If I have Philosophy as an elective during bachelors, can i do a MA in Philosophy in the future?

MA Philosophy or Master of Arts in Philosophy is a 2-year postgraduate course that offers knowledge related to Schools of Classical as well as Modern philosophy. The minimum eligibility required to pursue this course is a bachelor’s degree from a recognized institute with philosophy or any related subject as the major subject. Yes, you can pursue an MA in Philosophy even if your Bachelor is unrelated to the field. However, you might have to portray the fact that you have the critical thinking skills to benefit from an MA in Philosophy. It’s even better if your Bachelor is in the humanities and social sciences rather than the hard sciences. So it would be a bit challenging if you had no background in philosophy, but having a BA in philosophy isn’t necessary. Usually, an MA in Philosophy requires a writing sample that is at par with the ones submitted by candidates who have done a BA in Philosophy.

I have done Btech in ECE and I have 5 years of work experience as a senior data engineer in an MNC. Can I get admission in University of Toronto without GRE.

No, GRE is not compulsory for admission to the University of Toronto. It is optional for the University of Toronto, but it's highly recommended that you submit with a good score, as it adds credibility to your application. More than the university, the requirement for GRE depends on the specific program that you are applying to at the University of Toronto. It’s better to check your program's website. The website of the University of Toronto for the Department of Electrical and Computer Engineering stated that a GRE score is not required. The Civil Engineering Department also doesn't require the GRE. The website of the Department of Mechanical and Industrial Engineering also does not require it. The Department of Chemical Engineering and Applied Chemistry did not state anything about the GRE requirements. Thus it can be safely concluded that there is no GRE requirement as such for MS in the University of Toronto. However, it is always recommended to have a standardized exam score like GRE for Graduate studies as this will improve your chances of admission.

In what ways can McGill University surpass the reputation of the University of Toronto??

Both McGill University and the University of Toronto are widely reputed. If you have to choose between these, make a choice based on the subject and the department you are interested in. Don’t put too much emphasis on the university rankings. It changes each year. Here is a brief comparison of the two. Currently, McGill University world ranking is #44 (THE World University Ranking). While University of Toronto is ranked #18 by THE World University Ranking. Here is a brief comparison of these two. Parameters McGill University University of Toronto Tuition fees (undergraduate) 29,200 CAD (International students) 45,690 CAD (International students) Acceptance rate 48.9% 43% Popular courses Medical and Health Science, Computer Science, Social Science & Humanities Psychology, Medical Technology, Automation and Control, Human and Biological Sciences Average salary CAD 62k CAD 68k You can’t go wrong with either of these schools.

Which university is better for an undergraduate degree in fine arts with a biology minor, U of T, McGill, or Concordia University??

You should prefer University of Toronto or McGill. If you get accepted at both the university, choose one of these according to your preference. UofT has one of the best fine arts programs in the world. Their Biology minor program offers an introduction to Cell & Molecular Biology, Evolutionary Biology, Ecology, and Physiology. McGill’s Biology program is more research-oriented. You will get a chance to work and collaborate with some of the best and brightest researchers. UofT and McGill also rank higher than Concordia. UofT was ranked 18th in World University Rankings 2022 by Times Higher Education. McGill was ranked 44th by THE. Here is a brief comparison of UofT and McGill University. Parameters UofT McGill University Undergraduate tuition fees(International) 45,690 CAD 29,200 CAD Acceptance rate 43% 48.9% Average base salary for graduates CAD 68k CAD 62K The science programs of Concordia University aren’t as refined compared to UofT and McGill.

Does the University of Toronto require a GRE for a MS in computer science?

Short answer, yes. It won’t hurt your case unless the score is too bad but the Computer science department website of University of Toronto states that there is no requirement of GRE test score for the admission process. Submitting IELTS or TOEFL scores will suffice the process of admission for international students. The online application form does provide a field where you can submit your GRE scores, but it is made optional. However it is recommended to upload a GRE score as it will create an edge over other applicants. Target for a safe score of 320+ in GRE so that you leave no stone unturned to create a good impression. Tabulation below gives a brief overview on expected test scores of University of Toronto: When you are applying for such competitive programs, it's always wise to present yourself in the best way possible by keeping your best foot ahead. Submitting a GRE score along with a good GPA and resume will definitely enhance the chances of your selection.

Is University of Toronto considered the best at artificial intelligence in the world?

