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ECO Economics


On this page: Introduction | Programs |
See also: Faculty Members | Course Descriptions | Course Winter Timetable | More on Department

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

Commerce Assistant:

J. Alaimo

Enquiries:

150 St. George St., South Wing (416-978-4603)

Economics Programs

Enrolment in Economics courses and programs is based on grades in ECO100Y1 and, in some cases, MAT133Y1 or MAT135Y1 or MAT137Y1/MAT157Y1. Consult the Registration Handbook & Timetable and Departmental Handbook for details.

Economic History (Arts program)


Enrolment in the Economic History Programs is limited to students with 63% in ECO100Y1, or who have passed ECO100Y1 and have a CGPA of 2.50, or who have 80% in ECO105Y1.

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

First Year:
ECO100Y1/ECO105Y1; MAT133Y1/MAT135Y1/MAT137Y1

Higher Years:
1. ECO200Y1/ECO206Y1, ECO202Y1/ECO208Y1, ECO220Y1/ECO227Y1/STA (STA250H1, STA255H1)/(STA257H1, STA261H1)
2. Five Economic History courses from: ECO201Y1, ECO302H1, ECO303Y1, ECO306Y1, ECO321Y1, ECO342Y1, ECO423H1, ECO429Y1, ECO435H1, ECO452H1, ECO457Y1
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. MGT310Y1 qualifies as a 300-series ECO course

Major program
(6 full courses or their equivalent)

First Year:
ECO100Y1/ECO105Y1

Higher Years:
1. ECO200Y1/ECO206Y1
2. Four additional Economic History courses from: ECO201Y1, ECO302H1, ECO303Y1, ECO306Y1, ECO321Y1, ECO342Y1, ECO423H1, ECO429Y1, ECO435H1, ECO452H1, ECO457Y1

Minor program:
(4 full courses or their equivalent)
1. ECO100Y1/ECO105Y1
2. ECO200Y1/ECO206Y1
3. Two additional Economic History courses from: ECO201Y1, ECO302H1, ECO303Y1, ECO306Y1, ECO321Y1, ECO342Y1, ECO423H1, ECO429Y1, ECO435H1, ECO452H1, ECO457Y1

Economics (Arts program)


Enrolment in the Specialist Program is limited to students with 70% in ECO100Y1, and 63% in MAT133Y1 or 60% in MAT135Y1 or 55% in MAT137Y1.

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

First Year:
ECO100Y1; MAT133Y1/MAT135Y1/MAT137Y1

Higher Years:
1. ECO206Y1, ECO208Y1, ECO227Y1/STA (STA257H1, STA261H1),
ECO325H1, ECO326H1/ECO432H1, ECO327Y1, ECO429Y1
2. One Economic History course from the following:
ECO201Y1/ECO302H1/ECO303Y1/ECO306Y1/ECO321Y1/ECO342Y1/ECO423H1/ECO435H1/ ECO452H1/ECO457Y1
3. Four additional 300+ series ECO courses
4. Additional preparation is strongly recommended: MAT223H1, MAT235Y1/ECO210H1

Major program:
(7 full courses or their equivalent)

Enrolment in the Major Program is limited to students with 63% in ECO100Y1, or 80% in ECO105Y1, or who have passed ECO100Y1 and have a CGPA of 2.50.

First Year:
ECO100Y1/ECO105Y1; MAT133Y1/MAT135Y1/MAT137Y1

Higher Years:
1. ECO200Y1/ECO206Y1, ECO202Y1/ECO208Y1/ECO209Y1, ECO220Y1/ECO227Y1/
STA (STA250H1, STA255H1)/(STA257H1, STA261H1)
2. Two additional 300+ series ECO courses, no more than one of which may be a course in Economic History

Minor program:
(4 full courses or their equivalent)

Enrolment in the Minor Program is limited to students with 63% in ECO100Y1, or 80% in ECO105Y1, or who have passed ECO100Y1 and have a CGPA of 2.50.
1. ECO100Y1/ECO105Y1
2. ECO200Y1
3. Two additional ECO courses, including at least one 300+ series course
Note:
Only one Economic History course is permitted in this program.
Economics (Commerce & Finance) (B.Com.) - See Commerce (page 34)
Economics and the Division of the Environment - See Division of the Environment

Economics (Quantitative Methods) (Science program)
Enrolment in this program is limited to students with 70% in ECO100Y1 and 55% in MAT137Y1.

