Economics, the scientific study of how societies use scarce resources to produce and distribute commodities, is a versatile and flexible discipline. The Department has a strong focus on teaching and applied research. Students graduate with problem-solving skills needed to analyze how individuals (microeconomics) and governments (macroeconomics) can efficiently achieve their objectives, given their constraints. Economics students are trained how to evaluate and predict economic relationships. The discipline draws on and collaborates with the sciences (fisheries, health, environment, petroleum) and other disciplines (business, sociology, history, epidemiology, geography, political science, statistics and mathematics) to deal with a variety of topics, including economic growth, monetary policy, fair taxation, regional and municipal economic development, natural resource economics, and the economics of environmental impacts.

The following programs are available in the Department:

1. Major in Economics (B.A. or B.Sc.)

2. Honours in Economics (B.A. or B.Sc.)

3. Honours in Economics (Co-operative) (B.A. or B.Sc.)

4. Minor in Economics

5. Joint Major in Economics (B.A. only)

6. Joint Programs (B.Sc. only)

7. Joint Program (Co-operative) (B.Sc. only)

8. Major in Economics (Co-operative) (B.A. or B.Sc.)

Economics course descriptions are found at the end of the Faculty of Humanities and Social Sciences section under Course Descriptions, Economics and are designated by ECON.

The Bachelor of Arts requires the successful completion of a minimum of 120 credit hours. A student must meet the requirements for a departmental Major, Minor, or Honours program and also meet the Program Regulations – General and Honours Degrees for the Faculty of Humanities and Social Sciences. A student is therefore advised to consult with the Admission to the Bachelor of Arts General Degree Programs regulations, the Program Regulations - General and Honours Degrees which also includes the Bachelor of Arts General Degree Components, The Major Program, and The Minor Program regulations. Information regarding honours programs is available at Bachelor of Arts (Honours) Degree Regulations as well as under each department’s regulations.

A student is strongly encouraged to consult with an academic advisor to discuss available programs and requirements in the Faculty of Humanities and Social Sciences including the Core Requirements, The Major Program, The Minor Program, and the Bachelor of Arts (Honours) Degree Regulations. A student is advised to declare a program of study, including a Major and a Minor, before completing the first 45 credit hours of study. Information about declaring a Major and Minor in the Faculty of Humanities and Social Sciences is available at www.mun.ca/hss/programs/undergraduate/ideclare.php. Information regarding advisors for the Faculty of Humanities and Social Sciences is available at www.mun.ca/hss/about/contact/liaisons.php.

A student is normally admitted to the B.Sc. Program upon successful completion of 30 credit hours which must include:

1. 6 credit hours in Critical Reading and Writing (CRW) courses, including at least 3 credit hours in English courses; and

2. 6 credit hours in Mathematics courses.

1. A student may major in Economics as part of either a B.A. or a B.Sc. program. See the Regulations for the General Degree of Bachelor of Arts and the Faculty of Science, Degree Regulations for the General Degree of Bachelor of Science, as appropriate.

2. A student shall consult with the Head of the Department or delegate when choosing courses for a Major in Economics.

3. Mathematics 1000 is the prerequisite for Economics 3000, 3010, and 3550.

4. A Bachelor of Arts student who undertakes a Major in Economics shall successfully complete Mathematics 1000, Statistics 2500, and at least 39 credit hours in courses in Economics of which:

   1. 1010 (or the former 2010), 1020 (or the former 2020), 2550, 3000, 3001, 3010, 3550 and 4550 are obligatory.

   2. An additional 15 credit hours shall be chosen from among the various Economics courses, at the 3000-level or above, in consultation with the Head of the Department or delegate, and will include at least 6 credit hours in courses at the 4000-level.

   3. A student may, with the approval of the Head of the Department or delegate, substitute Statistics 2550 for Statistics 2500.

5. A Bachelor of Arts student majoring in Economics shall complete a minor of 24 credit hours in one other approved subject, or a second Major in accordance with Regulations for the General Degree of Bachelor of Arts. It is recommended that the Minor or second Major be chosen from the following subjects: Business, Mathematics, Political Science, Statistics, Computer Science, History, Geography, Philosophy, Sociology, or Anthropology.

6. A Bachelor of Science student who undertakes a Major in Economics shall complete at least 42 credit hours in courses in Economics of which:

   1. Economics 1010 (or the former 2010), 1020 (or the former 2020), 2550, 3000, 3001, 3010, 3550 and 4550 are obligatory.

   2. Economics 3551 or 4551 must be successfully completed.

   3. An additional 15 credit hours shall be chosen from among the various Economics courses, at the 3000-level or above, in consultation with the Head of the Department or delegate, and will include at least 6 credit hours in courses at the 4000-level.

