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Future Students

Faculty of Social Sciences

Economics I

Step 1 – Begin Your First Year In Economics I (Direct Entry)

Welcome to Economics I: your first-year launchpad into studying economics, data, and decision-making.

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Economics I is your entry point into understanding how choices shape our world – from individual behaviour to global markets. If you’re curious about how policies influence society, how data informs decisions, or how economic systems evolve, this is where your journey begins.

In your first year, you’ll build a strong foundation in economic theory and quantitative reasoning while connecting with peers who share your interest in how the world works. You’ll also have the support of professors who challenge your thinking and advisors who help you navigate your academic options.

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Admission At A Glance

OUAC Application Code: MLE
Anticipated Admission Average: Low-to-mid 80s
Target Enrolment: 125 students

Ontario Admission Requirements:

  • Six 4U/M courses, including:
  • English 4U
  • Advanced Functions 4U
  • Calculus and Vectors 4U

No supplementary application required

If you’re planning ahead, McMaster’s tuition and fees estimator can help you get a clearer picture of your first-year costs.

Step 2 – Your First-Year (Level I) Curriculum & Exploration

Your first year in Economics I gives you a strong foundation in economic theory, quantitative reasoning, and analytical thinking – while still leaving room to explore courses across the Social Sciences and beyond. Whether you’re planning to continue in Economics, pursue co-op, join the accelerated stream, or combine Economics with another discipline, Level I sets you up for success.

Your Core Economics I Courses

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All Economics I students complete three foundational courses that introduce the core ideas and tools of the discipline:

These courses build your understanding of markets, economic behaviour, and the mathematical frameworks used to analyze real-world problems. They also serve as prerequisites for upper-year Economics programs.

Breadth Requirements & Electives

Alongside your core economics courses, you’ll take a mix of Social Sciences courses and open electives to round out your first-year schedule. This structure gives you the flexibility to explore subjects that complement economics – such as political science, sociology, psychology, or Indigenous studies – or to branch out into Humanities, Science, or other Faculties.

Your electives are a chance to discover new interests, strengthen your quantitative skills, or build interdisciplinary connections that support your long-term goals.

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Accelerated Honours Economics (New Option)

If you’re a high-achieving student looking for a faster, more intensive pathway, you can apply to the Accelerated Honours Economics program at the end of your first year. This option allows you to complete your Honours Economics degree in a reduced timeframe by taking a more advanced sequence of courses beginning in Level II.

Students interested in the accelerated pathway should:

  • Complete the three core Economics I courses
  • Maintain a strong academic record in first year
  • Review the program’s specific progression requirements
  • Plan early with an academic advisor to ensure they meet all prerequisites

This pathway is ideal for students who want a more rigorous, fast-paced economics curriculum – especially those considering graduate studies or quantitative careers.

Pathways For Combined Programs

If you’re considering a combined program, your first-year course choices may look a little different. Here’s how the pathways typically begin:

Economics & Computer Science

Students interested in this combined program usually take:

  • The three core Economics I courses
  • Introductory programming (e.g., COMPSCI 1MD3 or equivalent)
  • First-year math requirements (e.g., Calculus, Linear Algebra)

Economics & Mathematics

Students on this track typically complete:

  • The three core Economics I courses
  • Calculus, Linear Algebra, and other first-year math requirements
  • Additional quantitative electives as recommended by the Math & Stats department

Step 3 – End Of First Year: Choose Your Economics Pathway

At the end of your first year in Economics I, you will not need to apply into the standard Honours B.A. Economics program.

Students in Economics I are automatically placed into Honours Economics unless they choose to apply to a different upper-year option.

If you want to pursue a specialized, combined, or co-op pathway, you’ll submit an application during the Level II Program Selection period – the same time all Social Sciences students apply for their upper-year programs.

Upper-Year Economics Degree Options You Can Apply To

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McMaster offers a wide range of Economics pathways. Applications are required for the following programs:

These options allow you to tailor your degree toward policy, data analytics, quantitative economics, interdisciplinary study, or preparation for graduate school.

Applying To Co-op At The Same Time

If you’re interested in gaining paid work experience during your degree, you can apply to the Honours Economics Co-op program at the end of your first year. Co-op applications open through the Faculty of Social Sciences’ Careers & Experiential Education office.

If accepted, your degree will follow a structured five-year plan that alternates between academic terms and paid work placements – giving you hands-on experience in fields like finance, policy, consulting, data analysis, and more.

Step 4 – Choose Your Path: Program & Specialization Options

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As you move into Level II, you’ll choose the Economics pathway that best fits your interests, goals, and learning style. Each option offers a different balance of theory, quantitative depth, interdisciplinary study, and real?world experience.

Below is an overview of the major pathways available to Economics students, along with what each is best suited for.

