by our College Data Analytics TeamFor its 2025 ranking, College Factual looked at 18 schools in the Great Lakes Region to determine which ones were the best for economics students pursuing a master's degree. Combined, these schools handed out 877 master's degrees in economics to qualified students.
Jump to one of the following sections: * Our Methodology
The economics master's degree program you select can have a big impact on your future. This section explores some of the factors we include in our ranking and how much they vary depending on the school you select. When choosing a school we recommend considering some of the following factors:
A school that excels in educating for a particular major and degree level must be a great school overall as well. To make it into this list a school must rank well in our overall Best Colleges for a Master's Degree ranking. This ranking considered factors such as graduation rates, overall graduate earnings and other educational resources to identify great colleges and universities.
To determine the overall quality of a graduate school, one factor we look at is the average early-career salary of those receiving their master's degree from the school. This is because one of the main reasons people pursue their master's degree is to enable themselves to find better-paying positions.
In addition to the above, you should consider some of the following factors:
Our complete ranking methodology documents in more detail how we consider these factors to identify the best colleges for economics students working on their master's degree.
Since picking the right college can be one of the most important decisions of your life, we've developed the Best Economics Master's Degree Schools in the Great Lakes Region ranking, along with many other major-related rankings, to help you make that decision.
The following list ranks the best colleges and universities for pursuing a master's degree in economics.
It is hard to beat Northwestern University if you want to pursue a master's degree in economics. Northwestern is a fairly large private not-for-profit university located in the city of Evanston.More information about a master’s in economics from Northwestern University
It's difficult to beat University of Chicago if you wish to pursue a master's degree in economics. Located in the large city of Chicago, UChicago is a private not-for-profit university with a large student population.More information about a master’s in economics from University of Chicago
Every student who is interested in a master's degree in economics has to look into University of Michigan - Ann Arbor. U-M is a very large public university located in the medium-sized city of Ann Arbor.More information about a master’s in economics from University of Michigan - Ann Arbor
Every student who is interested in a master's degree in economics has to check out University of Notre Dame. Located in the large suburb of Notre Dame, Notre Dame is a private not-for-profit university with a large student population.More information about a master’s in economics from University of Notre Dame
Located in the small city of Champaign, UIUC is a public university with a fairly large student population.More information about a master’s in economics from University of Illinois at Urbana-Champaign
Located in the city of Madison, UW - Madison is a public university with a fairly large student population.
Master's graduates who receive their degree from the economics program earn about $73,951 in their early career salary.
More information about a master’s in economics from University of Wisconsin - Madison
Purdue is a fairly large public university located in the city of West Lafayette.More information about a master’s in economics from Purdue University - Main Campus
Ohio State is a very large public university located in the large city of Columbus.
Master's graduates who receive their degree from the economics program make about $71,107 in the first couple years of working.
More information about a master’s in economics from Ohio State University - Main Campus
Miami University - Oxford is a large public university located in the fringe town of Oxford.More information about a master’s in economics from Miami University - Oxford
UC is a very large public university located in the large city of Cincinnati.
Economics master's degree recipients from University of Cincinnati - Main Campus get an earnings boost of around $3,176 above the typical earnings of economics graduates.
More information about a master’s in economics from University of Cincinnati - Main CampusExplore the best economics schools for a specific state in the Great Lakes Region .
One of 13 majors within the Social Sciences area of study, Economics has other similar majors worth exploring.
| Major | Annual Graduates |
|---|---|
| Econometrics & Quantitative Economics | 725 |
| General Economics | 64 |
| Applied Economics | 62 |
| Development Economics & International Development | 19 |
| Other Economics | 7 |
| Related Major | Annual Graduates |
|---|---|
| General Social Sciences | 725 |
| Political Science & Government | 246 |
| Sociology | 188 |
| International Relations & National Security | 146 |
| Geography & Cartography | 135 |
| Anthropology | 101 |
| Other Social Sciences | 28 |
| Urban Studies | 13 |
| Archeology | 2 |