Masters in Economics in Canada is generally considered to be a 2 years graduate program for both domestic and international candidates. Many Canadian universities offering Masters in Economics in Canada add skills and knowledge to each individual. A 4 years bachelor’s degree with a minimum of 83%-86% in a relevant field is necessary for Masters in Economics in Canada. International students may also need to have a GRE test score of 305 or more for an MA in Economics in Canada. The range of IELTS scores: 6.5-7.5 and TOEFL: 86-110 is the overall English Language Proficiency test requirements for admission. The tuition fee to study the course of Masters in Economics in Canada ranges from CAD 16,800-40,000 (INR 10,09,876-24,04,467). International graduate students after studying Masters in Economics in Canada can expect to earn up to CAD 56,400-1,19,200 (INR 33,86,254-71,56,764). The University of Toronto, University of Alberta, University of British Columbia, etc are some of the top universities offering Masters in Economics in Canada. Google, Deloitte, Scotiabank, Statistics Canada, etc. are some of the top recruiters hires after Masters in Economics in Canada.
Table of Content
4.1 Application Deadline to Apply for Masters in Economics in Canada
5.1 Cutoff of Popular Canadian Universities Offering Masters in Economics in Canada
Why Study Masters in Economics in Canada?
There are multiple reasons for students for choosing to study a Master in Economics in Canada. Some of the top reasons for considering Masters in Economics in Canada are:
- The students studying in Canada are assured of high-quality education since all the universities are ranked top.
- There is a diverse set of people from different cultures studying in Canada.
- International students have wide opportunities to work and research after their studies in Canada.
- Faculty at universities in Canada are highly intellectual and they know all the tactics to teach the students.
- International students can also find the course Masters in Economics in Canada affordable.
- Canadian universities offering Masters in Economics in Canada has skilled professional teachers.
- 14 Canadian Universities offering the programs of Masters in Economics in Canada ranked in the top 500 according to the QS World Ranking 2023.
An overview of pursuing Masters in Economics in Canada are as follows:
| Program | Masters in Economics in Canada |
| Degree Type | MA Economics Canada, MSc Economics Canada, |
| Program Type | Full-time |
| Program Duration | 2 years |
| Program Eligibility | 4 years Bachelor’s degree with an 83%-86% aggregate |
| English Language Proficiency Requirements | IELTS: 6.5-7.5 TOEFL: 86-110 |
| Entrance Exam Requirement | GRE: Verbal score of 160, Quant score of 155 |
| Tuition Costing | CAD 16,800-40,000 (INR 10,09,876-24,04,467) |
| Average Salary | CAD 56,400-1,19,200 (INR 33,86,254-71,56,764) |
Masters in Economics in Canada Areas of Specialization
There are several areas of specialization available for students pursuing a Master in Economics in Canada:
- Microeconomics
- Development Economics
- Macroeconomics
- Environmental Economics
- Econometrics
- International Economics
- Public Economics
- Agricultural Economics
- Financial Economics
- Financial Theory
- Risk Management
- Quantitative Methods
Best Universities for Masters in Economics in Canada
Canada has top-ranked universities that offer excellent Masters courses in economics. Here are some of the best universities for Masters in Economics in Canada:
| University | Program | Fees |
|---|---|---|
| University of Toronto | Master of Financial Economics (MFE) |
|
| The University of Alberta | MA in Finance and Economics | CAD 26,622 (INR 15,98,384) |
| McGill University | MA in Economics, MSc. Agricultural Economics | CAD 27,010 (INR 16,21,679) |
| The University of British Columbia | MA in Economics | CAD 28,252 (INR 16,96,249) |
| University de Montreal | Masters in Economics | CAD 43,008 (INR 25,82,199) |
| The University of Waterloo | MA in Economics | CAD 25,788 (INR 15,48,310) |
| Western University | Master of Financial Economics (MFE) | CAD 18,782 (INR 11,27,670) |
| University of Calgary | MA in Economics | CAD 14,700 (INR 8,82,587) |
| Queen’s University at Kingston | MA in Economics | CAD 23,393 (INR 14,04,515) |
| Dalhousie University | MA in Economics | CAD 9,099 (INR 5,46,303) |
CAD 1= INR 60.14 (as per dated 05/03/2023)
Admission Process for Masters in Economics in Canada
The admission process for a Masters in economics in Canada is quite easy. From university to university, the admission process might vary. Candidates should follow the following steps for easy admission:
- Choose the best university as per budget.
- New account creation by clicking on the “Apply Now” section of the chosen university.
- Checking out the eligibility requirements
- Fill out the application form online.
- Paying the non-refundable application fee.
