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Undergraduate Programs

McMaster’s Economics program is one of the best in Canada.

Economics is a fascinating field of study with many sub-fields, as demonstrated by our extensive list of undergraduate courses. The analytical and decision-making skills learned apply to a wide range of employment opportunities.

Our degree programs and pathways will prepare you for the next stage in your life – whether that is graduate school or the start of a career. Honours degree options include combined majors in mathematics or computer science.

McMaster Economics graduates are in demand.

Our 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.

Highlighted Undergraduate Courses

This course integrates both theoretical foundations and practical applications of macroeconomic policy.  While the course is grounded in standard macroeconomic theory, it places an emphasis on the practical applications of macroeconomic policy as it affects macro variables such as interest rates, employment, and inflation.

Theoretical Component
Students will learn the IS-LM model, a cornerstone of Keynesian macroeconomics, and apply it to analyze the effects of monetary and fiscal policy decisions. The Keynesian approach in ECON 2MP3 is designed to complement, rather than duplicate, the classical framework taught in ECON 2Y03.  In the theoretical part of the course, readings from a textbook will complement lectures.

Applied Component
Through in-class activities and homework assignments, students will become familiar with reputable sources of macroeconomic data. They will learn to use spreadsheet software (e.g., Microsoft Excel) to manipulate data (e.g. calculating growth rates), produce tables and graphs and draw inferences for the information they compile.

Class discussions will focus on current macroeconomic events, such as Bank of Canada interest rate decisions, using background materials drawn from a range of sources, including:

  • Newspapers (e.g., The Globe and Mail, The Wall Street Journal)
  • Magazines (e.g., The Economist)
  • Think tanks (e.g., C.D. Howe Institute)
  • Central banks (e.g., Bank of Canada Monetary Policy Report)
  • News agencies (e.g., Bloomberg)

Hands-on activities are incorporated throughout the course to bridge theory and real-world application, equipping students with analytical tools and data literacy essential for understanding today’s macroeconomic landscape.

Prerequisite(s): One of ECON 1BB3, 1BA3, or ARTSSCI 2E03; and one of MATH 1K03 or Grade 12 Advanced Functions U. Students without credit in one of MATH 1F03, 1M03, Grade 12 Calculus and Vectors U (or Grade 12 Advanced Functions and Introductory Calculus U) or equivalent are strongly advised to register in MATH 1F03 or MATH 1M03, 1MM3 concurrently with ECON 2Y03.

Antirequisite(s): ECON 2H03

Institutions: property rights; the rule of law; state capacity; electoral systems; social norms. They are fundamental determinants of economic development, national income and its distribution; and their historical evolution is shaped by political mechanisms.

Prerequisite(s):One of ECON 1B03, 1BX3 and one of ECON 1BB3, 1BA3; or ARTSSCI 2E03

This course provides an introduction to experimental methods in economics and their application to understanding human decision-making. Drawing on insights from psychology and evidence from laboratory and field experiments, the course examines how individuals make choices in economic settings and introduces the principles of experimental design in economics.

Prerequisite(s): One of ECON 1B03, 1BX3 or ARTSSCI 2E03

Elaboration of regression techniques developed in ECON 2B03 and their applications. Problems of inference and interpretation in the analysis of economic data. Introduction to forecasting in economics.

Prerequisite(s): ECON 2Z03; and 2H03 or 2Y03; and 2B03 with a grade of at least B-; and a GPA of at least 6. The ECON 2B03 prerequisite can be met by getting a grade of at least B+ in one of the following alternative statistics courses: ARTSSCI 2R03, CHEMENG 4C03, COMMERCE 2QA3, POLSCI 3N06 A/B, POLSCI 3NN3, PNB 2XE3, 3XE3, SOCIOL 3H06 A/B , STATS 2D03 or another course that is approved by a departmental counselor as equivalent to ECON 2B03.

Antirequisite(s): ECON 3E03