Andrew Ault
BSc, General (Biology), with First Class Standing, Lakehead University
BA, Political Science, with High Distinction, Carleton University
Cert., International Law and Politics, Queen's University
MA, Economics, Lakehead University
MBA, Lakehead University
MSc with Thesis, Lakehead University
PhD Candidate, Finance, Carleton University
Andrew Ault is a research economist, lecturer, and public sector executive. Currently, he is Director of Finance and Treasurer for the City of Elliot Lake while serving as a Board Trustee for St. Joseph's General Hospital, which includes a long-term care home and the Oaks Treatment Centre, and as Board Director for Bay Credit Union in Thunder Bay. He maintains a consulting practice, and co-owns two small businesses in northwestern Ontario.
Previously, Andrew served various roles in finance, health economics, and natural resource economics. He led the finance department for Maamwesying, the first Indigenous Ontario Health Team after serving as Lead of Performance and Funding Allocation for Ontario Health. He also served with the Ontario Ministry of Natural Resources in the Forest Economics division, with the Ontario Ministry of Northern Development and Mines, Northern Policy Institute, the Parliament of Canada, and in the private sector.
Andrew currently teaches in the Faculty of Business Administration at Lakehead University, and in the Department of Economics at Algoma University.
> Introduction to Finance, International Finance, Investments
> Microeconomics, Natural Resource Economics, Environmental Economics
> Strategic Management, Business Policy, Canadian Business in the Global Environment
> Management Accounting, Financial Accounting
Andrew's core research agenda lies in financial economics, including empirical corporate finance, market microstructure theory and econometrics, with foci on the evolution of market efficiency with institutional ownership, and development of stochastic valuation tools for project assessment in innovation-intensive industries.
His work is applied primarily within health, mining, and forest economics. Specifically, his research improves capital allocation through advancing cost-effectiveness evaluation of new biotechnologies and bioprocesses in the natural resource sector, and pharmacoeconomic evaluation of precision medicines and targeted therapies in the health sector. His work in financial policy strengthens understanding of the incentives that shape commercialization activity, the structure of informational rents, and rent-seeking behaviors within natural resource and health systems.
He actively supports student research, organizing an annual conference showcasing student research from his courses at Lakehead’s Research and Innovation Week.
When not teaching or working, Andrew enjoys Marathon Running, Cross-Country Skate Skiing, and Downhill Skiing as well as networking with students.