Studying economics in the USA can allow you to benefit from high-quality education, top-notch faculty, and access to cutting-edge research. This field is a high paying field both in the USA and various parts of the world. Additionally, studying economics in the USA will give you a globally recognised degree that will be valuable in making job applications. The USA is home to top Economics schools around the world. As a result, the competition to study economics in the USA is high. 

The requirements for studying economics in the USA can vary depending on the university and level of study. Additionally, each of these universities are strict with their admission procedures and only admit students who meet the eligibility criteria. Therefore, you need to make sure that you have the right qualifications that are needed before you submit your application. 

In this piece, I will walk you through the steps that are needed for studying economics in the USA. 

Requirements for Studying Economics in the USA

1. Complete your Secondary Education

   You must have completed your secondary education before you can study economics in the USA. Additionally, you must have a minimum of credits in business related subjects such as Mathematics, Statistics, Economics, Accounting and English Language.

2. English Proficiency Test

   You will be required to write an English Language proficiency test if English is not your first language. Additionally, you must show proof of your English proficiency test. It can be tests such as IELTS, TOEFL. This test can vary based on the university you apply to. Additionally, each school will have the minimum score that you should have in the English test. The minimum score for IELTS is 6.5.

3. Have Academic Transcripts

   You must submit an academic transcript of your previous education. This transcript must contain all your courses and grades that you have studied. Additionally, this transcript must be an official one and it must be written in English.

4. Have Reference Letters

   You must submit at least two reference letters during your application. This reference letter should be from a teacher or an employer. Therefore, reference letters from friends or family will be rejected.

5. Personal Statement

   Some schools in the USA may require you to write a personal statement. This is an essay that explains why you want to study economics in the USA and your career plans. Additionally, you should check the school’s website to know the amount of words that you are required to write in your personal statement.

Requirements to Obtain a Masters Degree in Economics in the USA

1. Have a Bachelor’s Degree

   You should have a bachelor’s degree in Economics or a relevant field. Additionally, you must have at least 3.0 out of 4.0 GPA from a recognized university.

2. Have Academic Transcripts

   You must submit an academic transcript of your previous education. This transcript must contain all your courses and grades that you have studied. Additionally, this transcript must be an official one and it must be written in English.

3. Professional Experience

   You need to have relevant prior professional experience as an economist. Furthermore, you can have experience working in the business administration field. This may not be a compulsory requirement for all schools. However, it can make you stand out amongst other applicants.

4. English Language Entry Requirement

   You need to write an English Language proficiency test if English is not your first language. Additionally, you must show proof of your English proficiency test. The minimum score for the IELTS is 7.0 with no sub-band lower than 6.5. Additionally, the minimum score for TOEFL is 80 to 100.

5. Submit your GRE/GMAT scores

   The GRE is usually the widely accepted test for Economics. However, some schools accept GMAT as well. Therefore, you need to have an overall score of 320.

6. Recommendation Letters

   You need to have at least three recommendation letters. It should consist of 2 academic and 1 professional letters. Furthermore, these letters must be gotten from an employer or a previous lecturer. Therefore, recommendation letters from a friend or family will be rejected.

7. Statement of Purpose

   You must write a statement of purpose explaining your qualifications, your future plans as well as the reason why you are choosing to study economics in the USA. Additionally, this essay must be 500-750 words or 1-2 pages long. This can vary depending on the university’s requirements.

8. Resume/CV

   You need to submit an updated resume or curriculum vitae showcasing your work experience. Additionally, you can add your professional certifications if you have any.

How to Apply

You can apply to the school of your choice through the school’s website. Most schools in the US will require you to pay for an application fee before submitting your application. The application fee varies between 50 -100USD. You can apply for an undergraduate program as well as a postgraduate program. Additionally, you need to verify each school’s requirement before filling the application form.

Duration

The duration for studying economics in the USA varies based on the type of program and the University. A bachelor’s degree in economics lasts for four years. However, a masters degree lasts for 1-2 years.

Tuition Fee

The tuition fee for studying economics varies for international students as well as the particular university. The average amount for an undergraduate degree ranges from $9,000 to $35,000 annually. Additionally, the average amount for a postgraduate degree ranges from $15,000 to $42,000.

Universities in the United States that offer Economics

1. Harvard University, Massachusetts
2. University of Michigan, Ann Arbor, Michigan
3. Stanford University, California
4. University of California, Berkeley, California
5. University of Pennsylvania, Pennsylvania
6. Columbia University, New York
7. University of Chicago, Illinois
8. University of Washington, Seattle, Washington
9. New York University, New York
10. Yale University, Connecticut
11. University of California, Los Angeles, California
12. Massachusetts Institute of Technology, Massachusetts
13. University of Wisconsin, Madison, Wisconsin
14. Cornell University, New York
15. Ohio State University, Ohio
16. Pennsylvania State University, Pennsylvania
17. University of North Carolina at Chapel Hill, North Carolina
18. University of Minnesota, Twin Cities, Minnesota
19. Princeton University, New Jersey
20. University of Illinois at Urbana, Champaign, Illinois
21. Duke University, North Carolina
22. Boston University, Massachusetts
23. University of Texas at Austin, Texas
24. Johns Hopkins University, Maryland
25. Michigan State University, Michigan
26. University of Southern California, California
27. University of Maryland, College Park, Maryland
28. Arizona State University, Tempe, Arizona
29. University of California, San Diego, California
30. University of Florida, Florida
31. Carnegie Mellon University, Pennsylvania
32. University of Pittsburgh, Pennsylvania
33. Rutgers University, New Brunswick, New Jersey
34. University of California, Davis, California
35. Northwestern University, Illinois
36. University of Arizona, Arizona
37. University of Rochester, New York
38. Indiana University, Bloomington, Indiana
39. George Washington University, District of Columbia
40. Emory University, Georgia

In Conclusion, studying economics in the USA can be highly competitive. This is because the US has a high standard of education which is a desire for most aspiring economists. Therefore, you need to ensure that you have the right qualifications and documents that are needed to study economics. Additionally, you need to verify each requirement from the school’s portal before you submit your application. You can reach out to us for further inquires and assistance.

Good luck!

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