Programs

Students start in the Social Sciences Level 1 program or the Economics 1 program and apply to the Economics Honours BA Program at the end of their first year. Students must complete the requirements of a Level 1 program including two Level 1 Economics courses.

Completion of any Level I program with a Grade Point Average of at least 5.0 including an average of at least 5.0 in ECON 1B03 (or 1BX3) and 1BB3 (or 1BA3) and completion of one of ECON 1ME3, MATH 1MM3, 1A03, 1LS3.

For continuation in program, see the section on Minimum Requirement for Entering and Continuing in a Program Beyond Level I.

If a student misses the cut-off for enrolling in Level 2 Honours, he or she can enrol in the BA program for level II. The student can transfer to Honours when entering Level 3 if the GPA is at least 5.0 and the student has an average of at least 5.0 in the four intermediate theory courses ECON 2G03, 2GG3 (or 2Z03, 2ZZ3), 2H03 and 2HH3.  The student can transfer to Honours-Specialist Option when entering Level 3 if the GPA is at least 5.0 and the student has an average of at least 6.0 in the four intermediate theory courses ECON 2G03, 2GG3 (or 2Z03, 2ZZ3), 2H03 and 2HH3 with a grade of at least C in each of ECON 2GG3 (or 2ZZ3) and 2HH3.

To remain in programs beyond Level 2, and to graduate from them, students must maintain a GPA of at least 5.0 for the Honours B.A.

Undergraduate Scholarships, Bursaries and Awards

All undergraduate students accepted for admission to McMaster University are automatically considered for a McMaster University entrance award. Additional entrance awards, in-course scholarships, bursaries and other forms of financial assistance is available to you at various stages of their undergraduate careers.

Each scholarship, bursary, Government Aid or Work Study Program a has its own unique application process and requirements. More information on financial aid visit the Student Financial Aid & Scholarship (SFAS) Office.

Economics students are eligible for more than fifteen Scholarships and Awards.

Academic Counseling

Please e-mail Prof. O’Shaughnessy at econugchair@mcmaster.ca or our Undergraduate Administrative Assistant at econug@mcmaster.ca for support. 

Academic Advising

The Academic Advising office is run through the Office of the Associate Dean. The primary goal of the Advising Office is to provide all Social Sciences undergraduate students with the information and guidance they need to succeed in their academic careers.

Advisors can help you make the right academic decisions by explaining policies and regulations as well as presenting different options and supports available in your studies.

An academic advisor can assist you with:

• Course requirements, dropping and adding courses
• Program selection, application and changes
• Studying abroad
• Transfer credits
• Petitions for missed term work, deferred examinations and special consideration
• Appeals procedures
• Referral to other campus services

Learn more about Academic Advising in the Social Sciences.

Students start in the Social Sciences Level 1 program or Economics 1 program and apply to the Honours BA Specialist Program at the end of their first year. Students must complete the requirements of a Level 1 program including two Level 1 Economics courses.

Completion of any Level 1 program with a Grade Point Average of 5.0 (C) including an average of at least  5.0 (C) in ECON 1B03 and 1BA3/1BB3. For continuation in the program, see the section on Minimum Requirements for Entering and Continuing in a Program Beyond Level 1. Please refer to the undergraduate calendar for notes on admission to this program. 

Undergraduate Scholarships, Bursaries and Awards

All undergraduate students accepted for admission to McMaster University are automatically considered for a McMaster University entrance award. Additional entrance awards, in-course scholarships, bursaries and other forms of financial assistance is available to you at various stages of their undergraduate careers.

Each scholarship, bursary, Government Aid or Work Study Program a has its own unique application process and requirements. More information on financial aid visit the Student Financial Aid & Scholarship (SFAS) Office.

Economics students are eligible for more than fifteen Scholarships and Awards.

Academic Counseling

Please e-mail Prof. O’Shaughnessy at econugchair@mcmaster.ca or our Undergraduate Administrative Assistant at econug@mcmaster.ca for support.