7. A Bachelor of Science student must successfully complete credits from other Science disciplines as follows:

   1. Mathematics 1000, 1001, and 2050.

   2. Statistics 2550 or 2500, and an additional 3 credit hours of Statistics.

   3. Computer Science 1000, and an additional 3 credit hours of Computer Science. With the approval of the Head of the Department or delegate, students may substitute another 1000-level Computer Science course for Computer Science 1000.

   4. At least 3 credit hours in an additional science subject other than Mathematics/Statistics, Economics, and Computer Science.

1. See the General Regulations for the B.A. (Honours) Degree and the Faculty of Science, Degree Regulations for the Honours Degree of Bachelor of Science.

2. A student shall consult with the Head of the Department or delegate when choosing courses for an Honours program.

3. A student shall successfully complete all non-Economics courses required of B.A. or B.Sc. Majors, and at least 60 credit hours in courses in Economics, including 1010 (or the former 2010), 1020 (or the former 2020), 2550, and at least 36 credit hours at the 3000-level or above including 3000, 3001, 3010, 3011, 3550, 3551, 4550 and 4551.

4. Twenty-four credit hours in electives in Economics shall be chosen in consultation with the Head of the Department or delegate, including at least 9 credit hours in courses at the 4000-level. In addition, all Economics Honours students are required to write an essay.

1. Twelve required credit hours: Economics 1010 (or the former 2010), 1020 (or the former 2020), 3000, 3010.

2. Twelve credit hours in Economics electives of which 3 credit hours must be at the 4000-level. The 12 credit hours shall be chosen in consultation with the Head of the Department or Delegate.

3. Course prerequisites stipulated in the General Degree regulations and in the course descriptions shall apply to a Minor in Economics.

As an alternative to a minor in the B.A., a student may choose to complete a major in Economics and a major in another eligible program in the Faculty of Humanities and Social Sciences. The Joint Major Program requires 3 fewer credit hours in each participating major as prescribed in each program’s Calendar entry. For the joint major in Economics, 3 fewer credit hours shall be required to fulfill clause 4.b. of the Major in Economics above.

Programs for Joint Majors in Economics and Computer Science, Pure Mathematics, Applied Mathematics or Statistics, and a Joint Major in Statistics and Economics (Co-operative) are found under the heading Faculty of Science, Joint Program Regulations in the entry for the Faculty of Science.

A student who wishes to take a Joint Major in Economics and Computer Science, Mathematics or Statistics must arrange a program in consultation with the heads of the respective departments and comply with the General Regulations for the Majors Degrees.

www.mun.ca/coop

The Major in Economics (Co-operative) allows Economics students to apply their skills in a variety of settings including government, education, and the non-profit and private sectors. The program is available to full-time Economics major students only.

The Major in Economics (Co-operative) can be taken as a major in either of the following degrees: the Bachelor of Arts, Bachelor of Arts (Honours), Bachelor of Science and Bachelor of Science (Honours). The program is administered by the designated Academic Staff Member in Co-operative Education (ASM-CE) for the Faculty of Humanities and Social Sciences. With the help of the ASM-CE and the Department of Economics, participating students may seek work term opportunities within the Province, within Canada, and internationally.

Students who participate in the Economics (Co-operative) must meet the requirements listed under the Regulations for the General Degree of Bachelor of Arts and Regulations for the General Degree of Bachelor of Science. In addition, the Economics (Co-operative) requires three work term courses as described in Course Descriptions, Work Terms.

1. Admission to the Economics (Co-operative) is limited and selective.

2. A student should note that it is possible to apply to enter the Economics (Co-operative) only in the Fall semester of each academic year. Economics (Co-operative) application forms, and the application deadline, are available at the Department of Economics website.

3. The primary criterion used in reaching decisions on applications for admission is overall academic achievement. A student with weak overall academic records is unlikely to be admitted. An applicant may be asked to attend an interview.

4. To be eligible for admission to Economics (Co-operative) an applicant must have successfully completed a minimum of 30 credit hours with an overall average of at least 65%, including the following: Economics 1010 (or the former 2010) and 1020 (or the former 2020); at least 6 credit hours in English (English 1110 is recommended); Mathematics 1000; and 15 credit hours chosen from courses in the disciplines of Humanities, Social Sciences, Business, or Science. It is advised that students choose courses which can satisfy the Core Requirements as outlined in the Bachelor of Arts General Degree Components or the Regulations for the General Degree of Bachelor of Science, as relevant, including courses in a second language. Bachelor of Science applicants must have completed Mathematics 1001 at the time of application to the program.

