Best Economics Colleges in the World
Best Economics Colleges in World: Economics is often described as the study of demand and supply, resource allocation and human behaviour that holds immense power in shaping individual and national destinies. Today, countless universities abroad boast of an economics department with a rigid selection process to attract serious minds from around the world looking to make a difference. In this article, we will discuss the Top 10 Economics Colleges in the World for Indian Students in 2024.
Best Economic Schools in the World - Selection Process
As mentioned, countless universities abroad have an economics department. So how do we distinguish the world's best economics schools from the rest? Top-ranking groups follow a subject-ranking methodology based on several parameters that help distinguish the best economic schools in the world from the rest. Before we dive into the list of best economic schools in the world, let us understand the guiding principles behind this selection. Several factors contribute to a program's prestige, including:
- Programme Structure: Does the course offer flexibility, specialization options, and international exposure to students?
- Research Output: Does the economics department of the university actively contribute to the field of economics through groundbreaking publications?
- Faculty Reputation: The number of noble laureates a university or more specifically the economics department has had or names of leading researchers shaping the curriculum
- Cost and Scholarship: Cost of studying, and availability of scholarships provided by the university to ease the burden of studying abroad for international students.
- Student Outcomes: What is the average duration for graduates who land coveted positions at top firms or pursue successful academic careers?
QS World University Rankings by Subject 2023: Economics & Econometrics - Methodology | Times Higher Education (THE) World University Rankings 2024 by Subject: Business and Economics - Methodology | ||
---|---|---|---|
Parameters | Weightage | Parameters | Weightage |
Academic Reputation | 50% | Teaching | 30.9% |
Employer Reputation | 30% | Research | 32.6% |
Citations per Paper | 7.5% | Citations | 25% |
H-Index | 7.5% | International Outlook | 9% |
IRN | 5% | Industry Income | 2.5% |
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Best Economic Schools in the World
Universities | QS World University Rankings by Subject 2023: Economics & Econometrics | Times Higher Education (THE) World University Rankings 2024 by Subject: Business and Economics |
---|---|---|
Harvard University Cambridge, United States |
#1 | #3 |
Massachusetts Institute of Technology (MIT) Cambridge, United States |
#2 | #1 |
Stanford University Stanford, United States |
#3 | #2 |
University of Chicago Chicago, United States |
#4 | #7 |
Princeton University Princeton, United States |
#5 | n/a |
University of California, Berkeley (UCB) Berkeley, United States |
#6 | #4 |
The London School of Economics and Political Science (LSE) London, United Kingdom |
#7 | #11 |
Yale University New Haven, United States |
#8 | #9 |
University of Oxford Oxford, United Kingdom |
#9 | #5 |
Columbia University New York City, United States |
#10 | #14 |
Let us discuss the world's best economics schools in detail:
Harvard University
One of the most renowned universities to study abroad for international students, Harvard University is also one of the top destinations for studying Economics. The University is home to world-renowned faculty, and noble laureates and is responsible for groundbreaking research in the field of economics. The university offers a rigorous curriculum and diverse perceptions to future economic leaders.
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Massachusetts Institute of Technology (MIT)
Only second to Harvard University, the economic programme at Massachusetts Institute of Technology (MIT) is renowned for its quantitative ability and thrives in areas like econometrics, game theory and computational economics. Indian students looking to study at the university should prepare for a rigorous analytical approach, breakthrough research opportunities and an entrepreneurial intellectual community.
Stanford University
One of the top universities for international students looking to study economics, Stanford University is renowned for its unique combination of theoretical rigour and practical application. The university is responsible for nurturing an entrepreneurial spirit and providing graduates with the skills to navigate the dynamic world of business and innovation, thanks to its renowned faculty and its proximity to the tech giants.
University of Chicago
Often referred to as the birthplace of free market economics, the University of Chicago offers International students looking to study economics a rigorous theory-based approach in their curriculum. The faculty at the university, including Nobel laureates, are calling on students to think critically about economic issues and defy the limits of their thinking. Students looking to study at the university should prepare for an intellectually stimulating environment and a strong alumni network in academia and the financial sector.
