L(sin

2q/i/)

3//:.:

DEPRTMNT OF ECONOMICS AND COi 'IERCE

Department 1-lead:.

Eofessor:

sociate Professors:

?sistant Professor:

List ructor:

Parzival

Copes

J. M. Scammell

3, W. Matthews,

T. Strand

D. C. Mueller

M. A. Lebowitz

[IIJ

Additional appointments to be r.e before September

1966.

Programsof Study

The Department offers courses in economics (3c)

courses

in commerce (Corn) and courses that a-

, .

-a

classified under both

these

areas of

Study (Ec/Com). Students may elect to take a

major or honors in either subject

area

or jointly in both. In

the lower division (lOo

-ano. 20O-levI courses) a common basIc

program is prescribed for all studets in the Department. In

the upper division (3C0-ana.

O0_le1 courses) students may

choose courses freely from both th

eonomIcs and the

commerce

side of the curriculum, their major subject being determined by

the number of courses taken on one ;ide or the other.

All students

taking a malor or

honors in economics or

commerce must Comojete the basic Cou.sC work in statistics

(Ec/Corn

235-3

and

236- . 3).

In additici the Department offers

advanced

courses in

statistics id

other "uantitatjve

methods" (Ec/Com

337-5,

Ec 435 and Corn

439_ 5 )

on an optional

basis. Students wishing to take the latter courses must have

a preparation

in mathematics equivaJ.et to Mathematics 111-3,

112-3,

213-3

arid 231-3. In view of the increasing importance

that the practical applications of cuentitative me

hods have

gained in the fields of economics and commerce, students with

adeouate aptitude in mathematics are encouraged to take these

courses. For students who have had no university-level

mathematics alternative intermediate courses in quantitatIve

methods are available, viz.

•35-5

and Corn

L-36_5.

In conunct!on with a major In economics or comerce

students may find it useful to select a minor in mathematics,

geogra p hy,

political science, sociolo

y or history. A student

interested in industrial

relations or personnel management

may be advised to take a

minor in

psychology. Those who intend

to pursue graduate studies elsewhere, should consider including

a foreign language in their study program as proficiency in

such a language is required in most graduate schools.

-2-

L).1.

_4s .4_-._

p-mn

.-.- ------

----

ef lhpna

slz es

the

value of a broadly based education. For this reason it has

been structured as part of a liberal arts program leading to

a B.A. degree. A solid core of economics courses is included

in the curriculum to give the commerce graduate an adequate

appreciation of the position of the business firm in the

national and international economy. Basic instruction is

provided in all the major areas of business studies. The

Department encourages commerce students to undertake 'in-

service' training with a business firm for one semester each

year. To this end the Department has established contact '4th.

the local business community to arrange for appropriate

employment opportunities available in all semesters of the

ademic year. The intention is that commerce students on

graduation should be equipped with a measure of practical

business experience in addition to a well-rounded education.

The University's trimester system offers a special

opportunity to students who wish to follow a career in

accounting. By pursuing their university studies in the

sumrcier and fail semesters, they may be available for employment

with a firm of chartered accountants each year during the

spring semester. This is the period of peak activity in

accounting practice, when firms are seeking additional help.

By arrangement with the Chartered Accountants Institute of

British Columbia students will be able to deduct approved

em- loyment of this nature (except for an initial probationary

period of one semester) from the time required for articling

in the chartered accountants' professional qualification

program.

Requirements for Majors and Honors

All stiidents must meet the requirements for the B.A.

degree in either the general or honors program as described

-i-n--pp. yo of the calendar.

Lower division work (courses at

100-

and 200-level)

Students who wish to major in economics or commerce must

all complete the following

low

ion

cour

ses:

100-3,

200-3

and

205-3;

Coin 203-3; and Ec/Com

35-3

and 236-3. Two

ddi

e re

ona

nde

our

ses, Ec

150-3

and

152-3,

while not compulsory,

-3-

Honors students in economics and commerce must complete

all the courses prescribed for a major and must take Ec 150-3

and 152-3.

Following is a suggested sequence of lover division course

work. Variations in this pattern are perrnissable as long as

the general regulations of the B.A. program and individual course

Prerequisites are met.

