7 Top Canadian Universities for Economics Currently

Here, you will find every detail about the top Canadian universities for economics which are internationally and nationally recognized for offering top economics education and degrees.

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7 Top Canadian Universities for Economics

There are 7 top universities in Canada recognized for their excellent teaching in the economics field, these top Canadian universities for economics are;

  1. Department of Economics, University of Toronto

  2. Vancouver School of Economics, University of British Columbia

  3. Department of Economics, York University

  4. Department of Economics, Western University

  5. Department of Economics, University of Alberta

  6. Department of Economics, Simon Fraser University

  7. Department of Economics, McGill University

1. Department of Economics, University of Toronto

The University of Toronto is the first on our list of top Canadian universities for economics and it also ranks 24th best in economics in the world on the Global Subject Rankings according to the US News World Report.

The faculty of economics at the University of Toronto deals with teaching and research spanning across various range of study and cover theory, applied data analysis and econometric methodology.

The faculty offers undergraduate and graduate (masters and PhD) degree programs, with over 1,800 undergraduates, 70 masters and 15 doctorate students enrolled in the program.

Admission Requirement

The following are the admission requirements to enroll in an economics program at the University of Toronto;

  • All undergraduate applicants are required to present a senior/Grade 12 English course
  • Applicants whose first language is not English must take an English language proficiency exam
  • International students must have a valid Canadian study permit
  • Calculus and vectors is an academic requirement for undergraduates
  • For graduate students, an appropriate bachelor’s degree with at least a mid-B (75%) standing in the final year of the program
  • Domestic graduate applicants must take the GRE while international applicants must take the GMAT and submit their test scores
  • Graduate students are also required to complete full-year courses in calculus, intermediate microeconomics, intermediate macroeconomics and statistics.
  • Application fee of CDN$90 for undergraduate applicants and CDN$120 for graduate.

Tuition fee

The tuition fee for undergraduate students who wants to pursue an economics degree at the University of Toronto is CDN$6,100 for domestic students and CDN$57,020 for international students, while for domestic graduate students the fee for the economics program is CDN$30,510 and CDN$49,880 for international students.

2. Vancouver School of Economics, University of British Columbia

The economics department at the University of British Columbia is known as the Vancouver School of Economics and it is one of the best top Canadian universities for economics and is also sitting at the number 25th position in the global subject rankings just behind the University of Toronto.

The Vancouver School of Economics exhibits high research activity and offers undergraduate and graduate degrees.

The school has leading experts in economics, finance and international trade who impart knowledge to students from Canada as well as international students from over 50 countries. Skills students will develop include research, analytical and creative thinking skills, the ability to communicate complex economic issues both orally and in writing, be capable of learning or answering complex local, national and international economic problems and other knowledge that will make students succeed in the labour market.

Admission Requirements

  • All prospective students must demonstrate English language proficiency by taking the TOEFL/IELTS and submit test scores
  • Prospective undergraduate students must have a minimum of 70% in Grade 12 pre-calculus and Grade 12 English, other required related courses are Language Arts, Mathematics and Computation, and Social Studies.
  • All prospective international students must have a valid Canadian study permit.
  • The specific course requirements for graduate applicants are a two-semester course in intermediate microeconomics, a one-semester course in intermediate macroeconomics, and a two-semester course in statistics, econometrics and calculus.
  • International graduate applicants must take the GRE and present test scores, with a minimum score of 160 in the quantitative aspect and 3.5 in the analytical section, GMAT is not required.
  • Graduate applicants will pay a non-refundable application fee of CDN$102 for domestic applicants and CDN$165 for international applicants
  • Application fee for undergraduate applicants is CDN$71.75 for domestic and CDN$120.75 for international.

Tuition Fees

Here, you will find the tuition fees for the Vancouver School of Economics for domestic and international students both on the graduate and undergraduate programs of study.

The tuition fee for undergraduate is CDN$8,810.40 for domestic students and CDN$47,872.50, the domestic graduate tuition fee is CDN$4,995.79 and for the international student, the tuition is CDN$23,460.

