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 (416-978-4603)

ECONOMICS PROGRAMS

ECONOMIC HISTORY (B.A.).
Enrolment in the Economic History Programs is limited to students with 63% in ECO 100Y1, or who have passed ECO 100Y1 and have a CGPA of 2.50, or who have 80% in ECO 105Y1.

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

First Year:
ECO 100Y1/105Y1; MAT 133Y1/135Y1/137Y1

Higher Years:

1. ECO 200Y1/206Y1, 202Y1/208Y1, ECO 220Y1/227Y1/STA (250H1, 255H1)/(257H1, 261H1)
2. Five Economic History courses from: ECO 201Y1, 302Y1, 303Y1, 306Y1, 321Y1/323Y1, 335Y1, 342Y1, 423H1, 429Y1, 452H1, 453Y1, 457Y1
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 310Y1 qualifies as a 300-series ECO course

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

First Year:
ECO 100Y1/105Y1

Higher Years:

1. ECO 201Y1/303Y1, 321Y1/323Y1
2. Three additional Economic History courses from: ECO 201Y1, 302Y1, 303Y1, 306Y1, 335Y1, 342Y1, 423H1, 429Y1, 452H1, 453Y1, 457Y1

Minor program (B.A.):
(4 full courses or their equivalent)
1. ECO 100Y1/105Y1
2. Three additional Economic History courses from: ECO 201Y1, 302Y1, 303Y1, 306Y1, 321Y1/323Y1, 335Y1, 342Y1, 423H1, 429Y1, 452H1, 453Y1, 457Y1

ECONOMICS (B.A.)

Enrolment in the Specialist Program is limited to students with 70% in ECO 100Y1, and 63% in MAT 133Y1 or 60% in MAT 135Y1 or 55% in MAT 137Y1.

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

First Year:
ECO 100Y1; MAT 133Y1/135Y1/137Y1

Higher Years:

1. ECO 206Y1, 208Y1, ECO 227Y1/STA (257H1, 261H1), ECO 325H1, 326H1/432Y1, 327Y1/357Y1, 429Y1
2. One Economic History course from the following: ECO 201Y1/302Y1/303Y1/306Y1/321Y1/323Y1/335Y1/342Y1/423H1/452H1/453Y1/457Y1
3. Four additional 300+ series ECO courses
4. Additional preparation is strongly recommended: MAT 223H1, 235Y1/ECO 210H1
NOTE: MGT 310Y1 qualifies as a 300-series ECO course

Enrolment in the Major Program is limited to students with 63% in ECO 100Y1, or 80% in ECO 105Y1, or who have passed ECO 100Y1 and have a CGPA of 2.50.

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

First Year:
ECO 100Y1/105Y1; MAT 133Y1/135Y1/137Y1

Higher Years:

1. ECO 200Y1/206Y1, 202Y1/208Y1, ECO 220Y1/227Y1/STA (250H1, 255H1)/(257H1, 261H1)
2. Two additional 300+ series ECO courses, no more than one of which may be a course in Economic History
NOTE: MGT 310Y1 qualifies as a 300-series ECO course

Enrolment in the Minor Program is limited to students with 63% in ECO 100Y1, or 80% in ECO 105Y1, or who have passed ECO 100Y1 and have a CGPA of 2.50.

Minor program (B.A.):
(4 full courses or their equivalent)
1. ECO 100Y1/105Y1
2. ECO 200Y1
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 100Y1 and 55% in MAT 137Y1.

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

First Year:
ECO 100Y1; MAT 137Y1/157Y1

Higher Years:

1. APM 236H1/CSC 228H1/238H1/(165H1, 236H1)
2. ECO 206Y1, 208Y1, 325H1, 326H1/432Y1, 327Y1/357Y1
3. MAT 223H1, 235Y1/237Y1
4. STA (257H1, 261H1)/ECO 227Y1
5. One course from Group A and two courses from A or B (for a total of three):

Group A: APM 236H1, 362H1; ECO 416H1, 418H1, CSC 148H1, 260H1/270H1, 228H1, 238H1/(165H1, 236H1), 336H1/350H1, 340H1, 354H1, 363H1, 378H1; MAT 315H1, 337H1; STA 322H1, 352Y1, 422H1, 452H1, 457H1, 464H1

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 310Y1 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 100Y1, or 80% in ECO 105Y1, or who have passed ECO 100Y1 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 100Y1/105Y1; MAT 133Y1/135Y1/137Y1; GGR 107Y1/110Y1/124Y1

Higher Years:

1. ECO 200Y1/206Y1, 202Y1/208Y1, 333Y1; GGR 220Y1
2. ECO 220Y1/227Y1/STA (250H1, 255H1)/(257H1, 261H1)
3. Two full courses from: GGR 233Y1, 249H1, 252H1, 254H1, 256H1, 323H1, 324H1, 326H1, 331H1, 332H1, 333H1, 334H1, 343H1, 344H1, 357H1, 436H1, JGI 346H1, other choices from 5. and 6. below
4. Two full courses from: ECO 303Y1, 306Y1, 313H1, 319H1, 321Y1/323Y1, 334Y1, 335Y1, 336Y1, 340H1, 342Y1, 423H1, 425H1
5. One of GGR 271H1, 273H1, 371H1, 373H1, 462H1, 473H1
6. GGR 391H1, 491Y1/two of GGR 415H1, 431H1, 450H1, 459H1, 499H1, JFG 470H1
7. One additional ECO/GGR course if ECO 220Y1/227Y1 is chosen, or two if STA (250H1, 255H1)/(257H1, 261H1)) are chosen
NOTE: MGT 310Y1 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 100Y1 and 55% in MAT 137Y1.

