Masters in Economics in USA: Top Colleges, Admissions, Fees, Scholarships, Jobs
Masters in Economics in USAMasters in Economics in USA is a 2-year full-time program. It offers specializations like Financial Economics, International Economics, Labour Economics, Environmental Economics, Health Economics, Public Economics, Behavioural Economics, and Econometrics. To study a Masters in Economics in USA, applicants must have 16 years of education, 10+2+4, making a 4-year bachelor's degree mandatory. A GRE score of 300 to 320, a TOEFL score of 90 to 100, and a minimum IELTS score of 7.0 to 7.5 are required.
The fee structure for a Masters in Economics in USA ranges from $58,000 to $158,120 (₹48.43 Lakhs to ₹132.00 Lakhs). Living expenses in the USA can be around $600 and $11,100 (₹0.50 Lakhs to ₹9.32 Lakhs) annual fees. Economists earn an average salary of $66,767 to $127,671 (₹54.28 lakhs to ₹1.03 Crores). The Hubert H. Humphrey Fellowship Program offers students the chance to receive a 100% scholarship award. Most Economics graduates prepare to become a CPA USA (Certified Public Accountant). It is an accounting qualification where an individual with the required education and experience is granted a license to practice in the United States.
Masters in Economics in USA: Quick Highlights
The table below shows some of the key highlights of Masters in Economics in USA.
Particulars | Details |
Degree Available |
|
Course Duration | 2 year |
Type | Full-time |
Top Universities |
|
Eligibility Criteria | 16 years of education (10+2+4), 4-year Bachelor's degree |
Exams Accepted |
|
Course Eligibility | Bachelor's in Economics or related field (UG background) |
Top Job Profiles |
|
Entrance Tests Required | GRE, TOEFL, IELTS |
Scholarships | Available |
Annual Tuition Fee | $58,000 to $158,120 (₹48.43 Lakhs to ₹132.00 Lakhs) |
Application Mode | Online |
Masters in Economics in USA: Important Dates and Events
The table below provides the important dates and events concerning studying Masters in Economics in USA.
Events | Suggested Time |
University Application Opens | October to December 2025 |
Recommended Application Deadline | December 2025 to February 2026 |
Rolling / Late Deadlines Available | February to March 2026 |
Admission Decision Period | February to April 2026 |
Funding (Full Scholarship) Enrollment Deadline | April 15, 2026 (if applicable) |
Visa & Travel Prep | October to December 2025 |
Masters in Economics in USA: Visa Application Timeline
The table below provides the estimated timeline for student visa applications for Masters in Economics in USA.
Events | Timeline |
Pay SEVIS Fee | Immediately after receiving the I-20 |
Fill DS-160 Form | Within 1st to 2nd days after the SEVIS fee |
Attend Visa Interview | June to July |
Visa Approval & Passport | 7th to 15th days after the interview |
Travel to USA | Up to 30 days before the program starts |
Masters in Economics in USA: Course Fees
The fee structure for a Masters in Economics in USA ranges from $58,000 to $158,120 (₹48.43 Lakhs to ₹132.00 Lakhs). The table below provides the course fees for Masters in Economics in USA ($) Dollar and Indian (₹) Rupees across the top universities.
University | Degree Offered | Total Tuition Fees ($) Dollar | Total Tuition Fee (₹) |
Massachusetts Institute of Technology | Masters in DEDP (Data, Economics and Development Policy) (N.A on CD) | $115,180 | ₹96.75 Lakhs |
Cornell University | MS in Applied Economics and Management | $124,912 | ₹104.92 Lakhs |
Columbia University | MS in Financial Economics | $133,170 | ₹111.86 Lakhs |
New York University | MA in Economics and MS in Economics | $158,120 | ₹132.82 Lakhs |
University of California Los Angeles | Master of Applied Economics and Master of Quantitative Economics | $66,476 | ₹55.84 Lakhs |
Duke University | MS Economics and Computation and MA in Economics | $120,440 | ₹101.17 Lakhs |
University of Wisconsin | MS in Economics | $72,000 | ₹60.48 Lakhs |
Boston University | MA in Economics | $68,924 | ₹57.89 Lakhs |
Rice University | Master of Energy Economics | $58,000 | ₹48.72 Lakhs |
University of Minnesota | MS in Applied Economics | $60,876 | ₹51.13 Lakhs |
University of Michigan | Master of Applied Economics | $101,600 | ₹85.34 Lakhs |
Cost of Living Masters in Economics in USA
The fee structure for a Masters in Economics in USA ranges from $58,000 to $158,120 (₹48.43 Lakhs to ₹132.00 Lakhs). Living expenses in the USA can be around $600 and $11,100 (₹0.50 Lakhs to ₹9.32 Lakhs) annual fees.
