The Carleton advantage. Exceptional teaching and research. Co-op opportunities

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1 Economics

2 At its core, economics 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 of society as a whole. Along with the study of decision-making and the interactions between the associated individuals, economics examines many important social problems such as health care, pollution, resource depletion, poverty, social assistance and the tax system. In addition to being applied to the problems of society, economics is applied in many business fields including labour relations, banking and financial markets, and international trade and finance. An education in economics is very different from one in business. While the latter provides a technical training in specific areas of current interest to prospective employers, the former is a social science: it is an intellectual discipline that seeks to analyze and understand social phenomena. The focus of an education in economics is on individual intellectual growth and development. The Carleton advantage Exceptional teaching and research At Carleton, you will be taught by experienced faculty who have a keen understanding of the discipline and are recognized for their excellence in teaching and research. In addition, you will benefit from courses offered by seasoned senior economists with extensive working experience in the federal government, local firms and nongovernmental organizations. Co-op opportunities Students in the Honours program in Economics or Applied Economics who are eligible to work in Canada can apply for admission to the co-op program at the time they apply for admission to Carleton or after they have begun their program. Students will be eligible for a co-op placement after second year and after they have met all requirements for the co-operative education option specified in the Carleton University Undergraduate Calendar at carleton.ca/cuuc. The normal requirement for the co-op notation on your transcript is the satisfactory completion of three work terms. Each term is normally four months in duration. Co-op work terms provide you with an opportunity to integrate the theoretical and practical aspects of your studies, and to work in government, non-profit or private-sector organizations.

3 The capital advantage Carleton s location in the nation s capital, Ottawa, gives you unique access to a wide range of resources. You will benefit from a wealth of research facilities and libraries in the city as well as the departments and agencies of the federal government, including Agriculture and Agri-Food Canada Bank of Canada Competition Bureau Environment Canada Finance Canada (Department of Finance) Foreign Affairs, Trade and Development Canada Health Canada Industry Canada Choosing the right program Bachelor of Arts (Honours) Bachelor of Arts (General) Carleton University offers several undergraduate programs in economics. Our Bachelor of Arts (Honours) programs are normally completed in four years of full-time study and provide a rigorous and intensive grounding in economics. Our Bachelor of Arts (General) program is normally completed in three years of full-time study and includes roughly half of the core intermediate-level requirements of our Honours programs, thereby making it relatively easy for students to switch between the two. This program is for students who do not necessarily want to pursue an extensive undergraduate education in economics. A minor in Economics is available to accommodate those individuals whose principal academic interest is in some other area of study. A minor in Industrial Economics is available to students in engineering who wish to learn the aspects of economics that are most relevant to their major. Honours programs For students who are interested in some degree of specialization in economics, there are several alternatives: Honours in Economics this program is geared to students who are interested in studying economics at the graduate level. It offers mathematical and

4 statistical training beyond that of all but one of our other programs, giving students a solid preparation for graduate education in economics. Honours in Applied Economics this program is designed for students who do not necessarily want to pursue graduate education in economics, but who require an Honours degree to further their educational objectives. It is recommended if you plan to pursue a law degree or a graduate degree in public administration or international affairs or, more generally, a career in the public or non-profit sectors. Honours in Economics or Applied Economics with a concentration in Financial Economics this program is recommended if you plan to pursue a career in the financial sector, which requires a strong background in economics in addition to finance and accounting. Honours in Economics or Applied Economics with a concentration in International Political Economy this program is recommended if you are interested in international affairs and plan to pursue a career in the foreign service or in an international governmental or non-governmental organization. Your prospects in such a career will be enhanced considerably by having the background in international trade and finance, international relations and selected area studies that this concentration provides. Honours in Economics or Applied Economics with a concentration in Development this program is recommended if you are interested in development and plan to pursue a career in the foreign service or in an international governmental or nongovernmental organization. Your prospects in such a career will be enhanced considerably by having the background in development economics and comparative politics in respect of development and underdevelopment that this concentration provides. Honours in Economics or Applied Economics with a concentration in Natural Resources, Environment, and Economy this program is recommended if you have a strong interest in environmental and natural resource issues and plan to pursue a career in business, government, education, law or the nonprofit sector. Your prospects in such a career will be enhanced considerably by having the background in the economics, geography and politics of natural resources and the environment that this concentration provides.

