Economics, M.A.
Economics
Head: Umut Oguzoglu
Grad Chair: Julia Witt (Economics & Econometrics); Fletcher Baragar (Economics & Society)
Campus Address/General Office: 501 Fletcher Argue
Telephone: 204-474-6239
Email Address: econgrad@umanitoba.ca
Website: umanitoba.ca/arts/economics
Academic Staff: Please refer to the Economics website for Faculty information.
Economics Program Information
The Department of Economics is pleased to offer a Master of Arts and a Doctor of Philosophy program. We also offer Agricultural Economics at the Ph.D. level in conjunction with the Department of Agribusiness and Agricultural Economics as part of the Economics & Econometrics Stream (E&E) Ph.D. program.
The Department has two streams in the graduate program: Economics and Econometrics (E&E), which places greater emphasis on theory (micro and macro), mathematics and statistical methods, and Economics and Society (E&S), which places greater emphasis on how the distribution of wealth and power affects the socioeconomic and physical environment. The graduate program in the E&E stream requires students to take more core courses in theory, mathematics and statistics, while the E&S stream is more individually tailored to the student’s research. Applicants to the graduate program in Economics apply to one stream, and are not considered for admission to the other stream. Therefore, applicants are advised to carefully check admission and program requirements to decide which stream provides the best fit.
Admission Information
Admission to the Faculty of Graduate Studies
Application and Admission Procedures are found in the Academic Guide.
Admission requirements for Master’s students are found in the Master’s Degrees General Regulations section of the Guide.
Economics M.A. Admission Requirements
For consideration for admission to the M.A. program, students proceeding from the University of Manitoba’s Pre-M.A. program must have obtained a minimum GPA of 3.5 in at least 24 credit hours of coursework in economics.
Normally, successful applicants for admission to the M.A. program will have completed an Honours degree in economics equivalent to that awarded by the University of Manitoba.
Stream-Specific Admission Requirements
ECONOMICS & ECONOMETRICS STREAM ADMISSION REQUIREMENTS
Applicants should meet the following:
- A minimum degree GPA of 3.1 from an undergraduate degree that includes fifty-four (54) credit hours of completed economics courses (or, if the applicant has a double Honours degree, 42 credit hours), which shall include:
Coursework in Mathematical Economics equivalent to the University of Manitoba course ECON 3030, and coursework in Econometrics courses equivalent to ECON 3040 and ECON 4040; - A grade of B+ or better is normally required in each upper level undergraduate economic theory course completed; and
- Six (6) credit hours of mathematics equivalent to the University of Manitoba courses such as: MATH 1500 and MATH 1310.
ECONOMICS & SOCIETY STREAM ADMISSION REQUIREMENTS
Applicants should meet the following:
- A minimum degree GPA of 3.1 from a four-year undergraduate program; and
- Completed a minimum of 42 total credit hours in Economics courses.
Pre-Master's Option
This unit offers a Pre-Master’s program of study. The Pre-Master’s program of study is intended to bring a student’s background up to the equivalent of the required 4-year degree in the major department/unit, and to provide the student with any necessary prerequisites for courses to be taken in the Master’s program. Completing the Pre-Master’s program does not guarantee acceptance to the Master’s program.
Application Information
Students should complete and submit their online application with supporting documentation by the date indicated on the Economics M.A. program of study page.
Degree Requirements
All thesis programs require a minimum of 15 credits hours of coursework in Economics, plus a thesis. All course and research paper programs require a minimum of 27 credit hours of coursework in Economics, plus a research paper.
