: hands-on analysis of real-world data using computer programs is a course requirement. The course is open to all students who meet the prerequisites and necessary support for applicable software is provided.

Prerequisite: ECO200Y1(63%)/ ECO204Y1/ ECO206Y1, ECO220Y1/ ECO227Y1/ ( STA237H1, STA238H1)/ ( STA247H1, STA248H1)/ ( STA257H1, STA261H1), at least 1.0 credit in ECO at the 300+ level.
Breadth Requirements: Society and its Institutions (3)

ECO406H1 - Developmental Macroeconomics

Hours: 24L/12T

This course studies a growth model applicable to both middle-income developing countries and resource-rich developed countries. Special attention is paid to causes of cyclical currency overvaluation, particularly Dutch disease and excessive capital inflows.

Prerequisite: ECO200Y1/ ECO204Y1/ ECO206Y1, ECO202Y1/ ECO208Y1/ ECO209Y1, ECO220Y1/ ECO227Y1/ ( STA237H1, STA238H1)/ ( STA247H1, STA248H1)/ ( STA257H1, STA261H1), at least 1.0 credit in ECO at the 300+ level.
Breadth Requirements: Society and its Institutions (3)

ECO407H1 - Competing Views in Macroeconomic Theory and Policy

Hours: 24L/24T

Provides students with a systematic analysis of competing perspectives on key areas of macroeconomic theory and policy. Special attention paid to competing views regarding key fiscal, monetary, and trade policy issues as applied to Canada.

Prerequisite: ECO200Y1/ ECO204Y1/ ECO206Y1, ECO202Y1/ ECO208Y1/ ECO209Y1, ECO220Y1/ ECO227Y1/ ( STA237H1, STA238H1)/ ( STA247H1, STA248H1)/ ( STA257H1, STA261H1), at least 1.0 credit in ECO at the 300+ level.
Breadth Requirements: Society and its Institutions (3)

ECO409H1 - Topics in Money, Banking, and Finance

Hours: 24L/12T

This course examines the foundations of money and financial institutions using tools mastered in micro and macroeconomics. The goal is a set of principles valid for the analysis of monetary policy and institutional regulation in a variety of real world settings.

Prerequisite: ECO200Y1/ ECO204Y1/ ECO206Y1, ECO202Y1/ ECO208Y1/ ECO209Y1, ECO220Y1/ ECO227Y1/ ( STA237H1, STA238H1)/ ( STA247H1, STA248H1)/ ( STA257H1, STA261H1), at least 1.0 credit in ECO at the 300+ level.
Breadth Requirements: Society and its Institutions (3)

ECO410H1 - Mergers and Competition Policy

Hours: 24L/24T

A combined theoretical, empirical and policy approach to mergers amongst competitors (horizontal mergers). Uses microeconomic models including game theory and econometrics. Delves into recent/current matters assessed by antitrust authorities domestically and/or internationally with applications to specific industries.

Prerequisite: ECO372H1/ ECO374H1/ ECO375H1, at least 1.0 credit in ECO at the 300+ level.
Breadth Requirements: Society and its Institutions (3)

ECO414H1 - Energy and Regulation

Hours: 24L/12T

This course provides a general treatment of the economics of energy markets and the use of regulation in addressing environmental and other issues arising in these markets. A central theme is the search for an appropriate balance between market forces and regulatory/government intervention. Familiarity with tools of microeconomics and statistics/econometrics is essential. Topics include: oil, natural gas, coal and electricity markets, global warming and other externalities, networks, feed-in-tariffs, carbon taxes, ‘cap-and-trade’ and incentive regulation.

Prerequisite: ECO200Y1/ ECO204Y1/ ECO206Y1; ECO220Y1/ ECO227Y1/ ( STA237H1, STA238H1)/ ( STA247H1, STA248H1)/ ( STA257H1, STA261H1)
Breadth Requirements: Society and its Institutions (3)

ECO417H1 - Economic Development Policy: Community Engaged Learning

Hours: 12L/12T/12P

An examination of the causes and consequence of poverty in developing countries with a microeconomic focus, and how it relates it to poverty in the developed world, using a 30-hour service placement at a community organization. Importance of community and context specific factors in policy implementation; learn how local organizations have responded. Use of reflection assignments, papers, group work and class discussions to relate to course concepts. Topics include: poverty traps, health, education, and credit. An application to the instructor is necessary. Not eligible for CR/NCR option.

