Overview of Economics Programs

This page provides an informal overview of the various programs offered by the Economics department. Detailed descriptions of the relevant courses and program requirements are available in the calendar.

Economics Major

This is the core program in Economics. It is the most flexible program, and can be tailored to meet the academic needs of students with a variety of long-term goals. Like Economics programs everywhere, it is built on a foundation of:

1. First-year Principles of Economics ((ECO101H1 + ECO102H1) / ECO100Y1), and first-year mathematics (e.g., MAT133Y1, MAT135H1+MAT136H1, MAT137Y1 );
2. Intermediate-level courses in Microeconomics (ECO200Y1, ECO204Y1, or ECO206Y1), Macroeconomics (ECO202Y1, ECO209Y1, or ECO208Y1), and Econometrics (Statistics, ECO220Y1 or ECO227Y1);
3. Electives at the 300 and 400-level.

Note: Students contemplating graduate studies in Economics can readily choose appropriate courses within the Economics Major, without doing a specialist. In particular, they are advised to select ECO206Y1, ECO208Y1, and the advanced "methods" courses: ECO325H1, ECO326H1, and ECO375H1. It is also a good idea for such students to take math beyond MAT133Y1 (i.e., ECO210H1, and/or a linear algebra course like MAT221H1 or MAT223H1).

Focus in Data Analytics (Major)

Starting 2020-2021, students will be able to add the Focus in Data Analytics to the Major. The focus ensures that students gain proficiency in applied empirical economics. It provides students with hands-on exposure to the tools empirical economists use to build and analyze datasets - programming languages such as Python, and software programs to manage, statistically analyze, and visualize data such as Excel, GIS, Stata and R. The focus will also direct students to empirical economics courses that apply these tools in a wide variety of contexts. In addition to the required 1st and 2nd year courses for the Economics Major, the focus requires students to complete:

1. CSC108H1/CSC148H1
2. ECO225H1/GGR272H1

and the 300- and 400-level elective courses need to focus on data applications:

3. ECO372H1
4. 1.0 FCE 300+ ECO elective courses from: ECO310H1, ECO324H1, ECO334H1, ECO336H1, ECO337H1, ECO339H1, ECO340H1, ECO374H1, ECO375H1
5. At least 0.5 FCE 400-level ECO course from: ECO401H1, ECO403H1, ECO404H1, ECO418H1, ECO439H1, ECO446H1, ECO464H1, ECO466H1, ECO475H1, ECO499H1

Please see the Focus in Data Analytics (Major) Typical Pathway handout for highlights and refer to the Calendar for details.

Economics Specialist

This program is aimed primarily at students planning further studies in Economics. It has the same basic structure as the Economics Major, but the required courses beyond first-year are from the more mathematical stream (i.e., ECO206Y1 and ECO208Y1). In addition to more electives, Economics Specialists must also take the full suite of advanced methods courses (macro, micro, and econometrics: ECO325H1, ECO326H1, and ECO375H1).

Focus in Data Analytics (Specialist)

Starting 2020-2021, students will be able to add the Focus in Data Analytics to the specialist. Students in the Economics Specialist program who undertake a Focus in Data Analytics will gain advanced ability in applied empirical economics. The Focus (for specialists) provides students with hands-on exposure to the tools empirical economists use to build and analyze datasets - programming languages such as Python, and software programs to manage, statistically analyze, and visualize data such as Excel, GIS, Stata and R. The Specialist Focus will also direct students to required and elective empirical economics courses that apply these tools in a wide variety of contexts

In addition to the required courses for the Economics Specialist, the focus requires students to complete:

1. CSC108H1/CSC148H1
2. ECO225H1/GGR272H1

and the 300- and 400-level elective courses need to focus on data applications:
3. ECO372H1
4. ECO374H1
5. ECO475H1
6. 2.0 FCE 300+ ECO elective courses from: ECO310H1, ECO324H1, ECO334H1, ECO336H1, ECO337H1, ECO339H1, ECO340H1 (or the 400-level courses listed below (#7)
7. 0.5 FCE 400-level ECO course from: ECO401H1, ECO403H1, ECO404H1, ECO418H1, ECO439H1, ECO446H1, ECO464H1, ECO466H1, ECO499H1

Please see the Focus in Data Analytics (Specialist) Typical Pathway handout for highlights and refer to the Calendar for details.

