80 Masters in Economics Courses in USA- Apply Now!

Master's in Economics in USA suits students who want a clear path into finance, policy, research, or analytics. In 2023, economists in USA earned a median salary of $115,730 (₹96 lakh). The job outlook is steady too, with a 5% growth expected between 2023 and 2033.

Most programs last between 18 to 24 months, with options to choose between research-based or applied economics tracks. Graduates often take up roles as economic analysts, consultants, or policy advisors in banks, think tanks, and tech firms.

This page covers all the information you need about Master's in Economics in USA - top universities, tuition fees, job roles, salary trends, eligibility, and how to apply step by step.

If you're still exploring similar options, here are a few related courses you can consider:

– Master’s in Finance in USA for roles in investment banking, corporate finance, and analytics.

– Master’s in Management in USA if you’re looking to blend economics with leadership.

– Or explore Accounting Courses in USA if you're interested in roles involving financial reporting and audit.

Highlights of Master's in Economics in USA

Key Factor	Details
Duration	18 to 24 months (full-time); some offer thesis or non-thesis options
Top Universities	MIT, Harvard, Stanford, University of Chicago, UC Berkeley, NYU
Tuition Fees	$30,000 – $65,000/year (₹35 – ₹50 lakh approx.)
Eligibility	Bachelor’s in economics, math, statistics, or related field (60–65% minimum)
English Tests	IELTS: 6.5+, TOEFL iBT: 85–100+, Duolingo: 110+
GRE Requirements	Required by top schools; some offer waivers or are test-optional
Scholarships	Assistantships, fellowships, and university merit-based grants
Career Prospects	Economist, Policy Analyst, Financial Consultant, Data Analyst
Post-Study Work Visa	Up to 3 years under OPT + STEM OPT (for data-focused or quantitative tracks)
Cost of Living	$1,200 – $1,800/month (₹1 – ₹1.5 lakh approx.), varies by city
Part-Time Work	Up to 20 hours/week on campus; full-time during breaks

Source: https://www.bls.gov/ooh/life-physical-and-social-science/economists.htm

On average, about 1,000 job openings for economists are expected each year from 2023 to 2033. Most of these roles will open up as current professionals retire or shift to other careers. This steady demand points to stable career opportunities for graduates entering the field.

Curious how USA compares with other destinations? Read USA vs Germany and Canada vs USA for side-by-side comparisons of study costs and job scope.

Not sure about the exams? This guide on What Exams Are Required to Study in USA includes GRE, TOEFL, IELTS, and more.

Top Universities for Master's in Economics in USA

The right university builds your foundation in economics and shapes your job options after graduation. A well-structured Master's in Economics in USA teaches theory, data skills, and applied research through real-world casework and advanced tools.

Here are top-ranked universities that offer strong economics master’s programs for international students:

Top Universities for Master's in Economics in USA

University	What Stands Out	QS World Ranking (2025)
MIT	High research output, strong in analytics and theory	#1
Harvard University	Public policy, macroeconomics, and access to global networks	#4
Stanford University	Tech-focused learning environment with faculty-led research	#6
University of Chicago	Quantitative focus and Nobel-winning faculty	#21
UC Berkeley	Development economics, policy research, and energy economics	#12
NYU	Finance-heavy programs with excellent industry links	#43
Princeton University	Selective, theory-focused, ideal for academic research	#22
Yale University	Strong in international and labor economics	#23
University of Michigan	Well-known for health, labor, and applied econometrics	#44
Columbia University	Career support, internships, and applied economics modules	#34

What Should You Focus On While Shortlisting?

Course flexibility: Some programs allow you to pick electives in data, finance, or policy
STEM designation: Helps with extended OPT work eligibility
Location: Cities like New York, Boston, or Chicago offer better access to internships
Research focus: Check for faculty profiles and recent projects tied to your interests

Every program has strengths. The best choice depends on your career goal—whether you plan to work in global finance, government policy, or private consulting.