Academic Advising

The Academic Advising office is run through the Office of the Associate Dean. The primary goal of the Advising Office is to provide all Social Sciences undergraduate students with the information and guidance they need to succeed in their academic careers.

Advisors can help you make the right academic decisions by explaining policies and regulations as well as presenting different options and supports available in your studies.

An academic advisor can assist you with:

• Course requirements, dropping and adding courses
• Program selection, application and changes
• Studying abroad
• Transfer credits
• Petitions for missed term work, deferred examinations and special consideration
• Appeals procedures
• Referral to other campus services

Learn more about Academic Advising in the Social Sciences.

Students start in the Social Sciences Level 1 program or Economics 1 program and apply to the Economics Honours BA Program at the end of their first year. Students must complete the requirements of a Level 1 program including two Level 1 Economics courses.

Completion of any Level I program with a Grade Point Average of at least 5.0 including an average of at least 5.0 in ECON 1B03 and 1BA3/1BB3. The satisfaction of admission requirements for the Honours program in the other B.A. subject. For continuation in the program, see Minimum Requirements for Entering and Continuing in a Program Beyond Level I.

Undergraduate Scholarships, Bursaries and Awards

All undergraduate students accepted for admission to McMaster University are automatically considered for a McMaster University entrance award. Additional entrance awards, in-course scholarships, bursaries and other forms of financial assistance is available to you at various stages of their undergraduate careers.

Each scholarship, bursary, Government Aid or Work Study Program a has its own unique application process and requirements. More information on financial aid visit the Student Financial Aid & Scholarship (SFAS) Office.

Economics students are eligible for more than fifteen Scholarships and Awards.

Academic Counseling

Please e-mail Prof. O’Shaughnessy at econugchair@mcmaster.ca or our Undergraduate Administrative Assistant at econug@mcmaster.ca for support.

Academic Advising

The Academic Advising office is run through the Office of the Associate Dean. The primary goal of the Advising Office is to provide all Social Sciences undergraduate students with the information and guidance they need to succeed in their academic careers.

Advisors can help you make the right academic decisions by explaining policies and regulations as well as presenting different options and supports available in your studies.

An academic advisor can assist you with:

• Course requirements, dropping and adding courses
• Program selection, application and changes
• Studying abroad
• Transfer credits
• Petitions for missed term work, deferred examinations and special consideration
• Appeals procedures
• Referral to other campus services

Learn more about Academic Advising in the Social Sciences.

Admission effective 2021-2022

Enrollment in this program is limited and possession of the published minimum requirements does not guarantee admission. Selection is based on academic achievement, completion of any Level I program with a Grade Point Average of at least 5.0, including an average of at least 5.0 in ECON 1B03 and 1BB3, and a weighted average of at least 5.0 in ECON 1B03 (or 1BX3), ECON 1BB3 (or 1BA3), COMPSCI 1MD3, 1JC3, 1XC3, and 1DM3; MATH 1A03, 1AA3, and 1B03. For continuation in the program, see Minimum Requirements for Entering and Continuing in a Program Beyond Level I. Beginning in September 2020, the Level II Economics programs will continue to permit entry for students who have completed any Level I program including the same required courses as Economics I.

Undergraduate Scholarships, Bursaries and Awards

All undergraduate students accepted for admission to McMaster University are automatically considered for a McMaster University entrance award. Additional entrance awards, in-course scholarships, bursaries and other forms of financial assistance is available to you at various stages of their undergraduate careers.

Each scholarship, bursary, Government Aid or Work Study Program a has its own unique application process and requirements. More information on financial aid visit the Student Financial Aid & Scholarship (SFAS) Office.

Economics students are eligible for more than fifteen Scholarships and Awards.

Academic Counseling

Please e-mail Prof. O’Shaughnessy at econugchair@mcmaster.ca or our Undergraduate Administrative Assistant at econug@mcmaster.ca for support.

Academic Advising

The Academic Advising office is run through the Office of the Associate Dean. The primary goal of the Advising Office is to provide all Social Sciences undergraduate students with the information and guidance they need to succeed in their academic careers.