5. A student who have already completed more than the 30 credit hours that are required for admission to the program may apply for entry into the program with Advanced Standing. Students with Advanced Standing will be placed in a semester of the program judged to be appropriate considering the number of credit hours remaining.

6. Transfer students from other universities will be placed in a semester of the program judged to be appropriate considering equivalent credits, as determined by the Department and the designated ASM-CE.

1. A Bachelor of Arts student who undertakes a Major in Economics (Co-operative) shall complete Economics 299W, 399W, and 499W and an additional 45 credit hours as follows:

   1. Economics 1010 (or the former 2010), 1020 (or the former 2020), 2550, 3000, 3001, 3010, 3011, 3550, 4120, 4550, and 4551;

   2. An additional 6 credit hours in Economics at the 3000 or 4000 level;

   3. Mathematics 1000; and

   4. Statistics 2500. Students may, with the approval of the Head of the Department or delegate, substitute Statistics 2550 for 2500.

2. A Bachelor of Science student who undertakes a Major in Economics (Co-operative) shall complete 66 credit hours as follows:

   1. Economics 1010 (or the former 2010), 1020 (or the former 2020), 2550, 3000, 3001, 3010, 3011, 3550, 4120, 4550, and 4551;

   2. An additional 9 credit hours in Economics at the 3000 or 4000 level;

   3. Economics 299W, 399W, and 499W;

   4. Mathematics 1000, 1001, and 2050;

   5. Statistics 2550 or 2500, and an additional 3 credit hours of Statistics;

   6. Computer Science 1000, and an additional 3 credit hours of Computer Science. With the approval of the Head of the Department or delegate, students may substitute another 1000-level Computer Science course for Computer Science 1000; and

   7. At least 3 credit hours in an additional science subject other than Mathematics/Statistics, Economics, and Computer Science.

3. A student should refer to Suggested Course Progression for Bachelor of Arts Major in Economics (Co-operative) or Suggested Course Progression for Bachelor of Science Major in Economics (Co-operative).

4. Promotion from each semester requires a passing grade in all courses specified in clauses 1. or 2. above as relevant and a cumulative average of at least 65% in all courses. A student who fails a required course, fails to maintain the required cumulative average, or does not maintain full-time status will not be promoted to the next semester and will be required to withdraw from the program.

5. University Regulations (Undergraduate), Classification of Students notwithstanding, students will require special permission to register for courses while on work terms if the courses are in addition to the prescribed program. Normally, work terms are considered equivalent to a full-time course load with no time for additional course work.

1. A student is ultimately responsible for securing work term placements. ASMs-CE provide support for the job search and inform students of potential opportunities.

2. A student who applies for admission to the Bachelor of Arts, Economics (Co-operative) degree program gives permission to the University to provide a copy of the student's resume, and university transcript to potential employers.

3. A student who is enrolled in a Co-operative Education program may independently obtain a work term placement, in consultation with the ASM-CE. Such employment positions must satisfy the criteria for work terms, be confirmed in writing by the employer, and be approved by the ASM-CE before the first day of the work term according to the Co-operative Education website.

4. Co-operative students are required to complete professional development seminars offered by the designated ASM-CE.

5. Work terms are normally 12-16 weeks in duration, full-time and paid. Remuneration for work placements is determined by employers based on their internal wage structures. The start and end dates for each work term are shown on the Co-operative Education website.

6. A student must complete the program on an academic semester. A student wishing to change the sequence of the work terms must first consult with the designated ASM-CE and receive written approval from the Head of the Department or delegate.

1. In Work Terms I, II, and III, a student must register for Economics 299W, 399W, and 499W, respectively.

2. The Work Term evaluations shall consist of two components:

   1. On-the-job Student Performance: Will be assessed by the ASM-CE using information gathered during the Work Term and input from the employer towards the end of the Work Term. Evaluation of the job performance will result in one of the following classifications: OUTSTANDING, ABOVE EXPECTATIONS, SATISFACTORY, MARGINAL PASS, FAIL.

   2. Work Term Assignment(s): One or more work term assignment(s) as outlined in the course syllabus. Evaluation of the Work Term assignment(s) will result in one of the following classifications: OUTSTANDING, ABOVE EXPECTATIONS, SATISFACTORY, MARGINAL PASS, FAIL.

