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2021-02-05 00:01:08

Study economics and business in Canada: guide for foreign students

Study economics and business in Canada: guide for foreign students

Economics and business is an area of study that deals with production, consumption, marketing strategy of goods and services. Economics and Business Canada colleges offer a wide range of undergraduate, graduate, and doctoral courses in economics and business. About 642.5 thousand international students enrolled in various courses in Canada in 2019.

Canada is a beautiful country that attracts tourists and students, favorable conditions for migration make it a good choice for those looking for job opportunities abroad.

Why is studying economics, business in Canada a good option for international students?

  • TOP universities in Canada offering courses in economics, business, ranked in the top 150 colleges in the world according to the QS World Ranking, 2020.
  • According to Job Bank Canada, economists are expecting about 20,000 job openings between 2019 and 2026.
  • According to Job Bank Canada, the average salary of an economist and business administration specialist here is about 70,000 CAD / year.
  • The economic and business sector looks promising as the country's government has already invested about $ 0.8 billion in strategic economic innovation.

The best economics, business colleges in Canada

There are about 346 courses available at 65 colleges in Canada at all levels - from bachelor's to doctoral degrees. When looking for study options in Canada, you need to narrow the number of disciplines.

Specializations available at Canadian colleges of economics:

  • Bachelor's Degree: BA, B.Sc, BBA, B.Com
  • Master's degree: MA, M.Sc, M.Com
  • Doctorate: Ph.D.

Bachelor of Economics, Business in Canada

Bachelor's degree in economics, business in Canada is a 3-4-year professional course devoted to the study of production, consumption of goods, services.

The approximate cost of programs in economics, business in Canadian universities:

  • BBA in Economics for Management Studies, University of Toronto - 163,000CAD $ / year, Thompson Rivers University - 60,000CAD $ / year.
  • B.Sc. in financial economics, University of Toronto - 232 800 CAD $ / g., Ottawa University - 120 900 CAD $ / g.
  • B.Sc. in agricultural economics, McGill University - 136 600CAD $ / year, University of Saskatchewan - 73 100CAD $ / year.
  • Bachelor of Economics, Finance, McGill University - 157,500CAD $ / year.

Economics colleges in Canada: criteria for selecting bachelors

International students must meet certain requirements to take an undergraduate degree in Economics in Canada.

  • High school diploma or equivalent 12-year certificate of education (with mathematics - required) with a cumulative grade of 65-70%.
  • Proof of English proficiency with average scores: IELTS - 6.5, TOEFL - 85–90, PTE - 55-60.
  • Academic reports
  • Payment of registration fee
  • Letter of recommendation
  • Financial confirmation
  • Medical insurance.

Tuition fees for Bachelor of Economics, Business in Canada

The average tuition fee for a bachelor's degree ranges between 52,700-232,000 CAD for the entire program. The cost of living in Canada ranges from C $ 20,000 to C $ 30,000 per year. Various scholarships are available for international students.

MSc in Economics, Business Colleges of Canada

The Master of Economics, Business at Canadian Universities is a 1-2 year course that includes specializations such as Master of Science, Master of Arts, Master of Finance, Master of Business Administration. Master's courses study the subject in detail, acquainting students with real market scenarios.

Economics, business colleges in Canada: criteria for the selection of masters

About 88% of graduates get a job within 3-6 months after completing their master's degree in economics / business. She provides an average salary of $ 85,700 / yr, which is 35% more than an employee with a bachelor's degree (according to Job Bank Canada).

Selection criteria for admission to the Master's degree in Economics / Business:

  • Equivalent bachelor's degree in a relevant field with a minimum of 3.0-3.2 GPA on a 4.0 GPA scale
  • Recognized certificate in English: IELTS - 6-6.5, TOEFL - 80-90
  • GRE points
  • Previous experience in a related field is an added benefit
  • Academic transcripts
  • Confirmation of the results of standardized tests
  • Curriculum Vitae showing academic performance
  • Letter of recommendation
  • RS Purpose Statement
  • Proof of previous experience in economics / business.

Tuition Fees for Master's Degree in Economics, Business in Canada

Tuition fees for a master's degree in economics in Canada range from CAD 15,000 to CAD 112,500, depending on the course specialization and university.

Doctorate in Economics, Business in Canada

Students usually seek employment after completing their graduate studies, but there are a number of graduates seeking a PhD. A recent study by Economics shows that doctoral graduates earn 40% more than masters. Canada spends about 1.7% of GDP on research, according to a recent UNESCO report. For every million inhabitants, there are about 4,541 researchers. The duration of PHD studies in economics and business at local universities ranges from 3-5 years.

Selection Criteria for the Doctorate in Economics from Canadian Universities

  • Excellent academic performance up to a master's degree in relevant fields. Points must be proportional to a minimum of 3–3.3 GPA, 80% or more.
  • GRE grades. The average GRE cutoff is around 310-340.
  • Good marks in English. Average indicators: IELTS - 6.5, TOEFL (IBT) - 86-90, TOEFL (PBT) - 560-567.
  • Registration fee receipt
  • Academic reports
  • Letter of recommendation
  • Research Statement
  • Canadian Standardized Test Scores

Tuition fees for doctoral studies

The average cost of doctoral studies in Canada ranges from $ 31 100-78 100 for the entire program. Scholarships available for doctoral students, funding for the study of international students.

International students can work part-time 20 hours a week: this requires a SIN Collaboration Permit.

Economics business colleges in Canada: jobs, salaries

Canadian higher education is considered one of the best in the world, with about a hundred leading universities and many opportunities. The average economist, business analyst earns from 48,000 to 97,000 CAD $ / year.

Popular Jobs in Business, Economics (CAD $ / year):

  • Economist - 48,000-97,000
  • Economic analyst, business analyst - 49,000-100,000
  • Economic Consultant - 68,000-83,000
  • Economic Policy Researcher - 75,000-95,000
  • Research Marketer - 49,500-84,000
  • Marketing / Business Consultant - 35,000-90,000
  • Business Development Officer - 36,000 - 99,000
  • Economic Development Director - 40,000-110,000.

According to the latest data from Job Bank Canada, the expected number of new vacancies in the economic / business sector will be around 19,800-21,200 over the next 5 years. Graduates with an economics degree receive an average increase of 11% in wages every 13 months, compared with an average increase of 9% in other professional sectors. With an unemployment rate of about 6% in 2020, the country will create new job opportunities for the next 3-5 years, according to Statista.

Top Best Universities in Canada for Economics and Business Studies

  • Toronto School of Management
  • Thompson Rivers University
  • Navitas International College of Manitoba (ICM)
  • Navitas Fraser International College
  • George Brown College
  • Royal Roads University
  • University of Windsor
  • Humber College
  • Navitas ryerson
  • Fanshawe College
  • Sheridan College
  • St Lawrence College
  • Douglas College
  • Collège LaSalle .
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Egor Eremeev
Current material has been prepared by Egor Eremeev
Education: Westminster University (Business & Management), London.
Egor studied and lived in the UK for 8 years and graduated from the university of Westminster. He is currently the co-founder and the director of business development at Smapse Education and personally visits foreign schools and universities, interviews students studying in those institutions.
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