Honours Economics (B.A.) Learn more

A flexible, well-rounded degree that blends core economic theory with applied coursework. This program is ideal if you want a strong foundation for careers in policy, business, law, public administration, or graduate studies in applied economics.

Good for:

  • Students who want a balanced, comprehensive economics education
  • Those considering careers in policy, consulting, business, or public service
  • Students who want room for electives or interdisciplinary exploration

Honours Economics (Co-op) Learn more

This pathway adds three full-time paid work terms, giving you hands-on experience in fields like finance, data analysis, consulting, and policy. Co-op is a structured, transcript-recognized program supported by McMaster’s Careers & Experiential Education office.

Good for:

  • Students who want industry experience before graduation
  • Those interested in data-driven roles, finance, consulting, or government work
  • Students who want to build a professional network while studying

Honours Economics - Specialist Option Learn more

A more mathematically rigorous version of the Honours program. Specialist students take advanced econometrics courses (e.g., Econometrics I – ECON 3EE3) that prepare them for graduate-level economics and quantitative research.

Good for:

  • Students aiming for graduate school (MA/PhD in Economics)
  • Those who enjoy mathematical modelling, theory, and quantitative analysis
  • Students who want deeper training in econometrics and advanced methods

Accelerated Honours Economics Learn more

A fast-paced option that allows high-achieving students to complete their Honours Economics degree in a shorter timeframe. Students begin an advanced course sequence earlier and must meet specific academic requirements (as outlined on the program page).

Good for:

  • High-performing students seeking an intensive, efficient pathway
  • Those planning for graduate studies or quantitative careers
  • Students who want to progress through the degree more quickly

Combined Honours Economics & Computer Science (B.A.) Learn more

This interdisciplinary program blends economic theory with programming, algorithms, and computational thinking. It provides a strong foundation for careers at the intersection of data, tech, and economic analysis.

Good for:

  • Students interested in data science, tech policy, or computational economics
  • Those who want both economic insight and technical skills
  • Students considering careers in analytics, software-adjacent roles, or fintech

Honours Economics & Mathematics (B.A.) Learn more

A quantitatively intensive program that merges economic theory with advanced mathematics. It’s designed for students who want strong analytical training and preparation for graduate-level economics or quantitative careers.

Good for:

  • Students who enjoy calculus, linear algebra, and mathematical modelling
  • Those planning to pursue graduate studies in economics
  • Students interested in research, analytics, or quantitative finance

Combined Honours Economics & Another Subject (B.A.) Learn more

Economics can be paired with many other disciplines across the Social Sciences and beyond. This option allows you to build an interdisciplinary degree tailored to your interests.

Good for:

  • Students who want to connect economics with fields like political science, sociology, philosophy, or geography
  • Those interested in interdisciplinary policy work or broad social analysis
  • Students who want flexibility and breadth

Economics (General B.A.) Learn more

A three-year degree option that provides a broad introduction to economics without the intensity of the Honours stream. It offers flexibility and a shorter time to completion.

Good for:

  • Students seeking a less intensive economics pathway
  • Those who want a shorter degree with room for electives
  • Students planning to enter the workforce sooner

Step 5 – Planning & Support: What To Do In First Year

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Your first year in Economics I is your chance to build a strong academic foundation, explore your interests, and set yourself up for success in upper-year programs. Here are some key supports and strategies to help you make the most of it.

Connect With Academic Advising Early Speak With An Advisor Today

The Faculty of Social Sciences’ Academic Advising & Support team is available throughout the year to help you plan your courses, understand program requirements, and map out pathways like co-op or combined degrees. You can drop in, book an appointment, or meet virtually – whatever works best for you.

Here’s how advising can support you in first year:

  • Meet with an advisor early to plan your first-year schedule
  • Check prerequisites for programs like co-op, specialist, or combined degrees
  • Get help choosing electives that keep your options open

Advisors are your best resource for making sure you’re on track for the Level II program you want.

Strengthen Your Math Foundation

Economics I requires Advanced Functions 4U and Calculus & Vectors 4U, and the program emphasizes quantitative reasoning from the start. The Future Students page highlights that first-year economics includes a strong foundation in economic theory, math, and critical thinking.

A solid math background will help you succeed in:

If you’re feeling unsure about your math readiness, advisors can help you choose supportive electives or resources.

Use Electives To Explore & Stay Flexible

Even though Economics I is more structured than Social Sciences I, you still have room for Social Sciences courses and open electives. The Future Students page emphasizes that first-year economics includes exploring other Social Sciences courses to broaden your perspective.

Electives are a great way to:

  • Try out other disciplines if you’re considering a combined degree
  • Build complementary skills in areas like politics, psychology, or data science
  • Keep pathways open in case your interests shift

Exploration is part of the process – and your first year is the perfect time to test out what resonates.