Before being allowed to enrol in graduate courses (including the math pre-requisite course) new students must attend a group advising session with the Graduate Program Director.

MA candidates may not take more than three courses from the same instructor. Course Outlines are available from the course instructor's webpage and in the Graduate Program Office.

Economics Graduate Schedule Fall 2022 -Winter 2023

ECON Graduate Schedule Fall 2022-Winter 2023

Integrated Courses

Students will not be permitted to enrol or receive credit for any graduate level integrated course(s) if the course(s) was previously taken at the undergraduate level at York University or at another institution(s).

Program Requirements

Faculty of Graduate Studies—Program Requirements

List of Courses

Note: Not all courses are offered every year.

Economics 5000 0.0: Mathematics for Economists

Students must demonstrate competence in calculus, linear algebra, and statistics by enrolling in this course and obtaining a passing grade.

Note: The Mathematics Cognate Requirement will not be included among the eight half courses required for the master’s degree. This course is offered only once a year in August. All MA students must successfully complete this course. This course is evaluated as a Pass/No Pass course and is not to be included as part of the 24 credits required. No course credit.

Economics 5010 3.0: Applied Microeconomics

A master’s-level course in which the emphasis is on development of theories and applications of consumer and product behaviour (cost and expenditure functions) and economic distribution.

Students may not receive credit for both Economics 5010 3.0 and 5100 3.0.

Course outline - GS ECON 5010A F22

Economics 5011 3.0: Applied Macroeconomics

This is a self-contained course in macroeconomics, emphasizing macro models designed to explain current fiscal and monetary policies and possible alternative policies with respect to stabilization and growth.

Students may not receive credit for both Economics 5011 3.0 and Economics 5110 3.0.

Course outline - GS ECON 5011A F22

Economics 5025 3.0: Applied Econometrics

This is a one-term MA course in the application of Econometrics. This course will focus on the understanding of single and multiple equation regression models and their development in Economics. Specific topics include demand and supply functions, cost and production, models of labour supply, and time series analysis including unit roots, cointegration and forecasting, hedonic decomposition; valuation models and limited dependent variables.

Students may not receive credit for both Economics 5025 3.0 and Economics 6220 3.0.

Economics 5030 3.0: Econometrics of Financial Markets

The course focuses on making the transition from an asset pricing model to an econometric model and provides a comprehensive knowledge of the econometric methods and techniques used in modern empirical finance. Theoretical analysis of the problems is combined with empirical exercises based on the use of real financial data.

Economics 5070 3.0: Economics in Historical Perspective

Economic concepts and ideas which form the background to neoclassical and Marxian economic analysis; mercantilist, physiocratic and classical economic theories and their relationship to social-historical events as well as their contemporary relevance.

Economics 5100 3.0: Microeconomic Theory

A prequel of GS/ECON 6100 3.00. Topics include: Consumer and Producer Theories; Choice under Uncertainty, including: Portfolio Choice; Capital Structure; Stochastic Dominance; General Equilibrium; Social Welfare Functions; Arrow's Impossibility Theorem; Second Best; Moral Hazard; Adverse Selection; Signalling; Dynamic Competition; Bargaining; Incomplete Contracts. Course credit exclusion: GS/ECON 5010 3.00.

Course outline - GS ECON 5100A F22

Economics 5110 3.0: Topics in Macroeconomic Theory

This course offers intensive training in contemporary macroeconomic analysis. This course along with Economics 6110 3.0 constitutes our basic core requirement as preparation for the comprehensive examination in macroeconomic theory.

Students may not receive credit for both Economics 5110 3.0 and Economics 5011 3.0.

Economics 5220 3.0: Econometric Theory

This course covers selected inference methods in cross-section and time series analysis. It introduces various modelling and estimation techniques for data, which do not satisfy the assumptions of the classical general linear model. Topics include elements of the asymptotic theory, the random regressors model, linear models with heteroscedastic and auto correlated errors, the simultaneous equations models and basic time series analysis techniques. Consequently, asymptotic estimation methods like the generalized least squares, instrumental variables, methods of moments and time permitting, the non linear least squares will be presented as well as asymptotic tests, i.e., Wald Likelihoood Ratio and Lagrange Multiplier tests.

