Department of Economics
C870 Loeb Bldg.
613-520-3743
http://carleton.ca/economics
This section presents the requirements for programs in:
- 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
- Master of Arts Economics with Concentration in Financial Economics - Master of Business Administration with Concentration in Finance and Economics
- Ph.D. Economics
Program Requirements
M.A. Economics (4.0 credits)
Requirements - 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. 0.5 credit in: | 0.5 | |
ECON 5029 [0.5] | Methods of Economic Research | |
3. 2.0 credits in approved courses, 1.0 credit of which may be selected from among those offered in a related discipline, with the approval of the Department, through the M.A. Supervisor | 2.0 | |
Total Credits | 4.0 |
Requirements - Thesis 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. 1.5 credits in: | 1.5 | |
ECON 5909 [1.5] | M.A. Thesis | |
3. 1.0 credit in approved courses | 1.0 | |
Total Credits | 4.0 |
M.A. Economics
with Concentration in Financial Economics (4.0 credits)
Requirements - 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 |
Requirements - Thesis 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. 1.5 credit in: | 1.5 | |
ECON 5909 [1.5] | M.A. Thesis | |
Total Credits | 4.0 |
M.A. Economics
with Specialization in African Studies (4.0 credits)
Requirements - 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. 0.5 credit in: | 0.5 | |
AFRI 5000 [0.5] | African Studies as a Discipline: Historical and Current Perspectives | |
3. 0.0 credit in: | 0.0 | |
AFRI 5800 [0.0] | Scholarly Preparation in African Studies | |
4. 0.5 credit in: | 0.5 | |
ECON 5029 [0.5] | Methods of Economic Research | |
including a research paper on an African Studies topic approved by the Graduate Committee of the Institute of African Studies | ||
5. 0.5 credit in African Studies elective approved by the M.A. Supervisor of the Department of Economics | 0.5 | |
6. 1.0 credit in ECON approved by the M.A. Supervisor of the Department of Economics, including at least 0.5 credit from ECON 5500, ECON 5504, ECON 5505 | 1.0 | |
Total Credits | 4.0 |
Requirements - Thesis 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. 0.5 credit in: | 0.5 | |
AFRI 5000 [0.5] | African Studies as a Discipline: Historical and Current Perspectives | |
3. 0.0 credit in: | 0.0 | |
AFRI 5800 [0.0] | Scholarly Preparation in African Studies | |
4. 1.5 credit in: | 1.5 | |
ECON 5909 [1.5] | M.A. Thesis | |
on an African Studies topic approved by the Graduate Committee of the Institute of African Studies | ||
5. 0.5 credit from: | 0.5 | |
ECON 5500 [0.5] | Theory of Economic Development | |
ECON 5504 [0.5] | Economic Development: Domestic Aspects | |
ECON 5505 [0.5] | Economic Development: International Aspects | |
Total Credits | 4.0 |
M.A. Economics
with Specialization in Data Science (4.0 credits)
Requirements - 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. 0.5 credit in: | 0.5 | |
DATA 5000 [0.5] | Data Science Seminar | |
3. 0.5 credit in: | 0.5 | |
ECON 5029 [0.5] | Methods of Economic Research | |
including a research paper on a data science related topic | ||
4. 1.0 credit in ECON approved by the M.A. Supervisor of the Department of Economics, including at least 0.5 credit from ECON 5055, ECON 5361, ECON 5362, ECON 5700, ECON 5712, ECON 5713 | 1.0 | |
5. 0.5 credit in Data Science elective (which may be an additional course from the preceding list) approved by the M.A. Supervisor of the Department of Economics | 0.5 | |
Total Credits | 4.0 |
Requirements - Thesis 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. 0.5 credit in: | 0.5 | |
DATA 5000 [0.5] | Data Science Seminar | |
3. 1.5 credit in: | 1.5 | |
ECON 5909 [1.5] | M.A. Thesis | |
on a data science topic approved by the Data Science governance committee | ||
4. 0.5 credit from: | 0.5 | |
ECON 5055 [0.5] | Financial Econometrics | |
ECON 5361 [0.5] | Labour Economics I | |
ECON 5362 [0.5] | Labour Economics II | |
ECON 5700 [0.5] | Social and Economic Measurement | |
ECON 5712 [0.5] | Micro-Econometrics | |
ECON 5713 [0.5] | Time-Series Econometrics | |
Total Credits | 4.0 |
Master of Arts Economics with Concentration in Financial Economics - Master of Business Administration with Concentration in Finance and Economics (10.0 credits)
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.