(A) For students with re1arentry

Semester 2

[ Semester 3

Semester 1

Ec 152-3

Corn

203-3

205-3

Ec 2003

Ec/Com 235-3

Ec/Corn

236-3

In addition for 'quantitative methods' option

Math 1-12-3

Math

Math 231-3

Semester 3.

Ec 100-3

Ec 150-3

Math. 111-3

(B) For students with advanced credit, enterinRat

Semester 3 leV4Je.g. with Grade 13 in B.C.

high school system):

[ernester 3

Semester L

Semester

Bc 100-3

50-3

Bc 200-3

152-3

Ec/Com

236-3

205-3

BC/Corn 235-3

Corn

2G3-3

In addition for 'quantitative methods' option

Math 213-3

Math

231-3

U P -,

?er division work (courses at

300-

and 400_3.eve1)

,qe 00

The overall minimum rep12rements for the general and honors

B.A. degree are described i-pp--.

. The specific requirements

in economics and commerce are as follows:

Main Economics

At least

credits in economics, including

301-5

and

305-5.

Major in Com-

-r.e

At least

credits in commerce, including

Corn

313-3, 323-5, 343_5, 370-5

and

393-5

301-5

and

305-5

are required in addition.

Major in Economics and Commerce

At least

credits in economics, including

301-5

and

305-5,

and at least

credits

in commerce, including Corn

313-3,

323-5,

343-5,

370-5,

and

393-5.

Honors in Economics

At least

credits in economics, including

301-5

and

305-5.

The program must include

at least t and not more than four courses

designated

honors seminars in economics or

commerce; of these at least two must be in

economics.

Honors

i n Commerce

At least 40 credits in commerce, including

Corn

313-3, 323-5, 3•3-5, 370-5

and

393-5;

and

301-5

and

305-5.

The program must

include at least two and not more than four

courses designated as honors seminars in

commerce or economics; of these at least

one must be in commerce.

Honors in Economics and Commerce

At least 30 credits in economics, including

Ec 301-5

and

305-5,

and

credits in

commerce, including Corn

313-3, 323-5, 31-i.3-5,

370-5

and

393-5.

The program must include

at least two and not more than four courses

designated as honors seminars in economics

or commerce; of

these at

least one must be

in economics and one in commerce.

Decription of Courses

Most of the lower division courses will be offered each

semester. The upper division courses, generally, will be offered

less

frequently - depending on the program needs of students.

. Where an economics and a ccmriierc cou±-se listed below

carry the sane number, they are in fact given as one and the

same course in the instruction Pro

ram. Students may claim

credit for one or the other only.

Courses designated as honors seminars are normally offered

to honors students only. In exceptional cases other students

may be permitted by the Department to register in these courses.

Economics

051-0

Evolution and Revolution in the. Economic Develoornent ofNations

discussion, in historical context, of

current problems and

develooments in the economic affairs of

discussed, amongst others,

will

include

nations.

Su'ojets

the pressures of

population

of different

growth,

economic

the

systems,

consequences

the relations

automation,

of poor

the

lands

contest

and

rich

lands, and the implications of

economic growth.

-6-

ism

100-3 Introduction to Economics

The elementary theoretical principles of economics discussed

in relation to the present-day institutional framework.

Emphasis will be placed on the relevance of economic analysis

to the conduct of public and business affairs.

(2-1-0)

150-3 Introductory Economic History

- -

History of the economic development of civilisation from ancient

times until the industrial revolution. Emphasis will be placed

on the influence of geographical factors, discoveries and

inventions, religion, and social organiz'tion and customs.

(2-1-0)

152-3 Economic History of the Industrial :.:.ge

. 3

Analysis of the main historical features of economic development

since the industrial revolution.

(2-1-0)

200-3 Principles of Economics

The principal elements of theory concerning utility and value,

price and costs, factor analysis, productivity, labour organization,

competition and monopoly, and the theory of the finn.

(2-1-0)

PrereQujsjte:Ec 100-3.

205-3

Principles of

Economics (II)

-.---------,-----.-..------------------------.'-----------

The principal elements of theory concerning money and income,

distribution, social accounts, public finance, international

trade, comparative systems, and development and growth.

(2-1-0)

Pre re a.uisite: Ec 2003.

-7-.

---------.---------

235-3

Elementary Economic and Business Statistics (I)

C .

The sources and presentation of data, descriptive statistics.,

probability, Fortran programnii.ng and estimation.