   The evaluation of the on-the-job performance and the work term assignment(s) are recorded separately on the transcript for each work term.

   Overall evaluation of the work term will result in one of the following final grades being awarded:

   • Pass with Distinction (PWD): To receive a PWD, a student must obtain an evaluation of Outstanding in both the communications and work performance components of the work term.

   • Pass (PAS): To receive a PAS, a student must achieve an evaluation of Marginal Pass or better in the communications component and in the performance component of the work term.

   • Fail (FAL): A student receiving a Fail in either the communications or performance component of the work term will receive a FAL. For promotion from the work term, a student must obtain PWD or PAS.

   Students should also refer to the University Regulations (Undergraduate), General Academic Regulations (Undergraduate). The grades awarded for each work term will be noted on the transcript.

3. A student will not be eligible to continue in the program if the student withdraws from a Work Term subsequent to a job placement without acceptable cause and/or without prior approval from both the ASM-CE and the Head of the Department; fails to honour an agreement to work with an employer; and/or conducts themselves in such a manner as to cause their discharge from the job.

www.mun.ca/coop

In addition to the regulations outlined below, a student must also meet the requirements set out under the General Regulations for the B.A. (Honours) Degree Regulations or Programs of Study for the Honours Degree of Bachelor of Science, as well as the Department’s Honours in Economics (B.A. or B.Sc.).

See Major in Economics (Co-operative) (B.A. or B.Sc.), Eligibility for Admission.

1. A Bachelor of Arts(Hons.) student who undertakes an Honours in Economics (Co-operative) shall complete at least 66 credit hours as follows:

   1. Economics 1010 (or the former 2010), 1020 (or the former 2020), 2550, 3000, 3001, 3010, 3011, 3550, 3551, 4120, 4550, 4551, and 4999;

   2. An additional 21 credit hours in Economics at the 3000 or 4000 level;

   3. Economics 299W, 399W, and 499W;

   4. Mathematics 1000; and

   5. Statistics 2500. A student may, with the approval of the Head of the Department or delegate, substitute Statistics 2550 for 2500.

2. A Bachelor of Science(Hons.) student who undertakes an Honours in Economics (Co-operative) shall complete at least 84 credit hours as follows:

   1. Economics 1010 (or the former 2010), 1020 (or the former 2020), 2550, 3000, 3001, 3010, 3011, 3550, 3551, 4120, 4550, 4551, and 4999;

   2. An additional 21 credit hours in Economics at the 3000 or 4000 level;

   3. Economics 299W, 399W, and 499W;

   4. Mathematics 1000, 1001, and 2050;

   5. Statistics 2550 or 2500, and an additional 3 credit hours of Statistics;

   6. Computer Science 1000, and an additional 3 credit hours of Computer Science. With the approval of the Head of the Department or delegate, a student may substitute another 1000-level Computer Science course for Computer Science 1000; and

   7. At least 3 credit hours in an additional science subject other than Mathematics/Statistics, Economics, and Computer Science.

3. A student should refer to Suggested Course Progression for Bachelor of Arts (Honours) in Economics (Co-operative) or Suggested Course Progression for Bachelor of Science (Honours) in Economics (Co-operative).

4. Promotion from each semester requires a grade of 70% in all courses specified in clause 1. or 2. above, as relevant, and a cumulative average of at least 70% in all courses. A student who does not meet these requirements, and/or does not maintain full-time status will not be promoted to the next semester and will be required to withdraw from the program.

5. University Regulations (Undergraduate), Classification of Students notwithstanding, a student will require special permission to register for courses while on work terms if the courses are in addition to the prescribed program. Normally, work terms are considered equivalent to a full-time course load with no time for additional course work.

See Major in Economics (Co-operative) (B.A. or B.Sc.).

See Major in Economics (Co-operative) (B.A. or B.Sc.).

In addition to completing the normal requirements for a Bachelor of Arts and one of a Joint Honours, Honours, Major or Minor in Economics, students may elect to complete requirements for the International Bachelor of Arts (iBA). As part of the minimum 120 credit hours, a student may use eligible credit hours in Economics to jointly satisfy other requirements of the iBA degree. When selecting courses, a student is encouraged to consult with an academic advisor early in the program, to consider Possible Course Sequencing for the International Bachelor of Arts (iBA) (First 60 Credit Hours), and to consider Economics courses listed in International Studies (IS) Designated Courses. Up to 12 credit hours in Economics IS courses may be used towards the International Studies (IS) Courses Requirement.