3. Department of Economics, York University

The department of economics at York University is one of the top Canadian universities for economics and in the world as well, the department is under the Faculty of Liberal Arts & Professional Studies and offers the program in the undergraduate and graduate levels of study.

The department of economics at York University has standard top professionals to equip students with the analytical skills necessary for understanding and solving complex economic problems and be able to acquire skills to evaluate economic theories and interpret economic behaviour through the use of data and empirical testing.

Admission Requirements

The following are the admission requirements that prospective students entering the economics program at York University need to have, the requirements below covers for both international and domestic students on undergraduate and graduate levels of study. These requirements are;

  • Undergraduate applicants must have completed secondary school and hold the secondary school graduation diploma, with an English 12 and four additional Grade 12 academic subjects
  • All applicants must have a valid Canadian student visa (study permit)
  • Applicants from non-English speaking countries must take an English language proficiency test, like the IELTS/TOEFL
  • Doctorate applicants must have completed a master’s degree in economics which includes a B+ average and strong performance in the areas of macroeconomics, microeconomics and econometrics.
  • Master’s applicants must have completed a 4-year honours baccalaureate degree (with at least a B average in the final two years) and must have successfully completed one term of university-level course in linear algebra, calculus, statistics, and econometrics and two-term courses in intermediate macroeconomics.
  • All applicants are required to pay the application fee of CDN$130

Tuition Fees

Below are the tuition fees for undergraduate and graduate applicants entering the department of economics at York University.

The tuition fee for domestic undergraduate applicants is CDN$6,117.90 and for international applicants, the tuition is CDN$31,496.40. The tuition fee for graduate applicants is CDN$5,571 for domestic students and CDN$19,611 for international applicants.

4. Department of Economics, Western University

The department of economics at Western University is one of the top Canadian universities for economics with an international reputation for excellence in teaching and research, offering both graduate and undergraduate degree programs.

Admission Requirements

To pursue an undergraduate or graduate degree program in Economics at Western University, applicants must possess the following requirements;

  • Masters applicants are required to complete a 4-year bachelor degree in Economics or Finance/Business at an accredited university with intermediate to advanced level microeconomics, macroeconomics and econometrics, and quantitative disciplines such as mathematics, statistics and actuarial science.
  • A minimum GPA requirement of 3.14 for prospective graduate applicants
  • International graduate applicants must possess the GMAT or GRE test scores
  • Applicants whose first language is not English must take an English language proficiency test, the IELTS or TOEFL.
  • Undergraduate applicants must complete all grade 12 academic subjects and other admission requirements pertaining to the educational jurisdiction in which you studied
  • A valid Canadian study permit for international students

Tuition Fees

The tuition fee for undergraduate applicants is CAD8,0376.93 for domestic students and CAD35,935 for international applicants. For international students entering the master’s program, the tuition fee is CAD20,560.92 and for PhD, it is CAD8,673, while domestic students pay CAD10,183.

5. Department of Economics, University of Alberta

The department of economics at the University of Alberta is one of the popular top Canadian universities for economics and is also internationally recognized for her quality research, teaching and service in economics. The department, which was established in 1964, aims to create and disseminate economics knowledge for the benefit of the society and the world as a whole.

This department offers both undergraduate and graduate degree programs spanning across varieties of programs such as labour economics, public finance, masters in economics and finance programs, international economics, resource and environmental economics, development economics, etc. and has up to 8000 students registering for economics classes each year.

Admission Requirements

Below are the admission requirements for international and domestic students aspiring to pursue an economics degree program in the undergraduate, masters and doctorate levels of study at the University of Alberta.

  • All applicants, regardless of where you are from, must take the English language proficiency test with a minimum of 90 for the TOEFL or 6.5 for the IELTS.
  • Required subject for undergraduate applicants is English Language, Fine Arts/Humanities/Math and Sciences.
  • All international applicants must have a valid Canadian study permit
  • GRE for all international graduate applicants
  • Graduate applicants must have completed a 4-year bachelor degree program with GPA of at least 3.0
  • For prospective graduate students, the undergraduate degree should include advanced courses in microeconomics, macroeconomics and econometrics, completed course work in calculus and statistics at the introductory level are also required.
  • Application fee of CAD100 for graduate and CAD125 for undergraduate applicants entering the economics program at the University of Alberta.

