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Program Requirements
The B.A. Joint Honours in Economics and Finance is offered jointly by the Economics Department and the Desautels Faculty of Management. Students in this program should see an Economics adviser and a Management adviser. For the economics part, they should consult: . For the current list of advisers in Economics and their advising times, see the website of the Department of Economics. For the Management component of this Joint Honours program, students should see the Honours program adviser in the Desautels Faculty of Management.
All Joint Honours students should consult the Economics Honours and Joint Honours programs at .
The B.A. Joint Honours in Economics and Finance requires the completion of 30 specified credits of Honours Economics courses listed in the Economics Honours Program and 30 specified credits for Finance. This program is designed to take advantage of both À¦°óSMÉçÇø's Finance and Economics course offerings to produce a student who is well trained in these two complementary areas. To enter this Joint Honours program, students must have completed two terms of Calculus.
Continuation from one year to the next in the Economics part of this Joint Honours program requires a minimum grade of B- in ECON 250D1/D2, and a minimum B- average in the required and complementary Honours Economics courses.
For the Economics component, a student must also obtain a 3.00 GPA in the required courses, a 3.00 average in the required and complementary credits in Economics, and a CGPA of 3.00. For a First Class Honours degree, the minimum requirements are a 3.50 program GPA in the required courses, a 3.50 average in the required and complementary credits in Economics, and a CGPA of 3.50. In cases where a student takes a Supplemental Exam in a course, both the initial and the Supplemental Exam grades will be counted in the calculation of the GPA and CGPA averages.
For the Management part of this program, students also have to meet the requirements of the Faculty of Management for Honours and First Class Honours.
To earn the Honours in Economics and Finance, the Faculty of Management requires that students must achieve a grade of B- or better in all courses in the Finance component of this program.
Program Prerequisites (0-10 credits)
For entering this program:
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MATH 133 Linear Algebra and Geometry (3 credits) *
Overview
Mathematics & Statistics (Sci) : Systems of linear equations, matrices, inverses, determinants; geometric vectors in three dimensions, dot product, cross product, lines and planes; introduction to vector spaces, linear dependence and independence, bases; quadratic loci in two and three dimensions.
Terms: Fall 2018, Winter 2019, Summer 2019
Instructors: Fortier, Jerome; Shen, Liangming; Pequignot, Yann Batiste; Osajda, Damian (Fall) Fortier, Jerome (Winter) Patrias, Rebecca (Summer)
3 hours lecture, 1 hour tutorial
Prerequisite: a course in functions
Restriction A: Not open to students who have taken MATH 221 or CEGEP objective 00UQ or equivalent.
Restriction B: Not open to students who have taken or are taking MATH 123, MATH 130 or MATH 131, except by permission of the Department of Mathematics and Statistics.
Restriction C: Not open to students who are taking or have taken MATH 134.
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MATH 140 Calculus 1 (3 credits) **
Overview
Mathematics & Statistics (Sci) : Review of functions and graphs. Limits, continuity, derivative. Differentiation of elementary functions. Antidifferentiation. Applications.
Terms: Fall 2018, Winter 2019, Summer 2019
Instructors: Trudeau, Sidney; Fortier, Jerome; Patrias, Rebecca (Fall) Garver, Alexander (Winter) Zenz, Peter (Summer)
3 hours lecture, 1 hour tutorial
Prerequisite: High School Calculus
Restriction: Not open to students who have taken MATH 120, MATH 139 or CEGEP objective 00UN or equivalent
Restriction: Not open to students who have taken or are taking MATH 122 or MATH 130 or MATH 131, except by permission of the Department of Mathematics and Statistics
Each Tutorial section is enrolment limited
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MATH 141 Calculus 2 (4 credits) **
Overview
Mathematics & Statistics (Sci) : The definite integral. Techniques of integration. Applications. Introduction to sequences and series.
Terms: Fall 2018, Winter 2019, Summer 2019
Instructors: Perret-Gentil-dit-Maillard, Corentin; Gaster, Jonah (Fall) Trudeau, Sidney; Fortier, Jerome; Fox, Thomas F (Winter) Nica, Bogdan; Xu, Peter (Summer)
Restriction: Not open to students who have taken MATH 121 or CEGEP objective 00UP or equivalent
Restriction Note B: Not open to students who have taken or are taking MATH 122 or MATH 130 or MATH 131, except by permission of the Department of Mathematics and Statistics.
Each Tutorial section is enrolment limited
* Or equivalent (to be taken prior to U2)
** Or equivalent
Economics - Required Courses (27 credits)
Please refer to the Department's document "Rules on Stats Courses for Economics Students" available on the following website: . Students who have taken equivalent statistics courses may be waived the ECON 257D1/ECON 257D2 requirement. These students will normally be required to take ECON 469 in addition to ECON 468.