Focus Areas in Master's in Economics in USA

Most universities offer core economic theory and econometrics. But many allow you to specialize in a track that suits your long-term career plan. Each focus area in a Master's in Economics in USA leads to different roles across the public, private, or academic sectors.

Here are some of the most popular specializations and where they can take you:

Focus Area	Where It's Useful	Common Career Paths
Development Economics	NGOs, international policy, research institutes	Development analyst, policy advisor, UN consultant
Financial Economics	Investment firms, central banks, fintech	Financial analyst, quant, portfolio strategist
Behavioral Economics	UX research, policy labs, marketing strategy	Behavioral analyst, policy designer, market lead
Quantitative Economics	Data science, risk modeling, applied research	Data analyst, economic modeler, forecasting expert
Public Policy Economics	Government, think tanks, impact evaluation	Public policy consultant, economic researcher
Environmental Economics	ESG consulting, regulatory bodies, global agencies	Sustainability economist, climate policy analyst

Some universities allow flexible electives, while others follow a fixed course plan. Always review course outlines before applying.

Eligibility for Master's in Economics in USA

To get into a Master's in Economics in USA, you need a great academic background and fundamentals in mathematics or economics. Universities also look at your quantitative readiness—often through test scores and transcripts.

Who Can Apply?

1. Accepted Undergraduate Degrees

Requirement	Details
Undergraduate Degree	BA or BSc in Economics, Mathematics, Statistics, Engineering, Commerce, or Business

2. GPA Requirements

Requirement	Details
Minimum GPA	3.0 on a 4.0 scale (approx. 60–65%)

Some universities may accept lower scores with a strong GRE or research profile.

3. GRE Score Expectations

Requirement	Details
GRE Scores	Required by many top programs; Quant score of 160+ preferred

GRE waivers may apply for select universities or applicants with strong math backgrounds.

4. English Language Tests

Test Name	Minimum Score
TOEFL iBT	85–100+
IELTS	6.5+ (no band below 6.0)
Duolingo	110+ (accepted by some universities)

Some universities waive English tests if your undergrad was in English.

5. Preferred Academic Subjects

Having these subjects on your transcript improves your academic fit and readiness for coursework.

Macroeconomics
Microeconomics
Calculus
Linear Algebra
Statistics

Some universities are test-optional or waive GRE if you have relevant academic or research experience. Still, a strong quant score often helps if you're applying to highly ranked or research-intensive programs.

Settling in? Here’s what to expect with Student Accommodation in USA.

Understand the grading system, course structure, and academic culture in this Education System in USA breakdown.

Admission Process for MS in Economics in USA

Applying to a Master's in Economics in USA involves a few key steps. Each university has its own process, but most follow a similar application timeline and format. Starting early gives you more time to prepare strong documents and improve your chances of getting funding.

Step-by-Step Application Process

Step	What to Do
1. Shortlist universities	Check rankings, specializations, tuition fees, location, and GRE requirements
2. Prepare key documents	SOP, resume, 2–3 LORs, transcripts, passport, and any certificates
3. Take GRE and TOEFL/IELTS	Register at least 2–3 months before deadlines; most top programs prefer GRE
4. Fill application forms	Apply through university portals or platforms like GradCAS, ApplyWeb, or SOPHAS
5. Pay application fees	Usually $75–$125 per university
6. Track your applications	Follow up via email or dashboard, respond to any additional document requests
7. Prepare for visa	After acceptance, complete I-20, pay SEVIS fee, and schedule a USA visa interview

Documents Required

Statement of Purpose (SOP)
Letters of Recommendation (2–3, academic or professional)
Academic transcripts (semester-wise or consolidated)
GRE and TOEFL/IELTS scores
Resume or CV
Passport scan
Optional: proof of work/internship, academic awards, or research papers

Always check the university’s official checklist. Some ask for writing samples or math coursework evidence.

Wondering if the US is still the right call? This blog on Why USA for Masters makes a strong case.

Concerned about political changes? Read How Trump’s Victory Impacts Indian Students to stay informed.

