Financial Economics (Master of Financial Economics (MFE))

Frequently asked questions

• How much does Financial Economics (Master of Financial Economics (MFE)) cost?

  CAD 64,654 / year.

• What English score does it need?

  IELTS 6.5 overall is the score listed for this programme.

• How long is it?

  4 terms, as listed by the university.

• What are the entry requirements?

  Programme admission requirements as published by Western: • A four-year undergraduate degree from an accredited university in: • Economics • Finance or Business Administration (with intermediate or advanced courses in macroeconomics, microeconomics, and econometrics, or comparable alternative courses) • A quantitative discipline (i.e., mathematics, statistics, actuarial science, etc.) • A general degree (with intermediate or advanced courses in mathematics, macroeconomics, microeconomics, and econometrics, or comparable alternative courses) Candidates with a 3-year general degree are not eligible • Achieved a minimum 78% average overall in the last two full-time years of the undergraduate degree. || Additional requirements: • Additional courses/tests may be required depending on an applicant's academic background. Please visit MFE Admissions Requirements for more information. Graduate Record Examination (GRE) • All candidates are encouraged to take the Graduate Record Examination General test and submit their scores. Applicants whose previous degree is not from a Canadian university are required to submit the GRE. A minimum GRE score of 150 (new scale) on the Quantitative component is required. || SGPS university-wide minimum - Master's: 'Applicants must possess a four-year degree from a university, college or institute. The School of Graduate and Postdoctoral Studies requires at least a 70% average across courses taken in the last two full-time years of the undergraduate degree. Equivalent qualifications may be considered based on the standards of the discipline or profession.' Doctoral: 'Applicants must possess a Master's degree or equivalent from a university, college or institute, and provide evidence of research potential. The School of Graduate and Postdoctoral Studies requires at least a 70% average in the Master's degree, as determined by the School of Graduate and Postdoctoral Studies.' Source: https://grad.uwo.ca/admissions/international/index.html || English language proficiency: Applicants whose first language is not English must furnish evidence of their proficiency in the use of the English language. If an applicant has been studying for more than two years toward a degree from a recognized university or college in Canada, or holds a degree from a country where the primary language is English, the English language proficiency requirement may be waived. • The Test of English as a Foreign Language (TOEFL). Minimum acceptable score is 550 for the PBT (paper-based) version, or 86 for the iBT (Internet-based) version with no individual score below 20. [Western's TOEFL ID is 0984 ]. • The International English Language Testing Service (IELTS Academic). Minimum acceptable score is 6.5 out of 9. • The Canadian Academic English Language Assessment (CAEL Assessment). Minimum acceptable score is 60. · English: IELTS 6.5 · English test waiver: Western does not publish a blanket country or medium-of-instruction waiver for graduate admission. SGPS states the requirement applies to 'Applicants whose first language is not English', and under 'Exemptions': 'Applicants may request an exemption by contacting their graduate program(s) of interest. For the French and Hispanic Studies programs only, evidence of proficiency in English is a degree requirement but not a requirement for admission.' Western also offers a conditional route instead of a test: the Western English Language Centre 'allows academically eligible students interested in pursuing a graduate degree at Western the opportunity to receive a conditional offer of admission to graduate studies without successful completion of an English language proficiency test', on condition the student completes the Centre's programme. Source: https://grad.uwo.ca/admissions/apply.html and https://grad.uwo.ca/admissions/international/index.html · GRE/GMAT: Graduate Record Examination (GRE) || • All candidates are encouraged to take the Graduate Record Examination General test and submit their scores. Applicants whose previous degree is not from a Canadian university are required to submit the GRE. A minimum GRE score of 150 (new scale) on the Quantitative component is required. · Application fee: CAD 185.00 - 2026-2027 Application Fees Table 3, Graduate Programs: 'All other graduate programs 185'. Source: 2026-2027 Application Fees (Table 3), https://registrar.uwo.ca/student_finances/fees_refunds/2026-27-Application-Fees.pdf · Deposit: CAD 2,000.00 non-refundable - 2026-2027 Program-Related Tuition Fees (Table 2), General section, line 226 'Tuition Deposit, Full-time International Masters, non-refundable, 2,000'. Source: https://registrar.uwo.ca/student_finances/fees_refunds/2026-27-Program-Related-Fees2.pdf

• Is there a scholarship?

  Western Graduate Research Scholarship (WGRS), Graduate Teaching Assistantships, Graduate Fellowships and Graduate Student Assistantships are administered by the graduate programme; SGPS states 'Decisions regarding the structure, sources and annual amount of your graduate funding over the course of your program are made primarily at the Faculty and/or graduate program.' Doctoral funding guarantee, open to international students: 'For domestic and international doctoral students who start their program in September 2026 (September 1, 2026 - August 31, 2027), Western guarantees a minimum annual funding support package of $17,000, plus $6,487 for tuition, for a total of $23,487.' Average funding received from all sources: Doctoral CAD 35,476 (2025), Master's CAD 26,277 (2025). International students are eligible for Western's Graduate Bursary and for the Ontario Graduate Scholarship (OGS). Western lists formalised international sponsorship partnerships with: CGS-Michael Smith Foreign Study Supplements, China Scholarship Council, Libya North-American Scholarship Program, Egypt Cultural and Educational Bureau, Mitacs Globalink Research Awards, Organization of American States Program, Rhodes Scholarships, Russia Global Education Program, Saudi Arabia King Abdullah Scholarship Program and the Vietnam International Education Development Program. Source View scholarship page