TRU
Business and Economics

Economics Major/Minor

The Economics Major introduces students to the core body of knowledge in the discipline. In addition, students improve their abilities to conduct pricing, cost-benefit and program analysis, forecasting and industry analysis. They learn how economies interact which aids in all facets of business decision making. Finally, they learn to analyze the economics of the regulatory process and the reaction of businesses to the regulatory environment. Emphasis is placed on the application of basic economic tools to policy areas.

For those students wanting only an exposure to economics, an Economics Minor is also available.

 Learning objectives

Upon completion of this program, students will be able to:

  1. Discuss the theories and principles of microeconomics including trade and comparative advantage, the functioning of markets, consumer theory, uncertainty and risk, production and costs, market structure under varying competitive conditions, price theory, public good provisions, externalities and other market failures, environmental protection, taxation and welfare economics.
  2. Discuss the theories and principles of macroeconomics including economic fluctuations, growth and development; unemployment; inflation, interest rates, deficits and debt, balance of payments and exchange rates, fiscal, monetary and various other polices using economic growth models, aggregate demand and supply as well as other applicable models.
  3. Collect, analyze and interpret relevant economic information from multiple sources.
  4. Demonstrate how quantitative/statistical methods and software packages can be used to examine economic data.
  5. Describe the role of government and institutions in the economy including taxation, spending, regulation and production.
  6. Integrate ethical concerns including efficiency, fairness, equity and individual freedom in policy development.
  7. Analyze the behaviour of individuals, businesses and industries in market-based systems; social issues; and the challenges of developing economies using different microeconomic and macroeconomic theories and principles.
  8. Assess and revise public policies addressing both market and non-market issues.
  9. Apply economic theories and principles in a professional setting.
 Major requirements

The Major in Economics requires 42 ECON credits of which 24 must be at the 3000 and 4000 level, with a minimum of 6 credits at the 4000 level. ECON 2900 and ECON 2950 are required and either ECON 3900 or ECON 3950 must be taken.

 Minor requirements

12 credits of 3000 and/or 4000 level Economics, excluding ECON 3090.

 Recommended upper level courses
ECON 3100 Canadian Financial Markets*
ECON 3200 Introduction to Mathematical Economics
ECON 3410 Economics of Climate Change
ECON 3500 Public Finance
ECON 3550 International Economics*
ECON 3600 Labour Economics
ECON 3610 The Economics of Gender
ECON 3650 Government and Business
ECON 3670 Economic Analysis of Law
ECON 3690 Community Economic Development
ECON 3700 Benefit-Cost Analysis and the Economics of Project Evaluation*
ECON 3710 Environmental Economics*
ECON 3730 Forestry Economics*
ECON 3740 Land Use Economics*
ECON 3840 Economics Analysis of Health Services
ECON 3900 Intermediate Microeconomics 2
ECON 3950 Intermediate Macroeconomics 2
ECON 3990 Special Topics in Economics
ECON 4100 International Financial Markets
ECON 4320 Econometrics
ECON 4330 Forecasting in Business and Economics
ECON 4560 International Macroeconomics and Finance
ECON 4660 Industrial Organization
ECON 4720 Sustainable Economic Development
ECON 4960 Directed Studies in Economics
ECON 4990 Special Topics in Economics

* These courses are offered every year, subject to minimum enrollment requirements. All other courses are offered every other year.