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Introduction

Economics is a social science that encompasses a particular range of human behaviour and has a strong influence on the structure, well-being, and development of a society.

Much of human activity is directed towards the satisfaction of material wants. In many areas of the world, the greater part of human effort must be directed towards meeting the most elemental demands for food, clothing, and shelter. Even in technologically advanced societies, where these basic requirements can be met with comparative ease, the desire for more goods and services never appears to be fully satisfied. In consequence, every society — regardless of whether it is capitalist, socialist, or communist in political orientation — is both competitive and cooperative. It is competitive because its members contend with one another to satisfy their individual wants from a limited supply of productive resources. It is cooperative because the greatest supply of goods is available when the activity of producing them is coordinated and organized. Economics deals with any issue arising out of the conflict between the demand for goods and services, and a limited supply of resources to satisfy those demands.

Undergraduate training in economics is intended to familiarize students with the discipline of economic thinking, and to equip them for intelligent appraisal of contemporary economic problems. It is also intended to make students aware of the nature of economic science, and of the directions in which economic theory is moving.

Economic theory now makes considerable use of mathematics in some of its enquiries. A student who chooses to specialize in economics should take at least one basic course in mathematics. More such courses may be taken, and several economics courses draw on mathematical analysis.

Because of advances in economic theory, an undergraduate degree is not sufficient to become a professional economist. For this or other reasons, graduate work may be necessary. Students who wish to do graduate work should seek advice from the Department concerning their choice of courses.

The Department publishes an Undergraduate Handbook. Copies may be obtained from the Department at 150 St. George Street. Some Economics Specialist Programs list advisors whom students are encouraged to consult.

Undergraduate Secretary:

R. Innes

Enquiries:

150 St. George St., South Wing (978-4603)

ECONOMICS PROGRAMS

Enrolment in Economics courses and programs is based on grades in ECO 100Y and, in some cases, MAT 133Y or MAT 135Y or MAT 137Y/151Y. Consult Calendar Supplement and Departmental Handbook for details.

ECONOMIC HISTORY (B.A.) Consult Department of Economics.
Enrolment in the Economic History Programs is limited to students with 63% in ECO 100Y, or who have passed ECO 100Y and have a CGPA of 2.50, or who have 80% in ECO 105Y.

Specialist program (Hon.B.A.):
(13 full courses or their equivalent, including at least one 400-series course)

First Year:
ECO 100Y/105Y; MAT 133Y/135Y/137Y

Higher Years:

1. ECO 200Y/206Y, 202Y/208Y, ECO 220Y/227Y/STA (250H, 255H)/(257H, 261H)
2. Five Economic History courses from: ECO 201Y, 302Y, 303Y, 306Y, 321Y/323Y, 335Y, 342Y, 423H, 429Y, 452H, 453Y, 457Y
3. Two additional ECO courses
4. One course in History
NOTE:
1. At least four 300+ series courses, including one 400-series course, must be completed for this program
2. MGT 310Y qualifies as a 300-series ECO course

Major program (B.A.):
(6 full courses or their equivalent)

First Year:
ECO 100Y/105Y

Higher Years:

1. ECO 201Y/303Y, 321Y/323Y
2. Three additional Economic History courses, including at least one 300+ series course, from: ECO 201Y, 302Y, 303Y, 306Y, 335Y, 342Y, 423H, 429Y, 452H, 453Y, 457Y

Minor program (B.A.):
(4 full courses or their equivalent)
1. ECO 100Y/105Y
2. Three additional Economic History courses, including at least one 300+ series course from: ECO 201Y, 302Y, 303Y, 306Y, 321Y/323Y, 322Y, 335Y, 342Y, 423H, 452H, 453Y, 457Y

ECONOMICS (B.A.)

Enrolment in the Specialist Program is limited to students with 70% in ECO 100Y, and 63% in MAT 133Y or 60% in MAT 135Y or 55% in MAT 137Y.

Specialist program (Hon.B.A.):
(13 full courses or their equivalent, including at least one 400-series course)

First Year:
ECO 100Y; MAT 133Y/135Y/137Y

Higher Years:

1. ECO 206Y, 208Y, ECO 227Y/STA (257H, 261H), ECO 325H, 326H/432Y, 327Y/357Y, 429Y
2. One Economic History course from the following: ECO 201Y/302Y/303Y/306Y/321Y/323Y/335Y/342Y/423H/452H/453Y/457Y
3. Four additional 300+ series ECO courses, including at least one 400-series course
4. Additional preparation is strongly recommended: APM 233Y/MAT 235Y/223H/ECO 210H
NOTE: MGT 310Y qualifies as a 300-series ECO course

Enrolment in the Major Program is limited to students with 63% in ECO 100Y, or 80% in ECO 105Y, or who have passed ECO 100Y and have a CGPA of 2.50.

