A master’s degree in Economics is a great way to learn how to use economic principles to solve practical problems. There are also many job opportunities available for those who have completed a master’s program in this field of study. That’s why this article centers on the best masters in economics programs you will find.
In this article, we will show you the benefits of studying a master’s program in Economics as well as what programs are available for you to study.
Table of Contents
Overview
A master’s degree in economics is a highly specialized program that develops your expertise in the fundamental principles, theories, and concepts of economics. This course is designed for students who have already completed their undergraduate studies but want to gain more knowledge about this field.
The benefits of getting a master’s degree in Economics include:
- Gaining advanced knowledge about different economic fields such as macroeconomics and microeconomics.
- Preparing students for careers in business administration, finance, or public policy analysis.
If you are interested in pursuing further studies after completing your bachelor’s degree, then consider getting a master’s degree in Economics.Â
Benefits of Having a Master’s Degree
- You will have a wider range of career options.
- You can work in a variety of fields.
- You can work in a variety of industries.
- You can work in a variety of roles.
- You can work in a variety of locations (local, national, and international).
- You can be part of an organization that offers many different opportunities for growth and development within its structure and mission statement as well as within the larger economy or industry it serves or supports.
Career Opportunities in Economics
Economics is a field of study that deals with the production, distribution, and consumption of goods and services. Economists work in government, the private sector, and academia. They may be employed as financial analysts or market researchers.
Professional economists are also involved in many other areas of business. For example:
- Marketing: A professional economist often works as an economic advisor for a company’s marketing division by helping to develop optimal pricing strategies for goods or services. They can also help establish advertising campaigns based on current economic trends and statistics.
- Management: Economists are sometimes hired by companies to evaluate management decisions such as wage increases or cost-cutting measures by analyzing quantitative data from available sources such as historical sales figures or survey results collected from customers who use their products regularly.
List of 25 Top Schools With the Best Masters in Economics Programs
We’ve compiled a list of 25 schools with the best economics programs. Each of these schools has been well-researched and is confirmed to have the best Master in Economics programs.
Here are 25 top schools with the best master’s programs:
- Stanford University
- Duke University
- New York University
- The University of Texas at Austin
- John Hopkins University
- University of Illinois
- George Institute of Technology
- Georgetown University
- North Carolina State University
- Tufts University
- University of Wisconsin – Madison
- Cornell University
- University of California – Los Angeles
- University of Minnesota
- University of Maryland
- Boston University
- University of Southern California
- University of Michigan
- Stony Brook University
- Columbia University
- Texas A&M University
- Lehigh University
- The George Washington University
- The University of Utah
- George Mason University.
25 Best Masters in Economics Programs
1. Stanford University
About the school: Stanford University is a private research university located in Stanford, California. It was founded in 1891 by Leland and Jane Stanford as a memorial to their only child, Leland Stanford Jr., who had died of typhoid fever at age 15 the previous year.
Stanford is one of five schools where you can earn an MBA with no GMAT required (the others are Harvard Business School, Kellogg School at Northwestern University, Haas School at UC Berkeley, and Tepper School at Carnegie Mellon University).
About the program: The Master of Arts in Economics program at Stanford University offers a rigorous curriculum that will prepare you for a career in academia, business, or policy. You’ll have access to world-class faculty and resources, including state-of-the-art classrooms and labs, as well as a wealth of opportunities to build your professional network—including with other students in the program who come from all over the world.
Tuition fee: $36,720 – $56,487
2. Duke University
About the school: Duke University is a private research university located in Durham, North Carolina. Founded by Methodists and Quakers in the present-day town of Trinity in 1838, the school moved to Durham in 1892.
Duke’s campus spans over 8,600 acres on three contiguous campuses in Durham as well as a marine lab in Beaufort.Â
About the program: Duke University’s Master of Economics program is designed to prepare students for careers in economics and related fields. The program offers a rigorous curriculum that combines theory and practice, with a focus on developing analytical skills, quantitative analysis, and data analysis. Students are also prepared to pursue doctoral studies.