University of Toronto has always been in the list of top 10 institutes for artificial intelligence in the world. Forbes has ranked it 6th best University for AI and data science for 2021. Major areas of study: AI department at UofT gives priority to five major sub-areas: Computational linguistics and natural language processing Knowledge representation Cognitive Robotics Machine learning Computational vision If your aim is to pursue majors in any of the above areas then you can never go wrong with University of Toronto. Research aids: Being a research oriented Institute, University of Toronto has some popular research centers including CARTE, Vector institute, COHESA, SOSCIP, SAVI, CMTE. These centres help students in doing collaborative projects with lead AI companies globally. Master students can also work under research scholars which will give them enormous exposure. Professors and alumni: Geoffrey Hinton, popularly known as 'God father of AI' is a professor at University of Toronto who is even the chief scientist at Vector Institute. Alex Krizhevsky(Post doc student)- Google scholar Hugo Larochelle (post-doc; Lead of Google brain in Montreal) Ilya Sutskever (PhD student, working at Google brain) Ryan Adams (Post-Doc, working at Harvard) Artificial intelligence at University of Toronto definitely seems promising. When you can work/study under Geoffrey Hinton and his crew who are Titans in the AI field, it is an absolute win- win situation. But you are seeking the top University then Stanford, MIT and Carnegie Mellon University are definitely ahead of University of Toronto.

Will I get accepted into University of Toronto?

Securing admission at University of Toronto is really difficult. You will find it very competitive which is fair- it’s currently ranked at #29 among world universities by QS. The overall acceptance rate of the University is 43% but things are harder if you are an international student. There will be a lot of extra formalities like English proficiency, LORs, funding abilities that the university will consider. This is around 23.1% Factors to be considered: GPA requirements: For admission in undergraduate programs, an average score of 90 in class 12th can be considered competitive. Expected scores for some courses are mentioned below: In case of graduate program admission, the minimum GPA requirement is 3.0 while 3.4 out of 4.0 is considered as a competitive score. English language proficiency: TOEFL or IELTS scores are accepted and It is mandatory for international students to submit one of these test scores. TOEFL score: 93(iBT) IELTS score : 7.0 with no band below 6.0 GRE score: Few courses demand GRE test scores for the admission process whereas Courses like CS , material science have made it optional, however submitting a GRE with a score around 320+ will definitely create an edge to your profile which may enhance your chances of selection. GMAT: Minimum GMAT score of 570 is demanded for admission in MBA courses at University of Toronto while the average score of the University is 665. Other requirements: Minimum 3 letters of recommendations along with good resume and Participation in Co-Curricular activities are expected. If you fulfill all the above mentioned criteria including good grades, standard test scores and LORs you will be good to go. Ultimately it depends on the competition in the course which you are inclined towards.

What is your review of University of Toronto?

If you are planning to join a research based course, there is no better University than UofT. It’s a top ranked Canadaian institute and ranked 21st worldwide by QS World Ranking 2020, thus it is highly competitive with a 43% admit rate. Quick stats: Still, harder than getting into is staying there and maintaining your grades. If you ask for reasons enough to attend UofT; they will be: Value of their diploma Wide network of students, professors and alumni which they offer Social prestige, Credibility amongst employers Exposure to research One thing which makes UofT stand out amongst other universities in Canada is hands down their faculty. There are few opinions like " you being just a number", "UofT is a study hell" etc but as long as you are determined and have a good attitude towards your studies, success and exposure comes along your way. Remember that socializing is the key for you to fall in love with the University. Research exposure: Being one of the top research institutes, you will certainly get a high research exposure by working with research faculties and scholars. World class research laboratories with high end equipment are worth mentioning. Campus: St. George, Mississauga, and Scarborough are the three campuses of University of Toronto with a vibrant urban setting with a perfect environment to study. Campus housing facilities accommodate more than 8,800 students. There are 44 libraries across branches. It is third largest in North America. There are 1000+ diverse organizations and student clubs in the University. University has many Nobel laureates among its faculties and alumni Average salary of UofT graduate in MBA is 133,000 USD whereas science graduate is 93,000 USD University of Toronto is one of the top notch study oriented colleges. However many students struggle due to its high grading standard and endup transferring out or fail to get into their desired majors due to poor grades in 1st year.

What is the acceptance rate at the University of Toronto?

The acceptance rate of UofT is not the most welcoming which is obvious by the fact of it being a top ranked Institute. Once you get into UToronto, the actual struggle is to survive there. It has been ranked 29th by QS World University Ranking, 2020 University of Toronto is quite competitive to get into. Acceptance rate varies from program to program. Average acceptance rate of the University is 43% which comes down to 23.1% for International students. If you manage to score an average of 87-90 in your 6 major subjects and have a good resume, you will have a pretty high chance of getting here. Better the grade, higher is your chance of getting accepted. Ultimately it depends on the branch to which you seek your admission at, less the competition higher is the acceptance rate. However it must be mentioned that getting into the University is not a huge deal when compared to surviving after the first year and getting your desired majors. Statistics of accepted students: Engineering is the most desired field at University of Toronto among international students. Out of 50,041 UG applications 20,296 students were offered admission among which 4,019 were international students. The acceptance rate of graduate courses is around 39% Out of 1056 PhD applicants, 305 were given opportunity for enrollment with an overall acceptance rate of 30% It must be kept in mind that getting into University of Toronto is much easier than surviving there for a second year. The freshman retention rate of the University lies around 85-90%

How can I get scholarships or financial aid for the University of British Columbia and the University of Toronto?