Expense Category | Cost Per Year ($) Dollar | Cost Per Year (₹) |
Book | $2,000 | ₹1.68 Lakhs |
Travel | $700 | ₹0.59 Lakhs |
Accommodation | $11,100 | ₹9.32 Lakhs |
Electricity | $1,800 | ₹1.51 Lakhs |
Food | $7,200 | ₹6.05 Lakhs |
Phone | $600 | ₹0.50 Lakhs |
Internet | $600 | ₹0.50 Lakhs |
Health Insurance | $1,100 | ₹0.92 Lakhs |
Why choose a Masters in Economics course in the USA?
Masters in Economics in USA is a top destination for Indian students due to its global recognition, high-quality education, and career support. Here are some key reasons why several international students choose the USA every year for Masters in Economics in USA program:
- Eligibility and flexibility - Eligibility for a Masters in Economics in the USA requires 16 years of education, 10+2+4 with a bachelor's in Economics or a related field. English Language Proficiency for GRE 300 to 320, TOEFL 90 to 100, or IELTS 7.0 to 7.5 scores. Some may waive the GRE. Programs are flexible, offering full-time or part-time options, and many are STEM-designated, allowing up to 36 months of OPT for international students.
- Excellent scholarships and financial support - The Hubert H. Humphrey Fellowship Program scholarship offers students the chance for a 100% scholarship award.
- One-year program length - Some universities offer accelerated 1-year Masters programs, enabling students to enter the workforce sooner and reduce overall education costs.
Also Read :
Other Popular Countries for Studying Masters in Economics
Masters in Economics in USA: Qualification
Masters in Economics in USA is a 2-year full-time program. It offers specializations like Financial Economics, International Economics, Labour Economics, Environmental Economics, Health Economics, Public Economics, Behavioural Economics, and Econometrics. To study a Masters in Economics in USA, applicants must have 16 years of education, 10+2+4, making a 4-year bachelor's degree mandatory. A GRE score of 300 to 320, a TOEFL score of 90 to 100, and a minimum IELTS score of 7.0 to 7.5 are required.
Masters in Economics in USA: Eligibility
The table below shows the course eligibility for Masters in Economics in USA.
Particulars | Eligibility Criteria |
Qualification | 16 years of education (10+2+4); Bachelor's degree in Economics or a related field |
English Language Proficiency |
|
Masters in Economics in USA: Application Process
The following is the detailed application process for applying to Masters in Economics in USA.
- 16 years of education (10+2+4); Bachelor's degree in Economics or a related field.
- English Language Proficiency - IELTS - 7.0 to 7.5, TOEFL - 90 to 100, and GRE - 300 to 320.
- Documents Required - Statement of Purpose, Letters of Recommendation, Resume, Proof of English proficiency
- University application - Apply through the university portal and pay the application fee (if applicable)
- Transcripts and academic certificates
- Passport copy
- Visa Application
Masters in Economics in USA: Is GMAT/GRE Required?
GRE is generally required for admission to most universities offering a Masters in Economics in USA. However, some universities may offer GRE waivers based on your academic background, work experience, or applying under specific conditions.
Test | Requirement |
GRE | Top universities generally expect a GRE score between 300 to 320. Some universities waive the GRE for exceptional academic records or relevant work experience. |
GMAT | Not Required |
Masters in Economics in USA: SOP, LOR, and Resume
For a Masters in Economics in USA, you might require SOP, LOR, and a resume. The table below shows the purpose and content to be included in SOP, LOR, and resumes for Masters in Economics courses.
