[Introductions] When applying for college/university, many high school students may think "economics" is a branch of business, but they are wrong. Economics is about how humans can use limited resources efficiently for production and distribution in order to meet human needs. Students learn about various economic activities, economic laws and economic theories, which are usually divided into "macroeconomics" and "microeconomics." For example, the study economics will cover the impact of economic phenomena such as supply and demand, inflation, foreign exchange rates and bank interest rates on the economy, which are more theoretical areas.

Introduction to the Canadian Economics major

To understand and learn to solve complex economic problems requires strong analytical skills. Most people think that economics is the study of economy-related issues, but it is not. Economics is essentially a way of thinking. This way of thinking has been used to discover patterns and solve problems. There is economics where people live. At the same time, some people believe that economics is a research theory, a liberal art, and does not require much mathematical skill. In fact, modern economics and mathematics are very closely combined. If you want to study economics well, you must do well in mathematics.

What knowledge and skills do students learn in Canadian economics majors?

Microeconomics: Mainly studies the economic behaviour of a single economic unit, namely individuals and firms, including supply and demand price balance theories, consumer behaviour, manufacturer cost and output analysis, price determination theories, manufacturer's cost and output, price determination theory, and distributive theory.

Macroeconomics: Looking at the entire national economy as a whole, it examines the overall decisions and fluctuations of national income and prices. Among them, growth theory and fluctuation (cycle) theory are two independent branches of macroeconomics.

Labour Economics: With the development of interaction of workers and employers, labour economics is developed mainly to study the labour market. The supplier of labour services is the employee, and the demander of labour services is the employer. The labour market functions through the interaction of workers and employers.

Employment prospects and income of Canadian economics graduates

Market Analyst: This position is available in various industries, but generally only in multinational companies, large and medium-sized enterprises, economic decision makers in the government, and public research institutions. They are mainly responsible for the collection and analysis of market data. The average salary of a market analyst is $65,000 per year or $33.33 per hour. The starting salary for entry-level positions is $23,400 CAD per year, while the starting salary for most experienced workers is $110,500 CAD per year.

Marketing: For technology industries, such as telecommunications and software companies, the demand for sales will continue to rise. Even in non-technical fields, sales positions have always been one of the most demanding job categories in the market, and this position does require many qualifications. The average marketing salary in Canada is $52,000 per year or $26.67 per hour. The starting salary for entry-level positions is $29,000 per year, while most experienced workers earn up to $88,400 per year.

Stock Broker: They must have solid financial fund knowledge and investment experience based on long-term observation of the market. Because securities investment is a high-risk, high-yield investment, securities brokers must gradually accumulate and have a considerable amount of investment experience and skilled business skills through the study of market trends, be aware of the patterns, and combine the analysis of various factors that affect the prices. The average securities broker salary in Canada is $60,225 per year or $30.88 per hour. The starting salary for entry-level positions is $34,125 per year, while most experienced securities brokers earn around $102,383 per year.

At present, statistics majors are generally better developed in countries abroad, and related jobs are more highly paid.

List of majors related to Mathematics & Statistics in Ontario, Canada (undergraduate degree of 4+ years)


Name of Program School Type of Credential Open to International Students Start Date
Commerce University of Toronto-Rotman Bachelor Degree Open September
Co-op Management(including Economics) University of Toronto-Scarborough Bachelor Degree Open September
Commerce University of Toronto-Mississauga Bachelor Degree Open September
Business Economics York University Bachelor Degree Open September
Economics University of Ottawa Bachelor Degree Open September
Economics University of Windsor Bachelor Degree Open September
Economics Carleton University Bachelor Degree Open September
Economics Laurentian University Bachelor Degree Open September
Economics Algoma University Bachelor Degree Open September
Economics-Economics & Business Trent University Bachelor Degree Open September

Summary: Our views on the economics major from the education consultants at UtoCanada

Many people feel that everything in economics is more general and conceptual, and that there are indeed few matching job positions after graduation. Economics is a research discipline, and its purpose is to study and confirm the theory of social laws. Professional development is required in pure economics disciplines, usually in enterprises, followed by government agencies. The main responsibilities of this type of profession are to provide cost-benefit reports, policy analysis, feasibility analysis, strategic analysis, etc., and priority will be given to those with a master's degree and above.

If you are studying for an undergraduate degree in economics, it is recommended that you combine your Economics major with a major in another subject in order to obtaina double major degree.First of all, if combined with business studies, potential career directions include front and middle office jobs at banks (such as investment adviser, loan officer, loan analyst, etc.) If combined with a major in mathematics or computer science, you may get a job in the middle and back office of a bank. Possible positions include risk control, product analysis, quantitative analysis, etc. if combined with a major in international relations, you can engage in international relations management or other work in government agencies. Of course, a point worth noting is that economics can also be combined with some engineering majors, for example: geography, environmental science, etc., because most engineering companies or environmental companies have a department that specializes in optimization management calculations. Combining the knowledge in the optimization model of economics with a background in science and engineering makes a very competitive candidate in the job market nowadays, and there will also be plenty of room for development.

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