Which Canadian university has the best economics program?
- University of Toronto.
- University of British Columbia.
- Western University.
- University of Alberta.
- University of Montreal.
- York University.
- Simon Fraser University.
- McGill University.
Best Universities in Canada for Economics
Canada is home to many excellent universities for economics. Some Universities offer a variety of courses and degrees in various fields of expertise. It's hard to choose the best universities in Canada for economics from all those options available.
The production, consumption, and marketing of products and services are all topics covered in the study of economics. Canadian economics colleges offer a broad range of degree courses. However, there were 60,000 international students in Canada in 2022. Our list covers what all students may want to know before they apply to universities in Canada and how they compare with other options available in Canada.Table of Contents
- Why Study Economics in Canada Universities?
- Top Universities in Canada for Economics
- Economics Colleges in Canada: Degree Courses and Specializations
- Top Economics Colleges in Canada: Undergraduate Courses
- Economics Colleges in Canada: Eligibility Criteria for Bachelors
- Economics Colleges in Canada: Fees and Funding for Bachelors
- Top Economics Colleges in Canada: Postgraduate Courses
- Economics Colleges in Canada: Eligibility Criteria for Masters
- Economics Colleges in Canada: Fees and Funding for Masters
- Economics Colleges in Canada: Doctoral Courses
- Economics Colleges in Canada: Eligibility Criteria for PhD
- Economics Colleges in Canada: Fees and Funding for PhD
- Documents Required to Study Economics Courses in Canadian Universities
- Top Economics Colleges in Canada: Scholarships
- Jobs & Salary after Economics in Canada
- FAQs
Why Study Economics in Canada Universities?
There are many advantages to pursuing Economics in Canada, in addition to the internationally recognised curricula and access to cutting-edge knowledge:
- Nearly 20 Canadian institutions are ranked among the top 500 in the QS world university rankings for Economics & Econometrics for 2022.
- Economic progress and growth are predicted to lead to almost 1.7 million new employment creations.
- Regarding university tuition costs, studying in Canada is less expensive than in the USA, Australia, etc.
- More grants and scholarships are available abroad than in the USA in the form of scholarships, fellowships, and other funding.
- International students who want to finance their living expenses and obtain work experience in Canada can work part-time while attending classes.
Suggested Reads:
| Masters in Economics in USA | Masters in Economics in Ireland |
| Masters in Economics in Germany | Masters in Economics in Canada |
Top Universities in Canada for Economics
There are approximately 346 courses offered across all degree levels, from bachelor's to doctoral, in the 65 Economics colleges across Canada.
Here is a list that includes some of the top universities in Canada that provide the most significant economics programmes:
|
University |
QS Rankings 2021 (Economics) |
Programs |
|
University of British Columbia |
#23 |
B.A. Economics |
|
B.Sc. Economics |
||
|
B.Sc. Economics and Mathematics |
||
|
Bachelor of International Economics |
||
|
Master of Arts (MA) in Economics |
||
|
University of Toronto |
#22 |
B.A. Economics |
|
B.Sc. in Financial Economics |
||
|
B.A. in Economics and Management Studies |
||
|
BBA in Economics and Management Studies |
||
|
M.A in Economics |
||
|
Master of Financial Economics |
||
|
Master of Finance |
||
|
PPh.D.in Economics |
||
|
McGill University |
#123 |
B.A. Economics |
|
B.Com Economics |
||
|
B.Sc. Economics |
||
|
B.Sc. in Environmental Economics |
||
|
B.Com Economics and Finance |
||
|
B.A. in Economics and Accounting |
||
|
B.Sc. Agricultural Economics |
||
|
M.A. Economics |
||
|
M.Sc. in Agricultural Economics |
||
|
PhD. Economics |
||
|
Queen’s University, Kingston |
#133 |
B.A. Economics |
|
M.A Economics |
||
|
MSc. in Business Economics |
||
|
Master of Finance |
||
|
PhD. in Economics |
||
|
PhD. in Business Economics |
||
|
University of Montreal |
#151-200 |
B.Sc. in Economics |
|
M.Sc. in Economics |
||
|
M.Sc. Management in Applied Economics |
||
|
PPh.D.in Economics |
||
|
PhD in Applied Economics |
Economics Colleges in Canada: Degree Courses and Specializations
There are many different degree specialities and course options in economics. It is a broad topic that addresses several aspects like creating, selling, and consuming commodities and services. One must seek the course specialities of a particular field when looking for study abroad choices.
The course specialities a person can take into account when applying to Canada's top economics universities are listed below.
The following degree specialities are offered at Canadian economics colleges:
The course specialities a person can take into account when applying to Canada's top economics universities are listed below.