5 Honours in Economics with a specialization in Quantitative and Mathematical Economics this program provides a rigorous and intensive grounding in the mathematical and statistical tools of modern economics. It is recommended to individuals who desire the best possible preparation for graduate studies in economics. Combined Honours in Economics or Applied Economics and some other discipline this program is recommended for those who have a strong interest in both economics and some other social science or humanities discipline. Many of Carleton s BA programs can be combined with Economics or Applied Economics in a Combined Honours program. A full list is available in the Undergraduate Studies section of our website at carleton.ca/economics. Core courses In your first year of study, you will be required to take the following core introductory-level courses: Introduction to Economics (ECON 1000) or the First-year Seminar Introduction to Economics (FYSM 1003), either of which give you a basic foundation in microeconomics (the study of how economic agents make decisions and how they interact) and macroeconomics (the study of aggregate phenomena such as inflation, unemployment and economic growth); and Elementary Mathematics for Economics I, which is designed to be complementary to ECON 1000 and FYSM Also, you will be encouraged to take Introduction to Logic and Introduction to Computer Science I. In your second year of study, you will be required to take a number of core intermediate-level courses, all of which will build upon your acquired knowledge in the core introductory-level courses. In your third and fourth years of study, the courses you will be required to take depend on the specific Economics program in which you are enrolled. Applied Economics Honours students have the most flexibility because they are required to take only two core upper-level courses. The remaining courses required for the Applied Economics Honours program are Economics electives, principally at the 4000-level. Financial Economics Honours students in the most Business-course-intensive stream have

6 the least flexibility. They are required to take nine core upper-level courses, some of which must be taken before others. As a package, these courses will provide you with a solid basis for graduate studies in economics. Other options There is a wide variety of courses offered at the 3000 level for students who are interested in particular economic topics but do not wish to specialize in economics. Most of these courses are available to anyone who has completed introductory economics. Recent offerings include: Agricultural Economics; Environmental Economics; European Economic Integration; Housing Economics; International Monetary Problems; and Monetary and Financial Institutions. Your first-year experience First-year Seminars As a first-year Bachelor of Arts student at Carleton, you will be able to benefit from one of a wide selection of First-year Seminars. Small groups (maximum of 25 to 30 students) are taught by experienced instructors who provide early and frequent feedback on class assignments, and instruction in research, writing and study skills. You should consider the full range of available Firstyear Seminars and think about enrolling in the one that interests you the most. Taking any one of our Selected Topics in Economics (FYSM 1608) seminars is a good way to reinforce some of the core aspects of ECON 1000 and to get a better idea about how economics can be used to analyze real-world issues and to develop appropriate policy responses. A sample first year 1.0 credit in Introduction to Economics 0.5 credit in Elementary Mathematics for Economics I 0.5 credit in Introduction to Logic 0.5 credit in Introduction to Computer Science I 2.5 credits in other electives

7 Sakshi Sharma student in Economics and Global Politics Studying Economics at Carleton puts me at a unique advantage. Situated in the Nation s Capital, I have the very valuable opportunity to learn about aspects of policy and theory from the leading experts in those fields. A class with a professor who studies competition policy at Industry Canada can be followed by a lecture on monetary policy from a former governor of the Bank of Canada. The experienced professors at Carleton ground everything in a real-world context, which makes me especially glad I chose Carleton for Economics. Future opportunities The workplace By pursuing a degree in economics, you will develop the sound problem-solving, communication, analytical and research skills that many employers are looking for. Carleton Economics graduates can be found working in a wide range of fields, including: federal or provincial government departments and agencies such as the Department of Finance, the Bank of Canada, Agriculture and Agri-Food Canada, the Canada Revenue Agency (CRA) and Foreign Affairs, Trade and Development Canada; private business, banking, financial institutions, industry and insurance; and research positions with consulting firms and with non-governmental organizations in Canada such as the Conference Board, the North-South Institute and the International Development Research Centre (IDRC). Graduate studies Graduates of any of our Honours programs in Economics are generally well qualified to go on to graduate studies in a variety of fields including public administration, international affairs, business and economics. If you think that you may wish to pursue an advanced degree, you are encouraged to investigate graduate programs early in order to

