Economics

Economics is a social science dedicated to the study of decision-making under scarcity, and the factors that influence wealth. Economics involves financial topics and broader historical, sociological and cultural topics ranging from the individual (microeconomics) to governments, industries and central banking (macroeconomics). This extensive and multidisciplinary study of the economy is what sets it apart from other seemingly similar topics such as Business or Finance.

As an economics student you will gain insight into the long-term effects of policy on communities by studying:

  • Resource Allocation
  • Current Policy Debates
  • Statistics
  • Economic Theory
  • Incentives
  • Econometrics
  • Decision-Making 

You will also gain a marketable edge through field and speciality courses focused on labour, natural resources and industrial organisation. The natural ebb and flow of the economy means that economics is a changing and dynamic field. Our continually updated course content reflects new theories, information and current events impacting the Economics field. Mathematics is a large component of many of our Economics courses; therefore, our recommendation is that you have some knowledge and skill in the area.

Lakehead Advantage

Our small class sizes facilitate individual attention from professors and a student-centred learning environment conducive to exploring new ways of thinking. Our core faculty members are leaders in their field and active researchers on an international scale. Each year we offer special topics courses that coincide with the needs and interests of both our students and our faculty. These courses provide learning and research opportunities unique to our institution. 

We offer a Natural Resource Economics course that is very popular among our Economics and Environmental Studies students, as well as those interested in pursuing a Law degree. This course examines the following topics:

  • Renewable and non-renewable resources
  • Theory of resource exhaustion
  • Scarcity indicators
  • Forests and fisheries management
  • Resource taxation
  • Canadian economy

We offer the option to combine your Economics degree with studies in Mathematics, Political Science or Business Administration. We also have an undergraduate degree (HBSc) in Resource and Environmental Economics

Applying to Lakehead University is easy and we are here to help you along the way.

Step 1 – Determine your general admission requirements:

To determine your general admission requirements, select one of the definitions below:

Ontario High School Students
 General Admission Requirements:
  • Completion of the Ontario Secondary School Diploma (OSSD);
  • A minimum of 6 Grade 12U or M courses, or equivalent, including program specific prerequisite courses;
  • A minimum 70%* overall final average**

*Higher averages may be required for admission to programs in which the demand for places by qualified applicants exceeds the supply of available spaces.
**Admission averages are calculated using the top 6 Grade 12 U or M courses.  

Other Canadian High School Students
 General Admission Requirements: 
  • Completion of Grade 12 and the Secondary School Diploma (see the Program Specific Prerequisites section for your particular provinces requirements);
  • Program specific prerequisite courses;
  • A minimum 70%* overall final average

*Higher averages may be required for admission to programs in which the demand for places by qualified applicants exceeds the supply of available spaces.

International HS/ College or University
 General Admission Requirements:
  • Successful graduation from an academic secondary school program or equivalent (For most countries, the same academic preparation as is required for university entrance in that country is required for consideration. Refer to Admission Requirements by Country.) 
  • Program specific prerequisite courses;
  • Equivalent of a minimum 70% overall final average (Canadian)

    Note: Meeting the minimum admission requirements is not a guarantee of admission.

Canadian College
 General Admission Requirements:

College transfer applicants who are applying to a program that does not have a college transfer pathway are eligible for admission consideration if they have:

  • Completed a minimum of 1 year of full-time academic studies at an accredited community college since leaving high school;
  • Completed the appropriate program-specific prerequisite courses; and
  • Achieved a minimum overall average of 70%. 
Canadian University
 General Admission Requirements:
  • Attended a university and successful completion of university level course work since leaving high school/college;
  • Program specific prerequisite courses;
  • A minimum overall average of C or 60%.
Canadian Bible College
 General Admission Requirements:
  • A minimum overall average of C / 60% or equivalent;
  • College must be accredited by the Association of Biblical Higher Education (ABHE);
  • Successfully meets the minimum program specific preparatory course prerequisites at the Grade 12U or M level or equivalent;
  • If not eligible right out of high school, a minimum of two years of full time studies must be completed at the Bible College.

