50 Best MBA Programs in Economics in 2025

MBA Programs in Economics
Tuition, ROI, Graduate Salary, GMAT Requirements

10 Best Ranked | Interactive Table | Salaries | Tuition | ROI | GMAT | Alumni Networking | How We Rank

Executive Summary for MBA Programs in Economics MBA Programs

The ranking team at MBAGuide.org, evaluated 218 Economics MBA programs. Here is a summary of our comprehensive findings. Explore the details about the Economics MBA, compare schools, find states and cities where the degree is offered.

1. Comprehensive comparisons, data and analysis – MBAGuide conducted an in-depth analysis of 218 AACSB-accredited campus MBA programs in Economics to find the top programs in the country.
2. Ranking metrics you care about – such as average starting salaries, tuition fees, return on investment (ROI), GMAT scores, alumni networks, student-to-faculty ratios, and more with no paywall.
3. Detailed school profiles of Economics MBA programs their strengths, faculty expertise, alumni networks to help align your program choice

Best 10 MBA Programs in Economics

Harvard University

Harvard Business School

Location:

• Boston

,

• MA

Control: Private for-profit

Academic Year: Quarter

Accredited: AACSB

Accreditation: Business

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• Tuition: $149,820
• Graduate Salary: $175,000
• Graduate ROI: 17%
• GMAT Required: Yes
• Avg. GMAT: 730
• Student / Faculty Ratio: 7:1
• Enrollment: 1945

Degree Level(s):

• Doctoral
• ·
• MBA

Offered As:

• Campus
• ·
• Full-Time

• Concentrations: 24

• Consulting
• Data Analytics
• E-Commerce
• Economics
• Entrepreneurship
• Ethics
• Finance
• General Business
• Healthcare Administration
• Human Resources
• Information Systems
• Leadership
• Management
• Marketing
• Nonprofit
• Organizational Behavior
• Public Administration
• Real Estate
• Science and Technology
• Sports Management
• Statistics
• Supply Chain
• Taxation

• Best in:

• Best MBA or Masters Program in Massachusetts
• Best Concentration Finance
• Best Concentration Entrepreneurship Development Program
• Best Concentration Statistics
• Best Concentration Sports Management

• Rankings

• City Rank: 1
• State Rank: 1
• National Rank: 3
• Online Rank: Not Ranked

• Top 10% in State: ROI, Tuition
• Better than State Average: GMAT
• Better than National Average: Student / Faculty Ratio

Northwestern University

Kellogg School of Management

Location:

• Evanston

,

• IL

Control: Private for-profit

Academic Year: Quarter

Accredited: AACSB

Accreditation: Business

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• Tuition: $162,030
• Graduate Salary: $175,000
• Graduate ROI: 8%
• GMAT Required: Yes
• Avg. GMAT: 729
• Student / Faculty Ratio: 8:1
• Enrollment: 3074

Degree Level(s):

• Doctoral
• ·
• E-MBA
• ·
• MBA

Offered As:

• Campus
• ·
• Full-Time

• Concentrations: 20

• Accounting
• Communications
• Data Analytics
• E-Commerce
• Economics
• Entrepreneurship
• Finance
• Financial Management
• General Business
• Healthcare Administration
• Information Systems
• Leadership
• Management
• Marketing
• Organizational Behavior
• Public Administration
• Real Estate
• Science and Technology
• Statistics
• Sustainability

• Best in:

• Best MBA or Masters Program in illinois
• Best Concentration Finance
• Best Concentration Entrepreneurship Development Program
• Best Concentration Statistics
• Best Concentration Healthcare Administration

• Rankings

• City Rank: 1
• State Rank: 1
• National Rank: 6
• Online Rank: Not Ranked

• Top 10% in State: ROI, Tuition
• Better than State Average: GMAT
• Better than National Average: Student / Faculty Ratio

University of South Carolina

Darla Moore School of Business

Location:

