Courses - Faculty of Business And Economics


Economics

Stage I

ECON 151
15 Points

ECON 151G
15 Points

Understanding the Global Economy

Economics affects our daily lives and the global environment in many ways. Through the media we are constantly made aware of price increases, interest rate changes, exchange rate movements and balance of payments problems, growth and recessions, standard of living comparisons, regional trading agreements. What does it all mean and how does it all work?

Restriction: ECON 101, 111, 152, 191

ECON 152
15 Points

Principles of Economics

Analysis of issues that affect our daily lives, including pricing decisions by firms and their impact on our cost of living; game theory and strategic decision-making; tackling problems of pollution and global warming; and how governments use monetary and fiscal policies to stimulate economic growth and address unemployment and inequality. Prerequisite: ECON 151 or 16 credits in NCEA Level 3 Economics with a Merit average including standard 91399 (Demonstrate understanding of the efficiency of market equilibrium), or a scholarship pass in Economics, or B grade in CIE Economics or 4 out of 7 in Economics (HL) in IB

Restriction: ECON 101, 111, 191

Stage II

ECON 200
15 Points

Special Topic

Prerequisite: ECON 111 or 152

ECON 201
15 Points

Microeconomics

Study of the allocation of scarce resources among competing end uses. Intermediate-level analysis of the economic behaviour of individual units, in particular consumers and firms. Although the focus is on perfectly competitive markets, attention is also given to other types of markets. Analysis also includes concepts of expected utility and uncertainty, and welfare economics.

Prerequisite: ECON 101 or 152 or 180 points in Mathematics or Statistics with a GPA of 5 or higher and a B or higher in MATHS 130, 150 or 153

ECON 202
15 Points

Managerial Economics

Applies economic principles to achieve better management and strategic decisions in real-world business situations. Covers costs and investment, transaction costs and vertical integration, behavioural economics, incentives and agency problems, bargaining and non-linear pricing, product bundling and product differentiation, entry deterrence and regulation of business. Uses theory, case studies and worked problems to develop and reinforce understanding.

Prerequisite: 15 points from ECON 101, 152, 191, or Department approval

ECON 211
15 Points

Macroeconomics

Provides an introduction to the dynamic microfoundations of macroeconomics, and demonstrates how we can utilise these foundations (i) to understand the trends and fluctuations of macroeconomic aggregates like national output, unemployment, inflation and interest rates, and (ii) to predict the outcome of alternative government policies related to current economic problems of New Zealand and the rest of the world.

Prerequisite: ECON 111 or 152 or 180 points in a BSc major in Mathematics or Statistics with a GPA of 5 or higher and a B or higher in MATHS 130, 150 or 153

ECON 212
15 Points

Game Theory

An introduction to the fundamental concepts of non-cooperative and cooperative game theory: the concept of strategy; two person constant sum non-cooperative games and the minmax value; n-person non-cooperative games and Nash equilibrium; examples and applications in auctions, bargaining and other economic models, political science and other fields; the idea of backward induction and sub-game perfection; introduction to games in coalitional form; the core and the Shapley value.

Prerequisite: 15 points from ECON 101, 151, 152, 191, MATHS 108, 130, 150, 153, PHIL 101

ECON 221
15 Points

Introduction to Econometrics

An introduction to model building and empirical research methods in economics. Emphasises the use and interpretation of single equation regression techniques in formulating and testing microeconomic and macroeconomic hypotheses. Cross-section and time series modelling, as well as qualitative choice models will be covered. There will be examples of the uses of econometrics in a variety of areas through statistical analysis, problem solving and econometric estimation using a statistical computer package.

Prerequisite: 15 points from ECON 152, MATHS 108, 130, 150, 153, STATS 101, 102, 108, 125, 191

ECON 232
15 Points

Economics of Global Development

The development of the international economy and changing economic relationships that have taken place since the late nineteenth century. The causes and consequences of growing interdependency among nations are examined. Changing patterns of trade and migration of capital and labour are analysed, as are cyclical and secular trends in output, employment and investment. The focus is on the development of institutions as well as the economic and social conditions that induce and validate change.

Prerequisite: ECON 111 and 101 or 191, or ECON 152

ECON 241
15 Points

International Economic Policy

An introduction to contemporary issues in international trade and finance, including tariff wars, optimal currency areas, financial crises, debt default and the role of institutions like the IMF. The course provides a conceptual framework to understand how and why nations trade, the forces underpinning financial globalisation, and the political economy of international trade and monetary relations.

Prerequisite: ECON 111 and 101 or 191, or ECON 152

ECON 271
15 Points

Behavioural Economics

Scientists and philosophers have long pondered whether human decisions are primarily deliberative or more prone to emotions. This course brings together findings from economics, psychology and neuroscience to discuss decision making at the level of individuals, within small groups and in more anonymous and impersonal market settings with an emphasis on the role of social norms and cognitive biases.