Princeton University
One of the top universities for pursuing economic studies, the Economics Department at Princeton University is dedicated to inspiring and training the next generation of students looking to become industry leaders. The majority of graduates have pursued careers in consulting, finance, public policy, academia, and more. Like all members of the Princeton community, students and faculty approach their work in the nation’s service and the service of humanity.
University of California, Berkeley
One of the top public universities in the world, the economics program at the University of California, Berkeley is famous for its emphasis on social justice and public policy. International students looking to study at the university can expect a diverse student body, engaged faculty, and a wide range of research opportunities to address real-world economic challenges.
London School of Economics and Political Science (LSE)
Situated in the heart of London's financial district, the London School of Economics and Political Science (LSE) offers an internationally focused economic perspective. The programme and by extension, the university is an excellent starting point for careers in Global Finance and International Development, thanks to its renowned faculty, and a diverse student body with extensive industry connections.
Yale University
One of the top universities for studying economics, Yale University offers a challenging and rigorous academic program, a distinguished and accessible faculty, and a friendly, supportive environment for study to international students. Yale's economics faculty embraces a broad range of research and teaching interests. and has close ties with professional schools in related fields.
University of Oxford
One of the top universities in the world, the economics program at the University of Oxford examines issues central to the world we live in: namely how the economy and organisations function, and how resources are allocated and coordinated to achieve the organisation's objectives. The programme will help students understand the world around them and to think clearly and analytically.
Columbia University
One of the top universities for study, the economics programme at Columbia University is known for focusing on urban economics, financial markets and economic development in the vibrant centre of New York City. International students looking to study at the university would find a diverse student body, an active faculty and access to a network of powerful alumni in different fields.
Best Economics Programmes in the World
The best economics programmes in the world are the courses available at the best economic schools in the world. However, candidates should note that the 'best' program is ultimately the one that aligns perfectly with their individual goals and preferences. The best economic programmes in the world include:
Best Economic Schools in the World | Best Economics Programmes in the World | Best Economics Programmes - Overview |
---|---|---|
Harvard University | Bachelor of Arts in Economics | Duration: 4 Years Tuition & Fees: ₹45.11 Lakh |
Massachusetts Institute of Technology (MIT) | Duration: 4 years Tuition & Fees: ₹44.43 Lakh |
|
Duration: 2 years Tuition & Fees: ₹47.87 Lakh |
||
Stanford University | Duration: 4 Years Tuition & Fees: ₹51.31 Lakh |
|
Duration: 1.5 - 2 years Tuition & Fees: ₹31.72 Lakh |
||
University of Chicago | Duration: 4 years Tuition & Fees: ₹53.03 Lakh |
|
Princeton University | Duration: 4 years Tuition & Fees: ₹47.95 Lakh |
Average Cost of Studying Economics Abroad
Costs vary depending on the university, program, and location. Tuition fees typically range from USD 20,000 to USD 50,000 per year, with living expenses adding another USD 15,000 to USD 30,000. International students are advised to explore scholarship opportunities and financial aid options to manage costs.
World's Best Economics Schools - Jobs
In this section, we will be discussing the top jobs that international students can get into once they have graduated from the world's best economic school.
Economist | Financial analyst |
Personal Financial Advisor | Economics Teacher |
Supply Chain Analyst | Business Reporter |
Economic Consultant | Product Manager |
Compensation Manager | Quantitative Analyst |
University rankings are a major force behind students looking to select from the best economic schools in the world. Indian students looking to pursue economic study abroad should consider parameters that are more personal to them, which include career support, faculty and research, location and culture, specialization, cost and scholarships. Candidates can get in touch with our Shiksha Counselling Services for assistance with university admissions and much more.
- Universities in USA1033 Universities
- Universities in UK175 Universities
- Universities in Canada173 Universities
- Universities in Australia121 Universities
- Universities in Ireland33 Universities
- Universities in New Zealand70 Universities