Welcome to Carleton and your Bachelor of Economics degree program

First Year Course Selection Guide

Please read this degree guide prior to registering

Your Degree Program (B.Econ)

Economics may be a specialized area of knowledge, but it is relevant to almost every aspect of our lives. At its core, it is the study of reasoned choice in the context of scarce resources and competing interests. The need to make such choices pervades the day-to-day lives of all of us – as individuals and in society as a whole. Economics provides insight into important social issues such as health care, protecting the environment, reducing inequality, and optimal design of social programs and the tax system. Further, knowledge of economics is crucial in many business fields including banking and financial markets, labour relations and international trade.

The Bachelor of Economics (B.Econ) degree is a 20.0 credit, four-year Honours program. Students who wish to focus their studies may choose to complete either one or two of the eight available concentrations:

  • Computational Analysis
  • Development
  • Economic Data Science (*** New this year! See below. ***)
  • Economic Theory
    • Recommended for students who intend to purse graduate studies in Economics
  • Financial Economics
  • International Political Economy
  • Mathematics and Quantitative Economics
    • Recommended for students with excellent backgrounds in mathematics and who intend to pursue PhD studies in Economics at top programs in North America
  • Natural Resources, Environment, and Economy

The Department of Economics is very pleased this year to offer the new Concentration in Economic Data Science. The field of Data Science is a rapid-emerging and high-demand area of research and practice that has gained significant momentum in recent years as new technologies have allowed us to gather, store and process huge amounts of data (ie “Big Data”), and as well, gather data in non-traditional forms (such as user-generated data from websites). Data Science has found particular application in the hi-tech, retail and financial sectors, in addition to traditional governmental agencies. The field of Economics offers a unique perspective for Data Science, based on its development and application of Econometric tools and analysis to problems framed through the lens of Economic theory. We think the Concentration in Economic Data Science capitalizes on the momentum of the field to offer an undergraduate concentration to help our students meet the demands of the marketplace. While the Concentration in Economic Data Science includes foundation courses in computer coding and information technology, the overall emphasis is on providing students with training in general econometrics and the application of statistical and econometric methods to economic questions involving both traditional and non-traditional datasets using Economic theory as a guide. Students looking to gain additional computational training can take both the Concentration in Economic Data Science and the Concentration in Computational Analysis, the combination of which will provide students with a strong and broad set of skills for the marketplace.

 

B.Econ First Year: Core Course Requirements

B.Econ Students should take the following core courses in Year 1 (See “B.Econ First Year: Concentration-Specific Requirements” below for exceptions):

  • ECON 1001 Introduction to Economics: Microeconomics [0.5 credit]; fall term
  • ECON 1002 Introduction to Economics: Macroeconomics [0.5 credit]; winter term
  • MATH 1401 Elementary Mathematics for Economics I [0.5 credit]; fall term
  • MATH 1402 Elementary Mathematics for Economics II [0.5 credit]; winter term
  • Instead of MATH 1401 and MATH 1402 (as a pair), students may take MATH 1007 and MATH 1107 (as a pair). This substitution is strongly recommended for students with good high-school mathematics backgrounds—e.g., Ontario Grade 12 U Advanced Functions with a grade of 80% or higher.
  • To make up the regular 5.0 credit course load, students should then add electives, which should be highly varied.
    • Students taking ECON 1001 & 1002 should consider taking FYSM 1608 Selected Topics in Economics [1.0 credit].
    • In addition, students are advised to seriously consider taking COMP 1005 Introduction to Computer Science I [0.5 credit] and a 1000-level Political Science course.

B.Econ First Year: Concentration-Specific Requirements

B.Econ students including the Concentration in Financial Economics in their program must postpone taking BUSI 1001 Principles of Financial Accounting [0.5 credit] and BUSI 1002 Management Accounting [0.5 credit] until Year 2.

B.Econ students including the Concentration in Computational Analysis and/or the Concentration in Economic Data Science in their programs, should follow the guidelines given above and be sure to take COMP 1005 Introduction to Computer Science I [0.5 credit] as an additional core course in Year 1.

B.Econ students including the Concentration in Mathematics and Quantitative Economics in their programs, should take the following core courses in Year 1:

  • ECON 1001 Introduction to Economics: Microeconomics [0.5 credit]
  • ECON 1002 Introduction to Economics: Macroeconomics [0.5 credit]
  • MATH 1052 Calculus and Introductory Analysis I [0.5 credit]; fall term
  • MATH 1152 Introductory Algebra I [0.5 credit]; fall term
  • MATH 1800 Introduction to Mathematical Reasoning [0.5 credit]; fall term
  • MATH 2052 Calculus and Introductory Analysis II [0.5 credit]; winter term
  • MATH 2152 Introductory Algebra II [0.5 credit]; winter term
  • To make up the regular 5.0 credit course load, students should then add electives, which should be highly varied.
    • Students taking ECON 1001 & 1002 should consider taking FYSM 1608 Selected Topics in Economics [1.0 credit].
    • In addition, students are advised to seriously consider taking COMP 1005 Introduction to Computer Science I [0.5 credit] and a 1000-level Political Science course.
  • Students may replace the honours sequence courses MATH 1052 [0.5], MATH 1152 [0.5], MATH 2052 [0.5] and MATH 2152 [0.5], with non-honours sequence courses MATH 1007 [0.5], MATH 1107 [0.5], MATH 2007 [0.5] and MATH 2107 [0.5] respectively (under this scenario, students may take MATH 1007 [0.5], MATH 1107 [0.5] and MATH 1800 [0.5] in Year 1, and MATH 2007 [0.5] and MATH 2107 [0.5] in Year 2). Please be aware however that this substitution will considerably impact which future MATH courses a student can take as part of the Concentration in Mathematics and Quantitative Economics. The honours sequence courses are important prerequisites for courses such as MATH 2000 Multivariable Calculus and Fundamentals of Analysis [1.0] and MATH 3001 Real Analysis [0.5], courses which are an asset for students planning on eventually applying to top PhD programs in Economics in North America. In general, the honours-based MATH courses (such as MATH 1052 [0.5]  and MATH 1152 [0.5]) are more abstract, rigorous and proof-based than either the non-honours MATH courses (such as MATH 1007 [0.5]  and MATH 1107 [0.5]) or the Economics-specific MATH courses (MATH 1401 [0.5]  and MATH 1402 [0.5]).

First-Year Seminar

First-year B.Econ students are encouraged to include First-Year Seminar 1608 (FYSM 1608 [1.0]) in their first-year course load. First-year seminars will get you away from the lecture hall and give you the chance, in a small class setting, to discuss and debate topics with your classmates and professors. You will also receive early and frequent feedback on class assignments and instruction in research, writing, and study skills. See carleton.ca/first-year-seminars/ for a complete listing and description of the First-year seminars being offered.

New this year!

The Department of Economics is offering two new items for the fall 2020 term. Students have the option of completing the first year of their Bachelor of Economics degree online. More information is available in the attached poster (PDF) or via the Department of Economics website.

The department is also offering a new course entitled Economics of Pandemics – please note that although this is an advanced level course, students with first-year standing and no prior coursework in economics are permitted to register for this course.

Contact

Please do not hesitate to contact the Department of Economics should you have any questions regarding your registration such as concentration suitability or course selection and scheduling.

Phone number: 613-520-3744
Email: economics@carleton.ca
Location: Room C-870, Loeb Building

Office Hours: 8:30 a.m. to 4:30 p.m., Monday through Friday

Website: carleton.ca/economics/

Additional program information: https://carleton.ca/economics/undergraduate-studies/b-econ-honours

Your Degree, Your Future

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