“Just like in Hollywood, it’s awards season at the Department of Economics,” said Professor Michael Baker. Baker, the Associate Chair of Undergraduate Programs, opened the 2025 Undergraduate Awards of Excellence in Economics as comedian Conan O’Brien had opened the Oscars ceremony just a few days before.
The 5 March ceremony at Max Gluskin House recognized the winners of 22 awards with a total value of $35 979.84 in prize money. Award recipients were celebrated for course work completed during the 2023-2024 academic year. Donors Robert Douglas, Louise Harris and Ilana Hosios, and Patricia Higgins attended the celebration to present certificates to award winners.
The Alexander Mackenzie Scholarship in Economics
This award commemorates the late Alexander Mackenzie and is given to a student enrolled in an Economics program who has completed at least two full courses in Economics in the session for which the award is made. It is awarded based on academic merit.
The 2025 winner is fourth year student Yunfei (Kevin) Wang.
“It’s wonderful to be recognized and validated by a department that I have gained so much from over the past four years,” the Innis College student said. “While I worked hard for these things, I think a lot of the credit goes to my professors and colleagues too for the inspiration and encouragement I get just through interacting with them.”
The Arthur Hosios Scholarship in Economics
Kevin was also the runner up for the Hosios Scholarship in Economics for his paper Fairness of Medical Triage Systems. This scholarship was named in honour of Arthur Hosios, former chair of the department. Established by the family and friends of the late professor, the scholarship is held by one or more students based on an original research paper submitted as part of the requirements of a 300 or 400 level economics course taken at the St. George campus. The applicants’ work is evaluated based on originality and presentation. There are two awards – one each for the winning paper and for the runner up.
The 2025 Hosios Scholarship winner, Keyi Fan, returned to Toronto from Boston to pick up her prize at the ceremony. Now a master’s student at the Harvard Kennedy School of Public Policy, Keyi is continuing the work she started at the Department of Economics in ECO499 examining the impact of Ontario’s greenbelt on surface water pollution.
“I really appreciate the education I received here,” Keyi, an alumna of Woodsworth College, said at the ceremony. “I think it was focused on common human values that we see worldwide. I especially appreciate the people I met who love doing research.”
Keyi’s paper In the Ontario Greenbelt’s Green-keeping: Evaluation of its Impact on Surface Water Pollution and Environmental Conservation is accepted for presentation at the Association of Environmental and Resource Economists Summer Conference at the end of May.
The Banker’s Scholarship in Economics
This award was established with gifts from the Toronto-Dominion Bank, the Royal Bank of Canada, and the Canadian Imperial Bank of Commerce in 1891. It goes to the student with the highest standing in the intermediate macroeconomics course sequence. It is awarded based on academic merit and financial need.
The 2025 winner is Wanying Yang, a statistical sciences specialist and economics major, who plans to pursue a graduate degree in data science.
The Brian Mulroney Award
Endowed with a gift from Gerry Schwartz, this award goes to the student who achieves the highest mark in ECO231H1 (Economics of Global Trade) and ECO232H1 (Global Macroeconomics and Policies), HIS264H1 (Critical Issues in Canadian History), or POL214H1 (Canadian Government). It is awarded based on academic merit and financial need. The winner is: University College student Yuehang (Peter) Ma.
“I’d like to thank the donors and Professor Robert Owen for his inspiring teaching,” Peter said. “I was surprised by the award, and I appreciate it greatly.”
The Smith Family Scholarship
This scholarship was endowed by James C. Smith and is awarded to an outstanding student in Economics who intends to focus his or her studies on economic policy or economic history. In addition to strong academic performance, this unique award is also based on student writing: applicants must write a short essay analyzing a current economic policy issue. The winner is Samuel Hoogsteen for his essay A 21st Century Resource Economy.
“I am incredibly grateful for the support of the donors and of faculty for enabling me to continue my work,” the third year Trinity College student said.
Department of Economics Essay Prize in Economic Policy
As part of the Smith Family Scholarship competition, the Department holds an essay contest. In recognition of excellence in these submissions, the Department of Economics instituted an award to specifically recognize the students whose essays stand out for the quality of writing and application of economics to an important question in public policy. The winners this year are two Trinity College students, Willow Pari Teter and Catherine Champion.
The Donald Dewees Undergraduate Award
Named in honour of Professor Don Dewees in acknowledgement of his many years of service to the Department of Economics, this award is granted to students demonstrating excellence in Don’s areas of passion and expertise: the economic analysis of law, and the economics of energy and the environment.
Nikki Putric, a recent Trinity College alumna, is this year’s winner. Nikki is now a global markets analyst with RBC and is pursuing her CFA designation.
The Frederick G. Gardiner Scholarship in Economics and Political Science
This scholarship is awarded to an outstanding student enrolled in two of the following major or specialist programs: Economics, Political Science and Public Policy.
This year, the Gardiner Scholarship winner is Farah Sobhy Mohamed.
“I’m very thankful for all of the opportunities that the economics department has given me, and I look forward to using the things I’ve learned here well into the future,” said the fourth year St. Michael’s College student.
The Jack L. Carr Scholarship
This scholarship was established through a gift from Professor Emeritus Jack Carr and his family and is awarded to a student in either Rotman Commerce or the Department of Economics who achieves the highest mark in ECO209Y1 (Macroeconomic Theory and Policy for Commerce).