Scholarships for MS in Economics in USA

Funding options are available for international students pursuing an MS in Economics in USA, but many are competitive. Scholarships come from government bodies, universities, departments, and sometimes private donors. You can also apply for research or teaching assistant roles once admitted.

Types of Scholarships Available

Scholarship Type	Who Offers It	What It Covers
Merit-Based Scholarships	Offered by universities and economics departments	Full or partial tuition fee waivers
Need-Based Aid	Limited availability for international students	May cover tuition or living expenses
Research Assistantships (RA)	Departments or faculty members	Tuition + stipend in exchange for academic/research work
Teaching Assistantships (TA)	Economics or general departments	Covers fees + monthly allowance for teaching support roles
External Fellowships	Fulbright, AAUW, Inlaks Foundation, JN Tata Endowment	Tuition, travel, and sometimes full cost of attendance
University Grants	Graduate schools or international offices	One-time or renewable aid based on academic strength

Most assistantships are offered after admission. They often depend on department budgets and available research openings.

Popular Scholarships for MS in Economics in USA

Scholarship Name	Offered By	Highlights
Fulbright-Nehru Master's Fellowships	U.S. Department of State + USEFI	Full tuition, living costs, J-1 visa, travel allowance
Inlaks Shivdasani Foundation Scholarship	Inlaks Foundation (India)	Tuition + partial living expenses (up to $100,000)
AAUW International Fellowships	American Association of University Women	For women applicants; includes tuition and living aid
JN Tata Endowment Loan Scholarship	Tata Trusts (India)	Loan scholarships (up to ₹10 lakh) for higher education
Stanford Knight-Hennessy Scholars Program	Stanford University	Fully funded master’s program, includes leadership training
Graduate School Scholarships (NYU, Columbia, UCSD, etc.)	Individual universities	Merit-based awards ranging from $5,000 to full tuition

Some scholarships like Fulbright and Inlaks require a separate application up to 9–12 months before your course begins.

Tip: Always check if the economics department at your target university offers specific funding for international students. Some programs even list faculty-funded RA positions or course-specific fellowships on their site.

How to Apply for Scholarships

Most universities automatically consider applicants for merit aid
External scholarships need separate applications with earlier deadlines
Strong SOPs, GRE scores, and academic records improve chances
Assistantships are often awarded after admission, based on departmental needs

Looking for funding? Explore top Scholarships for MS in USA and How to Get Scholarships to Study in USA for Indian Students.

Career Opportunities After MS in Economics in USA

With an Master's in Economics in USA, one can get into high-value roles across sectors like consulting, finance, policy, tech, and international development. USA employers seek graduates who can work with data, analyze complex systems, and offer actionable insights for business or policy outcomes.

Here’s where most economics grads find career traction:

Popular Job Roles

Economic Analyst
Policy Research Associate
Financial Analyst or Investment Strategist
Data Scientist / Quantitative Analyst
Economic Consultant
Risk Analyst
Research Economist (Think Tanks or NGOs)
Public Policy Associate
International Trade Specialist
Business Intelligence Analyst

Where Do MS in Economics Graduates Work?

Industry	Typical Employers
Consulting	McKinsey, Boston Consulting Group, Cornerstone Research, NERA
Finance	Goldman Sachs, JPMorgan Chase, BlackRock, Federal Reserve Banks
Public Policy	Brookings Institution, IMF, World Bank, USA Government Departments
Tech/Data Analytics	Amazon, Google, Meta, Bloomberg, Capital One
Academia & Research	National Bureau of Economic Research, academic institutions

Average Salary Ranges

Experience Level	Annual Salary (USD)	Approx. INR
Entry-Level	$65,000 – $85,000	₹54 – ₹71 lakh
Mid-Level (3–5 yrs)	$90,000 – $120,000	₹75 – ₹1 crore
Senior Roles	$130,000+	₹1.1 crore and above

Graduates in STEM-designated programs with strong data skills often earn on the higher end of the range.

