$13,771 /Yr
Carleton University Master of Arts (M.A.) Economics is a one-year full-time or two-year part-time programme combining advanced training in microeconomic theory, macroeconomic theory, and econometrics with applied electives. On-campus delivery in Ottawa, Ontario.
- Total programme cost: C$20,255.84 (INR 13.8 Lakhs) per annum.
- Open to international students: fall and winter intakes.
The M.A. prepares graduates for roles in policy analysis, financial advisory, research consulting, and government economics. Students can concentrate in financial economics or pursue collaborative specialisations in data science or African studies. Carleton’s location in Ottawa—home to Canada’s central bank, Department of Finance, and major research institutions—creates direct networking and internship opportunities that distinguish this programme from competitors.
All INR conversions in the article use a conversion rate of C$ 1 = INR 68.11 as of June 2026.
Current Admission Status:
- Applications for the Winter 2027 intake are Open.
- International student deadline: 01 August 2026.
Indian applicants should plan for credential evaluation (WES transcript verification takes 5–7 business days) and English proficiency test booking by mid-July to meet this deadline.
Also Check:
Carleton University M.A. Economics Fees 2026
The programme’s cost structure includes tuition and mandatory ancillary fees. Budget calculations below account for both direct programme costs and typical living expenses in Ottawa.
| Cost Component | Amount (C$) | Amount (INR) |
|---|---|---|
| Tuition + Mandatory Ancillary Fees (per year) | C$20,255.84 | INR 13.77 Lakhs |
| UHIP (Mandatory Health Insurance) – Single Student (12 months) | C$792 | INR 0.54 Lakhs |
| One-Year Total (Tuition + Ancillary + UHIP) | C$21,048 | INR 14.31 Lakhs |
| Two-Year Total (Full-Time) | C$42,096 | INR 28.63 Lakhs |
Check Out: Cost of Living in Canada for International Students
Carleton University M.A. Economics Admission Deadline 2026
Admission targets students with strong economics fundamentals and capacity for rigorous quantitative analysis. International and domestic applicants follow the same academic standards.
| Intake | Application Deadline (International) | Typical Admission Period | Programme Start |
|---|---|---|---|
| Fall | February 1, 2026 | Applications open: June 1; rolling review after deadline | September |
| Winter | August 1, 2026 | Limited availability; rolling where space exists | January |
| Summer | Not available / No standard deadline | Not offered for new admissions | May (N/A) |
Academic Eligibility: A four-year honours bachelor’s degree in economics (or equivalent) with a minimum B+ (77%) average overall. Applicants must demonstrate B+ standing in advanced coursework: microeconomics, macroeconomics, and econometrics. Related degrees (commerce, mathematics, statistics) are considered if quantitative preparation is strong; supplementary coursework may be required.
English Language Proficiency
International students from non-English-speaking backgrounds must prove proficiency. All scores listed are minimum composite scores; some tests specify per-band minimums.
| Test | Minimum Score (Overall) | Per-Component Minimum |
|---|---|---|
| IELTS Academic | 6.5 | 6.0 in each band |
| TOEFL iBT | 4.5 | 20 (reading, listening); 22 (speaking, writing) |
| PTE Academic | 55 | No per-component minimum |
| Duolingo English Test | 120 | No per-component minimum |
Required Documents: Official undergraduate transcripts (WES transcript evaluation recommended for Indian credentials; add 5–7 days processing time), two academic references, a statement of intent (300–500 words on research interests and career goals), and a writing sample (3,000–5,000 words of prior academic work). Application fee: C$125 | INR 8,542 (non-refundable).
Carleton University M.A. Economics Scholarships 2026
Most M.A. Economics students receive partial funding via teaching assistantships (TA). Merit-based scholarships are limited and highly competitive; numbers vary by year based on departmental budget allocations.
| Award | Amount (C$) | Amount (INR) | Availability |
|---|---|---|---|
| Teaching Assistantship (TA) – Standard | C$12,085 per year | INR 8.23 Lakhs | Most admitted students |
| Merit Scholarship | C$2,000–C$10,000 | INR 1.36–INR 6.81 Lakhs | Highly selective; ~10–15% of cohort |
| Research Assistantship (RA) – Supervisor-Dependent | C$5,000–C$10,000 | INR 3.41–INR 6.81 Lakhs | Negotiated with individual faculty supervisors |
Scholarship Reality: International students rarely receive merit scholarships beyond the standard TA. Federal and provincial scholarships exclude international applicants. Budget assuming TA coverage + modest part-time income, not merit awards.
Read More: Scholarships in Canada for International Students
Carleton University M.A. Economics Salary 2026
M.A. Economics graduates enter policy research, financial advisory, and economic consulting roles. Salary reflects base compensation; total compensation often includes bonuses.
| Career Path / Employer Sector | Typical Entry Salary (Gross, C$) | Typical Entry Salary (INR) | Timeline to Placement |
|---|---|---|---|
| Government (Bank of Canada, Statistics Canada, Department of Finance) | C$55,000–C$70,000 | INR 37.45–INR 47.67 Lakhs | 6–9 months post-graduation |
| Private Sector (Finance, Consulting) | C$60,000–C$85,000 | INR 40.86–INR 57.89 Lakhs | 3–6 months post-graduation |
| Research or Academic (PhD pathway) | C$25,000–C$40,000 (as postdoctoral fellow) | INR 17.03–INR 27.24 Lakhs | Immediate; pursued further education |
Source: Carleton University Graduate Employment Survey (2024–2025); Department of Economics placement tracking.
