collageWe determined this ranking by averaging the rankings for the top 20 schools in both the 2021 QS World Subject Rankings and the 2021 Times Higher Education World Rankings by Subject of top economics schools. Both lists use different criteria, so we got a holistic view of the top 10 economics schools by averaging them.
The Top 10 Best Schools to Study Economics in 2021/22
| 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 |
Let’s breakdown the top 10 Economics Schools to learn more about them, whether its for you and your chances of getting in!
10 Yale University
New Haven, Connecticut
The Department of Economics at Yale is a thriving network of professors, researchers, and students collaborating to predict the future impacts of US policies and solve some of the world’s most pressing economic problems.
Students study a diverse set of topics throughout this 4-year economics program and choose from a Bachelor’s degree in Economics or a Bachelor’s degree in Economics & Mathematics. Additionally, the university recently classified all Economics degree programs as science, technology, engineering, and mathematics (STEM).
Through Yale’s summer or academic year programs, students can further explore and research economics topics that interest them and ones that will help further their career goals. During their final year, economics majors explore a subject of their choice for their senior thesis.
Learn more about Yale University.
9 University of California, Berkeley
Berkeley, California
U.C. Berkeley’s Department of Economics began in 1903. Before 1903, faculty who taught economics were part of the Departments of History or Political Science. Since its inception, they’ve strived to stay ahead of the economic trends, looking for innovative ways to explain many of the world’s top economic issues.
Berkeley has always been a pioneer in education, boldly addressing hot issues like women in academia. This reputation remains true in the economics department as well. Berkeley Economics faculty are known for their extensive knowledge and creativity in the field.
With more than 1300 undergraduate students, the department is relatively large, offering students a broad range of classes. Through connections with other prestigious universities in the United States, many Berkeley Economics Ph.D.s find positions at Harvard, Yale, and MIT, the World Bank, and U.S. Federal Reserve.
Learn more about UC Berkeley.
8. Cambridge University
Cambridge, United Kingdom
Economics courses at Cambridge give students a foundational, in-depth understanding of economics through mathematical and statistical techniques. They also help students understand economics related to the real world by incorporating historical, political, and social data.
While this 3-year course focuses on economics basics, it includes many other disciplines, including mathematics and statistics, history, sociology, and politics. Due to their wide range of knowledge, graduates of this course find jobs in many highly desirable fields. Many graduates also continue their studies in one of the Master’s or Ph.D. programs.
As part of the economics program, students learn from some of the greatest economists of this generation. All faculty members are committed to improving public policy. Some of the recent staff are active members of the Monetary Policy Committee of the Bank of England and the Competition Commission.
Learn more about University of Cambridge
7. Oxford University
Oxford, United Kingdom
While economics is an important part of Oxford’s long history, the department is relatively young. Established in 1999, it’s home to one of the largest and diverse groups of academic economists in Europe. Oxford’s Department of Economics is world-renowned for its teaching and research. It’s also known for its highly-respected international faculty, researchers, and lecturers.
Surprisingly, the department does not offer a solo Economics degree. Students in this 3-year program study economics along with one or two other subjects. Options include:
- BA History & Economics
- BA Economics & Management
- BA Philosophy, Politics & Economics
6. University of Chicago
Chicago, Illinois
The Department of Economics at Chicago consistently ranks as one of the top economics departments in the world, boasting a large number of honors and recognitions. Students can choose the standard economics major or one of their newer tracks, specializing in Business Economics or Data Science. The undergraduate program equips students with the foundational tools they need to understand how the modern economy operates.
The economics degrees at UChicago give students a wide range of career and graduate degree options, including law, business, and medicine. Once students receive their undergraduate degree, they can also do graduate-level work in applied economics and economic policy or pursue an economic research career with a Ph.D.