Tuition fee: $30,110
3. New York University
About the school: New York University is a private, nonsectarian research university. It is located in New York City, United States. It has over 100 majors, so it’s possible that you will find your perfect fit at NYU.
NYU has a very strong international focus and is one of the top schools for international studies. The school also has a strong liberal arts focus and offers interdisciplinary programs like Comparative Literature and Politics & Society.
About the program: New York University’s Master’s in Economics program is a great way to make an impact in the world. You’ll learn how economic principles affect businesses, policy, and social issues in the real world.
The program is designed for students who want to pursue careers in finance, business analytics, economic research, or public policy. It can also prepare you for further education in economics or related fields like political science or law.
You’ll be taught by faculty who are experts in their field, so you’ll get a top-notch education from a school that’s consistently ranked among the best in the country.
Tuition fee: $23,304 – $31,072Â
4. The University of Texas at Austin
About the school: The University of Texas at Austin is one of the most prestigious research universities in the United States. It is home to over 50,000 students, including about 6,000 graduate students who study in 100 different fields across a variety of disciplines. It offers online Ph.D. programs through its Graduate School of Business.Â
About the program: The University of Texas at Austin offers a Master’s in Economics that can help you develop the skills and knowledge needed to pursue a career in business or public policy.
The program is designed for students who want to improve their analytical skills and learn the tools used by economists in their work. It will also prepare you for jobs such as economic policy analyst, financial analyst, or business manager.
UT Austin’s Master’s in Economics will:
- Teach you how to analyze data and make decisions based on that information.
- Help you understand how organizations function, including government agencies and international organizations.
- Help you develop an understanding of macroeconomics, microeconomics, and econometrics.
Tuition fee: $31,500 – $42,000Â
5. John Hopkins University
About the school: Johns Hopkins University is a private research university in Baltimore, Maryland. The university is named after its first benefactor, the American entrepreneur, abolitionist, and philanthropist Johns Hopkins.
It has an enrollment of over 19000 students across all campuses. It offers 100 majors at its various schools and colleges. The most popular majors include economics, business administration & management, political science & government (international relations), accounting & finance (general information systems), and history.
About the program: The Master of Finance program at Johns Hopkins University is a well-rounded, challenging, and rewarding experience.
The program offers you a broad foundation in finance and management, as well as opportunities to specialize in areas such as quantitative analysis, corporate finance, financial engineering and risk management, financial markets and institutions, or international finance.
The program also prepares you for careers in investment banking, equity research and trading, hedge funds, venture capital firms, private equity funds, and asset management companies.
Tuition fee: $5,060 per course.
6. University of Illinois
About the school: The University of Illinois at Urbana-Champaign has a well-established reputation as one of the top public universities in the country. The school is also home to 12 academic divisions, including a School of Business and an Economics Department.Â
About the program: A Master’s in Economics at the University of Illinois with a concentration in Public Policy or Statistics will give you excellent training to pursue careers in such areas as business, law, government service, or finance.
Tuition fee: $45,023
7. Georgia Institute of Technology
About the school: Georgia Institute of Technology, often referred to as Georgia Tech, is an American public research university in Atlanta, Georgia. It was founded in 1885 as the Georgia School of Technology as part of Reconstruction plans to build an industrial economy in the post-Civil War Southern United States.
About the program: The Master of Finance program at Georgia Institute of Technology is a unique, innovative program that combines both business and technical disciplines to help you develop the skills needed to succeed in today’s financial markets. You’ll learn from top faculty and participate in a global network of professionals.Â
Tuition fee: $36,450
8. Georgetown University
About the school: Georgetown University is a private research university in Washington, D.C. The school was founded in 1789 by John Carroll, the first Catholic bishop in the United States and Georgetown has remained under Jesuit control since its founding.
Georgetown offers a wide range of degree programs including business, law, international relations, and public policy at both the undergraduate and graduate levels.
About the program: The Master of Finance program at Georgetown University is one of the best in the country. The curriculum combines rigorous coursework in finance with a variety of electives, including courses on corporate governance, quantitative methods, and security analysis.Â
Students also have the chance to take part in an internship program that gives them real-world experience before they graduate.
