Bachelor of Economics
Economics is the study of how societies deal with the economic problem - providing for the economic well being of their citizens. Each society has to decide what goods and services to produce (and how many of each), which methods to use to produce those goods and services, and to whom to distribute these goods and services once they are produced. The approach of economics is to emphasize the role played by rational, self-interested economic agents.
Studying economics provides a solid preparation for a wide variety of careers in the private and public sectors. Recent economics graduates have secured employment in a variety of government agencies as Research Officers/Analysts, in banking and finance as Investment Services Officers or Financial Analysts, as well as becoming successful law students.
The Department offers a major and Honours major in Economics, a major in Economics and Society, a joint Economics and Business Administration major, a joint Economics and History major, joint Economics and Geography major and Honours major, a BSc major and BSc Honours major in Economics and a joint BSc in Statistics and Economics. The Department also offers a Certificate and minor in Economics.
Why major in economics?
Economics asks interesting and important questions
Economics studies how consumers, workers and businesses behave, with the goal of providing helpful analysis and advice to private firms, governments and international institutions like the IMF and WTO. Economists believe that individuals and business organizations usually act with an eye to their own self-interest. They use this assumption to predict future market trends, to analyze the relative merits of different possible market structures (e.g. small vs. big business, capitalism vs. socialism), and to advise governments and international bodies about the likely effects of their economic policies (e.g. taxes, unemployment insurance, free trade) upon individuals, industries and whole economies.
There are lots of employment possibilities for trained economists
Many jobs are available for economists in the public sector, especially in the areas of statistical analysis (Statistics Canada is always looking for economists), monetary policy (the Bank of Canada), public finance (advising municipal, provincial and federal governments on taxing and spending), economic development (advising towns and provinces on the best ways to attract business investment or plan for future expansion), and policy analysis (the very best students have a good shot at prestigious and rewarding jobs with institutions like the IMF, the World Bank and the United Nations).
In the private sector, there are plenty more possibilities. Students with a training in economics can also find work as foreign-exchange traders, stockbrokers, financial consultants, auditors, tax analysts, investment advisors, research officers, bank managers, market analysts, labour-relations managers, journalists, and so on. And economics degrees open the door to professional programs in Business Administration, Law, Public Administration and Accountancy.
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