It depends from where you are, as well as your previous background. If you are not a Canadian, you will only be eligible for some scholarships and not financial aid. Even then the competition will be too much and you’ll have to be too good with a unique background so that you become a prospective student with a lot of potential at UBC. There are different scholarships for different programs. All have varying criteria which you need to go through carefully. Female students in hard sciences have an added benefit in many scholarships specifically aimed to help them. Parameters Funding at University of British Columbia Funding at University of Toronto Total Funding Budget 30 Million CAD 247 Million CAD Average Scholarship Amount Merit-based: 25-30% Need-based: 65-70% 7,500 CAD to 20,000 CAD Official Website UBC scholarships UToronto’s website UBC Offers funds based on your academic and extracurriculars. You’d be automatically considered for any merit-based awards once admitted to UBC for up to 25-30% of total offered funding. UBC Need-based awards comprise 65-70% of total funding and depends on the student's financial need. UBC Hybrid scholarships are awarded based on a combination of merit (academics, leadership skills, etc.) and student’s financial requirements. These make up 10% of the UBC funding. University of Toronto University of Toronto’s budget for funding in 2019-2020 was 247M CAD If you're a great student with active extracurricular participation, you can be considered for scholarships ranging from 7,500 CAD to 20,000 CAD You can check out UToronto’s website for specifics. Credible academic references, exceptional marks and great personal achievements and records are a must for availing most of these merit-based scholarships. These merit-based scholarships/awards don't require any application as you’d be automatically considered. Finally, make sure you work hard and apply on time to be considered for these.

University of Toronto BA Economics Fees, Requirement, Application, Deadline 2026.

Toronto, OntarioLocation

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69976enrollment

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Bachelor of Arts [BA] (Economics)

4 years

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Field of Study:

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Economics

6.5 1 Review | Ranked #21 out of 700 by QS Global Ranking 2025

₹42.8 L/Yr

CA$63,570 /Yr

Collegedunia Team

Content Curator | Updated on - Apr 8, 2026

University of Toronto Bachelor of Arts Economics is a 4-year Honours degree program offered through the Faculty of Arts & Science at St. George campus and as a BCom specialist at Mississauga campus. The program is ranked 24th globally in Business and Economics by Times Higher Education 2025 and 1st in Canada. Economics at U of T is a limited enrollment (Type 2) program, requiring students to meet specific grade requirements after completing first-year prerequisites. International students pay CAD 63,570 annually (approximately 42.6 Lakhs INR), totaling CAD 254,280 (approximately 1.71 Crores INR) for the complete 4-year degree.

For international students, the total cost of study including tuition, living expenses, books, and health insurance ranges from CAD 330,000 to CAD 380,000 (approximately 2.21 - 2.55 Crores INR) over four years. Within two years of graduation, 84% of Economics graduates are employed with a median salary of CAD 60,200 annually (approximately 40.4 Lakhs INR). The program emphasizes quantitative analysis, economic theory, and practical applications through optional co-op placements and research opportunities.

Current Admission Status:

Application Deadline: January 15, 2026 (CLOSED for Fall 2026 entry)
Document Deadline: February 2, 2026 (for applications submitted by January 15, 2026)
Next Application Period: September 2026 (for Fall 2027 entry)
Application Portal: Ontario Universities' Application Centre (OUAC)
Guaranteed Residence: International students admitted by January 15 deadline receive guaranteed on-campus housing

Table of Contents

Why Study Economics at University of Toronto
University of Toronto Bachelor of Arts Economics Fees 2026
Cost of Living in Toronto for International Economics Students
Accommodation Options for International Economics Students
Admission Requirements & Process
English Language Proficiency Requirements for University of Toronto Economics
University of Toronto Economics Program Rankings 2026
Scholarships for International Students at University of Toronto Economics
Career Outcomes & Employment for Economics Graduates
Return on Investment for University of Toronto Economics (International Students)
Frequently Asked Questions

Why Study Economics at University of Toronto

1st Ranked in Canada: Consistently ranked 1st in Canada and 24th globally (THE 2025) for Business and Economics, with faculty expertise in microeconomics, macroeconomics, econometrics, and applied economics.
Quantitative Focus: Strong emphasis on mathematical and statistical methods; graduates develop advanced analytical skills highly valued in finance, consulting, and policy sectors.
Limited Enrollment Program: Selective admission after first year ensures cohort quality and personalized attention; students must maintain minimum grades in prerequisite courses to enroll.
Co-op Opportunities: Optional work-integrated learning at Mississauga campus allows students to gain paid work experience (typically CAD 18,000 - 25,000 per work term, approximately 12 - 16.7 Lakhs INR).
Strong Graduate Outcomes: 84% employment rate within 2 years; median salary CAD 60,200 annually (approximately 40.4 Lakhs INR); graduates work in finance, consulting, government, and international organizations.
Research Opportunities: Undergraduate students can participate in faculty research projects and complete capstone research papers on applied microeconomic topics.