Advisors can help you make the right academic decisions by explaining policies and regulations as well as presenting different options and supports available in your studies.

An academic advisor can assist you with:

• Course requirements, dropping and adding courses
• Program selection, application and changes
• Studying abroad
• Transfer credits
• Petitions for missed term work, deferred examinations and special consideration
• Appeals procedures
• Referral to other campus services

Learn more about Academic Advising in the Social Sciences.

Admission

Completion of any Level I program with a Grade Point Average of at least 5.0 including MATH 1A03 (or 1X03) an average of at least 5.0 in ECON 1B03 (or 1BX3) and 1BB3 (or 1BA3) and a grade of at least C+ in each of MATH 1AA3 (or 1XX3) and 1B03. For continuation in the program, see Minimum Requirements for Entering and Continuing in a Program Beyond Level I. Beginning in September 2020, the Level II Economics programs will continue to permit entry for students who have completed any Level I program including the same required courses as Economics I .

Undergraduate Scholarships, Bursaries and Awards

All undergraduate students accepted for admission to McMaster University are automatically considered for a McMaster University entrance award. Additional entrance awards, in-course scholarships, bursaries and other forms of financial assistance is available to you at various stages of their undergraduate careers.

Each scholarship, bursary, Government Aid or Work Study Program a has its own unique application process and requirements. More information on financial aid visit the Student Financial Aid & Scholarship (SFAS) Office.

Economics students are eligible for more than fifteen Scholarships and Awards.

Academic Counseling

Please e-mail Prof. O’Shaughnessy at econugchair@mcmaster.ca or our Undergraduate Administrative Assistant at econug@mcmaster.ca for support.

Academic Advising

The Academic Advising office is run through the Office of the Associate Dean. The primary goal of the Advising Office is to provide all Social Sciences undergraduate students with the information and guidance they need to succeed in their academic careers.

Advisors can help you make the right academic decisions by explaining policies and regulations as well as presenting different options and supports available in your studies.

An academic advisor can assist you with:

• Course requirements, dropping and adding courses
• Program selection, application and changes
• Studying abroad
• Transfer credits
• Petitions for missed term work, deferred examinations and special consideration
• Appeals procedures
• Referral to other campus services

Learn more about Academic Advising in the Social Sciences.

Admission

Completion of any Level I program with a Grade Point Average of at least 3.5 and an average of at least 4.0 in ECON 1B03 (or 1BX3) and 1BB3 (or 1BA3). Beginning in September 2020, the Level II Economics programs will continue to permit entry for students who have completed any Level I program including the same required courses as Economics I . 

Undergraduate Scholarships, Bursaries and Awards

All undergraduate students accepted for admission to McMaster University are automatically considered for a McMaster University entrance award. Additional entrance awards, in-course scholarships, bursaries and other forms of financial assistance is available to you at various stages of their undergraduate careers.

Each scholarship, bursary, Government Aid or Work Study Program a has its own unique application process and requirements. More information on financial aid visit the Student Financial Aid & Scholarship (SFAS) Office.

Economics students are eligible for more than fifteen Scholarships and Awards.

Academic Counseling

Please e-mail Prof. O’Shaughnessy at econugchair@mcmaster.ca or our Undergraduate Administrative Assistant at econug@mcmaster.ca for support.

Academic Advising

The Academic Advising office is run through the Office of the Associate Dean. The primary goal of the Advising Office is to provide all Social Sciences undergraduate students with the information and guidance they need to succeed in their academic careers.

Advisors can help you make the right academic decisions by explaining policies and regulations as well as presenting different options and supports available in your studies.

An academic advisor can assist you with:

• Course requirements, dropping and adding courses
• Program selection, application and changes
• Studying abroad
• Transfer credits
• Petitions for missed term work, deferred examinations and special consideration
• Appeals procedures
• Referral to other campus services

Learn more about Academic Advising in the Social Sciences.

