Economics Degree

Professor giving a lecture

From piggybanks to the World Bank, explore what makes economies tick

Get ready to wrestle with important and complex questions: How do you turn a poor country into a rich country? How can we avoid another global financial crisis? What’s the best way for governments to stimulate new industries like biotechnology and green energy?

In first year, you’ll cover the fundamentals of micro- and macro-economics. In upper years, you can analyze how those principles play out in a wide range of sectors, including public policy, labour economics, health economics, finance, sport, and more.

Whether you’re aiming to work in the public sector, the private sector, or academia, your Economics degree from Waterloo will give you the skills and knowledge you need, along with co-op experience to back you up.

What courses will you take in Economics?

First-year courses

As an Arts student, you’ll choose your major at the end of first year. You’re encouraged to explore a second major in first year to discover potential new interests.

You will also take an Arts First course in either the fall or winter term of your first year. In this course, instead of going to a lecture hall, you and your classmates will work together to respond to an intriguing challenge. With only 25 students in this course, you might address topics such as The Science of Happiness, Are We Erasing History?, Games and Culture, and Writing About Poems and Songs.

You can choose to study Economics through Honours Arts or Honours Arts and Business.

Honours Arts

September to December

  • ECON 101 – Introduction to Microeconomics
  • Arts First requirement or elective
  • Prospective major #2
  • Two electives

January to April

  • ECON 102 – Introduction to Macroeconomics
  • Arts First requirement or elective
  • Prospective major #2
  • Two electives

This is a sample schedule. Courses or when a course is offered may change depending on availability.

Honours Arts and Business

September to December

  • ARBUS 101 – Introduction to Business in North America
  • ECON 101 – Introduction to Microeconomics
  • Arts First Requirement or elective
  • Prospective major #2
  • Elective

January to April

  • ARBUS 102 – Accounting Information for Managers
  • ARBUS 202 – Professional and Business Ethics
  • Arts First Requirement or elective
  • Prospective major #2
  • Elective

This is a sample schedule. Courses or when a course is offered may change depending on availability.

After first year

40% of the classes you’ll take will be Economics courses. With your remaining classes, you can choose electives from many of the 100 subject areas at Waterloo.

Choose from courses that span social sciences, international economic development, public policy, and political science.

Sample upper-year courses

ECON 206 – Money and Banking I
ECON 290 – Models of Choice in Competitive Markets
ECON 332 – International Finance
ECON 409 – Workers, Jobs, and Wages

Customize your degree

You can add additional areas of expertise to your major by including one or more of the areas of focus in Economics.

  • Financial Economics
  • Public Policy
  • Econometrics

Popular areas of focus for Economics students include Financial Economics and Human Resource Management, two of the many minors available to all Waterloo students.

Faculty:
Faculty of Arts

Degree:
Bachelor of Arts in Economics

Available as a co-op program?
Yes

Available as a regular program?
Yes

Available as a minor?
No

Academic and social support. Whether it’s the mentorship program, a professor-student social, or a games night, Waterloo’s Economics Society organizes supportive social and academic events.

Build an awesome résumé. Choose the co-op program and graduate with 20 months of relevant experience on top of your academic learning.

Co-op = relevant paid work experience

Waterloo's co-op program, the largest in North America, is an amazing way to explore potential careers, learn to interview for jobs, graduate with up to two years of valuable experience — and make money!

Sample co-op job titles

  • Information technology/finance support
  • Economist/statistician
  • Assistant internal auditor
  • SAP merchandising/change management
  • Project control officer
  • Associate business analyst
  • Sales operations coordinator

Co-op work-study sequence

Starting in second year, you'll normally alternate between school and work every four months, integrating your classroom learning with real-world experience. You can return to the same employer for a couple of work terms to gain greater knowledge and responsibility or work for different employers to get a broad range of experience.

The study/co-op sequence is the same whether you study Economics through Honours Arts or Honours Arts and Business.

Year September to December (Fall) January to April (Winter) May to August (Spring)
First Study Study Off
Second Study Co-op Study
Third Co-op Study Co-op
Fourth Study Co-op Co-op
Fifth Study Study -

Your first work term will be halfway through second year (January to April 2027).

Learn more about co-op →

What can you do with an economics degree?

Graduates commonly pursue careers in government, finance, investment, and consulting. They often work in government agencies, financial companies, consulting firms, and more. Here are some sample career paths.


Financial Analyst
   - Role: Financial analysts assess the performance of stocks, bonds, and other types of investments. They help businesses and individuals make investment decisions by analyzing financial data, market trends, and economic conditions.
   - Key Skills: Analytical thinking, financial modeling, knowledge of financial markets, Excel proficiency.
   - Industries: Banking, investment firms, corporations, and asset management.
 