Prerequisite: 15 points from ECON 151, 152, MATHS 108, 130, 150, 153, PHIL 101, PSYCH 108, 109, STATS 108

Stage III

ECON 301
15 Points

Advanced Microeconomics

Advanced treatment of aspects of consumer theory, producer theory, and game theory. Applications of this basic theory to the analysis of some topics in uncertainty, contracts, auctions, oligopoly, and information economics.

Prerequisite: ECON 201 and 15 points from ENGGEN 150, ENGSCI 111, MATHS 108, 130, 150, 153

ECON 302
15 Points

Economics of Labour Markets

The application of economics to issues that confront policy makers all over the world. Covers the workings of labour markets and teaches how to use economic frameworks to judge the appropriateness of education, training, employment, taxation, immigration and other labour market policies.

Prerequisite: ECON 201

ECON 303
15 Points

Law and Economics

Economic analysis of law and organisation, and the application of economics to property rights, patents and natural resource management. Includes: contracts, transaction cost analysis, classical contracting, long-run contracts, enforcement, role of market forces, risk aversion, remedies for breach, economic theory for torts, negligence rules, strict liability, multiple torts, product liability. Special topics may include: crime, insider trading, and business law.

Prerequisite: 15 points from ECON 201, 212, 232

ECON 304
15 Points

Firms and Markets

An introduction to Industrial Organisation, the analysis of markets with imperfect competition. Industrial Organisation is concerned with the interdependence of market structure, firm behaviour and market outcome. Basic concepts of game theory will be systematically introduced and applied to study strategic firm behaviour in a variety of general and more industry-specific market settings. In each case, we will analyse the implications of the market behaviour for consumers and society and explore the potential role for public policy with instruments like regulation, competition policy and patent policy.

Prerequisite: ECON 201 and 15 points from ENGGEN 150, ENGSCI 111, MATHS 108, 130, 150, 153

ECON 311
15 Points

Advanced Macroeconomics

Designed to teach students modern macroeconomic analysis and focuses on the standard dynamic general equilibrium model, which is central to current macroeconomic research. Students are given a careful introduction to the overlapping generations version of this model and shown how this model can be adapted in different ways to address a wide variety of economic issues and policy questions.

Prerequisite: ECON 211 and 15 points from ENGGEN 150, ENGSCI 111, MATHS 108, 130, 150, 153

ECON 321
15 Points

Advanced Econometrics

Development of the linear regression model, its basis, problems, applications and extensions: demand systems, time-series analysis including unit roots and co-integration, simulation and resampling methods including an exposure to practical computing classes.

Prerequisite: 15 points from ECON 221, STATS 201, 207, 208, 210, 225 and 15 points from ENGGEN 150, ENGSCI 111, MATHS 108, 130, 150, 153

ECON 341
15 Points

International Trade

The main theories of international trade in goods and services, and of international movements of capital and labour. Partial equilibrium and general equilibrium analysis of the major instruments of trade policy, their economic effects, and the issues created by their use in practice. The economics of regional trading arrangements, such as free trade areas, customs unions and common markets.

Prerequisite: 15 points from ECON 201, 211, 232, 241

ECON 343
15 Points

East Asian Growth and Trade

A study of the economic factors underlying the dynamic trade and growth performance of the major economies of contemporary East Asia, and of the impact of their development on New Zealand's international trading environment. Study of individual East Asian economies is strongly emphasised.

Prerequisite: 15 points from ECON 201, 211, 232, 241

ECON 351
15 Points

Financial Economics

A study of the modern literature on corporate finance, investments and derivative securities. An analysis of consumption and investment decisions in the presence of time and risk, asset pricing models and market efficiency. The term structure of interest rates and various issues in debt and equity financing. The use of derivative securities, e.g., forwards and/or options to manage exchange rate risk.

Prerequisite: ECON 201 and 15 points from ENGGEN 150, ENGSCI 111, MATHS 108, 130, 150, 153

ECON 352
15 Points

International Finance

A study of the modern literature on exchange rate markets, exchange rate determination and the implications of exchange rate movements for various economic issues. Students will gain an understanding of why exchange rates change, of financial market arrangements, and of the reasons for, and implications of, recent events in international financial markets.

Prerequisite: 15 points from ECON 201, 211, 232, 241

ECON 361
15 Points

Public Economics

A study of the role of the state in a modern mixed economy; its roles, measurement and accountability. Topics include: welfare theory, theory of public goods, cost-benefit analysis, budgetary issues, taxation theory and practice, insurance markets, and social insurance.

Prerequisite: ECON 201

ECON 372
15 Points

Energy and Environmental Economics

An overview of the theory and empirical practice of economic analysis as it is used in evaluating energy and environmental problems. Topics covered include natural resource economics, as well as electricity and oil markets. Other topics include environmental policy (pollution and economic efficiency); analysis of economic instruments, such as tradable property rights and pollution taxes; the allocation of non-renewable and renewable resources; and contemporary issues of growth, sustainable development and climate change.