(2-0-2)

:3 6

-3

Elementary Economic arid Business Statistics (ii)

Fortran Programming, tests of hypothesis, decision theory,

simple regression and correlation analysis, index numbers,

and classical time series analysis.

erequisite: Ec 235-3.

(2-0-2)

3015

Intermediate Micro Theory

A study of the main principles and techniques of economic analysis

in their a

plication to modern theories of price, production,

distribution, and the theory of:.the fins.

Prerequisite

205-3.

(3-2-0)

305-5

Money and Incone

An exarriinatioli of the concept and measurement of national income and

the factors which determi

.e its level. The relation of national

income to the price level and. to policies for the control of inflation

and the level of emDloyxnent. Monetary policy and the working of the

centralizd banking system. Special attention will be :aid to these

problems in their Canadian setting.

Prere.uisite:_-_.i.

(3-2-0)

337-5

Intermediate Eoonomjc and Business Statistics

Statistical inference, Bayesian statistics, and multiple regression

and correlation. Saspling theory - simple random, stratified and

cLuste'r sampling; bias and non-seq-

. lin

errors.

(3-0-2)

Prereq

uisitesEe236

end Math

213-3

and 23l-

•

-^2

350-5

Economic History

of North P[1erica

An examination of common and contrasting features of econom'ic'

development in Canada and the United States from settlement until

the twentieth century. Emphasis will be placed upon the role of

staple exports,the creation of social overhead capital, and the

development of policies and institutions conducive to economic

grow-ch.

(3-2-i.

Prereoui

site s:

Ecl52- and 200- 3

(these

maybetakenconcurrend.

355-5

Economics of Natural Resources

The characteristics of resource industries; analysis of efficient

management practice; public policy considerations in respect of

develo p

ment and conservation; benefit - cost analysis.

(3-2-0)

368-5

Transportation

The

function of transportation; demand, cost, and price determination;

geograhicai relationships;

ublic policy consi

derations; the role

of transportation in

economic development;

benefit - cost analysis.

(3..2o)

Prerecuisite: Ec 20-.

:3 80

-3 Introduction to Labor Relations

- 1

Basin, analysis of the labor market and industrial relations with

particular reference to the Canadian setting.

(2-1-a)

Prerequisite : Ec_20-3.

404-5 Develo p

ment of Economic Thought

A study of the evolution of the main conce

ts of economic theory.

Attention will be given to the relationship between doctrines and the

economic, political and

social environment

in which they developed.

(3-2-0)

Prerequisites : Ec

301-5

and

3Q5-5.

06-5

Economic Fluctuations

The processes of economic fluctuation. A study of some irripotant theories of

the business cycle. Fluctuations as an international problem; their

effect on industrial and primary producing countries. The relation

of the business cycle to the problem of growth and development.

Implications for public policy.

(3-2-0)

Prerejs ites: Ec0land 30

409_3

Honors Seminar in Economic Theory

Selected topics in economic theory.

(0-3-0)

Prerei

and

305-5.

4l4_3

Financial Institutions

An examination of the model of the centraliied banking system, its aims

and operation. A critical and comparative examination of some of the

main centralized banking systems of the world.

Prerequisite: Ec 305-5.

431-5

Mathematic1 Economics

The application of inout-output studies, linear programming and the

theory of games to economic analysis. Dynamic models, general equi-

librium models and the mathematics of marginal analysis.

(3-2-0)

Prere

uisites: Ec 01-5 an

+35-5

Quantitative Methods in Economics

Demand analysis. Production, cost and income analysis. Economic growth

and trade cycle analysis. General equilibrium and input-out

ut analysis.

(3-2-0)

Prerequisites: Ec

330

1-5 and

305-5.

•

v:..

-10-

ale

38_5

Econometrics

The general linear model and applications to demand, production, cost

•

and income analysis. Problems of autocorrelation, multicollinearity,

errors in the variables, and heteroscedasticity. The input-output

model and applications to demand, production and cost analysis.

•

Statistical models of economic growth and fluctuations.

(32-0)

•Prereui sites:

Ec236-3, 301-5

and

305-5;

and Math

213-3

and

231-3.

105

-.--.-----------

Internationa].