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

First Year:
ECO100Y1; MAT137Y1/MAT157Y1

Higher Years:
1. APM236H1/CSC(CSC165H1,CSC236H1)/CSC240H1/CSC263H1
2. ECO206Y1, ECO208Y1, ECO325H1, ECO326H1/ECO432H1, ECO327Y1
3. MAT223H1, MAT235Y1/MAT237Y1
4. ECO227Y1/STA (STA257H1, STA261H1)
5. One course from Group A and two courses from A or B (for a total of three):

Group A:
ECO416H1, ECO418H1/APM236H1, APM362H1; CSC148H1, (CSC165H1, CSC236H1)/CSC240H1, CSC207H1, CSC260H1, CSC263H1, CSC336H1/CSC350H1, CSC340H1, CSC354H1, CSC363H1/CSC365H1, CSC373H1/CSC375H1, MAT315H1, MAT337H1; STA322H1, STA352Y1, STA422H1, 452H1, STA457H1, 464H1

Group B:
Any 300+ series ECO course
Note:
At least four 300+ series courses, including at least one 400-series course, must be completed for this program.
Economics and Computer Science (Science program) - See Computer Science

Economics and Geography (Arts program)


Consult Professor A.M. Davis, Undergraduate Coordinator, Department of Geography.
Enrolment in this Program is limited to students with 63% in ECO100Y1, or 80% in ECO105Y1, or who have passed ECO100Y1 and have a CGPA of 2.50.

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

First Year:
ECO100Y1/ECO105Y1; MAT133Y1/MAT135Y1/MAT137Y1; GGR107Y1/110Y1/GGR124Y1

Higher Years:
1. ECO200Y1/ECO206Y1, ECO202Y1/ECO208Y1, ECO333Y1; GGR220Y1
2. ECO220Y1/ECO227Y1/STA (STA250H1, STA255H1)/(STA257H1, STA261H1)
3. Two full courses from: GGR233Y1, GGR249H1, GGR252H1, GGR254H1, GGR256H1, GGR323H1, GGR324H1, GGR326H1, GGR331H1, GGR332H1, GGR333H1, GGR334H1, GGR343H1, GGR344H1, GGR357H1, GGR436H1, JGI346H1, other choices from 5. and 6. below
4. Two full courses from: ECO303Y1, ECO306Y1, ECO313H1, ECO319H1, ECO321Y1, ECO334Y1, ECO336Y1, ECO340H1, ECO342Y1, ECO423H1, ECO425H1, ECO435H1
5. One of GGR271H1, GGR273H1, GGR371H1, GGR373H1, GGR462H1, GGR473H1
6. GGR391H1, GGR491Y1/two of GGR415H1, GGR431H1, GGR450H1, GGR459H1, GGR499H1, JFG470H1
7. One additional ECO/GGR course if ECO220Y1/ECO227Y1 is chosen, or two if STA (STA250H1, STA255H1)/(STA257H1, STA261H1)) are chosen

Economics & Mathematics (Science program)


Consult Professor N.A. Derzko, Department of Mathematics, or Undergraduate Secretary, Department of Economics.
Enrolment in this Program is limited to students with 70% in ECO100Y1 and 55% in MAT137Y1.

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

First Year:
ECO100Y1; MAT137Y1/MAT157Y1

Second Year:
ECO206Y1, ECO208Y1, ECO227Y1/STA (STA257H1, STA261H1); MAT (MAT223H1, MAT237Y1, MAT246Y1)/MAT257Y1

Second or Third Year:
APM236H1; MAT244H1/MAT267H1

Third Year:
MAT315H1/MAT337H1/(MAT327H1, MAT357H1) (MAT357H1 may be taken in Fourth Year)

Third or Fourth Year:
1. APM362H1; ECO325H1/ECO326H1
2. Two 300+series ECO courses
3. One course from: MAT309H1/MAT315H1/MAT334H1/MAT337H1/MAT344H1/
363H/464H/any 400-series MAT course/another 300+level STA course, subject to the approval of the advisors

Economics & Philosophy (Arts program)


Consult the Undergraduate Coordinator, Department of Philosophy.
Enrolment in this Program is limited to students with 63% in ECO100Y1, or 80% in ECO105Y1, or who have passed ECO100Y1 and have a CGPA of 2.50.

