Economics I
How will new international trade agreements affect jobs and wealth? Does cutting business taxes help spur growth? What is the optimal price to charge for a specific product? How are professional athletes’ salaries determined? Why do individuals make poor health choices, even when they know better?
Examining these important questions are part of studying Economics at McMaster University. After all, economics is the science of choice. McMaster’s Economics program is one of the best in Canada. Current faculty members lead and take part in international research programs.
Economics graduates are in demand
The analytical and decision-making skills learned apply to a wide range of employment opportunities. Honours degree options include combined majors in mathematics or computer science. Alumni have successful careers in many areas. Some examples include law, finance, politics, business and academics. Our Alumnus, Dr. Myron Scholes, was the 1997 Nobel Prize winner in Economic Sciences.
See the story behind the numbers.
This program provides direct entry into the Faculty of Social Sciences’ highly respected Economics program. Economics students become adept at analyzing problems faced by all sectors. You will develop sophisticated problem-solving, numeracy, research, communication and decision-making skills. These skills are critical for career success now and in the future for jobs that do not yet exist.
Outside of the core Economics I requirements, you’ll be able to explore other subjects in the Social Sciences and beyond. During Level I, you can take six – nine units of Social Sciences and 12 units of electives.
At the end of your first year, pick your Economics pathway. Choose programs such as:
- Honours Economics
- Honours Economics and Mathematics
- Honours Economics and Computer Sciences
- Honours Economics Specialist Option which provides extra preparation for graduate school.
You can also tailor a unique Combined Honours and include a minor too!
General admission requirements for Economics I:
- English
- Advanced Functions U and Calculus and Vectors U
- 80% to 83% or higher
- MLE OUAC application code
- Target enrolment = 125 students
Structure of Economics I
Economics Degree Options
Enrol directly in Economics I. Entrance requirements to this program for Ontario Students: English and two mathematics courses from Advanced Functions U and Calculus and Vectors U.*
At the end of first year, students who meet the requirements outlined below can pursue one of the following degree options in Economics:
- Honours BA
Level I Grade Point Average of 5.0 (C) including an average of at least 5.0 (C) in ECON 1B03, 1BA3 and ECON 1ME3. - Honours BA Specialist
Level I Grade Point Average of 5.0 (C) including an average of at least 5.0 (C) in ECON 1B03, 1BA3 and ECON 1ME3. - Combined Honours BA in Economics & Another Subject
Level I Grade Point Average of 5.0 (C) including an average of at least 5.0 (C) in ECON 1B03, 1BA3 and ECON 1ME. Satisfaction of admission requirements for the Honours program in the other B.A. subject. - Combined Honours BA in Economics & Computer Science
Level I Grade Point Average of 5.0 (C), including an average of 5.0 (C) in ECON 1B03, 1BA3 and ECON 1ME, and a weighted average of at least 5.0 (C) in ECON 1B03, 1BA3, COMPSCI 1JC3 and COMPSCJ 1MD3; MATH 1A03, 1AA3 and 1B03. - Combined Honours BA in Economics & Mathematics
Level I Grade Point Average of 5.0 (C) including MATH 1A03 an average of 5.0 (C) in ECON 1B03, 1BA3 and ECON 1ME and a grade of 6 (C+)in each of MATH 1AA3 and 1B03. - BA in Economics
Level I Grade Point Average of 3.5 including an average of at least 4.0 in one of ECON 1B03, 1BA3 and ECON 1ME.
* Please note that enrolment in these academic plans is limited, therefore possession of the published minimum requirements does not guarantee admission.
Minor
- Economics (requires 24 units)
Research Initiatives
Members of the Department of Economics participate in several major research initiatives at McMaster:
- The Centre for Health Economics and Policy Analysis (CHEPA).
- The McMaster Decision Science Laboratory (McDSL).
- The Secure Empirical Analysis Lab (SEAL).
- The Statistics Canada Research Data Centre (RDC).
Seminars
The Economics Department runs weekly seminars where visiting speakers, McMaster Faculty and graduate students share results of their research.
Electives
View a full list of Level I elective courses open to all students. Course offerings vary each year; please check Mosaic for current offerings.
Economics I Course Enrolment Guide
A guide to help with the enrolment process.
Create MyTimetable
Login to Mosaic, McMaster’s student information system, to build your timetable.
Timetable Worksheet
This example worksheet can be helpful when organizing your class schedule.
Economics Level I Brochure
Learn more about Economics I.
