Economics Major Reset. The Arts Major Reset in Economics October 27, 2015

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1 Economics Major Reset The Arts Major Reset in Economics October 27, 2015

2

3 The New Curriculum changes in plan requirements in accordance with the new Arts guidelines: 16 courses in major (4yr general, honours) identical course requirements in 4yr & honours 4yr: 65% MAV; honours 70% MAV Intensive Specialization with additional 5 courses and a 75% MAV

4 Rethought sequencing and delivery of material to promote student success: mandatory initial Math (Econ 211) and Stats (Econ 221) that will then be consistently used in later courses tutorials for Math and Stats for more hands-on learning 2 Econometrics courses with more applied focus and more exposure to data and working with data and statistical software tutorial for the first econometrics course to help with software familiarity and use

5 Three new Theory courses at the same mathematical level organized around topics: choice, markets, failures of markets Two new macro courses that follow the theory sequence New electives at the 200 level without math prerequisites More consistent use of requisites material in 400 level electives

6 The New 4yr and honours min of 16 courses ECON; 65% / 70% MAV Econ 101, 102 (Intro) Econ 211, 221 (Quantitative) Econ 290, 391, 393 (Theory) Econ 322, 323 (Econometrics) Econ 306, 1of {406,407,408,409} (Macro) level electives any other three electives OTHER than Econ 201

7 Intensive Specialization Meant as Grad school prep and for jobs with higher quantitative demands 75% MAV on at least 21courses Honours courses PLUS Econ 392 (Theory: Strategic/Welfare) Econ 421 (Econometric Theory) Econ 491 (Advanced Micro Theory) Econ 496 (Advanced Macro Theory) Econ 472 (Honours Research Thesis)

8 Mathematical Economics minimum of 16 courses ECON; 70%MAV Econ 101, 102 (Intro) Econ 290, 391, 392, 393, 491 (Theory) Econ 306, 1of { }, 496 (Macro) level electives Econ 472 (Research Paper) any other three electives OTHER than Econ 201 math requirements as before

9 No more 3yr General For three year degrees Liberal Studies is available with an Econ Minor Students who are in Arts now and who are not first year students now can be allowed back into the old 3yr general IF they have the required old plan courses.

10 Econ Minor min of 8 courses ECON; 65% MAV Econ 101, 102 (Intro) Econ 201 (Theory) one of Econ 206, Econ 207 (Macro) Econ electives

11 New Plans - MANDATORY for First year Arts students admitted Fall 2015 All students admitted to Arts Fall 2016 and after NOT available for students admitted for upgrading or completing their existing degree a POSSIBLE option for other students who are getting credit for at least one course in Fall 2016

12 Switching to new Plans existing students who already have Econ courses on their transcripts may switch to a new plan due to the significant changes in required course numbers, economics will allow block substitution of required courses

13 Block substitution Block refers to a group of courses towards a curricular objective: theory, macro, econometrics, etc Due to changes in sequencing of material across courses, it is not possible to combine old sequence and new sequence courses within theory and macro

14 not all blocks have to be substituted - for example, students can substitute the old theory block but follow the new econometrics block because the new macro courses require the new theory sequence, usually the macro block is a required substitution for those switching into the new plans

15

16 Blocks Intro old: Econ 101, Econ 102 new: Econ 101, Econ 102 no substitution necessary Quantitative old: Econ 211, Econ 221 new: Econ 211, Econ 221 no substitution necessary

17 Theory Block old 4yr: Econ 201, Econ 301 old hon: Econ 201, Econ 301, Econ 401 New: Econ 290, Econ 391, Econ 392 approved substitution: all three of Econ 201, Econ 301, Econ 401

18 Macro Block old 4yr: Econ 202, Econ 302 old hon: Econ 202, Econ 302, Econ 402 new: Econ 306, Econ { } approved substitution: Econ 302, Econ 402 Note: 306 requires 391 and 290, so likely all students are better off substituting this block

19 Econometrics Block old 4yr: Econ 321 old hon: Econ 321 new: Econ 322, Econ 323 approved substitution: both of Econ 321 and the new Econ 323 Note: 321 won t be offered starting F16, students who do not switch can use 322 instead of 321

20 Electives Blocks old 4yr: two 400 +, one 300+, two any old hon: five 300+, two any new: two 400+, three any level; Econ 201 does not count as an elective approved substitution: two 400+ : NOT 401, 402 three any level: NOT Econ 201 (Econ 202 ok)

21 Difficult to switch into Intensive Specialization requires courses that won t be scheduled until Winter 2018 Mathematical Economics requires courses that won t be scheduled in Winter 2018 Note: course availability may yet change

22 Co-op plans precise details yet to be determined Students in good standing in co-op in old plan can likely switch to new plan Students out of co-op (average too low) likely unable to resume co-op by changing plan dates For details, keep watching the Arts Reset website for updates

23 Other considerations Specializations: open to all NEW plans including MathEcon all require 4 courses can follow an old specialization while on a new plan need to do a plan mod into the old specialization before Sep 2016 to lock it in, otherwise graduating calendar rules apply students who do not switch can do a new specialization

24 No matter what, there will be more limited timetable choice in the future. Once we know, I will post expected and confirmed terms for when courses are offered. Known course deactivations Fall , 304, 355, 365, 411, 465 Econ 321 will not be offered starting Fall replaced with Econ 322 which can count in the old plans as 321 substitute

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