Masters in Economics in USA is a postgraduate Masters degree for a duration of 2 years. MS in Economics in USA is offered in more than 20 universities. Masters in Economics is a study of econometrics, economic analysis, market research and more. Masters in Economics in USA requirements for international students include an IELTS score of 7.0 bands and TOEFL score of 100 or above. MS and MA Economics USA requires a GPA score of 3.0 and a bachelor's degree or equivalent in Economics. Some top universities for MS in USA for international students include Columbia University, Massuchusetts Institute of Technology, etc. The average annual tuition cost of US Economics Masters programs is USD 40,000-1,20,000 (INR 32,69,826-98,09,478). The average annual salary provided to a student after Masters in Economics in US is USD 1,65,000 (INR 13572289.50). The job roles include economist, budget analyst, microeconomics and more.
Masters in Economics in USA Highlights
The table below highlights the overview of the MS in Economics in USA:
| Course Name | Masters in Economics in USA |
| Course Type | Full-time, Part-time |
| Program Duration | 2 years |
| Degree Requirement | Bachelor degree with 80% marks in UG |
| GPA | 3.0-3.5 on a 4.0 scale |
| Score Requirements | IELTS score: 7.0 or above TOEFL score: 100 or above |
| Annual Tuition Fees | USD 40,000-1,20,000 (INR 32,69,826-98,09,478) |
| Annual Salary | USD 1,65,000 (INR 13572289.50) |
| Top Recruiters | Apple, Chubb, The World Bank, JPMorgan Chase & Company, Citibank, etc. |
Why Study MSc Economics in USA?
Some considerable reasons for choosing to study MSc Economics at both private, and public universities in USA are as follows:
- There are a number of subdomains of Economics like micro Economics, macro Economics, research Economics and more provided in the university of USA.
- The employment rate of Master's in Economics in USA is 65%.
- Students are provided job placements from top recruiters like Google, Apple, The world Bank, JP Morgan and more.
- There are a number of scholarships provided to international students by the Universities for MSc Economics USA.
Masters in Economics in USA Areas of Specializations
A list of top MS courses in USA in the field of economics are enlisted below:
- Macroeconomics: The study focuses on economic analysis of macroeconomic variables, like, output, exchange rates, interest, etc.
- Microneconomics: The curriculum helps to build knowledge of market structures, price control, hypothesis of revenue sustem, etc.
- Financial Economics: The study focuses on the branch of economics dealing with the distribution and use of financial resources.
- Cooperative Game Theory: It is a mathematical framework studying strategic decision-making.
- Industrial Economics: The curriculum is about firms, industries, and markets of all sizes.
Masters in Economics Vs MBA in USA
International students can check below-mentioned table of detailed course comparison of Masters in Economics and MBA in USA:
| Particulars | Masters in Economics in USA | MBA in USA |
|---|---|---|
| Duration | 2 years | 1-2 years |
| Eligibility | A minimum of 3.0 GPA out of 4.0 | A minimum of 3.4 GPA out of 4.0 |
| Cost for Studying | USD 40,000-1,20,000 (INR 32,69,826-98,09,478) | Cost of MBA in USA is USD 60,000 – USD 90,000 (INR 49,50,630 – INR 74,25,945) |
| Salary Range (Annual) | USD 1,65,000 (INR 13572289.50) | USD 96,978 (INR 80 lakhs) |
Best Universities for Masters in Economics in USA
There are more than 20 universities which provide Masters in Economics United States. These universities provide Masters of science in Economics as well as Master of arts in Economics. International students must know first about how to shortlist univesties for MS in USA. Following are the best Economics Masters programs in the US:
| Universities in USA for Masters in Economics | Program Name | Tuition Fees (Annual) |
|---|---|---|
| Massachusetts Institute of Technology | Masters in Data, Economics, and development policy | USD 1,15,180 (INR 94,15,463) |
| Columbia University | MS in Applied Economics and Management | USD 1,33,170 (INR 1,08,86,068) |
| University of California, Berkeley | Master of Applied Economics, Master of Quantitative Economics |
USD 66,476 (INR 54,34,123) |
| Boston University | Master of Arts in Economics | USD 68,924 (INR 56,34,237) |
| Cornell University | MS in Applied Economics and management | USD 1,24,912 (INR 1,02,11,012) |
| George Mason University | Master of Economics | USD 27,003 (INR 22,07,377) |
| New York University | MA in Economics, MS in Economics |
USD 1,58,120 (INR 1,29,25,622) |
| Duke University | MS in Economics and Computation, MA in Economics |
USD 1,20,440 (INR 98,45,446) |
| University of Arizona | Master of Economics | USD 34,004 (INR 27,79,679) |
| University of Michigan | Master of Applied Economics | USD 1,01,600 (INR 83,05,358) |
Admission Process for MS in Economics USA
Some top universities in USA for MS in Economics are as follows:
- Visit the official website of the selected university.