Prerequisite: calculus, basic mathematical statistics and an introduction to econometrics.

Economics 5260 3.0: Productivity Analysis

This is a graduate course on analytical and empirical aspects of productivity theory. The course will familiarize students with a wide variety of conceptual, theoretical, econometric and practical tools that are currently used in productivity analysis. Students will be required to write a major paper in the area.

Prerequisite: Economics 5100 3.0 or Economics 5010 3.0 or equivalent.

Economics 5300 3.0: Public Economics I

The theory of taxation, including; tax incidence; the effects of taxation on saving; investment and labour supply; optimal taxation; fiscal federalism; the choice of tax base; economic effects of some specific taxes.


Economics 5310 3.0: Public Economics II

The theory of social goods; the theory of public expenditures; development of criteria for evaluation of public expenditures; intergovernmental financial relations in the Canadian economy.

Economics 5320 3.0: Game Theory

This course introduces the central concepts of non-cooperative game theory, including Nash equilibrium and its refinements.  The applications of these concepts to various areas of economics will be emphasized.

Course outline - GS ECON 5320A F22

Economics 5380 3.0: Theory of Growth in a Socialist Economy: Kalecki’s Growth Model

Balanced growth concept and problem of effective demand in socialist and capitalist economies; acceleration of growth and maximization of consumption in the short and long run. Kalecki’s concept of technical progress: the choice of techniques in order to maximize production and consumption; problems of inflation in socialism and capitalism.

Same as Social & Political Thought 6312 3.0.

Economics 5390 3.0: Economic Planning in Socialism: A Comparative Analysis

An historical review of Eastern and Western literature concerning the concept of a socialist economic system; concentration on problems of planning techniques in Western and Eastern European countries, models of management, the role of the market in allocation of resources and on the criteria of evaluation of efficiency in socialism and capitalism.

Economics 5430 3.0: Modern Industrial Organization

An examination of certain aspects of monopoly, oligopoly and competition among them: product selection and quality; vertical controls; strategic behavior and innovation games.

Course outline - GS ECON 5430A F22

Economics 5440 3.0: Auction Theory in Industrial Organization

The course presents the main results and methods from a major subfield of industrial organization: the theory of auctions and procurements.  Using game theoretic models with incomplete information, it studies the relative performances of standard auction procedures and the design of efficient and optimal selling and buying mechanisms.

Economics 5459 3.0: Health Economics

This course provides an economic analysis of health care services. It begins with a discussion of what makes the provision of health services different from that of most other goods and services we examine in economics.

Integrated with the undergraduate course AP/ECON 4259 3.0.

Economics 5460 3.0: Economics of Natural Resources

Theories of replenishable and exhaustible resource exploitation and of the environment. This course presents models of resource management and examines objectives and controllability as well as the nature of existing management programs.

Economics 5470 3.0: Urban Economics

The microeconomics of production, consumer behavior and equilibrium are used to model urban spatial structure. Welfare economics is used to analyse urban issues such as local public finance, city size, transportation investment and pricing, housing assistance, pollution and land use planning.

Economics 5475 3.0: Housing Economics

This course examines housing markets and housing policy. Models of demand, supply, and housing market equilibrium are developed emphasizing the special characteristics of housing. Welfare economics is used to study the design of optimal policies.

Economics 5480 3.0: Economics of Education

This is an introductory graduate course in the economics of education and is designed to provide students with a broad coverage of the field. We will cover both classic and emerging topics, mainly from an empirical microeconomic perspective, although the required theoretical foundations will be covered as well. Students will be introduced to a variety of ideas to help them think critically about education policy. The course is taught mainly through discussion of academic papers in the economics of education, and topics include, but are not limited to, education production functions; class size reforms; incentives for educators; the returns to higher education; teacher quality measurement and policy; and applications of behavioral economics in the field. The course also provides a brief review of basic econometric techniques.

Economics 5490 3.0: Energy Policy Modeling

The course explores energy policy issues evolving around proper mix of energy conservation and production stimulus and their impact on economic growth and development. It includes: energy-economy interactions; pricing, import policy, and investment; and transition to post-petroleum epoch.

