Economics Undergraduate Program

Programs of study

The Department of Economics offers Majors and Honours programs to students in the Faculities of Arts, Business Administration and Science. The Department also offers a Minor to students from all Faculties. The usual entry level courses are ECON 1013 or ECON 1014 and ECON 1023 or ECON 1024.

Students normally choose a Majors/Honours program in their second or third year and should register with the Department of Economics at the beginning of the academic year. Registration forms can be obtained from the departmental secretary in SH 465 or downloaded it here. 

Minimum Academic Standards

Students in all Faculities should note that the minimum grade in a course required by any of the Economics programs (Majors, Honours and Minor) is a "C". A grade of "D" is acceptable only if 1) the course is a normal part of the final year of that program, and is being taken for the first time in the final year; or 2) the course is not needed to meet the minimum credit hours of that program. 

ECONOMICS PROGRAMS TO ARTS STUDENTS

Programs available to Faculty of Arts students include Majors and Honours in Economics, a Major in Economic Studies and a Minor in Economics. There is also a Minor in Public Policy jointly offered with Political Science.

Major in Economics

The major consists of a minimum of 30 ch in Economics of which 24 must be in advanced courses. Required courses include ECON 3023, ECON 3013, and a 3 ch course in statistics. Sine the Economics Department does not offer an undergraduate statistics course, most statistics courses offered by other Departments are acceptable as an Economics statistics credit, e.g. ADM2623/ECON3601.

Major in Economic Studies

This major consists of a minumum of 30 ch in Economics, of which 24 ch must be in advanced courses. There are no other restrictions on course selection. The Economics Studies Program is appropriate for those who want a liberal arts background in Economics without the commitment to theory and statistics required by the Major in Economics.

Honours in Economics

There are two Honours programs: Single Honours and Joint Honours. They are suitable for students who intend to become professional economists, particularly those who plan to do graduate work at UNB or another university.

The Single Honours Program consists of a minimum of 54 ch in Economics courses or approved substitutes. The Joint Honours Program consists of 48 ch in Economics courses or approved substitutes.

Students may substitute up to 9 ch of non-Economics courses for non-compulsory Economics courses. Department of Economics approval is required.

These substitute courses must be approved by the Directory of Undergraduate Studies.

To remain in the Honours programs, a student must maintain a GPA of 3.0 in Economics courses and approved substitutes.

The following courses are compulsory for Honours students: ECON3013 and ECON3023, ECON3601/ADM2623 and ECON3628/ADM3628 or approved substitutes, ECON 3665, ECON 4013, ECON 4023, ECON 4625, and ECON 4665.

Minor in Economics

In addition to the Majors/Honours programs in Economics, a Minor in Economics is also available to students from all Faculties. The Minor in Economics shall consist of at least 24 ch in Economics. The courses for the Minor must be from a "coherent set of sequence of courses" as called for by the general university regulations for a Minor.

Minor in Public Policy

This is a joint Minor proposed by the departments of Economics and Political Science. Students may Minor in Public Policy by completing 24 ch of courses offered by the Department of Economics and the Department of Political Science. Students are required to complet 24 ch as follows: 


  1. 6 ch of economics chosen from: ECON 1013 or ECON 1014, ECON 1023 or ECON 1024, ECON 3505, ECON 3705, ECON 3905.
  2. 6 ch of introductory political science (POLS) courses chosen from POLS 1103, POLS 1203, POLS 2202, POLS 2203.
  3. 6 ch of advanced economics (ECON) courses from ECON 3055, ECON 3203, ECON 3504, ECON 3702, ECON 3775, ECON 3801, ECON 3815, ECON 3845, ECON 3865.
  4. 6 ch of advanced political science (POLS) courses from POLS 3211, POLS 3212, POLS 3227, POLS 3251, POLS 3257, POLS 3282, POLS 3292, POLS 3391, POLS 3461, POLS 3647.