Prerequisite: ECO200Y1/ ECO204Y1/ ECO206Y1; ECO202Y1/ ECO208Y1/ ECO209Y1; ECO220Y1/ ECO227Y1/ ( STA237H1, STA238H1)/ ( STA247H1, STA248H1)/ ( STA257H1, STA261H1)
Breadth Requirements: Society and its Institutions (3)

ECO418H1 - Empirical Applications of Economic Theory

Hours: 24L/12T

Topics class in applied econometrics, emphasizing empirical industrial organization. Emphasis on a balanced treatment of theory and econometric techniques used in empirical research in industrial organization (the study of firms and markets). How firms behave, how market equilibriums arise and how economic policies are used to affect market equilibriums. Note: hands-on analysis of real-world data using computer programs is a course requirement. The course is open to all students who meet the prerequisites and necessary support for applicable software is provided.

Prerequisite: ECO372H1(73%)/ ECO374H1/ ECO375H1
Breadth Requirements: Society and its Institutions (3)

ECO419H1 - International Macroeconomics

Hours: 24L/12T

This course studies the causes and consequences of international borrowing and lending and exchange rate fluctuations. We will discuss key empirical facts about these phenomena, develop economic models to understand the forces that drive them, and apply the models to gain insights about a variety of historical contexts like China's rapid economic development and the recent sovereign debt crises in the Eurozone periphery.

Prerequisite: ECO200Y1/ ECO204Y1/ ECO206Y1; ECO202Y1/ ECO208Y1/ ECO209Y1; ECO220Y1/ ECO227Y1/ ( STA237H1, STA238H1)/ ( STA247H1, STA248H1)/ ( STA257H1, STA261H1)
Breadth Requirements: Society and its Institutions (3)

ECO420Y1 - Special Topics in Economics

Hours: 48S

Seminars or workshops may be offered in one or more subjects each year.

Prerequisite: ECO200Y1/ ECO204Y1/ ECO206Y1, ECO220Y1/ ECO227Y1/ ( STA237H1, STA238H1)/ ( STA247H1, STA248H1)/ ( STA257H1, STA261H1), at least 1.0 credit in ECO at the 300+ level. Further prerequisites (e.g. ECO225H1) may be required and may vary from year to year, consult the Department of Economics website/current Timetable for more information.
Breadth Requirements: Society and its Institutions (3)

ECO421H1 - Special Topics in Economics

Hours: 36S

Seminars or workshops may be offered in one or more subjects each year.

Prerequisite: ECO200Y1/ ECO204Y1/ ECO206Y1, ECO220Y1/ ECO227Y1/ ( STA237H1, STA238H1)/ ( STA247H1, STA248H1)/ ( STA257H1, STA261H1), at least 1.0 credit in ECO at the 300+ level. Further prerequisites may be required and may vary from year to year, consult the Department of Economics website/current Timetable for more information.
Breadth Requirements: Society and its Institutions (3)

ECO422H1 - Special Topics in Economics

Hours: 36S

Seminars or workshops may be offered in one or more subjects each year.

Prerequisite: ECO200Y1/ ECO204Y1/ ECO206Y1, ECO202Y1/ ECO208Y1/ ECO209Y1, ECO220Y1/ ECO227Y1/ ( STA237H1, STA238H1)/ ( STA247H1, STA248H1)/ ( STA257H1, STA261H1), at least 1.0 credit in ECO at the 300+ level. Further prerequisites may be required and may vary from year to year, consult the Department of Economics website/current Timetable for more information.
Breadth Requirements: Society and its Institutions (3)

ECO423H1 - Economics and Biosocial Data

Hours: 24L/12T

This course introduces and critically assesses economic research that uses genetic, neuroscientific, and other biosocial data. We will address questions such as: what are the effects of brain neurochemistry on economic decision-making? What role do nature and nurture play in economic behaviour and outcomes? What can we learn from genoeconomics? What are the policy implications (or lack thereof) of related findings? No previous background in biology or genetics is required.