Step 2 – Determine your program-specific prerequisite requirements for your program(s) of choice:

To determine your program-specific prerequisite requirements, choose from the drop-down menus below:

Program Specific Requirements

Please Select Your Applicant Type

  • Economics
    Degree:
    Arts
    Alberta/NWT/Nunavut:
    English Language Arts 30-1, 1 from: Math 30-1, Math 30-2, or Math 31
    Program Specific Requirements for Ontario High School Students:
    English (ENG4U), 1 from: Advanced Functions (MHF4U), Calculus & Vectors (MCV4U), or Data Management (MDM4U)
    Program Specific Requirements for Alberta/NWT/Nunavut High School Students:
    English Language Arts 30-1, 1 from: Math 30-1, Math 30-2, or Math 31
    Program Specific Requirements for British Columbia/Yukon High School Students:
    English Studies 12 or English First Peoples 12, 1 from: Calculus 12, Foundation of Mathematics 12, Pre-Calculus 12, or Statistics 12
    Program Specific Requirements for International Students:
    English, Math
    Program Specific Requirements for Manitoba High School Students:
    English Language Arts (Comprehensive Focus, Literary Focus, or Transactional Focus) 40S, 1 from: Applied Math 40S, Advanced Mathematics 45S & Introduction To Calculus 45S, or Pre-Calculus 40S
    Program Specific Requirements for Mature/Transfer Students:
    English (ENG4U), 1 from: Advanced Functions (MHF4U), Calculus & Vectors (MCV4U), or Data Management (MDM4U). Other secondary or post-secondary courses that are equivalent to these requirements are accepted. College transfer students entering via a transfer pathway are not required to satisfy these specific prerequisite requirements.
    Program Specific Requirements for New Brunswick High School Students:
    English Language Arts 121 or 122, 1 from: Calculus 120, Foundations of Math 120, or Pre-Calculus A120 or B120
    Program Specific Requirements for Newfoundland/Labrador High School Students:
    English 3201, 1 from: Academic Math 3201, Advanced Math 3200, or Calculus 3208
    Program Specific Requirements for Nova Scotia High School Students:
    English 12 or English 12 African Heritage, 1 from: Calculus 12, Mathematics 12, or Pre-Calculus 12
    Program Specific Requirements for PEI High School Students:
    English 621A, 1 from: Calculus 611B, Foundations of Math 621A, or Pre-Calculus 621B
    Program Specific Requirements for Quebec (CEGEP) Students:
    2 English (603 or 604), 2 from: Calculus I (201-NYA or 201-103), Calculus II (201-NYB or 201-203), or Linear Algebra I (201-NYC, 201-105, or 201-106)
    Program Specific Requirements for Quebec (Private) Students:
    English (ENG4U), 1 from: Advanced Functions (MHF4U), Calculus & Vectors (MCV4U), or Data Management (MDM4U). Equivalent courses to the Ontario prerequisite requirements will be considered.
    Program Specific Requirements for Saskatchewan High School Students:
    English Language Arts 30 A or English Language Arts 30 B, 1 from: Calculus 30 or Pre-Calculus 30
  • Economics & Political Science
    Degree:
    Arts
    Alberta/NWT/Nunavut:
    English Language Arts 30-1, 1 from: Math 30-1, Math 30-2, or Math 31
    Program Specific Requirements for Ontario High School Students:
    English (ENG4U), 1 from: Advanced Functions (MHF4U), Calculus & Vectors (MCV4U), or Data Management (MDM4U)
    Program Specific Requirements for Alberta/NWT/Nunavut High School Students:
    English Language Arts 30-1, 1 from: Math 30-1, Math 30-2, or Math 31
    Program Specific Requirements for British Columbia/Yukon High School Students:
    English Studies 12 or English First Peoples 12, 1 from: Calculus 12, Foundation of Mathematics 12, Pre-Calculus 12, or Statistics 12
    Program Specific Requirements for International Students:
    English, Math
    Program Specific Requirements for Manitoba High School Students:
    English Language Arts (Comprehensive Focus, Literary Focus, or Transactional Focus) 40S, 1 from: Applied Math 40S, Advanced Mathematics 45S & Introduction To Calculus 45S, or Pre-Calculus 40S
    Program Specific Requirements for Mature/Transfer Students:
    English (ENG4U), 1 from: Advanced Functions (MHF4U), Calculus & Vectors (MCV4U), or Data Management (MDM4U). Other secondary or post-secondary courses that are equivalent to these requirements are accepted.
    Program Specific Requirements for New Brunswick High School Students:
    English Language Arts 121 or 122, 1 from: Calculus 120, Foundations of Math 120, or Pre-Calculus A120 or B120
    Program Specific Requirements for Newfoundland/Labrador High School Students:
    English 3201, 1 from: Academic Math 3201, Advanced Math 3200, or Calculus 3208
    Program Specific Requirements for Nova Scotia High School Students:
    English 12 or English 12 African Heritage, 1 from: Calculus 12, Mathematics 12, or Pre-Calculus 12
    Program Specific Requirements for PEI High School Students:
    English 621A, 1 from: Calculus 611B, Foundations of Math 621A, or Pre-Calculus 621B
    Program Specific Requirements for Quebec (CEGEP) Students:
    2 English (603 or 604), 2 from: Calculus I (201-NYA or 201-103), Calculus II (201-NYB or 201-203), or Linear Algebra I (201-NYC, 201-105, or 201-106)
    Program Specific Requirements for Quebec (Private) Students:
    English (ENG4U), 1 from: Advanced Functions (MHF4U), Calculus & Vectors (MCV4U), or Data Management (MDM4U). Equivalent courses to the Ontario prerequisite requirements will be considered.
    Program Specific Requirements for Saskatchewan High School Students:
    English Language Arts 30 A or English Language Arts 30 B, 1 from: Calculus 30 or Pre-Calculus 30
  • Mathematics & Economics
    Degree:
    Arts
    Alberta/NWT/Nunavut:
    English Language 30-1, Math 30-1, 1 from: Math 30-2 or Math 31
    Program Specific Requirements for Ontario High School Students:
    English (ENG4U), Advanced Functions (MHF4U), 1 from: Calculus & Vectors (MCV4U) or Data Management (MDM4U)
    Program Specific Requirements for Alberta/NWT/Nunavut High School Students:
    English Language 30-1, Math 30-1, 1 from: Math 30-2 or Math 31
    Program Specific Requirements for British Columbia/Yukon High School Students:
    English Studies 12 or English First Peoples 12, Pre-Calculus 12, 1 from: Calculus 12, Foundations of Mathematics 12, or Statistics 12
    Program Specific Requirements for International Students:
    English, Math
    Program Specific Requirements for Manitoba High School Students:
    English Language Arts (Comprehensive Focus, Literary Focus, or Transactional Focus) 40S, Pre-Calculus 40S, 1 from: Applied Math 40S or Advanced Mathematics 45S & Introduction To Calculus 45S
    Program Specific Requirements for Mature/Transfer Students:
    English (ENG4U), Advanced Functions (MHF4U), 1 from: Calculus & Vectors (MCV4U) or Data Management (MDM4U). Other secondary or post-secondary courses that are equivalent to these requirements are accepted.
    Program Specific Requirements for New Brunswick High School Students:
    English Language Arts 121 or 122, Pre-Calculus A120 or B120, 1 from: Calculus 120 or Foundations of Math 120
    Program Specific Requirements for Newfoundland/Labrador High School Students:
    English 3201, Advanced Math 3200, 1 from: Academic Math 3201 or Calculus 3208
    Program Specific Requirements for Nova Scotia High School Students:
    English 12 or English 12 African Heritage, Pre-Calculus 12, 1 from: Calculus 12 or Mathematics 12
    Other Admission Requirements & Important Information:
    Calculus & Vectors is recommended
    Program Specific Requirements for PEI High School Students:
    English 621A, Pre-Calculus 621B; 1 from: Calculus 611B or Foundations of Math 621A
    Program Specific Requirements for Quebec (CEGEP) Students:
    2 English (603 or 604), Linear Algebra I (201-NYC, 201-105, or 201-106), Calculus I (201-NYA or 201-103)
    Program Specific Requirements for Quebec (Private) Students:
    English (ENG4U), Advanced Functions (MHF4U), 1 from: Calculus & Vectors (MCV4U) or Data Management (MDM4U). Equivalent courses to the Ontario prerequisite requirements will be considered.
    Program Specific Requirements for Saskatchewan High School Students:
    English 30A or English 30B, Pre-Calculus Math 30, Calculus 30
  • Resource & Environmental Economics
    Degree:
    Science
    Alberta/NWT/Nunavut:
    English Language 30-1, 2 from: Math 30-1, Math 30-2, or Math 31; 1 from: Biology 30, Chemistry 30, or Physics 30
    Program Specific Requirements for Ontario High School Students:
    English (ENG4U), 2 from: Advanced Functions (MHF4U), Calculus & Vectors (MCV4U), or Data Management (MDM4U); 1 from: Biology (SBI4U), Chemistry (SCH4U), Earth & Space Science (SES4U), or Physics (SPH4U)
    Program Specific Requirements for Alberta/NWT/Nunavut High School Students:
