Best Colleges for Economics: Math Rigor, Thesis Paths, and Fit

What Makes a College One of the Best Colleges for Economics?

Economics is taught almost everywhere, but the major ranges from a verbal, policy-focused program to one that looks like applied mathematics. The difference matters most for students who may want a PhD: the American Economic Association says graduate programs “expect applicants to have had advanced calculus, differential equations, linear algebra, and basic probability theory” (AEA). The best undergraduate economics programs make that path possible without forcing it on every student. Five things separate them.

• Math and econometrics depth. MIT’s Mathematical Economics degree requires Real Analysis, Chicago’s standard track requires calculus through Calculus III plus a mathematical methods course, and Carleton puts Econometrics in the core.
• A BS option. Stanford, Duke, UT Austin, UC San Diego, Maryland, Minnesota, Ohio State, and Indiana offer a more quantitative BS alongside the BA.
• A thesis or honors path. Princeton requires a senior thesis of every major, Harvard reserves high and highest honors for its Thesis Track, and Columbia normally gives honors to no more than 10% of majors.
• Joint majors. Columbia pairs economics with mathematics, philosophy, political science, and statistics, Brown with applied math, mathematics, and computer science, and MIT with computer science and data science.
• Clear rules for declaring. Some public universities require minimum grades in prerequisite courses before a student can declare, and those rules shape the first two years.

Which Colleges Are Best for Economics?

The table below lists the best colleges for economics with the degree each one offers, named the way the university names it, and one concrete requirement taken from its own pages. Schools are grouped by type and selectivity, and each linked school name leads to our analysis of its acceptance rate or admissions.

Which Highly Selective Universities Have the Strongest Economics Programs?

Among the best economics schools, the most selective private universities differ most in how they treat the thesis. Princeton economics majors write a Junior Paper in the spring of junior year, every major must write a two-semester senior thesis, and the major draws over 250 juniors and seniors a year (Princeton Economics). Harvard’s Basic Track is 11 courses and its honors tracks are 14, but only students who complete the Thesis Track can earn high or highest honors (Harvard Economics). Columbia requires a 3.7 major GPA and an A- in its year-long Senior Honors Thesis Workshop, and normally no more than 10% of majors receive honors. Penn, Johns Hopkins, and Stanford set the honors bar at a 3.5 GPA, and Rice at 3.67.

They also differ in how much math they build in. MIT offers three economics majors, and its Mathematical Economics degree requires Real Analysis (MIT Catalog). Chicago offers four degree options, from the standard track to specializations in business economics, data science, and politics and policy. Duke offers both an AB and a BS: the BS requires three to four math courses and the AB one to three (Duke Economics). Stanford announced a BS in December 2024, and Rice offers a separate Mathematical Economic Analysis major of 52 to 56 credit hours. Yale requires twelve credits, one in mathematics, and two senior-level seminars.

Which Public Universities Are Best for Economics?

At large public universities, the first question is how a student gets into the major. Since Summer 2024, UC Berkeley no longer designates economics a High Demand major; students complete six prerequisites and need at least a C in each one taken at Berkeley (UC Berkeley Economics). UCLA admits students as Pre-Economics, requires a 2.5 GPA across the pre-major courses, and runs a separate application for Business Economics (UCLA Economics). Michigan requires a C or better in ECON 101, ECON 102, and MATH 115 before declaring, and Virginia requires a 2.3 GPA in its economics courses plus a C+ in Calculus I, Intermediate Microeconomics, and Statistics.

Public universities also run some of the best economics programs for students who want a quantitative degree. UT Austin’s BS requires at least 24 semester hours of mathematics, statistics, and computer science (UT Austin Catalog). UC San Diego offers a BA, a BS, a Business Economics BS, and a joint major with mathematics, plus a five-year BA/MPP program. Minnesota offers four pathways, and its BS and BA-Quantitative require full calculus. At Wisconsin, Honors in the Major is open only to students in the Mathematical Emphasis option, and UNC asks honors students for a two-semester thesis and an oral exam.

Which Liberal Arts Colleges Are Best for Economics?

