The study of economics is a vital part of being able to forecast the future as it relates to the business climate at a given point in time. The world is made up of diverse economies and there are great advantages to understanding how to apply economic theory in a multitude of industries and situations. The industry is highly competitive and the most prominent job opportunities go to those individuals with the best training. Here are the 10 best economics schools based on a survey reported by America.edu.
1. Harvard University
Harvard University is a private school located in Cambridge, Massachusetts and was founded in 1636 making it the oldest university in America. Through a rich history, Harvard has established itself as the premiere educational institution in the world.
While the school does not offer an undergraduate degree in economics, they do offer a degree in Applied Mathematics with a concentration in Economics. This provides a track for students to qualify and enter the PhD in Economics program. This programmed is made up of a series of courses and mandatory seminars that will prepare the student for a possible career as a economist with some of the most prestigious financial institutions in the world. Estimated Annual Tuition: $41,616.
2. Massachusetts Institute of Technology
The Massachusetts Institute of Technology is a private school also located in Cambridge and was founded in 1861. The Department of Economics is affiliated with the School of Humanities. As is the case with Harvard, MIT doesn’t offer a formal undergrad degree in economics, but instead, offers a undergraduate program.
Economics majors are taught theoretical and applied topics in microeconomics and macroeconomics. They are also afforded opportunities to participate in research projects sponsored by the Economics department. The graduate school offers a PhD in Economics. Each year, only 24 students are accepted into the program making it one of the most highly competitive degrees in the school. Estimated Annual Tuition: $43,210
3. Princeton University
Princeton University is a private university located in Princeton, New Jersey and was founded in 1746. As part of the elite Ivy league group of schools, Princeton is rated as one of the top educational facilities in the world. The department offers a Bachelor of Arts in Economics as an area of concentration. This program is one of the most popular programs in the school. The PhD in Economics program is one of the best in the world. The program has a three percent acceptance rate into the program and the school covers the tuition and fellowship support for the students who win admittance. Many of the PhD graduates go onto careers as professors in elite universities throughout the world. Estimated Annual Tuition: $41,820.
4. Stanford University
Stanford University is a private school located in the Palo Alto area of California. The school was founded in 1885. The Economics department offers an undergraduate degree with an Economics major. The Economics major is very popular as it provides students with an opportunity to apply for graduate school is so many different areas such as Law, Business, Medicine and of course, Economics.
While the department offers a Master’s in Economics, it is only available to students who are scheduled to pursue a PhD in Economics as well. There is one exception. Individuals who are pursuing a PhD in other departments can also apply for this Master’s program. Estimated Annual Tuition: $42,690
5. University of California—Berkley
The University of California—Berkley was founded in 1868. The Economics Department can be found in the School of Letters and Science. Students pursuing a undergraduate degree with a major in Economics are encouraged to to participate in one of the top economic research departments in the country. They are also given the opportunity to study abroad as they focus on economical history as well as advanced macroeconomics.
The department also offers a PhD in Economics for students who are interested in a career involving academics or cutting edge economic research. Program students are taught the procedures needed to perform top level research. Estimated Annual Tuition: $12,864 residents, $35,742 non-residents.
6. Columbia University
Columbia University in another one of the the elite Ivy League schools listed in the survey. Columbia is a private school located in New York City and was founded in 1754. The Economics department currently offers a Bachelor of Arts and a PhD in Economics. Beginning in 2015, the school will start offering a Master’s program for qualified students. The Bachelor’s program teaches students about such topics as international trade, labor market analysis and economic trends in third world countries.
Students in the graduate program are required to become involved in research projects and master two specialized fields or one in-depth field. They are also given the opportunity to work with faculty in weekly workshops on a variety of modern day topics. Estimated Annual Tuition: $46,846
7. California Institute of Technology
California Institute of Technology is a private college located in Pasadena and was founded in 1891. The Caltech Division of the Humanities and Social Sciences offers a Bachelor’s degree in Social Sciences with a concentration in Economics or Business, Economics, and Management (BEM). The latter option is one of only a few such programs offered throughout the country.
A PhD in Social Sciences is offered to qualified students. The program encourages student to supplement their classroom studies with work in a economics laboratory doing research and working with the school’s renowned research staff. Estimated Annual Tuition: $41,538
8. University of California—Los Angeles
This is the second University of California campus to be listed on the survey. UCLA was founded in 1919. The school offers three Bachelor of Arts programs (Economics, Business Economics and Economics/International Area Studies) and one Bachelor of Science program in Mathematics/Economics. At UCLA, these programs are often used as prerequisites for entry into both the Economics and Business graduate programs.
The PhD Program in Economics is offered to provide graduates with an opportunity to work in economics research or prepare for a career in academics, government and business. Estimated Annual Tuition: $12,862 for residents, $35,740 non-residents.
9. Cornell University
Cornell University is part of the elite Ivy League. It is a private university located Ithaca, New York and was founded in 1865. The Department of Economics is located in the College of Arts and Sciences. The department offers a Bachelor of Arts in Economics. As of Fall 2013, the department also began offering a new Econometrics option.
The PhD degree in Economics is the only advanced degree offered in the area of economics. The school is highly supportive of PhD candidates using this opportunity to do research in any economics related area as long a two faculty members approve of the endeavor. Estimated Annual Tuition: $30,910 residents, $47,050 non-residents.
10. Brown University
Brown is the last Ivy League entrant into the survey. Brown was founded in 1764 and is located in Providence, Rhode Island. The Department of Economics is located in the School of Social Sciences. The department offers both a Bachelor of Arts and PhD in Economics. The undergraduate program focuses on teaching students the information necessary to understand economics from both a private business and governmental point of view.
The PhD program is a two-year program of learning how to perform and analyze different areas of economic research. It also prepares students for a possible career in academics. Estimated Annual Tuition: $45,612.