Economics 5500 3.0: Advanced Monetary Economics

The nature and implications of monetary phenomena in the economy with emphasis on the empirical importance of monetary factors in inflation and business cycle fluctuations; the channels of influence of monetary policy on the economy; optimal stabilization policy.

Economics 5510 3.0: International Monetary Economics

This course deals with the theory and policy of International Finance and open economy Macroeconomics. Among the topics covered are foreign-currency markets, balance of payments, open economy models, exchange rate regimes, policy coordination, expectations formation, and inflation and stabilization.

Economics 5520 3.0: Economics of Financial Markets

The objective of the course is to undertake a rigorous study of the theoretical foundations of modern financial economics. The course covers the central themes of modern finance including individual investment decisions under uncertainty, stochastic dominance, mean-variance theory, capital market equilibrium and asset valuation, arbitrage pricing theory, option pricing, and the potential application of these themes. Upon completion of this course, you will acquire a clear understanding of the major theoretical results concerning individuals' consumption and portfolio decisions under uncertainty and their applications for the valuations of securities.

Economics 5530 3.0: Financial Crises

This course examines a variety of theories of financial crises, exploring the range of historical experience in different countries and examining the various attempts by national and international organizations to monitor financial fragility and to resolve crises.

Prerequisites: York AP/ECON 2300 3.0 and 2350 3.0: Microeconomics and Economics 2400 3.0 and 2450 3.0: Macroeconomics at the intermediate undergraduate level, or equivalents, and at least one complementary graduate course in economics, sociology, political science, or business/finance.

Economics 5600 3.0: Labour Economics

This course deals with extensions of the neoclassical labour market model, e.g., life-cycle approach to labour supply, human capital theory and signalling, hiring decisions under uncertainty, wage and employment discrimination. The course stresses the interaction between market and non-market forces in the discussion of models of collective bargaining and strike activity.

Economics 5620 3.0: Empirical Labour Economics

This course focuses on the methodological and practical issues that arise when estimating casual relationshiops that are of interest to labour ecnomists. Empirical research on labour supply, labour demand, wage structure, human capital, causal effect of education on earnings, job mobility, internal migration and immigration, and evaluation of job training programs are discussed based on recent literature.

Econonomics 5650 3.0: Economics of Regulation and Antritrust

This course examines the “why” and “how” of government market intervention from an economic perspective. Past and current theories of antitrust enforcement and economic regulation are reviewed, and then used to assess a variety of case studies. Although the course emphasizes the North America experience, lessons are drawn from other jurisdictions, in particular, the European Union.

Prerequisite: Economics  5430 3.0.

Economics 5700 3.0: Economic Development

Topics include Neoclassical and structural (dual economy) models; poverty, inequality and underemployment; international trade, investment, aid and debt; development planning; rural development and problems of urbanization; financial and fiscal aspects of development.

Economics 5750 3.0:Topics in North American Economic History

This is a graduate level course aimed to familiarize students with select important topics in economic history, with a focus on the United States and Canada, and to acquaint them with empirical methods of research in economic history. The course will focus on micro themes (i.e. research analyzing individuals, localities or firms) that are important across North America, with some focus on topics unique to the United States. These topics include an overview of the importance of history and institutions to economic development; slavery in the United States and its long-term economic impacts; industrialization and manufacturing in the U.S. and Canada; migration and economic mobility; natural resources and agriculture in Canadian and American development; urbanization and suburbanization in the U.S.; health and mortality; marriage and fertility; and the economics and politics of early social assistance programs.

Economics 5800 3.0: International Trade Theory

The pure theory of international trade: conditions of production; the factor price equalization theorem; factor mobility of factors of production; transfer mechanism and international capital movement; the terms of trade; the theory of tariffs and of customs unions and free trade areas; and imperfect competition in trade models.

Economics 5820 3.0: International Trade II

This course covers the empirical aspects of international trade. Topics include: tests of international trade theories; empirical studies of the relationship between international trade and labour markets, effects of trade and foreign direct investment on developing countries, productivity and its relation to international trade, and effects of the FTA and NAFTA on Canadian Economy.

