There's about 1 million people in Calgary and about 5 months of the year to golf, which means that golf is relatively expensive. Around Calgary, there are several excellent courses, but outside of the few world-famous courses in the Rockies, this is not a golf destination on par with Palm Springs. For the most part, in Calgary you get competent courses that border on unspectacular.
The Kananaskis Country Golf Course, however, is truly spectacular. The mountain setting, the perfect landscaping and maintenance, the playability, and the world class staff make this Alberta's best value for your dollar course. The golf course is publicly owned, ie. by the Alberta Government, and the rates are definitely kept below market average. The only problem is finding a tee time!
Heritage Pointe hosts a number of significant tournaments and is largely regarded as one of the best courses in Canada that's open to the public. While you will certainly pay more here than in Kananaskis, it's still a great facility, and you won't be disappointed.
Sirocco and GlenEagles both did well in a recent Calgary Herald survey of the "Best 18 Holes in Calgary." Sirocco had 5 of the 18! It's a great value, just south of Spruce Meadows. GlenEagles provides great mountain views and challenging par 3s.
Elbow Springs, River Spirit, D'arcy Ranch, and McKenzie Meadows are all fine courses. Nothing too great about any of them, but they are fun.
1 Heritage Pointe Drive
RR1
Regarded as 27 of Alberta's best golf holes...
Comp 21, Site 13, RR#9
A challenging links style course...
166 Pinebrook Way Southwest
Historic Golf & Country Club...
Wintergreen Road
Mountain golf, only 30 minutes from Calgary...
241155 Range Road 34
Panoramic mountain views, 30 minutes from downtown...
240086 Lott Creek Boulevard
Semi-private 27 hole facility on the Elbow River valley...
17215 McKenzie Meadows Drive
Links style golf by the Bow River...