Tuition Fees

Below are the tuition fees for both international and domestic students entering the economics program at the University of Alberta into the Bachelor, Masters and Doctorate levels of study.

The tuition fee for undergraduate students in the economics program is $5,692.80 for domestic students and $29,500 while graduate tuition fee is CAD10,500 for domestic students and CAD33,500 for international students.

6. Department of Economics, Simon Fraser University

The department of economics at Simon Fraser University is one of the top Canadian universities for economics and has global recognition as well. The dynamic teaching and learning environment of the department brims with creativity, talent and global connections, equipping students with the talents to develop tools to think systematically about the world.

The department of economics at SFU offers both undergraduate and graduate degree programs to both Canadian citizens and foreigners from all part of the world. Learn about the requirements to facilitate your admission into this prestigious department below.

Admission Requirements

  • All applicant must provide proof of English language proficiency
  • A minimum grade of 60% or C in a senior-level pre-calculus, math or any math subject, minimum of five approved grade 12 courses including English Studies 12 (min 70%) or equivalent for undergraduate applicants
  • Graduate applicants are required to take the GRE
  • Masters applicants must have completed a bachelor degree in economics or any other related field with a GPA of 3.0 while doctorate applicants must have completed masters with a GPA of 3.5.
  • Application fee for graduate students is CAD90 for domestic applicants and CAD125 for international applicants while undergraduate applicants are charged CAD81.

Tuition Fee

The following are the tuition fee for undergraduate and graduate students entering an economics program at the Simon Fraser University;

The undergraduate tuition fee for domestic students is $195.88 (basic – per unit) and $979.24 (basic – per unit) for international students. Graduate applicants pay $1,946.94 (per term).

7. Department of Economics, McGill University

The department of economics at McGill University is one of the top Canadian universities for economics offering quality education at the undergraduate, masters and doctorate levels of study, all offered by renowned scholars of international reputation.

Students in the economics program at McGill University are trained and equipped with mathematical and statistical skills, institutional and historical knowledge, and further general analytical and reasoning skills. With the proper admission requirements, you can be able to pursue your preferred degree program in economics at McGill University.

Admission Requirements

Here, you will find the specific program requirements to facilitate your admission into an economics program at the undergraduate, masters and PhD levels of study whether international or domestic applicants. These admission requirements are;

  • All applicants must submit a proof of English language proficiency
  • All international applicants must have a valid Canadian student visa
  • English or French, calculus and vectors, and biology/chemistry/physics are the required subjects for undergraduate applicants
  • Masters applicants must have a minimum GPA of 3.0 from a completed undergraduate degree at an accredited university
  • Doctorate applicant must have completed masters in an economics program at a recognized university.
  • Graduate applicants are expected to have completed or to complete three terms of introductory calculus and at least one term of linear algebra.
  • International graduate applicants must take the GRE test and submit scores.
  • The application fee for the undergraduate applicant is $114.37 and $117.35 for graduate applicants.

Tuition Fees

This section covers the tuition fees for domestic and international students who want to apply to the economics program at the undergraduate and graduate levels of study at McGill University.

The tuition fee for an undergraduate student is CAD2,622.90 for local students, CAD8,186.40 for other Canadian citizens and CAD18,030.60 for international students.

The tuition fee for all graduate students is CAD13,992.

This brings an end to the details on the 7 top Canadian universities for economics, aside from being the top universities for economics they are also top universities in Canada and have global recognition and reputation for quality education but they also ranked high by a program of study, especially in economics which is why they are listed here.

It is important that you conduct further research on your preferred institution and that is the reason for the link provision so you can be able to contact the admissions officer to learn more on the program of your choice as there are also other branches of economics that you may be interested to study in your masters or Ph.D. program.