Expected Time to Graduate: 1 year
Expected Time to Graduate M.A. Thesis Stream: 2 years
Progression Chart
Economics & Econometrics Stream (Non-Thesis)
| Course | Title | Hours |
|---|---|---|
| GRAD 7300 | Research Integrity Tutorial | 0 |
| GRAD 7500 | Academic Integrity Tutorial | 0 |
| ECON 6040 | Survey of Mathematical Topics for Economists | 3 |
| ECON 7010 | Econometrics I | 3 |
| ECON 7650 | Advanced Macroeconomic Theory 1 | 3 |
| ECON 7722 | Advanced Microeconomic Theory I | 3 |
| ECON 7000 | M.A. Research Workshop | 3 |
| ECON 7XXX | Four 3-credit hour Elective Courses 1 | 12 |
| Total Hours | 27 | |
| 1 | Up to 6 credit hours of elective course work may be at the 4000 level, provided there is not overlap with 7000 level courses. |
Economics & Society Stream (Non Thesis)
| Course | Title | Hours |
|---|---|---|
| GRAD 7300 | Research Integrity Tutorial | 0 |
| GRAD 7500 | Academic Integrity Tutorial | 0 |
| ECON 6040 | Survey of Mathematical Topics for Economists | 3 |
| ECON 7010 | Econometrics I 1 | 3 |
| ECON 7650 | Advanced Macroeconomic Theory 1 | 3 |
| ECON 7722 | Advanced Microeconomic Theory I | 3 |
| ECON 7540 | Advanced History of Economic Thought | 3 |
| or ECON 7060 | Advanced Heterodox Theory | |
| ECON 7XXX | Four 3-credit hour Elective Courses 2 | 12 |
| Total Hours | 27 | |
| 1 | Students without 4000-level Econometrics can substitute ECON 4040 for ECON 7010. |
| 2 | Up to 6 credit hours of elective course work may be at the 4000 level, provided there is not overlap with 7000 level courses. |
Notes:
Students must complete a research paper approved by their supervisor. Students should begin to plan writing their papers at the start of the Winter term.
Economics & Econometrics Stream (M.A. Thesis)
| Year 1 | Hours | |
|---|---|---|
| GRAD 7300 | Research Integrity Tutorial | 0 |
| GRAD 7500 | Academic Integrity Tutorial | 0 |
| ECON 6040 | Survey of Mathematical Topics for Economists | 3 |
| ECON 7010 | Econometrics I | 3 |
| ECON 7650 | Advanced Macroeconomic Theory 1 | 3 |
| ECON 7722 | Advanced Microeconomic Theory I | 3 |
| ECON 7XXX | One 3-credit hour Elective Course | 3 |
| Select an additional 6 credit hours (at the 3000 level or higher) in a relevant field | 6 | |
| Hours | 21 | |
| Year 2 | ||
| GRAD 7000 | Master's Thesis | 0 |
| Hours | 0 | |
| Total Hours | 21 | |
Economics & Society Stream Progression Charts (M.A. Thesis)
| Year 1 | Hours | |
|---|---|---|
| GRAD 7300 | Research Integrity Tutorial | 0 |
| GRAD 7500 | Academic Integrity Tutorial | 0 |
| ECON 6040 | Survey of Mathematical Topics for Economists | 3 |
| ECON 7XXX | Four 3-credit hour Elective Courses 1 | 12 |
| Hours | 15 | |
| Year 2 | ||
| GRAD 7000 | Master's Thesis | 0 |
| Hours | 0 | |
| Total Hours | 15 | |
| 1 | A student may substitute 3 credit hours of 7000-level coursework from a department other than Economics. |
Registration Information
Students should familiarize themselves with the Faculty of Graduate Studies ‘GRAD’ courses applicable to their program. If you have questions about which GRAD course(s) to register in, please consult your home department/unit.
Prior to registering, all students must meet with a member of the Economics Department Graduate Studies Committee to determine their course load. The course load resulting from this meeting must be listed on the Departmental Course Approval Form, and the form must be signed by a Graduate Studies committee member. The signed form must be submitted to the Graduate Program Assistant, who will then complete the registration process.
All course additions and withdrawals (registration revisions) must be approved in the same manner.
Regulations
Students must meet the requirements as outlined in both Supplementary Regulation and BFAR documents as approved by Senate.
