The Honours Bachelor of Arts in Economics is an undergraduate degree that provides you with an opportunity to develop a deeper understanding of the discipline. It has more demanding theory and quantitative requirements. If you excel in your first two years of study with an overall GPA of 3.3 or better, you should seriously consider the Honours stream. In addition to the extra prestige of an Honours degree and the associated job-market benefits, this degree opens the option of completing a Masters degree quickly—usually within one calendar year—and then pursuing a career as a professional economist. To complete the Honours degree in an orderly fashion, you should normally apply to enter the program after your first or second year. The admission requirement is completion of at least five full-course equivalents with a GPA of at least 3.3 over the most recent five full-course equivalents and a GPA of at least 3.30 over all courses at the University of Calgary and courses at other institutions that are applicable to degree requirements. Application are normally made at the time of Fall Session registration. The Honours Advisor can provide additional information and guidance and assist you with your application.

**Program Requirements: Department of Economics**

To obtain an honours degree in Economics, students are required to complete a minimum of 10.0 full course equivalents (FCE's) and a maximum of 12.0 FCE's in Economics. Of these the following courses are required:

1. Principles Courses

Econ 201 Principles of Microeconomics

Econ 203 Principles of Macroeconomics

2. Intermediate Theory

Econ 301 Intermediate Economic Theory—Microeconomics I

Econ 303 Intermediate Economic Theory—Macroeconomics I

Econ 357 Intermediate Economic Theory—Microeconomics II

Econ 359 Intermediate Economic Theory—Macroeconomics II

3. Econometrics

Econ 395 Use of Statistics in Economics**Econ 495/497 Econometrics I/Econometrics II**

4. Mathematical Economics**Econ 387 Introduction to Mathematical Economics IEcon 389 Introduction to Mathematical Economics II**

5. Applications

1.5 FCE's at the 400 or 500 level with Economics 301, 303, 357 or 359 as prerequisites.

6. Advanced Theory**Econ 557 Topics in Economic Theory IEcon 559 Topics in Economic Theory II**

7. Additional

2-4 additional FCE's economics courses at the 300 level or above.

**Program Requirements: Departmental External Requirements**

External requirements required by the Faculty of Arts for an honours degree are the same as for the Major (see Section 6.2 for details). The external requirements required by the Department of Economics for an honours degree in Economics are:

1. Mathematics

Math 249 Introductory Calculus or Math 265 Calculus I**Math 211 Linear Methods I**

2. Statistics

Stats 213 Introduction to Statistics I or Stat 205 Introduction to Statistical Theory

Courses required in the Honours stream, but not the Major, are shown in bold-faced type. At advanced levels of economic analysis, mathematics becomes an important tool for systematic modeling. Mathematics 211 is a linear algebra course that leads to an understanding of how systems of equations can be solved simultaneously, which is important for both theoretical modelling and econometrics. Economics 387 and 389 form a two-course sequence in mathematical economics where you will combine your algebra and calculus skills with economic analysis. Math 211 and Math 249 or 251 are prerequisites for Economics 387, while Economics 301 and 303 are co-requisites. Economics 387 is in turn required for Economics 389. Economics 495/497, 557 and 559 provide capstone experiences in econometrics, microeconomic theory and macroeconomic theory, which will deepen your ability to understand and analyze economic questions. Economics 301, 303 and 395 plus Math 211 are prerequisites for Economics 495/497; Economics 357 and 389 are prerequisites for Economics 557; and Economics 395, 359 and 389 are prerequisites for Economics 559. Students interested in the Honours degree should note that Econ 557 and Econ 559 are normally done in the fourth year of study and that this requires that Econ 387 and 389 be completed in the third year of study. Moreover, it is not recommended that Honours students take any of their required economics courses in Spring/Summer. Table 5 illustrates the degree requirements and recommended sequencing for an Honours degree in Economics.

In addition to the specific courses listed previously, the Honours program requires that you complete three half-course equivalents at the 400 level or above having Economics 301, 303, 357 or 359 as a prerequisite. It is recommended that you include Economics 471 in your program because this course includes material on game theory and market structure that is valuable if you decide to pursue a Masters degree. You would normally complete five additional half-course economics electives for a total of 20 half-course equivalents in economics. You may, however, elect to complete up to a maximum of 24 half-course equivalents in economics, or you may receive approval for a program with as few as 16 half-course equivalents if you pursue an acceptable minor or a concentration of at least 6 half courses in a related field.

A minimum GPA of 3.3 must be maintained over all courses and all economics courses. A 3.3 GPA must also be maintained year by year. Not more than 2 half-course equivalent D or D+ grades in Economics are allowed. Unlike the Major, some time limits apply to the completion of Honours Degrees in the Faculty of Arts (see the University of Calgary Calendar for details).