Innis College student Jen-Chieh (Jay) Chuang is this year’s recipient. After graduation, the fourth-year student plans to work in the field of business analytics.
The Mary Child Scholarship in Economics
This award is given to the outstanding graduating student in an Economics Specialist program based on performance in the courses required. The scholarship was established in 1984 by Arthur Child, President and CEO of Burns Foods Limited.
The winner is Ketaki Sarin who is now a master’s student at the London School of Economics.
The Mary Keenan Award
These awards are given to students who have successfully completed their first year in the Faculty of Arts and Science and have enrolled in a specialist program in Economics. The winners are two Trinity College students Samuel Hoogsteen and Yining Zhao, both of whom won two Awards of Excellence in Economics this year.
The Nanda Choudhry Prize in Economics (Year II)
This prize was established with a gift from the late Professor Emeritus Nanda Choudhry who retired in 1996. It is awarded to a student in a specialist program in Economics who has obtained the highest average mark in at least two of the required second year courses in microeconomics, macroeconomics and quantitative methods. The winner is Ruth Zhang of Innis College.
The Nanda Choudhry Prize in Economics (Year III)
This prize was also established with a gift from the late Professor Emeritus Nanda Choudhry. Again, it is awarded to a student in a specialist program in Economics, based on performance in at least two full Economics courses at the 300 or 400 level. The winner is Ho Chun (Steven) Chung of Trinity College.
The Noah Meltz Undergraduate Award in Labour Economics
This scholarship is awarded in memory of our colleague Noah Meltz who passed away in 2002. The prize goes to an outstanding undergraduate student in our third-year course, ECO340H (Labour Economics: The Distribution of Earnings). It is awarded based on academic merit. The winner is:
Daniel Crosner is the 2025 winner. Since graduation last June, the Trinity College alumnus has been looking for work while supporting his father who is living with Parkinson’s Disease. The award for his final year of study was a welcome reminder that hard work pays off.
“It appears as though my labours have borne fruit!” said Daniel. “I am very grateful to Professor Baker and all my former economics professors for their help.”
The Paul L. Nathanson Scholarship in Economics
Established in memory of Paul Nathanson who was the founder of the General Theatre Investment Company, this scholarship is awarded to an outstanding student whose program includes at least three full courses in Economics (A companion award goes to a student in Political Science). The winner fourth year Innis College student Victor Popa Burca.
“I am so happy,” Victor said. “I hope to come back for more when I come back to do my master’s next year.”
The Safarian Scholarship in Economics
Victor Popa Burca was also awarded the Safarian Scholarship in Economics this year. It was endowed by the late Professor Ed Safarian who was a member of the Order of Canada and a renowned policy expert. The award goes to an outstanding student in a specialist program in Economics.
The Ramsay Scholarship in Economics
This scholarship is funded with a bequest from the late William Ramsay of Bowland, Scotland. Like the Paul Nathanson award, this scholarship is given to an outstanding student whose program of study includes at least three courses in Economics. The winner is Yeran Tang who is a fourth year New College) student.
“Winning the Ramsay Award is a great recognition from the department that encourages me to move forward in economics,” Yeran said. “I plan to study law after graduation, and this is very important for my future.”
The Reza Satchu Award for Excellence in Economics
This scholarship was endowed by Reza Satchu, co-founder of “The Next 36,” Canada’s Entrepreneurial Leadership Initiative. For many years, Reza taught the very popular course, “The Economics of Entrepreneurship.” The award is granted to an outstanding student graduating in Economics. It is awarded based on academic merit. The winner is recent Innis College alumna Jiaqi Sun.
The Robert C. Douglas Public Finance Award
Established in 2022 by Robert Douglas, a University of Toronto Economics alumnus. The award is given to an undergraduate student in an Economics program who has obtained the highest mark in Advanced Public Economics (ECO446H1). Aman Aaryaman Aggarwal is the newest recipient of the award.
“It’s a really special feeling to have my work recognized and to meet Robert Douglas to thank him for this honour myself,” the fourth year Victoria College student said. “This award encourages me to work even harder both now and in the future.”
The Stefan Stykolt Scholarship in Economic Theory
This scholarship was established in 1962 with a bequest from the late Stefan Stykolt, an Associate Professor of Economics at the University of Toronto. It is awarded to a student in a specialist or major program in Economics who has completed ECO200Y/204Y/206Y and ECO202Y/208Y/209Y.
Third year Trinity College student Yining Zhao is this year’s winner.
“Hard work really does pay off,” she said at the awards ceremony.
William G. Wolfson Scholarship in Economics
Endowed by Bill Wolfson who has taught the program’s foundational courses ECO101H1, ECO102H1 and ECO200Y1, this scholarship is awarded to an outstanding student who has completed second year.
Beisi (Peter) Yang, a third year St. Michael’s College student is this year’s winner.
“It’s really encouraging to receive this award and progress in economics,” Peter said. “I’ve already taken third-year behavioural economics, and it was a fun course with everything I love. There’s something for everyone in economics.”
The Professor James Pesando Memorial Scholarships in Economics
Awarded for the first time, this scholarship was established by the family and friends of the late Professor Pesando and named in his honour. Two scholarships are awarded to students who were top performers in economics 100-level courses with preference given to students in financial need.
Victoria College’s Ren Yi (Renee) Wang and New College’s Goeun (Lacrecia) Kang, both in second year, are the inaugural winners of this award.
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