Master’s in Economics in Canada for Indian Students
Get comprehensive guidance from experts and turn your dream of pursuing a Master’s in Economics in Canada for Indian Students for indian student into a reality.
For Indian students seeking a Masters in Economics Canada is the perfect choice because of its top-notch educational system and friendly, diversified culture.
Prominent Canadian universities for economics, such as the University of British Columbia, the University of Toronto, and McGill University, offer state-of-the-art top economics programs that allow students to learn sophisticated research techniques and analytical abilities.
In addition to earning a degree that is respected throughout the world, selecting Canada for your Masters in Economics Canada program will provide you access to a wealth of opportunities in a vibrant, multicultural setting.
Best Economics Programs in Canada
Pursuing an MA Economics in Canada offers Indian students a blend of world-class education and valuable international exposure.
- Canadian universities offering MA in Economics typically have 1-3 intakes per year.
- The primary intake is in Fall (September), with some universities offering additional intakes in Winter (January) or Summer (May).
- Application deadlines for Fall intake usually fall between December and March, but it’s crucial to check specific university guidelines.
Program Duration:
- The MA in Economics in Canada can generally be completed in 1 to 2 years, depending on the structure of the program.
- Students can choose between thesis-based Economics Canada programs, focusing on research, or course-based programs for a more practical approach.
Cost Considerations:
- Tuition fees in Canada for a Master’s in Economics range from CAD 15,000 to 30,000 per year, varying by university.
- Living expenses in Canada are estimated at CAD 10,000 to 15,000 per year, covering accommodation, food, and transportation.
Post-Study Work Opportunities:
- After completing their MA Economics Canada, Indian students can benefit from post-study work in Canada through the Post-Graduation Work Permit (PGWP), which allows them to work for up to 3 years based on program duration.
Top Universities for Economics in Canada
According to their QS World University Rankings 2025, the top AECC partner universities that offer a Masters in Economics Canada to Indian students are listed below.
University of Toronto
The University of Toronto is one of Canada’s top-ranked universities, known for its comprehensive and rigorous MA in Economics program. Offering both thesis-based and course-based options, the program equips students with a deep understanding of economic theory, quantitative analysis, and research methods.
University Name | University of Toronto |
QS World Ranking 2025 | 21 |
Type | Public |
Acceptance Rate | 43% |
Student/Faculty Ratio | 13:1 |
Location | Toronto, Ontario |
Average Tuition Fees | CAD 30,000/year (₹18,60,000/year) |
Popular Programs | MA in Economics, MA in Financial Economics |
University of British Columbia (UBC)
The University of British Columbia (UBC) offers a highly respected MA in Economics program. With a focus on areas such as labour economics, development economics, and econometrics, UBC provides students with a robust understanding of the economic challenges faced by businesses and governments.
The program offers flexibility with both thesis-based and course-based options, and students benefit from UBC’s strong ties to the tech industry, research centres, and policy think tanks.
University Name | University of British Columbia |
QS World Ranking 2025 | 34 |
Type | Public |
Acceptance Rate | 52% |
Student/Faculty Ratio | 15:1 |
Location | Vancouver, British Columbia |
Average Tuition Fees | CAD 25,000/year (₹15,50,000/year) |
Popular Programs | MA in Economics, MA in Development Economics |
McGill University
McGill University’s MA in Economics is designed to provide students with both a strong theoretical foundation and practical skills in economic analysis. The program offers specialised courses in microeconomics, macroeconomics, and econometrics, allowing students to tailor their studies to their career interests.
The university’s rich academic environment, coupled with its international reputation, provides students with numerous opportunities for research, internships, and networking, making it an excellent choice for aspiring economists.
University Name | McGill University |
QS World Ranking 2025 | 30 |
Type | Public |
Acceptance Rate | 46% |
Student/Faculty Ratio | 12:1 |
Location | Montreal, Quebec |
Average Tuition Fees | CAD 20,000/year (₹12,40,000/year) |
Popular Programs | MA in Economics, MA in Development Economics |
Eligibility Requirements for Master’s in Economics in Canada
To apply for a Master’s in Economics in Canada, applicants generally need a recognized bachelor’s degree in economics or a related field, along with a strong academic record.
Most universities also require proof of English language proficiency through tests like IELTS or TOEFL, and a solid foundation in mathematics and statistics. Additional requirements may include letters of recommendation, a statement of purpose, and sometimes relevant work experience.
- Eligibility Criteria
- Academic Qualifications- A bachelor’s economics degree in Canada or related fields with a minimum GPA of 3.0/4.0 (equivalent to 70–75%).