    English Language 30-1, 2 from: Math 30-1, Math 30-2, or Math 31; 1 from: Biology 30, Chemistry 30, or Physics 30
    Program Specific Requirements for British Columbia/Yukon High School Students:
    English Studies 12 or English First Peoples 12, 2 from: Calculus 12, Foundations of Mathematics 12, Pre-Calculus 12, or Statistics 12; and 1 from: Anatomy and Physiology 12, Chemistry 12, Environmental Science 12, or Physics 12
    Program Specific Requirements for International Students:
    English, Math, 1 from: Biology, Chemistry, or Physics
    Program Specific Requirements for Manitoba High School Students:
    English Language Arts (Comprehensive Focus, Literary Focus, or Transactional Focus) 40S, 2 from: Advanced Mathematics 45S & Introduction To Calculus 45S, Applied Math 40S, or Pre-Calculus 40S; 1 from: Biology 40S, Chemistry 40S, or Physics 40S
    Program Specific Requirements for Mature/Transfer Students:
    English (ENG4U), 2 from: Advanced Functions (MHF4U), Calculus & Vectors (MCV4U), or Data Management (MDM4U); 1 from: Biology (SBI4U), Chemistry (SCH4U), Earth & Space Science (SES4U), or Physics (SPH4U). Other secondary or post-secondary courses that are equivalent to these requirements are accepted. & Space Science, Grade 12 U Physics, or equivalent)
    Program Specific Requirements for New Brunswick High School Students:
    English Language Arts 121 or 122, 2 from: Calculus 120, Foundations of Math 120, or Pre-Calculus A120 or B120; 1 from: Biology 121 or 122, Chemistry 121 or 122, Introduction to Environmental Science 120 or Advanced Environmental Science 120, or Physics 121 or 122
    Program Specific Requirements for Newfoundland/Labrador High School Students:
    English 3201, 2 from: Academic Math 3201, Advanced Math 3200, or Calculus 3208; 1 from: Biology 3201, Chemistry 3202, Environmental Science 3205, or Physics 3204
    Program Specific Requirements for Nova Scotia High School Students:
    English 12 or English 12 African Heritage, 2 from: Calculus 12, Mathematics 12, or Pre-Calculus 12; 1 from: Biology 12, Chemistry 12, or Physics 12
    Other Admission Requirements & Important Information:
    World History or Geography are recommended
    Program Specific Requirements for PEI High School Students:
    English 621A, 2 from: Calculus 611B, Foundations of Math 621A, or Pre-Calculus 621B; 1 from: Biology 621A, Chemistry 621A, Environmental Science 621A, or Physics 621A
    Program Specific Requirements for Quebec (CEGEP) Students:
    2 English (603 or 604), Linear Algebra I (201-NYC, 201-105, or 201-106), Calculus I (201-NYA or 201-103), 4 from: Biology I (NYA), Biology II, Chemistry (NYA, NYB, or NYC), or Physics (NYA, NYB, or NYC)
    Program Specific Requirements for Quebec (Private) Students:
    English (ENG4U), 2 from: Advanced Functions (MHF4U), Calculus & Vectors (MCV4U), or Data Management (MDM4U); 1 from: Biology (SBI4U), Chemistry (SCH4U), Earth & Space Science (SES4U), or Physics (SPH4U). Equivalent courses to the Ontario prerequisite requirements will be considered.
    Program Specific Requirements for Saskatchewan High School Students:
    English Language Arts 30 A or English Language Arts 30 B, Calculus 30, Pre-Calculus 30, 1 from: Biology 30, Chemistry 30, Earth Science 30, or Physics 30


As a first year Economics student you will be required to complete Economics 1100, Principles of Economics to fulfill your first year requirement. The balance of your courses will be from the Department of Mathematics or from the Faculty of Social Sciences and Humanities.

This introductory course will lay the foundation for more in-depth courses such as:

  • Microeconomics
  • Macroeconomics
  • Econometrics and Forecasting
  • Public Finance
  • Environmental Economics
  • Health Economics

If you choose to combine your Economics degree with studies in Political Science, Mathematics or Business Administration, your first year requirements will differ. Please refer to our Economics programs page for more information about your specific program requirements.

Our Department of Economics regularly hosts a Speaker Series on Friday afternoons. The topics are always different and challenge your current views on economic subjects and policy. Our Speaker Series is a great way to: (i) expand your knowledge on various topics; and (ii) network with the field's foremost thought leaders and up-and-coming economists across Canada.


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