Best Universities in Canada for Economics

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.

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:


Suggested Reads:

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.

  • International Economics
  • Financial Economics
  • Economics for Management Studies
  • Analysis and Economical Policy
  • Agricultural Economics
  • Business Economics
  • Applied Economics
  • Population Dynamics
Knowing the degree specialisations available for economics courses in Canada is crucial after learning about the course specialisations.

The following degree specialities are offered at Canadian economics colleges:

Bachelor's Degree: B.A., B.Sc., BBA., or B.Com.
Master's Degree: M.A, M.Sc, M.Com.
Doctoral Degree: PhD.

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.

  • Students must have a high school diploma or an equivalent 12-year education certificate with mathematics listed as a compulsory subject and overall grades of 65 to 70%.
  • English proficiency evidence. ELP average cut-off:
  • 6.5 IELTS
  • TOEFL 85-90
  • PTE:55-60

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 Global. 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!


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