8 ensure that your Economics program is suited to meet the relevant graduate-level requirements. Professional programs Many professional programs, including law, teaching and business (MBA), encourage well-rounded applicants from a variety of backgrounds to apply. Economics provides a strong foundation for such programs, and you are encouraged to pursue interests you may have in these fields after completing an undergraduate degree in economics. FAQs 1. Why would I choose an Honours program? Honours or four-year programs have many advantages including concentration/ specialization and double-major options and access to co-op and internship opportunities where available, as well as preparing you for graduate studies, professional programs and employment. 2. When do I have to declare a major? You will need to choose a major by the end of your first year. Course registration is generally easier for students who have declared a major, so even if you are not 100 per cent certain, it is best to choose a major upfront and change it later if you need to. 3. Where can I go for academic advice? Once you are studying at Carleton, our Student Academic Success Centre offers a range of services including academic advising and free study-skill development workshops. carleton.ca/ sasc Admission requirements For admission to the Bachelor of Arts program in Economics, you must have the Ontario Secondary School Diploma (OSSD) or equivalent, including a minimum of six 4 U/M courses. Your six 4 U/M courses must include 4U English (or Anglais), and 4U Advanced Functions. Although it is not an admission requirement, 4U Calculus and Vectors is strongly recommended. It is Carleton University policy to consider your best performance in any eligible course in the admissions assessment. Since the number of qualified applicants may be greater than the number of available spaces, cut-off averages and required

9 marks may vary. Please refer to our website at admissions.carleton.ca/requirements for the current admission requirements. Post-Baccalaureate Diploma in Economics The Post-Baccalaureate Diploma (PBD or postbac ) program in Economics is designed for people who already have an undergraduate degree and would like a rigorous and structured introduction to economics; new Canadians, international students, and others with a degree from outside Canada who are looking for a one-year, recognized, Canadian qualification in economics; and anyone who would like additional preparation for graduate education in economics beyond that provided by the degree(s) they hold already. The PBD in Economics provides eight months of intensive training in economic theory, econometric methods, and applied economics; opportunity for English-language training in academic writing skills for students whose first language is not English; and a structured and clearly defined course of study. To be eligible for admission to the Post- Baccalaureate Diploma in Economics students must normally have an undergraduate degree with a GPA of 9.0 or higher, preferably with honours; successfully completed university-level introductory (micro- and macro-) economics, calculus, and linear algebra with a grade of C+ or higher in each; and permission of the Department of Economics. Students may be granted advanced standing to a maximum of 1.0 credit. Advanced standing does not negate the 3.0 credit residency requirement. The sequencing of courses normally allows postbac students who begin in September to complete their program by the following May. Students who maintain an average of B+ or higher during their PBD studies are given strong consideration for admission to the Carleton University Master of Arts (MA) program in Economics. For more information, visit carleton.ca/economics/ post-bac-diploma-program. For more information...about studying Economics at Carleton, please visit our website at carleton.ca/economics or consult the Carleton University Undergraduate Calendar at carleton.ca/cuuc.

10 FACULTY OF Public Affairs FACULTY OF Public Affairs FACULTY OF Do you want more information? Public Affairs Please contact us at: Department of Economics Carleton University C-870 Loeb Building 1125 Colonel By Drive Ottawa ON K1S 5B6 Canada Tel: Fax: Website: carleton.ca/economics Undergraduate Recruitment Office Carleton University 315 Robertson Hall 1125 Colonel By Drive Ottawa ON K1S 5B6 Canada Tel: Toll-free in Canada: Fax: Website: admissions.carleton.ca This document is available in a variety of accessible formats upon request. A request can be made on the Carleton University website at: carleton.ca/accessibility/request. carleton.ca Produced by Creative Services and printed by Graphic Services XXM 01

11 For more information on all of Carleton s undergraduate programs, visit admissions.carleton.ca where you can browse program descriptions, career possibilities, and electronic versions of all of our program guides. You can also check out financial aid options, book a tour, sign up for our monthly newsletter, watch Carleton videos, and connect with us on social media. You may also wish to consult our current Admissions Viewbook We look forward to hearing from you!

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