Overview
Economics is a social science dealing with choice among competing alternatives. To major in Economics, students must master skills of abstraction, deductive reasoning, and critical thinking, and understand the historical, cultural, and social context of economic institutions, policies, and events. A Major in Economics provides a way of looking at the world and understanding important aspects of human behaviour, and improves reasoning, problem-solving, and decision-making abilities. It equips students with the skills needed to move on to graduate studies in Economics and related disciplines, or to enter a wide range of occupations.
Program Learning Outcomes
Upon successful completion of this program, students will demonstrate:
Critical Thinking:
- Apply economic analysis to everyday problems to understand current events and evaluate specific policy proposals.
- Assess the role played by assumptions in arguments that reach different conclusions to a specific economic or policy problem.
Scientific Literacy or Numeracy (Quantitative Reasoning):
- Combine quantitative evidence with economic models to assess the validity of various economic and policy relevant arguments.
- Collect relevant data, develop empirical evidence using appropriate statistical techniques and interpret the results while taking into account potential statistical biases.
Communication Skills:
- Formulate well-organized written arguments that state assumptions and hypotheses and communicate them in an oral, written and visual format to a wide range of audiences.
General Skills:
- Explain how incentives determine choices and shape human behaviour.
- Apply economic reasoning in personal decision making.
- Interpret sophisticated academic and policy analysis for a general audience.
B.A. Major in Economics
Admission Requirements
To be admitted to the major program students must successfully complete:
- All of ECON_O 101 and 102; and,
- A minimum of 24 credits
Degree Requirements
| Major in Economics | Credits |
|---|---|
| Foundational Requirements | 21 |
| Distribution Requirements | 12 |
| Program Requirements | 54 |
| 300/400-level Electives outside of ECON | 18 |
| Electives any level | 15 |
| Total Credits | 120 |
Note: Some program requirements may be applied to Foundational and Distribution requirements; see B.A. requirements.
Program Requirements
| First Year | Credits |
|---|---|
| ECON_O 101 | 3 |
| ECON_O 102 | 3 |
| One of MATH_O 100, 116 | 3 |
| One of MATH_O 101, 142 | 3 |
| Total Credits | 12 |
| Second year | Credits |
|---|---|
| ECON_O 204 | 3 |
| ECON_O 205 | 3 |
| ECON _O 225 | 3 |
| Total Credits | 9 |
| Third and Fourth Years | Credits |
|---|---|
| ECON_O 327 | 3 |
| ECON_O 328 | 3 |
| Microeconomics: One of ECON_O 308, 386, 401 | 3 |
| Monetary/ Macroeconomics: One of ECON_O 309, 345, 347, 356, 402, 409 | 3 |
| Economic History: One of ECON_O 2321, 330, 331, 338, 339 | 3 |
| 300/400-level ECON_O electives | 15 |
| Total 300/400-level ECON_O credits | 30 |
| ECON_O electives any level1 | 3 |
| Program Requirement Total Credits | 54 |
1If ECON_O 232 is selected for the Economic History requirement, then a 300/400-level course is required for the remaining ECON_O elective.
Minor in Economics
To complete a Minor in Economics, students must accumulate no fewer than 30 credits in Economics out of the 120 credits required for the B.A. degree. At least 18 of these credits must be numbered 300 or above.
B.A. Honours in Economics
The Honours program in Economics enables high-achieving B.A. Major students in Economics to gain research experience through the completion of a directed-studies project (ECON_O 499 Honours Essay) under the supervision of a faculty member. Students intending to pursue graduate studies in economics are advised to consider taking the Honours program since it better equips them to be successful; in addition, most of the high-quality programs in Economics expect potential graduate students to have completed an Honours degree.
Students who wish to enrol in the Honours program must submit a formal application to the coordinator of the Honours Program. After admission, students must complete ECON_O 495 (Honours Seminar) and ECON_O 499 (Honours Essay) in sequence during their final year of study.
Admission Requirements:
- Fourth-year standing in the Economics Major;
- A minimum grade average of 78% in all courses taken to date that are applicable to the Economics Major;
- A minimum grade of 78% in both ECON_O 204 and ECON_O 205;
- A minimum grade average of 78% in MATH_O 100 or 116 and MATH_O 101 or 142;
- Successful completion of ECON_O 327 and ECON_O 328.
- Approval of the Honours program coordinator and the head.
Degree Requirements
| Honours in Economics | Credits |
|---|---|
| Foundational Requirements | 21 |
| Distribution Requirements | 12 |
| Program Requirements | 60 |
| 300/400-level Electives outside of ECON | 18 |
| Electives any level | 9 |
| Total Credits | 120 |
Note: Some program requirements may be applied to Foundational and Distribution requirements; see B.A. requirements.
Program Requirements
| First Year | Credits |
|---|---|
| ECON_O 101 | 3 |
| ECON_O 102 | 3 |
| One of MATH_O 100, 116 | 3 |
| One of MATH_O 101, 142 | 3 |
| Total Credits | 12 |
| Second Year | Credits |
|---|---|
| ECON_O 204 | 3 |
| ECON_O 205 | 3 |
| ECON_O 225 | 3 |
| Total Credits | 9 |
| Third and Fourth Years | Credits |
|---|---|
| ECON_O 327 | 3 |
| ECON_O 328 | 3 |
| ECON_O 401 | 3 |
| ECON_O 402 | 3 |
| ECON_O 427 | 3 |
| ECON_O 495 | 3 |
| ECON_O 499 | 3 |
| One of ECON_O 2322, 330, 331, 332, 333, 338, 339 | 3 |
| Additional 300/400-level ECON_O | 12 |
| Total 300/400-level ECON_O credits | 36 |
| ECON_O electives any level2 | 3 |
| Program Requirement Total Credits | 60 |
2 If ECON_O 232 is selected, then a 300/400-level course is required for the remaining ECON_O elective.
Graduation Requirements:
- A minimum overall grade average of 78% in all Economics (ECON) courses;
- A minimum overall grade average of 78% in all courses; and
- A minimum of 54 credits of Economics with at least 36 credits at the upper level.