Economics is a thriving field that promises good job opportunities and high salaries for economics degree holders. When you get a degree from one of the best schools for economics, you will be getting a quality education and an added advantage in the labor market. The best economics universities make you respected and your skills trusted in the field.
This article can help you get started as it provides information on some of the best economics schools as well as the highest paying jobs and salaries in the field. At the end of the article, you will be able to choose the best school and economics degree to pursue your dream career.
Best Economics College and University Rankings: Top 10 Economics Schools at a Glance
| School | State | Formats Available | US News Ranking | |
|---|---|---|---|---|
| Colorado State University | CO | In-person, online | #148 | |
| Columbia University | NY | In-person | #2 (tie) | |
| Harvard University | MA | In-person, online | #2 (tie) | |
| Massachusetts Institute of Technology | MA | In-person | #2 (tie) | |
| Oregon State University | OR | In-person, online, hybrid | #162 | |
| Stanford University | CA | In-person | #6 | |
| University of California, Berkeley | CA | In-person | #22 | |
| The University of Chicago | IL | In-person | #6 (tie) | |
| University of Utah | UT | In-person, online | #99 | |
| Yale University | CT | In-person | #5 |
Economics School Rankings: Best Economics Colleges and Universities
The best economics colleges and universities in the US include some world-renowned schools like Harvard University, Columbia University, Massachusetts Institution of Technology, and Yale University. We cover in-depth information on each school and all the school’s economics programs to help you make an informed decision.
The Best Schools for Economics: Types of College Degrees and University Programs Offered
There are different types of college degrees and university programs offered in the best economics colleges. Community college certificates, associate degrees, bachelor’s degrees, master’s degrees, graduate certificates, and doctorates all teach valuable skills in the economics field.
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Comparing Popular Degree Options
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Best Economics Schools: Other Economics University Rankings
The best economics schools depend on the format and education you wish to pursue. We have created the lists below based on their economics university rankings, degree levels, and the degrees they offer.
Best Online Economics Schools
- Florida International University (FIU). Florida International University is a public research university founded in 1965. It offers over 190 degree programs both online and in-person. According to its website, FIU is ranked highly for having some of the best online programs in the country.
- Oregon State University. Oregon State University (OSU) is a public land-grant research university with over 200 undergraduate and 100 graduate programs. The ecampus offers over 1,600 online classes and has over 110 subjects to study. OSU’s economics department is flexible and allows students to study electives in a wide variety of fields.
- Penn State World Campus. Launched in 1998, Penn State World Campus now offers over 175 degree and certificate programs at the undergraduate to graduate levels. Its economics bachelor’s program is nationally recognized by US News & World Report.
Best Community Colleges for Economics
- Alpena Community College. Founded in 1952, Alpena Community College is a public two-year institution. Its Associate of Arts in Economics is perfect to help students meet their career goals and start working immediately in the field.
- CUNY Borough of Manhattan Community College. CUNY Borough of Manhattan Community College is a public two-year college founded in 1963. The Associate of Arts in Economics has transfer agreements with Brooklyn College, City College, and Hunter College. The school offers continuing education and workforce development opportunities.
- Salt Lake Community College. This public community college offers associate degree programs in various fields of study through 10 campuses. Its economics associate degree has a special focus on scarcity and satisfying limited wants in society through economics.
Best Undergraduate Schools for Economics
- Boston University. Founded in 1869, Boston University offers over 300 programs of study through 17 schools and colleges. The BA in Economics equips students with the knowledge and skills that can be applied in the real world and make them professionals in the field.
- Harvard University. Harvard University’s economics department offers both undergraduate and graduate degrees in the field. Its economic programs are perfect for industry professionals who wish to keep working throughout their studies. They can attend part-time, in person, and online.
- University of Michigan. University of Michigan’s undergraduate program prepares students for the economics industry and trains them to conduct independent research. The school offers events to undergraduate economics students to help them network and find professional opportunities.
