Master’s in Economics in Canada
Master’s in Economics in Canada
With a Master’s in Economics in Canada, students are exposed to an upper-level education from one of the top universities in the country. International students who are interested in understanding the inner-financial workings of countries, governments, corporations and other important institutions may choose to delve into the world of economics. The field of economics, however, goes far beyond just that and covers a wide variety of topics. This makes getting a Master’s degree in Economics a popular choice for students in Canada and across the world.
What is a Master’s Program in Economics?
Economics is a broad field of study, which can be broken up into several subcategories, including microeconomics and macroeconomics. Microeconomics focuses on trends of individual consumers, how they make choices based upon their personal finances and how those decisions can affect a larger group of people. Macroeconomics, on the other hand, looks at the bigger picture when it comes to spending by concentrating on inflation, rate of growth and national trading. Economics also involves the study of the stock market, historical trends, recessions, wealth and banking, all of which are crucial to the health and stability of the country and of the world.
A Master’s degree in Economics allows professionals to get an in-depth look at how global, regional and local economies work together and how to evaluate a continually developing financial market. Students enrolled in a Master’s of Economics program will not only learn various theories of finance, but they will gain an understanding of how those theories can help to analyse current financial trends in real-life situations. Students enrolled in a Master’s program in Economics can expect to learn the following:
- Microeconomic and Macroeconomic theories
- Applied statistics
- Finance accounting
- International business
- Analytical problem solving
Students will also learn essential quantitative analysis and communication skills that they can use in their area of practice, as well as their lives in general. Professionals that emerge with a post-graduate degree in the field of economics will be able to analyse, explain and understand how to act on the knowledge that they gain from interpreting various economic models.
What Are the Benefits of Getting a Master’s in Economics?
People who receive a postgraduate degree in economics can expect to find a higher-paying and more prestigious position in the industry in which they choose to focus. It is important to keep in mind that salaries will vary depending on what country and region the position is in, as well as what specialty the student choose to focus on. Nevertheless, Master’s degree holders generally receive a significant pay raise once their program is completed.
Another benefit of enrolling in a Master’s program is that students can use the degree as a stepping stone in order to gain entrance into a more prestigious Doctorate program. This opens up even more career options for students who wish to explore this educational route.
For some working professionals, it may seem difficult to return to school and navigate through an upper-level program. Yet, many top Canadian schools offer flexible schedules, online courses and even tuition assistance in order to help people achieve their dreams of becoming Master’s graduates.
What Kind of Career Can You Expect with a Master’s in Economics?
People who graduate with a Master’s in Economics can choose to concentrate on the field of economics itself by obtaining a position collecting data, predicting trends and evaluating the stock market. Careers in banking, financial managing, investing or stock market trading can be obtained through this route.
The career opportunities do not end there, however. Upper-degree graduates also have the option to combine their knowledge of economics with another field of interest, such as politics, health care, human resources, environmental studies, statistics or even corporate retail.
Many companies, from small growing businesses to major corporations, employ economic scholars to evaluate spending trends, profits and costs. Companies also hire professionals, who understand how to analyse the customer base, to track consumer turnover and retention. Economists can help to identify areas where business executives can improve their financial flow, and also update their marketing strategies so that they can attract and hold onto more customers.
There are countless career options and job opportunities in the field of economics, making it one of the most sought after degrees in Canada and across the nation.