Financial Economics Specialist

This limited-entry program is intended for students planning careers in finance, especially careers with a more technical/analytic focus. It is also an excellent program for students considering graduate studies in Economics or Financial Economics. It is structured similar to the Economics Specialist, but with more requirements in Financial Economics (i.e., ECO358H1 and ECO359H1).

Economics & Mathematics Specialist

This rigorous and technical joint-specialist program combines the specialist-oriented courses from Economics and Mathematics, and provides excellent background for graduate studies in Economics, Finance, or other quantitative careers. In return for mathematical rigour and depth, it sacrifices some of the breadth available in the other two Economics specialist programs. Students wanting more flexibility might wish to consider a double-Major in Economics and Mathematics.

Summary of Program Entry Requirements

The following provides an overview of available Economics programs and the first year Economics and Mathematics courses required for program admission.

NB: This information is for advisory purposes only. While every attempt is made to be accurate, in case of discrepancy, the rules listed in the calendar apply.

• All students who meet the minimum grades listed here will be able to enrol in the Economics Minor, Environmental Economics Minor, Economics Major, Economics Specialist, and Economics & Mathematics Specialist programs;
• Entry to the Financial Economics Specialist is by application in second year: enrolment is limted. Students must meet the minimum grades listed here in order to be considered. Students accepted into this program typically have grades well above these minimums.
• Application for enrolment in the Economics Specialist, and Economics & Mathematics Specialist programs are also made in second year, with eligibility determined by grades in key second-year economics courses (and MAT137Y1 for the Economics & Mathematics Specialist). Students must meet minimum performance levels in (ECO101H1 + ECO102H1) / ECO100Y1 and first year mathematics in order to meet the prerequisite conditions for specialist-level intermediate courses (e.g., ECO206Y1, ECO208Y1). Students planning on pursuing a specialist program are encouraged to enrol as ECO Majors for their second year.

MINOR Programs	ECO Requirement	MAT Requirement
Economics	(ECO101H(63%) + ECO102H(63%)) / ECO100Y(67%) / ECO105Y(80%)	MAT133Y(63%) / (MAT135H(60%) + MAT136H(60%)) / MAT137Y(55%)
Environmental Economics	(ECO101H(63%) + ECO102H(63%)) / ECO100Y(67%) / ECO105Y(80%)	MAT133Y(63%) / (MAT135H(60%) + MAT136H(60%)) / MAT137Y(55%) / MAT157Y(55%)

MAJOR Program	ECO Requirement	MAT Requirement
Economics ( including the Focus in Data Analytics )	(ECO101H(63%) + ECO102H(63%)) / ECO100Y(67%) / ECO105Y(80%)	MAT133Y(63%) / (MAT135H(60%) + MAT136H(60%)) / MAT137Y(55%) / MAT157Y(55%)

SPECIALIST Programs	ECO Requirement	MAT Requirement
Economics ( including the Focus in Data Analytics )	(ECO101H(70%) + ECO102H(70%)) / ECO100Y(70%), ECO206Y(70%), ECO208Y(70%), ECO220Y(70%) / ECO227Y(70%)/ (STA257H(70%) + STA261H(70%))	(MAT135H(60%) & MAT136H(60%)) / MAT137Y(55%) / MAT157Y(55%)
Financial Economics	(ECO101H(70%) + ECO102H(70%)) / ECO100Y(70%), ECO206Y(80%), ECO208Y(80%), ECO227Y(80%)/ (STA257H(80%) + STA261H(80%))	(MAT135H(60%) & MAT136H(60%)) / MAT137Y(55%) / MAT157Y(55%)
Economics and Mathematics	(ECO101H(70%) + ECO102H(70%)) / ECO100Y(70%), ECO206Y(70%), ECO208Y(70%), ECO220Y(70%) / ECO227Y(70%)/ (STA257H(70%) + STA261H(70%))	MAT137Y(60%) / MAT157Y(60%)

Notes:

• While students contemplating an Economics or Financial Economics Specialist Program are expected to complete MAT135H1 + MAT136H1, students with outstanding performance in MAT133Y1 and (ECO101H1+ ECO102H1) / ECO100Y1 may also be considered for admission to these programs. In any event, enrolment is determined primarily by grades in the second-year courses.
• For the Economics and Mathematics Specialist program, students must have MAT137Y1 or higher: Neither MAT133Y1 nor MAT135H1+MAT136H1 will be considered for this program.
• As a reminder, the Economics Department is very strict about prerequisites and minimum grade requirements: waivers will not be granted for students who do not meet the minimum requirements in their prerequisite courses.