Economics Schools and Programs in The United States

Economics Studies in The United States

Economics studies how people, firms and governments make choices about scarce resources, and how markets, prices, employment, trade and public policy work. Students learn microeconomics and macroeconomics, statistics and econometrics, and increasingly data analysis and programming. In the United States economics is one of the most widely offered majors, taught in liberal arts colleges, business schools and research universities alike. SpainExchange lists 190 colleges, universities and schools in the United States that teach economics.

How the degree is organised

Undergraduates usually choose economics as their major within a bachelor's degree (a BA or BS), which takes about four years of full-time study. Each university sets its own credit requirements, and students also take classes in other subjects, so economics is often combined with a second major such as mathematics, political science or a language. Many universities offer more than one track: UCLA has both an Economics major and a Business Economics major, and Bentley University in Waltham, Massachusetts, offers an Economics-Finance major that applies economic principles to how organisations use limited resources such as cash, time and labour, with an accelerated BS/MS option for high-performing students. Community colleges offer two-year associate degrees, and some students transfer to a university after two years to complete a bachelor's degree.

The two main graduate degrees are the master's degree, usually about two years, and the doctorate, and both combine coursework and research. A PhD in economics, required for academic research and many senior posts, takes five years or more; EducationUSA describes the doctorate as a five- to eight-year programme. Graduate programmes are quantitative, and BLS notes that applicants may need undergraduate coursework in economics or mathematics.

Admission, language and costs

Teaching is in English, and U.S. universities require an English language proficiency test before admission. Each university sets its own requirements; strong mathematics is the best preparation, especially for graduate study. For a full degree, international students need a student visa: once accepted by a school certified by the Student and Exchange Visitor Program (SEVP), the international student office issues the Form I-20 used in the visa application.

According to the National Center for Education Statistics (NCES), average tuition and fees at 4-year institutions in 2022-23 were $9,800 at public institutions (the in-state rate) and $40,700 at private nonprofit institutions, so check what each university charges non-residents. Credits earned at a community college, which is usually less expensive, can lower the total cost of a bachelor's degree, for example in a "2+2" plan of two years at a community college and two years at a university.

Where to study economics

Economics is taught across the whole country. Boston, Philadelphia and New York have four schools each in this directory, Denver and Cambridge three, and Seattle, Ithaca, Claremont and Waltham two. Examples include large public universities such as the University of Michigan, the University of Texas at Austin, UCLA, the University of California San Diego, the University of Washington and the University of Wisconsin-Madison; private research universities such as Stanford, Yale, Cornell, Duke, Northwestern, the University of Chicago and Vanderbilt; liberal arts colleges such as Claremont McKenna College, Dartmouth College and Lawrence University; business-focused universities such as Bentley University; and community colleges such as Seattle Central College and Pasadena City College.

Recognition and careers

A U.S. bachelor's or master's degree in economics is an academic qualification; there is no licence to practise as an economist. Check that the university is accredited: EducationUSA notes that a school certified by SEVP may not hold national or regional accreditation.

Economics graduates work in banking and finance, consulting, data analysis, public administration, international organisations and research, and many continue to graduate study in business or law; Bentley notes that many of its Economics-Finance alumni work in banks or government roles. For the job title "economist", the U.S. Bureau of Labor Statistics (BLS) says a master's degree is the typical requirement: some government positions accept a bachelor's degree, while positions in business, research or international organisations may require a master's or PhD and work experience. The federal government employs 26% of economists and consulting services 22%. BLS projects that employment of economists will grow 5% from 2025 to 2035, faster than average, with about 1,100 openings a year.

Frequently asked questions

Is a BA or a BS in economics better?

Neither is better in general. Universities use the names differently; a BS often requires more mathematics and statistics. Compare the course requirements of each programme.

Do I need a master's degree to work as an economist?

Usually. According to BLS, economists typically need a master's degree, although some government jobs accept a bachelor's degree with enough economics, statistics or mathematics.

How long does a PhD in economics take?

Doctorates in the United States usually take five to eight years, combining coursework, exams and a dissertation.