Learn more about University of Chicago
5. London School of Economics
London, United Kingdom
As one of the largest economics programs in the world, the LSE Department of Economics is a leading research department representing all the main fields of economics. Due to its size, influential faculty, and commitment to staying at the cutting edge of economic developments, the LSE Department of Economics has remained at the forefront of nearly every major development within economics for the past 50 years. LSE’s research centers are the nucleus of the school’s research.
LSE Department of Economics graduates are some of the most successful business leaders and researchers in the world, boasting nine Nobel Prize winners. Graduates successfully find jobs in national and international organizations and business, finance, and government institutions.
Learn more about London School of Economics
4. Princeton University
Princeton, New Jersey
The Economics program at Princeton is not only one of the best in the world; it’s also one of the most popular majors at the university. More than 90% of economics graduates accept job offers in consulting, public policy, or finance. Others continue their education in one of Princeton’s competitive graduate economics, law, medicine, public policy, or business programs.
All Princeton students, especially those in the economics department, pursue their studies “in the nation’s service and the service of humanity.” Economics students want to make an impact on the world.
The popularity of this program stems from the fact that an economics degree is versatile and gives students both a technical and analytical background. They learn how to ask questions, research, and develop innovative and practical solutions.
Learn more about Princeton University
3. Harvard University
Cambridge, Massachusetts
Harvard’s Economics Department offers much more than academic excellence; it gives students the opportunity to help fight some of the world’s toughest problems through academics, study, discussion, and research. Students work with their peers and Harvard economics faculty on climate change, game theory, econometric methods, health insurance, stock market issues, politics, and global poverty. Faculty and professors encourage students to think beyond the classroom to reach plausible solutions for global problems.
All economics majors start with introductory and intermediate economic theory courses, so they have a firm foundation in fundamental economic principles. Students also take courses in economic theory, mathematics, and statistics so they can learn how to do their own economics research.
Learn more about Harvard University
2. Stanford University
Stanford, California
Stanford’s prominent and revered economics department rose to international distinction following World War II. Its recognition continued into 1960 when it became known as the center for economic theory. Today, the Stanford Economics Department’s missions are to “train students at the undergraduate and graduate level in the methods and ideas of modern economics, and to conduct both basic and applied research in economics that pushes forward the frontier of knowledge in the field.”
Since economics is a broad major, Stanford groups courses into focus areas: Behavioral & Experimental, Finance, International & Development, Government Policy Analysis, Quantitative Methods, Business Strategy, and Regulation. Depending on their interests, students can focus on one area or take a broad range of economics courses.
Stanford’s economics program includes both traditional economics theory and cutting-edge research. Stanford’s Economics program is highly quantitative, so economics majors receive a solid foundation that prepares them for many career paths, including government, public policy, business, and finance. Many undergraduates continue their studies through Stanford’s Ph.D. in Economics or Finance programs.
Learn more about Stanford University
1. Massachusetts Institute of Technology (MIT)
Cambridge, Massachusetts
Massachusetts Institute of Technology (MIT) is one of the world’s most elite colleges. Their Department of Economics ranks #1 in our Top 10 Economics Schools in the World list. For more than 100 years, MIT’s Department of Economics has led the world in research, public service, and economics education. MIT’s third president, Francis Amasa Walker, first introduced undergraduate studies in economics. Not only was he a leading economist, but he was also the founder and president of the American Economic Association. In 1950, MIT’s Economics Department became the nucleus of the newly established School of Humanities and Social Sciences.
MIT’s undergraduate economics curriculum provides a foundational introduction to modern economic theory and the US and world economy. Through quantitative research and study, students are encouraged to think independently about economic policies and problems. MIT’s stellar economics program prepares undergraduates for advanced studies in law, business, or economics and employment in nearly any industry or government career.
MIT’s Economics Department has a highly decorated department faculty with Nobel Prize winners and Fellows of the National Academy of Sciences, the American Academy of Arts and Sciences, and the Econometric Society. Faculty are equally committed to graduate and undergraduate education. Senior professors even teach introductory undergraduate courses.
Many faculty have also written textbooks that are used in colleges and universities worldwide.
Learn more about MIT
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