• Columbia

,

• SC

Control: Public

Academic Year: Semester

Accredited: AACSB

Accreditation: Business and Accounting

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• Tuition: $26,485
• Graduate Salary: $97,819
• Graduate ROI: 269%
• GMAT Required: Yes
• Avg. GMAT: 670
• Student / Faculty Ratio: 17:1
• Enrollment: 6369

Degree Level(s):

• Doctoral
• ·
• E-MBA
• ·
• Master
• ·
• MBA
• ·
• Undergraduate

Offered As:

• 1-Year
• ·
• Campus
• ·
• Distance Education
• ·
• Evenings
• ·
• Full-Time
• ·
• Off Campus
• ·
• Part-Time
• ·
• Partnership
• ·
• Weekends

• Concentrations: 19

• Accounting
• Corporate Finance
• Data Analytics
• Economics
• Finance
• General Business
• Global Management
• Human Resources
• Information Systems
• Insurance
• International Business
• Management
• Marketing
• Operations Management
• Organizational Behavior
• Other
• Real Estate
• Supply Chain
• Taxation

• Best in:

• Most Affordable Online MBA or Masters in Most Affordable Online MBA
• Best MBA or Masters Program in South Carolina
• Best MBA or Masters Emerging Leadership Program - 1 Year MBA Programs
• Best Concentration Marketing
• Best Concentration Insurance

• Rankings

• City Rank: 1
• State Rank: 1
• National Rank: 11
• Online Rank: Not Ranked

• Top 10% in State: ROI, Tuition
• Better than State Average: GMAT
• Better than National Average: Student / Faculty Ratio

Columbia University

Columbia Business School

Location:

• New York

,

• NY

Control: Private

Academic Year: Semester

Accredited: AACSB

Accreditation: Business

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• Tuition: $176,600
• Graduate Salary: $162,099
• Graduate ROI: -8%
• GMAT Required: Yes
• Avg. GMAT: 732
• Student / Faculty Ratio: 6:1
• Enrollment: 4036

Degree Level(s):

• Doctorial
• ·
• E-MBA
• ·
• Master
• ·
• MBA

Offered As:

• Campus
• ·
• Full-Time

• Concentrations: 13

• Accounting
• Economics
• Entrepreneurship
• Ethics
• Healthcare Administration
• Information Systems
• Leadership
• Management
• Marketing
• Nonprofit
• Operations Management
• Real Estate
• Science and Technology

• Best in:

• Best MBA or Masters Program in New York
• Best Concentration Entrepreneurship Development Program
• Best Concentration Healthcare Administration
• Best Concentration Operations Management
• Best Concentration Science and Technology

• Rankings

• City Rank: 1
• State Rank: 1
• National Rank: 15
• Online Rank: Not Ranked

• Top 10% in State: ROI, Tuition
• Better than State Average: GMAT
• Better than National Average: Student / Faculty Ratio

The University of Iowa

Tippie College of Business

Location:

• Iowa City

,

• IA

Control: Public

Academic Year: Semester

Accredited: AACSB

Accreditation: Business and Accounting

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• Tuition: $23,453
• Graduate Salary: $112,820
• Graduate ROI: 381%
• GMAT Required: Optional
• Avg. GMAT: 650
• Student / Faculty Ratio: 17:1
• Enrollment: 5226

Degree Level(s):

• Doctoral
• ·
• Master
• ·
• MBA
• ·
• Undergraduate

Offered As:

• Campus
• ·
• Evenings
• ·
• Full-Time
• ·
• Off Campus
• ·
• Part-Time
• ·
• Partnership
• ·
• Weekends

• Concentrations: 15

• Accounting
• Communications
• Corporate Finance
• Data Analytics
• Economics
• Entrepreneurship
• Finance
• General Business
• Global Management
• Information Systems
• Insurance
• International Business
• Leadership
• Management
• Marketing

• Best in:

• Most Affordable Online MBA or Masters in Most Affordable Online MBA
• Best MBA or Masters Program in Iowa
• Best MBA or Masters Accredited Campus MBA Programs No GMAT Required
• Best Concentration Insurance
• Best Concentration International Business

