🎓 Academic Program
U of Toronto Department of Economics — Canada's top economics department (QS #20 globally). Undergrad options: Economics Specialist, Economics Major, and the highly quantitative Mathematics and Economics Specialist (Joint) with the Math Dept. Faculty include Michael Baker (labor), Aloysius Siow (family economics), Yuriy Gorodnichenko (visiting appointments), and Robert McMillan (education). Home to the Munk School of Global Affairs and the Institute for International Business. St. George downtown campus is home to the economics dept; UTM and UTSC campuses have parallel programs. Rotman Commerce cross-registration available for finance electives.
🎯 Admissions
📊 Exam Requirements
📅 Deadlines
💰 Financial Aid & Scholarships
📑 Scholarship requirements
- Lester B. Pearson International Scholarship: SCHOOL NOMINATION REQUIRED (merit-based, not Mongolia-specific)
- Speak to your school counselor NOW about nomination (deadline typically September-October)
- Only ~37 recipients globally per year
- Outstanding academic achievement (top 1-2% of school)
- Demonstrated leadership AND community impact
- Personal essays + 2 references
- Final scholarship application after nomination
🔄 Scholarship maintenance
Maintain minimum 3.5 GPA (out of 4.0). Full-time enrollment. Positive contribution to U of T community.
⚠️ Conditions & restrictions
- Cannot hold simultaneously with other major scholarships
- Maintain academic standing
- Pearson is the ONLY full-ride for international UG at U of T
- Without Pearson: $68,000-75,000/yr total cost
📝 Application requirements
- OUAC or direct U of T application
- High school transcripts
- For Pearson: school nomination + essays + references + leadership evidence
- Some programs may require supplemental application
✍️ Supplemental essay prompts (2025-2026)
- See U of Toronto Economics Pearson supplement — personal essays on leadership, community impact, and academic excellence (multiple questions, ~3,000 total words)
⭐ "Why Us?" — Essay hooks & school personality
U of Toronto Economics is Canada's #1 econ department and QS-ranked in the global top 20. The Munk School of Global Affairs is next door — Econ students routinely cross-register into international policy courses. Bank of Canada, the Big Five Canadian banks (RBC, TD, BMO, Scotiabank, CIBC), and Ontario Ministry of Finance all recruit heavily from U of T Econ. Rotman Commerce cross-registration lets Econ majors add finance depth. Toronto is Canada's financial capital.
🏆 Unique advantages
Top Canadian university (QS #25). Pearson is one of world's most generous merit scholarships — full tuition + accommodation + living + books for all 4 years. Toronto job market = financial center of Canada. Post-graduation work permit (PGWP) up to 3 years — direct path to Canadian PR.
💼 Career outlook
Top placement at Big Five Canadian banks (RBC, TD, BMO, Scotiabank, CIBC), McKinsey Toronto, Bain Canada, Deloitte Canada Economics, Bank of Canada, Ontario Ministry of Finance. Starting salary CAD 65,000-85,000 (USD 47,000-62,000).
⏰ Work while studying
Study permit: 24 hrs/week during term (increased from 20 in 2024), full-time during breaks. Toronto has many opportunities. Co-op programs at UTSC. PGWP (Post-Graduation Work Permit) up to 3 years.
🎯 Essay Hooks — "Why Us?" эссэд ашиглах specific anchor-ууд
Ерөнхий "great library" биш — тодорхой campus culture, program, alumni хэсгүүд. Тухайн сургуулийн уникаль зүйлсийг эссэдээ дурдснаар "чи маш их судалж, зөвхөн бидэн рүү зорьж байна" гэсэн сигнал өгнө.
- Pearson Scholarship — one of world's most generous merit scholarships, covers full tuition + living for 4 years
- Munk School of Global Affairs cross-registration for international policy courses
- Direct Bay Street Toronto finance pipeline — RBC, TD, BMO all recruit heavily
- Mathematics + Economics Specialist joint degree with U of T's world-class Math dept
- Post-Graduation Work Permit up to 3 years + direct path to Canadian PR
📝 Application effort estimation
🎯 Backup plans
- Apply for Pearson Scholarship — school nomination is KEY
- McGill Economics as alternative (lower tuition)
- UBC Vancouver School of Economics
- Without Pearson: U of T is expensive (~CAD 70,000/yr)
- Waterloo Economics or Queen's Economics as alternatives
🔗 Official sources
- future.utoronto.ca
- economics.utoronto.ca
- future.utoronto.ca/finances/scholarships/lester-b-pearson-international-scholarship