Requirements: | ||
1. 6.0 credits in compulsory courses: | 6.0 | |
ACCT 5001 [0.25] | Financial Accounting | |
ACCT 5002 [0.25] | Managerial Accounting | |
BUSI 5802 [0.25] | Business Ethics | |
BUSI 5998 [0.0] | MBA Skills Workshop | |
ECON 5020 [0.5] | Microeconomic Theory | |
ECON 5021 [0.5] | Macroeconomic Theory | |
ECON 5027 [0.5] | Econometrics I | |
ECON 5029 [0.5] | Methods of Economic Research | |
FINA 5501 [0.25] | Financial Management | |
FINA 5502 [0.25] | Corporate Finance | |
IBUS 5701 [0.25] | International Business | |
ITIS 5401 [0.25] | Managing Information Systems in Organizations | |
MGMT 5100 [0.5] | Managing People and Organizations | |
MKTG 5200 [0.5] | Marketing Strategy | |
TOMS 5302 [0.25] | Operations Management | |
STGY 5900 [0.5] | Corporate and Business Strategy | |
STGY 5903 [0.5] | Strategic Concepts | |
2. 1.75 credits in required concentration courses: | 1.75 | |
ECON 5051 [0.5] | Asset Pricing | |
ECON 5052 [0.5] | Financial Markets and Instruments | |
FINA 5512 [0.25] | Valuation | |
FINA 5513 [0.25] | Mergers and Acquisitions | |
FINA 5521 [0.25] | Financial Management Concentration Integration | |
3. 0.5 credit in elective concentration 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 | |
4. 0.75 credit in M.B.A. elective courses | 0.75 | |
5. 1.0 credit in: | 1.0 | |
BUSI 5999 [1.0] | Internship (Students with less than two (2) years of relevant professional employment experience must successfully complete the Internship in order to graduate. Students with two or more years relevant work experience may apply for an exemption.) | |
Total Credits | 10.0 |
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 (11.5 credits)
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: | ||
Requirements: | ||
1. 4.5 credits in: | 4.5 | |
ECON 6019 [0.5] | Mathematical Foundations for Economic Theory | |
ECON 6020 [0.5] | Economic Theory: Microeconomics | |
ECON 6021 [0.5] | Economic Theory: Macroeconomics | |
ECON 6027 [0.5] | Econometrics II | |
ECON 6900 [0.5] | Comprehensive Examination in Microeconomic Theory | |
ECON 6902 [0.5] | Comprehensive Examination in Macroeconomic Theory | |
ECON 6905 [0.5] | Comprehensive Examination in Primary Field | |
ECON 6907 [0.5] | Thesis Workshop I | |
ECON 6908 [0.5] | Thesis Workshop II | |
2. 2.0 credits in ECON electives | 2.0 | |
3. 5.0 credits in: | 5.0 | |
ECON 6909 [5.0] | Ph.D. Thesis | |
Total Credits | 11.5 |
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:
Econometrics
Econometrics | ||
ECON 5712 [0.5] | Micro-Econometrics | |
ECON 5713 [0.5] | Time-Series Econometrics | |
ECON 6714 [0.5] | Advanced Topics in Econometrics |
Economic Development
ECON 5500 [0.5] | Theory of Economic Development | |
ECON 5504 [0.5] | Economic Development: Domestic Aspects | |
ECON 5505 [0.5] | Economic Development: International Aspects |
Economics of the Environment
ECON 5803 [0.5] | Economics of Natural Resources | |
ECON 5804 [0.5] | Economics of the Environment | |
ECON 5805 [0.5] | Topics in Environmental and Resource Economics |
Industrial Organization
ECON 5301 [0.5] | Industrial Organization I | |
ECON 5303 [0.5] | Industrial Organization II | |
ECON 5304 [0.5] | Topics in Industrial Organization |
International Economics
ECON 5601 [0.5] | International Trade: Theory and Policy | |
ECON 5602 [0.5] | International Monetary Theory and Policy | |
ECON 5603 [0.5] | Topics in International Economics |
Labour Economics
ECON 5361 [0.5] | Labour Economics I | |
ECON 5362 [0.5] | Labour Economics II | |
ECON 5363 [0.5] | Advanced Topics in Labour Economics |
Monetary Economics
ECON 5606 [0.5] | Foundations of Monetary Economics | |
ECON 5607 [0.5] | Topics in Monetary Economics | |
ECON 5609 [0.5] | Explorations in Monetary Economics |
Public Economics
ECON 5401 [0.5] | Public Economics: Expenditures | |
ECON 5402 [0.5] | Public Economics: Taxation | |
ECON 5403 [0.5] | Topics in the Theory of Public Economics |
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.