Undergraduate Scholarships, Bursaries and Awards

All undergraduate students accepted for admission to McMaster University are automatically considered for a McMaster University entrance award. Additional entrance awards, in-course scholarships, bursaries and other forms of financial assistance is available to you at various stages of their undergraduate careers.

Each scholarship, bursary, Government Aid or Work Study Program a has its own unique application process and requirements. More information on financial aid visit the Student Financial Aid & Scholarship (SFAS) Office.

Academic Counseling

Please e-mail Prof. O’Shaughnessy at econugchair@mcmaster.ca or our Undergraduate Administrative Assistant at econug@mcmaster.ca for support.

Academic Advising

The Academic Advising office is run through the Office of the Associate Dean. The primary goal of the Advising Office is to provide all Social Sciences undergraduate students with the information and guidance they need to succeed in their academic careers.

Advisors can help you make the right academic decisions by explaining policies and regulations as well as presenting different options and supports available in your studies.

An academic advisor can assist you with:

• Course requirements, dropping and adding courses
• Program selection, application and changes
• Studying abroad
• Transfer credits
• Petitions for missed term work, deferred examinations and special consideration
• Appeals procedures
• Referral to other campus services

Learn more about Academic Advising in the Social Sciences.

The following courses are compulsory for MA in Economics students: 

• one course in microeconomics theory* (ECON 721) - offered in Fall
• one course in macroeconomic theory* (ECON 723) - offered in Fall
• two courses in econometrics (ECON 761 and ECON 762) - offered in Fall and offered in Winter
• a short course in mathematical methods (ECON 765) - offered first week of Fall*

In addition to these compulsory courses, students take four** electives during Fall and Winter.  Many of these elective courses provide students with an opportunity to undertake a substantial economic project of their own, most commonly but not exclusively, an original empirical economic analysis.  Such work is supported by research facilities affiliated with the department, such as the Secure Empirical Analysis Lab (SEAL), the Statistics Canada Research Data Centre (RDC), and the McMaster Experimental Economics Laboratory (McEEL). 

*All students registering in economics 721 (Micro Theory 1) or 723 (Macro Theory 1) are required to take the mathematics preparation course. The department offers an intensive ten-day refresher course in mathematics in August, prior to the start of regular graduate courses for the fall term. Students are tested regarding their mathematics preparation in a two part examination.  Part I covers topics related to 721-Micro Theory I and part II covers topics related to 723-Macro Theory I and matrix algebra.  Each part has it own final examination.  Students registered in 721 (723) must write the exam related to part I (part II).  A student’s score on the part I (part II) exam counts as 10% of the student’s final grade in 721-Micro Theory I (723-Macro Theory I ).

**MA students will have only space for one elective in the Fall term and they will have plenty of choice: 703, 710, 733, 751, 782 and 788. The program expects students to take their elective courses during Fall and Winter and no electives are offered in the summer. In the summer regular stream MA students will take Econ 701 to work on their final paper while WIL stream students will do a coop placement Econ 796.

***Incoming students are strongly encouraged to register for ECON 4T03, in the summer prior, in order to be well prepared for first term micro so the preparation is strong and recent.

https://gs.mcmaster.ca/how-to-apply/

Portal opening November 15, 2021

https://gs.mcmaster.ca/apply-now/

The minimum academic requirements for admission into the MA program is Honours BA in Economics. The university requires entering Master’s students to have maintained a B+ average in courses (relevant to the Master’s program they are entering) during the final two years of their undergraduate programs.

• Advanced microeconomics and macroeconomics courses (that is, at least one course in each beyond the full-year intermediate courses). The equivalent courses at McMaster are Econ 4T03 and Econ 4TT3.
• One upper-level (3rd year or above) university statistics or econometrics course, with econometrics preferred. The equivalent course at McMaster is Econ 3EE3. 
• Please note : If you only have a 3 year undergraduate degree, it will not be equivalent to an Honours BA. You are advised to take a year of 4th year courses or a one year MA and then consider applying again.  If you do to choose to apply with just the 3 year there is no guarantee of admission.

