INTERNAL MEMORANDUM TO: Dr Ollivier Dyens, Vice-Provost ...

INTERNAL MEMORANDUM
TO: Dr Ollivier Dyens, Vice-Provost
Teaching and Learning
Chair, Academic Programs Committee
FROM: Dr Brian Lewis, Dean, Faculty of Arts and Science
Chair, Arts and Science Faculty Council
DATE: 25 October 2010
SUBJECT:
2011-2012 Major Undergraduate Curriculum Proposal:
Department of Economics
ECON-16
The Academic Programs Committee has reviewed and approved the
following proposal. The Arts and Science Faculty Council requests that it be
sent forward for consideration at the November 5, 2010 meeting of Senate.
The Department of Economics is changing the econometrics requirement of
the Minor in Analytical Economics. Students will now be permitted to fulfill
this requirement with either ECON 421 Econometrics I or ECON 423 Applied
Econometrics.
In addition, the Department is increasing the prerequisite flexibility on ECON
221 Statistical Methods I to include not only MATH 201 Elementary Functions
but also MATH 206 Algebra and Functions, and ECON 421 Econometrics I by
adding “or equivalent” to cover courses from Mathematics and Statistics.
Finally the course description of ECON 464 Game Theory, Information, and
Economic Modelling is being revised to better reflect current course content.
Committee document nos.:
FCC 10/2U-ECON-16
ASFC 2010-5M-G
APC-2010-7-D10
1

Department of Economics
Memo from the Undergraduate Program Director
Program Change
Minor in Analytical Economics
Prerequisite Changes
ECON 221 3 Statistical Methods I
ECON 421 3 Econometrics I
Course Description and Note Change
ECON 464 3 Game Theory, information, and Economic Modelling
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INTERNAL MEMORANDUM
TO:
FROM:
Joanne Locke, Vice Dean curriculum
Carol Lau, Director Economics Undergraduate Program
DATE: September 16, 2009
SUBJECT: Curriculum Changes 2011-12
Re: Curriculum Changes
We would like to submit the following departmentally-approved changes for our program.
Economics 464:
The description better reflects the course content.
Analytical Economics Minor: Students can take Econ 421 or Econ 423 as their
econometrics requirement. Either is sufficient.
Prerequisites have been broadened for ECON 221 and ECON 421 for easier access.
3

PROGRAM AND COURSES CHANGE FORMS FOR DOCUMENT: ECON-16 VERSION: 2
PROGRAM CHANGE: Minor in Analytical Econ
Proposed [X] Undergraduate or [ ] Graduate Curriculum changes
Calendar for academic year: 2011/2012
Implementation Month/year: September 2011
Faculty/School:
Arts and Science
Department:
Economics
Program:
Arts & Science
Degree:
Economics
Calendar Section/Graduate Page Number:31.080
Type of Change:
[ ] Editorial
[ ] New Program
[X] Requirements [ ] Regulations [ ] Program Deletion
Present Text (from 2010/2011) calendar
24 Minor in Analytical Economics
NOTE: MATH 203 or 209; MAST 221; or equivalent are prerequisites
for this program. ECON 201, 203, and 325 are waived as
prerequisites only for those courses which are taken as part of the
Minor.
3 ECON 222 3
12 ECON 301 3 , 302 3 , 303 3 , 304 3
3 Chosen from ECON 318 3 , 319 3
3 ECON 324 3
3 ECON 423 3
NOTE: This program is intended for students in Science,
Mathematics/Statistics, or Engineering.
Proposed Text
24 Minor in Analytical Economics
NOTE: MATH 203 or 209; MAST 221; or equivalent are prerequisites
for this program. ECON 201, 203, and 325 are waived as
prerequisites only for those courses which are taken as part of the
Minor.
3 ECON 222 3
12 ECON 301 3 , 302 3 , 303 3 , 304 3
3 Chosen from ECON 318 3 , 319 3
3 ECON 324 3
3 Chosen from ECON 421 3 , 423 3
NOTE: This program is intended for students in Science,
Mathematics/Statistics, or Engineering.
Rationale: As is the case with students in the specialization in Economics, students in the Minor are permitted to fulfill the econometrics requirement with either ECON 421
Econometrics I or ECON 423 Applied Econometrics.
Resource Implications: None
4
D1