University of Toronto Bachelor of Arts Economics Fees 2026

International undergraduate students at University of Toronto pay significantly higher tuition than domestic students. Economics is classified as a Social Sciences program in the Faculty of Arts & Science, with standardized international fees.

All INR conversions based on exchange rate of CAD 1 = INR 67.10 as of April 8, 2026. Exchange rates are subject to change.

Fee Component	Annual Amount (CAD)	Annual Amount (INR)	4-Year Total (CAD)	4-Year Total (INR)
Program Fee (Full-Time, 4.0+ credits)	63,570	42.6 Lakhs	254,280	1.71 Crores
Mandatory Incidental Fees	2,041	1.37 Lakhs	8,164	5.48 Lakhs
System Access Fee	61	4,090 INR	244	16,360 INR
University Health Insurance (UHIP)	792	53,100 INR	3,168	2.12 Lakhs
Total Annual Fees	66,464	44.6 Lakhs	265,856	1.78 Crores

Additional First-Year Costs:

Item	Amount (CAD)	Amount (INR)
Books and Course Materials	1,500 - 2,000	1 - 1.3 Lakhs
Laptop (one-time)	1,000 - 1,500	67,100 - 1 Lakh
Total First-Year Additional Costs	2,500 - 3,500	1.7 - 2.3 Lakhs

Key Fee Insights:

Program Fee Structure: All international students initially charged a full program fee regardless of course load; students taking 3.5 credits or fewer can request conversion to per-course fees starting mid-July.
Health Insurance (UHIP): Mandatory for all international students; covers basic medical, dental, and vision care; approximately CAD 792 annually (approximately 53,100 INR).
Incidental Fees: Include Hart House, Athletics, Health Services, U of T Students' Union, and Student Services Fee; approximately CAD 2,041 annually (approximately 1.37 Lakhs INR).
Payment Schedule: Fees billed in two terms (Fall-Winter session); payment typically due before start of academic year; monthly service charges apply to unpaid balances.
4-Year Total Cost: Approximately CAD 270,000 - 280,000 (approximately 1.81 - 1.88 Crores INR) including tuition, fees, books, and equipment.

Cost of Living in Toronto for International Economics Students

Toronto is Canada's largest city and a major financial hub. Economics students typically live near the St. George campus in downtown Toronto. Living costs vary significantly based on accommodation type and lifestyle.

Estimated Annual Living Expenses (Single Student):

Expense Category	Amount (CAD)	Amount (INR)
Housing (on-campus or private)	10,000 - 18,000	6.7 - 12.1 Lakhs
Food & Groceries	3,500 - 4,500	2.3 - 3 Lakhs
Public Transportation (TTC Pass)	1,200 - 1,500	80,500 - 1 Lakh
Books & Course Materials	1,500 - 2,000	1 - 1.3 Lakhs
Personal Expenses & Clothing	1,500 - 2,000	1 - 1.3 Lakhs
Phone & Internet	600 - 800	40,300 - 53,700 INR
Entertainment & Social	1,000 - 1,500	67,100 - 1 Lakh
Total Annual (Minimum)	19,300	12.9 Lakhs
Total Annual (Comfortable)	30,800	20.7 Lakhs

Note: These costs are based on downtown Toronto residency. Costs vary by individual spending habits, accommodation type, and neighborhood choice.

Accommodation Options for International Economics Students

Toronto offers both on-campus and off-campus housing options. Most international students prefer on-campus residence for their first year due to community integration and proximity to campus. Off-campus housing becomes more common in upper years.

