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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 Administrator: R. Innes
Commerce Assistant: J. Fan
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 & Economics (Arts program)
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:
(13 full courses or their equivalent, including at least one 400-series ECO full-course equivalent)
First Year:
ECO100Y1/ECO105Y1; MAT133Y1/MAT135Y1/MAT137Y1
Higher Years:
1. ECO200Y1/ECO206Y1, ECO202Y1/ECO208Y1, ECO220Y1/ECO227Y1/(STA250H1,STA255H1)/(STA257H1,STA261H1)
2. Four Economic History courses from: 301Y, STA302H1,
303Y, 306Y, 321Y, 342Y, 353Y, 354H, 355H, 423H, 429Y, 435H, 452H, 457Y, 1 HIS
course
3. Four additional ECO courses (not from above list)
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.
Major program
(6 full courses or their equivalent)
First Year:
ECO100Y1/ECO105Y1
Higher Years:
1. ECO200Y1/ECO206Y1
2. Four Economic History courses from: 301Y, ECO302H1, ECO303Y1, ECO306Y1, ECO321Y1, ECO342Y1, ECO353Y1, 354H, 355H, ECO423H1, ECO429Y1, ECO435H1, ECO452H1,ECO457Y1
Minor program:
(4 full courses or their equivalent)
1. ECO100Y1/ECO105Y1
2. ECO200Y1/ECO206Y1
3. Two Economic History courses from from: 301Y, ECO302H1, ECO303Y1, ECO306Y1, ECO321Y1, ECO342Y1, ECO353Y1,
354H, 355H, 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/(STA257H1, STA261H1), ECO325H1, ECO326H1, ECO327Y1, ECO429Y1
2. One Economic History course from the following: 301Y, ECO302H1, ECO303Y1, ECO306Y1, ECO321Y1, ECO342Y1, ECO353Y1, 354H, 355H, ECO423H1, ECO429Y1,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 ECO
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/(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 ECO
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
36)
Environmental Economics - 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/(CSC165H1,CSC236H1)/CSC240H1/CSC263H1
2. ECO206Y1, ECO208Y1, ECO325H1, ECO326H1, ECO327Y1
3. MAT223H1/MAT240H1, MAT235Y1/MAT237Y1
4. ECO227Y1/(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, APM462H1; CSC148H1, (CSC165H1, CSC236H1)/CSC240H1, CSC207H1, CSC260H1, CSC263H1, CSC336H1/CSC350H1, CSC340H1, CSC354H1,CSC363H1/CSC365H1, CSC373H1/CSC375H1, MAT315H1, MAT337H1; STA322H1, STA352Y1, STA414H1, STA422H1, 452H, STA457H1, 464H
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; GGR107Y1/110Y/GGR124Y1
Higher Years:
1. ECO200Y1/ECO206Y1, ECO202Y1/ECO208Y1, ECO333Y1; GGR220Y1
2. ECO220Y1/ECO227Y1/(STA250H1, STA255H1)/(STA257H1, STA261H1)
3. Two full courses from: GGR233Y1, GGR249H1, GGR252H1, GGR254H1, GGR256H1, GGR323H1, GGR324H1, GGR326H1, GGR331H1, GGR332H1, GGR333H1, GGR334H1, GGR343H1, GGR344H1,
GGR357H1, 436H, JGI346H1, other choices from 5. and 6. below
4. Two full courses from: ECO303Y1, ECO306Y1, ECO313H1, ECO321Y1, 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 (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/(STA257H1, STA261H1);
(MAT223H1/MAT240H1, 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. APM462H1; ECO325H1/ECO326H1
2. Two 300+series ECO courses
3. One course from: MAT309H1/MAT315H1/MAT334H1/MAT337H1/MAT344H1/MAT363H1/MAT464H1/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/ (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; POL 102Y/POL103Y1/POL105Y1/POL108Y1/POL214Y1
Higher Years:
1. POL200Y1
2. ECO200Y1/ECO206Y1, ECO202Y1/ECO208Y1, ECO220Y1/ECO227Y1/(STA250H1, STA255H1)/(STA257H1, STA261H1), ECO429Y1
3. ECO301Y/ECO302H1/ECO303Y1/ECO306Y1/ECO321Y1/ECO342Y1/ECO353Y1/354H/ 355H/ECO423H1/ECO435H1/ECO452H1/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: JPE400/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 SOC203Y1.
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/(STA250H1, STA255H1)/(STA257H1, STA261H1)
2. SOC200Y1, SOC203Y1, SOC387Y1, SOC389Y1, SOC401Y1
3. Two of the following pairs of courses: ECO321Y1 & SOC220Y1; ECO310Y1 & SOC317Y1; ECO333Y1 & SOC205Y1; ECO
339Y & SOC207Y1/SOC370Y1; ECO340H1 plus a second ECO half-course & SOC301Y1; ECO425H1 plus
a second ECO half-
course & SOC312Y1N
ote:
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/MAT240H1, MAT237Y1; ECO227Y1/(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 STA 348H/STA414H1/STA422H1/STA442H1
4. One additional half-course from ACT 335H/MAT244H1/MAT267H1/a 300+ series ECO or STA half-course
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