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AUTHOR :Ewriting Champs

CATEGORY :Academic

Is Doing Masters in Economics in Canada for International Students Better For Their Career?

Masters in Canada

In Canada, there is a one- to two-year program that offers both a Master of Science and a Master of Arts in Economics (MS). More than 20 Canadian universities offer it, and its annual cost ranges from 13,000 to 45,000 USD (all expenditures included). Additional specialized master's degrees in economics are offered in fields like development economics, economic policy, agriculture economics, and natural resource economics.

Students in Canadian universities have the choice of pursuing masters in Economics in Canada that is thesis- or course-based. You can apply to a master's program in economics in Canada if you have a bachelor's degree and have taken courses in economic theory, microeconomics, econometrics, or mathematics. In Canada, the yearly salary of an entry-level economist is 42,948 USD.

Why should I pursue Masters in Economics in Canada?

Because of its welcoming population and flexible PR restrictions, Canada is a favorite destination for international students who desire to pursue their education overseas. Let's look at the advantages of obtaining a Masters in Economics in Canada.

The QS News Ranking of 2019 for Economics & Econometrics included 18 Canadian colleges among the top 500 universities worldwide.

Canada is expected to add more than 19,800 new jobs for economists by 2026.

British Columbia's expected annual demand growth rate for economic graduates is 1.3 percent.

With five to nine years of experience, an economist may expect to earn up to $54,400 per year.

Working part-time while attending classes is an option for international students who want to pay for their living expenses and gain work experience in Canada.

Each year, there are three intakes available for students, and the immigration and visa processes are easy and friendly (fall, winter, and summer).

List of Top Universities for Masters in Economics in Canada

Here is a list of the best colleges for pursuing higher education in economics, together with information about their ranking, costs, and minimum IELTS scores. 

#29 (Ranking): University of Toronto   

Fees (USD): 74820

Minimum IELTS score: 7.0 

#35 (Ranking): McGill University 

Fees (USD): 13583

Minimum IELTS score: 6.5 

#51 (Ranking): University of British Columbia

Fees (USD): 18675 

Minimum IELTS score: 6.5

#113 (Raking): University of Alberta

Fees (USD): 15750

Minimum IELTS score: 7.0

Eligibility Criteria for Masters in Economics in Canada

The minimum requirements for entry into a Masters in Economics in Canada are as follows. Candidates need to have:

  • Completed a bachelor's degree in economics or a closely related field; candidates trained in advanced economic theory, mathematics, statistics, microeconomics, macroeconomics, and econometrics will be given special consideration.
  • CGPA or GPA of 3 (out of 4) or a minimum of 7 to 8 (out of 10).
  • Examination scores for English language proficiency as needed by the university GRE scores as required by the university (minimum 300 or more)
  • Enough cash to cover living costs while studying in Canada.
  • The applicant's overall intellectual, analytical, and abstract skills are considered when establishing admission eligibility. Having industry experience will make you more appealing to admissions officers.

Documents Required for Admission Masters in Economics in Canada

  • Copies of grades from a previous degree or diploma that have been certified
  • CV (curriculum vitae)
  • Statement of purpose (SOP)
  • letter of recommendations
  • Any more information about their academic or professional achievements
  • Result sheet for the English language assessment
  • Passport copy
  • Financial rationale proving sufficient resources to support living and studying in Canada
  • If any academic credentials

Visa Procedure for Admission to Masters in Economics in Canada

The procedure for applying for a visa to Canada is simple. It would be best if you kept in mind the following actions:

  • You do not require a study visa if you are a member of staff or family member of a foreign representative in the country, enrolled in a course for less than six months, or in any of these situations (with suitable accreditation).
  • Before departing, you should submit an online application for a student visa to Canada at Citizenship and Immigration Canada.
  • A letter of acceptance from an accredited school of higher learning is necessary, along with proof of sufficient funds.
  • Give comprehensive medical records and proof that you don't have any criminal record. 
  • After you finish your course, you will have a 90-day window until the study permit expires. After that, you can apply for a work permit.

Jobs after doing a Masters in Economics in Canada

In Canada, there is already a continual need for qualified economists in various disciplines. A graduate in economics may work as a consultant, health insurance analyst, financial manager, research executive, economic advisor, and other positions.

Graduates have various employment options, including positions with consulting and research firms, government and academic organizations, banks, financial institutions, international agencies, universities, and NGOs.

Graduates with the required abilities can find employment as financial market economists, economists, research officers, budget analysts, economic development directors, consultants, university professors, policy analysts, and more. For instance, research analysts may begin earning $64,000 (49 lahks), while financial market economists may take home a mind-blowing $165,000 annually (one crore). Qualified economists could earn up to $86,180 with experience (about 65 lahks).

The rapidly shifting economic and market dynamics worldwide, the severe competition in the industry, and the tightening of financial regulations are all factors that have raised the demand for economists.

Conclusion

We trust that you now have all the knowledge you require to pursue a bachelor's degree in economics in Canada. All Canadian academic degrees are acknowledged internationally. Your future is, therefore, bright if you want to pursue masters in economics in Canada. If you still have questions, get in touch with our ewriting Champs pros, who have years of expertise and skill in assisting students with realizing their dream of studying abroad.

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