• Rankings

• City Rank: 1
• State Rank: 1
• National Rank: 21
• Online Rank: Not Ranked

• Top 10% in State: ROI, Tuition
• Better than State Average: GMAT
• Better than National Average: Student / Faculty Ratio

Stanford University

Graduate School of Business

Location:

• Stanford

,

• CA

Control: Private

Academic Year: Quarter

Accredited: AACSB

Accreditation: Business

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• Tuition: $165,591
• Graduate Salary: $182,272
• Graduate ROI: 10%
• GMAT Required: Yes
• Avg. GMAT: 737
• Student / Faculty Ratio: 4:1
• Enrollment: 1090

Degree Level(s):

• Doctoral
• ·
• Master
• ·
• MBA

Offered As:

• Campus
• ·
• Full-Time

• Concentrations: 11

• Accounting
• Corporate Finance
• Economics
• Education
• Finance
• General Business
• Insurance
• Management
• Marketing
• Organizational Behavior
• Other

• Best in:

• Best MBA or Masters Program in California
• Best Concentration Insurance
• Best Concentration Economics
• Best Concentration Education
• Best DBA Program in Each State

• Rankings

• City Rank: 1
• State Rank: 2
• National Rank: 22
• Online Rank: Not Ranked

• Top 10% in State: ROI, Tuition
• Better than State Average: GMAT
• Better than National Average: Student / Faculty Ratio

University of California, Berkeley

Haas School of Business

Location:

• Berkeley

,

• CA

Control: Public

Academic Year: Semester

Accredited: AACSB

Accreditation: Business

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• Tuition: $139,628
• Graduate Salary: $152,831
• Graduate ROI: 9%
• GMAT Required: Yes
• Avg. GMAT: 729
• Student / Faculty Ratio: 19:1
• Enrollment: 3068

Degree Level(s):

• Doctoral
• ·
• E-MBA
• ·
• Master
• ·
• MBA
• ·
• Undergraduate

Offered As:

• Evenings
• ·
• Full-Time
• ·
• Part-Time
• ·
• Weekends

• Concentrations: 22

• Consulting
• Data Analytics
• E-Commerce
• Economics
• Entrepreneurship
• Ethics
• Finance
• General Business
• Healthcare Administration
• Information Systems
• International Business
• Leadership
• Management
• Manufacturing
• Marketing
• Nonprofit
• Operations Management
• Public Administration
• Quantitative Methods
• Real Estate
• Science and Technology
• Supply Chain

• Best in:

• Best MBA or Masters Program in California
• Best Concentration Entrepreneurship Development Program
• Best Concentration Operations Management
• Best Concentration Science and Technology
• Best Concentration International Business

• Rankings

• City Rank: 1
• State Rank: 3
• National Rank: 23
• Online Rank: Not Ranked

• Top 10% in State: ROI, Tuition
• Better than State Average: GMAT
• Better than National Average: Student / Faculty Ratio

University of Pennsylvania

The Wharton School

Location:

• Philadelphia

,

• PA

Control: Private for-profit

Academic Year: Quarter

Accredited: AACSB

Accreditation: Business

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• Tuition: $179,852
• Graduate Salary: $166,391
• Graduate ROI: -7%
• GMAT Required: Yes
• Avg. GMAT: 733
• Student / Faculty Ratio: 8:1
• Enrollment: 3468

Degree Level(s):

• Doctoral
• ·
• MBA
• ·
• Undergraduate

Offered As:

• Full-Time

• Concentrations: 10

• Accounting
• Data Analytics
• Economics
• Entrepreneurship
• Finance
• Healthcare Administration
• Insurance
• Management
• Public Administration
• Sustainability

• Best in:

• Best MBA or Masters Program in Pennsylvania
• Best Concentration Insurance
• Best Concentration Sustainability
• Best Concentration Economics
• Best DBA Program in Each State

• Rankings

• City Rank: 1
• State Rank: 1
• National Rank: 26
• Online Rank: Not Ranked

• Top 10% in State: ROI, Tuition
• Better than State Average: GMAT
• Better than National Average: Student / Faculty Ratio

University of Florida

Warrington College of Business

Location:

• Gainesville

,

• FL

Control: Public

Academic Year: Semester

Accredited: AACSB

Accreditation: Business and Accounting

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• Tuition: $26,473
• Graduate Salary: $117,197
• Graduate ROI: 343%
• GMAT Required: Yes
• Avg. GMAT: 690
• Student / Faculty Ratio: 33:1
• Enrollment: 8008

Degree Level(s):

• Doctoral
• ·
• E-MBA
• ·
• Master
• ·
• MBA
• ·
• Undergraduate

Offered As:

• 1-Year
• ·
• Campus
• ·
• Distance Education
• ·
• Evenings
• ·
• Full-Time
• ·
• Off Campus
• ·
• Online
• ·
• Part-Time
• ·
• Partnership
• ·
• Weekends

• Concentrations: 16

• Accounting
• Corporate Finance
• Data Analytics
• Economics
• Entrepreneurship
• Finance
• General Business
• Global Management
• Human Resources
• International Business
• Management
• Marketing
• Operations Management
• Real Estate
• Supply Chain
• Taxation

• Best in:

• Most Affordable Online MBA or Masters in Florida
• Most Affordable Online MBA or Masters in Most Affordable Online MBA
• Best MBA or Masters Program in Florida
• Best Online MBA or Masters in Florida
• Best MBA or Masters Emerging Leadership Program - 1 Year MBA Programs

• Rankings

• City Rank: 1
• State Rank: 1
• National Rank: 30
• Online Rank: 13

• Top 10% in State: ROI, Tuition
• Better than State Average: GMAT
• Better than National Average: Student / Faculty Ratio

Carnegie Mellon University

Tepper School of Business

Location:

• Pittsburgh

,

• PA

Control: Private

Academic Year: Quarter

Accredited: AACSB

Accreditation: Business

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• Tuition: $147,456
• Graduate Salary: $148,067
• Graduate ROI: 0%
• GMAT Required: Yes
• Avg. GMAT: 702
• Student / Faculty Ratio: 9:1
• Enrollment: 1924

Degree Level(s):

• Doctoral
• ·
• Master
• ·
• MBA
• ·
• Undergraduate

Offered As:

• Campus
• ·
• Distance Education
• ·
• Full-Time
• ·
• Online
• ·
• Part-Time

• Concentrations: 16

• Accounting
• Corporate Finance
• Data Analytics
• Economics
• Energy
• Finance
• General Business
• Information Systems
• Marketing
• Operations Management
• Organizational Behavior
• Other
• Product Management
• Quantitative Methods
• Science and Technology
• Sustainability

• Best in:

• Best MBA or Masters Program in Pennsylvania
• Best Online MBA or Masters in Pennsylvania
• Best Concentration Science and Technology
• Best Concentration Product Management
• Best Concentration Sustainability

• Rankings

• City Rank: 1
• State Rank: 2
• National Rank: 31
• Online Rank: 14

• Top 10% in State: ROI, Tuition
• Better than State Average: GMAT
• Better than National Average: Student / Faculty Ratio

Interactive Table of the Best Ranked MBA Programs in Economics

Easily sort the interactive table below to find the best Economics MBA programs by Rank, School Name, ROI, Tuition, Average Starting Salary, and Campus or Online to find and to compare MBA programs in Economics. Click on any school for a comprehensive school profile.

An MBA program in Economics will cost you between $7,458.00 to $179,852.00.

• Number of Programs Offering Economics MBAs: 218
• Average GMAT Score for Economics MBA Programs: 563
• Average In-State Tuition for Economics MBA Programs: $39,143.74
• Average Graduate Salary for Economics MBA Programs: $80,504
• Average ROI for Economics MBA Programs: 198%

Compare Economics MBA Program Averages vs Campus

Read about our ranking methodology.

What is the Average MBA Salary for Economics Graduates?

Though it’s not the only factor, compensation is an important consideration for individuals considering obtaining an MBA degree. Salaries for graduates with master’s degrees in Economics can be significantly higher than those of graduates with only a bachelor’s degree. In addition, advance salary projections from the US Department of Labor show that average MBA salaries are expected to increase by 13.5% each year through the year 2028 with an annual need of 99,000 new managers needed each year.

