Finance & Economics

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Our Finance & Economics Program

By combining both the finance and economics programs, students earn a holistic degree, which emphasizes the financial analysis and management side of economics and business administration, and therefore equips students with advanced skills in financial analysis, management, and forecasting skills.

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Algoma U’s four-year Bachelor of Arts in Finance and Economics is a unique program, different from other university programs found across the province. Our faculty is committed to a hands-on learning experience where students are able to establish a personal relationship with their professors. This fosters a very intimate and interactive learning environment.

Our program concentrates on theory, applications, and explorations in current and policy-related issues at the regional, national, and international level. Students will study the roles of government, business, and financial institutions, as well as individuals as they interact to determine the distribution of a country’s total range of goods and services. Courses cover a wide array of topic areas, including environmental economic policies, microeconomics, urban economics, international trade, public finance, international finance, elementary statistical methods for economists, among others.

Upon graduation, students will have a solid foundational working knowledge of various economic and financial terms, concepts, and principles. Students will know how to solve complex problems and distinguish between correct and incorrect applications of economic concepts. They will be able to review, present, and interpret quantitative and qualitative information and will thoroughly understand the limits that exist within the realm of finance and economics. By graduation, they will also have perfected their communication skills and be able to conduct themselves in a professional manner in the work world.

Study in Brampton

Earn your degree at our location in downtown Brampton, with easy access to public transportation and all of the amenities the city has to offer. Our Brampton campus offers accelerated business degrees with flexible programming - study during the day, evening, or weekends to meet your needs.

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What You Can Expect

Hands-on learning, a close-knit campus community, and caring faculty.

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Cooperative Education

Take advantage of the University’s lucrative co-operative education program to make some extra money and build your resume. Coop options include the Ontario Lottery and Gaming Corporation (OLG), Brookfield Power, the Government of Canada, the City of Sault Ste. Marie, Logos Financial, Yes You Can Employment Services, BDO Canada, the Sault Ste. Marie Innovation Centre, the Municipal Property Assessment Corporation, and many more.

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Global Perspectives

With over 24 percent of our students coming from outside of Canada, our student body is reflective of today’s global marketplace. By having such a diverse classroom, students are exposed to new and different ideals and opinions in regards to finance. Thus, our classrooms reflect the real world.

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A bright career path

With a finance and economics degree, our graduates have become financial planners, economists, financial advisors, market researchers, financial managers,, loan officers, statisticians, budget analysts, investment analysts, bankers, and more.

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Flexible programming

Whether students want to study on a full-time or part-time basis, students can complete the requirements for their finance and economics degree day or night. Spring and summer term courses also provide added flexibility.

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Meet our Faculty

Our Finance & Economics faculty are experts in the field. Get to know them!

Cathy Denomme

Director of School of Business & Economics, Associate Professor

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Dr. Ahmed Aziz

Assistant Professor

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Dr. Nusrate Aziz

Associate Professor

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Dr. Hari Luitel

Associate Professor

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Dr. Nusrate Aziz

Associate Professor

Sault Ste. Marie campus

nusrate.aziz@algomau.ca
705-949-2301, ext. 4236
Office: SH 501

View Nusrate Aziz’s website

Credentials:

PhD (International Economics & Financial Economics), University of Birmingham
MSc (Development Economics), University of Birmingham
BSS (Honours) & MSS (Economics), University of Chittagong

Area of Expertise:
International Economics and Financial Economics, Migration Economics, Institutional Quality and Economic Development

Teaching:

ECON 2107 Intermediate Macroeconomics I
ECON 3107 Intermediate Macroeconomics II
ECON 3446 International Trade
ECON 3447 International Finance