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ECON 250D1 Introduction to Economic Theory: Honours (3 credits)
Overview
Economics (Arts) : An intermediate level microeconomics course. Includes theory of exchange, theory of consumer behaviour, theory of production and cost curves, theory of the firm, theory of distribution; general equilibrium and welfare economics. The assumptions underlying the traditional neo-classical approach to economic theory will be carefully specified.
Terms: Fall 2018
Instructors: Long, Ngo Van (Fall)
Students must register for both ECON 250D1 and ECON 250D2.
No credit will be given for this course unless both ECON 250D1 and ECON 250D2 are successfully completed in consecutive terms
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ECON 250D2 Introduction to Economic Theory: Honours (3 credits)
Overview
Economics (Arts) : See ECON 250D1 for course description.
Terms: Winter 2019
Instructors: Xue, Licun (Winter)
Prerequisite: ECON 250D1
No credit will be given for this course unless both ECON 250D1 and ECON 250D2 are successfully completed in consecutive terms
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ECON 257D1 Economic Statistics - Honours (3 credits)
Overview
Economics (Arts) : Stochastic phenomena; probability and frequency distributions, introduction to probability theory. Statistical inference about proportions, means and variances; analysis of variance; nonparametric statistics; index numbers and time series; economic forecasting; regression and correlation analysis; introduction to general linear models, its uses and limitations; uses and misuses of statistics.
Terms: Fall 2018, Winter 2019
Instructors: Galbraith, John W (Fall)
Restriction: Not open to students who have taken 154-357 or are taking ECON 217 or ECON 227.
Students must register for both ECON 257D1 and ECON 257D2.
No credit will be given for this course unless both ECON 257D1 and ECON 257D2 are successfully completed in consecutive terms
You may not be able to receive credit for this course and other statistic courses. Be sure to check the Course Overlap section under Faculty Degree Requirements in the Arts or Science section of the Calendar.
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ECON 257D2 Economic Statistics - Honours (3 credits)
Overview
Economics (Arts) : See ECON 257D1 for course description.
Terms: Winter 2019
Instructors: Chaudhuri, Saraswata (Winter)
Prerequisite: ECON 257D1
No credit will be given for this course unless both ECON 257D1 and ECON 257D2 are successfully completed in consecutive terms
You may not be able to receive credit for this course and other statistic courses. Be sure to check the Course Overlap section under Faculty Degree Requirements in the Arts or Science section of the Calendar.
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ECON 352D1 Macroeconomics - Honours (3 credits)
Overview
Economics (Arts) : Basic macroeconomic theory, emphasizing the Classical and Keynesian ideas for the short-run determination of output, employment, interest rates and prices in the economy. Elements of international economics, money and banking and growth theory. The structure of the Canadian economy.
Terms: Fall 2018, Winter 2019
Instructors: Alvarez-Cuadrado, Francisco (Fall)
Prerequisite: ECON 250D1/ECON 250D2
Corequisite: ECON 257D1
Students must register for both ECON 352D1 and ECON 352D2
No credit will be given for this course unless both ECON 352D1 and ECON 352D2 are successfully completed in consecutive terms
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ECON 352D2 Macroeconomics - Honours (3 credits)
Overview
Economics (Arts) : See ECON 352D1 for course description.
Terms: Winter 2019
Instructors: Ruge-Murcia, Francisco (Winter)
Prerequisite: ECON 352D1.
Corequisite: ECON 357D2.
No credit will be given for this course unless both ECON 352D1 and ECON 352D2 are successfully completed in consecutive terms
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ECON 450 Advanced Economic Theory 1 - Honours (3 credits)
Overview
Economics (Arts) : Selected topics in economic theory from recent periodical and monograph literature.
Terms: Winter 2019
Instructors: Castro, Rui (Winter)
Prerequisites: ECON 250D1/ECON 250D2 and ECON 352D1/ECON 352D2
Restriction(s): Not open to students who have taken ECON 450D1 and ECON 450D2.
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ECON 452 Advanced Economic Theory 2 - Honours (3 credits)
Overview
Economics (Arts) : Selected topics in economic theory from recent periodical and monograph literature.
Terms: Fall 2018
Instructors: Poschke, Markus (Fall)
Prerequisites: ECON 250D1/ECON 250D2 and ECON 352D1/ECON 352D2
Restriction(s): Not open to students who have taken ECON 450D1 and ECON 450D2.
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ECON 468 Econometrics 1 - Honours (3 credits)
Overview
Economics (Arts) : The statistical basis of econometric modelling and treatment of the linear regression model; simple time series models; procedures for inference in linear cases; an introduction to methods for dealing with endogeneity and non-constant variance.
Terms: Fall 2018
Instructors: Davidson, Russell (Fall)
Prerequisite(s): ECON 257D1/D2 or permission of the instructor.
