Economics colleges in USA cover major elements like mathematics, microeconomics, macroeconomics, econometrics, statistical analysis, and financial economics in the curriculum. According to QS Ranking 2022, 25 economics colleges in USA were included in the top 100 universities of the world. Number of jobs added for people with the typical qualification of Masters in Economics in USA is expected to be 2,900 by 2029.
- Average pay of an economics graduate in USA is 105,020 USD (87.1 L INR) per year as per the Bureau of Labor Statistics.
- According to BLS, the salary for economists is expected to increase by around 8% by 2026 with the industry witnessing 14% growth from 2019-2029.
- USA is home to 7 out of the top 10 global universities according to QS Ranking 2022 and about 7.8% of international students study social sciences in the USA.
Best Economics Colleges in USA
| University Name | QS Global Rankings 2023 | Tuition Fees (USD) |
|---|---|---|
| Harvard University | 1 | 60,761 |
| Massachusetts Institute of Technology (MIT) | 2 | 82,314 |
| Stanford University | 3 | 61,398 |
| University of Chicago | 4 | 67,779 |
| University of California, Berkeley (UCB) | 5 | 23,778 |
| Princeton University | 7 | 57,570 |
| Yale University | 8 | 68,831 |
| New York University | 11 | 35,801 |
| Columbia University | 12 | 57,402 |
| University of Pennsylvania | 13 | 65,274 |
Other Economics Colleges in USA
| University Name | QS Global Rankings 2023 | Tuition Fees (USD) |
|---|---|---|
| University of California - Los Angeles | 14 | 17,304 |
| Northwestern University | 15 | 44,016 |
| Duke University | 21 | 63,873 |
| University of Michigan- Ann Arbor | 21 | 58,880 |
| Cornell University | 29 | 62,465 |
| Carnegie Mellon University | 46 | 61,165 |
| University of Texas- Austin | 58 | 50,354 |
| Texas A&M University | 97 | 45,645 |
| Ohio State University | 99 | 47,639 |
| University of Illinois– Urbana– Champaign | 106 | 32,545 |
Economics Colleges in USA for Undergraduate Programs
| University Name | Tuition Fees (USD) | Tuition Fees (INR) |
|---|---|---|
| Harvard University | 60,761 | 50.34 L |
| Massachusetts Institute of Technology (MIT) | 82,314 | 68.2 L |
| Stanford University | 61,398 | 50.87 L |
| University of Chicago | 67,779 | 56.15 L |
| University of California, Berkeley (UCB) | 23,778 | 19.7 L |
Economics Colleges in USA for Doctorate Programs
| University Name | Tuition Fees (USD) | Tuition Fees (USD) |
|---|---|---|
| Princeton University | 62,570 | 51.84 L |
| Yale University | 44,500 | 36.87 L |
| New York University | 58,862 | 48.7 L |
| Columbia University | 57,402 | 47.5 L |
| University of Pennsylvania | 43,832 | 36.31 L |
Economics Colleges in USA: Admission Requirements
Harvard University
- Applicants should have an understanding of economics and have taken at least some economics courses beyond the principles level.
- Applicants should be able to demonstrate their ability to do research by either having done research previously or via experience as a research assistant.
- English Proficiency Test Scores: TOEFL: 80 or above
- Statement of Purpose
- Resume
- GRE is not required for admission
Massachusetts Institute of Technology
- Applicants must hold a bachelor's degree.
- Applicants should have one full year of college mathematics and professional subjects in economics
- Statement of Purpose
- Resume
- Three Letter of Recommendation
Stanford University
- Applicants must hold the equivalent of a U.S. bachelor’s degree from a college or university of recognized standing.
- The Economics Department does not require and does not consider GRE scores for 2023-24 admission.
- Statement of Purpose
- Resume
- Three strong letters of recommendation
Princeton University
- Applicants must have passed 12th and are expected to study the following subjects: Four years of English (including continued practice in writing) Four years of mathematics.
- Strong prior knowledge of the field, mathematical aptitude, and work experience is recommended.
- English Proficiency Test Scores: IELTS 6.5 | TOEFL: 90 or above
- Resume
- Statement of Purpose
University of Chicago
- a transcript with two quarters of grades from MAPSS or MACSS.
- Candidates should prove strong math skills, relevant work experience, and basic computer programming skills.
- at least one letter of recommendation from one of the tenured-track faculty.
- Updated Resume
- Statement of Purpose
- Letter of Recommendation
How to choose Universities?
There are more than 3500 universities in USA, so it is a tough task to select the right university. You need to extensively research the university’s ranking, course modules, and fees for the course. There are certain tools which recommend universities according to your profile, like the Grad School Finder (GSF). After the shortlisted universities, try to analyze how much is the return of investment, including, rankings, job opportunities, fees, course structure, research opportunities, etc. After that, use tools like University Comparer, to have comparison between universities shortlisted. Before finalizing, look at your budget, and the location of the university, and the student profiles of students who graduated to give an idea on how the career of the students who graduated from the university of your choice were.
FAQs
Ques. Is Economics a STEM-degree in USA?
Ans.The Department of Economics submitted applications to change the CIP codes for the BA and BS majors. The applications were recently approved and Economics is now designated as a science, technology, engineering and mathematics (STEM) discipline.
Ques.How much does it cost to study Economics courses in USA?
Ans.A master's degree takes 1.5-2 years to complete and costs 24,000 USD – 62,000 USD (19.8 L INR - 51.36 L INR) per year. A bachelor's degree in the field can take two-four years and cost 9,000 USD - 35,000 USD (7.45 L INR- 28.9 L INR) a year. A PhD in Economics can take three-five years and cost between 28,000 USD and 40,000 USD (23.19 L INR and 33.14 L INR) per year.
Ques.Are Scholarships available for international students?
Ans.Yes, each university offers financial assistance for the need- based students. You must check the portal of the university to verify your eligibility.
Ques.What is the average salary for economics graduates in USA?
Ans.Average pay of an economics graduate in USA is 105,020 USD (87.1 L INR) per year as per the Bureau of Labor Statistics.
Ques.Can Indian students work in the USA after completing their studies?
Ans. A STEM certified MS economics program will allow international students to avail the 24 months OPT extension in addition to the 12 months OPT tenure.
Found 652 universities
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