Economics

• M.A. Economics
• M.A. Economics with Concentration in Financial Economics
• M.A. Economics with Specialization in African Studies
• Ph.D. Economics

M.A. Economics

About the Program

Master's students in economics undertake a thorough study of economic theory, together with the working of public policy in Canada and elsewhere. Stress is placed on the understanding and application of quantitative methods to all aspects of economics. The program is generally oriented towards policy problems, and there is considerable opportunity for the development of specialized interests.

Academic Regulations

See the General Regulations section of this Calendar.

A grade of B- or higher must be received in each required core course in the program: ECON 5020, ECON 5021, ECON 5027, and ECON 5029. With respect to all other courses, a student may, with the recommendation of the Department and the approval of the Dean of the Faculty of Graduate and Postdoctoral Affairs, be allowed a grade of C+ in up to a maximum of 1.0 credit.

Admission Requirements

The normal requirement for admission to the master's program is a B.A. (Honours) (or the equivalent) in Economics, with an average grade of B+ or higher.

Applicants are expected to have had adequate preparation in microeconomic and macroeconomic theory, econometrics, and mathematics. This could be satisfied, for example, by having completed undergraduate courses in advanced microeconomic theory, advanced macroeconomic theory, econometric theory and methods, mathematical analysis in economics, and statistical analysis in economics. Students with deficiencies in their preparation may have their program requirements extended accordingly.

Qualifying Year: Applicants who lack the required undergraduate preparation may be admitted to a qualifying-year program designed to raise their standing to honours status.

Refer to the General Regulations section of this Calendar for details of the regulations governing the qualifying year.

The Department may require certain applicants to write the Graduate Record Examination Aptitude Test and the Advanced Test in Economics offered by the Educational Testing Service.

Applicants whose first language is not English must certify adequate proficiency in English in one of the following ways:

• by presenting a CAEL overall band score of 70 or higher; or
• by presenting a TOEFL iBT total score of 100 or higher with a score of 24 or higher on each of the four (Listening, Reading, Writing, and Speaking) sections; or
• by presenting an IELTS overall band score of 7.0 or higher with a score of 6.5 or higher on each of the four (Listening, Reading, Writing, and Speaking) parts; or
• by having completed ESLA 1900 [1.0] or ESLA 1905 [1.0] at Carleton University with a final grade of B- or higher.

Program Requirements

M.A. Economics

M.A. Economics with Concentration in Financial Economics - Coursework option (4.0 credits)
1.  1.5 credits in:		1.5
ECON 5020 [0.5]	Microeconomic Theory
ECON 5021 [0.5]	Macroeconomic Theory
ECON 5027 [0.5]	Econometrics I
2.  1.0 credit in:		1.0
ECON 5051 [0.5]	Asset Pricing
ECON 5052 [0.5]	Financial Markets and Instruments
3.  0.5 credit in:		0.5
ECON 5029 [0.5]	Methods of Economic Research
4.  0.5 credit from:		0.5
ECON 5055 [0.5]	Financial Econometrics
ECON 5058 [0.5]	Advanced Topics in Financial Economics
ECON 5602 [0.5]	International Monetary Theory and Policy
ECON 5608 [0.5]	Monetary Economics and Financial Intermediation
5.  0.5 credit in approved course		0.5
Total Credits		4.0

M.A. Economics with Specialization in African Studies

Guidelines for Completion of Master's Degree

All approved elective courses will normally be taken at the 5000 level. 

Full-time master's students are expected to complete their 4.0-credit requirements within two terms. Part-time students will take a minimum of five terms but must complete within an elapsed period of six calendar years, as set out in Section 13 of the General Regulations of this Calendar.

Internship Placement

An Internship option is available to full-time students in the M.A. program who are eligible to work in Canada. Registration in the Internship option requires departmental permission and is limited by availability of placements. Application for an internship placement will be considered after the student has successfully completed 2.0 credits, including ECON 5020 and ECON 5027.

Internship placements will locate students for at least one term in the public service, the private sector, or non-governmental organizations. Students will integrate theoretical and applied economic analysis in their work experience. During their work term, students are required to register in ECON 5902 (Internship Placement), which is additional to the program requirements described above. While taking ECON 5902, students are considered to be part-time, and may register for at most 1.0 credit in total.