Tuition fee: $59,895
9. North Carolina State University
About the school: North Carolina State University is a public research university located in Raleigh, North Carolina. It is part of the University of North Carolina system.
About the program: The online Master of Finance program at North Carolina State University is designed to prepare students for careers in the financial industry. It offers an opportunity to develop your skills as a financial analyst, trader, or portfolio manager and understand the tools, techniques, and technologies used by leading financial firms.Â
The curriculum covers advanced topics such as financial mathematics, derivatives pricing models, option pricing models, portfolio management strategies, corporate finance applications, and quantitative trading.
Tuition fee: Estimated at $30,906.
10. Tufts University
About the school: Tufts University is a private research university located in Medford, Massachusetts. Tufts University was founded in 1852 as a non-sectarian institution by Universalist Church clergymen. The university offers over 350 undergraduate courses and 90 graduate programs across its nine schools.
About the program: The Masters in Economics program at Tufts University is a comprehensive, rigorous, and research-oriented degree that will prepare you for a career in economics. The program provides students with the tools to engage with economic theory and apply it to real-world problems. The program consists of four semesters of full-time study: two semesters of coursework and two semesters of research.
The curriculum includes courses in microeconomics, macroeconomics, econometrics, financial economics, industrial organization, labor economics, and public policy. The curriculum also includes a semester-long course on quantitative methods (mathematical statistics).Â
In addition to coursework, students have the opportunity to participate in capstone research projects under the guidance of faculty members or mentors from industry or government agencies.
Tuition fee: $54,196 (full program fee).
11. University of Wisconsin-Madison
About the school: The University of Wisconsin-Madison is a public research university in Madison, Wisconsin. The university has been ranked as one of the top 10 universities in the United States and is considered to be one of the most prestigious universities in the world. It has over 42,000 students from around the world.
About the program: The Masters in Economics program at the University of Wisconsin-Madison is designed to provide a rigorous and flexible education that enables students to develop the skills they need to succeed in their future careers. The curriculum is designed to prepare graduates for careers in government, nonprofits, and business as well as for further study in economics.
Tuition fee: $2,000 per credit.
12. Cornell University
About the school: Cornell University is a private Ivy League university located in Ithaca, New York. It was founded as a federal land-grant institution with a mission of teaching and research. Today, it has 14 schools and colleges, including its veterinary school.
The university offers more than 70 undergraduate majors and 120 graduate degree programs to over 23,000 students annually.
About the program: The Masters in Economics program at Cornell University is designed to help you develop the analytical, conceptual, and quantitative skills needed to excel in the field of economics.Â
With a focus on macroeconomics and microeconomics, you’ll learn how to apply economic theory to real-world problems. You’ll also get hands-on experience with statistical analysis, which can help prepare you for a job in economics or for graduate school.
Tuition fee: $20,800
13. University of California-Los Angeles (UCLA)
About the school: The UCLA Anderson School of Management offers a Master of Science in Economics to students who have already earned a bachelor’s degree in any field.Â
About the program: The program provides students with training in both microeconomics and macroeconomics, as well as the tools needed to analyze economic concepts from a variety of perspectives.
Tuition fee: $18,136 – $33,238
14. University of Minnesota
About the school: The University of Minnesota is ranked as a top public university in the U.S. The university offers several master’s degree programs in economics, including a Master of Arts (M.A.) in Economics with an emphasis on macroeconomics or microeconomics; a Master of Science (M.Sc.) in agricultural economics; a Master of Public Policy (MPP) with an emphasis on applied econometrics and quantitative methods; and several other options for students who want to further their education beyond their bachelor’s degree but aren’t yet ready for doctoral studies at this point in their careers.
About the program: The University of Minnesota’s Masters in Economics program provides students with a solid theoretical foundation in economics, along with the skills needed to apply that knowledge in the real world. The program focuses on economic theory and its applications, as well as on quantitative methods and statistics.
Tuition fee: $21,400
15. University of Maryland
About the school: Students at the University of Maryland, College Park have a variety of opportunities to develop knowledge in economics.