On-Campus Housing Options

Residence Type	Monthly Cost (CAD)	Annual Cost (CAD)	Features
First-Year Residence (St. George)	850 - 1,200	10,200 - 14,400	Guaranteed for international students, meal plan available, community events
Upper-Year Residence (St. George)	900 - 1,400	10,800 - 16,800	More independence, some with kitchens, on-campus location
Graduate/Upper-Year Housing	1,000 - 1,500	12,000 - 18,000	Shared facilities, community-focused

Off-Campus Housing Options

Housing Type	Monthly Cost (CAD)	Annual Cost (CAD)	Location Notes
Shared Apartment (2-3 roommates)	700 - 1,000	8,400 - 12,000	Annex, Little Italy, Chinatown, near campus
1-Bedroom Apartment	1,200 - 1,600	14,400 - 19,200	Downtown, near transit, walkable to campus
Condo/House Rental	1,400 - 2,000	16,800 - 24,000	Premium neighborhoods, more space
Student Housing Companies	900 - 1,300	10,800 - 15,600	Purpose-built, furnished, utilities included

Housing Notes:

On-campus housing costs are NOT included in tuition fees; they are separate expenses.
International students admitted by January 15 deadline receive guaranteed first-year residence placement.
Off-campus housing is typically cheaper and preferred by upper-year students for independence.
Popular neighborhoods for students: Annex (closest to St. George campus), Little Italy, Chinatown, King West, Queen West.
Housing search platforms: Kijiji, Craigslist Toronto, Zolo.ca, RentSeeker.ca, TorontoRentals.com, Facebook Housing Groups.

Part-Time Work Opportunities for International Economics Students

International students on valid study permits can work up to 20 hours per week during academic sessions and full-time during scheduled breaks. Ontario's minimum wage is CAD 17.60 per hour (as of April 2026).

Common Part-Time Jobs for Economics Students (Hourly Rates in CAD):

Research Assistant (Faculty/Lab): CAD 18.00 - 25.00/hour (on-campus, flexible scheduling, relevant experience)
Tutoring/Academic Support: CAD 20.00 - 35.00/hour (especially for economics, mathematics, or statistics)
Data Analysis Intern: CAD 19.00 - 26.00/hour (part-time, economics-related)
Retail/Customer Service: CAD 17.60 - 19.00/hour (minimum wage + tips/commission)
Teaching Assistant (Economics Courses): CAD 18.00 - 22.00/hour (available after first year)

Part-Time Work Insights:

Most Economics students limit part-time work to 10-15 hours/week due to coursework intensity.
Part-time work during studies typically generates CAD 1,500 - 2,500 monthly (approximately 1 - 1.7 Lakhs INR) at 10-15 hours/week.
Research assistant positions offer valuable experience and networking opportunities with faculty.
Data analysis roles provide direct application of Economics coursework and career networking.
Many students work during summer breaks (8-12 weeks) earning CAD 4,000 - 7,000 (approximately 2.7 - 4.7 Lakhs INR).

Admission Requirements & Process

University of Toronto Economics program admits students through the Ontario Universities' Application Centre (OUAC). Admission to the Economics major is competitive and requires meeting specific grade requirements after completing first-year prerequisites.

Application Deadlines & Intake Dates (2026-2027)

Milestone	Date	Notes
OUAC Application Opens	Late September 2026	For Fall 2027 entry
Application Deadline	January 15, 2027	For Fall 2027 entry
Document Deadline	February 2, 2027	For applications submitted by January 15
Extended Document Deadline	February 16, 2027	For applications submitted between January 16-31
Admission Decisions	March - April 2027	Rolling basis after document deadline
Residence Guarantee Deadline	January 15, 2027	International students guaranteed housing if admitted by this date
Program Start	September 2027	Fall semester begins

Note: International students should apply as early as possible (September-October) to maximize chances of admission and secure guaranteed on-campus housing.

Eligibility Criteria

Academic Requirements:

High school diploma or equivalent (e.g., IB, A-Levels, Indian 12th standard).
Minimum 70% in Grade 12 English (or equivalent).
Competitive average in final year: mid-to-high 80s for Social Sciences stream (Economics).
Required subjects: English, Calculus & Vectors (or Advanced Functions).
Mathematics strongly recommended.

First-Year Prerequisites for Economics Major:

ECO101H1 (Microeconomics) - minimum grade requirement
ECO102H1 (Macroeconomics) - minimum grade requirement
MAT135H1 or MAT137H1 (Calculus) - minimum grade requirement
Students must complete 4.0 credits and meet grade requirements to enroll in Economics major (limited enrollment program).

English Language Proficiency (Mandatory for non-English medium schools):

IELTS (Academic): Minimum 6.5 overall with no band below 6.0.
TOEFL iBT: Minimum 89 overall with minimum 22 in Writing section.
Exemption: Completed high school in English-medium institution.

Standardized Test Scores:

No SAT/ACT required for Canadian high school graduates.
International Baccalaureate (IB), A-Levels, or equivalent qualifications accepted.
Indian students: 12th standard marks from CBSE/ICSE/State Board accepted; competitive average typically 85%+.

