Economics

 

What is economics?

Economics is the study of how limited resources can be allocated to the production of goods and services and how these goods and services can be distributed to satisfy the unlimited desires of individuals. Economics is usually divided into two general categories: microeconomics and macroeconomics. The former examines the markets for specific goods to determine how much will be produced and at what price they will be sold. The latter deals with total production in the economy, the overall price level and the role of money. This division forms the basis of the two introductory courses.

 

Why study economics?

Economics gives us the analytical tools to understand questions such as how prices are determined, why some people are unemployed, why interest rates rise and fall and why products are traded between nations. Economic analysis can be focused on an enormous variety of questions: the fishery, petroleum production, forestry, unemployment, taxation and economic growth are examples of particular relevance to our province. Possible career opportunities for students studying economics include, but are not limited to:

  • economist
  • sales analyst
  • investment analysis
  • financial services manager
  • market research analyst
  • international trade specialist
  • journalist
  • economic forecaster
  • insurance agent
  • commodities trader
  • securities broker
  • bank research analyst
  • economic consultant

Economics Co-operative Education Option (ECEO)

The popularity and demand for economics co-op programs is increasing across the country. The reason is simple. The qualitative and quantitative analytical skills of economists-in-training are in demand by the private sector and the public sector alike. Co-operative programs combine a solid base of course work with work terms that can provide students with invaluable experience.

Courses available in first year

Economics 1010
Introduction to Microeconomics I examines scarcity and opportunity cost; demand and supply; elasticity; household demand: marginal utility; household demand: indifference curves; production functions; short-run and long-run cost functions; perfect competition in the short run and the long run; monopoly.
Lectures: Three hours per week
Prerequisites: None
All sections of this course follow the QR guidelines for the Bachelor of Arts available at www.mun.ca/hss/qr.

Economics 1020
Introduction to Macroeconomics covers national income accounting, aggregate income analysis, money, banking and foreign trade.
Lectures: Three hours per week
Prerequisites: None
All sections of this course follow the QR guidelines for the Bachelor of Arts available at www.mun.ca/hss/qr.

Notes:

  1. Economics 1010 and 1020 need not be taken in any specific order and may be taken concurrently.
  2. Economics 1010 and 1020 are prerequisites to all further courses in economics.

 

Sample program for first year

For students completing a Bachelor of Arts with a major in economics

Students pursuing a Bachelor of Arts with a major in Economics will normally take the following courses in their first year:

Sample program

Fall SemesterWinter Semester
English 1090critical reading & writing course
Economics 1010Economics 1020
language study (LS) courselanguage study (LS) course
minor program courseminor program course
electiveelective

 

 


For assistance with course selection, students should contact:
Academic Advising Centre, advice@mun.ca

For students completing a Bachelor of Science with a major in economics

Students pursuing a Bachelor of Science with a major in Economics will normally take the following courses in their first year:

Sample program

Fall SemesterWinter Semester
Economics 1010Economics 1020
Mathematics 1000 (1090)*Mathematics 1001 (1000)*
Computer Science 1000three credit hours in computer science
English 1090English 1191, 1192, 1193 or 1110
electiveelective

 


* Students completing Mathematics 1090/1000 will be required to complete Mathematics 1001 as well.

Notes:

  1. To be admitted to the economics major program, students must complete 30 credit hours which must include:
    • six credit hours in English
    • six credit hours in mathematics
    • six credit hours in economics
    • six credit hours in a second science subject, other than mathematics and economics
  2. Students should contact the Department of Economics upon completion of these courses to declare their major program.
  3. A co-op. program is available to majors in economics

For assistance with course selection, students should contact:
Academic Advising Centre, advice@mun.ca

 

 

Contact information

For additional information please contact:
Department of Economics
economics@mun.ca

Contact

Guide to First Year

230 Elizabeth Ave

St. John's, NL A1B 3X9 CANADA

Tel: (709) 864-2530

Fax: (709) 864-2552

becomestudent@mun.ca