-----.--------.---------..-----

Economics

------..---.•--.----.--

The pure theory of international trade; the balance of payments and

the monetary aspects of international trade; commercial policy and

direct controls on international trade. Current international economic

problems.

(3-2-0)

Prere

q uisites: Pc

301-5

and

305-5.

193 Honors Seminar in Trade and Finance

Selected, topics in

the

fields of international trade and international

finance.

(0-3-0)

Prerequisite: Sc

o-5 (may be

taken concurrently).

455-5

Economic Develooment

Analysis of theories of economic development. Consideration will be

given to the require

m ent ' s of successful development, to .spects of

international co-o

eration, and to procedures of economic planning.

Problems of emerging" countries and models of various developing

economies will be studied.

(3-2-0)

Prerequisite: Ec

305-5.

59-3

Honors Seminar in Economic Hitory

Selected topics in economic history.

(0-3-0)

Prere q uisite: Sc

350-5.

II-

165_5

Regional Economics

I•

-------------

IIntroductory analysis of location and space economy.

Economic

.develo p

ment problems relited to the sub-national

status of

regions.

Strategy

of regional development measure

Prerequisite:

305-5.

81-5

Labor Economics

Analysis of the economics of the labor market.

Prereqtisites: Re

301-5, 305-5

and

380-3.

(3-2-0)

,36-5

Industrial Relations

A study of trade unionism, collective bargaining, industrial relation

systems and labor relations law.

Prerequisite:

Ec3603.

(3-2-0)

I139_3

Honors Seminar in Labor Economics

Selected, topics in labor economics.

(0-3-0)

Prerequisite; Ec

481-5

(may

be teen

_concurrently).

1905

Public Finance

The impact of alternative tax and expenditure policies upon production,

consumption, savings, investment, prices and work effort. Comparison of

ability-to-pay and benefit theories of taxation. Allocation of tax and,

expenditure duties in multi-level government systems.

Prereouisjte;

Ec301-5.

(3-2-0)

495_5

Comparative Economic Systems

Economic analysis of various methods of the allocation of resources

and distribution of income. Comparative study of capitalist,

communist, socialist and mixed forms of national economic organisation.

'(3-2-0)

Prerequisites: Re

` 01 -

and

305-5.

-L-

1993

Honors Seminar in Public Policy

Selected topics in the area of public policy.

Prerequisites: Ec 3

5-5

and

490-.5.

Commerce

2O3-3 Fundamentals ofBusiness

(0-3-a)

General theory and method in accounting, form and structure of

enterprises, methods of finance, and organization and management.

(2-1-0)

235-3 Elementary Business and Economic Statistics (I)

The sources and presentation of data, descriptive statistics,

probability, Fort-

- ;,

an programming, and estimation.

(2-0-2)

236-3

Elementary Business and Economic Statistics (Ii

Fortran programming, tests of hypothesis, decision theory, simple

regression and correlation analysis, index numbers, and classical time

series analysis.

Prequisite: Corn 235-3

(2-0-2)

313-3 Business Finance

Financial structure of business units, the raising of capital for

long term and short term needs, capital budgeting, capital reconstructions,

and rights of stockholders.

(2-i_a)

Prere q

uisite: Corn 203-3.

323-5 Accounting Practice

Purpose and logic of accounting. Techniques and their application to

various forms of activity. Accounting

or partnerships and corporations

(.3-2-0)

•

Prerecujsjte: Corn 203:3.

-13-

321_ 3

Cost Accounting (I)

L7.

Theory and method, efficiency standards and variances, avoidable and

general overheads, contributions, patterns of production, and integration

with financial accounts.

Prereauisite: Corn

203-3.

336-3

Data Processing in Business

Use of unit record equipment and electronic computers. Progranrning,

flow charting and program language.

(2-1-0)

Prerequisites: Corn

203-3

and 236-3.

337-5

Intermediate Business and Economic Statistics

Statistical inference, Bayesian statistics, and multiple regression and

correlation. Sampling theory - simple random, stratified and cluster

sanoling; bias and non-sampling errors.

(3-0-2)

Prerequisites: Corn

236-3,

and Math

213-3

and

231-3.

435

Marketing

Assessment of demand; consumer motivation studies; market institutions;

methods and mechanics of distribution in domestic, foreign and overseas

markets; sales organization; advertising; new product development, pricing

and promotion; marketing programs.

