DEPARTMENT OF ECONOMICS

The Department

Chairperson: Alastair Robertson
Graduate Officer: Randall Wigle

The MA program in business economics is available through both a "regular" and a "co-operative" stream. This program prepares economists for a career where specialization is required in economic forecasting, economic policy analysis, industry and market studies, financial economics, strategic planning, and public policy and business. Combining a specific focus on business economics with advanced training in economic theory, quantitative methods and applied research, the program also prepares students for doctoral studies.

Faculty


Admission Requirements
In order to be admitted to the master's program, a student must meet the general admission requirements of the university. Applicants are expected to have an equivalent to an honours degree in economics. They are expected to have completed at least one one-term undergraduate course in each of calculus, econometrics (focussing on regression analysis), intermediate microeconomic theory and intermediate macroeconomic theory. Applicants with inadequate preparation in any of these areas will normally be required to complete additional undergraduate courses before they are admitted to the master's program.

An honours graduate in a program other than economics or general degree graduates may be admitted if evidence justifying admission is offered; however, a program of appropriate preparatory studies (qualifying year) will be required of such applicants. A student who has successfully completed the qualifying year with a minimum of B standing may apply for admission to the master's program.

Program Requirements
Each student must complete the equivalent of 12 one-term courses. The equivalent of seven half-credit courses are required, while five are electives. Students must complete four of the core courses in term one before proceeding to term two. Students may select up to three half-credit elective courses from graduate courses in the MBA program.

The required courses provide students with advanced knowledge in economic theory, applied economic analysis, quantitative methods, and empirical research and information sources. They are also designed to ensure that all students have a similar graduate experience, and achieve a comprehensive knowledge of their field, thus fulfilling the university's comprehensive requirement for MA candidates.

Term One (Fall)
EC620 Microeconomics I
EC640 Macroeconomics I
EC655 Econometrics
EC670 Empirical Research and Information Sources

Term Two (Winter)
EC665 Forecasting, Time Series Analysis, and Survey Design
Three elective courses, at least two of which are economics electives

Term Three (Spring - Regular Students; Winter - Co-op Students)
Two elective courses
EC681 Research Paper and Seminar

Co-operative Option Requirements
Students in the Master of Arts in Business Economics program who wish to pursue the co-op option must submit a cover letter, résumé, application form and transcript of their undergraduate program to the Department of Co-operative Education by the second Friday of the fall term. The business economics co-op is a limited-enrolment program, and admission is competitive. A co-op co-ordinator will interview each applicant and make an admission decision based on the applicant's academic record, interview performance, recent work experience, recent volunteer service to their community, and extracurricular activities at university. Offers of admission to the co-op option will be made by mid-October. Co-op students support the administration of the Laurier Co-op program by paying fees in the fall and winter terms of year one.

The Co-op Office supports participants in their job search efforts and preparation for interview through workshops and individual attention. After completing two academic terms, co-op students embark on an eight-month work term between May and December. In order to proceed to their first work term, all co-op students must be in good academic standing and must have completed all of the core requirements of term one and term two. Towards the end of the work term, students discuss their experience in a work term report that will be reviewed by a co-op co-ordinator and the graduate officer of the Department of Economics.

After their work term, co-op students return to campus for a final academic term between January and April.

Graduate Courses
Note: Not all courses are offered every year. Contact the department before accepting an offer of admission to determine whether the courses you wish to complete will be offered during your period of residency.

EC603    0.5
Economic Evaluation and Decision-Making
The methods of applied rational decision making, including cost-benefit analysis and cost effectiveness.

EC606    0.5
Economics of Labour Markets
The evaluation and development of policies for labour market issues, including pay equity, immigration, manpower training and unemployment insurance reform.
EC610    0.5
Special Topics in Economics
An in-depth examination of one applied and/or theoretical topic in economics, to be chosen by the faculty.
EC620    0.5
Microeconomics I
The economic theory of business decision making and its application to a variety of problems. Strategic decisions are emphasized.

EC623    0.5
Financial Economics
This course covers models of financial markets, including asset pricing and financial decisions of firms. Other topics that may be covered include the capital asset pricing model, portfolio theory, capital structure, risk and insurance.

EC630    0.5
Microeconomics II: Topics in the Microeconomics of Firm Decision Making
The application of microeconomic models to marketing, organizational design, finance and strategic planning.
EC636    0.5
Economics of Population
This course examines the linkages between the Canadian economy and changes in Canada's demographic structure. Emphasis is placed on the cause-and-effect relationship between the level and characteristics of population fertility, mortality and migration, and Canada's economy.
EC639    0.5
International Trade
The institutions and rules of international economic relations, the international economic environment and the economic case for trade liberalization.
EC640    0.5
Macroeconomics I
A study of modern macroeconomics, including economic growth, money demand and macroeconomic policy in the short run.
EC649    0.5
International Finance
The role of international capital markets in economic growth and development is studied. The integration of international capital markets creates international links between national price levels, national interest rates and national stock markets. The market for foreign exchange is an important part of such links. Appropriate economic policies in a financially interdependent world are considered. The course combines economic theory and a review of significant empirical work.
EC650    0.5
Macroeconomics II: Topics in Applied Macroeconomics
Issues in the development, implementation and effects of macroeconomic policy as it relates to the business environment.
EC655    0.5
Econometrics
A survey of applied econometrics, including basic regression theory and an examination of a variety of econometric applications in both microeconomics and macroeconomics.
EC665    0.5
Forecasting, Time Series Analysis, and Survey Design
The use in business of time series analysis, economic forecasting and survey methods.
EC670    0.5
Empirical Research and Information Sources
The conduct and presentation of empirical economic research, including methodologies and the information sources that are especially useful to business economists.
EC681    1.0
Research Paper and Seminar
The completion of a research paper on a topic related to one or more of the graduate courses that students have completed. Co-operative education students may select topics that relate to their work term experience. Students give presentations based on their research paper.
EC690    0.5
Directed Studies
Prerequisite: Permission of the instructor and the graduate officer.