Document | Purpose | Content |
SOP (Statement of Purpose) | Explains your academic background, career goals, and reasons for choosing the program and university | 500 to 1,000 words and include academic achievements, internships, research, and future goals. |
LORs (Letters of Recommendation) | Academic or professional evaluations written by professors or employers. | 2 to 3 LORs required, preferably from faculty in Economics or supervisors familiar with your work. |
Resume | Summarizes your education, skills, work experience, and research and projects. | 1 to 2 pages, and use a clean format. Include internships, academic projects, skills, and certifications. |
Masters in Economics in USA: IELTS/TOEFL Tips
The following are some expert-curated tips for the IELTS and TOEFL exams for Masters in Economics in USA.
- Give yourself at least 8 - 12 weeks to build skills and practice regularly for the exam.
- Focus on reading, listening, speaking, and writing tasks needed for Masters in Economics in USA.
- Use IELTS or TOEFL sample papers to get familiar with the exam structure, timing and question types.
- Practice mock papers and track your scores and spot weak areas and adjust study plans accordingly.
Masters in Economics in USA: Cutoff
The list below shows the cutoff available in Masters in Economics in USA.
- 16 years of education (10+2+4) Bachelor's degree in Economics or a related field.
- Indian applicants must prove proficiency in English with an IELTS - 7.0 to 7.5, a TOEFL - 90 to 100, and a GRE - 300 to 320.
- Masters in Economics in USA typically requires a background in Economics or a related social science.
Masters in Economics in USA: IELTS/TOEFL Score Cutoffs
The table below shows the score eligibility for IELTS, TOEFL, and GRE for Masters in Economics in USA.
Test | Minimum Score Required |
IELTS | 7.0 to 7.5 |
TOEFL | 90 to 100 |
GRE | 300 to 320 |
Masters in Economics in USA: Syllabus
Some top universities in the USA offering Masters in Economics and their respective application deadlines are as follows:
- Financial Economics
- Macroeconomics
- Microeconomics
- International Economics
- Game Theory
- Industrial Economics
- Labour Economics
- Environmental Economics
- Health Economics
- Public Economics
- Behavioural Economics
Masters in Economics in USA: Electives & Specializations
The table below shows the electives and specialisations available in Masters in Economics in USA.
Electives / Specializations | Description |
Financial Economics | Examines the workings of financial markets, investment theory, and the impact of monetary policy |
International Economics | Focuses on trade theory, exchange rates, and policies affecting global economies. |
Labour Economics | Analyzes labor markets, wage determinants, employment policies, and labor migration |
Environmental Economics | Studies the economic effects of environmental regulation, sustainability and green policy |
Health Economics | Evaluates healthcare markets, insurance models and public health policymaking |
Public Economics | Covers taxation, government expenditure, and the economic role of the public sector |
Behavioural Economics | Combines psychology and economics to explain deviations from rational behavior in markets. |
Econometrics | Uses statistical and quantitative methods to test economic theories and analyze real world data |
Macroeconomics | Focuses on aggregate phenomena such as growth, inflation, fiscal and monetary policy |
Microeconomics | Studies consumer behavior, the theory of firm, market structure and game theoretical models |
Masters in Economics in USA: Ranking
The table below shows the best universities for Masters in Economics in USA.
