More than 418 colleges in USA offer a degree in Economics, with the availability of so many options finding the best choice can be difficult. Studying abroad at top economics colleges in USA will give international students an idea about economic theory and principles, mathematics, economic models and methods of analysis. Students also learn about the practical tools and implementations of economics like tax structure, statistical analysis, etc. If you are an international student, trying to narrow down economics colleges to study abroad in USA, here is the curated list for the same.
The USA is one of the most famous destinations for international students wanting to pursue an economics degree because most of the top universities in USA for economics and finance courses are situated there. The Ivy League colleges attract students from around the globe. Here are some of the top economics colleges in the USA and their rankings according to QS World Rankings, 2020.
|Harvard University||1||2 Bachelor,1 doctorate course|
|Massachusetts Institute of Technology (MIT)||2||2 bachelor, 1 master, 3 doctorate courses|
|Stanford University||3||1 Bachelor, 3 Doctorate courses|
|University of California, Berkeley (UC Berkeley)||4||Ph.D. course|
|Princeton University||5||Bachelor and Doctorate Courses|
|University of Chicago||7||Bachelor, Master, 3 doctorate courses|
|Yale University||8||3 Bachelor, 1 master course|
|Columbia University||11||5 bachelor, 6 masters course|
There are around 784 universities in the USA offering degrees in economics at various study levels. At the bachelor level, economics colleges offer a BA (Bachelor of Arts) or a BSc (Bachelor of Science) degree. A MA (Master of Arts) and MSc (Master of Science), MEd ( Master of Education) degree is offered at the graduate level. In the doctorate course, students get a Ph.D. (Doctor of Philosophy) degree.
Economics colleges in the USA offer a diverse range of course modules for students to choose from according to their liking and wishes. Here are some popular specializations:
If a student major in economics, they can experience a big return on investments, provided they have chosen a college that pays them back well. Here are some best value economics colleges in USA that takes typical 4 year to graduate:
|University||20 Year Net ROI||Total 4-year cost||Average Scholarship amount|
|Claremont McKenna College||$1,322,000||$262,000||$23,900|
A bachelor in economics in USA is usually a 3-4 year degree program. A bachelor’s degree leads to various doors of employment, a master’s degree and research opportunities. It is an intersection of social science and mathematics. Hence, students with outstanding skills in mathematics shine high in the field of economics. Some of the top economics universities in USA offering a bachelor degree are tabulated below:
|University||Course offered||Duration (in years)||Annual Fees in USD|
|Harvard University||BA in Economics||3||47,730|
|Massachusetts Institute of Technology (MIT)||BSc in Economics||4||53,450|
|BSc in Mathematical Economics||4||53,450|
|Stanford University||BA in Economics||4||52,848|
|Princeton University||BA in Economics||4||46,758|
|University of Chicago||BA in Economics||4||56,034|
|Colorado State University||BA in Economics||4||30,876|
|Southern Oregon University||BA in economics||4||5,040|
|California State University||BA in Economics||4||2,878|
|BA in Mathematical Economics and Economic Theory||4||2,878|
|BA in Business Economics||4||2,878|
The fees for a bachelor’s degree in economics colleges in the USA range from as low as 3,000 USD per year to as high as around 60,000 USD per year at the top universities. Apart from the tuition fees, international students are required to cover the living expenses in USA.
To support their studies, international students can apply for various undergraduate scholarships in the USA awarded by respective universities or even private agencies and organizations.
Master in economics in USA is usually of 1-2 year duration. It can be considered as a terminal degree as around 65% of graduates get employment after degree. A master’s degree can also be taken as a stepping way for further doctoral studies in economics. Master degree courses are often offered in research-based modules for students wanting to pursue study in the subject. Here are some universities offering master degree programs in economics in the USA:
|University||Course Offered||Duration in years||Annual Fees in USD|
|Stanford University||MA in Economics||2||34,986|
|University of Chicago||MBA in Economics||2||72,000|
|Yale University||MA in International and Development Economics||2||43,300|
|Columbia University||MA in Economics||2||71,108|
|MSc in Financial Economics||60,912|
|MA in Economics and Education||49,050|
|MEd in Economics and Education||49,050|
|California State University||MA in Economics||18 months||3,281|
|Johns Hopkins University||MSc in Applied Economics||1||4,510|
The average fees for masters in economics colleges in the USA range from 3,000 USD to 77,000 USD. The fees vary according to the course structure and the university. Graduate schools in USA demand higher fees due to the popularity and value of the courses.
To fund their studies, international students can apply for various scholarships to study in USA. Other options such as education loans, student employment, etc. are also available.