- English Language Proficiency
- IELTS: Overall 6.5 (no band less than 6.0).
- TOEFL iBT: Minimum 90 (with 22 in writing).
- GRE Scores- Top colleges require it, with an emphasis on the quantitative portions.
- Admission Steps
- Research Programs: AECC partner universities on the shortlist.
- Submit Application: Fill out the online form and pay the $CAD 100–200 fee.
- Evaluation: Applications are examined for merit and eligibility for master's in Canada.
- Get the offer letter, then pay the registration money to accept the offer.
- Canadian Student Visa Application: Apply for a study permit in Canada.
- Required Documents
Here is the list of the required documents for eligibility for a master's in Canada.
Required Documents | Details |
Academic Transcripts | Bachelor’s degree, with marksheets. |
Statement of Purpose (SOP) | Describing academic goals and career in economics Canada. |
Letters of Recommendation (LORs) | Minimum two from professors/employers. |
Resume/CV | Highlighting relevant achievements. |
Proof of English Proficiency | IELTS/TOEFL scores. |
Financial Proof | Bank statements showing tuition/living expense coverage. |
Cost and Financial Aid Options for Economics Programs in Canada
Here’s a range of cost of studying economics and financial aid options that you can go for if you are planning to pursue your Masters in Economics Canada:
Expense | Cost Range (CAD) | Cost Range (INR) | Details |
Tuition Fees | 20,000 - 30,000/year | ₹12,40,000 - ₹18,60,000/year | Based on the university and program. |
Living Expenses | 10,000 - 15,000/year | ₹6,20,000 - ₹9,30,000/year | Includes rent, food, and transport. |
Books & Supplies | 1,000 - 2,000/year | ₹62,000 - ₹1,24,000/year | Academic materials. |
Health Insurance | 600 - 1,000/year | ₹37,200 - ₹62,000/year | International students Canada |
Miscellaneous Expenses | 1,000 - 2,000/year | ₹62,000 - ₹1,24,000/year | Personal and leisure expenses. |
Related Blog: Cost of Living in Canada Cost of Studying in Canada
Financial Aid Options
- Economics Scholarships Canada
- Ontario Graduate Scholarship (OGS): CAD 15,000/year.
- University-specific Awards: Example: UBC Graduate Scholarships.
- Research Assistantships- Receive a salary while working under faculty supervision.
- Education Loans- Indian banks offer education loans with alternatives for postponed repayment.
Related Blog: Canada Scholarships
Job Opportunities in Canada After Completing a Master’s in Economics
The wide range of professional options available to graduates with a Masters in Economics in Canada should be emphasised. The fascinating opportunities in Canada's vibrant economy are not limited to the following positions.
Career Prospects
- Economic Analyst: Analyse economic statistics and the effects of policy as an economic analyst.
- Policy Advisor: Assist government organisations in formulating public policy.
- Data Scientist: Analyse data trends using econometrics.
- Financial Analyst: Offer forecasts and investing recommendations.
- Academician: Seek positions in teaching and research.
Average Salaries
Job Role | Average Salary (CAD) | Average Salary (INR) |
Economic Analyst | 70,000 - 90,000/year | ₹43,40,000 - ₹55,80,000/year |
Data Scientist | 80,000 - 100,000/year | ₹49,60,000 - ₹62,00,000/year |
Policy Advisor | 75,000 - 95,000/year | ₹46,50,000 - ₹58,90,000/year |
Takeaway
Pursuing a Master's in Economics in Canada offers Indian students a unique blend of high-quality education, diverse specialisations, and exposure to global economic practices. With access to world-class universities, generous scholarships, and opportunities for post-study work, it provides a strong foundation for careers in academia, policymaking, and industries worldwide. For Indian students, the multicultural environment and practical learning experiences in Canada open doors to both personal and professional growth, making it an ideal destination for economic studies.
Shape your future with a Master in Economics in Canada! AECC offers expert guidance on top universities, scholarships, and visa support for Indian students—start your journey today.
With a dynamic career in international education and corporate finance, Anuj Gupta offers a unique and strategic perspective for students looking to study abroad. He is a certified expert for Canada, holding a certification from ICEF Canada, a globally recognised standard for excellence in student counselling.
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Currently, as the Head of Client Relations & Development for Canada, Germany, and Dubai, Anuj has the most current, high-level insights into these key study destinations. He has progressed through the ranks at AECC, from Team Lead for Canada to his current leadership position, giving him a deep, practical understanding of every stage of the student journey.
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Anuj holds an MBA in Finance, making him exceptionally qualified to advise on the financial aspects of studying abroad. When you read his articles, you're gaining knowledge from a certified strategist with a strong corporate background.