Introduction to Model Building in Economics and Commerce

Curriculum Guideline

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Course
ECON 4412
Discontinued
No
Course Code
ECON 4412
Descriptive
Introduction to Model Building in Economics and Commerce
Department
Economics
Faculty
Commerce & Business Administration
Credits
3.00
Start Date
End Term
Not Specified
PLAR
No
Semester Length
15 Weeks X 4 Hours per Week = 60 Hours
Max Class Size
35
Contact Hours
Lecture: 3 Hours Seminar: 1 Hour Total: 4 Hours
Method(s) Of Instruction
Lecture
Seminar
Learning Activities

Lectures and a weekly seminar, which will be devoted to problems.

Course Description
This course will involve the student in the task of forming explicit quantitative models as they are used in economics and commerce. Quantification and types and sources of data available to economics and commerce students are considered. Emphasis is on the development of the skills needed in empirical model building.
Course Content
  1. Properties of models.
  2. Nature of modeling processes.
  3. Deductive logic and syllogisms.
  4. Probability.
  5. Source of data.
  6. Data quality.
  7. Decision trees and utility.
  8. Indifference curve models.
  9. Linear programming models.
  10. Exchange models.
  11. Learning models.
  12. Diffusion models.
Learning Outcomes

At the end of the course, the student will be able to:

  1. demonstrate the ability to think analytically about human behaviour;
  2. develop models relevant to economic analysis;
  3. evaluate a model’s implications and quantitatively confirm or refute the model’s consequences.
Means of Assessment
Final examination 30% - 40%
Mid-term examination 30% - 70%
Assignments (3 or more)           0% - 30%
Participation   0% - 15%
Total         100%

THERE WILL BE A MINIMUM OF THREE (3) EVALUATIONS.

Students may conduct research as part of their coursework in this class. Instructors for the course are responsible for ensuring that student research projects comply with College policies on ethical conduct for research involving humans, which can require obtaining Informed Consent from participants and getting the approval of the Douglas College Research Ethics Board prior to conducting the research.

Textbook Materials

Textbooks and Materials to be Purchased by Students

Love, Charles A., and James G. March, An Introduction to Models in the Social Sciences, Latest Edition.  Harper and Row, New York.

Prerequisites

(MATH 12 or MATH 102) and ECON 1150 and ECON 1250

Equivalencies

Courses listed here are equivalent to this course and cannot be taken for further credit:

  • No equivalency courses