Restriction(s): Not open to students who have taken or are taking ECON 467D1/D2
Notes:
1. Three of the 6 credits for ECON 250 are counted in the Management Core, where it replaces MGCR 293.
2. Three of the 6 credits for ECON 257 are counted in the Core, where it replaces MGCR 271.
3. Three of the 6 credits for ECON 352 are counted in the Core, where it replaces ECON 295.
Economics - Complementary Courses (3 credits)
3 credits selected from the following Economics courses:
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ECON 460 History of Thought 1 - Honours (3 credits)
Overview
Economics (Arts) : The evolution of economic thought prior to the close of the 19th century, as reflected in the writings of prominent economists from the time of Adam Smith to the emergence of marginalism and neoclassical economics.
Terms: Fall 2018
Instructors: Green, Christopher (Fall)
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ECON 461 History of Thought 2 - Honours (3 credits)
Overview
Economics (Arts) : The evolution of economic thought in the 20th century, as reflected in the writings of prominent economists on equilibrium, dynamics, games, expectations, econometrics, industrial structure, economic policy and other primary areas of interest.
Terms: This course is not scheduled for the 2018-2019 academic year.
Instructors: There are no professors associated with this course for the 2018-2019 academic year.
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ECON 469 Econometrics 2 - Honours (3 credits)
Overview
Economics (Arts) : Treatment of asymptotic theory and classical inferential procedures, an introduction to the bootstrap, maximum likelihood, non-linear models, mis-specification testing, non-stationarity and limited dependent variable models.
Terms: Winter 2019
Instructors: Goncalves, Silvia (Winter)
Prerequisite: ECON 468
Restriction(s): Not open to students who have taken or are taking ECON 467D1/D2
Finance - Required Courses (18 credits)
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FINE 342 Corporate Finance (3 credits)
Overview
Finance : In-depth study of corporate finance, risk, diversification, portfolio analysis, and capital market theory.
Terms: Fall 2018, Winter 2019, Summer 2019
Instructors: di Pietro, Vadim; Madan, Sujata (Fall) Bouvard, Matthieu; Madan, Sujata; Caron, Yves (Winter) di Pietro, Vadim (Summer)
Prerequisite: MGCR 341
**Due to the intensive nature of this course, the standard add/drop and withdrawal deadlines do not apply. Add/drop is the second lecture day and withdrawal is the fourth lecture day.
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FINE 441 Investment Management (3 credits)
Overview
Finance : Application of investment principles and security analysis to the selection and comparison of equity and fixed income securities in the current economic and financial environment. Also covered are: determinants of stock prices, growth models and portfolio diversification.
Terms: Fall 2018, Winter 2019, Summer 2019
Instructors: Hammami, Larbi; Chaudhury, Mohammed M (Fall) Chaudhury, Mohammed M (Winter) Hammami, Larbi (Summer)
Prerequisite: MGCR 341
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FINE 443 Applied Corporate Finance (3 credits)
Overview
Finance : Concepts and techniques are applied to problems faced by managers in Corporate Finance, such as working capital management, capital budgeting, capital structure, dividend policy, cost of capital, and mergers and acquisition. Application of theory and techniques through case studies.
Terms: Fall 2018, Winter 2019, Summer 2019
Instructors: Hammami, Larbi (Fall) Hammami, Larbi; Kondo, Jiro (Winter) Hammami, Larbi (Summer)
Prerequisite: FINE 342
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FINE 547 Advanced Finance Seminar (3 credits)
Overview
Finance : Selected topics will be discussed by Faculty members, invited guest speakers, and the students. Each student is required to select a topic for study and prepare a written report for presentation.
Terms: Fall 2018
Instructors: Errunza, Vihang R (Fall)
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MGCR 211 Introduction to Financial Accounting (3 credits)
Overview
Management Core : The role of financial accounting in the reporting of the financial performance of a business. The principles, components and uses of financial accounting and reporting from a user's perspective, including the recording of accounting transactions and events, the examination of the elements of financial statements, the preparation of financial statements and the analysis of financial results.
Terms: Fall 2018, Winter 2019, Summer 2019
Instructors: Oh, Seunghwan; Tan, Hongping; Levy, Philippe; Cecere, Ralph; Parent, Kevin Paul (Fall) Lee, Dongyoung; Parent, Kevin Paul (Winter) Parent, Kevin Paul; Liu, Ming (Summer)
Continuing Studies: requirement for CMA, CGA, the EA of AACI, and the Institute of Internal Auditors
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MGCR 341 Introduction to Finance (3 credits)
Overview
Management Core : An introduction to the principles, issues, and institutions of Finance. Topics include valuation, risk, capital investment, financial structure, cost of capital, working capital management, financial markets, and securities.
