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Well PI does not have its own Phd program (it has a new master's program though), if you want to study at PI you will need to enroll at the University of Waterloo and get a cosupervisor at UW. The courses offered are therefore the courses offered to all UW students. But, PI attracts a lot of big shots and holds a lot of conferences... The bottom line, PI is too young to really have a top Phd program, but it has a lot of money and attracts lots of good researchers.