Successful applicants typically possess a major in Economics. However, a minor in Economics may also be acceptable, as the program is open to students who do not have an economics major but who have sufficient training in economics, mathematics and statistics (e.g., students with a minor in economics).

In order for your online application to be considered complete, please ensure the following items have been uploaded prior to submission:

• Letters of reference
• Scanned Copies of Official Transcripts - **Official transcripts are required only when offer has been made and accepted
• Statement of Interest
• C.V. (Curriculum Vitae)
• Application Fee
• **English proficiency requirements (if applicable)  Originals must be sent directly to the Department of Economics

A student whose native language is not English, and who has not completed an English-language degree in a predominantly English-speaking country, must submit a TOEFL or IELTS (Academic) score. The minimum acceptable TOEFL score for the Dept of Economics is 580 (237 on the computerized exam; 92 iBT); the minimum acceptable IELTS score is 7.5.  Please note, the minimum requirement for the Dept of Economics is higher than the School of Graduate Studies minimum of 6.5.

**If your transcript states the medium of instruction was English or you submit a letter with your application from the University stating your medium of instruction was English then that will waive your ELP requirement and a test result will not be required.**

Please note if you submit a score lower than 7.5, your application will not be reviewed. It is imperative that you meet the testing requirements noted above.

Two Letters of Reference

A complete application includes two confidential letters of recommendation from instructors most familiar with your academic work. McMaster University uses the Electronic Referencing System. You must enter the email addresses of your referees as part of the on-line application form. The system will automatically send an e-Reference request on your behalf to the referees.

As reference links are sent after your application is submitted, it is highly recommended that you apply at least one week before the January 15^th deadline, as this will allow for references and other documents be received in time.

Academic Transcripts

Applicants must provide one official transcript of academic work completed to date once offer has been accepted sent directly from the issuing institution.  

Statement of Interest

All applicants must provide a one-page statement (12pt font, single-space, 1-inch margins) explaining why you would like to pursue the M.A. in Economics at McMaster University.

For more information on this program please visit our FAQ's Section for the MA in Economics.

Tuition

Information on Graduate Program fees can be found on the Student Accounts and Cashier's website. To visit this page, click here.

Financial Aid

Internal

Students to whom we offer admission are automatically considered for financial assistance – no special forms need be filled out. Funding is awarded on academic excellence and the availability of funds. Funding is open to all domestic and international students.

External

Information on external scholarship support can be found at the following sites:

• Student Financial Aid and Scholarships
• Canada Graduate Scholarships - Master's Program
• School of Graduate Studies Scholarship Information
• Commonwealth Scholarships

Program of Study 

Candidates for the Master of Arts in Economic Policy must complete eight courses. The following five courses are mandatory:

• one course in microeconomics theory for public policy (ECON 727)
• one course in macroeconomic theory for public policy (ECON 728) 
• one course in econometrics (ECON 761 or 6G03 to be determined based on your current training) 
• a sequence of two courses in economic policy analysis (ECON 773 and ECON 774) 

In addition to these compulsory courses, students take three electives. In the Fall term students will choose two electives from  Econ 703, 710, 733, 751, 788 or one from outside the department if they do not want any of these (see the Courses tab below for a list). Those interested in Labour should choose Econ 781 in the Winter term. In the Winter term there is room for only one elective. In the summer, many students look for work placement in a coop position (Econ 796). Please note the department does not offer elective courses in the summer term. Many of these elective courses provide students with an opportunity to undertake a substantial economic project of their own, most commonly but not exclusively, an original empirical economic analysis.  Such work is supported by research facilities affiliated with the department, such as the Secure Empirical Analysis Laboratory (SEAL), the Statistics Canada Research Data Centre (RDC), and the McMaster Experimental Economics Laboratory (McEEL). Students in the M.A. in Economic Policy program who have successfully completed ECON 761 or Econ 6G03 may apply for the WIL stream associated with this degree program.   