Economics (ECON) Courses
Microeconomic Theory
An introduction to graduate-level microeconomic theory, including topics such as utility maximization and individual choice, decision-making under uncertainty, producer theory (technology, costs, and profit maximization), alternative market structures (competition, monopoly, and oligopoly), general equilibrium, and the economics of information.
Macroeconomic Theory
An introduction to graduate-level macroeconomic theory, including topics such as economic growth, consumption, investment, real and nominal frictions in the goods, labour, and credit markets, models of short-run economic fluctuations, and monetary and fiscal policy design.
Econometrics I
An introduction to econometrics at the graduate level. Topics include the analysis and treatment of univariate and multivariate regression models, GLS, IV, and maximum likelihood estimation, hypothesis testing, seemingly unrelated regression models, and simultaneous equations models, together with relevant economic applications.
Methods of Economic Research
Formulation, specification, and analysis of economic and econometric models; derivation of policy implications; communication of results and economic methodology.
Precludes additional credit for ECON 5006 (no longer offered).
Prerequisite(s): ECON 5020 (ECON 5000 if taken before 2012-2013, ECON 5001 if taken before 2007-2008) and ECON 5027 (ECON 5005 if taken before 2012-2013), or permission of the Department.
Asset Pricing
Value, the dynamic optimization problems of firms and investors, risk-neutral pricing, and related topics.
Financial Markets and Instruments
Capital structure, debt financing, options, financial planning, corporate governance, and related topics.
Financial Econometrics
The econometrics of empirical finance including parametric and nonparametric models of volatility, evaluation of asset-pricing theories, and models for risk management and transactions data.
Advanced Topics in Financial Economics
Current research in financial economics. Topics may include theoretical analysis, quantitative methods, policy issues, and applications to the financial industry.
Selected Topics in the History of Economic Thought
The development of economic thought through time in relation to selected economic problems.
Also offered at the undergraduate level, with different requirements, as ECON 4209, for which additional credit is precluded.
Economic History
The application of economic theory and quantitative techniques to selected topics in economic history, which may include historical patterns of growth and welfare, nineteenth-century globalization, technological change, the development of agriculture, industrialization, the Great Depression, and the origins of central banks.
Industrial Organization I
An examination of theories pertaining to industrial organization and their application by way of empirical studies. Topics include oligopoly theory, product differentiation, and strategic behaviour.
Industrial Organization II
Regulation and competition policy as alternative approaches for influencing industry conduct and performance and correcting market failures. Topics may include incentive regulation under asymmetric information, cost-based pricing, second-best pricing, peak-load pricing, rate-of-return regulation, price-cap regulation, access pricing, and regulatory capture.
Topics in Industrial Organization
Topics may include vertical restraints and vertical integration, innovation and research and development, network economics, contract theory, search theory and advertizing, and industry studies.
Applied Industrial Economics
The application of industrial economics, with special emphasis on Canada and the rest of North America. Topics include the structure of consumer demand, firm production and investment, industrial structure and international trade, and the effect of government policies on industrial development.
Labour Economics I
The application of microeconomic and macroeconomic theory to the labour market. Topics include labour supply and labour demand, wage determination, human capital, and the economics of education, and unemployment.
Labour Economics II
Personnel economics and contract theory. Topics include the economics of unions, discrimination, the economics of the household, gender and fertility, and labour mobility.
Advanced Topics in Labour Economics
Topics may include program evaluation, inequality, labour markets and health, labour markets and crime, and the structural estimation of labour market models.