Admission Process

Step 1: Create OUAC account and submit online application with high school transcripts and English language test scores (if required).
Step 2: Receive supplementary application form (if required) via email; complete and submit within specified deadline.
Step 3: Admissions Committee reviews application holistically; decisions released via OUAC portal.
Step 4: Upon admission, submit official transcripts and confirm enrollment with non-refundable deposit (typically CAD 500-1,000).
Step 5: Apply for Canadian study permit and arrange housing (guaranteed on-campus if admitted by January 15).

English Language Proficiency Requirements for University of Toronto Economics

University of Toronto requires proof of English proficiency for all applicants whose high school education was not conducted in English. This ensures students can succeed in an English-taught program and Canadian academic environment.

Accepted English Proficiency Tests:

IELTS (Academic): Minimum 6.5 overall with no band below 6.0 (Listening, Reading, Writing, Speaking).
TOEFL iBT: Minimum 89 overall with minimum 22 in Writing section.
Duolingo English Test: Minimum 120 overall (accepted as alternative).

Waivers Available:

Completed high school in English-medium institution (medium of instruction and examinations in English).
Completed International Baccalaureate (IB) or A-Levels in English.
Canadian citizens or permanent residents.

Timeline:

Test results must be submitted before application deadline (January 15, 2027).
IELTS results sent electronically by testing agency; TOEFL scores sent directly to U of T (institution code: 0982).
Exam preparation typically requires 6-8 weeks; plan accordingly before application deadlines.

Key Insight:

IELTS is more commonly taken by Indian students; TOEFL is also widely accepted.
No exemptions available for Indian students unless high school was English-medium (most Indian schools qualify as English-medium).
Test results valid for 24 months from test date.

University of Toronto Economics Program Rankings 2026

Economics at University of Toronto is consistently ranked among the top programs globally and the best in Canada. Rankings vary by methodology but consistently place U of T Economics in the top 30 globally.

Ranking Organization	Global Rank	Canada Rank	Year
Times Higher Education (Business & Economics)	24	1	2025
QS World University Rankings (Overall)	29	1	2026
Times Higher Education (Overall University)	21	1	2026

Ranking Notes:

U of T Economics is ranked 1st in Canada across all major ranking systems.
Global ranking of 24th (THE 2025) reflects strong reputation in research, faculty expertise, and international recognition.
University of Toronto overall ranks 21st globally (THE 2026) and 1st in Canada, strengthening Economics program credibility.
Rankings based on research output, faculty reputation, international diversity, and graduate employment outcomes.

Scholarships for International Students at University of Toronto Economics

University of Toronto offers several scholarships and awards for international undergraduate students, though funding is competitive and limited. The most prestigious is the Lester B. Pearson International Scholarship.

Scholarship Name	Amount (CAD)	Eligibility	Application Deadline
Lester B. Pearson International Scholarship	Full Tuition + Living Allowance (4 years)	Exceptional academic achievement, leadership, extracurricular activities	Automatic consideration with application
International Scholar Award	Varies (typically 25-75% tuition)	Merit-based, strong academic record	Automatic consideration with application
Faculty of Arts & Science Awards	1,000 - 5,000	Merit-based, demonstrated financial need	Varies by award
In-Program Scholarships	500 - 3,000	Academic excellence in upper years	Rolling basis
Economics-Specific Awards	1,000 - 2,500	Economics major students, merit-based	Rolling basis

Key Scholarship Insights:

Lester B. Pearson Scholarship: Highly competitive; covers full tuition, books, incidental fees, and living allowance for 4 years. Approximately 50-100 awarded globally annually. Automatic consideration; no separate application required.
International Scholar Award: Merit-based; typically covers 25-75% of tuition for international students with strong academic records (85%+ average). Automatic consideration upon admission.
No Separate Application: Most scholarships are merit-based; automatic consideration upon application review. No additional application forms required.
External Funding: International students can explore country-specific scholarships through government agencies, NGOs, and private lenders (e.g., MPower Financing, Prodigy Finance).
Application Timing: Apply early (September-October) for maximum scholarship consideration; later applications have fewer awards available.

Career Outcomes & Employment for Economics Graduates

University of Toronto Economics graduates pursue diverse careers in finance, consulting, government, international organizations, and business sectors. The program has strong track record of graduate success.

Employment Statistics:

Employment rate (2 years post-graduation): 84%
Median salary (2 years post-graduation): CAD 60,200 annually (approximately 40.4 Lakhs INR)
69% of graduates work in economics-related fields
Average time to secure employment: 3-6 months post-graduation

Common Career Paths for U of T Economics Graduates:

Career Path	Typical Roles	Employer Types
Finance & Banking	Financial Analyst, Investment Banker, Risk Analyst	Banks, Investment Firms, Insurance Companies
Consulting	Management Consultant, Business Analyst, Strategy Consultant	Consulting Firms, Corporations
Government & Policy	Policy Analyst, Economist, Government Analyst	Government Agencies, Central Banks, International Organizations
International Organizations	Economist, Development Specialist, Research Analyst	World Bank, IMF, UN Agencies, OECD
Business & Corporate	Business Analyst, Market Researcher, Data Analyst	Corporations, Tech Companies, Startups
Academia & Research	Research Assistant, Graduate Student, Academic Researcher	Universities, Research Institutes

