The Best Universities for Economics in Canada (2025)

Studying economics at Canadian universities offers numerous advantages, making Canada a popular destination for international students.

Universities for Economics in Canada

High Academic Standards and Quality Education:
Canadian universities are renowned for their rigorous academic standards and prestigious economics departments. They provide strong theoretical knowledge alongside practical skills, preparing students for the job market and advanced studies.
Dynamic and Diverse Economy:
Canada’s economy is both dynamic and diverse, serving as an excellent real-world case study for economic principles. Students can observe firsthand the impact of various economic policies on national growth and development.
Extensive Research Opportunities:
Canadian universities offer opportunities to conduct research in traditional and emerging areas such as behavioral economics, environmental resource economics, and development economics. This fosters innovation and contributes to the generation of new knowledge.
Strong Employment Prospects:
Graduates of Canadian economics programs, particularly at the master’s and doctoral levels, often enjoy excellent career opportunities thanks to the analytical and critical thinking skills they acquire during their studies.

Top Universities for Economics in Canada

The tables below list the 10 top universities for economics in Canada according to three major global rankings: Times Higher Education (THE), QS World University Rankings, and Academic Ranking of World Universities (ARWU).
These rankings help students understand the international standing of Canadian universities and compare them globally.

Times Higher Education Rankings

Canada Rank	University	Global Rank
1	University of Toronto	24
2	University of British Columbia	29
3	University of Montreal	=79
4	McGill University	=84
5	Western University	96
6	University of Alberta	101–125
7	University of Waterloo	126–150
8	McMaster University	201–250
9	York University	201–250
10	Simon Fraser University	251–300

Note: THE rankings emphasize academic and teaching quality but do not include employer-specific metrics.

QS World University Rankings

Canada Rank	University	Global Rank
1	University of Toronto	21
2	University of British Columbia	=23
3	McGill University	90
4	University of Montreal	=139
5	Queen’s University at Kingston	=156
6	Western University	175
7	University of Alberta	201–250
8	University of Calgary	251–300
9	University of Waterloo	251–300
10	York University	251–300

Note: QS rankings focus on student-centric metrics such as student-to-staff ratio, international recruitment, and employer reputation. They give less weight to research compared to other ranking systems.

Academic Ranking of World Universities (ARWU)

Canada Rank	University	Global Rank
1	University of Toronto	19
2	University of British Columbia	48
3	University of Montreal	101–150
4	University of Ottawa	101–150
5	Western University	101–150
6	University of Calgary	151–200
7	York University	151–200
8	Carleton University	201–300
9	McGill University	201–300
10	Queen’s University at Kingston	201–300

Note: ARWU rankings focus on the presence of elite academics and the future academic success of graduates. They do not directly assess the quality of education or other aspects of university performance.

Conclusion

Studying economics in Canada offers international students a unique opportunity to benefit from high-quality, research-focused education while gaining firsthand experience of one of the world’s most dynamic economies.
Universities such as Toronto, British Columbia, and McGill consistently rank among the top globally, each offering distinct pathways for academic and professional growth in economics.

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