Admissions & Applications:

https://gs.mcmaster.ca/how-to-apply/

Portal Opening November 15, 2021

https://gs.mcmaster.ca/apply-now/

Successful applicants will normally have an Honours Bachelor degree in Economics or its equivalent. The university requires entering Master’s students to have maintained a B+ average in courses (relevant to the Master’s program they are entering) during the final two years of their undergraduate programs.

• Please note : If you only have a 3 year undergraduate degree, it will not be equivalent to an Honours BA. You are advised to take a year of 4th year courses or a one year MA and then consider applying again.  If you do to choose to apply with just the 3 year there is no guarantee of admission.

In addition to the regular requirements of the Graduate School, applicants must have, at minimum:

• Two courses in microeconomics theory beyond introductory economics
• Two courses in macroeconomic theory beyond introductory economics
• A university calculus course
• One upper-level (3rd year or above) university statistics or econometrics course, with econometrics preferred

However, a minor in Economics may also be acceptable, as the program is open to students who do not have an economics major but who have sufficient training in economics, mathematics and statistics (e.g., students with a minor in economics).

In order for your online application to be considered complete, please ensure the following items have been uploaded prior to submission:

• Letters of reference
• Scanned Copies of Official Transcripts - **Official transcripts are required only when offer has been made and accepted
• Policy Statement
• Statement of Interest
• C.V. (Curriculum Vitae)
• Fee Payment
• **English proficiency requirements (if applicable)  Originals sent directly to the Department of Economics

A student whose native language is not English, and who has not completed an English-language degree in a predominantly English-speaking country, must submit a TOEFL or IELTS (Academic) score. The minimum acceptable TOEFL score for the Dept of Economics is 580 (237 on the computerized exam; 92 iBT); the minimum acceptable IELTS score is 7.5.  Please note, the minimum requirement for the Dept of Economics is higher than the School of Graduate Studies minimum of 6.5.

**If your transcript states the medium of instruction was English or you submit a letter with your application from the University stating your medium of instruction was English then that will waive your ELP requirement and a test result will not be required.**

Please note if you submit a score lower than 7.5, your application will not be reviewed. It is imperative that you meet the testing requirements noted above.

Two Letters of Reference

A complete application includes two confidential letters of recommendation from instructors most familiar with your academic work. McMaster University uses the Electronic Referencing System. You must enter the email addresses of your referees as part of the on-line application form. The system will automatically send an e-Reference request on your behalf to the referees.

As reference links are sent after your application is submitted, it is highly recommended that you apply at least one week before the January 15^th deadline, as this will allow for references and other documents be received in time.

Academic Transcripts

Applicants must provide one official transcript of academic work completed to date once offer has been accepted sent directly from the issuing institution. 

Policy Statement

Applicants must submit a policy statement that is a maximum of 2 pages single-spaced (1” margins, 12pt font) and that includes the following three components:

• A concise statement of the policy issue
• A description of how economic analysis might contribute to addressing the policy issue
• A statement of how you anticipate that the skills and knowledge gained through the Masters program will enable you to conduct an economic analysis of the policy issue

The statement should include your full name so that we can match it to the rest of your application.

Statement of Interest

All applicants must provide a one-page statement (12pt font, single-space, 1-inch margins) explaining why you would like to pursue the M.A. in Economics at McMaster University.

For more information on this program please visit our FAQ's section for the MA in Economic Policy.

Tuition

Information on Graduate Program fees can be found on the Student Accounts and Cashier's website. To visit this page, click here.

Financial Aid

Internal

Students to whom we offer admission are automatically considered for financial assistance – no special forms need be filled out. Funding is awarded on academic excellence and the availability of funds. Funding is open to all domestic and international students.