Graduate Studies Pathways:

Master's in Economics (typically 2 years)
MBA (business-focused, 1-2 years)
Master's in Finance (specialized, 1-2 years)
PhD in Economics (research-focused, 4-6 years)

Return on Investment for University of Toronto Economics (International Students)

For international students, the Economics degree represents a moderate financial investment with strong long-term career returns. The program's reputation and graduate employment outcomes provide solid ROI.

ROI Context:

Total 4-year program cost: CAD 300,000 - 350,000 (approximately 2.01 - 2.35 Crores INR) including tuition, fees, books, and living expenses.
Entry-level salary (post-graduation): CAD 45,000 - 55,000 (approximately 30.2 - 36.9 Lakhs INR) annually.
Median salary (2 years post-graduation): CAD 60,200 (approximately 40.4 Lakhs INR) annually.
Salary with Master's degree: CAD 73,867 (approximately 49.5 Lakhs INR) annually.

Financial Metric	Amount (CAD)	Amount (INR)
Total Program Cost (4 years)	325,000	2.18 Crores
Entry-Level Salary (Annual)	50,000	33.5 Lakhs
Median Salary (2 years post-grad)	60,200	40.4 Lakhs
Annual Salary Increase (Post-Grad)	10,200	6.8 Lakhs
Break-Even Period (Years)	6.4	6.4
10-Year Total Earnings (Post-Grad)	601,000	4.03 Crores
10-Year ROI	85%	85%

Key ROI Insights:

Break-Even in 6-7 Years: Entry-level salary requires approximately 6-7 years to recover total program cost; however, salary growth and career advancement accelerate ROI.
Master's Degree Advantage: Pursuing a Master's degree (typically 2 years) increases salary by CAD 13,667 annually (approximately 9.2 Lakhs INR), significantly accelerating ROI.
Career Progression: Economics graduates typically see 5-8% annual salary growth with experience and specialization, leading to strong lifetime earnings.
International Career Mobility: U of T Economics degree enables career opportunities in Canada, US, UK, Australia, and international organizations, potentially increasing earning potential.
Long-Term Wealth Building: Over 30-year career, Economics graduates earn CAD 2 - 3 million+ (approximately 1.34 - 2.01 Crores INR), representing solid lifetime ROI.

University of Toronto Bachelor of Arts Economics offers international students a world-class education combining rigorous economic theory, quantitative analysis, and practical applications. Ranked 1st in Canada and 24th globally, the program provides strong foundation for careers in finance, consulting, government, and international organizations. While the total cost of study (approximately 2.01 - 2.35 Crores INR) is substantial, the program's reputation, graduate employment outcomes (84% within 2 years), and median salary (CAD 60,200 annually) provide solid ROI. For international students committed to economics and seeking advanced education in a top-ranked institution, U of T Economics represents a strategic investment with lasting career benefits.

Frequently Asked Questions

Ques: Is Economics a limited enrollment program at University of Toronto, and how do I get admitted?

Ans: Yes, Economics is a Type 2 limited enrollment program at U of T. You do not apply directly to Economics as a first-year student. Instead, you apply to the Faculty of Arts & Science in the Social Sciences stream. After completing first-year prerequisites (ECO101H1, ECO102H1, MAT135H1 or MAT137H1) with minimum required grades and earning 4.0 credits, you can apply to enroll in the Economics major. Admission is competitive; students must maintain strong grades in prerequisite courses. Approximately 60-70% of eligible first-year students are admitted to the Economics major, depending on available spaces and grade cutoffs.

Ques: What is the total cost of studying Economics at University of Toronto for international students?

Ans: The total 4-year cost for international students is approximately CAD 300,000 - 350,000 (approximately 2.01 - 2.35 Crores INR). This includes: tuition (CAD 254,280), incidental fees (CAD 8,164), health insurance (CAD 3,168), books and equipment (CAD 6,000 - 8,000), and living expenses (CAD 77,200 - 123,200). Additional costs include optional co-op program fees (if applicable) and personal expenses. Within 2 years of graduation, 84% of Economics graduates are employed with a median salary of CAD 60,200 annually (approximately 40.4 Lakhs INR), enabling cost recovery within 6-7 years.

Ques: What career opportunities are available for U of T Economics graduates?