Cost of Studying MS in Economics in USA

Before applying to a Master's in Economics in USA, it’s important to plan your finances. USA tuition and living expenses vary based on location, university type, and personal choices. Scholarships, assistantships, and fellowships can ease the burden, especially for strong academic profiles.

Monthly Living Costs (City-wise Range)

City Type	Monthly Expense (USD)	Approx. INR
Tier-1 (NYC, SF, Boston)	$1,600 – $2,000	₹1.3 – ₹1.6 lakh
Tier-2 (Chicago, Seattle, DC)	$1,200 – $1,500	₹1 – ₹1.2 lakh
Tier-3 (College towns, Midwest)	$800 – $1,100	₹66,000 – ₹91,000

Rent is the biggest factor. Shared housing or on-campus options can lower overall costs.

Other Key Expenses

Category	Estimated Cost (USD)	Approx. INR
Student Visa (F-1 + SEVIS)	$535 total	₹44,940
Health Insurance	$1,000 – $1,800 per year	₹82,000 – ₹1.5 lakh
Flight (one-way)	$500 – $900	₹41,000 – ₹74,000
Books & Supplies	$500 – $800 per year	₹41,000 – ₹66,000

What Helps You Save?

Scholarships: Merit-based awards and external fellowships
Assistantships: Part-time work as a TA or RA with tuition benefits
Paid internships: Many programs offer CPT or co-op opportunities

You can also explore funding options listed by the economics department of your chosen university. Some offer automatic merit scholarships at the time of admission.

Planning your budget? This guide on Cost of MS in USA explains tuition, housing, and living expenses.

Work Visa Options After MS in Economics in USA

After completing a Master's in Economics in USA, international students can legally stay and work through Optional Practical Training (OPT) and later apply for long-term work visas like the H-1B. Planning ahead improves your chances of staying and building your career in USA.

OPT Timeline and Eligibility

Factor	Details
What is OPT?	12-month post-study work authorization for F-1 students
Who qualifies?	All international students with valid F-1 status
When to apply?	Within 90 days before or 60 days after program end
Start time	Typically within 3 months of graduation

If your economics program is STEM-designated (quantitative track), you can apply for a 24-month OPT extension.

H-1B Visa Process

Step	Details
Sponsored by employer	Must receive a full-time job offer from a USA-based company
When to apply	Typically during OPT period; lottery opens in March
Validity	Initially granted for 3 years, extendable to 6 years

Roles in data, analytics, and policy with tech or finance firms often qualify for H-1B.

Green Card or PR Possibilities

Pathway	How It Works
Employer Sponsorship	Start H-1B → employer files I-140 for permanent residency
Family Sponsorship	Available if a family member is a USA citizen or PR holder
National Interest Waiver	For researchers or public policy experts making large impact

Green Card processing can take several years, but many economics graduates working in STEM or policy roles begin this journey through long-term employment.

Visa planning? Get full clarity with Student Visa for USA and USA Study Visa Requirements.

Is Master's in Economics in USA Worth It?

If you’re aiming to build a career in economics, finance, data, or policy at a global level, a Master's in Economics in USA is an investment. The academic exposure, work opportunities, and long-term pathways make it a smart option for many Indian students.

Why It’s Worth Considering

Access to top-tier education and global faculty
Strong job roles in consulting, analytics, and economic policy
Starting salaries from $65,000–$85,000 per year (₹54–₹71 lakh approx.)
1–3 years of post-study work rights under OPT/STEM OPT
Clear track to H-1B and employer-based Green Card in many sectors

What to Keep in Mind

Costs are high; plan for tuition + living expenses (~₹35–₹50 lakh total)
Top jobs often require strong quant and communication skills
Assistantships and scholarships can reduce costs significantly
STEM tracks offer more flexibility for staying and working after graduation

In short: If you’re serious about economics as a long-term career, USA gives you a launchpad. The value grows with the right specialization, internships, and industry connections.

Need help finalizing your university or course? Book a free counseling session with an expert to plan your master's in USA the right way.