Economics 5900 3.0: Law and Economics

This course applies microeconomic analysis to legal institutions in the area of common law (property law, tort law, and contract law). Emphasis is given to analysing the economic consequences of the assignment of property rights, various kinds of liability rules and remedies for breach of contract.

Integrated with AP/ECON 4309 3.0.

Economics 5910 3.0: International Trade Policy and Economic Integration

A study of current policy issues in international trade and economic integration. Topics, which may vary according to students interests, include multilateralism and regionalism; recent trade arrangements such as NAFTA and World Trade Organization; political economy of free trade and protectionism; linkages between trade, development and the environment; and “newer” issues such as trade in services, intellectual property rights, and transnational corporations. Theoretical elements will be provided and empirical work discussed, to the extent that they illuminate the policy issues at hand.

Prerequisite: AP/ECON 3150 3.0 or equivalent.
Integrated with AP/ECON 4129 3.0.

Economics 5950 3.0: Public Choice Theory: The Economics of Politics

This course applies basic tools of microeconomics to answer questions central to political science. Special emphasis is given to the analysis of public choice in a direct democracy and in a representative democracy.

Economics 5990 3.0: Reading or Research Course in Selected Topic

Supervised reading or research courses in topics not included or currently offered. The following course titles are provided as examples: Price and Value Theory in the History of Economic Thought; Mathematics and Monetary Analysis in the History of Economic Thought; and, Socioeconomics.

Economics 5990G 3.0: Price and Value Theory in the History of Economic Thought

This course examines major developments in microeconomic price and value theory from mid-eighteenth century classical economics to the neoclassical general equilibrium theory of the 1970s, including attention to methodological issues of evaluating and testing theories.

Economics 5990H 3.0: Macroeconomic and Monetary Analysis in the History of Economic Thought

This course examines the development of macroeconomic and monetary analysis from mid-eighteenth century statements of the quantity theory to the rational expectations theory of the 1970s.

Economics 5990K 3.0: Socioeconomics

This course examines the important, though still tentative, interaction between economics and our understanding of society. The approach to the concept of society is broad, and includes traditional sociological concerns as well as anthropological and legal issues. Thus, the course considers how economics handles various issues that are not necessarily viewed as being in the traditional realm of economics; and, how economics might be modified to enhance our understanding of society. Students are encouraged to try their hand at considering and applying the economic approach to problems which are of interest to them.

Economics 6010 3.0: Topics in Advanced Microeconomic Theory

This course is concerned principally with recent developments in the analysis of strategic behaviour, and particularly with their economic applications. Topics include noncooperative game theory, the economics of information, the existence and stability of competitive equilibria and the welfare properties of these equilibria. Also, the role of externalities is considered both in static and intertemporal situations.

Prerequisite: A graduate course in microeconomic theory or permission of the instructor.

Economics 6100 3.0: Topics in Microeconomic Theory

This course covers further topics in microeconomic theory including market failure, externalities, public goods, incentive compatibility, social choice and welfare measures, expected utility analysis, portfolio theory, general equilibrium analysis under uncertainty, imperfect competition, monopoly, Cournot duopoly, monopolistic competition, entry deterrence, product selection, oligopoly and game theory.

Prerequisite: Economics  5100 3.0 or permission of the instructor.


Economics 6110 3.0: Advanced Macroeconomic Theory

This course provides an overview of recent topics in macroeconomics, and introduces not only the recent important issues in macroeconomics but also the tools used in their discussion. Topics include the time inconsistency problem, neoclassical growth theory, endogenous growth theory, search theory, Real Business Cycle theory, asset pricing, and models with asymmetric information.

Prerequisite: Economics  5110 3.0 or permission of the instructor.

Economics 6220 3.0: Advanced Econometric Theory I

Designed for first-year graduate students with previous courses in statistics, econometrics, differential calculus and algebra, this course begins with the general linear model and finishes with systems of equation models. Emphasis is placed on estimation and testing of hypothesis. Economics 6220 3.0 in conjunction with its sequel Economics 6250 3.0 constitute our basic core requirement in Econometrics for our PhD program.
Students may not receive credit for both Economics 6220 3.0 and Economics 5025 3.0.

