Economics can be defined in several ways. The American Economic Association describes it as the study of scarcity, how people use resources and respond to incentives, and decision-making. In this article, you will find more about a selection of leading economics schools around the world.
Top Economics Schools in the World
1. Massachusetts Institute of Technology
The Department of Economics at the Massachusetts Institute of Technology offers undergraduate study, master’s programs, and Ph.D. study in economics and business economics. MIT’s School of Humanities, Arts, and Social Sciences identifies Economics as one of its academic units and describes the department as a leading center for economic research and education.
MIT Economics is also associated with major achievements in the field. Faculty member Esther Duflo received the 2019 Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel. MIT Institute Professor Daron Acemoglu and MIT alumnus Simon Johnson received the 2024 prize with James Robinson of the University of Chicago.
2. Harvard University
The Department of Economics at Harvard University offers an undergraduate economics concentration and a doctoral program. Harvard is first in the QS World University Rankings by Subject 2026: Economics & Econometrics.
Harvard states that its Ph.D. program prepares students for teaching and research in academia, as well as responsible positions in government, research organizations, and business. Doctoral students are expected to devote themselves full-time to their programs of study.
3. Stanford University
- Study Program | Tuition Fees | Scholarships
- Location: USA | Degrees Offered: Bachelor’s and Ph.D.; an economics M.A. can be added by students already enrolled in a Stanford Ph.D. program.
Economics has been taught at Stanford University since the university opened for classes in 1891. The department historically included political science and sociology; political science became a separate department after World War I, and sociology separated after World War II. Kenneth Arrow joined the department in 1949 and received the Nobel Prize in Economic Sciences in 1972. The department also maintains connections with the Stanford Institute for Economic Policy Research and the Institute for Research in the Social Sciences.
Stanford Economics offers undergraduate and Ph.D. education. The department describes a graduate environment that includes weekly seminars, student research workshops, and other opportunities for interaction among students and faculty.
4. Princeton University
The Department of Economics at Princeton University trains students for academic, government, and industry careers. Its graduate program is a five-year Ph.D. program; the department does not offer a separate M.A. program, although Ph.D. students may apply for an incidental master’s degree after meeting specified requirements.
Princeton economics majors complete core courses, electives, two major pieces of independent research, and a senior comprehensive exam. Students can also explore the Minor in Finance, offered by the Bendheim Center for Finance, and the Program in Political Economy. The department provides guidance on study abroad and internship milestone credit.
5. University of California, Berkeley
The Department of Economics at the University of California, Berkeley describes itself as one of Berkeley’s largest teaching and research departments and as consistently ranked among the top programs in the world. The department offers an undergraduate economics major and a residential Ph.D. program. It does not offer an external, terminal M.A. program.
The department was founded in 1903. In its second year, it hired Jessica Peixotto and Lucy Sprague. Peixotto later became the first woman on the Berkeley faculty to be awarded the rank of full professor.
Berkeley Economics publishes current major requirements and course information online, including core courses and upper-division electives. Students can also review opportunities such as study abroad and research.
6. The London School of Economics and Political Science
The London School of Economics and Political Science has a distinguished association with the Nobel Prize in Economic Sciences. Its Department of Economics states that Christopher Pissarides received the prize in 2010, Philippe Aghion received the 2025 prize jointly with Peter Howitt and Joel Mokyr, and ten former members of staff or students have also received the prize.
LSE offers undergraduate economics study, taught master’s programs, and MRes/Ph.D. study in economics. Prospective students should review the official program pages for the most current requirements and available options.
7. University of Chicago
The Kenneth C. Griffin Department of Economics at the University of Chicago offers undergraduate economics study, a Ph.D. program, and two master’s options: the one-year Master of Arts in Economics and the two-year Economics Track within the Master of Arts in Computational Social Science.
The department is affiliated with research centers and initiatives including the Becker Friedman Institute for Economics, the Center for the Economics of Human Development, and the Development Innovation Lab. Its website also lists workshops and conferences connected with the department and related institutes.
We hope this article on leading economics schools around the world was helpful. To find more information on studying abroad, check out the Available Programs for International Students.