- Wait for the acceptance offer
Application Deadline to Apply for Masters in Economics in Canada
Important deadline dates to apply for the course of Masters in Economics in Canada are as follows:
| University | Application Deadline |
|---|---|
| University of Toronto | January 10, 2023 (closed) |
| The University of Alberta | January 31, 2023 (closed) |
| McGill University | January 15, 2023 (closed) |
| The University of British Columbia | January 31, 2023 (closed) |
| University de Montreal | February 01, 2023 (closed) |
| The University of Waterloo | February 01, 2023 (closed) |
| Western University | January 15, 2023 (closed) |
| University of Calgary | January 15, 2023 (closed) |
| Queen’s University at Kingston | February 01, 2023 (closed) |
| Dalhousie University | March 01, 2023 (closed for September term) |
CAD 1= INR 60.14 (as per dated 05/03/2023)
Eligibility Criteria for Masters in Economics in Canada
The eligibility criteria for a Masters in economics in Canada is different for a different university. However, here are some common eligibility requirements for universities:
- A candidate must have a four-year bachelor's degree in economics or a related field from a recognized University.
- Must have a 3.0 or 4.0 GPA in the past academic record.
- IELTS score of 6.5-7.5
- TOEFL score of 86-110
- Professional work experience required by certain universities
- Student visa is required by International candidates to study Masters in Economics in Canada.
Cutoff of Popular Canadian Universities Offering Masters in Economics in Canada
The cutoff of popular universities offering Masters in Economics in Canada are as follows:
| Universities | Score Cutoff |
|---|---|
| University of Toronto | TOEFL iBT: 93 TOEFL PBT: 580 IELTS: 7.0 Duolingo: 120 GMAT: 550 |
| University of Alberta | TOEFL iBT: 90 IELTS: 6.5 PTE: 61 Duolingo: 115 GMAT: 550 |
| McGill University | TOEFL iBT: 90 TOEFL PBT: 567 IELTS: 6.5 PTE: 65 Duolingo: 125-130 GMAT: 550 |
| The University of British Columbia | TOEFL iBT: 90 IELTS: 6.5 Duolingo: 125 PTE: 65 GMAT: 550 GRE: 155 for both Verbal and Quantitative sections |
| The University of Waterloo | TOEFL iBT: 90 IELTS: 6.5 PTE: 63 Duolingo: 120 |
| Western University | TOEFL iBT: 83 IELTS: 6.5 PTE Academic: 58 Duolingo: 115 GMAT: 600 |
| University of Calgary | TOEFL iBT: 86 IELTS: 6.5 Duolingo: 115 PTE: 60-70 GMAT: 550 GRE: Equivalent to GMAT |
| Queen’s University at Kingston | TOEFL iBT: 88 IELTS: 6.5 PTE Academic: 60 Duolingo: 110 GMAT: 600 GRE: 315 (Verbal and Quantitative) |
Admission Document Requirement for Studying Masters in Economics in Canada
The admission document requirements for a Masters in Economics in Canada can vary depending on the university. Some common admission documents are given below:
- Official academic transcripts of the 10th, 12th, and undergraduate programs should be available.
- At least 2 to 3 Letters of Recommendation (LOR)
- Statement of purpose (SOP) required by the university.
- English language proficiency test scores: The score of either IELTS or TOEFL should be available for admission in Canada.
- Standardized test scores
- GRE or GMAT scores.
- Updated CV
Masters in Economics in Canada Cost of Attendance
The cost of Masters Degree in Economics in Canada can vary depending on a number of factors. The breakdown of the average monthly expenses are as follows:
| Expense Type | Cost |
|---|---|
| Accommodation | CAD 400-1,500 (INR 24,015-90,059) |
| Rental (shared) | CAD 250-700 (INR 15,009-42,027) |
| Groceries expenses | CAD 1,200-1,500 (INR 72,047-90,059) |
| Electricity and Gas | CAD 200 (INR 12,007) |
| Internet | CAD 50-76 (INR 3,002-4,563) |
| Transportation | CAD 100-150 (INR 6,004-9,006) |
CAD 1= INR 60.14 (as per dated 05/03/2023)
Masters in Economics in Canada scholarship
There are multiple scholarships offered by universities and the government. Each scholarship has a lot to offer to an individual student. Some of the merit-based and need-based scholarships to aid the finance of Masters in Economics in Canada are as follows:
| Name | Eligibility | Amount of the Award |
|---|---|---|
| International Entrance Scholarships | Strong academic achievements | CAD 2,000 (INR 1,20,079) for two semesters |
| Ontario Graduate Scholarship | International students enrolled at the University of Ontario | CAD 5,000 (INR 3,00,199) for per session |
