Why should you study economics in the U.S.?

Top universities and prestigious lecturers

The US is a gathering place of the world's top universities, always honored in the top global rankings. While studying economics here, you will have the opportunity to learn from prestigious professors, including prestigious Nobel Prize winners and influential researchers. Not only do they teach theory, but they also provide valuable practical experience, encouraging you to develop sharp and creative analytical thinking throughout your studies.

Flexible curriculum

The study program in the US is quite flexible, designed in accordance with the unique goals and interests of each student. You will not be limited to a rigid academic program but have the right to direct your educational path, pursuing areas that you are truly passionate about. In addition, many programs also encourage you to combine with complementary disciplines such as political science, finance or data science, equipping you with a variety of soft skills, a key factor to stand out in today's labor market.

In-depth research opportunities

One of the attractive factors when studying Economics in the US is the diverse and potential research opportunities. Universities not only focus on teaching the foundational knowledge, but also make it possible for you to engage in intensive research activities that are closely linked to government agencies, non-profit organisations and businesses..

Professional networking and open career opportunities

A degree in Economics from a university in the United States is not only an academic certificate, but also the key to opening countless career doors around the globe. Leading corporations around the world always prioritize looking for candidates with degrees from the United States. As a result, alumni who graduate from American universities often have a higher competitive advantage and the ability to achieve more attractive income levels than those with equivalent degrees from other countries.

Most universities possess a large and successful alumni community in many fields. This network gives you the opportunity to network, learn from those who came before you, and look for job opportunities after graduation.

Educational Requirements

For those of you who are pursuing a Bachelor's program, you need to meet the basic requirements including:

• High School Graduation

• IELTS 6.0/TOEFL 68

• Meet the health and financial conditions required by the school

The above score is the basic condition for you to be able to study the main courses at the university. However, if your English level does not meet this requirement, you can still enroll in the school's English courses to fully equip yourself with language skills before entering the formal curriculum.

Skill Requirements

To study Economics in the US, in addition to academic achievements, you also need to equip yourself with the right qualities such as:

• Analytical thinking and critical skills

• Skills in using mathematical and statistical tools

• Presentation of ideas, teamwork and discussion skills

• Ability to conduct independent research

• Time management skills and self-learning spirit

In the US, the specific tuition fee will vary depending on the regulations of each school, academic ranking, and the major you choose to study. When studying economics in the US, you need to have financial preparation suitable for your level of study and the characteristics of each school.

• Bachelor's Program: Tuition fees can range from 12,000 to 50,000 USD/year

• Graduate Programs (Master's, PhD): Tuition fees can range from $20,000 to $50,000 USD/year.

In addition to tuition fees, you need to prepare an annual living fee, estimated at between 23,000 and 45,000 USD/year. The cost of living will vary significantly depending on the city you choose to study in, the type of housing, and your spending habits. Major cities such as New York, Boston, and San Francisco often have a higher cost of living than other areas.

Here is a list of the top universities for teaching Economics programs in the US based on the US News 2025 rankings:

Harvard University

Harvard offers Economics training from bachelor's to doctoral degrees, covering a wide range of specialized fields such as theoretical economics, macroeconomics, microeconomics, financial economics, public economics, and behavioral economics.. Harvard also has close relationships with prestigious research institutions such as the National Bureau of Economic Research (NBER), providing opportunities for students and faculty to participate in top-notch projects and seminars.

Massachusetts Institute of Technology (MIT)

The Massachusetts Institute of Technology (MIT) is one of the world's leading centers for econometrics research and teaching, focusing on the development and application of statistical methods for analyzing economic data. While studying here, you will be taught by many of the world's leading economists, including many Nobel Prize winners in Economics, such as Abhijit Banerjee and Esther Duflo (winners of the prize for their work on poverty reduction), and Daron Acemoglu (winner of economic growth and political economy).

Stanford University

The Economics program at Stanford University is designed to suit a variety of career paths, from those who want to pursue in-depth studies to those who want to work in Business, Law, Health, or Government. One of the differentiators in the field of study at Stanford is the high interdisciplinarity. Members of the Faculty of Economics regularly collaborate closely with researchers from the medical school, the business school, and many other faculties within the university.

University of California-Berkeley

Studying Economics in the U.S. at the University of California - Berkeley equips you with a broad and in-depth knowledge of economic principles, from economic history to advanced micro and macroeconomics. Located in the dynamic San Francisco Bay Area, the epicenter of innovation and technology, UC Berkeley gives you access to a wide range of startups, major technology corporations, and important economic organizations. This facilitates the process of internships, research and building professional networks in the future.

University of Chicago

The Economics program at the University of Chicago focuses on equipping you with a solid and comprehensive foundation in economic theory. The university encourages students to develop critical thinking and independent research skills right from the undergraduate level. The University of Chicago also has many prestigious research centers and institutes, providing opportunities for students to participate in diverse applied research projects.

Studying economics in the US not only gives you a solid foundation of knowledge but also opens up countless attractive career opportunities. International students can participate in the OPT (Optional Practical Training) program, allowing them to work in the U.S. for 1-3 years after graduation. The duration of the OPT program will depend on your level of study and field of study.

With a degree from a country with the world's leading economy, you will have a great competitive advantage in the global labor market. You can try your hand at areas such as

• Economic Analyst: With your skills in data analysis and economic forecasting, you can work for companies, government organizations, or research institutes to make assessments and recommendations on economic issues.

• Market Research Analyst: An understanding of consumer behavior and market trends will help you succeed in a market analyst role for advertising, marketing, and retail companies.

• Management Consultant: With solid economic knowledge, you can help businesses improve operational efficiency, develop strategies, and manage change.

• Risk Analyst: Financial and insurance companies are always in need of experts who are able to assess and manage financial risks.

• Accountant and Auditor: Ensuring transparency and accuracy in a business's financial statements is an important role in the economy.

• International Business: In the context of globalization, international business professionals are always in high demand.

• Lecturer and Researcher: If you have a passion for academics, you can pursue a career in teaching at universities or research at economic institutes.

The starting salary for economics graduates in the US can fluctuate depending on the location, experience, and work location. However, according to statistics, the average starting salary is usually in the range of $67,000 - $70,000 USD/year and has the potential to grow with time and work experience.

Plan to study in the US with IDP in Economics

Studying economics in the U.S. can be a challenging journey, but with thorough preparation and support from IDP, you can make your dream of studying abroad a reality. IDP not only advises you on all the details of top universities and suitable study programs, but also supports you every step of the way in the process of preparing your study abroad application, applying for a student visa, finding housing, or registering for the IELTS test.

You can also attend IDP study abroad seminars held throughout the year to meet with university representatives in person, hunt for study abroad scholarships, and review applications on the spot. In addition, you can also experience the IDP Live app with the unique Fastlane feature, which helps you quickly receive an in-principle admission letter from 1023 courses in minutes.

Sign up for a consultation with IDP today!