2007-2008 Faculty of Arts and Science Calendar

Economics

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Introduction

Economics is a social science that encompasses a broad 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.

Undergraduate Administrator: R. Innes

Commerce Assistant: J. Fan

Enquiries: 100 St. George Street, 4th floor (416-978-4603)

Economics Programs

Enrolment in Economics programs is based on grades in ECO100Y1, completion of MAT133Y1/MAT135Y1/MAT137Y1 and a minimum CGPA (please read entry requirements carefully). Consult the Registration Handbook & Timetable and Departmental Handbook for details.

Economic History & Economics (Arts program)

Enrolment in this program is limited to students with 67% in ECO100Y1 or 80% in ECO105Y1, MAT133Y1/MAT135Y1/MAT137Y1 and a CGPA of 2.0.

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 full Economic History courses from: 301Y, STA302H1, 303Y, 307H, 308H, 309H, 321Y, 342Y, 353Y, 354H, 355H, 423H, 429Y, 435H. Up to one HIS course may be taken to complete this requirement.

3. Four additional full ECO courses (not from above list)

Economic History (Arts program)

Enrolment in the Economic History Programs is limited to students with 67% in ECO100Y1 or 80% in ECO105Y1, MAT133Y1/MAT135Y1/MAT137Y1 and a CGPA of 2.0.

Major program

(6 full courses or their equivalent)

First Year:

ECO100Y1/ECO105Y1; MAT133Y1/MAT135Y1/MAT137Y1

Higher Years:

1. ECO200Y1/ECO206Y1

2. Three full Economic History courses from: 301Y, ECO302H1, ECO303Y1, ECO307H1, ECO308H1, ECO309H1, ECO321Y1, ECO342Y1, ECO353Y1, 354H, 355H, ECO423H1, ECO429Y1, ECO435H1

Minor program:

(4 full courses or their equivalent)

1. ECO100Y1/ECO105Y1; MAT133Y1/MAT135Y1/MAT137Y1

2. ECO200Y1/ECO206Y1

3. One full Economic History course from from: 301Y, ECO302H1, ECO303Y1, ECO307H1, ECO308H1, ECO309H1, ECO321Y1, ECO342Y1, ECO353Y1, 354H, 355H, ECO423H1, ECO429Y1, ECO435H1

NOTE: Students enrolled in the Minor Program in Economic History cannot be enrolled in the Minor Program in Economics or in the Minor Program in Environmental Economics.

Economics (Arts program)

Specialist program:

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

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, and a CGPA of 2.3.

First Year:

ECO100Y1; MAT133Y1/MAT135Y1/MAT137Y1

Higher Years:

1. ECO206Y1, ECO208Y1, ECO227Y1/(STA257H1, STA261H1), ECO325H1, ECO326H1, ECO327Y1, ECO429Y1

2. One full course in Economic History from the following: 301Y, ECO302H1, ECO303Y1, ECO307H1, ECO308H1, ECO309H1, ECO321Y1, ECO342Y1, ECO353Y1, 354H, 355H, ECO423H1, ECO435H1

3. Four full additional 300+ series ECO courses, no more than one of which may be a course in Economic history.

4. Additional preparation is strongly recommended: MAT223H1/MAT240H1, MAT235Y1/MAT237Y1/ECO210H1

Major program:

(7 full courses or their equivalent)

Enrolment in this program is limited to students with 67% in ECO100Y1 or 80% in ECO105Y1, MAT133Y1/MAT135Y1/MAT137Y1 and a CGPA of 2.0.

First Year:

ECO100Y1/ECO105Y1; MAT133Y1/MAT135Y1/MAT137Y1

Higher Years:

1. ECO200Y1/ECO204Y1/ECO206Y1, ECO202Y1/ECO208Y1/ECO209Y1, ECO220Y1/ECO227Y1/(STA250H1, STA255H1)/(STA257H1, STA261H1)

2. Two full 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 this program is limited to students with 67% in ECO100Y1 or 80% in ECO105Y1, MAT133Y1/MAT135Y1/MAT137Y1 and a CGPA of 2.0.

1. ECO100Y1/ECO105Y1; MAT133Y1/MAT135Y1/MAT137Y1

2. ECO200Y1/ECO206Y1

3. One full 300+ series ECO course, not in Economic History.

NOTE: Students enrolled in the Minor Program in Economics cannot be enrolled in the Minor Program in Economic History or in the Minor Program in Environmental Economics.

Economics (Commerce & Finance) (B.Com.) - See Commerce

Environmental Economics - See Centre for Environment

Economics (Quantitative Methods) (Science program)

Enrolment in this program is limited to students with 70% in ECO100Y1, and 55% in MAT137Y1, and a CGPA of 2.3.

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 full course from Group A and two full 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, 340H, CSC354H1, CSC363H1/CSC365H1, CSC373H1/CSC375H1, MAT315H1, MAT337H1; STA322H1, STA352Y1, STA414H1, STA422H1, STA447H1, 452H, STA457H1

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.