Supplementary Regulations
Individual units may require specific requirements above and beyond those of the Faculty of Graduate Studies, and students should consult unit supplementary regulations for these specific regulations.
Bona Fide Academic Requirements (BFAR)
Bona Fide Academic Requirements (BFAR) represent the core academic requirements a graduate student must acquire in order to gain, and demonstrate acquisition of, essential knowledge and skills.
All students must successfully complete:
- GRAD 7300 prior to applying to any ethics boards which are appropriate to the student’s research or within the student’s first year, whichever comes first; and
- GRAD 7500 within the first term of registration;
unless these courses have been completed previously, as per Mandatory Academic Integrity Course and Mandatory Research Integrity Online Course.
Students must also meet additional BFAR requirements that may be specified for their program.
General Regulations
All students must:
- maintain a minimum degree grade point average of 3.0 with no grade below C+,
- meet the minimum and not exceed the maximum course requirements, and
- meet the minimum and not exceed the maximum time requirements (in terms of time in program and lapse or expiration of credit of courses).
Courses
Economics
A review of mathematical concepts used in economics, particularly at the graduate level. Topics include linear economic systems and matrix algebra, differentiation and optimisation, integration, economic dynamics and optimisation through time, and difference and differential equations. This course cannot be counted toward the minimum degree requirements for M.A. and Ph.D. degrees. This course is graded pass/fail.
An examination of research methodology to assist students in understanding the process of research in Economics. Students will complete a research project under direct supervision. This is a required course for students in the M.A. by course work. This course is graded pass/fail.
PR/CR: A minimum grade of C is required unless otherwise indicated.
Prerequisite: permission of department head.
An advanced course in estimation and hypothesis testing in various regression models. Topics may include: asymptotic distribution theory; ordinary least squares estimation; maximum likelihood estimation; generalized least squares estimation; generalized method of moment estimation; and seemingly unrelated regressions estimation.
An advanced applied course in cross-section and panel data econometrics. Topics may include logit, probit, heckman selection, and poisson; instrumental variables, difference-in-differences, regression discontinuity; fixed and random effects; dynamic panel models; quantile regression, nonparametric estimation; boostrapping.
PR/CR: A minimum grade of C is required unless otherwise indicated.
Prerequisite: ECON 7010.
Theory and applications of time-series analysis. Topics may include stationary univariate process; maximum likelihood estimation; Markov-switching models; state-space models; unit root process; vector autoregressive models; spurious regression; cointegration; and vector error correction models. Prerequisite ECON 7010.
Advanced study in a selected topic in applied microeconomics. Topics covered in rotation include, but are not limited to labour economics, health economics, public finance, industrial organization, international trade, environmental economics, evaluation of public policy, production economics and applied game theory.
PR/CR: A minimum grade of C is required unless otherwise indicated.
Prerequisite: A grade of C+ or better in ECON 7722 or former ECON 7720.
Advanced study in a selected topic in applied microeconomics. Topics to be covered in rotation include, but are not limited to labour economics, health economics, public finance, industrial organization, international trade, environmental economics, evaluation of public policy, production economics and applied game theory.
PR/CR: A minimum grade of C is required unless otherwise indicated.
Prerequisite: ECON 7722 or former ECON 7720.
This course is a review and examination of heterodox economic theory. Core topics include the theory of capitalist production, effective demand and economic fluctuations, growth and accumulation, crisis theory, and the state and economic policy.
Introduction to development economics at the graduate level. A core objective is to provide breath in terms of the coverage of salient topics in economic development and rigor in terms of the level of analysis. The course presumes a substantive background in the basic tools of economic analysis. This is a required course for doctoral students who intend to make development economics one of their field specializations.
A generic course title intended to accommodate various topics in development economics. The specific topic will be chosen by the instructor.
This course will provide students with an advanced and critical understanding of the foundations and assumptions of modern program evaluation using cost-benefit, cost-effectiveness, public decision/choice theory and economic analysis. Case examples are drawn from government and non-government programs.