The certificates awarded by these schools hold prestige in every top organization in the world and so are the skills you will gain when you partake in any of the economics programs offered by these top Canadian universities for economics. With an economics degree from any of these top universities, you have already gained a competitive edge in the workforce over people with the same career profile.


FAQs on Issues Regarding Economics in Canada

What is Economics?

Economics is a field of study that deals with the production and distribution of wealth utilizing practical and theoretical methods. Economics is actually a branch of social sciences based around the system of the production, buying and selling of goods and services.

The practice of economics dates as far back as before 500 AD, the ancient Greeks at the time were known to use the knowledge in creating and distributing wealth and businesses although it never became a fully established discipline until sometime in the 18th – 19th century, it used to be attached with philosophy.

Today, economics is studied in institutions all over the world although now altered to fit with the model of the modern business world it has not deviated from its original reason of being practiced, as in with the ancient Greeks. With the right institution and quality education, you too can be a professional economist and contribute to the business space.

In altering the ancient economics to fit with modern the world, it was actually made better and even other fields of economics were established and even integrated with other sectors to strengthen it in the aspect of business and wealth distribution.

Fields of Study in Economics

The fields of study in economics are;

  • Behavioural economics
  • Economic history
  • Economic development
  • Financial economics
  • Health and education economics
  • Business economics
  • Agriculture, natural resources and the environment
  • International trade and finance
  • Labour economics
  • Law and economics
  • Urban, rural and regional economics
  • Macroeconomics and monetary economics, etc.

There may be more of these disciplines but these are the common ones and you could decide to establish yourself in one more of these fields through a master or doctorate degree after completing a four-year bachelor degree in general economics.

Economics is an incredibly versatile field of study and can be employed in a wide range of industries, as you have seen above there is Law and Economics, the course develops students to become critical thinkers and there is also the analytical skill it comes with and of course you will be a math whiz in the process as well.

With a degree in economics, you will be able to analyze business-related problems and quickly devise an efficient strategy to tackle the problem. There is no end to where your degree can take you to after all every organization/company must deal with finance since it is even one of the main reasons for establishment.

What are the job opportunities for economics degree holder?

For any finance-related job, economics is a strong foundation it is built on and with your economics degree you are open to the following job opportunities;

  • Economist
  • Financial risk analyst
  • Financial planner
  • Data analyst
  • Financial consultant
  • Investment analyst
  • Accountant
  • Financial broker
  • Import and export advisor
  • Loan officer
  • Management consultant
  • Market research analyst
  • Public affairs coordinator
  • Political campaign worker
  • Lobbying researcher
  • Economic researcher
  • Entrepreneur
  • Bank manager
  • International relations officer, etc.

Most students study economics because it is easier to get a job after graduation as most businesses, organizations and companies need economists, you too should put this into consideration for getting a degree in economics.

The next important thing is where you pursue an economics degree, this is very important especially to employees and even to you as well, the university or college you got your economics degree matters a whole lot. Some schools are known for offering quality education in the course and are even recognized by employees and top organizations all over the world.

Now, getting your economics degree in one of these top institutions will make you a top person as well, well respected among your peers and employees and it has automatically given you an advantage over people with the same work profile when applying for a job.

Also, the country you get the degree should also be put into consideration because while some degrees from some countries are globally recognized others are not and this may affect you when you decide to relocate to another country and it turns out you can’t work with your economics degree in that country because it is not deemed authentic. In this article, you will learn about the right place to get a degree in economics and the top universities as well.

Canada as a place of study

Canada is an interesting place of study, it has all the pecks of a favourable study hub and it is even recognized as both in the national and international categories. Annually, Canada opens her doors to thousands of student to come study in her world-class institutions and earn top degrees.

The degrees awarded at Canadian universities are recognized by employees in any organization all over the world, thus this has solved the problem of studying for an economics degree in the right place. Canada also has top ranking institutions recognized for their excellent education in economics, recognized by various ranking platforms and HR all over the world.

Now that you’ve got this information why don’t you consider studying economics in one of the top universities in Canada.

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