Ans: U of T Economics graduates pursue diverse careers in finance, consulting, government, international organizations, and business sectors. Common roles include: Financial Analyst (banks, investment firms), Management Consultant (consulting firms), Policy Analyst (government agencies), Economist (central banks, international organizations), Business Analyst (corporations, tech companies), and Research Analyst (universities, research institutes). Within 2 years of graduation, 84% are employed with median salary CAD 60,200 annually (approximately 40.4 Lakhs INR). Many graduates pursue Master's degrees in Economics, Finance, or MBA, increasing earning potential to CAD 73,867+ annually (approximately 49.5 Lakhs INR). The program's quantitative focus and strong reputation enable career opportunities in Canada, US, UK, Australia, and international organizations.

Year	1st Year Fees
Tuition Fees	₹4278261 (CAD 63570)

Other Expenses

Head	Avg Cost Per Year
Housing	₹546678 (CAD 8123)
Food	₹444853 (CAD 6610)

Previous Year Tuition Fees

Year	1st Year Fees
2024	₹4153756 (CAD 61720)

Important Dates

Event	Application Date
Application Deadline For 2026 Intake	~~Jan 15, 2026~~
Deadline To Submit Supporting Documents for 2026 Intake	~~Feb 7, 2026~~

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My journey in University of Toronto.

Easy to get a work permit post-graduation compared to the US and is the best in the country.

academic: 8/10

faculty: 7/10

infrastructure: 8/10

accomodation: 9/10

placement: 7/10

0 0

Scores Required

89 / 120

Avg. Score in

TOEFL

6.5 / 9

Avg. Score in

IELTS

65 / 90

Avg. Score in

PTE

120 / 160

Avg. Score in

Duolingo

192

Application Fees

Ranking

2026202520242023202220212020201920182017

Arts 14 out of 553 in Global Ranking

( #1 out of 20 in Canada 2026)

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TOP Scholarships

Scholarship name	Award amount	Eligibility
International Merit Admission Award	$20,000	Merit Based
University of Toronto International Scholar Award	$40,000	Merit Based

Key Resources for Your Study Abroad Journey

Course Guides

Bachelor of Arts in Canada: Top Universities, Cost for Indian Students, and Scope

Top Undergraduate Courses in Canada: Fees 2024, Top Colleges, Admissions, Placements & Salaries

Comments

Found 9 Comments

annas

Aug 8, 2023 10:12

Hello, when and where can i apply for the Undergraduate Certificate (Business Analytics) at uft?

Sinbad Chongtham

Aug 18, 2023 20:51

Application for undegraduate programs offered at the University of Toronto must be submitted through the Ontario Universities’ Application Centre. You can find the link of this centre under the Undergraduate Admission section at the University of Toronto Admission.

sweth

Apr 8, 2023 13:09

Hello, I'm from India. I have a doubt regarding the Program Cloud Computing (Certificate) offered by the University of Toronto. Will this certificate count toward my PGWP? Can I apply for PGWP for taking this course?

Sinbad Chongtham

Apr 10, 2023 15:52

If you have graduated from a designated learning institution in Canada, you may be eligible to apply for PGWP. However, graduating from a designated learning institution does not automatically make you eligible to appy for PGWP. You will be able to apply for PGWP after completing the one-year Certificate in Cloud Computing program of this university.

ronikar khadka

Apr 7, 2023 19:27

Hello i am from nepal and want to study masters in child counselling. i have completed bacheolars in social work (4 years course). what are the qualification required to apply for the course. Do i need to do any extra course to bridge?

Sinbad Chongtham

Apr 10, 2023 16:57

The University of Toronto does not offer Master in Child Counseling. But the university offers MA Child Study and Education, MA Counselling and Clinical Psychology, M.Ed Counselling and Psychotherapy, M.Ed Global Mental Health and Counselling Psychology, M.Ed Guidance and Counselling, MA School and Clinical Child Psychology. To apply for these programs, you must have a bachelor’s degree in Psychology.

Scholarship Grants & Financial Aids

Name	Scholarship Per Student	Level of Study	Type
U of T Karta Scholars Program	Scholarship per studentVariable Amount	Level Of StudyBachelor	TypeCollege-Specific	View Details
Axol Science Scholarship	Scholarship per student₹ 1.3 L/Yr$2,000	Level Of StudyBachelor	TypeCompany-Sponsored	View Details
Business Administration Scholarships	Scholarship per studentVariable Amount	Level Of StudyBachelor	TypeMerit-Based	View Details
University of Montreal Scholarships	Scholarship per studentVariable Amount	Level Of StudyBachelor	TypeCollege-Specific	View Details
VueVille Future Technology Scholarship	Scholarship per student₹ 67,300/Yr$1,000	Level Of StudyBachelor	TypeMerit-Based	View Details
Go Clean Scholarship	Scholarship per student₹ 2.4 L/Yr$3,500	Level Of StudyBachelor	TypeMerit-Based	View Details

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