MFE Admissions

Summer 2025 Entry – Important Application Deadlines 

Applications for Summer 2025 entry open through the application management portal on October 1, 2024. (MFE does NOT have January/September starts.)

The final date that you MUST submit the application payment is January 13, 2025 by 11:59pm ET (Eastern Time) and the final deadline for all the supporting documents including video interview to be received is January 20, 2025 by 11:59pm ET (Eastern Time). Any fee paid after the fee payment deadline will not be refunded and your application will be listed as “deadline missed”. These late applications will not be reviewed regardless of the reasons.

Admissions Criteria

Applicants must meet the School of Graduate Studies (SGS) and MFE program admission requirements.

A Recognized Four-Year Undergraduate Bachelor’s Degree or Equivalent

Applicants must have completed, or must be in the final year of an appropriate four-year bachelor’s degree program (or its University of Toronto evaluated equivalent) with a minimum mid B standing (3.0/4.0 GPA or 75%) in the final year of that program. Applicants educated in a country other than Canada should check the University of Toronto equivalent qualifications table.

Strong Preparation in Economics

Applicants are recommended to have successfully completed the following university-level courses prior to the official start date of the Summer 2025 program  (introductory, usually taken in year 1 or 2; intermediate, usually taken in year 2 or 3; or advanced, customarily taken in year 3 or 4):

• Intermediate Microeconomics (for example, at U of T: ECO 204 or ECO 206)
• Intermediate Macroeconomics (for example, at U of T: ECO 208 or ECO 209)
• Intermediate Statistics (for example, at U of T: ECO 220 or ECO 227)
• Calculus (for example, at U of T: MAT 133)

Quantitative & Analytical Proficiency

Applicants with an undergraduate degree from a non-Canadian university must demonstrate their quantitative/analytical proficiency by submitting GRE or GMAT scores (applicants must have taken these tests within two years prior to the final application deadline – no exceptions).

English Language Proficiency

Applicants must demonstrate the ability to communicate in English in one of the following ways:

• An undergraduate degree from a Canadian university (irrespective of whether the language of instruction is English or French).
• An undergraduate degree from a university in one of the following countries: Australia, the Bahamas, Barbados, Botswana, Ghana, Guyana, Hong Kong, Ireland, Jamaica, Kenya, Lesotho, Liberia, Malawi, Malta, Namibia, New Zealand, Nigeria, Papua New Guinea, Sierra Leone, Singapore, South Africa, Swaziland, Tanzania, Trinidad and Tobago, Uganda, United Kingdom, United States of America, Zambia, and Zimbabwe.
• An undergraduate degree from a university at which the language of instruction and examination was English. Applicants from a non-English speaking country (other than Canada) whose degree was conducted in English must have that institution mail (address below) an official written statement to the MFE program confirming English as the language of instruction and examination. Address: MFE Program – Admissions Office, Department of Economics, University of Toronto, 150 St. George Street, Toronto, ON M5S 3G7 Canada.
• Satisfactory performance on one of the following standardized English Language Proficiency Tests  (applicants must have taken these tests within two years prior to the final application deadline – no exceptions):
  • • Test of English as a Second Language (TOEFL):
      • Minimum required overall score on the Paper Based Test (PBT): 580
      • Minimum required overall score on the Internet Based Test (iBT): 93
      • Results from the TOEFL iBT Home Edition can be used to satisfy the English-language proficiency requirement; however, we do NOT accept scores from TOEFL Essentials, TOEFL MyBest, and TOEFL ITP or TOEFL ITP Plus for China.
    • International English Language Testing System (IELTS):
      • Minimum required overall score: 7.0 (Academic)
      • Minimum required score in each part: 6.5
      • We do NOT accept the IELTS Indicator or General Training test.
    • Canadian Academic English Language Assessment (CAEL):
      • Minimum required overall score: 70
      • Minimum required score in each part: 60

Evidence of Strong Communication Skills, Both Oral and Written

Applicants must:

• Submit a one-page “Statement of Interest” in PDF format.
• Submit a one-page resume in PDF format.
• Complete a (pre-recorded) “Video Questions Interview”.

Two Academic References

Applicants must arrange for two academic references. Applicants with at least two years of professional experience may request the MFE program for permission to submit one academic and one professional reference by emailing mfe.admissions@utoronto.ca.

Frequently Asked Questions