Liberal arts colleges end the economics major with a culminating exam or project. Amherst requires nine economics courses plus calculus and a written comprehensive exam, usually taken in the spring of senior year. Swarthmore honors majors complete three two-credit preparations, each examined by external examiners in a written and an oral exam. Carleton puts Econometrics in its 75-credit core, and its senior comps are either a 25 to 40 page research paper or a 15 to 20 page policy white paper (Carleton Economics). Middlebury and Davidson award honors for a senior research thesis with an A- or better, and Pomona builds the major on a six-course core that includes Economic Statistics. Our guide to liberal arts colleges versus research universities covers the trade-offs between the two settings.

Is Economics a STEM Major?

It depends on how the college classifies the degree. Duke says both its AB and BS in economics are classified as STEM under CIP code 45.0603, Econometrics and Quantitative Economics (Duke Economics). Other colleges classify economics under a general economics code instead. For international students, the classification matters because it can affect work authorization after graduation, so families should ask each department which code its degree uses rather than assume.

Should a Student Study Economics or Business?

Economics is a social science taught in a college of arts and sciences, with theory, statistics, and econometrics at its core. Undergraduate business programs are professional schools that teach accounting, finance, marketing, and management. Several universities on this list offer a middle path: UCLA and UC San Diego have Business Economics majors, Chicago has a business economics specialization, Brown has a Business Economics track, and Minnesota has a BA in Business Economics. Our comparison of undergraduate business versus economics explains the trade-offs, and our guide to the best colleges for business covers the business schools themselves.

What Can You Do With an Economics Degree?

Most economics majors do not become economists. That occupation typically requires at least a master’s degree, paid a median of $124,720 in 2025, and is projected to grow 5 percent from 2025 to 2035, faster than average, according to the Bureau of Labor Statistics (BLS). Graduates more often go into finance, consulting, public policy, technology, law, and graduate school.

Students aiming at a PhD need more mathematics than most majors require. The AEA advises them to “take 1-2 mathematics courses each semester” and lists methods of proof, stochastic processes, and real analysis as additional recommended courses (AEA). That is why MIT, Rice, Duke, and the public universities with a BS are attractive to students who already know they want research. Students who pair economics with a second field can compare our guides to the best colleges for math and the best colleges for political science, and our guide to the best colleges for philosophy covers philosophy, politics, and economics (PPE) majors.

How Do You Judge an Economics Program Beyond the Rankings?

• Count the math. Look at how many math courses the major requires and whether econometrics is required or optional.
• Compare the BA and the BS. Where both exist, read what the BS adds; at UT Austin it is 24 semester hours of mathematics, statistics, and computer science.
• Read the honors rules. GPA cutoffs, thesis requirements, and the share of majors who receive honors show how the department treats independent research.
• Check the rules for declaring. Minimum grades in prerequisite courses can decide whether a student gets into the major at a large public university.
• Look at joint majors. Economics paired with mathematics, statistics, or computer science is the strongest preparation for quantitative careers and graduate school.

What Do Admissions Officers Look for in an Economics Applicant?

Economics is one of the most popular majors at selective colleges, and most universities do not admit students to the major directly, so the application is read alongside every other social science applicant. What stands out is strong mathematics and evidence that a student thinks about economic questions on their own.

• Coursework. AP Calculus BC, AP Statistics, and AP Microeconomics and Macroeconomics. Calculus matters more than any economics course because every serious major builds on it.
• Math competitions. Results on the AMC 10 or AMC 12 show the quantitative ability the most rigorous programs expect.
• Writing and research. An economics essay for the John Locke Essay Competition or an independent data project shows how a student frames and tests an argument.
• Summer study. Our list of the most prestigious summer programs for high school students includes options in economics and quantitative fields.

Oriel Admissions builds this record with students who start in 9th or 10th grade: a math sequence that reaches calculus by junior year, one sustained quantitative project, and one piece of writing on an economic question. Our guide to intended major strategy explains how a declared economics major affects admission.

Frequently Asked Questions About the Best Colleges for Economics

Sources: NCES Digest of Education Statistics 2022, Table 325.92, BLS Occupational Outlook Handbook: Economists, American Economic Association: Recommended Mathematical Training, MIT Catalog: Mathematical Economics (Course 14-2), Princeton Economics: Independent Work, Harvard Economics: Honors Program, Duke Economics: Majors and Minors, Stanford Economics: BS and BA, UC Berkeley Economics: High Demand Major Update, UCLA Economics: Declaring the Major, UT Austin Catalog: Bachelor of Science in Economics, NCES College Navigator

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