- International Economics
- Financial Economics
- Economics for Management Studies
- Analysis and Economical Policy
- Agricultural Economics
- Business Economics
- Applied Economics
- Population Dynamics
The following degree specialities are offered at Canadian economics colleges:
TOP Economics Colleges in Canada: Undergraduate Courses
The study of the production and consumption of goods and services is covered in three to four years of professional economics coursework in Canada.
This part provides information on the aspects mentioned above. Knowing the costs associated with various institutions and courses and the length of each course is crucial.
|
Program |
University |
Total Program Cost (in CAD) |
Duration (in Years) |
|
B.A. Economics |
University of British Columbia |
164,800 |
4 |
|
University of Toronto |
233,000 |
4 |
|
|
McGill University |
61,800 |
3 |
|
|
Queen’s University, Kingston |
103,700 |
4 |
|
|
University of Winnipeg |
52,700 |
3 |
|
|
University of Guelph |
96,500 |
4 |
|
|
B.Sc. in Economics |
University of British Columbia |
155,900 |
4 |
|
University of Montreal |
60,000 |
3 |
|
|
BBA in Economics for Management Studies |
University of Toronto |
163,000 |
4 |
|
Thompson River University |
60,000 |
3 |
|
|
B.Sc. in Financial Economics |
University of Toronto |
232,800 |
4 |
|
University of Ottawa |
120,900 |
4 |
|
|
B.Sc. in Agricultural Economics |
McGill University |
136,600 |
3 |
|
University of Saskatchewan |
73,100 |
4 |
|
|
B.Com in Economics and Finance |
McGill University |
157,500 |
3 |
Economics Colleges in Canada: Eligibility Criteria for Bachelors
International students must complete specific requirements to enrol in an undergraduate economics course in Canada. As previously said, these affirmation requirements are necessary to apply for admission to top-tier universities.
Economics Colleges in Canada: Fees and Funding for Bachelors
An undergraduate degree typically costs between 52,700 and 232,000 Canadian dollars for the whole programme. The cost of living in Canada adds up to between 20,000 and 30,000 CAD annually, which is a sizable sum for an international student to manage.
Therefore, a variety of bachelor's scholarships are available for overseas students, enabling them to support their stay in Canada.
TOP Economics Colleges in Canada: Postgraduate Courses
In Canada, master's degree specialisations in economics, such as the master of science, master of arts, and master of finance, are one to two-year programmes.
The majority of international students favour Canadian postgraduate programmes. The subject is thoroughly studied in master's programmes, and students are also exposed to the realities of the market.
A handful of the well-known master's programmes offered by the best Canadian economics universities are included here.
|
Program |
University |
Total Program Cost (in CAD) |
Duration (in years) |
|
M.A. in Economics |
University of Toronto |
51,000 |
2 |
|
McGill University |
41,800 |
2 |
|
|
Queen’s University, Kingston |
31,000 |
2 |
|
|
University of Ottawa |
15,500 |
1 |
|
|
York University |
15,300 |
1 |
|
|
MSc. in Business Economics |
Queen’s University Kingston |
14,000 |
1 |
|
Brock University |
23,500 |
1 |
|
|
MSc. in Agricultural Economics |
McGill University |
41,800 |
2 |
|
University of Saskatchewan |
15,000 |
2 |
|
|
Master of Financial Economics |
University of Toronto |
112,500 |
2 |
|
Queen’s University Kingston |
71,000 |
2 |
|
|
MSc. in Management- Applied Economics |
University of Montreal |
56,400 |
2 |
|
University of Regina |
15,000 |
2 |
Economics Colleges in Canada: Eligibility Criteria for Masters
According to Job Bank Canada, a master's in economics offers an average pay of 85,700 CAD per year, which is almost 35% more than that of an employee with an undergraduate degree. 88% of graduates find employment within three months of finishing their degree.
Let's now look at the prerequisites for Economics master's programmes in Canada:
- Students must hold a comparable bachelor's degree in the required discipline and have a minimum GPA of 3.0 to 3.2 on a 4.0 scale.
- English language proficiency must be strong. Average Limit for ELPs:
- IELTS 6.5 to 6.5 TOEFL 80 to 90
- Scores on the GRE are required.
- Prior professional experience in a similar field is a plus.
Economics Colleges in Canada: Fees and Funding for Masters
Depending on the university one chooses and the course specialisation, a postgraduate economics degree in Canada can cost anywhere from 15,000 to 112,500 Canadian dollars in tuition. To lessen the financial strain during their stay in Canada, funding is available in the form of international scholarships.
Economics Colleges in Canada: Doctoral Courses
Most students tend to hunt for employment after completing their graduate education. However, some students seek additional higher education opportunities, such as PhD degrees, which offer good career opportunities and competitive pay scales.
According to a recent survey by Economics, business economists with doctoral degrees make up to 40% more than those with master's degrees.
