Economics Courses

ECN 201 Principles of Microeconomics (3 credits)
Basic concepts of Economics. Overview of microeconomics, concepts, tools and techniques. Theory of demand, Elasticity consumer behaviour and market demand. Theory of production: production and cost functions. Price and out put determination in different product markets. Perfect competition, monopoly, oligopoly and monopolistic competition. Factor markets, pricing of factors of production. Markets and economic efficiency: public goods and externalities.

ECN 202 Principles of Macroeconomics (3 credits)
Basic concepts of Economics. Macroeconomics, concepts, tools and techniques. National income and other related concepts. Measurements and use, aggregate demand and supply, consumption and saving, investment. Demand and supply of money, and demand and supply of labour. Theories of national income determination in a closed economy. Business cycles, unemployment and inflation, fiscal, monetary and income policies. National income determination in an open economy, internal and external balance. Economic growth.
( Prerequisite: ECN 201)

ECN 301 Intermediate Microeconomics (3 credits)
Introductory remarks and discussion on economic models. Utility and choice. How changes in income and price affect choices. Market demand and different types of elasticity. Production and Costs. The Perfectly Competitive models and it's application. Models of Monopoly and other models of imperfect competition. General equilibrium and economic efficiency. Pricing in input markets, externalities and public goods.
( Prerequisite: ECN 201, ECN 202)

ECN 302 Intermediate Macroeconomics (3 credits)
The economic system as a whole and the way in which its functioning is affected by the behaviour of the independent sectors of which it is composed. Major factors affecting national income, use of the sectoral accounts in analysing economic prospects. Theory of national income, its measurement and determinants. Analysis of inflation, growth , debt, and public policy.
(Prerequisite: ECN 201, ECN 202)

ECN 350/ENV 301 Environmental Economics (3 credits)
The course starts with a discussion of growth, environmental restriction and sustainability. The basic economic concepts of government regulations and market failure, externality, public goods and (common) property are explained. This forms a basis for discussing and comparing various policy instruments such as command-and-control regulation, taxes, tradable permits and the criteria by which to judge various policy instruments when they are actually implemented in complex real world situation. Some time is also spent on natural resource accounting, “green” taxation, cost-benefit analysis and on discussing the various complex issues of valuing environmental services, the use of shadow prices etc.
(Prerequisite: ECN 201)

ECN 360 Development Economics (3 credits)
Development economics and third world nations. A global perspective. Common characteristics of developing nation. Alternative theories and the meaning of development. Growth, Poverty and Income distribution. Population and Development. Unemployment issues, dimension and analysis. Urbanization and rural urban migration: theory and policy. Agriculture and rural development. Education and development. Trade theory and development. The balance of payment. International finance and the Third World debt crisis. Export promotion, input substitution and economic integration.
( Prerequisite: ECN 201, ECN 202)

ECN 430 International Trade Theory (3 credits)
The relevance of international economics. The role of trade. The role of International Monetary relation. Law of comparative advantages and absolute advantage. Trade under different conditions: opportunity cost, constant cost and increasing cost, the Heckscher-Ohlin model. The main propositions of H-O model. The Rybezynski Theorem. The Stopler- Samulson model. The Factor Price Equdisation theorem The Leontif paradox. The specific factor model. Monopolistic competition and international trade. Lindens thesis. Technological gap and product cycle. Growth and trade: the source of economic growth. The effects of growth on small country. The concept of terms of trade. Growth in the world economy. Types of tariff. The practical equilibrium analysis of tariff. The general equilibrium of tariff. Measuring the cost of protection. The optimal tariff. The infant industry argument – Non Economic argument for protection. Export taxes and subsidies. Quantitative restrictions. International cartel, dumping and voluntary restrictions, customs unions and economic integration.
(Prerequisite: ECN 201, ECN 202)

ECN 440 Public Finance (3 credits)
Economic analysis of governmental activity. Public goods and externalities. Collective choice. Cost-benefit analysis. Public welfare programs. Microeconomics of taxation. Efficiency, incidence. Effect on distribution of income. Personal and corporate taxes including VAT. Taxation of property estates.
(Prerequisite: ECN 201, ECN202)

ECN 441/ENV 404 Natural Resource Economics (3 credits)
An Overview of Depletable and Renewable Resource Use. Depletable Energy resource: Oil, Gas, Coal and Uranium. Recyclable Resource: solar, Wind, and Water. Petroleum and OPEC. Water as a depletable resource. Agriculture as a private resource. The forests as a storable resource. The fisheries as a common-property resource. Generalized resource Scarcity. Case studies on the economic of energy, environment and development.
(Prerequisite: ECN201)

ECN/FIN 470 International Finance (3 credits)
Analysis of the impact of international trade and payments on price formation, allocation of resource, economic welfare, and the level of economic activity in trading countries. Political considerations. Full employment, effects and considerations. Price stability. Economic growth. Free trade. Fixed and flexible exchange rates. Capital Mobility. Equilibrium on the balance of international payments.
(Prerequisite: FIN 201)

ECN 480 Econometrics (3 credits)
Review of statistics, two variable regression, estimation function form, multiple regression, multicollinearity, heterosecedasticity and autocorrelation, specification errors, dummy variables, lagged variables, identification and system estimation.
(Prerequisite : ECN 301, ECN 302, MAT 202)

ECN 485 Mathematical Economics (3 credits)
An integration of economic analysis and mathematical techniques into a comprehensive body of knowledge within contemporary economic theory. Linear algebra. Differential calculus. Integral calculus. Differential equations. Linear and non-linear programming. Optimisation techniques. Elements of Real analysis.
(Prerequisite: ECN 301, ECN 302, MAT 2O2)