MBA salaries differs wildly depending on the program you chose, the industry you enter and the experience you have. After earning an MBA from Grambling State University, the average MBA graduate annual salary is $39,900 . A degree from Stanford University, will provide an annual salary of $182,272.

Average MBA starting salary for graduates from accredited programs is $80,504 with the lowest of starting of $39,900 and the highest reported starting salary of $182,272.

Average Graduate Salaries for In-Person Economics MBA Programs

• Average Economics: $80,504
• Lowest Economics: $39,900
• Highest Economics: $182,272

Average Salary for Graduate of MBA Programs in Economics Programs – Interactive Table

Easily sort the interactive table below to find the best Economics MBA programs by Starting Salary, and Campus or Online to find and to compare MBA programs in Economics. Click on any school for a comprehensive school profile.

What is the Average In-Person MBA Tuition for Economics Programs?

If you plan on attending an MBA program, it’s best to start thinking about fiscal responsibility. A prospective B-Student needs to weigh their tuition options. An AACSB-accredited MBA program can pave the way for a great starting salary or career advancement. An MBA program can provide the flexibility of completing a program while being employed in your respective career.

The average in-state tuition for an MBA in Economics is $39,143.74 compared to an average campus program Economics is $39,143.74 .

The lowest AACSB tuition rate at $7,458.00 from Indiana University Northwest.

The highest AACSB tuition rate is $179,852.00 from University of Pennsylvania.

Average Tuition for In-Person MBA Programs in Economics

• Average: $39,143.74
• Lowest: $7,458.00 from Indiana University Northwest
• Highest: $179,852.00 from University of Pennsylvania

Interactive Table – Tuition for MBA Programs in Economics Programs

Easily sort the interactive table below to find the best Economics MBA programs by Tuition to find and to compare MBA programs in Economics. Click on any school for a comprehensive school profile.

What is the Average ROI for MBA Programs in Economics?

Choosing an MBA program requires more than a glance at the school’s reputation or curriculum. The return on investment (ROI) should take center stage in your evaluation. This measurement reveals the potential value derived from your tuition investment, putting key factors such as starting salary and career progression under the microscope.

By scrutinizing the ROI, you’re not just making a decision—you’re making an informed one. This approach will ensure the selection of an MBA program that provides the most bang for your buck. Checking the ROI might not be an afterthought; it could be the game-changer in your MBA journey.

For MBA programs in across the U.S., the ROI ranges from -39% to 1,033%.The lowest MBA ROI of -39% is from the program at The University of Tampa.The highest MBA ROI of 1,033% is offered by Tennessee State University.On average, MBA programs across the U.S. have an ROI of 186%.

Interactive Table – ROI for MBA Programs in Economics Programs

Easily sort the interactive table below to find the best Economics MBA programs by ROI to find and to compare MBA programs in Economics. Click on any school for a comprehensive school profile.

ROI for MBA Programs

• Average: 186%
• Lowest: -39%
• Highest: 1,033%

What is the Average GMAT Score Needed for an MBA Program in Economics?

The Graduate Management Admission Test (GMAT) is a standardized examination used by MBA schools to assess their applicant pool. The test is strategically designed to measure an applicant’s analytical, verbal, writing and mathematical skills. The GMAT is used as a predictor of success in MBA programs and tests one’s ability to successfully handle the advanced quantitative and qualitative study of business and management.

Even though some B-Schools may not require a GMAT Scores, there’s a good chance that a highly-competitive MBA program does require the GMAT. With that being said, average GMAT Scores for in-person MBA programs in Economics is 563 with a highest of 737 and the lowest of 318

The average GMAT score needed for a Economics MBA program from an institution is between 318 from Clark Atlanta University to 737 from Stanford University. The average GMAT scores for Economics MBA programs is 563.