Best Graduate Schools for Economics
- Northwestern University. Northwestern University was founded in 1851. This highly-ranked university offers graduate degree programs online and in person. It has over 13,000 graduate students and a student-to-faculty ratio of six-to-one. Its PhD in Economics offers teaching assistantships to help students pay for school.
- University of California, Berkeley. UC Berkeley’s doctorate program is designed for students who want to pursue advanced study and conduct original research in the field.
- University of South Carolina. The University of South Carolina is a public research academic institution that offers a wide range of degree programs. Established in 1801, it offers a Master’s Degree in Economics in five different areas of specialization. It also offers a PhD in the field.
Best Economics Schools With Dual Degree Programs
- Boston University | Master of Business Administration (MBA) / Master of Arts (MA) in Economics Dual Degree Program. The MBA+MA in Economics can be completed in five semesters and requires 80 credit hours. The part-time program requires 71 credit hours.
- John Hopkins University | Master of Business Administration / Master of Science (MS) in Applied Economics. This dual degree can be completed in online, in-person, and hybrid formats. The part-time program can be completed in three years and offers eight areas of specialization.
- Stanford University | Master in Public Policy and PhD in Economics. This is a joint degree program that allows students to earn both a Master’s Degree in Public Policy and a PhD in Economics. Prospective students will have to first apply for the PhD program and indicate their interest in the joint degree program.
Best Schools With Accelerated Economics Programs
- Binghampton University SUNY | Accelerated Degree Program in Economics. Students in this program complete a Bachelor of Science with a Specialization in Economics and a Master of Arts in Economics. Completing the programs simultaneously reduces tuition and program length.
- Oregon State University | Accelerated Master’s Platform in Applied Economics. This program allows students to earn a bachelor’s and master’s degree in five years. The bachelor’s degree must be in agricultural and food business management, environmental economics and policy, or a related field.
- The University of Texas at Austin | Master of Arts Economics. This program can be completed in 10 months and does not require an undergraduate degree in economics. Students are expected to have a strong background in quantitative economics.
Easy Colleges to Get Into
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Is Graduate School for Economics Worth It?
Yes, graduate school for economics is worth it. A graduate degree in economics will expose you to a higher level of knowledge in the field, increase your career opportunities, and increase your average earnings. To become a professional economist, you will need to have a minimum of a master’s degree in the field.
What Jobs Can You Do With an Economics Degree?
The jobs you can do with an economics degree are financial manager, economist, loan officer, accountant, economic researcher, and data analyst. According to the Bureau of Labor Statistics (BLS), the job outlook for economists is set to increase by 13 percent in the next eight years.
How Much Can I Earn With a Degree in Economics?
The amount you earn with an economics degree depends on your degree level and job title. According to PayScale, someone with an Associate Degree in Economics earns an average of $60,000 per year while a PhD in Economics holder has an average salary of $110,000.
Highest-Paying Economics Careers
| Profession | Minimum Education | Average Salary |
|---|---|---|
| Financial Manager | Bachelor’s degree | $131,710 |
| Compensation Manager | Bachelor’s degree | $127,530 |
| Actuary | Bachelor’s degree | $105,900 |
| Economist | Master’s degree | $105,630 |
| Statistician | Master’s degree | $95,570 |
| Management Analyst | Bachelor’s degree | $93,000 |
| Product Manager | Bachelor’s degree | $88,660 |
| Quantitative Analyst | Bachelor’s degree | $86,159 |
| Financial Analyst | Bachelor’s degree | $81,410 |
| Market Research Analyst | Bachelor’s degree | $63,920 |
Best Jobs With an Economics Degree
The best jobs with an economics degree are financial manager, compensation manager, actuary, and economist. These high-paying jobs allow students to use all the skills learned in their economics program and make an impact in the field. Below, we will discuss the best jobs in economics for each degree level.