ECONOMICS PROGRAMS TO BUSINESS ADMINISTRATION STUDENTS

Programs available to Faculty of Business Administration students include Majors in Economics, Honours in Economics, an Honours in Finance and Economics, and a Minor in Economics.

Major in Economics

The Major consists of minimum of 30 ch in Economics of which 24 ch must be in advanced courses. Business students should note because the Economics Department does not offer its own statistics and quantitative methods courses, that ADM 2623 and ADM2624 are treated as credits for advanced Economics courses. Required courses include ECON 3013, ECON 3023 and ADM2623. 

Honours in Economics

Business Administration students can complete an Honours in Economics. Honours requires a cumulative GPA of 3.0 for the 24 ch or more of advanced courses required. The required courses are as follows: 21 ch comprised of ECON 3013, ECON 3023, ECON 3665, ECON4013, ECON 4023, ECON 4625, and ECON 4665. An additional 3 ch of other Economics electives beyond the introductory level.

Honours in Finance and Economics

Business Administration students may complete an Honours in Finance and Economics. The program requires cumulative GPA of 3.0 for the advanced courses required. The required courses are as follows: 6 ch comprised of ADM 3415 and ADM 4445. 3 ch comprised of ADM 3628 or approved equivalent. 9 ch from: ADM 3435, ADM 4416, ADM 4425, ADM 4426, ADM 4421, ADM 4450, ADM 4455 and ADM 4475 (or MATH 4853). 18 ch comprised of: ECON 3013, ECON 3023, ECON 3665, ECON 4013, ECON 4023, and ECON 4625. 

Minor in Econmics

A Minor in Economics is available to Business Administration students. The Minor consists of at least 24 ch in Economics. For the Minor ADM2623 and ADM2624 are treated as Economics credits. This means BBA students can earn a Minor in Economics by taking only four Economics courses in addition to ECON 1013 and ECON 1023. The courses for the Minor must be from a "coherent set of sequence of courses" as called for by the general university regulations for  Minor. 

ECONOMICS PROGRAMS TO SCIENCE STUDENTS

Programs available to Faculty of Science students include Majors and Honours in Economics, Major and Honours in Mathematics/Statistics-Economics, Major in Geology-Economics, and a Minor in Economics.

Majors and Honours

Students are advised to carefully plan their selection and sequencing of foundation courses as each course is a prerequisite for higher level courses within the same subject area.

Students normally choose a Major or Honours in the second year and should register with the Department at the beginning of the academic year. Registration forms may be obtained from the departmental secretary in SH 465 or downloaded from the departmental website at: http://www.unb.ca/fredericton/arts/departments/economics/index.html

Major in Economics

A Major will consist of 42 ch in Economics courses, 63 in other Science courses (including CS 1003 or CS 1073) and 21 ch of electives for a total of 126 ch. The following courses are compulsory for this program: ECON 1013, ECON 1023, ECON 3013, ECON 3023, ECON 4013, ECON 4023, ECON 3665, MATH 1003 or 1053, MATH 1013 or 1063, CS 1003 or 1073, STAT 3083, and STAT 3093. Course selection should normally conform to the following pattern: 

First Year (36 ch minimum)

  1. ECON 1013, ECON 1023, CS 1003 or 1073, MATH 1003 or 1053, MATH 1013 or 1063.
  2. A total of 20 ch of first year science lecture and labratory courses in two subjects areas of Biology, Chemistry, Geology (Earth Sciences), and Physics.

Second year (30 ch minimum)

  1. ECON 3013, ECON 3023, and 6 ch electives in Economics
  2. Two additional courses of first year science lectures in the same subject area
  3. STAT 3083, STAT 3093
  4. 6 ch chosen from List A

Note: Students who did not take ECON 1013, 1023 in their first year may enter the program by taking these courses in their second yar. They should consult the Undergraduate Driector in Economics for course selections.

Third and Fourth Years (60 ch minimum)

  1. ECON 4013, ECON 4023, ECON 3665
  2. A minimum of additonal 15 ch (advanced level) in Economics
  3. 21 ch of approved electives (at least 9 ch must be advanced level as defined by the relevant Department)
  4. 15 ch chosen from List A (at least 6 ch must be at advanced level as defined by the relevant Department).