It’s important to note that not all MBA programs require a GMAT Score for admissions, but most reputable programs do. With that being said, if you have your eye on a list of competitive programs, it’s best to boost your GMAT Score accordingly. Outside of a solid GMAT Score, B-School admissions departments look at a candidate’s undergraduate GPA, professional experience, letters of recommendation, CV, and personal statement. A strong undergraduate performance may offset a sub-part GMAT Score. The average GMAT Score for on-campus MBA programs in Economics is a 562.72 compared to an average MBA program score of 562.72. It is recommended that each B-School applicant take a GMAT diagnostic test in order to determine whether or not further study and/or a prep course is needed to boost your score.

Average GMAT Score for MBA Programs in Economics

• Average: 563
• Lowest: 318
• Highest: 737

No GMAT or GRE: Best MBA Programs in Economics

More than 233 AACSB accredited MBA programs do not require their applicants to take GMAT exam. Many well-known programs such as the University of Michigan and the University of California, Los Angeles no longer require the exam. If you are unsure where you would like to take your program, then you should take the GMAT sooner rather than later so you don’t lose time meeting the score requirement of a program.

Alumni from Schools Offering an MBA in Economics

There are pros and cons when considering the size of your MBA in Accounting program. Larger, more diverse student populations, may lend itself to greater networking and job placement opportunities; whereas smaller programs may provide for more meaningful interactions with fellow classmates.

The importance of networking, whether it’s by way of campus job fairs, student organization members, or faculty mentorship, should not be understated when considering an MBA program. The average MBA enrollment size has a direct impact on your studies, your job prospects, your ability to define your career goals and after graduation connections.

Every B-School has a strategy behind their enrollment sizes. If a prospective B-Student is looking for networking opportunities, wants to attend job fairs, and plans on joining student organizations, B-School enrollment size plays an important role in the decision making process. For the B-Student interested in the smaller cohort-style classroom experience and thrive with face-to-face collaboration with their professors, a manageable enrollment size is the preferred option.

For Economics MBA programs, the range for full-time enrollment is between 6 and 1,770. For part-time enrollment, the range is between : 2.00 and : 3,008.00.

Average Enrollment for MBA Programs Offering an MBA in Economics

• Lowest: 6 from The College of New Jersey
• Highest: 1,770 from Washington University in St. Louis
• Average: 236 from 218 MBA Programs.

Student / Faculty Ratio for MBA Programs in Economics

For most students, their professors are the first exposure to the business world. They are normally practitioners in the field and have successful risen to the top of their respective careers. B-School Economics Professors can guide you toward a specific concentration, provide the latest industry trends, and put you on the right track, career-wise. The Student/Faculty ratio is important to those interested in building a lasting relationship with their professor. To use them as a networking opportunity and an advisor.

Top 10 Concentrations Available from Schools Also Offering an Degree in Economics?

Highly competitive B-Schools recruit part-time and full-time professors that are both academic and industry influencers. They are the subject matter experts in their respective concentrations. To meet the diverse needs of Economics businesses, MBA programs here have risen to the challenge by offering you an array of more than 47 MBA concentrations including:

• Economics: 215
• Accounting: 207
• Finance: 201
• Marketing: 198
• General Business: 197
• Management: 196
• Corporate Finance: 189
• Data Analytics: 145
• Information Systems: 138
• International Business: 118

Here are the top schools offering the widest variety of concentrations to choose from:

• David B. O’Maley College of Business: 30
• Nova Southeastern University: 25
• University of Cincinnati: 24
• Suffolk University: 23
• Drexel University: 23
• Temple University: 23
• Harvard University: 23
• Georgia State University: 22
• The Ohio State University: 22
• University of Baltimore: 22

The Importance of MBA Accreditation for MBA Programs

The importance of accreditation can’t be underestimated. For many, knowing your school is accredited by the AACSB and regionally accredited by the US Department of Education is enough assurance that you will receive a quality education, where credits are more likely to transfer, and you will be qualified for loans, grants, and scholarships.

AACSB accreditation is considered to be the gold standard in business school credentialing. Established to promote high-quality business education in the U.S., AACSB members developed a stringent accreditation process. Members are held accountable for following an established business education framework set forth by the AACSB. With that comes MBA degrees conferrals that are widely recognized by Fortune 500 companies. This results in lucrative job opportunities.

