The Department of Economics offers two 3-credit courses at the 100-level (see course descriptions at the bottom of this page):
ECON 101 – Introductory Microeconomics
ECON 102 – Introductory Macroeconomics
Together, ECON 101 and 102 provide the 6 credits of foundational course material for further study in Economics. These courses are required for a major, joint major, advanced major, joint advanced major, honours, minor, subsidiary, or pair in Economics.
ECON 101 and 102 are required courses for students in the Bachelor of Business Administration degrees; all programs (both Bachelor of Arts and Bachelor of Science) in Interdisciplinary Studies in Aquatic Resources; Bachelor of Arts joint major, joint advanced major, and honours programs in Development Studies; and Bachelor of Arts major, joint major, and honours programs in Public Policy and Governance. Students completing a minor in Public Policy and Governance are required to take one of ECON 101 or 102.
ECON 101 and 102 may be electives in any other program, except the Diploma in Engineering.
ECON 101 is not a prerequisite for 102, so students looking for a 3-credit course in second semester may take ECON 102 without having taken 101 in first term.
ECON 101 and 102 are the minimum prerequisites for all other courses in the department except ECON 271, 281, and 291, for which the prerequisite is only 101.
Course Descriptions from the Current Academic Calendar:
101 Introductory Microeconomics
This course provides an introduction to microeconomic concepts and methodology. Students will learn about basic concepts such as scarcity and opportunity cost, and economic efficiency. The other central themes of the course include theories of supply and demand; the theory of production and costs, the functioning and the performance of competitive markets versus monopolies and oligopolies; labour markets and the markets for public goods. Three credits.
102 Introductory Macroeconomics
The second half of introductory economics provides an introduction to macroeconomic concepts. The course examines pressing problems and issues in the Canadian economy and the world. Students will learn about alternate economic systems, national income accounting and the components of the national economy; the role of money in the economy; inflation; unemployment; international trade and trade policy; and the role of government in managing the economy. Three credits.
Please refer to Section 9.15 Economics in the Academic Calendar.
Click here to go to the Economics department webpage.