Masters In Economics In Canada for Indian Students

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The economy is one of the most crucial parts of our market-driven society. International students choose to study their Masters in Economics in Canada because of its quality education system and relatively low tuition compared to other universities in western countries.

A master's degree in Economics requires determining how, when, and where a region's resources should be spent. Masters in Economics is one of those courses that helps students acquire mathematical skills in order to apply them to contemporary economic concerns. This master's degree equips students with industry skills and a wide range of employment prospects in the financial sector after graduation.

The Master of Arts (MA) and Master of Science (MS) degrees in Economics are offered in Canada (MS). It is available at over 20 Canadian universities. A master's degree in economics is also available as a specialist degree in one area, such as Development Economics, Economics, Natural Resources, Agriculture Economics, Economic Policy, and so on. From eligibility to colleges to admissions, here's everything you need to know about pursuing your Masters in Economics in Canada.

Why Study Masters In Economics In Canada?

Because of the country's outstanding educational quality, international students frequently select Canada to pursue their master's degrees. Canada's educational budget is significant, and its educational facilities are highly regarded. International students may also benefit from studying in a diversified atmosphere with international students worldwide. With all these benefits, studying for a Masters's in Economics in Canada is advised for students looking for the best educational value for their money.

Other reasons to study for your Masters in Canada include:

  • Over 19,700 new positions for economists are predicted to be created in Canada by 2026.
  • In British Columbia, the estimated yearly demand growth rate for economic graduates is 1.3 per cent.
  • The excellent educational infrastructure and access to the best educational environment make studying for your Masters in Canada very attractive.
  • After graduation, graduates of Masters in Economics in Canada can work in high-paying jobs in this friendly country. 

Masters In Economics In Canada: Program Highlights

  • The masters in Economics in Canada program entails independent research employing complex statistical data in a diverse range of disciplines such as International Economics, Resource and Environmental Economics, Financial and Labor Economics, Development Economics, Law and Economics, and Industrial Organization.
  • Although each school's curriculum for a Masters in Economics in Canada differs, each program incorporates social sciences components such as sociology.
  • Masters in Economics program duration usually lasts for 1 to 2 years.
  • A test of English proficiency result is necessary when applying to study Masters in Economics in Canada.

Suggested Reads:

Universities in Canada for Masters In Economics

There are very many colleges, institutes, and universities in Canada that offer masters in Economics. They vary by the quality of educational service they provide, location, and also by language. Some universities offer lessons in French and English.

In the table below, some top Universities in Canada for Masters In Economics are displayed:

University Name

QS Ranking 2022

Course Offered

Tuition Fees 

University of Toronto 

29

Econometrics

25,610

University of Regina 

269

Interpretational Economics 

19,000

University of British Columbia 

23

Macro-Economics

22,000

University of Montreal 

137

Financial Economics 

23,120

McMaster University 

140

Economics 

17,000

University of Calgary 

233

Econometrics

20,130

The University of Western Ontario

211

Applied Financial Economics

18,500

Queen’s University at Kingston

239

Management- Business Economics

21,430

University if Alberta 

131

Interpretational Economics 

25,810

McGill University 

111

Macro-Economics

24,380

Dalhousie University 

280

Economics 

16,320

University of Waterloo

175

Financial Economics 

20,000

University of Calgary

233

International Economics 

22,120

Masters In Economics In Canada: English Test Requirements

Most Canadian universities that offer master's degrees in economics require international students to take special assessments. Language proficiency examinations like TOEFL and IELTS and competitive exams like the GRE are examples of these. Test of English proficiency is essential for Canadian universities to admit international students. Universities in Canada usually require a TOEFL score of 80 and more, a GRE score of 150 and more, IELTS score of 6.5 and more.

Masters In Economics In Canada: Eligibility Criteria

  • Some Canadian universities may require GRE from International students.
  • Prior work experience in a comparable field is a plus in gaining admission to study Masters in Economics in Canada.

Masters In Economics In Canada: Admission Process

  • First, go to the official website of your university of choice and review the requirements for pursuing a masters in Economics in Canada.
  • Then, by clicking on the application website for your selected university, you should create an account with the university with your phone number or email address.
  • You may then receive a text message and Email to your registered phone number with important login information and verification codes.
  • Fill out all of your personal information with the login information supplied (date of birth, age, gender name, etc.)
  • The application fee varies by university and location in Canada, and it can be paid using International online banking. You can select your course and pay the application fee that is required of you.
  • Carefully fill out and submit your application form and double-check to be certain every information is in order.
  • Enter your academic qualifications as well as any additional supporting documentation that may be required.
  • Selected students may be invited to participate in a virtual interview by some universities and institutions in Canada.