- Select the course and check the eligibility, admission requirements and admission deadlines of the university.
- Go to the admission portal and fill in all the necessary details.
- Checking application deadlines for top universities in USA for MS.
- Submit the required documents and pay the application fees.
- Submit the application along with fee.
MS in Economics in USA Eligibility
Students are required to check US universities with high acceptance rate for MS in Economics. Some basic eligibility criterias for MS in Economics program are as follows:
- GPA of 3.0 or higher
- IELTS score: 7.0
- TOEFL: 90-100
- Bachelors degree in Economics or relevant field
- GRE Score: 300-320
Documents Requirements for MS Economics in USA
A list of some necessary documents need to submit for Masters in Economics in USA application are as follows:
- Transcripts and certificates
- Financial documents
- GPA scores
- Scores of IELTS or TOEFL
- Resume
- GRE Scores
- Health insurance
- 3 LORs for USA (Letter of Recommendations)
- Application Fees
- Bachelor's degree or equivalent
- SOP for USA (Statement of purpose)
- Valid passport
- US student visa
MS in Economics in USA Application Fees
The application fees of top colleges in USA for MS in Economics are tabulated below:
| Universities in USA for Masters in Economics | Application Fees |
|---|---|
| Massachusetts Institute of Technology | USD 75 (INR 6169.22) |
| Columbia University | USD 95 (INR 7814.35) |
| University of California, Berkeley | USD 75 (INR 6169.22) |
| Boston University | USD 95 (INR 7814.35) |
| Cornell University | USD 105 (INR 8636.91) |
| George Mason University | USD 75 (INR 6169.22) |
| New York University | USD 80 (INR 6580.50) |
| Duke University | USD 125 (INR 10282.04) |
| University of Arizona | USD 80 (INR 6580.50) |
| University of Michigan | USD 75 (INR 6169.22) |
Admission Deadlines for Masters in Economics USA
The application deadlines of private, public, and Ivy League universiries in USA varies for Masters in Economics program. Deadlines for each University are different and applications are accepted within the admission deadline:
| University Name | Admission Deadlines |
|---|---|
| Massachusetts Institute of Technology | December 15, 2022 (closed) |
| Columbia University | Closed for 2023 For 2024: November, 2023 |
| University of California, Berkeley | May 15, 2023 (closed) |
| Boston University | March 15,2023 (for fall 2023) November 15,2023 (for 2024) |
| Cornell University | December 15,2023 |
| George Mason University | June 1,2023 (closed) |
| New York University | Closed for 2023 |
| Duke University | Closed for 2023 |
| University of Arizona | June 1,2023 (closed) |
| University of Michigan | Closed for 2023 For 2024: November, 2023 |
Masters in Economics in USA Score Requirements
There are certain Duolingo accepted universities in USA in place of IELTS or TOEFL for Masters in Economics program. Score requirements for MS in Economics in USA universities are tabulated below:
| Universities in USA for Masters in Economics | Score Requirements | ELP Requirements |
|---|---|---|
| Massachusetts Institute of Technology | GRE Required | TOEFL iBT: 90 or equivalent IELTS: 7 and above |
| Columbia University | GRE Test Scores are Optional | TOEFL iBT: 100 or above TOEFL PBT: 600 or above IELTS: 7.5 or above |
| University of California, Berkeley | UCB is one of the withour GRE universities in USA | IELTS: 7.0 – minimum of 6.5 in each band TOEFL iBT: 90 – minimum of 21 in each section |
| Boston University | GMAT or GRE accepted | TOEFL iBT: 90-100 IELTS: 7.0 or higher Duolingo English Test: 120-130 |
| Cornell University | GRE general test scores are optional | IELTS: 7.0 TOEFL iBT: 77 or above |
| George Mason University | GRE exam is waived off | IELTS: 7.0 TOEFL: 88 PTE: 67 Duolingo English Test: 120 |
| New York University | GRE scores are optional | TOEFL iBT: 90 or above IELTS: 7.0 or above PTE: 125 or above |
| Duke University | GMAT: 690-740 | TOEFL iBT: 100 IELTS: 7.0 |
| University of Arizona | GRE: 314 or above GMAT: 664 or above |
TOEFL iBT: 105 or above |
| University of Michigan | GRE: 160 | IELTS 7.0 – minimum of 6.5 in each band TOEFL iBT: 90 – minimum of 21 in each section |
Cost of Living for Masters in Economics in USA
