The wavelet toolbox is not included in any of the basic licenses, including not being included in the Student Version license.
If your university supplied the MATLAB instead of asking you to buy it through something like the bookstore, it could be that they have already licensed the toolbox for you, and you might possibly only need to specifically install it.
Otherwise, you will need to purchase the toolbox and install it. If you are using Student Version license, then see http://www.mathworks.com/academia/student_version/companion.html