About the program: Students can choose from five different master’s degrees with an emphasis in economics: Masters in Economics, Master in Public Policy (MPP), Master in Quantitative Economics, Master in International Economics & Finance, and a dual degree program with the School of Business Administration (MBA) where students earn both an MBA and Master’s Degree with an emphasis on Public Policy.Â
The curriculum is designed to be flexible so that students can customize their degrees based on their interests while also taking advantage of research opportunities through internships or study abroad programs.
Tuition fee: $45,000
16. Boston University
About the school: Boston University is a private research university in Boston, Massachusetts. The university is nonsectarian but has historically been considered a “non-sectarian” school. It is one of the oldest universities in the United States, with its founding in 1839.
About the program: The Master of Economics program at Boston University is an intensive, two-year course of study that prepares you to pursue a career in the field. The program is designed for students who have already completed a bachelor’s degree in economics or a related field.
The program is flexible and can be completed online or on campus. It offers a wide range of classes, including those in econometrics, financial economics, international economics and development, and macroeconomics. You’ll also have the opportunity to develop your skills through a practicum course that allows you to work with professionals in the field.
Tuition fee: $68,924
17. University of Southern California
About the school: The University of Southern California is a private research university located in Los Angeles, California. It was founded in 1880 as the Southern California Institute for the Education of Teachers and renamed to its current name in 1921. USC has historically educated a large number of the region’s business leaders and professionals.
About the program: The Master of Economics program at the University of Southern California is a one-year program designed to give you a broad understanding of economics and finance. You’ll be able to choose between two tracks: financial markets or economic policy.
Tuition fee: $51,288
18. University of Michigan
About the school: The University of Michigan is one of the top universities in the country, with a reputation for innovation and excellence. It was founded in 1817 as the first public university in the U.S., and today it boasts a student body of over 43,000 students from all 50 states and more than 130 countries.
About the program: The Master of Economics program at the University of Michigan is a highly selective, rigorous, and challenging program that is designed to prepare students for careers in academia and public policy.
The Master of Economics (M.Econ.) degree program is administered by the Department of Economics within the College of Literature, Science, and the Arts (LSA). The Department offers courses in macroeconomics, microeconomics, econometrics, industrial organization, and strategy.Â
The curriculum provides an opportunity for students to acquire knowledge of advanced economic theory and quantitative methods while also developing skills in research design and analysis.
Tuition fee: $25,884 (resident) and $50,800 (international students).
19. Stony Brook University
About the school: Stony Brook University is a public research university in Stony Brook, New York. It is part of the State University of New York (SUNY) system and has an enrollment of approximately 50,000 students across six colleges.
About the program: The Master of Economics program at Stony Brook University is a great way to build on your undergraduate education, and it’s also a great launching pad for careers in business, government, and non-profit organizations.
The program is designed to help you develop the skills and knowledge you need to succeed in the field of economics. You’ll learn how to use economic theory to analyze real-world problems and make informed decisions that improve people’s lives.Â
Tuition fee: $471 per credit.
20. Columbia University
About the school: Columbia University is a world-class institution of higher education and research. Founded in 1754, Columbia has grown to become one of the premier universities in the world. It is a member of the Ivy League and is consistently ranked as one of the top five universities in America.
About the program: The Master of Economics program at Columbia University is a comprehensive program that prepares students to be future leaders in economics. The M.E. degree is a terminal degree for those who wish to pursue careers in academia, research, or business.Â
The program provides students with an opportunity to develop expertise in their chosen area of specialization and acquire skills necessary for success in their future endeavors.
Tuition fee: Estimated at over $80,000 per year.
21. Texas A&M University
About the school: Texas A&M University is a public research university located in College Station, Texas. Founded in 1876 as the Agricultural and Mechanical College of Texas, the university is now one of the largest in the United States.
About the program: The Master of Economics (M.Econ.) program at Texas A&M University is a great way to get started on your journey toward becoming a successful economist. The program is designed to be flexible and convenient, allowing you to complete your coursework online or in person.