Public Economics: Expenditures
The theory of public expenditures. Topics may include public goods and externalities, social insurance and redistribution, public provision of health care and education, public pension systems, and unemployment insurance.
Public Economics: Taxation
The study of tax systems. Concepts of equity and efficiency in taxation. The optimal design of tax structures using commodity, income, and capital taxes. Additional topics may include political economy of taxation, low-income support, environmental taxes, and tax evasion.
Topics in the Theory of Public Economics
Topics may include political economy, tax incidence in general equilibrium, the theory and practice of tax reform, normative approaches to income redistribution, the theory of non-market decision-making, the non-profit sector, and social choice theory.
Fiscal Federalism
Economic aspects of federalism, including efficiency, redistribution, consideration of a federal system of government, intergovernmental grants, and problems of stabilization policy in a federal context.
Cost-Benefit Analysis and Project Evaluation
Techniques and problems in cost-benefit analysis and the evaluation of public and private projects. Topics may include surplus measurement, investment decision rules, shadow pricing, the valuation of non-marketed goods, distributive weights, and the evaluation of projects involving uncertainty, loss of life, and/or population change.
Health Economics
Review of both classic and frontier work in the field of health and health care economics. Empirical work with an emphasis on theory and methodology. This course is also relevant to students interested in broader empirical microeconomic research.
Theory of Economic Development
Theoretical approaches of the economic development literature in relation to the historical, economic, environmental, social, and political dimensions of the development process.
Economic Development: Domestic Aspects
Major domestic problems of economic development. Topics may include employment, income distribution, choice of technology, sectoral allocation of resources, human resource development, and domestic environmental issues.
Economic Development: International Aspects
Key problems of international economic development such as trade in primary commodities and manufactures, financial flows and debt, the role of multinational corporations, the transfer of technology, and the international dimensions of environmental issues as they relate to developing countries.
Environmental Aspects of Economic Development
Policy aspects of sustainable economic development and environmental quality in developing countries. Topics may include energy use, deforestation, drought and desertification, depletion of natural resources, debt, environment and poverty, sustainable industrial and agricultural development, conservation policies, pollution control, and global environmental issues.
International Trade: Theory and Policy
International trade theory and its implications for economic policy, with emphasis on topics such as determinants of trade and specialization, gains from trade and commercial policy, international factor mobility, growth, and development.
International Monetary Theory and Policy
International monetary theory and its implications for economic policy, with emphasis on topics such as sources of equilibrium and disequilibrium in the balance of payments, balance-of-payments adjustment under fixed versus flexible exchange rates, international capital movements, and recent issues in the international monetary system.
Topics in International Economics
Selected topics in international economics, including theoretical analysis, quantitative methods, and policy formulation, implementation, and evaluation.
Foundations of Monetary Economics
Microeconomic foundations of monetary theory. Alternative theories of the existence of money and the micro-foundations for how money is integrated into aggregate macroeconomic models.
Topics in Monetary Economics
Coverage of one or more areas of current research on the frontiers of monetary economics.
Monetary Economics and Financial Intermediation
The evolution of the financial system and its interrelationship with the money supply process. Monetary and finance theory and empirical research applied to institutional problems in both historical and contemporary settings. Topics may include credit markets, financial instability, bubbles, and links to central bank policy.
Explorations in Monetary Economics
Explorations in theory, policy recommendations, and empirical study. Course material challenges traditional approaches by examining such topics as the endogeneity of money, the role of credit, financial instability, the circuit approach, flow-of-funds analysis, sectoral stock-flow coherence, and functional finance.
Social and Economic Measurement
Index number theory and national accounting. Topics may include: biases in indexes, inflation accounting, the theory of international comparisons, and the measurement of business and personal income, capital and depreciation, and productivity.
Micro-Econometrics
Analysis of the concepts and tools used in micro-econometrics with particular focus on empirical applicability. Topics may include discrete choice models, limited dependent variables, panel data, duration models, and program evaluation, together with relevant economic applications.
Prerequisite(s): ECON 5027 (or equivalent), or permission of the Department.
Time-Series Econometrics
Analysis of the concepts and tools used in time-series econometrics with particular focus on empirical applicability. Topics may include cointegration analysis, error-correction models, VAR models, volatility analysis, and non-linear time-series models, together with relevant economic applications.
