ECO351H5S: Political Economy
Prerequisites: 4.0 credits including ECO101H5
Recommended: POL244H5 or ECO220Y5 or ECO227Y5 or 1.0 credit from (STA256H5 or STA258H5 or STA260H5)]
Course Description: This course examines how institutions shape individual preferences and beliefs, and how those in turn drive political and economic behavior and broader development outcomes. Students will critically analyze the interplay between governments, non-state actors, and civil society, asking how institutional arrangements constrain and enable the choices of citizens and elite actors. Topics are organized around themes: institutions and democratic transitions; information, media, and political accountability; corruption and political agency; culture and development; and models of voting behavior. The course also connects these themes to current debates in political economy, including the political economy of AI and its implications for the distribution of power, labor markets, and democratic life. The course also introduces students to empirical methods for studying these concepts, with an emphasis on evaluating evidence and applying theoretical frameworks to real-world cases.
ECO352H5S: Fiscal Frontiers: Debt, Demographic Change and the Digital Revolution
Prerequisites: ( ECO200Y5 or ECO204Y5 or ECO206Y5) and ( ECO202Y5 or ECO208Y5 or ECO209Y5) and ( ECO220Y5 or ECO227Y5 or (1.0 credit from STA256H5 or STA258H5 or STA260H5))
Course Description: This course examines the macroeconomic foundations of public finance. We explore how governments should design tax systems to raise revenue efficiently and fairly, and why inefficient taxes create distortions and deadweight losses. The course then examines the causes of today’s unprecedented public debt levels and what they mean for investment, inflation and intergenerational equity. We address the fiscal challenges posed by demographic change, particularly declining fertility and rising longevity, and discuss how shrinking workforces strain pension systems and social spending. Another section explains what happens when borrowing costs stay low relative to economic growth, exploring how such conditions can support debt sustainability and what happens if productivity growth slows. We conclude by studying the digital revolution and the growing importance of intangible assets, including digital services taxes, AI‑driven productivity and the way digitalization disrupts traditional tax bases and creates new opportunities for public revenue.
ECO353H5S: Climate Economics
Prerequisites: ( ECO200Y5 or ECO204Y5 or ECO206Y5) and ( ECO220Y5 or ECO227Y5 or (1.0 credit from STA256H5 or STA258H5 or STA260H5))
Course Description: This course explores the economics of the climate, combining economic analysis with key insights from climate science. We begin by examining evidence of rapid changes to the world's climate, followed by a review of the science needed to understand climate-related economic issues. Building on these foundations, students will then explore influential research in the rapidly growing field of climate economics before studying both the theory and practice of climate policy. Topics include the setting of emissions targets, carbon taxes, carbon offsets, and other policy approaches, as well as the challenges and opportunities associated with decarbonizing transportation, energy, and other sectors of the economy. Throughout the course, students will develop skills needed to apply economic reasoning to address climate challenges, critically evaluate economic and scientific research, and assess the strengths and limitations of alternative policy responses.