PR/CR: A minimum grade of C is required unless otherwise indicated.
Prerequisite: written consent of instructor.
Selected study of advanced work in a selected field of heterodox economics.
Selected study of advanced work in a selected field of heterodox economics.
The emphasis will be on market structures and strategic interaction among firms. Topics such as oligopoly pricing, price discrimination, strategic entry deterrence, product differentiation, advertisement, research and development, auction design, regulation, and anti-competitive behavior will be covered. Students may not hold credit for both ECON 7202 and the former ECON 7200.
Mutually Exclusive: ECON 7200
Intensive study of advanced work in a selected field of economics. The course content may vary. Students can earn multiple credits for this course only when the topic subtitle is different.
Economic theory of the development and management of natural resources. Application of capital theory, investment theory, the theory of externalities and decision-making theory to resource utilization and management. A strong background in microeconomics is required. Also offered as ABIZ 7430 by the Department of Agribusiness and Agricultural Economics.
Equiv To: ABIZ 7430
Mainstream and other theories of how money matters to macroeconomics, theory and practice of policy rules for both monetary and other stabilization policy tools.
Detailed study of a selected topic, or a selection of related topics, in the history of economic thought. Topic(s) vary from year to year, and are normally related to the research interests of the instructor(s) and/or students.
A review of methodologies, approaches, techniques, and contemporary controversies in economic history.
Theories of trade flow; trade and income distribution; economic growth and changes in trade flows; instruments of trade intervention; international labour and capital movements; and economic integration.
Analysis of the theory of international money and finance. Assessment of existing international institutions dealing with money and finance. Theory, rationale and evaluation of structural adjustment policies.
A review of contemporary macroeconomic theories and their applications; analysis of static equilibrium and disequilibrium models; exploration of such models’ implications for cyclical behaviour and for policymaking.
Analysis of cyclical models and of equilibrium growth models, and a review of contemporary theories of stabilization policy.
PR/CR: A minimum grade of C is required unless otherwise indicated.
Prerequisite: ECON 7650.
Not currently offered.
Study of structuralist classical Marxist and Neo-Marxist theories of development and underdevelopment. Appraisal of the development strategies which follow from the various theories.
This course will cover topics in theories of consumer demand, production and cost, distribution, market equilibrium, market organization, general equilibrium and welfare. Students may not hold credit for both ECON 7722 and the former ECON 7720.
Equiv To: ECON 7720
This course will cover topics in game theory. Static and dynamic games with complete or incomplete information will be studied. Topics such as market failure arising from asymmetric information, firm behavior in oligopolistic markets, auctions, signaling, free riding, externalities, and public goods will be discussed. Students may not hold credit for both ECON 7732 and the former ECON 7730.
PR/CR: A minimum grade of C is required unless otherwise indicated.
Prerequisite: ECON 7722.
Equiv To: ECON 7730
A review of the theoretical and empirical foundations of modern labour economics.
Development of static microeconomic theories of the firm, functional forms, aggregation issues, productivity analysis, risk and uncertainty and in introduction to dynamics. The following are emphasized: a rigorous treatment of the models using duality; a critical understanding of the limitations and possibilities for generalizing the models; and relevance of the models for empirical research, especially in agriculture. Also offered as ABIZ 7940 by the Department of Agribusiness and Agricultural Economics. May not be held with ABIZ 7940 or ABIZ 7130.
Equiv To: ABIZ 7940
Critical evaluation of economic theory as applied to agricultural demand. Topics include demand systems; equilibrium; product transformation over time, place and form; and price analysis. Also offered as ABIZ 7950 in the Department of Agribusiness and Agricultural Economics. Students may not hold credit for ECON 7950 and any of: ABIZ 7950 or the former ECON 7900 or the former ABIZ 7100.
Equiv To: ABIZ 7100, ABIZ 7950, ECON 7900