Contact
Department of Economics
Kaneff Centre, Room 121
3359 Mississauga Road North
Mississauga, Ontario
Canada L5L 1C6

Phone: 905-828-5257
Fax: 905-569-4325
Office Hours

imageCourse Information

link to introduction

link to first year prep information and eco 100 grade

link to enrolment controls

link to prerequisite information information

link to frequently asked questions

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

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.

Owing to 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. In second year, students should enrol in ECO 206Y, ECO 208Y, and ECO 227Y. Also, the following three advanced courses are essential for students planning on pursuing graduate studies: ECO 325H, ECO 326H, and ECO 327Y.

First Year Preparation and ECO 100Y Grade

In First Year, students should enrol in ECO100Y and MAT133Y/134Y/135Y/137Y because enrolment in almost all ECO courses and programs is based on grades in ECO 100Y (and math in some cases). For instance, enrolment in the Economics Specialist program requires a grade of 70% in ECO 100Y and 63% in MAT 133Y (or 60% in MAT 134Y/135Y or 55% in MAT137Y) and a cumulative GPA of 2.3.  Enrolment in the Economics Major program requires a grade of 67% in ECO 100Y and CGPA of 2.0, or a grade of 63% in ECO 100Y and a cumulative GPA of 2.50.  Please refer to the program section for more information about requirements for specific programs, and changes to program enrolment procedures. Program enrolment takes place after the completion of at least 4.0 credits.

Students pursuing an Economics Major program require: ECO 200Y, ECO 202Y, and ECO 220Y. Admission to any of these courses requires that you meet one of the following criteria:

1. Achieve 67% in ECO 100Y

OR

2. Achieve 63% in ECO 100Y AND have a cumulative GPA of 2.50.

ECO100Y5Y Qualifying Exam

The Department of Economics has discontinued offering this examination. A student who successfully completes ECO100Y but does not meet either of the above criteria cannot enrol in second year ECO courses or in Economics or Commerce subject POSts (some programs and some courses require 70% in ECO100Y).  In this situation, a student may repeat ECO100Y as an "extra" non-credit course in order to achieve the necessary prerequisite for further study in Economics (this will not count toward the CGPA).

Note that students entering UTM in 2003 Summer or later no longer have the option of obtaining a "three-year degree" (15 credits). For those students, UTM is now only offering the following three degrees: Honours Bachelor of Arts, Honours Bachelor of Science, Bachelor of Commerce. This change will have no impact on students who entered UTM prior to 2003 Summer.

Enrolment Controls

A number of Economics courses will have enrolment controls during the first round of registration (date as posted in August). The enrolment indicator will be "P", where priority is given to students within certain specified subject POSts. After that date (second round of registration) all enrolment controls will be lifted and any student (irrespective of their subject POSt) will be eligible to enrol in any Economics course provided there is space available.

Pre-requisites

Pre-requisites are strictly enforced and must be met before registering in Economics courses. These pre-requisites are checked carefully by the Department and it is the student's responsibility to ensure that the proper pre-requisites have been met. Students may check with the Academic Economics Counsellor if they are unsure whether pre-requisites are met. In exceptional cases the course instructor may be consulted for permission to take a course. The best approach is to send a detailed email to the instructor indicating your academic background. If the instructor grants permission to take the course, then this must be forwarded to the Economics Counsellor. Failure to do so will result in your removal from the course even after classes have begun and there is no guarantee that you will be reinstated into the course. It may then be too late to enrol in another course, consequently an additional term or year may be necessary to meet degree requirements. It is your responsibility to ensure that the Economics Counsellor receives all required documentation.

Transfer Credits

Students wishing to use courses from other institutions for pre-requisite purposes and admitted to the University with transfer credits must show the Economics Counsellor an official transcript (from the previous academic institution) AND the transfer credit assessment (from the Faculty of Arts and Science). This must be done before registering for courses. Students will be removed from registered courses unless they provide documentation of pre-requisite courses completed from another academic institution. Students who do not have the relevant pre-requisites will be de-registered from those courses after classes have begun. It is your responsibility to ensure that the Economics Counsellor receives all required documentation.

Frequently Asked Questions

1.    I did not obtain a grade of 67% in ECO 100Y? What are my options now?

(a)    If your final grade was 63% or higher, then a cumulative GPA of 2.50 will be accepted for admission to all 200-level ECO courses except ECO 206Y, ECO 208Y, and ECO 227Y.

