The 10 Best Economics Schools in the World

Best Economics Schools in the World

Best Economics Schools in the World- The adaptability of an economics degree attracts many students. It’s a degree that can lead to a variety of job opportunities. Although most top colleges offer economics degrees, they are not all created equal. With so many possibilities, deciding on the finest economics program might be challenging. We’ve compiled a list of some of the best economics schools around the globe to get you started.

How Did We Rank the Top 10 Economics Schools?

The top 20 institutions in both the 2021 QS World Subject Rankings and the 2021 Times Higher Education World Rankings by Subject of premier economics schools were used to create this ranking. Both lists employ different criteria, therefore we averaged them to get a comprehensive picture of the top 10 economics schools.

The Top 10 Best Schools to Study Economics in the world

Overall Rank University Location QS World Rank THE Rank
1. Massachusetts Institute of Technology (MIT) Cambridge, Massachusetts 1 2
2 Stanford University Stanford, California 3 1
3 Harvard University Cambridge, Massachusetts 2 5
4 Princeton University Princeton, New Jersey 4 NA
5* London School of Economics (LSE) London, United Kingdom 6 7
5* University of Chicago Chicago, Illinois 7 6
5* Oxford University Oxford, United Kingdom 9 4
5* Cambridge University Cambridge, United Kingdom 10 3
9 University of California, Berkeley Berkeley, California 5 9
10 Yale University New Haven, Connecticut 8 8

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Let’s take a look at the top 10 Economics Schools to see whether they’re right for you and what your chances are of getting in!

10 Yale University

New Haven, Connecticut
Yale is one of the best schools for economics. Yale Department of Economics Overview
Tuition Acceptance Rate Economics Degrees Available Median Starting
Salary Undergraduates $60,000/year (USD) ~4.6% Bachelor’s Degree
Master’s Degree Doctorate Degree $81,400 (USD)
About the Yale Department of Economics

The Yale Department of Economics is a thriving network of academics, researchers, and students working together to forecast the future effects of US policies and tackle some of the world’s most serious economic issues.

Students can earn a Bachelor’s degree in Economics or a Bachelor’s degree in Economics and Mathematics after completing this four-year economics program. Furthermore, the institution recently designated all Economics programs as science, technology, engineering, and mathematics (STEM) (STEM).

Students can further study and investigate economics issues that interest them and will help them further their professional aspirations through Yale’s summer or academic year programs. Economics majors spend their senior year researching a topic of their choice for their senior thesis.

The Yale Economics group is close-knit and collaborative. You will collaborate with other students and have numerous opportunities to interact with instructors and professors as part of this program. Peer mentors and teaching assistants are among the tools available through the program. Because the curriculum is varied, you can study things that interest you and learn about new fields of study.

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You can take introductory microeconomics classes to learn more about the program and major if you’re still not sure if an economics major is right for you.

9 University of California, Berkeley

Berkeley, California

UC Berkeley is one of the best schools in the world for economics
Berkeley Economics Program Overview
Tuition Acceptance Rate Economics Degrees Available Median Starting Salary Undergraduates
$30,000/year (USD) ~11.8% Undergraduate (BA)
Graduate (Masters or PhD) $63,000 (USD)
About the Berkeley Economics Program

The Department of Economics at UC Berkeley was founded in 1903. Faculty who taught economics were previously affiliated with the departments of history or political science. They’ve tried to keep ahead of economic trends since the beginning, seeking new ways to explain many of the world’s most pressing economic challenges.

Berkeley has always been a trailblazer in education, taking on controversial topics like women in academics. In the economics department, this reputation holds true as well. Berkeley Economics professors are well-known for their breadth of expertise and inventiveness in the discipline.

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The department is relatively large, with about 1300 undergraduate students and a wide selection of classes to choose from. Through collaborations with other prestigious American universities, Many Berkeley Economics Ph.D.s go on to work at Harvard, Yale, and MIT, as well as the World Bank and the Federal Reserve of the United States.

If you enjoy doing research with other students and instructors, the Berkeley Economics program might be for you. You can also join the Undergraduate Economics Association as part of Berkeley’s Economics Program. This organization is the Economics Department’s oldest and largest student organization.

It was founded in 1975 to provide a venue for economics majors and individuals interested in economics to pursue their enthusiasm for economics both on and off-campus. In addition, the group offers academic and professional assistance. Academic events and workshops, professional events and workshops, committees, and social activities are all examples of events. This group is also a fantastic method to meet new people with similar interests.

