Best Universities for Economics in Canada. Students in the economics program learn about the discipline of economic thinking and gain skills to solve contemporary economic problems. Economics affects every aspect of our lives, whether we know it or not. Regardless of culture, race, or gender, it is a way to observe all human interactions. Economists usually work in local or national governments, public and private banks, accountancy firms, insurance companies, etc.
An economist’s average salary in Canada is $86,824 per year or $44.52 per hour. Most experienced workers earn an average of $117,500 annually, while entry-level positions start at $71,987.
Best Universities for Economics in Canada
To become an Economist, you will need an undergraduate degree in Economics or a related field, a master’s or doctoral degree may be required, and complete internships to gain work experience.
Here are the best universities for Economics in Canada:
University of Toronto
Internationally, the University of Toronto’s Department of Economics ranks among the best. Its 81 faculty members teach and conduct research in various fields, including theory, applied data analysis, and econometrics.
Over 1,800 undergraduates are in the department, and 800 more are at UTM Mississauga. Students can pursue interdisciplinary studies at the graduate and undergraduate levels through collaborations with the Rotman School of Management and the Faculty of Law.
Undergraduate students can enroll in a wide variety of programs offered by the Department of Economics, including Minor, Major, and Specialist programs, as well as joint programs with Rotman School of Management, including the popular Specialist Program in Commerce and Finance.
University of British Columbia
The Vancouver School of Economics at UBC is a top-ranked department in Canada and among the top 20 worldwide. At University of British Columbia’s Economic program, you will gain a deeper understanding of the economy and examine how economic decisions are influenced by social, cultural, and ethical factors. In addition to courses such as Introduction to Game Theory and Applications, you will also study Economics of Renewable Resources.
You can select a minor, major, or honors program in Economics or a combined major in Economics and Statistics, Economics and Political Science, Economics and Mathematics, or Economics and Philosophy.
This program offers expertise in labor, industrial organization, macroeconomics, economic measurement, public policy, transitional economics, economic history, international trade, and finance development.
Robert Mundell, a UBC economics alumnus, won the 1999 Nobel Prize in Economics for his groundbreaking work on exchange rates and monetary policy.
You can become a social policy advisor, economic analyst, financial controller, financial auditor, labor policy analyst, labor relations officer, real estate developer, and more.
Western University
The Economics faculty at Western is an international group of scholars with expertise in conventional economics and numerous fields outside of it. Western researchers specialize in public finance, financial economics, microeconomics, macroeconomics, econometrics, and international trade.
Among these fields, some researchers also specialize in the economics of marriage, family, crime, terrorism, the Chinese economy, education, and personal bankruptcy. Their research has received numerous awards, and they are committed to bringing that research to life for their students through lectures and extracurricular activities.
Current and prospective students can speak to Western economists about the many occupational and vocational benefits of studying economics. In addition, they regularly engage with the media, policymakers, and community leaders.
McGill University
McGill’s Economy department provides a high quality of education at all levels, including undergraduate Minor, Major, and Honours degree programs and graduate study for the Master’s and Ph.D. degrees. These programs are offered by scholars of international reputation and in the company of excellent students from around the world. Students at McGill University can pursue an Economics education either in a non-mathematical and more flexible way as part of the Majors concentration programs or in a more mathematical way as part of the Honours programs.
Researchers at McGill Economics study strategic interactions, the development of volatility in financial markets, and policy and mechanism design. These include policies addressing practical issues like using natural resources, greenhouse gas emissions, economic growth, the development of institutions and policies, healthcare, and the impact on individual well-being.
York University
York is located in Toronto, Canada’s financial and commercial heart, providing opportunities for hands-on learning from industry leaders. York Economics made the top 25% of Canadian institutions and economists on IDEAS (the largest Economics bibliographic database).
The department has over 40 faculty members specializing in micro-finance, international trade, environmental and development economics, labor economics, and market forecasting.
This program teaches you how to analyze and solve complex economic problems. Students benefit from engaging in classroom discussions, collaborative learning, and exciting research opportunities.
You will understand the economic dimension of today’s modern social and political issues, study and evaluate the social effects of public policies, and develop the ability to apply methods of economic analysis to solve problems.
You will gain hands-on experience by networking with peers and business leaders at events like Bank of Canada’s Governor’s challenge and the annual Case Competition.
University of Waterloo
Waterloo’s Economic department has 28 faculty members active in research. Research fields include economic theory, environment and natural resources, industrial organization, health, public economics, macro and monetary economics, law and economics, and more.
In the first year, students study the fundamentals of micro and macro-economy. The upper years cover health economics, finance, sport, public policy, labor economics, and more.
Waterloo’s Economic Society organizes social and academic events for its students. You can add an area of expertise to your degree, such as Financial Economics, Public Policy, or Econometrics.
Through alternate school terms and co-op work terms, you can explore careers and types of employers throughout your degree.
Some co-op job titles include project control officer, information technology or finance support, associate business analyst, assistant internal auditor, or sales operations coordinator.
Some co-op employers include Sun Life Financial, Buytopia, Lug, Human Resources and Social Development Canada.
University of Lethbridge
As an economics student at the University of Lethbridge, you will understand the individual, firm, or government decision-making process. You will learn how market processes lead to the production of goods and services and the effects of interfering with these processes.
Students learn about various topics such as economic systems, banking, private property rights, the economics of marriage and family, employment, environment, inflation, government bailouts, and the national debt.
Lethbridge offers its students several learning opportunities, including cooperative education, international exchanges, and volunteer opportunities. Lethbridge is the only university in Alberta to offer cooperative education to all majors in the arts and sciences at the undergrad and grad levels.
You can find many work opportunities in finance, foreign trade, government, insurance management, taxation, budget consulting, trade and development, strategic planning, business management, or economic geography.