University | US News & World Report -‘Best Economics Schools’ Rankings 2024 |
Harvard University | 5 |
Massachusetts Institute of Technology (MIT) | 1 |
University of Chicago | 13 |
Stanford University | 3 |
University of California | 17 |
Columbia University | 38 |
University of Pennsylvania | 15 |
Northwestern University | 42 |
Yale University | 21 |
Princeton University | 25 |
Cornell University | 16 |
New York University | 55 |
Duke University | 62 |
University of Wisconsin | 110 |
Boston University | 88 |
University of Minnesota | 210 |
University of Michigan | 45 |
Masters in Economics in USA Vs. India
Some detailed comparisons of Masters in Economics in USA Vs. India, covering duration, eligibility, fees, curriculum, and career scope:
Criteria | USA | India |
Programs | MS in Economics, MA in Economics, MS in Applied Economics and Financial Economics | MA in Economics, MSc in Economics and Master of Business Economics |
Duration | 2 years | 2 years |
Eligibility | 16 years of education (10+2+4) Bachelor's degree | Bachelor's in Economics or equivalent degree (10+2+3) |
English Tests |
| Not required |
Tuition Fees | $58,000 to $158,120 | (₹48.43 Lakhs to ₹132.00 Lakhs) |
Cost of living | $600 and $11,100 | ₹0.50 Lakhs to ₹9.32 Lakhs |
Average Salary | $66,767 to $127,671 | ₹54.28 lakhs to 1.03 Crores |
Masters in Economics in USA: Scholarships
The university provided scholarships in the USA are rare for Masters in Economics program. However, you can still get a few awards from universities and external bodies. Check out some scholarships available to Indian students a Masters in Economics in USA:
Scholarship | Scholarship Award (USD) |
Hsiao Economics Scholarships | 1000 |
Ritchie- Jennings Memorial Scholarship | Variable |
KC Mahindra Scholarships | 9,792 |
Rotary Foundation Graduate Scholarship Program | 30,000 USD |
Hubert H. Humphrey Fellowship Program | Tuition fees, travel expenses, monthly stipend, computer subsidy, health insurance coverage. |
Career Scope After Masters in Economics course in USA
The list below shows the career scope available in Masters in Economics in USA.
- Credit Analyst
- Senior Economic Analyst
- Senior Business Analyst
- Economist
- Financial Analyst
- Analytics Manager
- Economic Consultant
Masters in Economics in USA: Top Recruiters
The average salary package of Masters in Economics in USA is about $66,767 to $127,671 (₹54.28 lakhs to ₹1.03 Crores). The table below shows some of the top recruiters available for Masters in Economics in USA.
Top Recruiters | |||
Apple | Deloitte | IBM | |
Boston Consulting Group (BCG) | HSBC | PayPal | EY |
Time Magazine | AIG | American Express | PwC |
Bloomberg Communications | McKinsey & Company | Amazon | Oxford Economics |
Credit Suisse | Morgan Stanley | Deutsche Bank | Goldman Sachs |
The World Bank | Huawei | IMF | BlackRock |
Masters in Economics in USA: Salary Package
The table below shows the average salary for top profiles for Masters in Economics in USA.
Degree | Job Roles | Average Salary (USD) | Average Salary (₹) |
MS in Economics | Credit Analyst | $90,277 | ₹73.40 lakhs |
Senior Economic Analyst | $85,653 | ₹69.64 lakhs | |
Senior Business Analyst | $82,882 | ₹67.39 lakhs | |
Economist | $77,701 | ₹63.18 lakhs | |
Financial Analyst | $66,767 | ₹54.28 lakhs | |
MA in Economics | Senior Economist | $127,671 | ₹1.03 Crores |
Analytics Manager | $110,025 | ₹89.46 lakhs | |
Economic Consultant | $81,596 | ₹66.34 lakhs | |
Economist | $79,370 | ₹64.53 lakhs | |
Financial Analyst | $68,814 | ₹55.95 lakhs |
Frequently Asked Questions
Ques: What is the duration of Masters in Economics in USA?
Ans: Masters in Economics in USA is a 2-year full-time program.
Ques: What is the total cost of studying in the USA for this program?
Ans: The fee structure for a Masters in Economics in USA ranges from $58,000 to $158,120 (₹48.43 Lakhs to ₹132.00 Lakhs).
Ques: What are the living costs in the USA for international students?
Ans: Living expenses in the USA can be around $600 and $11,100 (₹0.50 Lakhs to ₹9.32 Lakhs) annual fees.
Ques: What is the average salary package of Masters in Economics in USA?
Ans: Graduates with a Master’s in Economics in the USA typically earn an average salary ranging from $66,767 to $127,671 per year, which is approximately ₹54.28 lakhs to ₹1.03 crores, depending on job role, experience, and location.
Ques: Is GRE mandatory for all universities?
Ans: GRE is generally required, but some universities offer waivers based on academic merit or relevant work experience.