Ph.D. Economics

About the Program

The doctoral program is offered jointly by the Departments of Economics at Carleton University and the University of Ottawa.

The Ph.D. program stresses the application of economic theory to the analysis of economic policy in Canada and elsewhere. Eight areas of specialization are available for intensive study and thesis research: econometrics, economic development, economics of the environment, industrial organization, international economics, labour economics, monetary economics, and public economics. The program of courses and thesis guidance, drawing upon the faculty of the two departments, will encompass course requirements, policy-oriented workshops, comprehensive examinations, and a thesis. Students are expected to have, or to acquire, proficiency in mathematics and statistics before proceeding with the program.

Academic Regulations

See the General Regulations section of this Calendar.

Doctoral students must normally obtain a grade of B- or higher in each credit counted towards the degree.

Admission Requirements

The normal requirement for admission into the Ph.D. program is a master's degree (or the equivalent) from a recognized university with high honours standing. The Department may require certain applicants to write the Graduate Record Examination Aptitude Test and the Advanced Test in Economics offered by the Educational Testing Service.

In cases of exceptional merit, Ph.D. candidates may be accepted on a part-time basis.

Transfer from Master's to Ph.D. Program

A student who achieves outstanding academic performance and demonstrates high promise for advanced research during the master's program may, with the permission of the Department, transfer into the Ph.D. program without completing the M.A. program if they have completed ECON 5020 (ECO 6120), ECON 5021 (ECO 6122), and ECON 5027 (ECO 5185) with an average grade of A or higher. Such students must take a total of at least eleven regular courses (M.A. and Ph.D. levels combined) and do not receive an M.A. degree. However, students who make the transfer and do not complete the Ph.D. can receive an M.A. by fulfilling all the requirements of the M.A. program.

Program Requirements

Notwithstanding additional course work that may be required by the admissions committee as a condition of entry, students admitted to the Ph.D. program are required to complete:

Students are also required to do course work in two of eight fields of specialization leading to a field comprehensive examination and the writing of a thesis. To fulfill this requirement, students must pass, within twenty-four months of beginning full-time study, at least two of the three courses associated with each of two chosen fields as well as a comprehensive examination in one of them (ECON 6905).

The courses in the eight fields of specialization are:

Comprehensive Examinations

Theory: Each student will register in ECON 6900 and ECON 6902 in order to write the comprehensive examinations in microeconomic theory and macroeconomic theory. Both of these examinations must be successfully completed within twelve months of beginning full-time study. Students who fail to meet this requirement will normally be withdrawn from the Ph.D. program.

Primary Field: Each student will register in ECON 6905 in order to write a comprehensive examination in his or her chosen primary field. This examination must be successfully completed within twenty-four months of beginning full-time study. Students who fail to meet this requirement will normally be withdrawn from the Ph.D. program.

Although not compulsory, a candidate may be required by an examining committee to sit an oral examination.

Seminar Attendance

Students who have completed the comprehensive examinations in microeconomic and macroeconomic theory will be required to attend a minimum of eight departmental seminars in economics during each academic year until they have submitted their thesis to the Faculty of Graduate and Postdoctoral Affairs.

Thesis Requirements

Doctoral students will write and defend a Ph.D. thesis. In preparing the thesis, the student is required to give two thesis workshops. In the first (ECON 6907), a research proposal for the thesis will be presented for evaluation by at least three faculty members. In the second (ECON 6908), a substantial portion of the research for the thesis will have been completed and will be presented and evaluated by at least three faculty members.

Guidelines for Completion of Ph.D. Degree

Full-time Ph.D. students are expected to complete their requirements within four calendar years. Students who undertake the program by a combination of full-time and part-time study must complete their degree requirements within an elapsed period of eight calendar years, as set out in the General Regulations section of this Calendar.

Summer session: some of the courses listed in this Calendar are offered during the summer. Hours and scheduling for summer session courses will differ significantly from those reported in the fall/winter Calendar. To determine the scheduling and hours for summer session classes, consult the class schedule at central.carleton.ca

Not all courses listed are offered in a given year. For an up-to-date statement of course offerings for the current session and to determine the term of offering, consult the class schedule at central.carleton.ca