Financial Economics (Science program)

Specialist program:

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

Application to this program is limited to students with 70% in ECO100Y1/100Y5, 63% in MAT133Y1/133Y5 or 60% in MAT134Y5/MAT135Y1/135Y5 or 55% in MAT137Y1/138Y5, 63% in ECO206Y1/206Y5, 63% in ECO208Y1/208Y5, 63% in ECO227Y1/227Y5/(STA257H1,STA261H1)/(STA257H5,261H5), completion of at least 8.0 credits and a CGPA of 3.0. This is a limited enrolment program. Students enrolled in this program cannot simultaneously be enrolled in any other Economics specialist, joint specialist, major or minor program in Economics or in the Commerce and Finance program. This applies to both the St. George and University of Toronto Mississauga campuses.

NOTE – Some required courses may be offered only on the St. George or on the University of Toronto Mississauga campus in any given year. Students registered in this program at either campus may have to attend lectures on the other campus in such cases.

First Year:

ECO100Y1/100Y5, MAT132Y5/MAT133Y1/133Y5/134Y5/MAT135Y1/135Y5/MAT137Y1/138Y5

Higher Years:

1. ECO206Y1/206Y5

2. ECO208Y1/208Y5

3. ECO227Y1/227Y5/(STA257H1,STA261H1)/(257H5,258H5/261H5)

4. ECO325H1/325H5, ECO326H1/326H5

5. ECO327Y1*/327Y5*

6. ECO358H1/358H5, ECO359H1/359H5

7. 5 additional 300+ ECO credits or their equivalent, of which at least 1.5 must be chosen from ECO329H1/349H5, ECO460H5, ECO461H1/461H5, ECO462H1, ECO463H5

* MAT222H5/MAT223H1/248Y5 is strongly recommended as preparation for ECO327Y1/327Y5. Students taking one of these MAT courses can have that course count in lieu of one half or a full 300+ ECO credit required 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 67% in ECO100Y1 or 80% in ECO105Y1, MAT133Y1/MAT135Y1/MAT137Y1 and a CGPA of 2.0.

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. 2.5 courses from: GGR233Y1, GGR249H1, GGR252H1, GGR254H1, GGR256H1, GGR323H1, GGR324H1, GGR331H1, GGR332H1, GGR333H1, GGR334H1, GGR344H1, GGR357H1, 436H, JGI346H1, other choices from 5. and 6. below

4. Two full courses from: ECO303Y1, ECO309H1, ECO313H1, ECO314H1, ECO321Y1, ECO336Y1, ECO340H1, ECO342Y1, ECO423H1, ECO425H1, ECO435H1

5. One of GGR271H1, GGR273H1, GGR371H1, GGR373H1, GGR462H1, GGR473H1

6. GGR491Y1/two of GGR415H1, GGR431H1, GGR450H1, GGR459H1, GGR499H1, JFG470H1

7. One additional full ECO/GGR course if ECO220Y1/ECO227Y1 is chosen, or two full courses 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, 55% in MAT137Y1 and a CGPA of 2.3.

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, MAT246H1)/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 full 300+series ECO courses

3. One full 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 67% in ECO100Y1 or 80% in ECO105Y1, MAT133Y1/MAT135Y1/MAT137Y1 and a CGPA of 2.0.

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 full ECO courses

3. Seven full 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 at the 300+ level.

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 67% in ECO100Y1 or 80% in ECO105Y1, MAT133Y1/MAT135Y1/MAT137Y1 and a CGPA of 2.0. Students must also meet 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; POL103Y1/POL105Y1/POL108Y1/POL214Y1

Higher Years:

1. POL200Y1

2. ECO200Y1/ECO206Y1, ECO202Y1/ECO208Y1, ECO220Y1/ECO227Y1/(STA250H1, STA255H1)/(STA257H1, STA261H1), ECO429Y1

3. ECO301Y/ECO302H1/ECO303Y1/ECO307H1/ECO308H1/ECO309H1/ECO321Y1/ECO342Y1/ECO353Y1/354H/ 355H/ECO423H1/ECO435H1

4. One additional full 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 equivalent from: POL 401, 408, 409, 418, 435, 439, 447, 458, 463, 472, 474, 475, 476, 477, 488, 489, JPF 455, JPJ 494

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 67% in ECO100Y1 or 80% in ECO105Y1, MAT133Y1/MAT135Y1/MAT137Y1 and a CGPA of 2.0. Students must have 65% in SOC101Y1, and 70% in each of SOC200H1, SOC202H1, SOC203Y1, and SOC204H1. Students must also 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/SOC300H1/(STA250H1, STA255H1)/(STA257H1, STA261H1)

2. SOC200H1, SOC202H1, SOC203Y1, SOC204H1, SOC376H1, SOC377H1, SOC387H1, 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