Economics

• M.A. Economics
• M.A. Economics with Concentration in Financial Economics
• M.A. Economics with Specialization in African Studies
• M.A. Economics with Specialization in Data Science
• M.A. - M.B.A.
• Ph.D. Economics

M.A. Economics

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 M.A. 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.

Students following the M.A.-M.B.A. dual pathway are governed by the academic regulations for the M.A. (above) and the M.B.A. For academic regulations concerning the M.B.A. visit the Business programs section of this Calendar.

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 to the M.A.-M.B.A. dual degree pathway must qualify for admission for both the M.A. Economics and the M.B.A. program. For admission information concerning the M.B.A., visit the Business section of this Calendar.

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.

Post-Baccalaureate Diploma: Applicants who lack the required undergraduate preparation may be admitted to the Post-Baccalaureate Diploma program in Economics designed to raise their standing to honours status. Refer to the Undergraduate Calendar for details about this program as well as the regulations governing it.

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. - M.B.A.

Students completing the dual degree pathway will graduate with: M.A. Economics with Concentration in Financial Economics, and M.B.A. with Concentration in Financial Economics.

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 normally 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.

If the student is in receipt of a teaching assistantship, a research assistantship, or some other type of scholarship, the value of the award will be deferred to a later term. External awards will be issued or deferred in accordance with the relevant criteria of the associated agency.

Ph.D. Economics

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.