Rankings for MSc Economics Programs

Question

I've been studying economics for a number of years now and spent a great deal of time learning about the rankings of economic programs. For this particular post, the following list only considers terminal master’s programs.

The U.S. does not offer many MSc programs in economics, at least not at the top level. Graduate-level economics is dominated by PhD programs. If, however, a master's degree appeals to you, then New York University offers the program with the strongest name recognition and probably the highest quality. NYU's graduate program in economics is generally ranked around the top ten (or close to it) and is situated in one of the most dynamic cities in the world – a definite plus for the job search. Yale also offers a strong program, but the degree - MA International and Development Economics - is quite specific and may limit your options compared to a more standard MSc degree in economics.

But it seems that Europe wins in terms of selection and quality of MSc Economics programs. If we limit our search to only the very top programs, then the list mostly consists of British schools: Oxford, UCL, and LSE. Other universities undoubtedly have good master’s degrees in the same subject - and these will be included.

In each category, the schools are listed in alphabetical order.

Ultra Elites :  
LSE
Oxford

Elites :  
NYU
UCL
Yale

Near Elites :  
Bocconi
Cambridge
HEC
Toulouse
UBC

Regional Elites :  
CEMFI
Duke
McGill
Michigan
Pompeu Fabra
Queens
Sciences Po
Tel-Aviv
Torcuta Di Tella
Vanderbilt

123MBAme · Answer

Great post, bmillan01!

Are you studying at HEC? How is the MFE from your point of view?

BM · Answer

Thanks! The rankings were trickier than I expected.

Yes, I'm currently studying at HEC for the MFE program. Overall, the program is extremely demanding. We take many classes and need to submit a graduate thesis. We also must finish a four-month internship in order to earn the diploma. It's a very good place to meet highly intelligent students and form a strong network. Obviously, this network will be more beneficial if you seek a career in Europe, but the school is aggressively improving its international student body.

Some of the MFE courses are interesting, but I think that HEC has focused too much on quantity and not enough on quality. The school is trying too hard to compete with others and, consequently, has thrown everything into the program. Another problem is the infrastructure and facilities, which are simply awful.

I hesitated to place HEC in the "Near Elite" category, but its student body (future network) and reputation convinced me to do so. Still, if possible, apply to Oxford's MFE program or one of the many degrees at LSE first. If that doesn't work out, then consider HEC.

stanford2012 · Answer

This is a superb ranking, thanks for the effort! I have the following tentative remarks:

1. Maybe you could add University of Michigan in the Regional Elite section. As far as I know they offer a master in applied economics. At least the university's phd program in econ is usually ranked highly (according to US news 2009, same rank as NYU, higher than Duke)

2. For the sake of completeness you could add a university in German speaking Europe to the Regional Elite cluster. I'm thinking University of Zurich. They're pretty strong in behavioral economics.

BM · Answer

Thanks for the input, stanford2012. Kudos! I will add Michigan to the "Regional Elite" category. I should have done that earlier, but it slipped my mind. Zurich is indeed known for its behavioral economics (I've actually read some Ernst Fehr). But I'm a tad apprehensive about adding it to the "Regional Elite" section, as the other universities in that group would probably be a better choice overall. Still, I will mull this over. As you pointed out, the German-speaking area can definitely be considered a region.

thisiszico2006 · Answer

How about MSIS course in Kelley School of Business , Indiana University ? Where does it stand ?

Btw , are these courses for only fresh graduates? Can a person with 4 yrs of work experience attend these courses ? I mean , are the compensations post graduation comparable to that of MBA ?

BM · Answer

It depends on your age, as some MSc programs have an age limit (HEC, for example, set the limit at 26). Work experience is fine, but anything more than a year or two would probably suggest that an MBA is the better choice.

nofo · Answer

I am sorry but you are just downright wrong.

Cambridge has an average-good economics department - not even top 5 within the UK and certainly not 'Elite'. Oxford doesn't even offer MSc in Economics, they offer an MPhil (which is 2years long) and anyone who knows anything knows that it isn't even as good as LSE and UCL.

The only Ultra-Elites should be LSE and possibly UCL. Oxford should be Elite. Cambridge should not even be on the list.

BM · Answer

I see your point about Cambridge. I hesitated somewhat, but initially thought that the prestige gave it a slight bump. Forming such lists can be tricky, as there are so many criteria to adopt. In terms of journal publications (research), for example, Cambrdige does well in Europe. On other factors, though, it's not as succesfull.

But Oxford has a good program. This might appear strange to you, but it occurs in MBA programs as well! The globally recognized best MBA in Spain, for instance, is ranked third out of the top three within its own country (this was the case, at least, somewhat recently).

And, contrary to your claims, Oxford also has a MSc in financial economics. Here it is: https://www.sbs.ox.ac.uk/degrees/mfe/Pages/default.aspx

akhileshgupta05 · Answer

I wanted to ask you a few things about HEC. I cannot PM you.

BM · Answer

I would be happy to answer your questions about HEC, akhileshgupta05. If this is about the school's MSc programs, start a new thread in the somewhere in this forum. A question specifically about the MSc program in Financial Economics for HEC can be posted here.

If, however, this concerns the MBA program, I can respond in the International MBA forum. I should be able to find your post. As I didn't enroll in the MBA program, though, my answers might be of limited help.

akhileshgupta05 · Answer

Check this post : hec-masters-programmes-119742.html Some questions are here. More to come :-D

zodiamc · Answer

1.LSE
2."Oxbridge"
3.UCL 
4.Warwick

that´s the official ranking in the uk...doesnt matter which source/ranking.

"MPhil" is just the way the "old" schools name their master´s degree. the same reason why the name all their courses BA - even Mathematics.

alfrep · Answer

What about the Zurich M.A. in Economics and Business Administration? master-of-arts-in-economics-and-business-administration-127272.html

mscbehavioural · Answer

The University of Essex has a new MSc in Behavioural Economics their faculty is excellent (ranked #3 in UK and better than cambridge according to the last research assessment :-)

seems worthwhile!

chencao · Answer

I would like to know the sub-factors or rationale behind the model of ranking before landing a solid conclusion.

I will hesitate to rank Sciences Po as just a regional elite. I've learned that the facility is superb there (i.e., Apple computer in library). LSE library is shared with the public, which is also very nice but the facilities are not that comparable.

Rankings for MSc Economics Programs

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