ADMN 3116 Financial Management
ADMN 3117 Corporate Finance

Selected Publications

Nusrate Aziz, Murshed Chowdhury, and Arusha Cooray (2021), “Why do people of wealthy countries migrate?” European Journal of Political Economy (Elsevier) – forthcoming.
Nusrate Aziz, Belayet Hossain and Laura Lamb (2021), “Does Green Policy Pay Dividends?”, Environmental Economics and Policy Studies (Springer). https://link.springer.com/article/10.1007%2Fs10018-021-00317-7
Nusrate Aziz, Arusha Cooray and Wing Leong Teo (2021), “Do Immigrants’ Funds Affect the Exchange Rate?”, The World Economy (Wiley), Vol. 44 (2): 560-585. https://doi.org/10.1111/twec.13003
Armed Conflict, Military Expenditure and International Tourism”, Tourism Economics (SAGE) Vol. 26 (4): 555-577 (2020). (with Usman Khalid, and Luke Okafor). https://doi.org/10.1177/1354816619851404.
“Armed Conflict, Military Expenses and FDI Inflow to Developing Countries”, Defence and Peace Economics (Taylor & Francis), Vol. 30 (2): 238-251 (2019). (with U. Khalid). https://doi.org/10.1080/10242694.2017.1388066
“Does the Quality of Political Institutions Affect Intra-Industry Trade within Trade Blocs? The ASEAN Perspective”, Applied Economics (Taylor & Francis), Vol 50, No. 33, 3560 – 3574 (2018). (with B. Hossain and I. Mowlah). https://doi.org/10.1080/00036846.2018.1430336
“Exchange rate hysteresis in the UK imports from the South Asian Countries”, International Review of Economics and Finance (Elsevier), Vol. 58, No. Nov 2018, Page 159-178. (with AH Ahmad). https://doi.org/10.1016/j.iref.2018.03.007
“The Role of Income in Intergenerational Co-residence: Evidence from Developing Countries”, Australasian Journal on Ageing (Wiley), Vol. 37 (2), E55–E60 (2018). (with B. Hossain and M. Emran). https://onlinelibrary.wiley.com/doi/pdf/10.1111/ajag.12511
“Military Spending, Armed Conflict and Economic Growth in Developing Countries in the Post-Cold War Era”, Journal of Economic Studies (Emerald), 44 (1): 47-68 (2017). (with MN Asadullah). https://doi.org/10.1108/JES-01-2015-0021
“The Impact of Political Regime and Governance on ASEAN Economic Growth”, Journal of Southeast Asian Economies (Project MUSE), Vol. 32 (3): 375-389 (2015) (with Sheela D. Sundarasen). https://muse.jhu.edu/article/603884/pdf
“The first and second stage pass-through of exchange rates: A developing country perspective”, Review of Development Economics (Wiley-Blackwell), Vol. 18(3), 595–609 (2014) (with N. Horsewood and S. Sen). https://doi.org/10.1111/rode.12105
“Service Quality and Behavioural Intentions in Broadband Services Selection”, Marketing Intelligence and Planning (Emerald), Vol. 32 (4): 455-474 (2014) (with M.S. Rahman). http://www.emeraldinsight.com/doi/abs/10.1108/MIP-06-2013-0093
“Interest Rate Pass-Through in the UK: Has the Transmission Mechanism Changed During the Financial Crisis?” Economic Issues, Vol. 18 (1): 17-37 (2013) (with H. Ahmad and S. Rummun). http://www.economicissues.org.uk/Files/2013/113Ahmad.pdf
“Does a real devaluation improve the balance of trade? Empirics from Bangladesh economy”, Journal of Developing Areas, Vol. 46 (2): 19-41 (2012). https://muse.jhu.edu/article/470997
“Growth of Government Expenditure in Bangladesh: An Empirical Enquiry into the Validity of Wagner’s Law”, Global Economy Journal, Vol. 9 (2): Article 5 (2010) (with M. A. Kalam). https://doi.org/10.2202/1524-5861.1451

Recent Conferences/Research Papers

“Recent Vs Historical Migrants: A study on the Canadian Provincial Trade-Migration Nexus”. The 55th Annual Conference of the Canadian Economics Association (online) 3-5 June 2021. Presenter: Nusrate Aziz, Algoma University.
“Does Green Policy Pay Dividends?”, 29th Annual Conference of the Canadian Environmental and Resource Economics Association, Oct 4-6, 2019, Charlottetown, Prince Edward Island, Canada.
“Good Governance, Quality of Institutions and International Migration”, The 2019 Canadian Economics Association Conference, May 31 – June 2, 2019, Banff, Alberta, Canada.
“Labour Migration, Sectoral Shifts and Interprovincial Trade”, The 2018 Canadian Economics Association Conference, June 1-3, 2018, McGill University, Montréal, Québec, Canada.
“Labour Mobility and Interprovincial Trade in Canada”, GLO Discussion Paper, No. 341, Global Labor Organization (GLO), Essen (2019). http://hdl.handle.net/10419/195101.
“Armed Conflict, Military Expenditure and International Tourism”, The 2018 Canadian Economics Association Conference, June 1-3, 2018, McGill University, Montréal, Québec, Canada.
“Exchange rate hysteresis in UK imports from South Asian countries”, Centre for Research in Economic Development and International Trade, CREDIT 18/3, (2018) University of Nottingham, UK. https://www.nottingham.ac.uk/credit/news/papers/1803.aspx
“Institutions and Economic Growth: Does Income Level Matter?” MPRA Paper No. 83684 (2018).
“Armed Conflict, Military expenses and FDI inflow”, The 51st Annual Conference of Canadian Economic Association (CEA), Nova Scotia’s St Francis Xavier University (June 2-4, 2017).
“Do Immigrants’ Funds Affect the Exchange Rate?”. Research Paper 2017/13. Globalization and Economic Policy (GEP). University of Nottingham (October 2017). http://www.nottingham.ac.uk/gep/news-events/news/papers/1713.aspx. Centre for Applied Macroeconomic Analysis, Australian National University, https://crawford.anu.edu.au/sites/default/files/publication/cama_crawford_anu_edu_au/2017-10/64_2017_aziz_cooray_teo.pdf. Presented in the 50th Annual Conference of the CEA, University of Ottawa, Ontario (June 3-June 5, 2016).
“The Effect of Immigration on Bilateral Exchange Rates: Canadian Perspective”, 9th Globalization and Economic Policy (GEP) International Conference, (February17-18, 2016).
“Migrant Workers’ Remittance and Economic Growth: The Role of Financial Development”, MPRA Working paper no. 66992. https://mpra.ub.uni-muenchen.de/66992/1/MPRA_paper_66992.pdf. Presented in the 8th Globalization and Economic Policy (GEP) International Conference (11-12 February 2015).

Research in Progress

Labour Retention and Assimilation of Migrants in the Northern Ontario Labour Market
Northern Ontario Tourism Development & Recovery Strategy in the Face of the COVID-19 Pandemic
Immigration and sectoral shift in trade
Canadian provincial environment control policy and CO2 emission
Interest rate pass-through during the crises
Capital Control, globalization, and Investment
Risk and Returns of Cryptofinance

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“Through the Finance and Economics program at Algoma University, I was able to gain practical experience by working as a Research Assistant within the department. I was also granted the opportunity to attend the annual Canadian Economics Association conference at which I presented my own research, as well as had additional research presented, which was done in collaboration with professors from the department of Business and Economics.”

Leandra Papa

Finance and Economics, 2020