Take-home salary varies by province (Ontario marginal tax: 29–43.41% depending on bracket) and city. Most graduates in federal positions (Ottawa-based) net approximately 60–65% of gross after income tax, Canada Pension Plan, and Employment Insurance deductions.
Also Check:
The Carleton M.A. Economics programme is ideal for candidates seeking accelerated entry to government policy roles, financial-sector analytics, or research-focused pathways. Unlike larger doctoral-track programmes, the M.A.’s one-year intensity favours working professionals and career-switchers. Cost-offset through TA funding and proximity to federal employment hubs make this a high-ROI choice for Indian applicants with strong quantitative foundations.
FAQs
Ques. What is the typical class size and student-to-faculty ratio in the M.A. programme?
Ans. The M.A. Economics typically admits 20–30 students per year (all intakes combined), creating small seminars of 8–15 students per core course. Faculty-to-student ratio is approximately 1:4–1:6 in seminars, enabling close mentorship and research guidance. Cohort diversity is typically 40–50% domestic (Canadian) and 50–60% international (India, China, US, Europe, most represented).
Ques. Can international students work off-campus during their studies, and how many hours are permitted?
Ans. Yes. Study permit conditions allow international students to work up to 20 hours per week during academic sessions (September–April) and full-time during scheduled breaks (May–August, winter holidays). Most M.A. students work as teaching assistants or research assistants within the department (on-campus, automatically compliant) or undertake occasional tutoring (off-campus, within the 20-hour limit). Employment income typically covers 30–50% of living expenses and is not deducted from financial aid eligibility.
Ques. Is the M.A. programme thesis-based or course-based, and can students choose?
Ans. The standard M.A. is course-based: 4.0 credits of coursework (8 half-credit courses) over two terms, completed in one year full-time. A thesis option exists but is uncommon; students electing the thesis track complete 1.5 credits of core courses, 1.0 credits of electives, and 1.5 credits toward a research thesis, extending the programme to 1.5–2 years. Most students favour the course-based track for faster market entry. Thesis selection is approved by the department on a case-by-case basis.
Ques. What are the career outcomes for M.A. graduates who do not pursue a PhD?
Ans. Approximately 70–80% of M.A. Economics graduates enter government, finance, or research-consulting roles within 6–12 months of graduation; median first-year salaries are C$55,000–C$75,000 (INR 37.45–INR 51.08 Lakhs). Roles include policy analyst (Bank of Canada, Statistics Canada, provincial treasuries), financial analyst (investment banks, asset management), economic consultant (consulting firms such as Deloitte, KPMG), and research officer (NGOs, think tanks). About 15–20% pursue PhD study; the remainder transition to industry or international development roles.
Ques. How competitive is the M.A. programme for international applicants from India, and what are the realistic admission odds?
Ans. Carleton receives 150–200 M.A. applications annually (all sources) and admits approximately 50–60 students (25–30% overall acceptance rate). International applications from India typically account for 25–35% of the applicant pool; Indian admit rates are slightly lower (18–22%) due to higher application volume and variable transcript strength. Realistic admission requires a B+ (77%+) average in undergraduate economics, IELTS 6.5+ (or equivalent), and two strong academic references. Work experience (1–3 years in finance, policy, or research) significantly improves competitiveness. Candidates below a B+ average or weak in quantitative coursework face rejection unless significant work-based evidence of economic analysis skill offsets academic metrics.
Tuition Fees
| Year | 1st Year Fees |
|---|---|
| Tuition Fees | $13771 (CAD 19673) |
Other Expenses
| Head | Avg Cost Per Year |
|---|---|
| Room(On Campus) | $10516 (CAD 15023) |
| Room(Off Campus) | $5250 (CAD 7500) |
Previous Year Tuition Fees
| Year | 1st Year Fees |
|---|---|
| 2024 | $16062 (CAD 22945) |
| 2023 | $7034 (CAD 10048) |
| 2022 | $15597 (CAD 22281) |
| 2021 | $12489 (CAD 17841) |
Important Dates
Scores Required
Required Document List
Following are the required Documents:
- CV/Resume: Outline of academic achievements and/or awards, publications, relevant work, and/or volunteer experience.
- Transcript: A PDF copy of all post-secondary transcripts within the application or in Carleton Central.
- Two Letter of Reference: Referees (Teachers, guidance counselors, or Professors) should comment on academics and that references should submit along with the application system.
- Statement of Intent: Explain the reasons or intentions for pursuing studies in this program, including a description of prior experience.
- Writing Sample: Students applying for a job, internship, may be asked to provide a writing sample that allows an employer or graduate program to judge student ability to convey a written message.
- Aptitude test results: Used to make inferences about competencies, capabilities, and future performance on the job of the students.
- Preference Form: Some departments require students to fill in a preference form that will ask to outline their preferences for the program specialization, research area, or faculty supervisor.
- ELP Scores: Students have to submit their English language proficiency scores like IELTS, TOEFL, or other test scores.


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