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Program Description

All of the following program descriptions are for full time students.

Usually students in both the M2 and M1 program take 4 courses during the Fall semester (September through December) and 4 courses during Winter semester (January through April).  There are no M1 courses during Summer semester (May through August).  There are usually no M2 courses during Summer semester but M2 students may choose to write a Major Paper during Summer semester after completing the M2 Fall and Winter courses.

The Economics Graduate Committee will decide if the applicant should be offered admission to the M1 or the M2 program, based on the applicant's academic background.

Program M2 Masters Candidate

Students will successfully complete 8 courses in order to graduate:

  • ECON 8010 – Microeconomic Theory I   (required)
  • ECON 8020 – Macroeconomic Theory I  (required)
  • ECON 8410 – Econometric Theory I       (required)
  • Plus Option Courses – 5 Economics Graduate courses.  One of the 5 option courses can be a Major Paper.

For their option classes, we recommend that students who plan to enter a Ph.D. program take:

  • ECON 8030 – Microeconomic Theory II
  • ECON 8040 – Macroeconomic Theory II
  • ECON 8420 – Econometric Theory II
  • ECON 8810 – Mathematical Economics

Other option classes that could be offered, for example:

  • ECON 8100 – Theory of International Economics
  • ECON 8160 – Labour Economics
  • ECON 8310 – Industrial Organization
  • ECON 8430 – Applied Econometrics
  • ECON 8500 – Monetary Theory
  • ECON 8800 – Economics of Strategic Behavior

In some cases, option classes can be taken from other departments (notably from the Mathematics & Statistics department or the Odette School of Business), subject to approval by the Economics Graduate Director.  A minimum final grade of 70% is required to receive credit in any graduate level course for an Economics Masters degree.

Program M1 Masters Qualifying

This program involves one Qualifying year, covering economic theory and some applications, before entry into the M2 program. In the second year (the M2 year), candidates will pursue the conventional M.A. program as described above. Graduates of a three-year B.A. in Economics may also apply for the M1 program in lieu of an honours year in Economics.

Usually, these 8 Courses must be taken during the Qualifying year:

during Fall semester:
Introduction to Econometric Methods I  ECON 3130       (previously 41-313)
Mathematical Economics                      ECON 4060       (previously 41-406)
Advanced Microeconomics I                  ECON 4230       (previously 41-423)
Advanced Macroeconomics I                 ECON 4330       (previously 41-433)

during Winter semester:
Senior Research Workshop                    ECON 4070      (previously 41-407)
Introduction to Econometric Methods II  ECON 4140      (previously 41-414)
Advanced Microeconomics II                  ECON 4240      (previously 41-424)
Advanced Macroeconomics II                 ECON 4340      (previously 41-434)

A minimum final grade of 70% is required to receive credit in each of these 8 courses.  Following successful completion of these 8 courses, the student will advance to the M2 year as a Masters Candidate student for the second year of the program.

For the most recent information, please consult the official Graduate Calendar. You may also contact our Graduate Secretary at