Prerequisite: ECON 201

ECON 374
15 Points

Special Topic

ECON 381
15 Points

Foundations of Economic Analysis

A grounding in the quantitative methods of economic analysis with application to commonly used formal models in microeconomics, macroeconomics and econometrics. The emphasis will be on the unifying structure of the theory with a systematic treatment of the mathematical techniques involved. Preparation for continuing study in economic theory and econometrics.

Prerequisite: ECON 201

Postgraduate 700 Level Courses

ECON 700
15 Points

Special Topic

ECON 701
15 Points

Microeconomic Theory

Advanced treatment of traditional topics from "core" microeconomics, including consumer theory and duality, expected utility theory, general equilibrium, game theory and the economics of information.

ECON 702
15 Points

Industrial Organisation

Concerned with interdependence of firm behaviour, market structures and implications for consumers and society. Concepts from game theory are introduced and applied to study strategic firm behaviour in a variety of general and more specific market settings; Coverage includes the potential role for public policy with instruments like competition policy, patent policy and the regulation of public utilities such as telecommunication, electricity, water and gas.

ECON 711
15 Points

Macroeconomic Theory and Policy

A core course in macroeconomic theory which addresses fundamental problems including economic growth, consumption and saving decisions, investment, unemployment, and fiscal policies in the context of mainstream models of the economy.

ECON 712
15 Points

Topics in Money, Banking and Finance

An advanced treatment of macroeconomics focusing on contemporary issues that have been brought into sharp relief since the global financial crisis. Topics include models of financial crises, the role of financial markets and liquidity, sovereign debt, the relationship between financial intermediation and the macroeconomy, and the (unorthodox) way in which central bank policy is now conducted.

ECON 721
15 Points

Econometrics 1

Core econometrics including theory and applications. The development of the classical linear regression model and extensions to the most general case. Applications to types of linear models involving cross-section and time-series data, and simultaneous equation models. The method of maximum likelihood, other extrema estimators and associated methods of testing.

ECON 723
15 Points

Econometrics 2

An overview of time series econometrics, designed to introduce a range of material in stationary and nonstationary time series including: modern model determination methods, unit root and co-integration theory, non-linear time series analysis and continuous time models. Students will be introduced to practical time series forecasting methods.

ECON 741
15 Points

Topics in International Trade

Advanced treatment of selected developments in international trade theory including the link between trade and development and contemporary issues relating to trade strategies and structural adjustment policies with an emphasis on developing countries.

ECON 742
15 Points

Trade Policy

Economic analysis of current trade policy issues, with an emphasis on the theoretical, empirical and policy dimensions of international trade negotiations in the WTO, and the spread of preferential trading arrangements such as free trade areas.

ECON 751
15 Points

Advanced International Finance

A study of open-economy macroeconomic topics (theoretic, empirical and policy oriented), including models of exchange rate behaviour.

ECON 761
15 Points

Public Economics and Policy

Fundamental theorems of public economics, market failure, public choice theory, and distribution; the role of the economist in the making of public policy in a modern mixed economy, ideologies and critiques of the market model, the economics of the welfare state, welfare and tax reform in New Zealand, and applied poverty issues.

ECON 771
15 Points

Economics of Development

Contemporary issues in development economics. Topics include: the way economists' approaches to leading development issues have evolved to the present; and leading development issues, including sources of economic growth, the role of population, human capital and innovation, labour and migration, international trade and foreign aid, and strategies for sustainable economic development. There is emphasis on the 'Newly Industrializing Countries' and other Third World developing countries.

ECON 773
15 Points

The History of Economic Thought

Covers a selection of topics in the history of economic ideas, including classical economics, post-classical microeconomics and macroeconomics including Keynesian, Austrian, institutional economics and behavioural economics. Topics in twentieth century economics and twentieth century debates on international monetary reform will be given emphasis.

ECON 781
15 Points

Experimental Economics

Controlled decision-making experiments have become an integral part of economics, more so with the advent of behavioural economics, which incorporates key insights from other social sciences to add realism to the Homo Economics model of human behaviour. This course will cover a selection of topics in experimental and behavioural economics with applications to commercial decision-making and public policy.

ECON 783
15 Points

Energy Economics

Discusses issues related to the economics of climate change including peak oil as well as regulation and market design issues for energy and carbon markets. Natural resource economics and electricity markets are covered in depth.

ECON 784
15 Points

Special Topic

ECON 788
30 Points

ECON 788A
15 Points

ECON 788B
15 Points

Research Essay

Restriction: ECON 789

To complete this course students must enrol in ECON 788 A and B, or ECON 788

ECON 791
60 Points

ECON 791A
30 Points

ECON 791B
30 Points

Dissertation

To complete this course students must enrol in ECON 791 A and B, or ECON 791

ECON 792A
22.5 Points

ECON 792B
22.5 Points

Dissertation

To complete this course students must enrol in ECON 792 A and B

ECON 794A
45 Points

ECON 794B
45 Points

Thesis

To complete this course students must enrol in ECON 794 A and B

ECON 796A
60 Points

ECON 796B
60 Points

Thesis

To complete this course students must enrol in ECON 796 A and B

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