8. Cambridge University

Cambridge, United Kingdom

Cambridge University is one of the best schools in the world for economics
Cambridge Faculty of Economics Overview
Tuition Acceptance Rate Economics Degrees Available Median Starting Salary Undergraduates
£22,000/year (GBP) ~20% Bachelor’s Degree
Master’s Degree
Doctorate Degree $68,081 (USD)
About the Cambridge Faculty of Economics

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Cambridge’s economics courses use mathematical and statistical approaches to provide students with a solid, in-depth understanding of economics. They also use historical, political, and social data to assist students to grasp economics in the real world.

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While the focus of this three-year course is on economics fundamentals, it also incorporates mathematics and statistics, history, sociology, and politics. Graduates of this program find work in a variety of highly coveted sectors due to their broad knowledge base. Many graduates continue their education by enrolling in a Master’s or Ph.D. program.

Students learn from some of the top economists of this generation as part of the economics program. Every member of the faculty is dedicated to improving public policy. Some of the new hires are members of the Bank of England’s Monetary Policy Committee and the Competition Commission.

As a Cambridge economics student, you’ll gain practical skills that may be used in a variety of fields, including government, management, and finance. These abilities are also beneficial in Masters and Ph.D. programs.

Students can use the Marshall Library of Economics to access a variety of statistical databases and tools, as well as a large collection of economic books, journals, and articles. You can also engage in social events and informal lectures as a Cambridge Economics student through the student-run Marshall Society.

Consider attending Cambridge Open Days if you’re interested in learning more about the economics program at Cambridge. This event allows you to tour the Cambridge campus, hear about economics courses, and ask questions about student life.

7. Oxford University

Oxford, United Kingdom

oxford is one of the best schools for economics
Oxford Department of Economics Overview
Tuition Acceptance Rate Economics Degrees Available Median Starting Salary Undergraduates
£32,000/year (GBP) ~17.5% Bachelor’s Degree
Master’s Degree
Doctorate Degree $70,000 (USD)
About the Oxford Department of Economics

While economics has a lengthy history at Oxford, the department is still relatively new. It was founded in 1999 and now houses one of Europe’s largest and most diverse groups of academic economists. The Department of Economics at Oxford is well-known for its teaching and research. It’s also noted for having internationally renowned faculty, researchers, and lecturers.

Surprisingly, there is no single Economics degree offered by the department. This three-year program includes economics as well as one or two other topics. Alternatives include:
BA History & Economics
BA Economics & Management
BA Philosophy, Politics & Economics

You must choose a dual degree in economics plus one or two other courses because the Department of Economics at Oxford does not provide a straight Economics degree. The Philosophy, Politics, and Economics Program is one of the most popular options. You’ll also attend classes in the Politics and International Relations, Philosophy, History, and Business Schools as part of this degree.

Students benefit from a more well-rounded education that easily transfers into a successful career when combined degrees are offered. With 1000 undergraduates, the department is considered a major program.

You will perform broad-based research across a wide range of areas as an Economics student, rather than specializing in one field. You’ll join an active and supportive research group led by a department senior member. You will be able to participate in group activities, workshops, and lectures through this group.

6. University of Chicago

Chicago, Illinois

The University of Chicago is one of the best schools to study economics
University of Chicago Department of Economics Overview
Tuition Acceptance Rate Economics Degrees Available Median Starting Salary Undergraduates
$60,000/year (USD) ~7% Bachelor’s Degree
Master’s Degree
Doctorate Degree $83,000 (USD)
About the University of Chicago Department of Economics

The University of Chicago’s Department of Economics is frequently ranked as one of the best in the world, with numerous distinctions and awards. Students can major in traditional economics or specialize in Business Economics or Data Science through one of their newer paths. The undergraduate curriculum provides students with the necessary core tools to comprehend how the modern economy works.

Students with an economics degree at UChicago can pursue a variety of careers and graduate degrees, including law, business, and medicine. Students can do graduate studies in applied economics and economic policy or pursue an economic research career with a Ph.D. after completing their undergraduate degree.

You will conduct study and research utilizing real-world scenarios and figures as an undergraduate in the Department of Economics at UChicago. Professors are aware that each student’s objectives are unique. Some are pursuing academic goals, while others are planning careers in the public or commercial sectors.

You will also study classes through UChicago’s School of Business and other courses across the institution if you choose a specialization, such as Business Economics. The economics programs at UChicago are distinguished for their flexibility and variety of alternatives. You can experiment with different pathways until you find one that suits your hobbies and career objectives.

