Economics is one of the most complex parts of social science that impacts different aspects of life, such as politics, geography, engineering, law, psychology, etc. The primary purpose of economics is to discover the most rational and efficient use of resources to achieve individual and societal objectives.
By studying at leading economics universities in the United States, international students will gain knowledge of economic theory and principles, mathematics, economic models, and analysis tools.
Students also learn about the instruments and applications of economics, such as taxation and statistical analysis. With over 400 universities offering an Economics degree in the United States, selecting the best option might be difficult.
International students studying in the United States benefit because America is home to seven of the world's top ten economics schools. Graduates of economics earn more than graduates of any other social science discipline.
Economists, investment banking analysts, data analysts, marketing managers, auditors, teachers, and a variety of other corporate, government, and academic professions are all available in the US job market to those with a degree in economics.
Most of the top colleges in the United States for economics and finance courses are found there, making it one of the most popular places for overseas students interested in pursuing an economics degree. Students from all around the world come to Elite Universities.
The following are some of the best economics schools in the United States and their QS World Ranking rankings for 2023.
|
Rank |
University |
|
1 |
Harvard University |
|
2 |
Massachusetts Institute of Technology |
|
3 |
Stanford University |
|
4 |
University of Chicago |
|
6 |
University of California – Berkeley |
|
5 |
Princeton University |
|
8 |
Yale University |
|
11 |
New York University (NYU) |
|
10 |
Columbia University |
|
13 |
University of Pennsylvania |
|
14 |
The University of California, Los Angeles (UCLA) |
|
14 |
Northwestern University |
|
19 |
University of California, San Diego |
|
21 |
Duke University |
|
25 |
University of Michigan-Ann Arbor |
|
27 |
Boston University |
|
27 |
Cornell University |
|
Talk to an ExpertTop Economics University in the USA: Bachelor of Economics
A bachelor's degree in economics offers students a basic understanding of modern economics, including its operation, price determination of goods and services, employment, income, etc. Agriculture, natural resources, the environment, business economics, economic history, economic development, financial economics, health, and education economics are just a few topics covered in a bachelor's degree in economics in the USA.
Students generally use a BA in economics degree to pursue professional degrees in business, law, or a PhD program for a research career in economics.
A bachelor's degree can lead to various job prospects, a master's degree and research. It's where social science and mathematics collide. As a result, in economics, students with exceptional math skills shine brightly.
The course duration of a bachelor’s degree is 3-4 years, and the tuition fee ranges from $38,000 to $62,000 per year.
|
University |
Program |
Course Duration |
|
Massachusetts Institute of Technology |
Bachelor in Economics |
4 years |
|
Harvard University |
Bachelor in Economics |
4 years |
|
Stanford University |
Bachelor of Arts in Economics |
4 years |
|
University of California – Berkeley |
Bachelor of Arts in Economics |
4 years |
|
Princeton University |
Bachelor of Arts in Economics |
4 years |
|
University of Chicago |
Bachelor of Arts in Economics |
4 years |
|
Yale University |
Bachelor of Arts in Economics |
4 years |
|
Columbia University |
Bachelor of Arts in Economics |
4 years |
|
The University of California, Los Angeles (UCLA) |
Bachelor of Arts in Economics |
4 years |
|
University of Pennsylvania |
Bachelor of Arts in Economics |
4 years |
Documents Required:
- High school transcript
- School reports
- Letter of Recommendations
- SAT/ACT scores (Optional for some universities)
Academic Requirement:
- A high school degree
English Language Requirement:
- A TOEFL score of 90 to 100 overall, with at least 20 in each section
- An IELTS score of 7.0 overall with at least 6.5 in each section
- A DUOLINGO score of 120 – 130.
Top Economics University in the USA: Bachelor of Economics (Tuition Fee)
|
University |
Tuition Fee |
|
Massachusetts Institute of Technology |
$55,510 (27,755*2) |
|
Harvard University |
$54,768 |
|
Stanford University |
$40,050 |
|
University of California – Berkeley |
$44,008 |
|
Princeton University |
$57,410 |
|
University of Chicago |
$59,256 |
|
Yale University |
$62,250 |
|
Columbia University |
$57,734 |
|
University of California, Los Angeles (UCLA) |
$42,217 |
|
University of Pennsylvania |
$38,732 |
Top Economics University in the USA: Master of Economics
A master's degree in Economics offers working professional recent graduates opportunities to specialize in a particular field of Economics. However, some universities offer a master's program in economics only as an add-on program for a PhD.
In the United States, a master's degree in economics is typically a two-year program that costs approximately USD 120,000. MS in economics is available in the United States at some of the world's best universities.
The following subjects make up the core course structure: Econometrics, Macro and Microeconomics, Developmental Economics, Financial Economics, Game Theory, and Interpretational Economics are some of the fields of economics that are studied.
Students who get this degree can expect to earn a rewarding job with an average salary of up to 200,000 USD. The degree qualifies you to pursue a PhD in the United States, which can pay up to 25% more than your current wage.
