Masters in Economics
Masters in Economics investigate all factors involved in the production, distribution and consumption of goods and services. Economics analyses both small scale (Microeconomics) and global (Macroeconomics) economic factors. Master’s degrees in Economics offered by universities and colleges worldwide teach students how to optimise all economic actions in order to improve the well-being and prosperity of economic entities and consumers.
Who should study a Master’s in Economics? Of course, you should be comfortable with using Math and numbers, but Economics is much more than that. A Master’s degree in Economics might be right for you if you are ready to change the way you look at the world and understand the dynamics of how human behaviour shapes our way of life. Economics is a versatile subject that connects to a wide range of other disciplines, and also a sort of universal language that can be applied in many contexts.
Economics specialisations
Most Economics Masters are offered as M.Sc. (Master of Science) or M.A. (Master of Arts) degrees. It will take 2 years to finish your Master’s studies in most countries around the world. You can specialise in a wide range of subjects such as Financial Economics, Labour Economics, International Economics, Business Economics, International Economics, Environmental Economics, Development Economics, Econometrics, and much more.
Economics classes and skills
While studying an graduate degree in Economics you will attend a variety of classes which vary depending on the university you’ll be attending. Some general classes you are bound to run into include: Financial Economics, Political Economy, Advanced Macroeconomics and Microeconomics, Economic Development, International Business, Corporate Finance, Accounting, and more.
Because Economics is such a broad and overarching field, it has the potential to help students develop a lot of skills they can use in their future careers. You’ll learn how cu evaluate and calculate risk, make predictions about how certain factors will influence the behaviour of society. You’ll become familiar with mathematical models and how to use them, while developing your skills for analysis and synthesis. Economics studies also create a strong basis for future Business studies, due to the deep understanding of market dynamics. Most of all, you’ll learn how to best communicate your findings and ideas to people who are not experts in the field but need your insight to make business decisions.
Economics careers
While a Master’s in Economics is a great source of information and expertise, it doesn’t limit itself to a specific career after graduation. Numerous fields are waiting for Economy graduates in the public and private sectors. You will find work in the government, banks, business journals, or in higher education if you plan of pursuing a PhD in Economics, later on. You will be able to target job titles like economist, consultant, economic analyst, researcher, statistician, data scientist, financial or business analyst or stock market specialist. Economics M.A. graduates can make use of their education in other disciplines like Accounting, Auditing, Insurance, Management, Advertising, Actuaria Science, and more.
Information about Economics Degrees
Economics is a subdiscipline within the field of Social Sciences which studies how goods and services are produced, distributed, traded and consumed. Economics also aims to improve the allocation of resources and create stable, predictable markets that ensure citizens can live prosperous lives. Economists also analyse human behaviour in an effort to find patterns and predict financial decisions based on factors such as risk and reward.
Economics has two sub-disciplines. The first one is Microeconomics, and it analyses the interaction between different economic agents. Macroeconomics, the second one, explores the entire economy of a society.
A Bachelor’s or Master’s degree in Economics teaches you about interest rates, exchange rates, economic indicators, and equity markets, allowing you to see how they all influence different industries around the world. Courses in Economy will also focus on economic theory and fundamental economic principles. Students develop a broad understanding of public policies and their socio-economic impact on legislation, taxes, services, and regulations.
You’ll learn how money was created and understand how barter works. Other classes will deal with banks, the dynamics of debt, what credits are and how they work. You’ll also study financial crashes, their causes and try to come up with ways to prevent future economic disasters.
You’ll have debates on important questions like: do markets self-regulate, or is there a need for government intervention to keep them stable? These will allow you to expand your economic knowledge and further understand how global economies interact between themselves.
To be a great economist you’ll need problem-solving skills, critical thinking, as well as analytical abilities.
Economics graduates have successful careers as economists, financial risk analysts, chartered accountants, investment analysts, statisticians, etc.
Economics
Programs | Application Procedures and Deadlines
Economics
Location
- Department of Economics
- Stephen Leacock Building, Room 414
- 855 Sherbrooke Street West
- Montreal QC H3A 2T7
- Canada
- Telephone: 514-398-3030
- Email: graduate.economics@mcgill.ca
- Website: www.mcgill.ca/economics
About Economics
The Department of Economics offers M.A. and Ph.D. programs that attract students from all over the world. Faculty members conduct research in numerous areas of economics, with particularly strong representation in the fields of econometrics, empirical microeconomics including development, and natural resources. The Department counts among its members a Canada Research Chair, two James McGill Professors, one William Dawson Scholar, an Officer of the Order of Canada, two Fellows of the Royal Society of Canada, and one Endowed Chair.