List A: Biology, Chemistry, Computer Science, Geology (Earth Sciences), Mathematics, Physics, Statistics.

Honours in Economics

The Honours program is designed mainly for persons who intend to become professional economists, particulary those who plan to do graduate work in Economics at UNB or some other universities. The program emphasizes economic theory, mathematical economics, mathematics and quantitative research methods.

Admission to the Honours Program is restrictred to persons who have earned a grade of B or higher in ECON 1013 and 1023 or MATH 1003 and 1013 or their equivlances, and have a cumulative grade point average of at least 3.0. To remain in the Honours program a student must maintain a grade point average of 3.0 in Economics courses and approved substitutes, with no grade lower than C in a required course.

The Honours program consists of 48 ch in Economics courses, 63 ch in other Science courses (including CS 1003 or CS 1073) and 15 ch of electives for a total of 126 ch. The following courses are complusory for Honours students: ECON 1013, ECON 1023, ECON 3013, ECON 3023, ECON 4013, ECON 4023, ECON 4625, ECON 4665, MATH 1003 or 1053, MATH 1013 or 1063, MATH 2003, MATH 2013, MATH 2213, CS 1003 or 1073, STAT 3083 and STAT 3093. Course selection should normally conform to the following pattern:

First Year (36 ch minimum)

  1. ECON 1013, ECON 1023, CS 1003, or 1073, MATH 1003 or 1053, MATH 1013 or 1063.
  2. A total of 20 ch of first year science lecture and labratory courses in two subject areas of Biology, Chemistry, Geology (Earth Sciences), and Physics.

Second Year (30 ch minimum)

  1. ECON 3013, ECON 3023 and 6 ch electives in Economics
  2. Two additional term courses of first year science lectures in the same subject area.
  3. MATH 2003, MATH 2013, STAT 3083, STAT 3093.

NOTE: Students who did not take ECON 1013, 1023 in their first year may enter the program by taking these courses in their second year. They should consult with the Undergraduate Director in Economics for course selections.

Third and Fourth Years (60 ch minimum)

  1. ECON 4023, ECON 4625, ECON 4665
  2. MATH 2213
  3. A minimum of 18 additional ch (advanced level) in Economics
  4. 12 ch chosen from List A (at least 6 ch must be at advanced level as defined by the relevant Department)
  5. 15 ch approved electives (at least 6 ch must be advanced level as defined by the relevant Department)

List A: Biology, Chemistry, Computer Science, Geology (Earth Sciences), Mathematics, Physics, Statistics.

Major or Honours in Mathematics/Statistics and Economics

The combination of mathematics, statistics and economics is a natural one as students will see practical appliations of mathematics and statistics in their economics courses and the rigorous techniques from mathematics will aid students in their problem-solving skills. Requirements for a Science degree are listed below.

First Year

First year required courses are listed under the BSc general regulations, MATH 1013 or 1063 must be included. CS 1003 or 1073, one of ECON 1013 and 1023 or ECON 1014 and 1024 may be taken in first or second year. Recommended elective: STAT 2043. 

Second Year

MATH 2003, 2013, 2203, 2213, ECON 1013, 1023, CS 1003 or 1073 (if not taken in first year), plus approved electives to bring the course load to a minimum of 30 ch. 

Third and Fourth Years

  1. MATH 3003, 3043, 3373 and one course chosen from MATH 3033, 3073, 3213, 3243, 3473, 3803, 4423, 4433 or 4853.
  2. STATS 3083, 3093, 4443, and three courses chosen from STAT 3303, STAT 3383, 4053, 4073 or 4303.
  3. ECON 3013, 3023, 4013, 4023, 4625 plus at least 3 additional term courses in Economics.
  4. An additional 9 ch of electives so that the total in third and fourth year is 66 ch. The minimum total number of credits for the degree is 135 ch.

