Courses - Faculty of Business And Economics
Economics
Stage I
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: BUSINESS 115, ECON 101, 111, 191
Restriction: ECON 101, 111, 152, 191
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: BUSINESS 115 or ECON 151
Restriction: ECON 101, 111, 191
Stage II
Microeconomics Analysis
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 152 or 180 points in Mathematics or Statistics with a GPA of 5 or higher and a B or higher in MATHS 130
Principles of Political Economy
Introduces themes of positive political economy and the normative foundations of policymaking. Analyses the role of institutions in influencing resource distribution, creating incentives, and consequently impacting economic outcomes, including the dynamics of inequality and economic growth.
Prerequisite: 15 points from BUSINESS 115, ECON 151, 152
Macroeconomics Analysis
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 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
Strategic Reasoning
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 BUSINESS 115, ENGSCI 111, MATHS 108, 130, PHIL 101
Introduction to Econometrics
Equips students with essential statistical skills and business analytics tools necessary for data analysis in economics, finance, marketing, and other related areas. Develops proficiency in applying statistical techniques to real-world business scenarios and decision-making challenges and using software for reproducible analyses.
Prerequisite: ECON 152, STATS 108
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 BUSINESS 115, ECON 151, 152, ENGSCI 111, MATHS 108, 130, PHIL 101, PSYCH 108, 109, STATS 101, 108
Stage III
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
Labour Economics
The application of economics to labour issues that confront policymakers around the world. Examines how labour markets function and focuses on the use of economic frameworks to evaluate the effects of various policies, including education and training, welfare and taxation, workplace health and safety, minimum wages, and immigration. Discusses effective strategies to mitigate workplace discrimination.
Prerequisite: ECON 201
Law, Economics and Institutions
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
Industrial and Digital Economics
Considers the interdependence of market structure, company behaviour, and market outcomes. Employs game theory concepts and tools to analyse imperfectly competitive markets, their impact on consumers and society at large, and implications for competition policy and regulation. A variety of market settings, including digital markets, are explored alongside real-world case studies.
Prerequisite: ECON 201
Evidence-based Policy Making
Focuses on the evaluation of policy effectiveness. Develops skills in applying econometric tools to real-world policy issues, critically assessing research quality in policy studies, and equipping students to contribute to evidence-based policymaking. Coverage includes instrumental variables, discrete choice, difference-in-differences estimation, regression discontinuity, and panel data models.
Prerequisite: MATHS 102 or 108, and 15 points from ECON 221, STATS 201, 207, 208, 210, 225
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 201 or 211, and 15 points from ENGGEN 150, ENGSCI 111, MATHS 108, 130
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
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
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
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
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
Energy and Environmental Economics
Explores the theory and empirical practice of economic analysis as it is used in evaluating energy and environmental problems. Topics include natural resource economics, electricity and oil markets, environmental policy; analysis of economic instruments, such as tradable property rights and pollution taxes; the allocation of non-renewable and renewable resources; and sustainable development and climate change.
Prerequisite: ECON 201
Postgraduate 700 Level Courses
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.
Information and Digital Economy
Develops insights into the digital economy by exploring topics spanning the differentiation of prices and products; search cost and price dispersion; network effects; economics of platforms; privacy; intellectual property; to antitrust regulations. Applies economic tools and principles such as game theory, industrial organisation, law and economics, competition policy and regulation, and information economics.
Macroeconomic Theory and Policy
Discusses advanced analytical tools and concepts used in modern macroeconomics and shows how to apply these tools in policy settings. The focus will be on dynamic macroeconomic models with micro-foundations and their applications to understanding macroeconomic policy issues, such as growth, fluctuations, debt-crises, ageing, unemployment, and global imbalances.
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.
Econometric Methods
An overview of the theory and practice of econometrics for postgraduate business students.
Restriction: ECON 701, 711, 721, 723
Applied Microeconometrics
Provides an understanding of fundamental econometric methods and how to apply them to real-world microeconomic data, evaluate policies, and analyse firm and individual behaviour.
Prerequisite: ECON 306 or 321
Restriction: ECON 721
Time Series and Panel Data Econometrics - Level 9
Advanced theory and practice of time series and panel data econometrics, including stationary and non-stationary time series processes, macro econometric models, and causal identification. Students apply the methods by independently authoring a project that empirically investigates an economic issue or policy question.
Prerequisite: ECON 722
International Economics
Advanced treatment of selected developments in the theories and empirics of international economics as well as contemporary issues relating to trade strategies, international capital flows, and structural adjustment with an emphasis on developing countries.
Restriction: ECON 741
Advanced International Finance
A study of open-economy macroeconomic topics (theoretic, empirical and policy oriented), including models of exchange rate behaviour.
Applied Research Consultancy Project - Level 9
An applied practical opportunity for students to work with a New Zealand or international business or organisation in a consulting capacity to apply their advanced disciplinary knowledge and to develop research-informed strategic recommendations for a client.
Political Economy
Explores the political economy of institutions and contributes to acquiring knowledge of the current state of the literature and a command of the tools in the field. Topics typically include distribution and efficiency, dynamics of political power, beliefs, norms and institutions, media, coordination and protests, conflict, bureaucracy, and corruption.
Economic Development and Wellbeing
Examines economy-wide issues in development, focusing on key factors and using real-world examples. Emphasis is placed on extracting policy insights from recent research and country experiences. Topics include geography, institutions, social welfare, and policy design for enhancing well-being in developing nations.
Restriction: ECON 771
Climate and Energy Economics
Examines issues related to the economics of climate change, energy transitions toward electrification, competing energy sources (fossil fuels and renewables), and regulation and market design issues for energy and carbon markets. Natural resource and electricity markets are explored in depth.
Restriction: ECON 783
Behavioural and Applied Economics
The application of economic principles and behavioural insights to address real-world decision-making challenges faced by individuals, organisations and society. Potential applications include contemporary issues in health, education, labour, urban or public economics. Evidence is drawn from a variety of sources, such as administrative or survey data, lab or field experiments to inform analyses or policy prescriptions.
Research Project - Level 9
Restriction: ECON 789
To complete this course students must enrol in ECON 788 A and B, or ECON 788
Dissertation - Level 9
To complete this course students must enrol in ECON 791 A and B, or ECON 791
Dissertation - Level 9
To complete this course students must enrol in ECON 792 A and B, or ECON 792