America’s rigorous approach to graduate study delivers a standard of training and professional development that often surpasses the minimum requirement for a more ‘traditional’ research-focused doctorates in other countries. Hence, there are around 984,898 international students pursuing a Ph.D. in around 1500 colleges in the USA. Ph.D. in economics is a 4-6 year course with students spending 1-4 years on their coursework and 2-4 years working on their dissertation. Here are some of the top universities offering PhD in economics in USA
|University||Course Offered||Duration||Annual Fees in USD|
|Massachusetts Institute of Technology||Ph.D. in Economics||4 years||17,800|
|PhD in Economic Sociology||3 years||NA|
|Harvard University||Ph.D. in Business Economics||5 years||24,004|
|Ph.D. in Political Economy and Government||3 years||51,432|
|Stanford University||Ph.D. in Economics||4 years||52,479|
|Ph.D. in Economic Analysis and Policy||5 years||NA|
|Ph.D. in Political Economics||5 years||NA|
|University of California||Ph.D. in Economics||5 years||32,374|
The average fee for pursuing a Ph.D. in economics in the USA is 18,000- 60,000 USD per year. International students are eligible for various assistantships and fellowships to finance their studies in USA.
According to QS Rankings, USA is the most expensive country for international students to study. But there are various scholarships for international students in USA to fund their studies. There are also Post Doctoral Fellowships provided to students pursuing a Ph.D. in an American university. The scholarships are mostly offered by colleges, the government of the country and by private funding organizations. Here is a list of some popular scholarships you can apply for during your studies at economics colleges in the USA:
|Scholarships||Awarding Committee||Award in USD|
|Hsiao Memorial Economics Scholarship||Asian Pacific Fund||1,000|
|Hubert Humphrey Fellowships||US Government||Full tuition waiver, Accommodation waiver, one side airfare.|
|Mercatus MA Fellowship||George Mason University||80,000|
|American University Emerging Global Leader Scholarship||US Government||6000-25,000|
|Postdoctoral Fellowship||Princeton University||88,800 annually|
|Obama Foundation Scholars’ Program||US Government||Full tuition fee waiver|
|Cornell University Tata Scholarship||Tata Trust||Partial tuition waiver|
|Stanford Reliance Dhirubhai Fellowship||Stanford University||92,638|
|Need-Based Fellowships||Harvard University||37,000|
|UC Global Scholarship||University of Cincinnati||12,000|
After completing a degree from economics colleges in the USA, the top recruiting sectors where most students get recruited are in Universities, Research firms, Banking or Finance industry, Private companies and Think tanks or pressure groups.The US Government also employs economics students at high paying salaries for various administrative and policy-making roles. Here are some of the jobs in USA which international students studying various courses in Economics can apply for:
|Job Title||Average annual salary in USD|
|Financial Analyst||35,100- 118,972|
|Market Research Analyst||28,275- 102,000|
|Budget Analyst||39,400- 119,627|
|Economic Consultant||36,231- 80,451|
|Operations Research Analyst||60,319- 152,352|
|Compensation and Benefits Manager||57,500- 125,000|
|Credit Analyst||30,000- 82,889|
|Management Consultant||42,500- 189,295|
|Financial Manager||72,500- 181,900|
|Investor Relations Associate||17,355- 120,169|
|Research associate||33,150- 136,000|
|Financial Risk Analyst||54,503- 157,250|
|Actuary||65,552 - 225,000|
|Investment Analyst||31,200- 118,890|
The economics courses in the USA are a good investment for the future of international students as USA has a high growth market for graduates. A degree from the USA will also open windows for job prospects in other major countries like the UK, Canada, Australia.
It is one of the top-ranking universities to study business and finance and as I was applying for masters of France, I applied to MIT along with 4-5 other universities (just to be safe). Getting accepted in such a college was not easy, I worked very hard to get in! The selection process is extremely competitive. I applied to the university through the online application portal, the application fee paid by me was $250.
The charges for the 12-month program is different from the 18-month program, as I was pursuing the 18 -months program my annual fee for the program was around $1,12,000. For books and supplies, I had to pay around $3,000 and the computer charges were $2000. It is very expensive! Although the university offers several financial aids like Jim and Sara Anderson Fellowship, Linda Archer Cornfield Fellowship, and many more, not all students can manage to secure one.
I was an engineering graduate and founded a startup company with a couple of my friends before pursuing an MBA. However, that company collapsed after 2 years due to chaos and mismanagement in the operation department. So I decided to do an MBA in business operation. I searched online for a good college and then only I came to know about this college and its popularity. I applied through the university's website and paid a $75 application fee. I was also interviewed by video conference. After one month they mailed me that I was selected.
I have paid nearly $42,700 for this year. Next year's total charge is the same. Total fees include fees for books and supplies, housing, computer and travel. I have to admit that MBA fees in my college are lower than most of the other private MBA programs. Merit-based financial aid, fellowships funded by our university are often endowed to international students. Not only that Scholarships from private organizations are other options for us.