This page introduces the top colleges in Economics program. Harvard University is ranked first in Economics program ranking and Massachusetts Institute of Technology is placed in second. Next describes the Economics program in general.
Economics is the social science that studies the behavior of individuals, groups, and organizations (called economic actors, players, or agents), when they manage or use scarce resources, which have alternative uses, to achieve desired ends. Agents are assumed to act rationally, have multiple desirable ends in sight, limited resources to obtain these ends, a set of stable preferences, a definite overall guiding objective, and the capability of making a choice. There exists an economic problem, subject to study by economic science, when a decision (choice) has to be made by one or more resource-controlling players to attain the best possible outcome under bounded rational conditions. In other words, resource-controlling agents must maximize value subject to the constraints imposed by the information the agents have, their cognitive limitations, and the finite amount of time they have to make and execute a decision. Economic science centers on the activities of the economic agents that comprise society. (read more at wiki)
Academic Comparison Between Best Colleges in Economics Program
1 public and 9 private schools are ranked in the top Economics colleges. The average acceptance rate of the schools is 7.10% where Stanford University has the tightest acceptance rate of 4% and University of California-Berkeley has the highest rate of 15%. Total 217,314 students are enrolled into the best Economics schools where University of California-Berkeley has the largest population with 41,891 students and Princeton University is the smallest school with 8,273 students. The average graduation rate is 94.70% and the average students to faculty ratio is 7.40:1 at those colleges.
Next table shows the academic information and key facts of the best Economics colleges including acceptance rate, graduation rates, student population, and students to faculty ratio.| Rank | Name | Acceptance Rates | Graduation Rates | Population | Student-Faculty Ratio |
|---|---|---|---|---|---|
| 1 | Harvard University Cambridge, MA | 5% | 96% | 31,120 | 7:1 (14.29 %) |
| 1 | Massachusetts Institute of Technology Cambridge, MA | 7% | 94% | 11,466 | 3:1 (33.33 %) |
| 1 | Princeton University Princeton, NJ | 5% | 97% | 8,273 | 5:1 (20.00 %) |
| 1 | University of Chicago Chicago, IL | 7% | 93% | 16,227 | 5:1 (20.00 %) |
| 5 | Stanford University Stanford, CA | 4% | 94% | 17,534 | 12:1 (8.33 %) |
| 5 | University of California-Berkeley Berkeley, CA | 15% | 91% | 41,891 | 18:1 (5.56 %) |
| 7 | Northwestern University Evanston, IL | 8% | 94% | 22,008 | 6:1 (16.67 %) |
| 7 | Yale University New Haven, CT | 6% | 97% | 12,974 | 6:1 (16.67 %) |
| 9 | University of Pennsylvania Philadelphia, PA | 8% | 96% | 25,367 | 6:1 (16.67 %) |
| 10 | Columbia University in the City of New York New York, NY | 6% | 95% | 30,454 | 6:1 (16.67 %) |
| Average | 7.10% | 94.70% | 217,314 (Total) | 7.40:1 (13.51 %) |
Best College In Economics 2019 Tuition Comparison and 2020 Estimated Costs
Next table lists 2018-2019 tuition & fees and compares the costs between the best college in economics. The 2018-2019 costs are officially published by IPEDS, U.S. Department of Education. The estimated costs for year 2019-2020 are calculated and estimated based on each school's tuition rates last year.
For the undergraduate programs, the average tuition & fees of the best college in economics is $52,642 where Columbia University in the City of New York has the most expensive costs with $59,430 and University of California-Berkeley has the lowest amount of tuition with $43,176. The average graduate tuition & fees of the best college in economics is $47,326 where University of Chicago has the highest tuition with $58,968 and University of California-Berkeley has the lowest amount of graduate school tuition with $29,233.
| Rank | School Name | 2019 Tuition & Fees | 2020 Estimated Tuition & Fees | ||
|---|---|---|---|---|---|
| In-State | Out-of-State | In-State | Out-of-State | ||
| 1 | Harvard University | $50,420 | $51,935 | ||
| 1 | Massachusetts Institute of Technology | $49,892 | $49,892 | ||
| 1 | Princeton University | $50,340 | $53,757 | ||
| 1 | University of Chicago | $58,230 | $61,846 | ||
| 5 | Stanford University | $51,354 | $53,151 | ||
| 5 | University of California-Berkeley | $14,184 | $43,176 | $14,198 | $44,191 |
| 7 | Northwestern University | $54,568 | $56,525 | ||
| 7 | Yale University | $53,430 | $55,540 | ||
| 9 | University of Pennsylvania | $55,584 | $57,712 | ||
| 10 | Columbia University in the City of New York | $59,430 | $68,395 | ||
| Average | $14,184 | $52,642 | $14,198 | $55,295 | |
| Rank | School Name | 2019 Tuition & Fees | 2020 Estimated Tuition & Fees | ||
|---|---|---|---|---|---|
| In-State | Out-of-State | In-State | Out-of-State | ||
| 1 | Harvard University | $47,562 | $49,221 | ||
| 1 | Massachusetts Institute of Technology | $52,892 | $52,892 | ||
| 1 | Princeton University | $51,250 | $53,669 | ||
| 1 | University of Chicago | $58,968 | $61,003 | ||
| 5 | Stanford University | $49,617 | $49,617 | ||
| 5 | University of California-Berkeley | $14,131 | $29,233 | $14,092 | $29,194 |
| 7 | Northwestern University | $54,620 | $56,632 | ||
| 7 | Yale University | $42,100 | $43,229 | ||
| 9 | University of Pennsylvania | $38,630 | $40,186 | ||
| 10 | Columbia University in the City of New York | $48,390 | $49,867 | ||
| Average | $14,131 | $47,326 | $14,092 | $48,551 | |
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