Studying for a master's in economics in Canada offers numerous benefits to international students. Canada is home to many top-ranked universities that offer high-quality programs in economics, allowing them to develop their skills and knowledge in this field.

Pursuing an MSc in economics in Canada can open up numerous career opportunities for graduates. Canada has a growing demand for professionals with expertise in economics, particularly in areas such as public policy, finance, and data analysis. Graduates of economics programs in Canada are well-equipped to pursue various career paths in the private and public sectors.

Canada also has a well-developed market economy, which provides ample opportunities for students to apply their theoretical knowledge in real-world settings via placements and internships.

Read ahead to find the best courses, their entry requirements and international fees for leading economics universities in Canada (QS World University Rankings by Subject 2024). Book a free consultation with SI-Canada today to learn more or begin your study in Canada application today!

Top 10 Canada Universities to Study Master of Economics

Find the top ranking universities and colleges in Canada for economics (QS World University Rankings by Subject 2024) below.

1. University of Toronto

The University of Toronto offers several graduate programs in economics, including a Master of Arts in Economics, a Master of Financial Economics, a Master of Applied Economics, and an interdisciplinary program, a Master of Science in Sustainability Management, which combines business, economics, and environmental studies to prepare students for a career in sustainability management.

All courses have different durations and approaches to advancing the study. The university's world-class faculty teaches using a combination of theoretical and practical aspects to enhance the students' learning experience.

• Suggested Course: Master of Arts in Economics
• International Fees: CA$ 55,560
• Entry Requirements: Candidates must have an appropriate bachelor's degree with at least a mid-B (75%) and GRE scores, as well as English Language proficiency test scores. 

2. University of British Columbia

UBC offers various postgraduate programs in economics. The university is known for its quality research faculty and intensive training in applied work and the subject's theory. The department also offers various specializations, including a Master of Arts in Economics, a Master of Food and Resource Economics, a Master of Science in Economics, a Master of Health Administration, and a Master of Business Administration.

The UBC faculty specializes in imparting high-quality education in applied and theoretical econometrics, development economics, economic history, environmental economics, macroeconomics, international trade and much more. 

• Suggested Course: Master of Arts in Economics
• International Fees: CA$ 28,252
• Entry Requirements: Applicants must hold a bachelor's degree with a strong academic record and GRE or GMAT Scores. International students may also need to provide TOEFL or IELTS scores.

3. McGill University

Founded in 1821, McGill University is among Canada's oldest and most prestigious educational institutions. The university offers several Master of Economics programs, including Master of Arts in Economics, Master of Science in Economics, Master of Management in Finance, and Master of Business Administration/Master of Arts (MBA/MA) in Economics, which is a joint program offered by Desautels Faculty of Management and the Department of Economics.

• Suggested Course: Master of Economics
• International Fees: CA$ 24,693 per year
• Entry Requirements: Candidates must have a bachelor's degree, a strong academic record, and GMAT or GRE scores (for some programs). International candidates may also need to provide TOEFL or IELTS scores.

4. Université de Montréal

Through its Department of Economics, Université de Montréal offers several Master of Economics programs for students to choose from, including a Master of Arts (MA) in Economics, a Master of Mathematical and Computational Finance, and a Specialized Graduate Diploma in Mathematical and Computational Finance. After graduation, students can get the chance to work in the industries of labour economics, international trade, financial and banking, market analysis, industrial economics, agricultural economics, and political economics.

• Suggested Course: Master of Arts in Economics
• International Fees: CA$ 17,348 per year
• Entry Requirements: Candidates must have a bachelor's degree in the related field and a strong academic record. GMAT or GRE scores and English language proficiency scores are also required. 

5. Queen’s University at Kingston

Established in 1841, Queen’s University of Kingston is Canada’s oldest degree-granting university. It offers students cutting-edge educational facilities and amenities to help them throughout their studies. The master of economics curriculum designed by the Queen’s Department of Economics deals with several prospects to expand knowledge and skills, providing students with hands-on industry experience. 

Master of Economics allows students to pursue internships, apprenticeships, and project work to go above and beyond their academics to meet industry requirements. Overall, the course is a unique opportunity that encourages students to achieve outstanding academic and professional success. 

• Suggested Course: Master of Economics
• International Fees: CA$ 15,166 per year
• Entry Requirements: Bachelor’s degree in a relevant field. GMAT or GRE scores with English language proficiency test scores

6. Western University

The Master of Economics at Western University is a collaborative program of the Department of Economics, the Department of Statistical and Actuarial Sciences, the Ivey Business School, and the Faculty of Law.  The 16-month graduate course is designed to develop analytical and quantitative skills to pursue successful finance, investments, and risk management careers with banks, pension funds, and regulatory institutions. With intense practical and classroom experience, you can succeed in a highly competitive and rapidly evolving financial market. 

• Suggested Course: Master of Financial Economics
• International Fees: CA$ 29,656 per year
• Entry Requirements: Bachelor’s degree in economics/finance/business, GMAT/GRE with English language skills qualification

7. University of Alberta

The Department of Economics of the University of Alberta offers three graduate economics programs: a 12-month MA in economics, a 24-month MA in economics and finance and PhD in economics. The Master of Economics course trains you for employment as an economist. During the course, you are expected to take 14 courses, such as microeconomic and macroeconomic theory and applied econometrics, followed by a summer internship. Faculty and students are encouraged to perform research in areas like health economics, labour and education economics, and natural resource and energy economics. 

• Suggested Course: Master of Arts in Economics and Finance
• International Fees: CA$ 13,972 per year
• Entry Requirements: A bachelor's degree in Economics with English language proficiency and an English Language skills test

8. University of Calgary

The University of Calgary offers an Economics degree in course-based and thesis-based programs. The curriculum is designed to provide you with a strong theoretical and practical knowledge foundation, allowing you to explore the topics behind economics studies. Graduates with an economics degree can pursue careers in regulatory agencies, central banks, and international organizations like the International Monetary Fund. 

• Suggested Course: Master of Arts in Economics
• International Fees: CA$ 17,650 per year
• Entry Requirements: A bachelor’s degree in economics with minimum qualifying marks in GRE/GMAT and IELTS/TOEFL/PTE

9. University of Waterloo

The economics coursework at the University of Waterloo aims to develop your analytical and problem-solving skills through lectures, research, and practice. During the coursework, you will gain an understanding of topics such as economic theory, econometric tools, and research methods. Economic graduates can hold prestigious positions both inside and outside the academics. 

• Suggested Course: MA in Economics
• International Fees: CA$ 18,063
• Entry Requirements: Bachelor’s degree in economics with at least minimum qualifying mark in GRE/GMAT and IELTS/TOEFL

10. McMaster University

McMaster University’s Department of Economics is well known for its macroeconomics, microeconomics, and econometrics research. The economics subject provides a comprehensive understanding of advanced economics, combining theoretical and empirical methods. During the course, students can choose electives in various fields, such as population economics, health economics, international trade, and international finance. After completing the course, graduates can pursue careers as personal finance advisors, policy analysts, and external auditors. 

• Suggested Course: MA in Economics
• International Fees: CA$ 17,555
• Entry Requirements: Bachelor’s degree in economics with at least minimum qualifying mark in GRE/GMAT and IELTS/TOEFL

Study MSc Economics in Canada

If you want to study MSC economics in Canada, arrange a free consultation with SI-Canada today.