Prerequisite: ECO200Y1/ ECO204Y1/ ECO206Y1, ECO220Y1/ ECO227Y1/ ( STA237H1, STA238H1)/ ( STA247H1, STA248H1)/ ( STA257H1, STA261H1), at least 1.0 credit in ECO at the 300+ level.
Exclusion: ECO422H1 (Special Topics in Economics: Biology, Genetics and Economics), offered in Winter 2017.
Recommended Preparation: ECO372H1/ ECO374H1/ ECO375H1
Breadth Requirements: Society and its Institutions (3)

ECO424H1 - Topics in Experimental Economics

Hours: 24L/12T

Experimental Economics is a relatively new and very exciting field in economics. While most data used in economics is observational, experimentalists use controlled environments to study various economic issues: from individual decision making, to interaction in games and markets, to asset markets and even macroeconomic issues. In this “hands on” course, students read the background literature in a few areas of current academic research, design and conduct human-subject experiments, ultimately submitting a paper where they draw conclusion from their analysis of real data.

Prerequisite: ECO200Y1/ ECO204Y1/ ECO206Y1, ECO220Y1/ ECO227Y1/ ( STA237H1, STA238H1)/ ( STA247H1, STA248H1)/ ( STA257H1, STA261H1), at least 1.0 credit in ECO at the 300+ level.
Exclusion: ECO421H1 (Special Topics in Economics: Experimental Economics), taken Fall 2020 and Fall 2022.
Recommended Preparation: ECO316H1/ ECO326H1
Breadth Requirements: Society and its Institutions (3)

ECO425H1 - Business Cycles

Hours: 24L/12T

This course builds on material covered in ECO208Y1. Students will learn how to use business cycle models to better understand key empirical features of the macroeconomy. Topics covered include: the financial crisis, monetary policy, fiscal policy, theories of unemployment, and the effects of innovation on economic fluctuations, the Great Depression and the Financial Crisis.

Prerequisite: ECO200Y1/ ECO204Y1/ ECO206Y1, ECO202Y1/ ECO208Y1/ ECO209Y1, ECO220Y1/ ECO227Y1/ ( STA237H1, STA238H1)/ ( STA247H1, STA248H1)/ ( STA257H1, STA261H1), at least 1.0 credit in ECO at the 300+ level.
Corequisite: ECO374H1/ ECO375H1
Breadth Requirements: Society and its Institutions (3)

ECO426H1 - Market Design

Hours: 24L/12T

This course presents the theory and practice of market design, including matching markets and auctions. Sample topics include: school choice, kidney exchange, spectrum auctions, and keyword auctions.

Prerequisite: ECO316H1(60%)/ ECO326H1
Breadth Requirements: Society and its Institutions (3)

ECO427H1 - Economics of Information

Previous Course Number: ECO421H1

Hours: 24L/12T

This course examines the role and the use of information in strategic situations. The class will expand on the material covered in game theory classes and illustrate it with applications. Topics include: communication, signalling, building reputations, adverse selection, etc.

Prerequisite: ECO316H1(60%)/ ECO326H1
Exclusion: ECO421H1 (Special Topics in Economics: Economics of Information), offered in Winter 2018 and Winter 2020.
Breadth Requirements: Society and its Institutions (3)

ECO428H1 - Classical Economic Thought

Hours: 24L/12T

An examination of the price, distribution, and growth theories of major economic thinkers before 1870, from pre-classical contributions by Aristotle, Mercantilists, and Physiocrats to the classical authors Adam Smith, David Ricardo, T.R. Malthus, and Karl Marx.

Prerequisite: ECO200Y1/ ECO204Y1/ ECO206Y1; ECO202Y1/ ECO208Y1/ ECO209Y1
Exclusion: ECO322Y5
Breadth Requirements: Society and its Institutions (3)

ECO429H1 - Economic Thought after 1870

Hours: 24L/12T

Economic analysis between 1870 and 1960, from the foundations of microeconomics by the Marginal Utility theorists of the 1870s (Jevons, Menger, and Walras), Alfred Marshall in the 1890s, and the capital theorists Bohm-Bawerk and Fisher in the early 1900s, to the Keynesian revolution in macroeconomics in the 1930s and Friedman's counter-revolution in the 1950s.