| Mackenzie King Memorial Scholarship | Students continuing a postgraduate degree from a chosen university in Canada | CAD 12,000-13,500 (INR 7,20,479-8,10,539) |
Jobs after MA Economics in Canada
There are various forms of job opportunities available for students with a Masters degree in economics in Canada. Below are given some common jobs that students take up after a Masters in Economics:
| Job Sectors | Average Annual Salary |
|---|---|
| Economist | CAD 70,338 (INR 42,23,091) |
| Research Analyst | CAD 58,437 (INR 35,08,555) |
| Data Analyst | CAD 56,443 (INR 33,88,836) |
| Research Director | CAD 1,19,192 (INR 71,56,284) |
| Senior Analyst, Finance | CAD 81,466 (INR 48,91,216) |
| Executive Assistant | CAD 56,856 (INR 34,13,632) |
| Marketing Data Analyst | CAD 58,294 (INR 34,99,970) |
| Business Analyst | CAD 59,858 (INR 35,93,872) |
| Economic Analyst | CAD 70,859 (INR 42,54,372) |
| Product Analyst | CAD 64,793 (INR 38,90,170) |
| Procurement Manager | CAD 59,169 (INR 35,52,505) |
| Product Specialist | CAD 56,689 (INR 34,03,606) |
CAD 1= INR 60.14 (as per dated 05/03/2023)
Top Recruiters for Masters in Economics in Canada
A graduate with a Masters in Economics in Canada can work at different job profiles. Multiple companies from around the world wish to hire candidates from some specific university. A list of top recruiters that hire graduates of Masters in Economics are as follows:
- Statistics Canada
- Government of Canada
- Bank of Canada
- Amazon
- RBC
- TD
- Deloitte
- Scotiabank
- PwC Canada
- CIBC
- Sun Life Financial
- McKinsey & Company
- BMO
- EY
- Oliver Wyman
- Manulife Financial
Visa or Work Permit for Studying Masters in Economics in Canada
Anyone who is studying Masters in Economics in Canada should know the work permit system of the country. Usually, an applicant is given 180 days to apply for a post-graduation work permit. Some of the needed documents by International students to avail for a work permit in Canada are as follows:
- ID proof
- Letter of acceptance
- Financial proof
- Tuberculosis test result
ROI for the Top Colleges Providing Masters in Economics in Canada
Each student is thinking about how much their course is going to return them in terms of money. Here is the tuition fee and average annual salary of an individual:
| University | Tuition Fees | Average Salary | ROI |
|---|---|---|---|
| University of Toronto | CAD 57,230 (INR 34,36,087) | CAD 82,986 (INR 49,82,477) | 145 percent |
| The University of Alberta | CAD 26,622 (INR 15,98,384) | CAD 92,580 (INR 55,58,500) | 347 percent |
| McGill University | CAD 27,010 (INR 16,21,679) | CAD 60,400 (INR 36,26,414) | 223 percent |
CAD 1= INR 60.14 (as per dated 05/03/2023)
Candidates can check the above-mentioned Canada Masters in Economics, tuition fees, eligibility, and other details. Studying Masters in economics in Canada is one of the best decisions for an individual's end as they are going to get benefited from the exposure.
FAQs
Ques. What is the salary of MS in Economics in Canada?
Ans. Graduates after completing Masters in Economics in Canada can expect to earn up to CAD 56,400-1,19,200 (INR 33,86,254-71,56,764).
Ques. Is Economics in demand in Canada?
Ans.The placement statistics for the sector of Economics are rising and are likely to grow more by 2024.
Ques.What are the requirements of MA in Economics Canada?
Ans. A 4 years bachelor’s degree with 83%-86% is required for Masters in Economics in Canada.
Ques. Is Economics a high-paying job in Canada?
Ans. The field of Economics is rising in Canada and hence can pay well.
Ques. Which branch of Economics pays the most?
Ans.The sector of corporate economics has the largest pay scale.
![University of Toronto [U of T]](https://static.zollege.in/public/college_data/images/studyabroad/logos/college_104_25-12:44_University_of_Toronto-logo-2417C8AF32-seeklogo.jpeg?tr=w-50,h-50,c-force?tr=h-40,w-35,c-force){kind=logo}
![The University of British Columbia [UBC]](https://static.zollege.in/public/college_data/images/studyabroad/logos/college_64_25-11:13_Capture.jpeg?tr=w-50,h-50,c-force?tr=h-40,w-35,c-force)
![University of Montreal [U de M]](https://static.zollege.in/public/college_data/images/studyabroad/logos/college_71_24-17:54_udem.jpeg?tr=w-50,h-50,c-force?tr=h-40,w-35,c-force)
![University of Alberta [UAlberta]](https://static.zollege.in/public/college_data/images/studyabroad/logos/college_9_24-17:46_alberta-.jpeg?tr=w-50,h-50,c-force?tr=h-40,w-35,c-force)