Want to know about the Application Process? Click Here

Masters In Economics In Canada: Required Documents

  • Copy of visa/passport
  • Letter of recommendation
  • Statement of Purpose
  • Curriculum Vitae (If it is needed)
  • Certificate of English proficiency exam – PTE /IELTS/TOEFL
  • Reference Letters detailing academic and professional accomplishments may be needed. Different universities demand two to three reference letters.
  • Academic Transcripts

Tuition Fees for Studying Masters In Economics In Canada

The tuition for a Masters in Economics in Canada varies depending on the location of the University of your Choice. Application costs and student visa fees are extra expenditures. Private institutions are more expensive for international students to attend since they provide specialized and extra educational services. In the detailed table below, you will further learn about the Tuition Fees for Studying Masters in Economics in Canada:

Degree Level

Tuition Fees 

Masters in Economics 

25,000 CAD

Bachelor of Arts in Economics

31,000 CAD

PhD in Economics 

18,000 CAD

Graduate Diploma (GrDip) in Economics 

14,000 CAD

Scholarships for Masters In Economics In Canada

You can apply for several scholarships to study your Masters in Economics in Canada. Students can apply for program-specific as well as graduate-level scholarships. Scholarships from some of the most noteworthy universities in Canada are shown in the table below. You must go through the official website's scholarship page to learn more about the various possibilities for Scholarships or funding.

Name of the Scholarships

Eligibility 

Toptal Scholarships for Women

This Scholarship is only available for highly commendable girls or women in different fields. Winners of this scholarship get 5000 - 10,000 CAD 

Ontario Graduate Scholarship

This is Scholarship given by the University of Waterloo

Mackenzie King Scholarship

This scholarship is offered in several Canadian Universities to international students and local students

AD O’Brien Graduate Scholarship in Public Finance

University of Alberta gives this scholarship.

Alberta Graduate Excellence Scholarship

University of Alberta also gives this scholarship.

Dorothy J. Powell Graduate Scholarship In International Economics

This is a scholarship awarded by the university of Toronto to international students and local students studying masters in economics.

Lise Salvas Foundation Award

This award is given to international students and local students. It is given in honour of the respected Canadian Economist.

Maurice Bouchard Foundation Award

This scholarship is given at the University of Montreal(Université de Montréal) to both international and local students that excel in Economics.

PBEE Merit Scholarships for Graduates

This scholarship is a graduate scholarship for students seeking funding.

Alberta Graduate Excellence Scholarship

The Alberta Graduate Excellence Scholarship acknowledges outstanding academic accomplishment among Alberta graduate students and rewards them with a scholarship.

H. Stanley Hunnisett Fund

According to academic achievement and financial need, graduate students in the department of economics will be given this scholarship.

Jobs & Salary After Masters In Economics In Canada

After completing your Masters in Economics in Canada, you can work in various job sectors and various positions in the country. Canada has lots of job opportunities for graduates of this course. The salary range is impressive because of the high quality of life in Canada.

Some of the most popular job roles for masters in economics graduates in Canada include:

Job Role 

Salary in CAD

Economist 

96,000

Data scientist 

80,000

Data Analyst 

76,000

Economics professor

110,000

Financial analyst 

85,000

Financial manager 

89,000

Hedge fund manager 

120,000

Economic Development Director

90,000

Budget Analyst

77,000

Policy Analyst

72,000

Research Officer

76,210

Consultant

80,000

Financial Market Economist

170,000

Truly, choosing to study your masters in Economics in Canada is an excellent choice for students seeking to broaden their horizons, learn in a very accommodating environment and secure high paying jobs that have room for advancements. The educational system and infrastructure in Canada are praise-worthy and it will remain a popular destination for International students for a long time to come.

Well, that was extensive coverage but we have got more information for you at AECC global. AECC Global is the right place for you to expedite your education endeavours with assistance in all aspects from finding accredited courses, to an ideal destination and a leading institution. The expert counsellors provide guidance and will bring your dreams to life.


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