In addition to Applied Microeconomics, Macroeconomics, Econometrics, and Economic Theory, the economics department offers various research possibilities. These workshops are attended by both faculty and students.

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5. London School of Economics

London, United Kingdom

LSE is one of the best schools in the world for economics in 2021
London School of Economics, Department of Economics Overview
Tuition Acceptance Rate Economics Degrees Available Median Starting Salary Undergraduates
£22,000/year (GBP) 9% Bachelor’s Degree
Master’s Degree
Doctorate Degree $70,000 (USD)
About the London School of Economics, Department of Economics

The LSE Department of Economics is a leading research department that represents all of the major subjects of economics. It is one of the world’s largest economics programs. The LSE Department of Economics has been at the forefront of practically every important advance in economics for the past 50 years, thanks to its size, influential faculty, and commitment to staying on the cutting edge of economic developments. The research centers of LSE are the school’s research hub.

The LSE Department of Economics has produced some of the world’s most successful corporate leaders and researchers, including nine Nobel Laureates. Graduates find work in national and international organizations, as well as in industry, finance, and government.

Consider LSE’s Department of Economics if you want to improve the world via economics and economic research. This department has faced massive global concerns such as climate change and economic development and growth, frequently changing policy and formulation in the process. Because of the department’s high visibility and groundbreaking work, students and faculty are frequently featured in national and international media. Through their public lecture series, the department also brings in high-profile lecturers so you can learn from economists from all across the world.

4. Princeton University

Princeton, New Jersey

Princeton is one of the best schools in the world to study economics in 2021
Princeton Economics Program Overview
Tuition Acceptance Rate Economics Degrees Available Median Starting Salary Undergraduates
$55,000/year (USD) 5.8% Bachelor’s Degree
Doctorate Degree $80,000 (USD)
About the Princeton Economics Program

Princeton’s economics program is not only one of the best in the world; it’s also one of the university’s most popular majors. More than 90% of economics graduates take jobs in consulting, public policy, and finance. Others go on to graduate school at Princeton, where they can study economics, law, medicine, public policy, or business.

All Princeton students, particularly those in the economics department, strive to complete their studies “in the service of the nation and humanity.” Students in economics desire to make a difference in the world.

The appeal of this program originates from the fact that an economics degree is adaptable, providing students with both technical and analytical skills. They learn how to ask questions, conduct research, and create new ideas.

The Economics Department at Princeton puts its students first, inspiring, mentoring, and teaching them to be future leaders in government, academia, and industry. As an Economics student, you’ll collaborate with some of the world’s brightest brains, including Nobel Laureates. Their work in macroeconomics and econometrics has received international acclaim.

If you want to improve systems and impact the world, the economics program at Princeton is for you. To assist progress in economics, policy, and research, you’re encouraged to think outside the box and develop new tools and approaches. Graduate work and even professor posts at the university and at other prominent research universities are also welcomed.

3. Harvard University

Cambridge, Massachusetts

Harvard is one of the best schools to study economics
Harvard Economics Program Overview
Tuition Acceptance Rate Economics Degrees Available Median Starting Salary Undergraduates
$50,000/year (USD) 5.8% Bachelor’s Degree
Doctorate Degree $78,800 (USD)
About the Harvard Economics Program

The Economics Department at Harvard University offers much more than academic achievement; it allows students to contribute to the solution of some of the world’s most pressing issues through academics, study, conversation, and research. Climate change, game theory, econometric methodologies, health insurance, stock market issues, politics, and global poverty are among the topics on which students collaborate with their classmates and Harvard economics faculty. Faculty and lecturers push students to think outside the classroom in order to come up with viable answers to global issues.

All economics majors begin with introductory and intermediate economic theory courses to ensure that they have a solid understanding of basic economic ideas. Students also study economic theory, mathematics, and statistics classes in order to understand how to conduct their own economic research.

Harvard’s Economics Department has led the way in creative research and theories as one of the greatest economics departments in the world. You’ll have the rare opportunity to collaborate with a variety of experts with a wide range of interests, allowing you to pursue research in almost any field of economics. Students and teachers collaborate closely in subjects as diverse as political science, psychology, law, and business. You’re encouraged to pursue new ideas and theories and apply them to real-world challenges since teachers come from a variety of research backgrounds.