MBA Program Options Available for Economics MBA Programs

Options for earning your Economics MBA have never been more flexible. Economics MBA programs have become adept at offering effective alternatives for you to earn your MBA, no matter your life situation or schedule.

There are 218 Economics accredited MBA programs. 9 private and 143 public schools offering Economics MBA programs.

Number of Award Earned for MBA Programs Offering an Economics Degree

The ranking of MBA programs is certainly not an exact science and plenty of subjective reasoning and biases come into play. We offer insights into ranking as another way to evaluate a potential MBA program.

Of the 218 accredited MBA programs offered in Economics, 195 of them have been recognized by at least one distinguished publication MBAGuide, PQ, US News, Forbes, BW, FT and Economist garnering an award as one of the best MBA programs in the country.

• University of California, Berkeley: 7
• Northwestern University: 7
• Carnegie Mellon University: 7
• Washington University in St. Louis: 7
• Arizona State University: 7
• Cornell University: 7
• University of Pennsylvania: 7
• Harvard University: 7
• The Ohio State University: 7
• Columbia University: 7
• The University of Iowa: 7
• Boston University: 7
• Stanford University: 7
• Temple University: 6
• University of Miami: 6
• University of Tennessee at Knoxville: 5
• University of Missouri: 5
• The University of Arizona: 5
• North Carolina State University: 5
• University of South Carolina: 5

Publications and the number of awards granted for an MBA degree in Economics :

• MBAGuide: 195
• US News: 30
• Forbes: 22
• BW: 22
• FT: 15
• Economist: 16

How We Rank the Best MBA Programs in Economics

MBAGuide.org employs a comprehensive ranking methodology that combines quantitative data (80% of the score) with qualitative assessments (20%) to evaluate MBA programs. The quantitative component considers factors such as student-faculty ratio, tuition, enrollment, and post-graduation salaries, while the qualitative aspect incorporates editorial ratings and school reputation, providing a well-rounded view of each program’s quality and value.

What is an MBA in Economics?

An MBA in Economics is a specialized graduate degree that blends advanced economic theory with core business management principles. This program equips students with a deep understanding of economic concepts and their practical application in business decision-making, while also developing essential leadership and strategic management skills.

The curriculum typically includes:

• Microeconomic and Macroeconomic Analysis
• Econometrics
• Game Theory
• International Trade
• Financial Economics
• Core MBA subjects (e.g., Marketing, Operations, Strategy)

Popular career paths for MBA in Economics graduates include:

• Economic Consultant
• Financial Analyst
• Policy Advisor
• Investment Banker
• Corporate Strategist

The job outlook for MBA in Economics graduates is robust, with strong demand in both private and public sectors. Salaries vary widely based on role and industry, but graduates can expect competitive compensation, with median annual wages for economists at $105,630, and potential for significantly higher earnings in senior roles or specialized fields like finance and consulting.

MBA in Economics Vs Master Degree in Economics

The main difference between a master’s degree and an MBA is highly specialized coursework versus the comprehensive study of business. Master’s degrees offer students highly specialized and theoretical knowledge of economics while the MBA includes coursework like business law, operations management, marketing, financial management, statistics.

Students in a Master’s in Economics program will take the full breadth of economics coursework including microeconomics, macroeconomics, applied econometrics and mathematical economics. Depending on your career aspirations, you may want to weigh your options. If you plan on entering academia, the Master’s degree in Economics may be the best route. On the other hand, if you plan on working for a large bank, you may want to develop a more balanced understanding of business principles prior to entering the corporate world.

A Masters Degree in Economics is for students who want to continue their education and attain a Ph.D., or who want to work in the fields of research, public policy or consulting, a Master’s in Economics may be the better choice.

An MBA in Economics provides a broad swath of business knowledge, and may be the best choice for those who want to work in a managerial capacity.