Prerequisite: ECO200Y1/ ECO204Y1/ ECO206Y1, ECO202Y1/ ECO208Y1/ ECO209Y1
Exclusion: ECO322Y5
Breadth Requirements: Society and its Institutions (3)

ECO430Y1 - Reading Course or Thesis

Intended for advanced Specialist students who have exhausted course offerings in a particular area. Students may apply by submitting an application detailing their proposed topic, consult Timetable for more information. The course is open only when a faculty member is available and willing to supervise. Applications will be jointly reviewed by the faculty member and Associate Chair, Undergraduate Studies. Not eligible for CR/NCR option.

Prerequisite: ECO200Y1/ ECO204Y1/ ECO206Y1, ECO202Y1/ ECO208Y1/ ECO209Y1, ECO220Y1/ ECO227Y1/ ( STA237H1, STA238H1)/ ( STA247H1, STA248H1)/ ( STA257H1, STA261H1), at least 1.0 credit in ECO at the 300+ level.
Breadth Requirements: Society and its Institutions (3)

ECO431H1 - Reading Course or Thesis

Intended for advanced Specialist students who have exhausted course offerings in a particular area. Students may apply by submitting an application detailing their proposed topic, consult Timetable for more information. The course is open only when a faculty member is available and willing to supervise. Applications will be jointly reviewed by the faculty member and Associate Chair, Undergraduate Studies. Not eligible for CR/NCR option.

Prerequisite: ECO200Y1/ ECO204Y1/ ECO206Y1, ECO202Y1/ ECO208Y1/ ECO209Y1, ECO220Y1/ ECO227Y1/ ( STA237H1, STA238H1)/ ( STA247H1, STA248H1)/ ( STA257H1, STA261H1), at least 1.0 credit in ECO at the 300+ level.
Breadth Requirements: Society and its Institutions (3)

ECO434H1 - Topics in Political Economy

Hours: 24L/12T

This course surveys recent advances in political economy, emphasizing the critical evaluation of empirical evidence pertaining to political economic theories. Topics vary by year, but may include: voters and electoral competition, and the political economy of media and political agency.

Prerequisite: ECO316H1/ ECO326H1; ECO374H1/ ECO375H1
Breadth Requirements: Society and its Institutions (3)

ECO435H1 - The Economics of Modern China

Hours: 24L/12T

A focus on post-1949 Chinese economy, and the PRCs economic legacy. Economic development during the Maoist period, particularly post-1979 reforms. China's experience is compared to Eastern Europe's and the role of China in the rapidly growing East Asian economy. This is a limited enrolment seminar requiring extensive reading.

Prerequisite: ECO200Y1(70%)/ ECO204Y1(70%)/ ECO206Y1(70%); ECO220Y1/ ECO227Y1/ ( STA237H1, STA238H1)/ ( STA247H1, STA248H1)/ ( STA257H1, STA261H1)
Breadth Requirements: Society and its Institutions (3)

ECO437H1 - Quantitative Macroeconomics

Hours: 24L/12T

In order to capture the complexity of economic behaviour and interactions, especially with a significant time dimension, modern models of the macroeconomy make considerable use of computer simulation. This course teaches students both how to develop the economic models, and how to solve and work with them computationally.

Prerequisite: ECO325H1
Breadth Requirements: Society and its Institutions (3)

ECO438H1 - Topics in Behavioural Economics

Previous Course Number: ECO422H1

Hours: 24L/12T

Behavioural Economics is a relatively new field that incorporates insights gained from psychological, experimental and neuroscientific studies. Research methods adapted from behavioural economics are now being employed in virtually every field in economics. The course will cover the main themes in behavioural economics: individual choices under risk and uncertainty, reference-dependent choices, intertemporal preferences, other-regarding preferences, bounded rationality in individual and interactive decision-making, and the measurement of rationality and recovery of preferences.