Tuition fee: $39,072
22. Lehigh University
About the school: Lehigh University is a private, coeducational, nonsectarian research university located in Bethlehem, Pennsylvania. It was established by industrialists to provide engineering and technical training to students. The university is home to multiple undergraduate and graduate programs in business, engineering, liberal arts, science, and education.
About the program: Lehigh University’s Master of Economics program is designed to help students develop the skills necessary to succeed in a wide range of careers.
The program combines rigorous coursework with hands-on learning opportunities that can help you prepare for a career in research and data analysis, education, business, or government.
You’ll learn how to use quantitative methods to solve real-world problems, so you can analyze economic data and make informed decisions about resource allocation and policy.
Tuition fee: $22,530
23. George Washington University
About the school: George Washington University is a private, coeducational research university located in Washington, D.C. The University was created to address the need to educate politicians, statesmen, and civil servants for the government of the newly formed United States of America.
About the program: If you’re looking for a Master of Economics degree program that will give you the tools to succeed in your career, look no further than George Washington University.
The school’s Master of Applied Economics program is designed to help students gain a solid understanding of the fundamentals of economics and prepare them for advanced study in the field. Students can choose from four specializations: Financial Economics; International Economics; Macroeconomics; and Microeconomics.
Tuition fee: $1,995 per credit.
24. University of Utah
About the school: The University of Utah is a public research university that was founded in 1850. It is the flagship institution of the state’s higher education system and has an enrollment of over 10,000 students each year.
About the program: The Master of Economics program at the University of Utah is designed for students who want to pursue careers in economic analysis, research, and policy-making. The one-year program provides a rigorous academic foundation in economics, as well as practical skills needed to succeed in the field.Â
The program emphasizes economic theory, quantitative methods, macroeconomics and microeconomics, econometrics, and applied economics. Students may also choose to focus their studies on one of three areas: financial economics; industrial organization; or macroeconomic policy.
Tuition fees: $8,068 (local students) and $25,705 (international students).
25. George Mason University
About the school: George Mason University offers more than 100 degree-granting programs across its nine colleges and schools. The university is known for its programs in economics, law, business, engineering, and public policy; it also offers a variety of liberal arts degrees including English, history, and foreign languages.Â
About the program: The online Master of Economics program at George Mason University is one of the most exciting and dynamic economics programs in the country. Their curriculum is designed to give students a broad understanding of economic principles, including micro- and macroeconomics.Â
You’ll learn from faculty who are experts in their fields, as well as from guest speakers who are leaders in their respective industries. Students take part in an internship process that helps them develop their professional skills while gaining experience in their field.
Tuition fee: $900 per credit hour.
FAQs
How long does a master’s program last?
A master’s program lasts one to two years, depending on the program.
What is the cost of a master’s program?
The cost of a master's program depends on the school and your financial situation. Some schools offer need-based aid, and some schools have scholarships for students who meet specific requirements.
What kind of jobs can you get with a master's in economics?
With a master's in economics, you can get a job as a researcher, a professor, an economist for the government, or for a non-profit organization. You can also work as a business consultant or financial analyst.
What are some of the best schools for a master's in economics?
If you want to get a master's in economics, you should look at some of the best schools for a master's in economics. Here are some options: Stanford University, Boston University, University of Pennsylvania, Columbia University, Duke University, and many other schools on our list.
What is the difference between a Master's and a Ph.D. in economics?
The difference between a Master's and a Ph.D. in economics is that the latter is more involved with original research than the former. A Ph.D. program typically lasts for 4 years, and during that time, you'll be expected to complete an original research project. A Master's program takes about 2 years to complete, and it focuses on teaching you how to apply economic principles to real-world problems through coursework and projects.
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Wrapping It Up
We hope that this guide has helped you to find the best master’s programs in economics for your needs. If you are still unsure about what program is the best one for you, we recommend talking with an admissions counselor at any of these schools or even checking out their websites. It is important to do your research so that you can make an informed decision about where it would be most beneficial for you to pursue a Master’s degree in Economics. Good luck.