(b)    ECO 100Y may be repeated once, to obtain the necessary pre-requisite for further study in Economics. It will be designated as an "extra" course, and the grade will not be averaged into your GPA, but it will appear on your transcript. Your original grade (ie. the first time you took the course) will remain on your transcript, and will be included in your GPA.
 
2.    Which math course is required for Economics Programs?

The following courses are acceptable:

MAT 133Y/134Y/135Y/137Y/138Y (UTM)
MAT 133Y/MAT 135Y/MAT 137Y (St. George)
MAT 123H + 124H (St. George)
Students interested in the ECO Specialist should also take MAT 223H -- Linear Algebra.

3.    I managed to get 63% in ECO 100Y, 63% in MGT 120H and I passed my math course. My GPA was not high enough for Commerce. What should I do now?

Students in this very common situation enroll in the ECO Major in their second year, and take ECO 200Y, ECO 202Y, and ECO 220Y. The student then applies to Commerce again during the application period of that session. If the CGPA required for the Commerce program is reached then all ECO courses completed are applied to the Commerce Program. The student should remain enrolled in the Economics Major and add the Commerce and Finance Specialist program. Students requiring more information should consult the Commerce Academic Counsellor, Mary Wellman.

4.    I took STA 220H in first year.  I see that it is listed as an exclusion for ECO 220Y which is required in second year.  Do I still have to take ECO 220Y?

An exclusion is not necessarily an equivalent course.  Students who have taken STA 220H in first year can take ECO 220Y in second year, then STA 220H becomes designated as an "extra" course.  However, if both STA 220H and STA 221H were completed then students should take STA 257H (UTM) or STA 255H (St. George) to serve as the statistics pre-requisite for upper level ECO courses.  STA 220H + 221H alone may NOT be substituted for the Economics Statistics component required in any Economics program.

To summarize:

If you have already taken... Then you need to take...
STA 220H ECO 220Y
STA 220H + 221H STA 257H or STA 255H

If you need clarification on this, please see the Economics Counsellor.

5.    What happens if I have taken one of the courses listed as an exclusion for ECO 220Y and ECO 227Y?

In an Economics Specialist program, in lieu of ECO 227Y we will also accept STA 257H and STA 261H. In an Economics Major program, in lieu of ECO 220Y, we will also accept any of the following (note that all the courses in a particular line must have been taken):

1. STA 220H, 221H, 257H/255H
2. STA 250H, 257H
3. STA 257H, 261H

We will not accept any statistics course from BIO/PSY/SOC in an Economics program. If you have already taken a course from one of these disciplines that is an exclusion for ECO 220Y/227Y then you must take ECO 220Y or ECO 227Y as an "extra" course.

6 .    The Commerce and Finance Specialist and the Economics Major programs require 2.0 ECO courses at the 300 level.  Can these be any 300 level courses?

Students must do at least one 300 level course that has two of the following pre-requisites: ECO 200Y/206Y, ECO 202Y/208Y, ECO 220Y/227Y/(STA 250H, 257H)/(STA 257H, 261H).  This means no more than 1.0 may be a course in Economic History.

7.    I have completed a Major Program in Industrial Relations?  How may I further my education in this field?

Interested students may apply to the Masters Program in Industrial Relations on the St. George Campus.  More information about the Masters in IR can be obtained by visiting the Centre for Industrial Relations at 121 St. George Street, or by phoning (416) 978-0551.

8.     The International Affairs Program requires 4.0 language courses.  Which courses are available to a student in this program?

Students may also enrol in St. George language courses but this must first be approved by Professor Gordon Anderson, the Faculty Counsellor.  Four courses must be taken in the same discipline so that a certain level of fluency is reached by fourth year.  It is highly recommended that if the department offers a business course that this be one of the courses selected.

9.     I do not have the pre-requisite for an ECO course, can I still take that course?

Pre-requisites are strictly enforced!  You must have completed the prerequisite before taking a course.  In some cases you may consult the course instructor for permission to take the course. The best approach is to send a detailed email to the instructor indicating what your academic background is.  If the instructor gives you permission to take the course, then you must forward this in writing to the Economics Counsellor.  Failure to do so will result in your removal from the course even after classes have begun. There is no guarantee that you will be reinstated into the course. It is your responsibility to ensure that the Department receives all the required documentation.

Attention transfer students! Students admitted to the University with transfer credits must bring in their transfer credit assessment and transcript to the Economics Counsellor before registering for courses. You may be removed from registered courses unless you provide documentation of pre-requisite courses completed from another academic institution.

10.    Can I use ECO 205Y5 as a pre-requisite for any courses?

This particular course is restricted to students in the Management Programs and cannot be used as a pre-requisite for any further Economics courses.

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