External

Information on external scholarship support can be found at the following sites:

• Student Financial Aid and Scholarships
• Canada Graduate Scholarships - Master's Program
• School of Graduate Studies Scholarship Information
• Commonwealth Scholarships

Phase 1

The first phase is passing the comprehensive exams in microeconomics and macroeconomic theory. Students must complete the following courses:

• two microeconomics theory courses (Economics 721** and 722)
• two macroeconomic theory courses (Economics 723** and 724)
• two econometrics courses (Economics 761* and 762)
• Econ 765 (as it is a required course)
• elective courses must be passed prior to writing comprehensive examinations in any area (see phase 2)

Students entering the PhD program from our MA in Economics program will already have completed the required courses and two electives; such students would require approximately six more electives. Students entering the PhD program from another university may be given credit for Economics 761 provide they pass the econometrics waiver exam.  Electives must be chosen so that the student satisfies the coursework requirements of his or her chosen fields for comprehensive exams (see the list below).  Most electives are chosen from those offered by the department of economics, but a student is allowed to take up to two graduate courses offered by other departments, with the approval of the graduate chair (economics) and of the course instructor. Students in recent years, for example, have taken finance courses offered by the DeGroote School of Business, health-related courses offered by the Faculty of Health Sciences, and statistics courses offered by the Department of Mathematics and Statistics.

The comprehensive exams in micro and macro theory are normally written in May or June following the satisfactory completion of the first year of coursework.

Phase 2

The second phase is passing the comprehensive exams in two areas of specialization and writing a research paper. Certain courses, selected at the discretion of the field examination committee, must be completed before attempting these exams. The usual areas of specialization, and typical course requirement for each of them, are given below however additional areas of specialization in which the department has research strength may be allowed with the permission of the graduate chair if they are based on courses offered by the department.

Currently the available fields are:

• Econometrics
• Growth and Monetary Economics
• Health Economics
• International Economics
• Labour Economics
• Population Economics
• Public Economics

Comprehensive field exams are normally written after the satisfactory completion of the second year of coursework. Candidates are allowed up to two attempts to pass each comprehensive exam. Students must complete the micro and macro theory comprehensive exams within 18 months of starting the program. All comprehensive exams must be completed within 24 months of starting the program. The research paper requirement must be met within twenty-seven months of entering the doctoral program. The research paper will be presented in the Fall term during the PhD workshop discussed below. The research paper must be accepted by the supervisory committee.

Phase 3

The third phase is the thesis. A student may choose to take additional courses at this stage if the courses are germane to the student’s proposed research. Up to four half courses may be taken outside of the department with the approval of the Graduate Chair. In addition to writing a thesis and taking courses, students must achieve the Active Researcher Milestone which involves participating in the department’s research activities (for example, by attending seminars, PhD workshops and meeting with visiting speakers) and regularly presenting their research. The Active Researcher Milestone must be achieved annually until graduation.

A student at this stage is required to complete the following seminar courses. Students who have passed all their comprehensive examinations should register for Econ 798 in the Fall term that immediately follows and present the research paper. Doctoral students typically take a total of 12-14 graduate courses at this university.

ECON 798: Workshops in Economics I
ECON 799: Workshops in Economics II

Co-op Option Students in the Ph.D program who have successfully completed the comprehensive examinations may apply for the co-op option associated with this degree program. The number of students who will be accepted will be small and will depend on available placements.  To complete the Ph.D. co-op option, the student must work a total of eight months in either one or two placements and successfully complete both ECON 796 Economics Co-op Work Term I and ECON 797 Economics Co-op Work Term II.

Note:

• *A student who has a particularly strong background in econometrics can elect to write the econometrics waiver exam. Students who pass the waiver exam are allowed to replace economics 761 (term 1 of econometrics) with an elective course. Such students take economics 762 in term 2 and complete the econometrics project. Credit for economics 761 will appear on their transcripts.
• **All students registering in economics 721 (Micro Theory 1) or 723 (Macro Theory 1) are encouraged to take the mathematics preparation course Economics 765, an intensive ten-day refresher course in mathematics. This course is given in August, prior to the start of regular graduate courses for the fall term.   After the completion of this course, students are tested regarding their mathematics preparation.  The course has two parts.  Part I covers topics related to 721-Micro Theory I and part II covers topics related to 723-Macro Theory I and matrix algebra.  Each part has it own final examination.  Students registered in 721 (723) must write the exam related to part I (part II).  A student’s score on the part I (part II) exam counts as 10% of the student’s final grade in 721-Micro Theory I (723-Macro Theory I). 
• ***Incoming students are strongly encouraged to register for ECON 4T03 in order to be well prepared for first term micro so the preparation is strong and recent