2. Stanford University

Stanford, California

Stanford university is one of the best schools for economics in 2021
Stanford Economics Program Overview
Tuition Acceptance Rate Economics Degrees Available Median Starting Salary Undergraduates
$37,000/year (USD) 3.8% Bachelor’s Degree in Economics
Master’s Degree in Economics
Doctorate Degree in Economic $80,900 (USD)
About the Stanford Economics Program

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Following WWII, Stanford’s prestigious and well-respected economics department soared to international prominence. It remained well-known until 1960 when it was designated as a center for economic theory. The Stanford Economics Department’s current aims are to “teach undergraduate and graduate students in the methods and principles of modern economics, as well as perform both basic and applied economic research that advances the field’s frontier of knowledge.”

Because economics is such a large subject, Stanford divides its courses into specialty areas such as behavioral and experimental economics, finance, international and development economics, government policy analysis, quantitative methods, business strategy, and regulation. Students can specialize in one subject or study a broad range of economics courses, depending on their interests.

The economics program at Stanford combines traditional economics theory with cutting-edge research. Because the Economics curriculum at Stanford is highly quantitative, economics students will have a strong foundation that will equip them for a variety of careers in government, public policy, business, and finance. Many undergraduates continue their education by pursuing a Ph.D. in Economics or Finance at Stanford.

You’ll be surrounded by like-minded individuals in a vibrant intellectual community as an Economics major at Stanford. Weekly seminars, student research workshops, and other opportunities to meet and discuss important issues with other students and teachers are all available through the department.

You can take classes in related areas such as the Department of Statistics, the Graduate School of Business, and the Department of Sociology to broaden your learning experiences.

The Economics Department is very interdisciplinary and frequently interacts with other departments if you’re interested in working with students and teachers from Stanford’s medical and business schools. You have access to the Stanford Institute of Economic Policy Research as a member of the Economics Department (SIEPR). Visiting scholars interact with Stanford students and faculty to support their research on a regular basis at SIEPR.

1. Massachusetts Institute of Technology (MIT)

Cambridge, Massachusetts

MIT is the best school for economics in 2021
MIT Undergraduate Economics Program Overview
Tuition Acceptance Rate Economics Degrees Available Median Starting Salary Undergraduates
$75,000/year (USD) 4% Bachelor’s Degree in Economics
Master’s Degree in Economics
Doctorate Degree in Economic $85,000 (USD)
About the MIT Economics Program

The Massachusetts Institute of Technology (MIT) is one of the most prestigious universities in the world. In our Top 10 Economics Schools in the World list, their Department of Economics is ranked first. The Department of Economics at MIT has been a world leader in research, public service, and economics education for more than a century. Francis Amasa Walker, MIT’s third president, was the first to provide undergraduate economics courses.

He was the founder and president of the American Economic Association, as well as a notable economist. The Economics Department at MIT became the basis of the newly formed School of Humanities and Social Sciences in 1950.

The undergraduate economics program at MIT provides a solid foundation in modern economic theory as well as the US and global economies. Students are taught to think independently about economic issues and challenges through quantitative research and study. The excellent economics department at MIT prepares undergraduates for additional study in law, business, or economics, as well as employment in almost any industry or government position.

Nobel Laureates and Fellows of the National Academy of Sciences, the American Academy of Arts and Sciences, and the Econometric Society are among the Economics Department’s distinguished professors. Graduate and undergraduate education are equally important to the faculty. Even introductory undergraduate courses are taught by senior professors.

Many professors have also authored textbooks that are utilized in colleges and universities all around the world.

At MIT, innovation is an important part of the undergraduate economics program. You’ll study in “real-time” through newly produced courses because research is continuous. The economics department at MIT might be the place for you if you appreciate difficult individual research projects. You will learn how to develop writing and presentation abilities as well as increase the depth and breadth of your economics knowledge through these types of projects.

In addition, the Undergraduate Economics Association (UEA) encourages Economics Department undergraduates to attend its casual discussion. You’ll meet with teachers and discuss current economic policy issues through this group.

If you’re looking for graduate students, roughly 20% of MIT economics undergraduates pick economics or finance as a graduate program. Before pursuing a postgraduate degree, around half of the graduates obtain experience in various business disciplines. Another popular job choice for MIT grads is the law.

While many of the schools on our list of the Top 10 Best Schools to Study Economics is a good choice, you should carefully assess each program to see whether it fulfills your academic and career objectives. Some have small class numbers, while others provide a diverse selection of courses and research possibilities. Don’t forget to research the university as a whole in addition to each program. Make sure the school’s location, size, community, and extracurricular activities are all appealing to you.