Terms: Fall 2018, Winter 2019, Summer 2019
Instructors: De Motta, Adolfo; Truong, Minh Quy (Fall) di Pietro, Vadim; Truong, Minh Quy (Winter) di Pietro, Vadim (Summer)
Corequisite: MGCR 271 or equivalent
Continuing Studies: requirement for CMA, CGA, the EA of AACI, and the Institute of Internal Auditors
Finance - Complementary Courses (12 credits)
12 credits of Finance courses selected from:
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FINE 434 Topics in Finance 1 (3 credits)
Overview
Finance : Topics will be selected from current issues in the Finance Area.
Terms: Fall 2018, Winter 2019, Summer 2019
Instructors: Gerov, Matey (Fall) Saleh, Fahad; Gerov, Matey (Winter) Kondo, Jiro (Summer)
Prerequisite: MGCR 341
- FINE 435 Advanced Topics in Finance (3 credits)
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FINE 444 Principles and Strategies of Securities Trading (3 credits)
Overview
Finance : Half theory and half practical exercises using Rotman Interactive Trader software in the trading lab. Theory: principles of trading in different asset classes. Software simulated cases: the actual market environment is simulated where class participants trade in real time. As the market is running, students, given previously prepared strategies, start affecting market prices and see their profit and losses, given the strategies they implement.
Terms: Winter 2019
Instructors: Goyenko, Ruslan (Winter)
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FINE 448 Financial Derivatives (3 credits)
Overview
Finance : The course will concentrate on both the analytical and practical aspects of investments in options and futures. The first part of the course concentrates on option and futures valuation, considering both discrete and continuous time models. The second part of the course concentrates on the practical aspects of options and futures trading.
Terms: Fall 2018, Winter 2019, Summer 2019
Instructors: Augustin, Patrick; Andrei, Daniel (Fall) Chaudhury, Mohammed M (Winter) Shahrad, Ali (Summer)
Prerequisite: MGSC 372 or equivalent.
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FINE 449 Market Risk Models (3 credits)
Overview
Finance : Dynamic market risk models including GARCH volatility models, dynamic conditional correlation models, non-normal return distributions, option pricing allowing for skewness and kurtosis, and option risk management using delta, delta-gamma and full-valuation.
Terms: Winter 2019
Instructors: Goyenko, Ruslan (Winter)
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FINE 451 Fixed Income Analysis (3 credits)
Overview
Finance : Fixed income financial instruments and their uses for both financial engineering and risk management (at the trading desk and aggregate firm level). This will involve coverage of fixed income mathematics, risk management concepts, term structure modeling, derivatives valuation and credit risk analysis.
Terms: Fall 2018, Winter 2019
Instructors: Ericsson, Jan Edvard (Fall) Roussellet, Guillaume (Winter)
Prerequisite: FINE 441
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FINE 482 International Finance 1 (3 credits)
Overview
Finance : The international financial environment as it affects the multinational manager. Balance of payments concepts, adjustment process of the external imbalances and the international monetary system. In depth study of the institutional and theoretical aspects of foreign exchange markets; international capital markets, including Eurobonds and eurocredit markets.
Terms: Fall 2018, Winter 2019
Instructors: Sarkissian, Sergei; di Pietro, Vadim (Fall) Carrieri, Francesca; di Pietro, Vadim (Winter)
Prerequisite: MGCR 341
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FINE 492 International Corporate Finance (3 credits)
Overview
Finance : Focus on the financial and operational management of multinational enterprises including (but not limited to) financing and capital budgeting decisions, corporate governance and its implications on valuation and control, and recent developments in international capital markets.
Terms: Winter 2019
Instructors: Schumacher, David (Winter)
Prerequisite: FINE 342
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FINE 541D1 Applied Investments (1.5 credits)
Overview
Finance : Students are exposed to practical aspects of managing investment portfolios. A principal activity of students is participation in the management of a substantial investment fund.
Terms: This course is not scheduled for the 2018-2019 academic year.
Instructors: There are no professors associated with this course for the 2018-2019 academic year.
Prerequisite: MGCR 341
Students must register for both FINE 541D1 and FINE 541D2.
No credit will be given for this course unless both FINE 541D1 and FINE 541D2 are successfully completed in consecutive terms
FINE 541D1 and FINE 541D2 together are equivalent to FINE 541
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FINE 541D2 Applied Investments (1.5 credits)
Overview
Finance : See FINE 541D1 for course description.
Terms: This course is not scheduled for the 2018-2019 academic year.
Instructors: There are no professors associated with this course for the 2018-2019 academic year.
Prerequisite: FINE 541D1.
No credit will be given for this course unless both FINE 541D1 and FINE 541D2 are successfully completed in consecutive terms
FINE 541D1 and FINE 541D2 together are equivalent to FINE 541