Major program (B.A.):
(7 full courses or their equivalent)

First Year:
ECO 100Y/105Y; MAT 133Y/135Y/137Y

Higher Years:

1. ECO 200Y/206Y, 202Y/208Y, ECO 220Y/227Y/STA (250H, 255H)/(257H, 261H)
2. Two additional 300+ series ECO courses, no more than one of which may be a course in Economic History
NOTE: MGT 310Y qualifies as a 300-series ECO course

Enrolment in the Minor Program is limited to students with 63% in ECO 100Y, or 80% in ECO 105Y, or who have passed ECO 100Y and have a CGPA of 2.50.

Minor program (B.A.):
(4 full courses or their equivalent)
1. ECO 100Y/105Y
2. ECO 200Y
3. Two additional ECO courses, including at least one 300+ series course

ECONOMICS (COMMERCE and FINANCE) (B.Com.) — See Section 3, COMMERCE

ECONOMICS and the DIVISION of the ENVIRONMENT — See DIVISION of the ENVIRONMENT

ECONOMICS (QUANTITATIVE METHODS) (Hon.B.Sc.)
Enrolment in this program is limited to students with 70% in ECO 100Y and 55% in MAT 137Y.

Specialist program:
(12 full courses or their equivalent, including at least one 400-series course)

First Year:
ECO 100Y; MAT 137Y/157Y

Higher Years:

1. APM 236H/261H/CSC 228H/238H
2. ECO 206Y, 208Y, 325H, 326H/432Y, 327Y/357Y
3. MAT 223H, 235Y/237Y
4. STA (257H, 261H)/ECO 227Y
5. One course from Group A and two courses from A or B (for a total of three):

Group A: APM 236H/261H, 361H, 366H; ECO 416H, 418H, CSC 148H, 260H/270H, 228H, 238H, 336H/350H, 340H, 354H, 364H, 378H; MAT 315H, 337H; STA 322H, 352Y, 422H, 452H, 457H

Group B: Any 300+ series ECO course
NOTE:
1. At least four 300+ series courses, including one 400-series course, must be completed for this program.
2. MGT 310Y qualifies as a 300-series ECO course

ECONOMICS AND COMPUTER SCIENCE (Hon.B. Sc.) — See COMPUTER SCIENCE

ECONOMICS AND GEOGRAPHY (Hon.B.A.) Consult Professor A.M. Davis, Undergraduate Coordinator, Department of Geography.
Enrolment in this Program is limited to students with 63% in ECO 100Y, or 80% in ECO 105Y, or who have passed ECO 100Y and have a CGPA of 2.50.

Specialist program:
(15 full courses or their equivalent, including at least one 400-series course)

First Year:
ECO 100Y/105Y; MAT 133Y/135Y/137Y; GGR 107Y/110Y/124Y

Higher Years:

1. ECO 200Y/206Y, 202Y/208Y, 333Y; GGR 220Y
2. ECO 220Y/227Y/GGR 270Y/STA (250H, 255H)/(257H, 261H)
3. Two full courses from: GGR 233Y, 249H, 252H, 254H, 256H, 323H, 324H, 326H, 331H, 332H, 333H, 334H, 343H, 344H, 357H, 436H, JGI 346H, other choices from 5. and 6. below
4. Two full courses from: ECO 303Y, 306Y, 313H, 319H, 321Y/323Y, 334Y, 335Y, 336Y, 340H, 342Y, 410H, 414H, 423H, 425H
5. One of GGR 272H, 273H, 327H, 371H, 373H, 462H, 473H
6. GGR 391H, 491Y/two of GGR 415H, 431H, 450H, 459H, 499H, JFG 470H
7. One additional ECO/GGR course if ECO 220Y/227Y or GGR 270Y is chosen, or two if STA (250H, 255H)/(257H, 261H)) are chosen
NOTE: MGT 310Y qualifies as a 300-series ECO course

ECONOMICS AND MATHEMATICS (Hon.B.Sc.) Consult Professor N.A. Derzko, Department of Mathematics, or Associate Chair, Department of Economics.
Enrolment in this Program is limited to students with 70% in ECO 100Y and 55% in MAT 137Y.

Specialist program:
(13 full courses or their equivalent, including at least one 400-series course)

First Year:
ECO 100Y; MAT 137Y/157Y

Second Year:
ECO 206Y, 208Y, ECO 227Y/STA (257H, 261H); MAT (223H, 237Y, 246Y)/257Y
Second or Third Year
: APM 261H; MAT 244H/267H

Third Year:
MAT 315H/337H/357Y (MAT 357Y may be taken in Fourth Year)

Third or Fourth Year:

1. APM 456H; ECO 325H/326H
2. Two 300+series ECO courses
3. One course from: MAT 309H/315H/334H/337H/344H/364H/any 400-series MAT course/another 300+level STA course, subject to the approval of the advisors
NOTE: MGT 310Y qualifies as a 300-series ECO course

ECONOMICS AND PHILOSOPHY (Hon.B.A.) Consult Professor B.F. Brown, Undergraduate Secretary, Department of Philosophy.
Enrolment in this Program is limited to students with 63% in ECO 100Y, or 80% in ECO 105Y, or who have passed ECO 100Y and have a CGPA of 2.50.