Prerequisite: Corn

203-3.

(3-2-0)

368-5

Transportation

The function of transportation; demand, cost, and price determination;

geograDhical relationships; public policy considerations; the role

of transportation in economic development; benefit-cost analysis.

(3-2-a)

Prere q

uisite: Bc

205-30

370-5

Business Management

Functions and skills of professional management; organization

rganizatio

in theory

and practice; control, communication, information systems, and machine

aids in the execution of decisions and control of operations; incentives

and safeguards; social responsibilities.

Prerequisite: Corn

203-3.

(3-2-0)

373-3

Production Management

Factory location and layout; product design; production methods;

materials handling; controlof output,.. quality, c

ost,.

inventories,,.::..,

and production flow.

Prerequisite: Corn

203-3.

(2-1-0)

380-3

Introduction to Labor Relations

Basic analysis of the labor market and industrial relations with

particular reference to the Canadian setting.

Prerequisite: Ec

205-3.

(2-1-0)

387-3

Personnel Management

Recruiting, training and organization of staff; job demarcation and

specification; remuneration policy; joint consultation.

(2-1-0)

Prerequisite: Corn

203-3.

393-5

Commercial Law

Common law, common equity, and statute law; contracts, agency, and

negotiable Instruments; partnership and corporation law; international

Commercial law.

Prerequisite: Cam

203-3.

(3-2-0)

.413-5

Financial Administration and Control

Business budgets for revenue, expense and capital; investment decisions;

internal and external finance; capital structure and gearing,, cash flow and

flow of funds; accounting ratios and the appraisal of financial status and

yield.

Prerequisites: Corn

313-3, 323-5

and

324_3.

(3-2-0)

- 15 -

'Sm

1?0/ 0

/& &

4:L4-3

Financial Institutions

An examination of the model of the centralized banking system, its aims

and operation. A critical and comparative examination of some of the

main centralized banking systems of the world.

Prerequisite: Ec

305-5.

(2-1-0)

423-5

Advanced Accounting Practice

Problems in partnership and public accounting; statutory requirements;

group accounts; taxation and accounts; effects of price level changes;

insolvency.

Prerequisite: Corn

323-5.

(3-2-0)

24-3

Cost Accounting

(ii)

Applied costing; forms and records for material, labor and expense;

accounting for defectives, by-products and joint products. Case studies.

(2-1-0)

Prerequisite: Corn

324-1

28 . 3

Introduction to Accounting Systems and Auditing

Internal routines and internal controls; auditing principles, programs,

records, and techniques; statutory requirements and case law; management

(internal) audit.

Prere

uisite: Corn

323-5.

(2-1-0)

29.3 Honors Seminar in Accounting

Selected problems in accounting.

(0-3-0)

Prerequisites: Corn

323-5, 32i-3

and

413_5.

-16-

L36_5

Quantitative Methods in Business

The analysis of administration, marketing, inventory and

production problems.

___

Prerequisites

Corn

203-3

and

236-3.

(3-0-2)

439.5

Operations Research

Inventory control, linear programming, queuing theory,

information

dministration

theory.

models.

Other

arketing, production,

and -•

•

Prer

equisites Corn

203-3

and

337-5.

(3-2-a)

443.-3

Market Research

Population studies, data collection and analysis, use of statistical

techniques, new product surveys, and marketing operations. Case

studies.

Prer

equisite:

Corn

313_5•

(2-1-0)

9-3

Honors

- -

Seminar

- -

in Trade and Finance

Selected topics in the fields of international trade and

international finance.

Prere

uisite:

Ec!JtQ-5

(may be taken concurrently).

(0-3-0)

14793

Honors Seminar in Management

Selected topics in management.

Prerequisites

Corn

370-5

and

373-3.

(0-3-0)

86-5

Industrial Relations

SA study of trade unionism, collective bargaining, industrial relation

systems and labor relations law.

(3-2-0)

Prere q

uisite: Corn

380-3.

488_3

Human Relations in Business

Control and co-operation responsibility and supervision, psychology of

the working group, monetary and other incentives, profit sharing and

cc-partnership, aptitude testing, job satisfaction, and paternalism and

individualism...

Prerequisites: Corn

03-3

and 380-3.

(2-1-0)

PC :1

15.12.65.