The course duration of a master's program is 9 months to 2 years, and the tuition fee ranges from 25,000 to $77,000 per year.
|
University |
Program |
Course Duration |
|
Massachusetts Institute of Technology |
Master of Applied Science in Data, Economics, and Development Policy |
2 years |
|
Stanford University |
Master of Arts in Economics |
1.5 – 2 years |
|
University of Chicago |
Master of Arts in Economics |
2 years |
|
Columbia University |
Master of Arts in Economics |
1.5 – 2 years |
|
University of California, Los Angeles (UCLA) |
Master in Quantitative Economics |
9 – 18 months |
|
New York University (NYU) |
Master of Arts in Economics |
1.5 - 2 years |
|
University of Michigan-Ann Arbor |
Master Arts in Applied Economics |
1.5 years |
Document Required:
- Statement of Purpose
- Resume
- Transcripts
- English Language Test Scores
- GRE scores
- Letter of Recommendation
Academic Requirement:
- Generally, a bachelor’s degree in any field with a minimum score of 3.0 out of 4.0 is required
English Language Requirement:
- A TOEFL score of 85 to 100
- AN IELTS score of 7.0 to 7.5 overall
Top Economics University in the USA: Master of Economics (Tuition Fee)
|
University |
Tuition Fee |
|
Massachusetts Institute of Technology |
$55,510 |
|
Stanford University |
$40,000 |
|
University of Chicago |
$60,300 |
|
Columbia University |
$77,180 |
|
University of California, Los Angeles (UCLA) |
$32,858 |
|
New York University (NYU) |
$35,982 |
|
University of Michigan-Ann Arbor |
$25,068 |
Top Economics University in the USA: PhD in Economics
The PhD program in Economics in the USA is designed for students with exceptional potential who want to prepare for professions in academia, such as teaching and research, or positions of responsibility in government, research organizations, or businesses.
The course duration is between 4 to 6 years, and the tuition fee for the program ranges from $26,000 to $66,000 per year in the top economics schools in the USA. However, generally admitted students are fully funded through different financial aid opportunities.
|
University |
Program |
Course Duration |
|
Harvard University |
Ph.D. in Economics |
4 – 6 years |
|
Stanford University |
Ph.D. in Economics |
4 – 6 years |
|
University of California – Berkeley |
Ph.D. in Economics |
4 – 6 years |
|
Princeton University |
Ph.D. in Economics |
4 – 6 years |
|
University of Chicago |
Ph.D. in Economics |
4 – 6 years |
|
Columbia University |
Ph.D. in Economics |
4 – 6 years |
|
University of California, Los Angeles (UCLA) |
Ph.D. in Economics |
4 – 6 years |
|
University of Pennsylvania |
Ph.D. in Economics |
4 – 6 years |
|
New York University (NYU) |
Ph.D. in Economics |
4 – 6 years |
Document Required:
- Statement of Purpose
- Resume
- Transcripts
- English Language Test Scores
- GRE scores
- Letter of Recommendation
- Writing Samples
Academic Requirement:
- A bachelor’s or a master’s degree in a relevant field from a recognized institution with a minimum score of 3.0 out of 4.0
English Language Requirement:
- A TOEFL score of 85 to 100
- AN IELTS score of 7.0 to 7.5 overall
Research Experience:
Applicants of a doctoral program are required to demonstrate research ability/experience. This can be done through research assistantship experience, in which case a letter from the professor demonstrating the applicant's research ability is required. Research experience can also be demonstrated through independent research, published papers, or professional research.
Top Economics University in the USA: PhD in Economics (Tuition Fee)
|
University |
Tuition Fee |
|
Harvard University |
$52,456 |
|
Stanford University |
$54,315 |
|
University of California – Berkeley |
$28,884 ($14,442*2) |
|
Princeton University |
$57,410 |
|
University of Chicago |
$66,096 (Year 1-4, three quarters) |
|
Columbia University |
$50,496 ($25,248*2) |
|
University of California, Los Angeles (UCLA) |
$32,858 |
|
University of Pennsylvania |
$38,732 |
|
New York University (NYU) |
$35,982 |
|
Top Economics University in the USA: Scholarship
If your budget is not adequately prepared, studying in the US can burn a hole in your pocket. To minimize this burden, students are advised to apply for the scholarships available to overseas applicants. International students studying in the United States have several financial possibilities.
Some scholarships awarded to international students in US universities are listed below.
Top Economics University in the USA: Job Scopes
Graduates with a bachelor of arts in economics degree often go for a professional degree in law or business or a higher-level research degree. However, they are also hired for different roles in public, private, or government offices.
Business analyst, policy analyst, operations manager, management consultant, etc., are some roles assumed by a graduate with an Economics degree.
The average salary for a degree in economics in the USA is about $80,000 per year.
|
Role |
Range of Salary |
Average Salary |
|
Data Analyst |
$45,000 - $86,000 |
$62,609 |
|
Financial Analyst |
$49,000 - $82,000 |
$63,562 |
|
Management Consultant |
$60,000 - $126,000 |
$87,143 |
|
Research Analyst |
$43,000 - $78,000 |
$56,616 |
|
Operations Manager |
$47,000 - $110,000 |
$72,751 |
|
Business Analyst |
$48,000 - $82,000 |
$62,564 |
|
Finance Manager |
$68,000 - $133,000 |
$102,800 |
|
Finance Director |
$86,000 - $174,000 |
$130,921 |
|
Investment Analyst |
$48,000 - $92,000 |
$65,027 |
|
Executive Director |
$52,000 - $208,000 |
$100,671 |
|
Financial Controller |
$60,000 - $130,000 |
$88,268 |
Top Hiring Companies for Economists in the USA:
- Amazon
- RTI International
- Fannie Mae
- The World Bank
- IMF
- US Bureau of Labor Statistics
- Moody’s Analytics
- US Department of Treasury
- HIS Markit
- Federal Reserve Board
