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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Are you ready to apply theory and academic content to real-world experiences? It's time to make your plan!

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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

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Dr. Krishna Kadiyala

Professor

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Ahmed Aziz

Lecturer

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Dr. Nusrate Aziz

Associate Professor

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Dr. Hari Luitel

Associate Professor

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Dr. Krishna Kadiyala

Professor

Sault Ste. Marie campus

krishna.kadiyala@algomau.ca
705-949-2301, ext. 4325
Office: NW 304A

Educational Background:

‌PhD, University of Western Ontario
MS, Purdue University
BSc, Andhra University

Research and Publications:

“Operational Ridge Regression Estimator Under the Prediction Goal”, Communications in Statistics, A8, 1979.

“Some Finite Sample Properties of Generalized Ridge Regression Estimators”, Canadian Journal of Statistics, Vol. 8, No. 1, 1980.

“Evaluation of the Mean Squared Error of Certain Generalized Ridge Estimators, using Confluent Hypergeometric Functions”, (with A. Ullah and H.D. Vinod), Sankhya, Series B, 1981.

“Bounds on the Biasing Parameter in Ridge Regression”, Communications in Statistics, A10, 1981.

“A Family of Improved Shrinkage Factors for the Ordinary Ridge Estimators”, (with A. Ullah and H.D. Vinod), Economics Studies Quarterly, 1981.

“Misspecification Under the Presence of Autocorrelated Disturbances”, Proceedings of the Twenty-Second Econometric Society Conference, Indian Statistical Institute, Bangalore, India, pp. 43.1-43.17, 1984.

“A Class of Almost Unbiased and Efficient Estimators of Regression Coefficients”, Economics Letters, 1984.

“Misspecification: Excluding and Including Variables Simultaneously”, Australian Economic Papers, 1985.

“Report of the City of Sault Ste. Marie Joint Manpower Assessment and Planning Committee” (with J.S. You and D.L. Leighton), City of Sault Ste. Marie, 1984.

“On Closer Trade Relations With the United States”, a brief submitted to the Select Committee on Economic Affairs, 1985.

“Mixed Regression Estimator Under Misspecification”, Economics Letters, 1986.

“Mean Squared Error Properties of Operational Weighted Average Estimators”, Journal of Quantitative Economics, 1986.

“Third World Military Expenditures and Socio-Economic Developments”, (with H. Gardezi), FORUM, Sozialwissenschaftliches Institut der Bundeswehr, Munchen,1987.

“A Comparison of Regional Differences between Canada and India”, Abstracts, Souvenir Edition, XXII International Conference on Canadian Studies, University of Madras, 2006.

“Recent Trends in the Agricultural Sector and their Contribution to Foreign Trade in India”, Proceedings of the International Conference on Agribusiness and Food Industry in Developing Countries: Opportunities and Challenges, Agriculture Management Centre, Indian Institute of Management, Lucknow, India, August 2007.

“Composition and Growth Pattern of Bilateral Trade Between India and Canada”, Proceedings of International Conference on India-Canada Trade and FDI Bilateral Flows: Performance, Prospects and Proactive Strategies, Baroda, India, January 2011.

Selected Conferences, Presentations and Invited Lectures:

University of Western Ontario (1983-84). Participated in various Economics departmental seminars
Delhi University, New Delhi, India (1984). Presented a paper on: “Misspecification Under the Presence of Autocorrelated Disturbances”
Indian Statistical Institute, Delhi, India (1984). Presented a paper on: “A Class of Almost Unbiased and Efficient Estimators of Regression Coefficients”.
Osmania University, Hyderabad, India (1990). Acted as an external examiner for a Ph.D. thesis defence on “India’s International Trade”.
Gave a seminar on: “Canadian Regional Disparities” at the Canadian Studies Programme at Osmania University.
University of British Columbia (1990-91). Participated in a number of Economics departmental seminars.
Indian Statistical Institute, Calcutta (1997). Attended International Conference in Statistics, Recent Advances in Statistics and Probability, Indian Statistical Institute, Calcutta, 2007.
Cochin University of Science and Technology, Cochin, India (1998). Presented a seminar on: “The effects of recent government cutbacks on education and social services in Canada”
Visited Center for Development Studies, Trivendrum, India (1998)
Osmania University, Hyderabad, India (2002). Gave a seminar on: “Social and Fiscal Conservatism in Canada”
Madurai Kamaraj University, India (2002). External Member of the Board of Examiners to adjudicate Ph.D thesis.
Refereed an article for Communications in Statistics, September 2004.
Manonmaniam Sundranar University, India (2005). External Member of the Board of Examiners in adjudicate Ph. D thesis.
Visited University of Madras, Department of Economics, Madras, India (2006).
Presented a paper on: “A Comparison of Regional Differences between Canada and India” at the XXII International Conference on Canadian Studies, January 2006, Madras, India.
Visited Osmania University, Department of Economics, Hyderabad, India (2006)
Gave a seminar on: “On World Trade Organization”, Department of Economics, Osmania University, India (2006).
Chairman, “Empirical Research in Educational Economics”, 81st Western Economic Association International Conference, San Diego, 2006.
Supervisor, Destiny Sault Ste Marie Progress Report, May 2007.
Presented a paper on: “Recent Trends in the Agricultural Sector and their Contribution to Foreign Trade in India”, International Conference on Agribusiness and Food Industry in Developing Countries: Opportunities and Challenges, Indian Institute of Management, Lucknow, India, August 10-12 2007.
Chairman, “Agriculture Trade”, International Conference on Agribusiness and Food Industry in Developing Countries: Opportunities and Challenges, Indian Institute of Management, Lucknow, India, August 2007.
Panel member (Speaker), “Understanding the Economic Crisis and Where do we go from here”, Algoma University, January 2009.
Attended the Canadian Economic Association meetings, University of Toronto, May 2009.
Member of the Board of Examiners to adjudicate Ph.D. thesis, University of Madras, 2010.
Chaired a Session at the 44th Annual Conference of The Canadian Economic Association, May 2010, University of Lavel, Quebec City.
Member of the Board of Examiners to adjudicate Ph.D thesis, Acharya Nagarjuna University, 2010.
Presented a paper on: “Composition and Growth Pattern of Bilateral Trade Between India and Canada in Recent Years”, International Conference on India-Canada Trade and FDI Bilateral Flows: Performance, Prospects and Proactive Strategies, Baroda, India, 2011.
Chairman, Technical Session I: Bilateral Trade and FDI: Performance, Prospects and Proactive Strategies-I, International Conference on India-Canada Trade and FDI Bilateral Flows: Performance, Prospects and Proactive Strategies, Baroda, India, 2011.
Gave a Seminar on: “India-Canada Trade”, Department of Economics, University of Madras, India, February 2011.
Gave a Seminar on: “Relative Trade Comparison/Performance of India and China Since India’s Independence”, Department of Economics, Andhra University, India, March 2011.
Chaired a session on “Development and Economic Systems” at the 87th Western Economic Association International Conference, July 2012.
Attended the Canadian Economic Association Meetings, June 2013, Montreal.

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

Area of Expertise:
International Economics and Finance, Migration Economics, Institutions and Economic Development

Teaching:
Economics Courses

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

Business Courses

ADMN 3116 Financial Management I
ADMN 3117 Financial Management II

Selected Publications

“Do Immigrants’ Funds Affect the Exchange Rate?”, The World Economy (Wiley), Forthcoming. (with Arusha Cooray and Wing Leong Teo).
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

“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).

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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