collageAre you burned out from endless hours of searching on the internet for universities in Canada for phd in economics without much success? Are you frustrated at having to put so much effort in trying to get the best universities in canada for phd in economics but ending up with mediocre ones? Have you given up already on the search for the best universities in canada for phd in economics ? Then get ready for this next surprising piece of information. So, if you are a college student studying towards a successful career, your endless hours of search just ended. You just bumped into a website that offers you the best universities in canada for phd in economics and a whole lot more. What more could you ask for?
Economics is the field of study which deals with the production, consumption and marketing strategy of the goods and services. Economics Colleges in Canada provides a huge spectrum of degree courses. With around 642,480 international students getting admitted in different courses in Canada during the year 2019, below mentioned are a few points which show why studying in Canada is a good option.
- Top 5 universities in Canada providing economics courses are among the top 150 colleges in the world according to QS World Ranking, 2020.
- As per Job Bank Canada, the Economics profession has expected vacancies of around 20,000 between 2019- 2026.
- According to Job Bank Canada, the average salary of an Economist in Canada is around 70,000 CAD/year.
- The overall economic sector looks promising because of the investment of around 0.8 billion made by the Canadian Government towards Strategic Economics Innovation.
Top Economics Colleges in Canada
There are around 346 courses available in 65 Economics colleges in Canada, which offers around all levels of degree courses from bachelor’s degree to that of doctoral degrees. Some of the top colleges providing the best economics programs in Canada are mentioned below:
| University | QS Rankings 2020 (Economics) | Programs |
|---|---|---|
| University of British Columbia | #22 | B.A. Economics |
| B.Sc. Economics | ||
| B.Sc. Economics and Mathematics | ||
| Bachelor of International Economics | ||
| Master of Arts (MA) in Economics | ||
| University of Toronto | #24 | B.A. Economics |
| B.Sc. in Financial Economics | ||
| B.A. in Economics and Management Studies | ||
| BBA in Economics and Management Studies | ||
| M.A in Economics | ||
| Master of Financial Economics | ||
| Master of Finance | ||
| PPh.D.in Economics | ||
| McGill University | #51-100 | B.A. Economics |
| B.Com Economics | ||
| B.Sc. Economics | ||
| B.Sc. in Environmental Economics | ||
| B.Com Economics and Finance | ||
| B.A. in Economics and Accounting | ||
| B.Sc. Agricultural Economics | ||
| M.A. Economics | ||
| M.Sc. in Agricultural Economics | ||
| Ph.D. Economics | ||
| Queen’s University, Kingston | #101-150 | B.A. Economics |
| M.A Economics | ||
| MSc. in Business Economics | ||
| Master of Finance | ||
| PhD. in Economics | ||
| PhD. in Business Economics | ||
| University of Montreal | #101-150 | B.Sc. in Economics |
| M.Sc. in Economics | ||
| M.Sc. Management in Applied Economics | ||
| PPh.D.in Economics | ||
| Ph.D. in Applied Economics |
Economics Colleges in Canada: Degree Courses and Specializations
Economics has a wide spectrum of courses and degree specializations. It is a broad subject that caters to different parameters such as production, distribution and consumption of goods and services. While searching for study abroad options, one must look for the course specializations of a particular subject.
Below mentioned are the course specializations that an individual can consider while applying at the top economics colleges in Canada.
| Specializations | |
|---|---|
| International Economics | Financial Economics |
| Economics for Management Studies | Analysis and Economical Policy |
| Agricultural Economics | Business Economics |
| Applied Economics | Population Dynamics |
After knowing the course specializations, it is quite important to gather knowledge about the degree specializations available for the economics courses in Canada.
Following are the degree specializations available at the economics colleges in Canada:
- Bachelor’s Degree: B.A, B.Sc, BBA, B.Com
- Master’s Degree: M.A, M.Sc, M.Com
- Doctorate Degree: Ph.D
Economics Colleges in Canada: Doctoral Courses
It is a general tendency of the students to look for jobs after completing their graduate studies. However, there are a number of students who look for further higher education options i.e., doctoral degrees which in return provide good job opportunities as well as pay structure.
Recent study by Ionomics says, business economists with a doctoral degree earn upto 40% more than that of a master’s degree holder.
Below mentioned are few of the doctoral courses with their fee details and duration at top economics colleges in Canada
| Program | University | Total Program Cost(in CAD) | Duration (years) |
|---|---|---|---|
| Ph.D. in Economics | University of Toronto | 34,900 | 4 |
| McGill University | 55,000 | 3 | |
| Queen’s University, Kingston | 61,900 | 4 | |
| University of Montreal | 78,100 | 3 | |
| Concordia University | 36,500 | 3 | |
| University of Calgary | 69,400 | 5 | |
| Ph.D. in Economic Analysis and Policy | University of Toronto | 38,000 | 4 |
| Ph.D. in Business Economics | Queen’s University Kingston | 31,100 | 3 |
| Ph.D. in Applied Economics | University of Montreal | 66,800 | 4 |
Economics Colleges in Canada: Eligibility Criteria for PhD
According to a recent UNESCO report, Canada spends around 1.7 percent of its GDP on research work. There are around 4,541 Canadian researchers for every million of its occupants. A Ph.D. in Economics ranges from 3-5 years at universities in Canada.
