Orthogonal frequency division multiplexing (OFDM) is pronounced in wireless communication systems. Methods for improving the performance of the OFDM-based systems are mostly sought. A method of doing this involves error correction coding and another, a better multicarrier modulation kernel. In this work, convolutional error correction coding with interleaving is introduced in wavelet multicarrier modulation OFDM system (wavelet-OFDM) to improve the performance of multicarrier systems as the signal traverses the multipath and noisy transmission channels. This is compared with FFT-based multicarrier modulation (FFT-OFDM). Results show that coded wavelet-OFDM saves more than a half of the transmit power than the uncoded wavelet. Also it will be shown that, the interleaved and non-interleaved coded wavelet-OFDM well outperform interleaved coded and non-interleaved coded FFT-OFDM systems respectively.