Cost of living includes the expense of accommodation, meals, groceries and more. International students can check the below-mentioned table of cost of living in USA for Masters in Economics in USA are as follows:
| University Name | Estimated Cost of Living in USA (Per Year) |
|---|---|
| Massachusetts Institute of Technology | USD 31,395 (INR 2582436.54) |
| Columbia University | USD 23,602 (INR 1941413.19) |
| University of California, Berkeley | USD 39,745 (INR 3269276.64) |
| Boston University | USD 33,168 (INR 2728276.96) |
| Cornell University | USD 37,165 (INR 3057055.39) |
| George Mason University | USD 35,245 (INR 2899123.29) |
| New York University | USD 42,694 (INR 3511850.47) |
| Duke University | USD 59,546 (INR 4898033.64) |
| University of Arizona | USD 31,623 (INR 2601190.97) |
| University of Michigan | USD 26,804 (INR 2204797.87) |
Scholarships for Masters in Economics in USA
Universities provide a number of scholarships to international students for Masters in Economics in USA. There are various fully funded Masters in Economics USA scholarships. A list of popular scholarships for MS in USA along with basic eligibility criteria and award value are as follows:
| Universities in USA for Masters in Economics | Scholarship Names | Eligibility Crieria | Awards |
|---|---|---|---|
| Massachusetts Institute of Technology | External Fellowships | The award is for international students with academic merit | Varies |
| Columbia University | Interschool Fellowships | Awarded based on academic or athletic ability | USD 1,000-5,000 (INR 82,368.10 - INR 4,11,840.50) |
| University of California, Berkeley | Berkeley Global Access Program Scholarships | Current undergraduates or recent graduates/graduate students, 3.0 Grade Point Average (GPA) | USD 2,000 (INR 1,64,101) |
| Boston University | Engineering Graduate Scholarship | Candidates enrolled in master’s programs | strong academic records | Covers half of the tuition fees |
| Cornell University | Fellowships | Merit-based awards requiring no service | Varies and are offered in tuition, stipend, and Student Health Plan (SHP) |
| George Mason University | #YouAreWelcomeHere scholarship program | International students are eligible | Amount applies to tuition cost (varies) |
| New York University | Global Citizen Scholarship | Non-US citizen with strong academic background | Varies based on skill evaluation of candidates |
| Duke University | Fuqua Merit Scholarships | International students with excellent academic scores | Amount varies with waiving partial to full-tuition fees |
| University of Arizona | FIRST-YEAR GLOBAL WILDCAT AWARD | Based on academic merit | USD 5,500-22,000 (INR 4,50,513.52 – INR 18,02,054.10) |
| University of Michigan | Aga Khan Foundation’s International Scholarship Programme | Students with excellent merit records | Half grant and half loan for the amount which is to be paid |
Jobs after Masters in Economics in USA
The average salary for Masters in Economics ranges from USD 79,000 - 84,000 (INR 64,57,906 - 68,66,634). The employment rate for Masters in Economics is 65% and graduates get employed within six months of study. Following is the salary after MS in USA for popular job sectors of Economist:
| Job Roles | Average Annual Salary (Estimated) |
|---|---|
| International Economist | USD 72,362 (INR 59,15,278) |
| Economic Consultant | USD 95,658 (INR 78,19,625) |
| Policy Analyst | USD 73,278 (INR 59,90,157) |
| Budget Analyst | USD 75,597 (INR 61,79,725) |
| Micro Economist | USD 82,667 (INR 67,57,667) |
| Industrial Economist | USD 67,848 (INR 55,46,278) |
| Macro Economist | USD 71,958 (INR 58,82,253) |
| Market Researcher | USD 65,099 (INR 53,21,560) |
| Statistician | USD 76,141 (INR 62,24,195) |
| Economist | USD 82,667 (INR 67,57,667) |
Top Recruiters
Following is the list for top recruiters hiring students with jobs after MS in USA:
- Apple
- Chubb
- The World Bank
- JP Morgan
- Ernst And Young
- Citi Bank
Work Permit after Masters in Economics in USA
International students can check below-mentioned list of essential documents for F1 student visa application:
- A change of status that provides employment authorization
- An adjustment of status to become a lawful permanent resident.