Recommended electives: MATH 3413, MATH 3813, and any of the courses listed above.

Honours Requirements

MATH 3103 and 3113 must be taken and MATH 3003 becomes an elective course. Honours students must take a total of 33 ch of upper level MATH/STAT courses. The minimum GPA for an honours degree from the Faculty of Science is 3.0. 

Note: Some year-to-year variation in Economics course selection is possible. For example a student taking ECON 1013, 1023 in year 1 may wish to take ECON 3013, 3023 in year 2. 

Major in Geology (Earth Sciences) / Economics

First Year

Students follow the first year Science curriculum. MATH 1003 or 1053, MATH 1013 or 1063 must be taken. ECON 1013, 1023 or ECON 1014, 1024 may be taken in the first or second year. ESCI 1001, 1012 must be included; ESCI 1703 is recommended. One of ESCI 1006 or 1017 must be included; it is recommended that students take both labouratory courses. 

Second Year

ESCI 2131, 2142, 2212, 2321, 2703, STAT 2043, one of MATH 2003 and 2013 or 1503 and 2513, plus ECON 1013, 1023 if not taken in the first year. ECON 3013 and 3023 should be taken in the second year if ECON 1001, 1002 or ECON 1013, ECON 1023 were taken in the first year.

Third and Fourth Year

ESCI 3131, 3322, 4312, 4461, 4472, 4442 plus a minimum of 1 term course in Geology (Earth Sciences) (ESCI 4900 is required in addition for honours), ECON 3013, 3023, 3665, 3755, 3794, 4013, 4023 plus a minimum of 2 term courses in Economics, CS 1003 and a mimimum of 4 additional approved term courses. 

Minor in Economics

A Minor in Economics is available to Science students. It consists of at least 24 ch in Economics with a grade of 2.0 or better. For the Minor up to 6 ch in statistics courses from other Departments may be treated as equivalent to Economis statistics and therefore counted as an Economics credit. The courses for the minor must be from a "coherent set of sequence of courses" as called for by the general univeristy regulations for a Minor.

ADDITIONAL PROGRAMS: COOPERATIVE EDUCATION PROGRAM

The Department operates a small Co-opertive Eduction (Co-op) Program available to academically qualifed Honour and Majors in Economics and Majors in Economic Studies. It is co-ordinated through the Faculty of Business Administration. This program offers students the opportunity to undertake paid work-terms, the work to include economic research and analysis beyond classroom instruction. The Program offered within the Department consists of a minimum three (3) four-month work-term sessions which may or may not be taken consecutively depending on the work-term offer taken. These work-term sessions are in addition to the normal eight semesters of academic study. The Program allows the student to obtain a Major in Economics or Economic Studies or Honours in Economics in addition to the Co-op participation. Students normally apply to enter the Co-op Program after completing the first year of study, but later admission may be possible.

The following Program rules apply:

  1. Admission into the Program is selective. Students must maintain a minimum GPA of 3.0 while participating in the Co-op Program.
  2. Student must successfully complete CS1043 Introduction to computers before entering the Co-op Program. Completion of CS2525 Microcomputer Applications is recommended before entry into the Program.
  3. Students must be fully registered at UNB during each work-term so that they can be considered as full-time students while working.
  4. A Co-op fee will be charged for each registered 4-month work-term to cover placement and administration costs.
  5. Students must undertake a minimum of 3 work-terms. The work-terms may alternate with study-terms, or the terms may run consecutively over two or three terms, depending on employer demand.
  6. Each 4-month work term will be monitored directly by the employer, and by the departmental Co-op Director through oral and written communications with the employer and student. The student must complete a work-term report after each 4-month term. Work-term evaluations by the employer and work-term reports must be satisfactory for the Co-op designation to appear on university transcripts. Each successful work-term will appear on the student's transcript.
  7. Students must complete at least one study-term after their last work-term.
  8. The term "Co-operative Education in Economics" will follow the degree designation on the student's final transcript.