Prerequisite: ECO200Y1/​ ECO204Y1/​ ECO206Y1, ECO220Y1/ ECO227Y1/ ( STA237H1, STA238H1)/ ( STA247H1, STA248H1)/ ( STA257H1, STA261H1), at least 1.0 credit in ECO at the 300+ level.
Exclusion: ECO422H1 (Special Topics in Economics: Topics in Behavioural Economics), offered in Winter 2018, Winter 2019, and Winter 2020.
Breadth Requirements: Society and its Institutions (3)

ECO439H1 - Empirical Methods in Microeconomics

Hours: 24L/12T

This course studies the methods used in modern program evaluation and micro-econometrics to identify causal effects in the presence of potentially unobserved confounding factors. Covers a range of methods and designs, both experimental and quasi-experimental. There is a heavy emphasis on the application of these methods to a broad range of economic questions. Note: hands-on analysis of real-world data using computer programs is a course requirement. The course is open to all students who meet the prerequisites and necessary support for applicable software is provided.

Prerequisite: ( ECO372H1(70%)/ ECO374H1(70%)/ ECO375H1(60%)) OR ( ECO200Y1(80%)/ ECO204Y1(80%)/ ECO206Y1(80%), ( ECO220Y1(80%)/ ECO227Y1(80%))
Breadth Requirements: Society and its Institutions (3)

ECO446H1 - Advanced Public Economics

Hours: 24L/12T

Advanced topics in public economics and economic analysis of Canadian public policy. Through a mix of lectures and independent research, students will acquire theoretical and empirical tools for public policy analysis. Topics may include: income inequality and redistribution; fiscal federalism; taxation of corporate profits; and policies to deal with public goods and externalities. Note: hands-on analysis of real-world data using computer programs is a course requirement. The course is open to all students who meet the prerequisites and necessary support for applicable software is provided.

Prerequisite: ECO200Y1/ ECO204Y1/ ECO206Y1, ECO220Y1/ ECO227Y1/ ( STA237H1, STA238H1)/ ( STA247H1, STA248H1)/ ( STA257H1, STA261H1), at least 1.0 credit in ECO at the 300+ level.
Exclusion: ECO336Y1
Recommended Preparation: ECO372H1/ ECO374H1/ ECO375H1 (familiarity with STATA)
Breadth Requirements: Society and its Institutions (3)

ECO451H1 - Macroeconomic Growth

Hours: 24L/12T

Studies current empirical evidence, and corresponding theoretical models to explain and understand macroeconomic growth, and its varied experience across countries. Coverage and depth of treatment go beyond ECO362H1. Students may benefit from, but need not have taken ECO362H1.

Prerequisite: ECO325H1(60%)
Breadth Requirements: Society and its Institutions (3)

ECO456H1 - Special Topics in Financial Economics

Hours: 24L/12T

Courses may be offered in one or more subjects each year. Students must meet the prerequisites announced by the Department.

Prerequisite: See the Department of Economics website for details.
Breadth Requirements: Society and its Institutions (3)

ECO459H1 - International Trade Regulation

Hours: 24L

The theory and political economy of international trade, with examination of specific trade institutions: Bretton Woods, WTO, NAFTA, tariff administration, most-favoured nation treatment, antidumping regulation, subsidies and countervailing duties, agriculture, trade in services, trade-related intellectual property, trade and environment, trade and developing countries.

Prerequisite: ECO364H1, ECO365H1, permission of the instructor
Breadth Requirements: Society and its Institutions (3)

ECO461H1 - The Economics of Financial Risk Management

Hours: 24L/12T

This course is intended primarily for students in the Financial Economics specialist program and is not open to students in the BCom program. The role of risk management in both private and public sectors, a discussion of why firms and government should hedge financial risks; individual and social gains of financial risk management; identification and quantification of financial risks (including Value-at-Risk measures); how derivative securities can be used for financial risk management.

Prerequisite: ECO358H1(70%)
Exclusion: ACT349H1, RSM435H1, ECO460H5, ECO461H5
Breadth Requirements: Society and its Institutions (3)

ECO462H1 - Financial Econometrics

Hours: 24L/12T

This course is intended primarily for students in the Financial Economics specialist program. An introduction to the econometrics used in empirical finance, with an emphasis on estimation and inference using computer based applications. Topics will include: parametric and nonparametric models of volatility, evaluation of asset pricing theories, and models for risk management and transactions data.