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

First Year:
ECO100Y1/ECO105Y1; MAT133Y1/MAT135Y1/MAT137Y1

Higher Years:
1. ECO200Y1/ECO206Y1, ECO202Y1/ECO208Y1, ECO220Y1/ECO227Y1/
STA (STA250H1, STA255H1)/(STA257H1, STA261H1), ECO429Y1
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:
At least four 300+ series courses must be completed for this program.

Economics & Political Science (Arts program)


Consult Director of Undergraduate Studies, Department of Political Science.
Enrolment in this Program is limited to students with 63% in ECO100Y1, or 80% in ECO105Y1, or who have passed ECO100Y1 and have a CGPA of at least 2.50. Students should also have met the requirements of the Political Science Department (see the Political Science listings).

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:
ECO100Y1/ECO105Y1; MAT133Y1/MAT135Y1/MAT137Y1; POL102Y1/POL103Y1/POL108Y1/ (180H1, 181H1)/POL214Y1

Higher Years:
1. POL200Y1
2. ECO200Y1/ECO206Y1, ECO202Y1/ECO208Y1, ECO220Y1/ECO227Y1/STA (STA250H1, STA255H1)/(STA257H1, STA261H1), ECO429Y1
3. ECO201Y1/ECO302H1/ECO303Y1/ECO306Y1/ECO321Y1/ECO342Y1/ECO423H1/ ECO435H1/ECO457Y1
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 400/POL 409/418/435/442/454/458/463/474/475/488/489
7. Three additional courses in POL or JPE

Economics & Sociology (Arts program)


Consult Undergraduate Secretary, Department of Economics.
Enrolment in this Program is limited to students with 63% in ECO100Y1, or 80% in ECO105Y1, or who have passed ECO100Y1 and have a CGPA of 2.50. Students must have 65% in SOC101Y1, and 70% in each of SOC200Y1 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:
ECO100Y1/ECO105Y1; MAT133Y1/MAT135Y1/MAT137Y1; SOC101Y1

Higher Years:
1. ECO200Y1/ECO206Y1, ECO202Y1/ECO208Y1, ECO220Y1/ECO227Y1/SOC300Y1/STA (STA250H1, STA255H1)/(STA257H1, STA261H1)
2. SOC200Y1, SOC203Y1, SOC387Y1, SOC389Y1, SOC401Y1
3. Two of the following pairs of courses: ECO321Y1 & SOC220Y1; ECO310Y1 & SOC317Y1; ECO333Y1 & SOC205Y1; ECO339Y1 & SOC207Y1/SOC370Y1; ECO340H1 plus a second ECO half-course & SOC301Y1; ECO425H1 plus a second ECO half-course & SOC312Y1
Note:
At least four 300+ series courses must be completed for this program

Economics & Statistics (Science program)


Consult Undergraduate Secretary, Department of Economics.
Enrolment in this Program is limited to students with 70% in ECO100Y1 and 55% in MAT137Y1.

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

First Year:
CSC148H1/CSC150H1/CSC260H1; ECO100Y1; MAT137Y1/MAT157Y1

Second Year:
ECO206Y1, ECO208Y1; MAT223H1, MAT237Y1; ECO227Y1/STA (STA257H1, STA261H1)

Third Year:
1. ECO325H1, ECO326H1, ECO327Y1; STA347H1
2. One 300+ series ECO course
3. STA352Y1

Fourth Year:
1. ECO416H1/ECO418H1
2. A 300+ series ECO half-course
3. STA437H1, STA457H1; one STA half-course from STA348H1/STA422H1/STA442H1
4. One additional half-course from ACT335H1/MAT244H1/MAT267H1/a 300+ series ECO or STA half-course


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