Economics, Ph.D.
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 doctoral students are found in the Doctor of Philosophy General Regulations section of the Guide.
Economics Ph.D. Admission Requirements
Normally, the completion of a Master’s degree or equivalent from a recognized university and a cumulative GPA of 3.0 or equivalent in the last two previous years of full time university study (60 credit hours) is the minimum requirement for admission to the Ph.D. program. And:
- Except as provided in 2) below, applicants for admission to the Ph.D. program must have completed the entrance requirements and the program requirements of an M.A. degree in Economics or in Agricultural Economics equivalent to that awarded by the University of Manitoba. A thesis-based Master’s is not required.
- In exceptional cases, applications to either stream may be considered from students who have completed an Honours degree in Economics equivalent to that awarded by the University of Manitoba. In such cases, the applicant will be required to fulfill, in addition to the requirements below, all coursework requirements for the non-thesis M.A. degree.
Application Information
Students should complete and submit their online application with supporting documentation by the date indicated on the Economics Ph.D. program of study page.
Degree Requirements
Common Program Requirements
PhD students must complete a minimum of 27 credit hours of 7000 level coursework beyond their MA program by the end of their second year in the program including ECON 7010; ECON 7650; and ECON 7722.
Additional Stream-Specific Program Requirements
Economics & Econometrics Stream
Students must complete ECON 7010, ECON 7650, ECON 7660, ECON 7722, and ECON 7732, as part of their core requirement in the first year. Students must also complete a minimum of 12 credit hours of elective Economics courses at the 7000 level by the end of their second year in the program, with at least one elective course taken in their first year of the program.
Research Paper
Students must complete a research paper by May 15th of their second year in the program.
Candidacy Examinations
Students must make their first attempt at the theory candidacy examinations in microeconomic theory and macroeconomic theory at the first opportunity following completion of the theory course requirements. Candidacy exams are written in May and late August / early September.
Thesis Proposal
A thesis proposal must be defended in an oral presentation to the thesis advisory committee, and approval for the proposal must be received by Dec. 15th of the student’s third year in the program.
Economics & Society Stream
In addition to the common core course requirements, students must also take:
| Course | Title | Hours |
|---|---|---|
| ECON 7540 | Advanced History of Economic Thought | 3 |
| or ECON 7060 | Advanced Heterodox Theory | |
| Select 6 credit hours from the following: | 6 | |
| Advanced Heterodox Theory | ||
| Advanced Development Economics | ||
| Topics in Development Economics | ||
| Topics in Heterodox Economics I | ||
| Topics in Heterodox Economics II | ||
| Advanced History of Economic Thought | ||
| Approaches, Methodologies and Techniques in Economic History | ||
| Structuralist Theories of Development | ||
| Select 9 credit hours of elective course work selected in consultation with the thesis advisor, from Economics or another cognate department, with a minimum of 3 credit hours at the 7000 level | 9 | |
| Total Hours | 18 | |
Note: Students without 4000-level econometrics can substitute ECON 4040 for ECON 7010.
Candidacy Examinations
Students will sit for a Candidacy Examination in a subject (or subjects) relevant to their general areas of research. Students must make their first attempt at the Candidacy Examination within the first 30 months of their Ph.D. program, and will normally be scheduled for late August.
Thesis Proposal
The thesis proposal must be defended in an oral presentation to the thesis advisory committee, and must be received within 12 months following the successful completion of the Candidacy Examination.
Expected Time to Graduate: 4 years
Progression Chart
Economics & Econometrics Stream
| Year 1 | Hours | |
|---|---|---|
| GRAD 7300 | Research Integrity Tutorial | 0 |
| GRAD 7500 | Academic Integrity Tutorial | 0 |
| ECON 7010 | Econometrics I | 3 |
| ECON 7650 | Advanced Macroeconomic Theory 1 | 3 |
| ECON 7722 | Advanced Microeconomic Theory I | 3 |
| ECON 7660 | Advanced Macroeconomic Theory 2 | 3 |
| ECON 7732 | Advanced Microeconomic Theory II | 3 |
| ECON 7XXX | One 3-credit hour Elective Course | 3 |
| Candidacy examinations in Microeconomic Theory and Macroeconomic Theory are written in May | ||
| Hours | 18 | |
| Year 2 | ||
| ECON 7XXX | Three 3-credit hour Elective Courses | 9 |
| A research paper must be completed by May 15th | ||
| Hours | 9 | |
| Year 3 | ||
| A thesis proposal must be defended and approved by Dec. 15th | ||
| Hours | 0 | |
| Year 4 | ||
| Students defend their thesis to complete the Ph.D. | ||
| Hours | 0 | |
| Total Hours | 27 | |
Economics & Society Stream
| Year 1 | Hours | |
|---|---|---|
| GRAD 7300 | Research Integrity Tutorial | 0 |
| GRAD 7500 | Academic Integrity Tutorial | 0 |
| ECON 7010 | Econometrics I 1 | 3 |
| ECON 7650 | Advanced Macroeconomic Theory 1 | 3 |
| ECON 7722 | Advanced Microeconomic Theory I | 3 |
| ECON 7540 or ECON 7060 |
Advanced History of Economic Thought or Advanced Heterodox Theory |
3 |
| ECON 7XXX | Two 3-credit hour Elective Courses (from list below) 1 | 6 |
| Hours | 18 | |
| Year 2 | ||
| ECON 7XXX | Three 3-credit hour Elective Courses 2 | 9 |
| Candidacy Examination in a subject (or subjects) relevant to the student’s general areas of research will usually be written late August | ||
| Hours | 9 | |
| Year 3 | ||
| A thesis proposal must be defended in an oral presentation to the thesis advisory committee and must be received within 12 months following the successful completion of the Candidacy Examination | ||
| Hours | 0 | |
| Year 4 | ||
| Students defend their thesis to complete the Ph.D. | ||
| Hours | 0 | |
| Total Hours | 27 | |
| 1 | Students without 4000-level Econometrics can substitute ECON 4040 for ECON 7010. |
| 2 | A minimum of 3 credit hours must be at the 7000 level. |
Elective Courses
| Course | Title | Hours |
|---|---|---|
| ECON 7060 | Advanced Heterodox Theory | 3 |
| ECON 7130 | Advanced Development Economics | 3 |
| ECON 7140 | Topics in Development Economics | 3 |
| ECON 7170 | Topics in Heterodox Economics I | 3 |
| ECON 7180 | Topics in Heterodox Economics II | 3 |
| ECON 7540 | Advanced History of Economic Thought | 3 |
| ECON 7610 | Approaches, Methodologies and Techniques in Economic History | 3 |
| ECON 7690 | Structuralist Theories of Development | 3 |
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