Admission Requirements for the Ph.D. Program

https://gs.mcmaster.ca/how-to-apply/

Portal opening November 15, 2021

https://gs.mcmaster.ca/apply-now/

As a minimum, a standard Canadian entrant into our PhD program will have a Masters degree in economics from a recognized university and will have maintained B+ average in their master’s study. We emphasize that these are minimum standards; those admitted typically have stronger academic records.

Students from foreign universities are expected to have equivalent backgrounds. Although equivalency is difficult to determine, here are some guidelines for a few countries from which we commonly receive inquiries:

• India: First class standing for the Bachelors degree and upper-second-class standing in the Masters degree.
• Bangladesh and Pakistan: First-class standing in both the bachelors and masters degrees.
• China: A four-year degree with an average of at least 85%. The subject area must be ECONOMICS, not business. Strong skills in mathematics and statistics/econometrics are expected.

A student whose native language is not English, and who has not completed an English-language degree in a predominantly English-speaking country, must submit a TOEFL or IELTS score. The minimum acceptable TOEFL score for the Dept of Economics is 580 (237 on the computerized exam; 92 iBT); the minimum acceptable IELTS score is 7.5.  Please note, the minimum requirement for the Dept of Economics is higher than the School of Graduate Studies minimum of 6.5.

If you have any questions email them to econgrd@mcmaster.ca. Please be patient all emails will be answered.

**If your transcript states the medium of instruction was English or you submit a letter with your application from the University stating your medium of instruction was English then that will waive your ELP requirement and a test result will not be required**

Please note if you submit a score lower than 7.5, your application will not be reviewed. It is imperative that you meet the testing requirements noted above. 

Required Document Checklist

• Application Form and Fee
• Two letters of reference
• Academic transcripts
• Statement of interest
• Writing Sample (Paper or Essay - there is no minimum words and it must be single author)
• CV/ Resume

As reference links are sent after your application is submitted, it is highly recommended that you apply at least one week before the January 15^th deadline, as this will allow for references and other documents be received in time.

For more information on this program please visit our FAQ's section for the PhD in Economics.

Information on Graduate Program fees can be found on the Student Accounts and Cashier's website. To visit this page, click here.

Financial Aid

Internal

Students to whom we offer admission are automatically considered for financial assistance – no special forms need be filled out. Funding is awarded on academic excellence and the availability of funds. Funding is open to all domestic and international students.

All students admitted to the PhD program are offered two forms of financial assistance. The first is a Teaching Assistant (TA) position, which normally requires the student to perform 130 hours of marking or tutoring in each of the fall and winter terms. The second is scholarship support. In addition, many upper-year PhD students receive support in the form of a Research Assistantship (RA) in lieu of a TA, in which they work on a research project with a faculty member. The minimum annual financial assistance provided to a PhD student is $17,500 during each of first four years of doctoral study. If a student’s study extends beyond four years, financial assistance as a TA or RA may be available, but it is not guaranteed. Finally, in addition to the financial assistance provided in a letter of offer, students are eligible for TA and RA positions during the spring and summer terms, which provides support above that available during the Fall and Winter terms.

External

Trudeau Scholarship: Students in the 1st or 2nd year of the doctoral program or those applying to the doctoral program are eligible. For more information regarding eligibility and the application process, please click here.

Additional information on external scholarship support can be found at the following sites:

• Student Financial Aid and Scholarships
• SSHRC Doctoral Scholarships and Fellowships
• School of Graduate Studies Scholarship Information
• Commonwealth Scholarships