Prerequisite(s): ECON 5027 (or equivalent), or permission of the Department.
Regional Economics
Regional economic disparities in Canada, theories and public policy relating thereto. Consideration will be given to the concept of regions, location of industry and industrial structure, and to growth determinants.
Urban Economics
The economic properties of urban areas. Attention will be focused on the macrodynamics of urban development, together with the microstatics of the equilibrium properties of the urban land market.
Economics of Natural Resources
The concept of scarcity rents in static and dynamic settings. Basic property regimes: open access, exclusive access and common property. Policy instruments. The importance of transaction costs. General-equilibrium and political-economic aspects of property regimes. Conflict. Elements of dynamic optimization. Renewable and non-renewable resources.
Economics of the Environment
Theory of environmental regulation, including command and control, incentive based mechanisms, effects of market structure, and interactions with pre-existing taxes. Valuation of non-marketed goods, including existence value, contingent valuation, hedonic price methods, health impacts, irreversibility, and recreational benefits.
Topics in Environmental and Resource Economics
Topics may include: international dimensions of environmental regulation, including treaties, competitiveness, and the effects of trade liberalization; development issues, including fiscal sustainability, Dutch disease, the resource curse, and population growth; resource topics, including optimal taxation, green national accounts, sustainability theory, and scarcity of extractive resources.
The Canadian Economy
Aspects and problems of the Canadian economy. Economic theory applied to the workings of the Canadian economy. Topics may include regional development, industrial organization, factor markets, natural resources, income distribution, international trade and capital flows, and macroeconomic stability.
Law and Economics
The interrelationships between law and economics, emphasizing transaction costs and property rights. Economic analysis of such topics as the allocative effects of alternative property rights, contract, tort, and nuisance law, and the economics of crime, pollution, pay television, and eminent domain.
Special Topics
Topics may vary from year to year and are announced in advance of the registration period.
Internship Placement
Internship students are required to register in this course during their work term.
Prerequisite(s): permission of the Department.
Directed Research
A substantial research paper is required of any student enrolled in this course, which is designed to facilitate the pursuit of research on a topic chosen in consultation with a faculty member and the relevant Graduate Supervisor.
Prerequisite(s): permission of the Department.
M.A. Thesis
Mathematical Foundations for Economic Theory
Mathematical techniques needed to understand micro- and macro-economic theory at the Ph.D. level, and to carry out research. Real analysis. Review of static optimization. Continuous- and discrete-time dynamic optimization in deterministic and stochastic environments. Applications to economic theory are presented.
Prerequisite(s): ECON 5020 (or equivalent) and ECON 5021 (or equivalent), or permission of the Department.
Economic Theory: Microeconomics
Advanced graduate-level microeconomic theory, including topics such as game theory, externalities and public goods, general equilibrium, and welfare.
Prerequisite(s): ECON 5020 (or equivalent) and ECON 6019.
Economic Theory: Macroeconomics
Advanced graduate-level macroeconomic theory with particular focus on dynamic general equilibrium models. Exposition of the main theoretical concepts and exploration of the basic structure underlying these models. Application to the study of household consumption decisions, firm investment decisions, and economic growth.
Prerequisite(s): ECON 5021 (or equivalent) and ECON 6019.
Econometrics II
Statistical foundations of econometrics: estimation, inference, and decision theory. Topics may include likelihood and moment-based inference, asymptotic theory, semi-parametric and non-parametric models, Bayesian approaches, and structural models, together with relevant economic applications.
Precludes additional credit for ECON 5701 (no longer offered) and ECON 6005 (no longer offered).
Prerequisite(s): ECON 5027 (or equivalent).
Advanced Topics in Econometrics
Coverage of one or more areas of current econometric research.
Comprehensive Examination in Microeconomic Theory
Comprehensive Examination in Macroeconomic Theory
Seminar Attendance
Directed Readings
This course is designed to permit students to pursue research on topics chosen in consultation with faculty members and the Ph.D. Supervisor.
Comprehensive Examination in Primary Field
Thesis Workshop I
Thesis Workshop II
Ph.D. Thesis
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
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.
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.
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
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.
Admission
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.