Specialist program:
(15 full courses or their equivalent, including at least one 400-series course)

First Year:
ECO 100Y/105Y; MAT 133Y/135Y/137Y

Higher Years:

1. ECO 200Y/206Y, 202Y/208Y, ECO 220Y/227Y/STA (250H, 255H)/(257H, 261H), ECO 429Y
2. Two additional ECO courses
3. Seven courses in Philosophy; it is strongly recommended that five be chosen according to the profile specified in the Philosophy Specialist Program, with at least two being 300+ series courses.
NOTE:
1. At least four 300+ series courses, including one 400-series course, must be completed for this program.
2. MGT 310Y qualifies as a 300-series ECO course

ECONOMICS AND POLITICAL SCIENCE (Hon.B.A.) Consult Director of Undergraduate Studies, Department of Political Science.
Enrolment in this Program is limited to students with 63% in ECO 100Y, or 80% in ECO 105Y, or who have passed ECO 100Y and have a CGPA of at least 2.50. Students should also have met the requirements of the Political Science Department (see Page 375).

Specialist program:
(15 full courses or their equivalent, including at least one 400-series course)
NOTE: The 15 courses must include 8 in ECO, two of which must be 300+ series; and 7 in POL or JPE, including one 300+ series course and one 400-series course. At least one POL course must be in the area of Canadian politics.

First Year:
ECO 100Y/105Y; MAT 133Y/135Y/137Y; POL 102Y/103Y/108Y/214Y

Higher Years:

1. POL 200Y
2. ECO 200Y/206Y, 202Y/208Y, ECO 220Y/227Y/STA (250H, 255H)/(257H, 261H), ECO 429Y
3. ECO 201Y/303Y/306Y/321Y/323Y/335Y/342Y
4. One additional ECO course
5. One full course from any of the following three fields in Political Science (see Departmental Handbook for breakdown of courses into fields):
Comparative Politics (Developing)
Comparative Politics (Industrial)
International Relations
6. One full course from: JPE 400Y/402Y/POL 409Y/418Y/426H/435Y/442Y/454Y/474H/475H/488H/489H
7. Three additional courses in POL or JPE
NOTE: MGT 310Y qualifies as a 300-series ECO course

ECONOMICS AND SOCIOLOGY (Hon.B.A.) Consult Undergraduate Secretary, Department of Economics.
Enrolment in this Program is limited to students with 63% in ECO 100Y, or 80% in ECO 105Y, or who have passed ECO 100Y and have a CGPA of 2.50. Students must have 65% in SOC 101Y, and 70% in each of SOC 200Y and 203Y. Students must have completed 8 full courses and be enrolled in the Sociology Major program.

Specialist program:
(15 full courses or their equivalent, including at least one 400-series course)

First Year:
ECO 100Y/105Y; MAT 133Y/135Y/137Y; SOC 101Y

Higher Years:

1. ECO 200Y/206Y, 202Y/208Y, ECO 220Y/227Y/SOC 300Y/STA (250H, 255H)/(257H, 261H)
2. SOC 200Y, 203Y, 389Y, 401Y, 405Y
3. Two of the following pairs of courses: ECO 321Y/323Y & SOC 220Y; ECO 310Y & SOC 317Y; ECO 333Y & SOC 205Y; ECO 339Y & SOC 207Y/370Y; ECO 340H plus a second ECO half-course & SOC 301Y; ECO 425H plus a second ECO half-course & SOC 312Y
NOTE:
1. At least four 300+ series courses, including one 400-series course, must be completed for this program
2. MGT 310Y qualifies as a 300-series ECO course

ECONOMICS AND STATISTICS (Hon.B.Sc.) Consult Professor D.J. Poirier, Department of Economics.
Enrolment in this Program is limited to students with 70% in ECO 100Y and 55% in MAT 137Y.

Specialist program:
(14 full courses or their equivalent, including at least one 400-series course)

First Year:
CSC 108H/148H/260H; ECO 100Y; MAT 137Y/157Y

Second Year:
ECO 206Y, 208Y; MAT 223H, 237Y; ECO 227Y/STA (257H, 261H)

Third Year:

1. ECO 325H, 326H, 357Y; STA 347H
2. One 300+ series ECO course
3. STA 352Y

Fourth Year:

1. ECO 416H/418H
2. A 300+ series ECO half-course
3. STA 437H, 457H; one STA half-course from STA 348H/422H/442H
4. One additional half-course from ACT 335H/MAT 244H/267H/a 300+ series ECO or STA half-course
NOTE: MGT 310Y qualifies as a 300-series ECO course