Top Economics Programs (US)

The United States is home to some of the world’s most prestigious universities, particularly in the field of economics. The U.S. News & World Report rankings for 2010 placed four institutions—Harvard University, the Massachusetts Institute of Technology (MIT), Princeton University, and the University of Chicago—at the top of the economics field, ranking them all as joint first. These universities have long been recognized for their intellectual rigor, groundbreaking research, and influence in shaping global economic thought. In addition, Stanford University rounded out the top five, continuing to build its reputation as one of the world’s foremost institutions for economics. The rankings reflect the outstanding contributions these institutions have made to both the theory and practice of economics, as well as their capacity to attract the brightest students and faculty to continue advancing the field.

Harvard University, consistently ranked among the best for economics, holds a central place in the global academic landscape. The Department of Economics at Harvard is one of the most distinguished and influential in the world. Known for its stellar faculty, many of whom are Nobel laureates or recipients of other prestigious awards, Harvard’s economics program covers a wide range of topics, from macroeconomics and microeconomics to econometrics, international trade, and development economics. The department’s strength lies not only in its research output but also in its interdisciplinary approach, where economics intersects with political science, history, law, and other fields to address complex global challenges. Harvard’s vast research network, including its numerous research centers like the Institute for Quantitative Social Science (IQSS) and the National Bureau of Economic Research (NBER), further enhances its reputation as a leader in economics research.

The graduate program at Harvard is particularly well-regarded for its rigorous training and its emphasis on producing original research. Students have the opportunity to work closely with faculty members on research projects that shape the future of economic theory and policy. Harvard also fosters a collaborative intellectual environment, allowing students to interact with leading scholars from other disciplines and gain a holistic understanding of the world’s economic systems. In addition to its academic rigor, Harvard’s location in Cambridge, Massachusetts, provides students with access to a vibrant network of policymakers, financial institutions, and international organizations, further enhancing the university’s influence on the global economic stage.

Just as Harvard is a dominant force in economics, the Massachusetts Institute of Technology (MIT) also holds a joint first place ranking in the U.S. News & World Report 2010 rankings. MIT’s Department of Economics is known for its strong focus on mathematical modeling, empirical research, and quantitative analysis. With a particular emphasis on using economic theory to solve real-world problems, MIT has long been recognized as a leader in areas such as microeconomic theory, game theory, labor economics, and industrial organization. The department’s faculty includes some of the world’s leading economists, many of whom have been recognized with Nobel Prizes and other prestigious accolades for their contributions to economic thought.

MIT’s graduate program in economics is known for its intensity and selectivity. Students are expected to engage with complex economic theories and models, while also applying their knowledge to empirical research. The university’s interdisciplinary approach encourages students to collaborate with other departments, including the Sloan School of Management, to address a wide range of economic issues. In particular, MIT’s emphasis on quantitative techniques and its strong research centers, such as the National Bureau of Economic Research (NBER) and the Institute for Data, Systems, and Society (IDSS), provide students with cutting-edge tools and resources to tackle global economic challenges. MIT’s faculty is deeply involved in shaping public policy, working closely with governments, corporations, and international organizations, providing students with unique opportunities to bridge the gap between theory and practice.

Princeton University, also ranked joint first, is another powerhouse in the field of economics, known for its strong theoretical foundation and empirical research in areas such as macroeconomics, econometrics, and international economics. The Department of Economics at Princeton is home to many renowned scholars who have made lasting contributions to economic theory. Nobel laureates such as Paul Krugman and Angus Deaton are affiliated with the department, and their work continues to shape the way economists think about international trade, economic development, and poverty. Princeton’s smaller size compared to other top institutions allows for a more intimate academic environment, where students benefit from close mentorship and personalized attention from faculty.

Princeton’s economics Ph.D. program is designed to provide students with a deep understanding of economic theory, with the flexibility to specialize in a wide range of fields, including international economics, development economics, and public finance. The university’s focus on interdisciplinary research allows students to engage with other departments, such as political science and sociology, to develop a broader perspective on economic issues. Princeton’s faculty is also deeply engaged in policy work, regularly advising governments, international organizations, and think tanks. This connection between academia and policymaking ensures that Princeton’s students are equipped with both the theoretical foundations and practical insights necessary to influence global economic policy.

The University of Chicago, also ranked joint first, is synonymous with the Chicago School of Economics, which advocates for free markets and minimal government intervention in the economy. The university’s economics department has produced some of the most influential economists in history, including Milton Friedman, George Stigler, and Gary Becker. The department is known for its rigorous focus on empirical research and its application of economic theory to real-world issues, particularly in the fields of monetary economics, law and economics, and market theory. Chicago’s faculty members have had a profound influence on both the academic study of economics and the development of economic policy.

The University of Chicago’s Ph.D. program in economics is known for its intellectual rigor and its emphasis on both theoretical analysis and empirical research. The program attracts top students from around the world who are interested in applying economic principles to address global challenges. Chicago’s commitment to the rigorous application of economic theory has made it a leading institution for students interested in areas such as public economics, development economics, and industrial organization. Additionally, the university’s location in the heart of Chicago, a global hub for finance and policy, provides students with access to a wealth of resources and networking opportunities that enhance their academic and professional development.

Lastly, Stanford University, ranked fifth in the U.S. News & World Report 2010 rankings, remains one of the top economics departments in the United States. Known for its interdisciplinary approach, Stanford’s economics department emphasizes the application of economic theory to solve real-world problems. The university’s faculty is recognized for its work in microeconomic theory, behavioral economics, development economics, and environmental economics. One of Stanford’s distinguishing features is its location in Silicon Valley, which offers students unique opportunities to engage with the tech industry and to explore the intersection of economics and technology.

Stanford’s graduate program in economics attracts some of the brightest minds from around the world, providing them with rigorous training in economic theory and empirical methods. The university’s focus on interdisciplinary studies allows students to collaborate with scholars from other fields, such as law, business, and political science, to develop innovative solutions to pressing economic issues. Stanford’s commitment to research excellence, combined with its strong ties to the technology sector, makes it an ideal destination for students interested in the economics of innovation, entrepreneurship, and market design.

Top 25 Economics Programs in US:
1 Harvard University Cambridge, MA
1 Massachusetts Institute of Technology Cambridge, MA
1 Princeton University Princeton , NJ
1 University of Chicago Chicago, IL
5 Stanford University Stanford, CA
6 University of California--Berkeley Berkeley, CA
6 Yale University New Haven, CT
8 Northwestern University Evanston, IL
9 University of Pennsylvania Philadelphia, PA
10 Columbia University New York, NY
10 University of Minnesota--Twin Cities Minneapolis, MN
12 New York Univ New York, NY
12 Uni of Michigan--Ann Arbor Ann Arbor, MI
14 California Institute of Technology Pasadena, CA
14 Uni of California--Los Angeles Los Angeles, CA
14 Uni of California--San Diego La Jolla, CA
14 Uni of Wisconsin--Madison Madison, WI
18 Cornell Univ Ithaca, NY
19 Brown Univ Providence, RI
19 Carnegie Mellon Univ (Tepper) Pittsburgh, PA
19 Duke Univ Durham, NC
22 Uni of Maryland--College Park College Park, MD
22 Uni of Rochester Rochester, NY
24 Boston Univ Boston, MA
25 Johns Hopkins Univ Baltimore, MD
25 Univ of Texas--Austin Austin, TX

Source: US News & World Report 2010