The study of economics has changed considerably over the past twenty years, influenced mainly by the advent and prevalence of mathematical and econometric methods of analysis. While it was once possible to gain a fairly broad knowledge of the subject at the undergraduate level, this target is now more difficult to achieve. Consequently, the graduate programs are designed to provide students with a broad based knowledge of theories, quantitative methods and applications of economics. At the doctoral level, students specialize by choosing two areas in which they will pursue advanced course work and research, while at the master's level, one field is required. The Diploma in Economics is designed to provide students, who already hold an undergraduate degree, with a more specialized knowledge of economics. The emphasis of the Diploma is on applications and policies as opposed to the purely theoretical aspects of economics. Courses are offered in economic development and planning; financial economics; public economics; international economics; industrial economics; labour economics; economic theory; and econometrics.