Typical Classes for an Economics MBA Program

Using economic theory as a tool to help organizations achieve goals is the primary concern of business economics. Specifically, business economists deal with firm behavior in response to the market and determine how it will affect operations, today and tomorrow. Business economists are concerned with pricing policy, monetary policy, predicting economic impacts, measuring demand, and applying economic models to management decisions. Courses in business economics emphasize capital markets and macroeconomic policies, international business economics, forecasting, and business decision making.

• Macroeconomics – This course analyzes the economic performance of the US and other national economies. How the government and its policies shape the rules of the game for business activity and influence the economic performance of businesses and nations are stressed. Specific topics include measuring national economic performance, the determinants of productivity and output growth, consumption and investment, labor markets and unemployment, inflation and monetary policy, taxes and government spending, and economic fluctuations.
• Microeconomics – This course will provide students with an understanding of the basics of microeconomic theory and their application to business decisions. Topics include the theory of consumer choice and demand; production and the behavior of firms; market power and market structure; the efficiency of competitive markets; factor markets; externalities; the economics of information, and behavior under uncertainty.
• Money and Banking – This course examines the role of money and credit in the economy, with an eye toward understanding government regulation of financial markets and Central Bank operations. The economics of the financial system with a special emphasis on the theories and history of payment and credit instruments and the management of risk by financial intermediaries is considered. Building on the foundations of money and credit, we will investigate the macroeconomic consequences of government involvement in financial markets, and the policies of the Federal Reserve in particular – from promoting financial stability to the management of the business cycle.
• International Financial Policy – This course will help students develop an understanding of issues in international macroeconomics that are important for managers operating in the global marketplace. It will cover theories of the determination of exchange rates and interest rates, the management of foreign exchange risk, international capital flows, debt and currency crises, international monetary and exchange rate regimes, the roles of the international financial institutions in developing countries, and other characteristics of international financial markets.
• Advanced Microeconomic Analysis – Topics to be covered include supply and demand, consumer behavior, capital markets, cost and production, competitive markets, and choices under uncertainty. The emphasis of the course will be on understanding the basic principles of microeconomic theory and learning how to use these principles to analyze real-world problems.

Where Do Economists with an MBA Work?

Graduates of an MBA in Economics program will have the ideal educational background for employment in banking, insurance, data analytics, forecasting, labor arbitration, regulation and urban and regional planning. Graduates will also have the opportunity to further their studies in Ph.D. programs in economics, statistics, or additional studies in business or law. 

An Actuary serves as a professional who analyzes the financial consequences of risk. Actuaries use mathematics, statistics, and financial theory to study uncertain future events, especially those of concern to insurance and pension programs. Actuaries are in high demand and the profession is always on the cutting-edge of the newest risk management technologies.

What Skills Do Successful Economists with an MBA Need?

A master’s degree or Ph.D. is required for the most highly coveted economist jobs. Positions in business, research, or international organizations often require a combination of graduate education and work experience.

• Analytical skills: Economists must be able to review data, observe patterns, and draw logical conclusions. Economists, for example, are responsible for analyzing historical employment trends to make future projections on jobs.
• Communication skills: Economists must be able to explain their work to others. They may give presentations, explain reports, or advise clients on economic issues. They may collaborate with colleagues and sometimes must explain economic concepts to those without a background in economics.
• Critical-thinking skills: Economists must be able to use logic and reasoning to solve complex problems. For instance, they might identify how economic trends may affect an organization.
• Detail oriented: Economists must pay attention to details. Precise data analysis is necessary to ensure accuracy in their findings.
• Math skills: Economists use the principles of statistics, calculus, and other advanced topics in mathematics in their economic analyses.
• Writing skills: Economists must be able to present their findings clearly. Many economists prepare reports for colleagues or clients; others write for publication in journals or the news media.

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Jacquelyn Vadnais

Jacquelyn has a JD/MBA from Suffolk University, an LL.M from the University of Miami, and a BA from the George Washington University in International Relations. Jacquelyn is the CEO/Founder of the Sophisticated Word, a writing company that owns Wilbur Press, which donates a percentage of every article sold to the World Literacy Foundation.

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