Prerequisite: Economics  5220 3.0 or equivalent.

Course outline - GS ECON 6220A F22

Economics 6250 3.0: Advanced Econometric Theory

This course extends the general linear model examined in Economics 6220 3.0 in several directions. Topics include simultaneous equations, method of moments estimators, time series models, nonlinear estimation, limited dependent variables and duration models.

Prerequisite: Economics  6220 3.0 or equivalent.

Economics 6430 3.0: Topics in Industrial Organization

Selected topics in modern industrial organization.

Prerequisite: Economics  5430 3.0 or equivalent.

Economics 6460 3.0: Topics in Natural Resource and Environmental Economics

Advanced topics in the theory of resource use including empirical research. Topics include stochastic environments, production processes, rent seeking.

Prerequisites: Economics 5100 3.0, Economics 6100 3.0 and Economics 5460 3.0.

Economics 6700 3.0: Development Planning

An introduction to problems of development planning alternative models with emphasis on strategic considerations rather than on techniques. Monetary and fiscal policy, foreign economic policy, in the context of development planning.

Prerequisite: Economics 5700 3.0 or permission of the instructor.

Economics 6810 3.0: Workshop: Political Economy

In light of diverse traditions in political economy, a critical study and discussion of recent works pertaining to philosophical foundations of economic planning, particularly as they relate to income distribution, substantive economic development, the ecology, alternative methods of economic integration and social organization, etc. The works considered will change from year to year.

Economics 6820 3.0: Workshop: Statistics and Econometrics

An advanced applied statistics and econometrics course in which both students and faculty members present and interpret empirical studies of importance for planning and policy from current articles in academic journals and technical reports.

Economics 6990 3.0: Reading or Research Course in a Selected Topic

Supervised reading or research course in topics not included or currently offered. Recent examples of reading or research courses include topics in rent-seeking, labour contracts and microfoundations of macroeconomics.

Economics 7000 6.0 Ph.D. Research Seminar

This course is designed for PhD students who are in their dissertation stage. This seminar course helps students develop their research-paper writing and presentation skills and provides an opportunity for students to present and discuss each other's research. All PhD students are required to attend this course from their third year of study and continue until the completion of their dissertation. Each student is required to give a presentation each year. This is a non-credit, pass/fail course required of all PhD students in their third year and above. This course will be offered in every fall and winter term.

Pre-requisite - 5100, 5110, 6100, 6110, 6220, 6250, 7100, 7110/ 7220

Economics 7100 3.0 Advanced Topics in Microeconomic Research

This course covers frontier research topics in microeconomics and helps second year PhD students develop the necessary skills to undertake their own research in the field. This course is intended for second year Ph.D. students who are interested in pursuing research in theoretical or applied microeconomics. Students are eligible to take this course if they have successfully completed the first year sequences of Ph.D. courses in macroeconomics (ECON 5110 and ECON 6110) and microeconomics (ECON 5100 and ECON 6100), and have passed their comprehensive examinations in both macroeconomics and microeconomics.

Pre-requisites: GS/ECON 5100, 5110, 6100, 6110, 6220 and 6250

Economics 7110 3.0 Advanced Topics in Macroeconomic Research

This course is targeted at second year Ph.D. students with potential interests in macroeconomic research. The course covers frontier research topics in the field of macroeconomics, and helps students develop the necessary skills to undertake their own research in the field. This course is targeted at second year Ph.D. students who have potential interest in undertaking macroeconomic research. Students are eligible to take this course if they have successfully completed the first year sequences of Ph.D. courses in microeconomics (ECON 5100 and ECON 6100) and macroeconomics (ECON 5110 and ECON 6110), and have passed their comprehensive exams in both microeconomics and macroeconomics.

Pre-requisites: GS/ECON 5100, 5110, 6100, 6110, 6220 and 6250

Economics 7220 3.0 Advanced Topics in Empirical Economic Research

This course helps develop the skills and competencies necessary to conduct empirical research. Students are eligible to take this course if they have successfully completed the first year sequences of Ph.D. courses in Econometrics (ECON 6220 and 6250).

Pre-requisites: GS/ECON 5100, 5110, 6100, 6110, 6220 and 6250