Prerequisite: ECO358H1(70%); ECO375H1(70%)/ ECO375H5(70%)
Breadth Requirements: Society and its Institutions (3)

ECO464H1 - Empirical Financial Economics

Hours: 24L/12T

The course develops the tools used in empirical research in financial economics. Coverage may include: discrete choice models, duration models, instrumental variables, differences-in-differences, regression discontinuity, propensity score estimators, sample selection models and cumulative abnormal return calculation. Topics are drawn from: ownership structure, mergers and acquisitions, capital structure, payout policy, CEOs’ effect on the firm, executive compensation, insider trading, shareholder activism, and bank financing. Note: hands-on analysis of real-world data using computer programs is a course requirement. The course is open to all students who meet the prerequisites and necessary support for applicable software is provided.

Prerequisite: ECO358H1(70%)/ RSM332H1(70%); ECO374H1(70%)/ ECO375H1(70%)/ ECO375H5(70%)/ ECO327Y5(70%)
Recommended Preparation: ECO359H1
Breadth Requirements: Society and its Institutions (3)

ECO465H1 - International Finance

Hours: 24L/12T

An advanced course that addresses topics in international finance and macroeconomics. Potential topics include: foreign exchange market; exchange rate determination; empirical models of exchange rates; international financial markets and uncertainty; international CAPM and home bias; sovereign debt; optimal capital controls.

Prerequisite: One of the following: ECO365H1(80%)/( ECO325H1(60%), ECO374H1(60%))/( ECO325H1(60%), ECO375H1(60%))
Breadth Requirements: Society and its Institutions (3)

ECO466H1 - Empirical Macroeconomics and Policy

Hours: 24L/12T

Building on ECO325H1, ECO374H1 and ECO375H1, students increase their data literacy and learn modelling techniques to address policy issues. The course covers monetary policy conduct, central bank use of general equilibrium models, and basic techniques for predicting key macroeconomic variables. The class is divided into groups making regular presentations on current global and domestic issues, the economic outlook, and how the Bank of Canada should adjust monetary policy in the short run. At the end of the course, traditionally a group is chosen to compete in the Bank of Canada Governor's Challenge. Note: hands-on analysis of real-world data using computer programs is a course requirement. The course is open to all students who meet the prerequisites and necessary support for applicable software is provided.

Prerequisite: ECO208Y1(70%)/ ECO209Y1(70%)/ ECO202Y1(75%)/ ECO325H1(70%), ECO374H1(70%)/ ECO375H1(70%)
Exclusion: ECO466H5
Breadth Requirements: Society and its Institutions (3)

ECO475H1 - Applied Econometrics II

Previous Course Number: ECO376H1

Hours: 24L/12T

A research-oriented course continuing from ECO375H. The regression model is extended in several possible directions: time series analysis; panel data techniques; instrumental variables; simultaneous equations; limited dependent variables. Students will complete a major empirical term paper, applying the tools of econometrics to a topic chosen by the student.

Prerequisite: ECO375H1(70%)/ ECO374H1(80%), NOTE: STA302H1 is not accepted preparation.
Exclusion: ECO475H5
Breadth Requirements: Society and its Institutions (3)

ECO480H1 - Special Topics in Economics with Data Analytics

Hours: 24L/12T

Seminars or workshops in economics with a data analytics component may be offered in one or more topics each year. Note: hands-on analysis of real-world data using computer programs is a course requirement. The course is open to all students who meet the prerequisites and necessary support for applicable software is provided.

Prerequisite: ECO200Y1/ ECO204Y1/ ECO206Y1, ECO220Y1/ ECO227Y1/ ( STA237H1, STA238H1)/ ( STA247H1, STA248H1)/ ( STA257H1, STA261H1), at least 1.0 credit in ECO at the 300+ level. Further prerequisites (e.g. ECO225H1/ GGR272H1) may be required and may vary from year to year, consult the Department of Economics website/current Timetable for more information.
Breadth Requirements: Society and its Institutions (3)

ECO481H1 - Special Topics in Economics with Data Analytics

Hours: 24L/12T

Seminars or workshops in economics with a data analytics component may be offered in one or more topics each year. Note: hands-on analysis of real-world data using computer programs is a course requirement. The course is open to all students who meet the prerequisites and necessary support for applicable software is provided.