Lectures and examinations in the graduate program (M.A. and Ph.D.) in Economics are given in the core areas of:
- macroeconomics;
- microeconomics;
- econometrics;
and several fields including:
- economic development;
- financial econometrics;
- industrial organization;
- health economics;
- international economics;
- labour economics;
- monetary economics;
- mathematical economics; and
- advanced theory.
| Master of Arts (M.A.) Economics (Thesis) (48 credits) |
|---|
| Master of Arts (M.A.) Economics (Non-Thesis) (45 credits) |
| Master of Arts (M.A.) Economics (Non-Thesis): Development Studies (45 credits) |
| Master of Arts (M.A.) Economics (Non-Thesis): Population Dynamics (45 credits) |
| Master of Arts (M.A.) Economics (Non-Thesis): Social Statistics (45 credits) |
| Doctor of Philosophy (Ph.D.) Economics |
| This program is currently not offered.The Master of Arts program in Economics (Thesis) serves students preparing for a Ph.D. in Economics. For students who wish to complement disciplinary training in Economics with research experience in applying statistical methods across the social sciences, the Department offers the Social Statistics Option. |
| The Master of Arts program in Economics (Non-Thesis) serves students seeking to solidify and deepen their understanding of economics prior to a career in government or the private non-academic sector, and those preparing for a Ph.D. in Economics. For students who wish to complement disciplinary training in Economics with research experience in applying statistical methods across the social sciences, the Department offers the Social Statistics Option. |
| For those students interested in the interdisciplinary study of development, anchored in Economics, the Department offers the Development Studies Option (DSO). This program is offered as an option within existing M.A. programs in the Departments of Geography, History, Political Science, Anthropology, Economics, and Sociology. Students enter through one of the participating departments and must meet the M.A. requirements of that unit. Students will take an interdisciplinary seminar and a variety of graduate-level courses on international development issues. |
| The Population Dynamics Option (PDO) is open to students wishing to specialize in population dynamics. The purpose of this program is to provide graduate training in demographic methods (including life table analyses) and enhance students’ knowledge of critical population issues. As such, students will be required to take a course on demographic methods and a course in microeconomic methods relevant for population studies. In addition, students will take one complementary course in Economics, which focuses on a particular population issue such as population health, migration, aging, family dynamics, and labour markets and skills acquisition. Students will attend at least five of the seminars given in the Social Statistics and Population Dynamics Seminar series. |
| This program is currently not offered.For students who wish to complement disciplinary training in Economics with research experience in applying statistical methods across the social sciences, the Department offers the Social Statistics Option. Students will normally complete the usual program course requirements, supplemented by further statistical courses, chosen in consultation with the option adviser, and subject to approval by the home department. Students will complete a statistics-based M.A. research paper (Economics, Political Science, Sociology) or thesis (Geography) in conjunction with an interdisciplinary “capstone seminar.”Acceptance into the program is by application to the Social Statistics Option Committee and is contingent on acceptance into the M.A. program in one of the participating departments (Economics, Geography, Political Science, Sociology), which in turn requires meeting Graduate and Postdoctoral Studies admission requirements. |
| The Ph.D. program in Economics is designed to prepare students for research, whether in an academic or government setting, and teaching. The Department’s faculty members conduct research in numerous areas of economics. The low student-faculty ratio ensures students receive individual attention to their own research, and are able to act as research assistants to the Faculty. The Department collaborates with the four other Economics departments in Montreal to extend the Ph.D.-level course offerings and to offer numerous external speakers and conferences. |
Note: Changes may take place after this information has been published. Students are advised to contact the Department of Economics for supplementary information which may be important to their choice of program.Taken from Programs, Courses and University Regulations 2020-2021 (last updated Jan. 16, 2020).
Economics Admission Requirements and Application Procedures
Admission Requirements
An Honours B.A. in Economics is the normal requirement, although students holding an ordinary B.A., whether in economics or another discipline, may also be eligible for admission. Students judged by the Admissions Committee to have deficiencies in their preparation in economics may be admitted to a Qualifying year in which they undertake advanced undergraduate work.
Students who have not previously passed a suitable course in statistics must take the undergraduate Honours Statistics course, ECON 257D1/D2. Students are also expected to have completed or to complete three terms of introductory calculus and at least one term of linear algebra.
If your education has been interrupted or if you do not have an undergraduate or graduate degree in economics from a Canadian university, you must take the Graduate Record Examination (GRE; General Test) and arrange for your scores to be sent to us.Note: The Graduate Management Admission Test (GMAT) cannot be substituted for the GRE. McGill University’s institutional code is 0935, and the Department of Economics’ code is 1801. For more information about the GRE, please visit their website.
Application Procedures
McGill’s online application form for graduate program candidates is available at www.mcgill.ca/gradapplicants/apply.
See University Regulations & Resources > Graduate > Graduate Admissions and Application Procedures > Application Procedures for detailed application procedures.
Information can be accessed on the Economics Department website at www.mcgill.ca/economics.
Additional Requirements
- GRE – mandatory if your education was interrupted or you do not have a degree in Economics from a Canadian university
- Personal Statement
Application Dates and Deadlines
Application opening dates are set by Enrolment Services in consultation with Graduate and Postdoctoral Studies (GPS), while application deadlines are set by the Economics Department and may be revised at any time. Applicants must verify all deadlines and documentation requirements well in advance on the appropriate McGill departmental website; please consult the list at www.mcgill.ca/gps/contact/graduate-program.
| Application Opening Dates | Application Deadlines | |||
|---|---|---|---|---|
| All Applicants | Non-Canadian citizens (incl. Special, Visiting & Exchange) | Canadian citizens/Perm. residents of Canada (incl. Special, Visiting & Exchange) | Current McGill Students (any citizenship) | |
| Fall Term: | Sept. 15 | Jan. 15 | Jan. 15 | Jan. 15 |
| Winter Term: | N/A | N/A | N/A | N/A |
| Summer Term: | N/A | N/A | N/A | N/A |
Admission to graduate studies is competitive; accordingly, late and/or incomplete applications are considered only as time and space permit.
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