Now let’s discover the eligibility criteria to apply for a Doctorate degree in Economics in Canadian universities:
- Excellent scholarly record throughout till Masters in relevant fields. The scores ought to be proportional to a minimum of 3 – 3.3 GPA, which is equivalent to 80 percent or more.
- GRE scores are accepted. The average cut-off of GRE is around 310-340.
- Good scores in English Language Proficiency. Average Cut off of ELPs:
- IELTS:6.5
- TOEFL(IBT): 86-90
- TOEFL(PBT): 560-567
Documents Required
- Application fee receipt
- Academic Records
- Letter of Recommendation
- Research Statement
- Scores of standardized tests to study in Canada
Economics Colleges in Canada: Fees and Funding for PhD
The average cost of pursuing doctorate courses in Canada ranges from 31,100 CAD to 78,100 CAD for the total program. To sustain the stay in Canada, numerous doctorate scholarships and funding for international students are available in Canada.
Top Economics Colleges in Canada: Scholarships
Average cost of studying in Canada ranges from 40,000 CAD to 50,000 CAD per year, including living expenses. For an international student, this is quite a huge amount to bear. Thus there are many government and university-funded international scholarships in Canada to sustain their stay.
Listed below are few of the renowned scholarships:
| Name of Scholarship | Scholarship Provider | Benefits (in CAD/year) | Eligibility |
|---|---|---|---|
| A.F. Brass Memorial Scholarship | University of British Columbia | 10,800 | International Postgraduate Students |
| Karen Mekellin International Leader of Tomorrow | University of British Columbia | Variable | International Undergraduate Students |
| Ontario Graduate Scholarship | Canadian Provincial Government | 20,900 | International Postgraduate Students |
| Paul Foundation Scholarship | Paul Foundation | 28,654 | Postgraduate and Doctorate Students |
| National Overseas Scholarship | Government of India | 20,290 | All level of students |
Other Funding Options in Canada for International Students
These are few of the assistantship programs which are available in many universities in Canada, these give opportunities to the international students to enroll themselves in these programs.
| Name of the Assistantship/Award | Remuneration(CAD) per year |
|---|---|
| Teaching Assistantship | 10,000 |
| Research Assistantship | Variable |
| Merit Scholarship | 1,000-12,000 |
| Donor-Funded Awards | 20,000 |
International students can also opt for work study options in Canada to help with the expenses that are to be paid for. Students can take up part-time job options and work for 20 hours a week. As a prerequisite for work-study, international students require a Study Permit Work Permit (for co-op) SIN.
Economics Colleges in Canada: Jobs and Salaries
Higher education in Canada is considered to be one of the best in the world with around hundreds of top-ranking universities. Quality education brings plenty of opportunities. On an average, an Economist earns up to 48,000 CAD/annum to 97,000 CAD/annum , whereas a business economist can earn up to 45,000 CAD/annum to 78,000 CAD/annum.
Job positions are again one of the important criteria which are needed to be discussed so that the international students opting for the best economics program in Canada gets an overview of the job culture and salary structure in Canada.
| Designation | Yearly Salary Range(in CAD/year) |
|---|---|
| Economist | 48,000-97,000 |
| Economic Analyst | 49,000-100,000 |
| Economic Consultant | 68,000-83,000 |
| Economic Policy Researcher | 75,000-95,000 |
| Marketing Researcher | 49,500-84,000 |
| Marketing Consultant | 35,000-90,000 |
| Business Development Officer | 36,000-99,000 |
| Economic Development Director | 40,000-110,000 |
- As per recent data provided by Job Bank Canada, the expected new job openings in the economic sector is going to be around 19,800-21,200 in the next 5 years. This is again a good reason to avail of the best economics programs in Canada.
- People from economics background see an average increment of 11% of their salary in every 13 months against an average increment of 9% in the other professional sectors.
- As indicated by insights given by The Globe and Mail in CIC NEWS, Indian Students recently outperformed the Chinese with 172,000 students so far.
- Other than worthwhile pay rates, 60 percent of Economic experts get their bonus at a handsome rate of 2- 7 percent of yearly pay. With an unemployment rate of around 6% in 2020 according to Statista, Canada is very much confident to provide new job opportunities in the coming 3-5 years.
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