How Can I Pay for Economics School?
You can pay for economics school through scholarships, student loans, grants, work-study, and payment plans. Although these financial aid options are extremely helpful, it is still best to find a program within your price range. Compare your schools of choice before making a final decision.
- Scholarships. A scholarship is awarded to students by merit to cover their tuition and/or expenses. It is one of the best ways to pay for college as it doesn’t require students to pay back the amount. Scholarships can be awarded by the institution, government, or private bodies.
- Student loans. A student loan is borrowed money given to students to cover their tuition, books, living expenses, and other costs. It is usually given by the government or private lenders. Students will have to pay back these loans with interest, depending on different factors.
- Grants. A grant is a form of financial aid given to students based on their financial needs. They vary in amount and are given by the government, private institutions, foundations, or individuals. They are gifted and do not need to be paid back.
- Work-study programs. A work-study program is a federal program that pays for a student’s studies in exchange for working for their company. Work-study allows students to work part-time, earn money, and gain work experience that can benefit their careers.
How to Pay for Your Chosen School Education Path
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Choosing the Best Economics School for You
To choose the best economics school for you, you should consider the school’s reputation, accreditation, cost, payment options, financial aid, curriculum, and graduation rate. The following factors ensure you get your degree and high-quality education.
School Reputation
Going to a school with a good reputation has many benefits. A reputable school attracts only the best faculty, students, and partners. It also builds the trust and confidence of employers in various industries, which means that you have a competitive edge in the job market against your peers.
Accreditation
It is beneficial to go to a school that offers programs that are accredited in their fields. This ensures that you’re getting a high-quality education. It also means that the school meets the requirements in terms of student outcomes. Employers respect accredited schools and may look down on programs that are not.
Cost
You must ensure that you can afford the tuition of your program. Some programs are more affordable than others, and it is pretty common for prestigious institutions to cost more than others. If you prefer a renowned school but are having issues with cost, you can check for possible financial aid options and payment plans.
Curriculum
The program’s curriculum must include relevant courses, topics, and projects that will build and hone in-demand skills in the field. It must be comprehensive and include new trends and policies to prepare you for a career in the field.
Graduation Rate
The school’s graduation rate is an essential factor as it gives you an insight into how many students complete the program. A school with a high graduation rate shows you that the majority of students in the program graduate at their stipulated time. This shows that the program and your career goals are attainable.
How to Get Into the Right School for Your Profession
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Does It Matter What College I Go to for Economics?
Yes, it does matter what college you go to for economics. Going to a college that is not accredited or one that has a bad reputation will not be good for your academic and career goals. You must also consider the specific career path you want and if your program of choice offers the right courses.
Best Online Bachelor’s Degrees
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Economics University Ranking Methodology: How We Ranked the Best Schools for Economics
We ranked the best economics schools by consulting the university rankings conducted by US News & World Report and Times Higher Education. To further refine our economics university ranking methodology, we gave special consideration to things like reputation, graduation rate, student-to-faculty ratio, and breadth and depth of economics degree program offerings.
Additional Reading About Economics
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Best Economics Schools FAQ
The best economics schools in the world are Harvard University, Yale University, Massachusetts Institute of Technology, Columbia University, and Oregon State University. Of course, you must consider your personal and professional goals when choosing an economics school.
The best Ivy League schools for economics are Harvard University, Columbia University, and Yale University. Other schools that are not Ivy League institutions but offer similar academic and research qualities are Stanford University, Northwestern University, University of California, Berkeley, and Johns Hopkins University.
Yes, MIT is good for economics. Massachusetts Institute of Technology is popularly known for having excellent engineering and technology programs. However, they also have other programs equally as great as STEM programs, and economics is one of them.
Yes, an economics degree is worth it. The annual income is relatively high and its job outlook is set to increase, making the economics field promising. Economics degree holders will have a broad range of career opportunities and high salaries.
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