- Acceptance letter from the university and all academic transcripts.
- Provisional, migration, birth, and character certificates of applicants.
- Official I 20 form signed by both the candidate and the university.
- 6-month Bank Statement along with Balance Certificate
- SEVIS fee receipt for interview
- The SEVIS charge has to be paid before candidates attend their visa interviews.
ROI of Top Universities in USA for Masters in Economics
The universities of USA have high return on investment for Masters in Economics. Following table provides the comparison between average tution cost and average salary for best Masters in Economics USA:
|
Name of University |
Tuition Fees |
Cost of Living |
Total Expense | Annual Salary | ROI |
| Massachusetts Institute of Technology | USD 1,15,180 (INR 94,15,463) | USD 31,395 (INR 2582436.54) | USD 1,46,575 (INR 12056717.17) | USD 1,65,000 (INR 13572289.50) | 112% |
| Columbia University | USD 1,33,170 (INR 1,08,86,068) | USD 23,602 (INR 1941413.19) | USD 1,56,772 (INR 12895484.66) | 105% | |
| University of California, Berkeley | USD 66,476 (INR 54,34,123) | USD 39,745 (INR 3269276.64) | USD 1,06,221 (INR 8737346.44) | 155% | |
| Boston University | USD 68,924 (INR 56,34,237) | USD 33,168 (INR 2728276.96) | USD 1,02,092 (INR 8397710.18) | 161% | |
| Cornell University | USD 1,24,912 (INR 1,02,11,012) | USD 37,165 (INR 3057055.39) | USD 1,62,077 (INR 13331854.34) | 101% | |
| George Mason University | USD 27,003 (INR 22,07,377) | USD 35,245 (INR 2899123.29) | USD 62,248 (INR 5120290.16) | 265% | |
| New York University | USD 1,58,120 (INR 1,29,25,622) | USD 42,694 (INR 3511850.47) | USD 2,00,814 (INR 16518216.63) | 82% | |
| Duke University | USD 1,20,440 (INR 98,45,446) | USD 59,546 (INR 4898033.64) | USD 1,79,886 (INR 14796756.78) | 91% | |
| University of Arizona | USD 34,004 (INR 27,79,679) | USD 31,623 (INR 2601190.97) | USD 65,627 (INR 5398234.20) | 251% | |
| University of Michigan | USD 1,01,600 (INR 83,05,358) | USD 26,804 (INR 2204797.87) | USD 1,28,404 (INR 10562037.95) | 128% |
Many universities provide Masters in Economics in USA without GRE. Students can choose from a diverse range of sub disciplines within Masters in Economics in US. There are numerous scholarships and awards provided to meet the expenses for studying Master's in Economics in USA.
FAQS
Ques: Is Masters in Economics Worth it in USA?
Ans: The salary outlook for with a Masters in Economics is good.
Ques: How Can One do a Masters in Economics in USA?
Ans: An international student must have a minimum of 3.0 GPA on the scale of 4.0 for Masters in Economics in USA.
Ques: How Much Does a Masters in Economics Make in the US?
Ans: The salary structure for Masters in Economics is up to USD 1,65,000 (INR 13572289.50) per year.
Ques: What Subjects are Covered in Economics Masters in USA?
Ans: Macroeconomics, Microeconomics, Industrial Economics, etc. are subject areas covered in Masters in Economics in USA.
Ques: Are Economists in Demand in USA?
Ans: The sector of economist is likely to rise by 6% by the year 2031.
Ques: How Hard is a Masters in Economics?
Ans: An economics masters degree is tough, and students need a strong grasp in mathematics as well as statistics skills.
Ques: Is MS in Economics a STEM Degree?
Ans: Masters in Economics is a STEM designated degree.
Ques: Is Economics a Good Major in USA?
Ans: Economics is a good major in USA with excellent career opportunities for international students.
Ques: How Long is the Masters of Economics in the US?
Ans: Masters in Economics in the USA is of 2 years duration.
Ques: Does Masters in Economics Have Maths?
Ans: Masters in Economics programw does have a strong connection with Mathematics.
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