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Introduction to Model Building in Economics and Commerce

Course Code: ECON 4412
Faculty: Commerce & Business Administration
Department: Economics
Credits: 3.0
Semester: 15 Weeks X 4 Hours per Week = 60 Hours
Learning Format: Lecture, Seminar
Typically Offered: TBD. Contact Department Chair for more info.
course overview

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.

Methods of Instruction

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

Means of Assessment

Final examination 30% - 40%
Mid-term examination 30% - 70%
Assignments (3 or more)           0% - 30%
Participation   0% - 15%
Total         100%


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.

course prerequisites

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

curriculum guidelines

Course Guidelines for previous years are viewable by selecting the version desired. If you took this course and do not see a listing for the starting semester/year of the course, consider the previous version as the applicable version.

course schedule and availability
course transferability

Below shows how this course and its credits transfer within the BC transfer system. 

A course is considered university-transferable (UT) if it transfers to at least one of the five research universities in British Columbia: University of British Columbia; University of British Columbia-Okanagan; Simon Fraser University; University of Victoria; and the University of Northern British Columbia.

For more information on transfer visit the BC Transfer Guide and BCCAT websites.


If your course prerequisites indicate that you need an assessment, please see our Assessment page for more information.