Economics degree
Explore what makes economies tick
What's the appropriate mix of governments and markets in the economy? How should we mitigate the environmental side effects of economic activity? What are the impacts of AI on the future of work? How do firms develop from entrepreneurial ventures into public corporations?
Economists approach these questions using a mix of institutional knowledge, theoretical models developed with mathematical tools, and the statistical analysis of economic data.
You'll learn to apply the tools of economics to business and finance; data analysis; government and politics; education, work, and wages; health and well-being; the environment; or forecasting the impacts of events on the interconnected global economy.
At Waterloo, you'll combine statistical training with skills that prepare you for careers in both business and public policy. You'll develop strong institutional knowledge in your areas of specialization.
As well, a thorough grounding in economic theory gives you a framework with which to understand the world both inside and outside the workplace. Together, these skills will prepare you well for the decision-making roles you will take on later in your career.
If you're looking for a stronger foundation in mathematics and quantitative analysis, you can choose Mathematical Economics as your major in Honours Arts or Honours Arts and Business, giving you additional preparation for research-oriented careers and graduate studies in economics and related fields.
What courses will you take?
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 can choose to study Economics through Honours Arts or Honours Arts and Business.
Honours Arts
January to April
- ECON 102 – Introduction to Macroeconomics
- Prospective major #2
- 3 electives
This is a sample schedule. Courses or when a course is offered may change depending on availability.
Honours Arts and Business
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.
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.
Popular specializations and minors for students within this program include:
You can also include one or more of the minors available to all Waterloo students.
Faculty:
Faculty of Arts
Degree:
Bachelor of Arts in Economics
Learn more: What can you do with a degree 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
In the world's leading co-op program, you'll 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. Your first work term will be in the winter term of second year.
| 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 | - |
What can you do with a degree in Economics?
The careers listed below are examples of what you might be able to pursue. Through the courses you take, specializations you choose, extracurriculars, and any work experience you gain, you'll graduate with a degree that's uniquely you and be ready to pursue a career that's right for you!
Economist
You’d analyze data to understand trends like inflation, employment, or consumer spending. While many economists pursue graduate school, an undergraduate degree can get you started in research roles that support policy or business decisions.
Policy analyst
In this role, you’d study issues such as housing, education, or healthcare and help governments or organizations decide what to do. You’d combine data analysis with clear writing to explain how policies affect people’s everyday lives.
Financial analyst
You’d help businesses or individuals make smart financial decisions by studying budgets, investments, and market trends. Economics gives you a strong foundation in numbers and critical thinking without requiring you to be a math expert.
Business or management analyst
Examine how organizations operate and suggest ways to improve efficiency or reduce costs. Many companies value economics graduates because you’re trained to see the big picture and think strategically.
Banking or financial services associate
You could work at a bank, credit union, or investment firm helping clients understand loans, savings, or investments. Economics helps you explain financial concepts clearly and make informed recommendations.
Market research analyst
Study consumer behavior to help companies understand what people buy and why. This career blends data, psychology, and economics to shape product design and advertising strategies.
Public sector or government officer
You might work in departments focused on finance, trade, labor, or economic development. Your role could involve budgeting, economic forecasting, or helping design programs that support communities.
Data or economic research assistant
In this position, you’d collect, clean, and analyze data for professors, think tanks, or consulting firms. It’s a great early career option if you’re considering graduate school or enjoy working behind the scenes with data.
International trade or global affairs analyst
You’d study how countries exchange goods, services, and resources. Economics helps you understand global markets and international relationships, often in roles with governments or international organizations.
Consulting associate
Work with different clients to solve business or policy problems using research and analysis. Consulting suits students who enjoy fast‑paced work and applying economic thinking to real‑world challenges.
Nonprofit program or finance officer
Many nonprofits need staff who understand budgets, funding, and program evaluation. You’d help organizations measure impact and use resources effectively to support their mission.
Entrepreneur or startup founder
If you want to start your own business, economics helps you understand pricing, costs, and consumer demand. You’d use both creativity and analytical thinking to turn ideas into reality.
Graduate or professional school pathways
Economics is excellent preparation for law school, public policy, MBA programs, or graduate economics. You’ll already be comfortable with analysis, research, and structured arguments.
If you like problem‑solving, data, and understanding how the world works at a systems level, a Bachelor of Arts in Economics offers flexible skills that lead to many exciting career paths.
Further education
Many of our students pursue graduate programs in economics at schools such as the University of British Columbia, the University of Toronto, Queen’s University, Western University, and McGill University. Internationally, students have studied at universities such as the University of Hong Kong, the University of Barcelona, Duke University, New York University, and London School of Economics.
Some of our students pursue graduate degrees in subjects other than economics, such as data science, financial economics, public policy, and management analytics.
Learn more
Read our article on what can you do with an economics degree →
Admissions
Ontario students
Six Grade 12 U and/or M courses including
- any Grade 12 U English (minimum final grade of at least 70%)
Admission average: High 70s (co-op and regular)
Recommended courses
We strongly recommend that you take high school Calculus and Vectors and Advanced Functions (or equivalents) as economics is a mathematically intensive discipline. Students without this background can take the necessary mathematics courses in first year.
Not studying in Ontario?
Search our admission requirements for Honours Arts or Honours Arts and Business.
How to apply
Apply to Honours Arts or Honours Arts and Business and choose Economics as your major at the end of first year.
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Connect with us
Questions about courses, programs, requirements, careers?
Please contact Stavros Stavroulias, our Faculty of Arts recruitment co-ordinator who can answer any questions you have.
From the Missing Manual
Check out our Missing Manual website for tips and advice from Waterloo students and staff.
What can you do with an economics degree?
When you think “economics,” you might think of business, finance, banking… you know, the economy. But economics is bigger than that: it’s a way of studying human behaviour — and economists work in nearly every field you can think of.
ECON 424: Machine Learning in Economics
In this course, you'll explore how AI can be used to predict different outcomes based on data sets about human behaviour and create AI algorithms, which you'll use in prediction competitions to test their accuracy against your classmates!
Economic reality
Combining STEM with the arts, Honours Arts and Business student Mahtash found her perfect fit in Economics classes, where she learned to analyze data and use it to make real differences in people's lives.