Prerequisite: ECO200Y1/ ECO204Y1/ ECO206Y1, ECO202Y1/ ECO208Y1/ ECO209Y1, ECO220Y1/ ECO227Y1/ ( STA237H1, STA238H1)/ ( STA247H1, STA248H1)/ ( STA257H1, STA261H1), at least 1.0 credit in ECO at the 300+ level. Further prerequisites (e.g. ECO225H1/ GGR272H1) may be required and may vary from year to year, consult the Department of Economics website/current Timetable for more information.
Breadth Requirements: Society and its Institutions (3)

ECO482H1 - Machine Learning Applications in Macroeconomic Finance

Hours: 24L/12T

This course introduces students to machine learning concepts and techniques, focusing on applications in macroeconomic finance. In the first part we review supervised and unsupervised machine-learning methods. In the second part, we focus on various questions and topics in macro-finance where the use of machine learning is increasingly common. Hands-on use of these techniques to solve economic problems in macro-finance will prepare students for more advanced machine learning courses.


Prerequisite: CSC108H1/ CSC110Y1/ CSC148H1, ECO200Y1/ ECO204Y1/ ECO206Y1, ECO202Y1/ ECO208Y1/ ECO209Y1, ECO220Y1/ ECO227Y1/ ( STA237H1, STA238H1)/ ( STA247H1, STA248H1)/ ( STA257H1, STA261H1), at least 1.0 credit in ECO at the 300+ level.
Exclusion: CSC311H1, STA314H1, ECO481H1 (Special Topics in Economics with Data Analytics: Macroeconomic Finance with Machine Learning Applications) taken in Fall 2022 or Winter 2023.
Breadth Requirements: The Physical and Mathematical Universes (5)

ECO483H1 - Health and Economic Inequality

Hours: 24L/12T

This course provides an interactive overview of the key themes in health and economic inequality, paying particular attention to the bidirectional causal relationship: poor health can lead to poor economic outcomes, while economic insecurity can have serious health implications. Focusing on the current empirical literature and employing a hands-on approach to economic and health data, we investigate social and economic determinants such as income, geography, family, health care, race and gender. Note: hands-on analysis of real-world data using computer programs is a course requirement. The course is open to all students who meet the prerequisites, and necessary support for applicable software is provided.

Prerequisite: ECO200Y1/ ECO204Y1/ ECO206Y1, ECO202Y1/ ECO208Y1/ ECO209Y1, ECO220Y1/ ECO227Y1/ ( STA237H1, STA238H1)/ ( STA247H1, STA248H1)/ ( STA257H1, STA261H1), at least 1.0 credit in ECO at the 300+ level.
Exclusion: ECO481H1 (Special Topics in Economics with Data Analytics: Health and Economic Inequality) taken in Fall 2023.
Breadth Requirements: Society and its Institutions (3)

ECO499H1 - Honours Essay in Applied Microeconomics

Hours: 24L/12T

Students will complete an original research paper on a topic of their choosing. Topic must be microeconomic and applied, meaning all papers will involve data and quantitative (regression) analysis.

Prerequisite: ECO200Y1/ ECO204Y1/ ECO206Y1; ECO202Y1/ ECO208Y1/ ECO209Y1; ECO220Y1/ ECO227Y1/ ( STA237H1, STA238H1)/ ( STA247H1, STA248H1)/ ( STA257H1, STA261H1); ECO372H1/ ECO374H1/ ECO375H1; an overall average of 73% across all ECO courses taken. Students will need to submit a supplemental application that briefly describes the topic of interest for the original research paper. The application form will be noted on the Timetable.
Recommended Preparation: ECO374H1/ ECO375H1 and ECO372H1
Breadth Requirements: Society and its Institutions (3)

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