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

First Year:
ECO 100Y1; MAT 137Y1/157Y1

Second Year:
ECO 206Y1, 208Y1, ECO 227Y1/STA (257H1, 261H1); MAT (223H1, 237Y1, 246Y1)/257Y1
Second or Third Year
: APM 236H1; MAT 244H1/267H1

Third Year:
MAT 315H1/337H1/(327H1, 357H1) (MAT 357H1 may be taken in Fourth Year)

Third or Fourth Year:

1. APM 456H1; ECO 325H1/326H1
2. Two 300+series ECO courses
3. One course from: MAT 309H1/315H1/334H1/337H1/344H1/363H1/464H1 any 400-series MAT course/another 300+level STA course, subject to the approval of the advisors
NOTE: MGT 310Y1 qualifies as a 300-series ECO course

ECONOMICS AND PHILOSOPHY (Hon.B.A.) Consult the Undergraduate Coordinator, Department of Philosophy.
Enrolment in this Program is limited to students with 63% in ECO 100Y1, or 80% in ECO 105Y1, or who have passed ECO 100Y1 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 100Y1/105Y1; MAT 133Y1/135Y1/137Y1

Higher Years:

1. ECO 200Y1/206Y1, 202Y1/208Y1, ECO 220Y1/227Y1/STA (250H1, 255H1)/(257H1, 261H1), ECO 429Y1
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 must be completed for this program.
2. MGT 310Y1 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 100Y1, or 80% in ECO 105Y1, or who have passed ECO 100Y1 and have a CGPA of at least 2.50. Students should also have met the requirements of the Political Science Department (see Page 381).

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 100Y1/105Y1; MAT 133Y1/135Y1/137Y1; POL 102Y1/103Y1/108Y1/(180H1, 181H1)/214Y1

Higher Years:

1. POL 200Y1
2. ECO 200Y1/206Y1, 202Y1/208Y1, ECO 220Y1/227Y1/STA (250H1, 255H1)/(257H1, 261H1), ECO 429Y1
3. ECO 201Y1/303Y1/306Y1/321Y1/323Y1/335Y1/342Y1
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 400Y1/POL 409H1/418Y1/435Y1/442Y1/454Y1/463Y1/474H1/475H1/488H1/489H1
7. Three additional courses in POL or JPE
NOTE: MGT 310Y1 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 100Y1, or 80% in ECO 105Y1, or who have passed ECO 100Y1 and have a CGPA of 2.50. Students must have 65% in SOC 101Y1, and 70% in each of SOC 200Y1 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 100Y1/105Y1; MAT 133Y1/135Y1/137Y1; SOC 101Y1

Higher Years:

1. ECO 200Y1/206Y1, 202Y1/208Y1, ECO 220Y1/227Y1/SOC 300Y1/STA (250H1, 255H1)/(257H1, 261H1)
2. SOC 200Y1, 203Y1, 387Y1, 389Y1, 401Y1
3. Two of the following pairs of courses: ECO 321Y1/323Y1 & SOC 220Y1; ECO 310Y1 & SOC 317Y1; ECO 333Y1 & SOC 205Y1; ECO 339Y1 & SOC 207Y1/370Y1; ECO 340H1 plus a second ECO half-course & SOC 301Y1; ECO 425H1 plus a second ECO half-course & SOC 312Y1
NOTE:
1. At least four 300+ series courses must be completed for this program
2. MGT 310Y1 qualifies as a 300-series ECO course

ECONOMICS AND STATISTICS (Hon.B.Sc.) Consult Undergraduate Secretary, Department of Economics.
Enrolment in this Program is limited to students with 70% in ECO 100Y1 and 55% in MAT 137Y1.

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

First Year:
CSC 148H1/150H1/260H1; ECO 100Y1; MAT 137Y1/157Y1

Second Year:
ECO 206Y1, 208Y1; MAT 223H1, 237Y1; ECO 227Y1/STA (257H1, 261H1)

Third Year:

1. ECO 325H1, 326H1, 357Y1; STA 347H1
2. One 300+ series ECO course
3. STA 352Y1

Fourth Year:

1. ECO 416H1/418H1
2. A 300+ series ECO half-course
3. STA 437H1, 457H1; one STA half-course from STA 348H1/422H1/442H1
4. One additional half-course from ACT 335H1/MAT 244H1/267H1/a 300+ series ECO or STA half-course
NOTE: MGT 310Y1 qualifies as a 300-series ECO course