Economics degree

Professor writing on a chalkboard in front of students

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

September to December

  • ECON 101 – Introduction to Microeconomics
  • MATH 104 – Introductory Calculus for Arts and Social Science
  • ARTS 160 – Inquiry and Knowledge Creation
  • Prospective major #2
  • Elective

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

September to December

  • ARBUS 101 – Introduction to Business in North America
  • ECON 101 – Introduction to Microeconomics
  • MATH 104 – Introductory Calculus for Arts and Social Science
  • Prospective major #2
  • Elective

January to April

  • ARBUS 102 – Accounting Information for Managers
  • ARBUS 202 – Professional and Business Ethics
  • ARTS 160 – Inquiry and Knowledge Creation
  • ECON 102 – Introduction to Macroeconomics
  • Prospective major #2

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

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

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 -


Learn more about co-op →

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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From the Missing Manual

Check out our Missing Manual website for tips and advice from Waterloo students and staff.

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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

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!

Matash sitting on a staircase

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.

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