Economics Program Changes, 2011-2012

We have made a number of important changes to Economics programs. These new program structures are reflected in the Arts and Sciences Calendar 2011-2012, and students should consult the calendar for details.

Here, we highlight the main changes in the Economics Minor, Major, and Specialist programs that affect student course selection, from first year through fourth year.

Disclaimer: This pupose of this document is to provide a "plain language" explanation of the program changes. The Arts and Sciences Calendar is the only official source of specific program requirements.

Especially given the important role of prerequisites in determining both course and program eligibility, students are strongly advised to familiarize themselves with the new programs, and plan the timing of their courses appropriately.

Program Entry Requirements

In compliance with Faculty of Arts and Science policy, we are phasing out the use of GPA as a program entry requirement. In place of the GPA, eligibility for Economics programs is based on performance in ECO100Y (or ECO105Y, if permitted), and first-year mathematics. Tables comparing the "old" and "new" program requirements are listed here:

  • Overview of Economics Program Entry Requirements

  • Students interested in the Economics Minor or Economics Major programs should note in particular that in addition to earning a minimum of 67% in ECO100Y, they will need a minimum of 63% in MAT133Y in order to enrol.
  • Students interested in the Economics Specialist program will need a minimum of 63% in MAT135H and MAT136H (both courses), in addition to a minimum of 70% in ECO100Y.

    • Which criteria apply to you?

  • For all Economics subject POSt requests in 2011: The "old", GPA-based rules apply.

  • For all Economics subject POSt requests in 2012: The "new", ECO and MAT grade-based rules apply. This means that all students starting first-year at U of T in 2011 will be subject to the new rules, and should plan their courses accordingly.

    • Mathematics Requirements

    In addition to using MAT grades to evaluate Economics program eligibility, two other important math-related changes were made to our programs.

    1. For the Economics Specialist program, MAT133Y is no longer accepted as meeting the MAT program requirement. Students must take math at the MAT135H+136H level or higher. Indeed, given the importance of mathematical reasoning, students should consider taking MAT137Y. By taking MAT135H+136H or MAT137Y, students in the specialist program will now be able to take second-year mathematics courses, some of which can be counted towards the Economics Specialist program. The new program rules concerning first-year math apply to all students requesting the Economics Specialist program in 2012 (and afterwards).
    2. The Economics and Mathematics Specialist program has been revamped and modernized. There is now much more flexibility as to the MAT courses that are required in upper years. In addition, students must now take ECO325H, ECO326H, ECO375H, and ECO376H -- the full suite of advanced economic theory/econometrics courses. Students interested in this program must take either MAT137Y or MAT157Y in first year, in addition to ECO100Y

    Economic History

    The University of Toronto has a proud heritage in Economic History, one we are committed to maintain. Given the evolution of Economic History, however, it no longer makes sense to distinguish between "economics" and "economic history" -- Economic History is Economics.

    Effective immediately, we no longer offer separate programs in Economics and Economic History. Students in all economics programs are now permitted to take as many economic history course as they wish. At the same time, while we encourage students to take economic history, we no longer require it. Nor do we require students take a course in the History of Economic Thought, though again we encourage students (especially Economics Specialists) to to so.

    The "new" rules concerning the flexibility of course selection in upper year courses (pertaining to Economic History and the History of Economic Thought) are available to all students in economics programs, irrespective of the date at which they enrolled in their program.

    A word of caution to Economics Specialists: Under the "old" program rules, ECO429Y (History of Economic Thought) performed "double duty" as meeting both a History of Thought requirement, and a 400-level course requirement. If students choose to not take ECO429, they should be sure that they are qualified to take other 400-level courses instead. Furthermore, spaces in 400-level courses are strictly limited, so students should be careful in selecting courses. It may turn out that the only space available is in ECO429Y.