The Firm - Micro-economic Analysis
In this stream, students build on their knowledge of elementary microeconomics (acquired in the core BUSO course AP/ECON 1000 3.0 Introduction to Microeconomics.
The focus of this stream is the theory and practice of the firm in modern capitalist economies. Students have the opportunity to study issues in management, industrial organization and industrial policy. They will become familiar with different industrial structures, models of the firm (monopoly, oligopoly and competitive models of the firm) and decision-making processes within firms regarding pricing, merger and acquisition, product differentiation, research and development.
Students also study the implications of firms' behaviour for government policy. Questions to be raised here concern anti-trust law and competition policy, subsidization of "key sectors", differing forms of industrial regulation, innovation policy and regional policy.
As prerequisites to the above, students in this stream are required to take four quantitative economics courses which will equip them with a good understanding of mathematical and statistical methods which the study of economics presupposes. In addition, students can learn intermediate microeconomic theory, game theory and econometric theory.
This stream is highly recommended for those who wish to study economics at a graduate level as it provides many of the prerequisites for graduate training in economics.
- BA Requirements
- AP/ECON 1530 3.0 Introductory Mathematics for Economists I
- AP/ECON 1540 3.0 Introductory Mathematics for Economists II
- AP/ECON 2500 3.0 Introduction to Statistics for Economists I
- AP/ECON 3210 3.0 Use of Economic Data** or
AP/ECON 3500 3.0 Intro. to Mathematical.Statistics for Economists
An additional six credits, including at least three credits at the 3000 level from:
AP/ECON 2300 3.00 Intermediate Microeconomics: Theory I
AP/ECON 2350 3.00 Intermediate Microeconomics: Theory II
AP/ECON 3200 3.00 Industrial Organization
AP/ECON 3411 3.00 Managerial Economics & Strategy
AP/ECON 3350 3.00 Economic Theories of Entrepreneurship
- Honours BA Requirements
In addition to the above, students must include at least six credits chosen from:
AP/ECON 4130 3.00 Game Theory in Economics
AP/ECON 4210 3.00 Econometrics
AP/ECON 4220 3.00 Topics in Econometrics
AP/ECON 4350 3.00 Topics in Industrial Organization
* Students may not combine this Stream Option with Option A (Macroeconomic Analysis) in the Macroeconomy Stream
** Students who take this course as part of the Macroeconomy Stream should replace it with another course chosen from the listed course options at the 2000 or 3000 level