Here are a few PhD programmes offered by major Canadian economics universities, along with their duration and associated costs.
|
Program |
University |
Total Program Cost (in CAD) |
Duration (years) |
|
PhD in Economics |
University of Toronto |
34,900 |
4 |
|
McGill University |
55,000 |
3 |
|
|
Queen’s University, Kingston |
61,900 |
4 |
|
|
University of Montreal |
78,100 |
3 |
|
|
Concordia University |
36,500 |
3 |
|
|
University of Calgary |
69,400 |
5 |
|
|
PhD in Economic Analysis and Policy |
University of Toronto |
38,000 |
4 |
|
PhD in Business Economics |
Queen’s University Kingston |
31,100 |
3 |
|
PhD in Applied Economics |
University of Montreal |
66,800 |
4 |
Economics Colleges in Canada: Eligibility Criteria for PhD
A recent UNESCO report estimates that Canada spends about 1.7% of its GDP on research. In Canada, there are 4,541 researchers for every million people. A PhD in economics takes three to five years at Canadian universities.
Now, let's find out who qualifies to apply to Canadian universities for a doctorate in economics:
- Excellent academic record up to the master's level in the appropriate subjects. The results must be proportionate to a minimum GPA of 3 to 3.3, or 80% or higher.
- The GRE score is recognised. The GRE's typical cut-off ranges from 310 to 340.
- Good English language proficiency ratings. ELPs' Average Cut-Off:
- IELTS 6.5
- TOEFL 86-90 TOEFL 560-567 (IBT)
Economics Colleges in Canada: Fees and Funding for PhD
The average price to complete a doctoral degree in Canada is between CAD 31,100 and CAD 78100. Numerous doctoral scholarships and support for international students are offered in Canada to help students stay there longer.
Documents Required to Study Economics Courses in Canadian Universities
- Academic Transcripts
- Application Fees Receipt
- Proof of standardised test scores
- Curriculum Vitae reflects academics and co-curricular achievements.
- Letter of Recommendation
- Statement of Purpose for MS in Canada if planning to study Masters in Economics in Canada
- Valid proof of prior experience in the field of economics.
- Financial Proof
- Health Insurance
TOP Economics Colleges in Canada: Scholarships
The average annual cost of studying in Canada, including living expenditures, is between 40,000 and 50,000 CAD. This is a substantial burden for an overseas student to bear. To support their stay, Canada offers a large number of government and university-funded international scholarships.
A handful of the well-known scholarships are listed below:
|
Name of Scholarship |
Scholarship Provider |
Benefits (in CAD/year) |
Eligibility |
|
A.F. Brass Memorial Scholarship |
University of British Columbia |
10,800 |
International Postgraduate Students |
|
Karen McKellin International Leader of Tomorrow |
University of British Columbia |
Variable |
International Undergraduate Students |
|
Ontario Graduate Scholarship |
Canadian Provincial Government |
20,900 |
International Postgraduate Students |
|
Paul Foundation Scholarship |
Paul Foundation |
28,654 |
Postgraduate and Doctorate Students |
|
National Overseas Scholarship |
Government of India |
20,290 |
All level of student |
Jobs & Salary after Economics in Canada
With hundreds of renowned universities, Canada's higher education is regarded as one of the greatest in the world. A good education opens up many chances. An economist can make up to 48,000 to 97,000 Canadian dollars per year, compared to up to 45,000 to 78,000 for business economists.
Job positions are once again a crucial factor that must be highlighted to give international students choosing the top economics degree in Canada an understanding of Canadian work culture and pay scales.
A few of the most sought-after economics-related jobs in Canada are listed here.
|
Designation |
Yearly Salary Range (in CAD/year) |
|
Economist |
48,000-97,000 |
|
Economic Analyst |
49,000-100,000 |
|
Economic Consultant |
68,000-83,000 |
|
Economic Policy Researcher |
75,000-95,000 |
|
Marketing Researcher |
49,500-84,000 |
|
Marketing Consultant |
35,000-90,000 |
|
Business Development Officer |
36,000-99,000 |
|
Economic Development Director |
40,000-110,000 |
If you're looking for institutions in Canada that offer economics programmes, Contact AECC. We'll help you submit an excellent application before the deadline for acceptance. Don't miss the opportunity to attend the university of your dreams by failing to schedule your 30-minute counselling consultation with us!
FAQs About Best Universities in Canada
Is Canada a good place to study economics?
Many good economics universities can be found in Canada.
Some universities provide a wide range of courses and degrees in a variety of sectors of competence.
Is economics in demand in Canada?
For economists, economic policy researchers, and analysts in Ontario, the job prognosis is promising for the years 2021-2023.
How much does it cost to study economics in Canada?
The average tuition expense is between CAD 13,000 and 45,000 (about 34 lakh). The average economist salary in Canada (entry-level) is around CAD 42,948 (33 lakh) per year.