Economic Consultant
   - Role: Economic consultants provide expert advice on economic issues for businesses, law firms, or government agencies. They may conduct economic impact studies, analyze industry trends, and offer guidance on regulatory issues.
   - Key Skills: Research, data analysis, economic modeling, critical thinking.
   - Industries: Consulting firms, legal firms, government agencies.
 
Data Analyst
   - Role: Data analysts collect, process, and analyze data to help organizations make informed decisions. In economics, this often involves examining market trends, consumer behavior, or business performance.
   - Key Skills: Statistical analysis, programming (Python, R), data visualization, SQL.
   - Industries: Tech companies, healthcare, finance, retail, marketing.
 
Market Research Analyst
   - Role: Market research analysts study consumer preferences, market conditions, and competitors. They provide insights that help companies understand what products or services to offer and how to position them.
   - Key Skills: Survey design, qualitative and quantitative analysis, statistical software, attention to detail.
   - Industries: Advertising, market research firms, consumer goods, media.
 
Actuary
   - Role: Actuaries use mathematics, statistics, and economic theories to evaluate financial risks, particularly in insurance and pension programs. They develop models to predict future events and their financial impact.
   - Key Skills: Statistical analysis, risk assessment, proficiency in software like Excel and R, strong mathematical skills.
   - Industries: Insurance, consulting, government, finance.
 
Policy Analyst
   - Role: Policy analysts study and evaluate the effects of existing or proposed policies. They often work for government agencies, think tanks, or non-profits, examining issues like healthcare, education, or economic reform.
   - Key Skills: Research, critical thinking, writing, statistical analysis, understanding of policy and regulatory environments.
   - Industries: Government, non-profits, research institutes, think tanks.
 
Investment Banker
   - Role: Investment bankers help organizations raise capital through underwriting or issuing stocks and bonds. They also provide advisory services for mergers, acquisitions, and other financial transactions.
   - Key Skills: Financial modeling, valuation, analytical thinking, networking, understanding of capital markets.
   - Industries: Banks, investment firms, corporate finance, private equity.
 
Budget Analyst
   - Role: Budget analysts help organizations plan their finances, review budget proposals, and ensure that resources are allocated efficiently. They provide insights to support financial planning and decision-making.
   - Key Skills: Financial analysis, budgeting, attention to detail, understanding of financial software.
   - Industries: Government, non-profits, educational institutions, corporations.
 
Supply Chain Analyst
   - Role: Supply chain analysts optimize supply chain operations by analyzing data related to purchasing, inventory, and logistics. They aim to improve efficiency, reduce costs, and ensure smooth operations.
   - Key Skills: Data analysis, project management, understanding of logistics, problem-solving.
   - Industries: Manufacturing, retail, logistics, e-commerce.
 
Management Consultant
   - Role: Management consultants help organizations improve their performance by providing expert advice on business strategy, operations, and efficiency. They analyze business problems and propose solutions to enhance profitability.
   - Key Skills: Problem-solving, data analysis, strategic thinking, strong communication, project management.
   - Industries: Consulting firms, various industries (finance, healthcare, technology).
 
Credit Analyst
   - Role: Credit analysts assess the creditworthiness of individuals, businesses, or organizations seeking loans. They analyze financial statements and economic data to determine the likelihood of default.
   - Key Skills: Financial analysis, risk assessment, attention to detail, understanding of financial statements.
   - Industries: Banks, credit rating agencies, financial institutions, lending companies.
 
Public Sector Economist
   - Role: Economists in the public sector analyze economic data, develop forecasts, and evaluate the impact of policies. They may work on issues like taxation, labor markets, trade, or economic development.
   - Key Skills: Economic modeling, policy analysis, statistical software, communication.
   - Industries: Government agencies, international organizations (e.g., IMF, World Bank), public policy think tanks

Learn about the future of careers in business.

*Created with the assistance of chatGPT....

Tuition fees for programs in the Faculty of Arts

First-year tuition

Type of fees Tuition (8 months of school)
Domestic (Ontario residents) $9,000
Domestic (Out of province students) $9,000
International (visa students) $57,000
 
  • Estimated amounts listed include incidental fees. Fees based on 2024-25 tuition rates.
  • Visit our financing page to learn about scholarships, estimate your total expenses, and see how co-op can help pay for your education.

Admissions

Apply to Honours Arts or Honours Arts and Business and choose Economics as your major at the end of first year.

Ontario students: six Grade 12 U and/or M courses including

  • any Grade 12 U English (minimum final grade of at least 70%)

Mathematics of Data Management is recommended as helpful background for the program.

Admission average: Low 80s (co-op and regular)

Not studying in Ontario? Search our admission requirements for Honours Arts or Honours Arts and Business.

Related program

Mathematical Economics

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