PROGRAM AND COURSES CHANGE FORMS FOR DOCUMENT: ECON-16 VERSION: 2
COURSE CHANGE: ECON 221
New Course Number:
Proposed [X] Undergraduate or [ ] Graduate Curriculum changes
Calendar for academic year: 2011/2012
Implementation Month/year: September 2011
Faculty/School:
Arts and Science
Department:
Economics
Program:
Degree:
Calendar Section/Graduate Page Number:31.080
Type of Change:
[ ] Course Number
[ ] Course Description
[ ] Course Deletion
[ ] Course Title
[ ] Editorial
[ ] Other - Specify:
[ ] Credit Value
[ ] New Course
[X] Prerequisite
Present Text (from 2010/2011) calendar
Proposed Text
ECON 221 Statistical Methods I (3 credits)
Prerequisite: Cegep Mathematics 311 or MATH 201. This course
examines elementary probability, permutations and combinations,
binomial and normal distribution, as well as analysis and
organization of economic data, tests of hypotheses, confidence
limits, introduction into linear regression and correlation with
applications to economics.
NOTE See §200.7
ECON 221 Statistical Methods I (3 credits)
Prerequisite: Cegep Mathematics 311 or MATH 201 or 206. This course
examines elementary probability, permutations and combinations,
binomial and normal distribution, as well as analysis and
organization of economic data, tests of hypotheses, confidence
limits, introduction into linear regression and correlation with
applications to economics.
NOTE See §200.7
Rationale: Both MATH 201 Elementary Functions and MATH 206 Algebra and Functions provide the necessary background for ECON 221.
Resource Implications: None
Other Programs within which course is listed:
5
D2

PROGRAM AND COURSES CHANGE FORMS FOR DOCUMENT: ECON-16 VERSION: 2
COURSE CHANGE: ECON 421
New Course Number:
Proposed [X] Undergraduate or [ ] Graduate Curriculum changes
Calendar for academic year: 2011/2012
Implementation Month/year: September 2011
Faculty/School:
Arts and Science
Department:
Economics
Program:
Degree:
Calendar Section/Graduate Page Number:31.080
Type of Change:
[ ] Course Number
[ ] Course Description
[ ] Course Deletion
[ ] Course Title
[ ] Editorial
[ ] Other - Specify:
[ ] Credit Value
[ ] New Course
[X] Prerequisite
Present Text (from 2010/2011) calendar
Proposed Text
ECON 421 Econometrics I (3 credits)
Prerequisite: ECON 324, 326. This course develops the simple and
multiple classical regression models. The problems of mis-specified
structures, multi-collinearity, and forecasting are also presented.
ECON 421 Econometrics I (3 credits)
Prerequisite: ECON 324, 325 or equivalent. This course develops the
simple and multiple classical regression models. The problems of
mis-specified structures, multi-collinearity, and forecasting are
also presented.
Rationale:
Instructors of this course consider Economics 325 sufficient as a pre-requisite for Econ 421. Because this Minor is oriented to
students with solid mathematical skills, many students in the Minor will have taken equivalent courses to ECON 325 such as MAST 234,
MATH 251 or higher.
Resource Implications: None
Other Programs within which course is listed:
6
D3

PROGRAM AND COURSES CHANGE FORMS FOR DOCUMENT: ECON-16 VERSION: 2
COURSE CHANGE: ECON 464
New Course Number:
Proposed [X] Undergraduate or [ ] Graduate Curriculum changes
Calendar for academic year: 2011/2012
Implementation Month/year: September 2011
Faculty/School:
Arts and Science
Department:
Economics
Program:
Degree:
Calendar Section/Graduate Page Number:31.080
Type of Change:
[ ] Course Number
[X] Course Description
[ ] Course Deletion
[ ] Course Title
[ ] Editorial
[ ] Other - Specify:
[ ] Credit Value
[ ] New Course
Note deletion.
[ ] Prerequisite
Present Text (from 2010/2011) calendar
Proposed Text
ECON 464 Game Theory, Information, and Economic Modelling
(3 credits)
Prerequisite: ECON 222, 302, 304. This course covers topics in
non-cooperative game theory and information economics such as
dominance, Nash equilibrium, subgame perfection, repeated games,
bayesian equilibrium, sequential equilibrium, signalling,
bargaining, auctions, moral hazard, adverse selection, and
bounded rationality. The course focuses on applications, such as
auditing games, nuisance suits, product quality, lemons models,
entry deterrence, insurance models, winner’s curse, innovation
and patent races.
NOTE: Students who have received credit for this topic under an
ECON 498 number may not take this course for credit.
ECON 464 Game Theory, Information, and Economic Modelling (3 credits)
Prerequisite: ECON 222, 302, 304. This introductory course on game
theory is a collection of mathematical tools to model and analyze
strategic interactions in a variety of settings, from economic and
social situations to politics and international relations. The course
focuses on both non-cooperative and cooperative game theoretic
modelling, in particular, strategic and extensive form games,
Bayesian games, and coalitional games. Students learn to solve games
using the concepts of dominant strategies, Nash-equilibrium, subgame
perfection, Bayesian equilibrium, and the core. Applications may
include repeated games, auctions, bargaining, oligopoly games, entry
deterrence, pricing strategies, and collusion.
Rationale:
The changes in the course description involve minor updating of content.
topic under an ECON 498 number has not been offered in over 5 years.
The description better reflects the course content. This
Resource Implications: None
Other Programs within which course is listed:
None
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D4