When most people hear the word “economics”, they often think of money, computers, businessmen, and so on. In fact, economics is a complex research field, and it is also a hot major in universities now! This article highlights the study of Economics and the top universities for Economics major.
What exactly is economics?
Economics is the study of the laws of human economic activities, that is, the laws of value creation, transformation, and realization. The focus is on how to influence the world through the concept of money.
Economics also pays attention to the interaction between different participants in the financial market. These participants include individuals, companies, families and non-profit organizations. According to the theory of the law of economic development, economics is divided into two types: political economics and scientific economics.
In order to highlight the status and role of a certain class in economic activities, political economics studies the law of value or economic law according to the interests of the class it represents. Scientific economics studies the law of value or economic law as a whole.
How would it be like to study economics?
Like other majors, economics is a four-year university program that awards a Bachelor of Arts or Science degree. There are many top universities for Economics major. Since economics is more theoretical than other business majors, economics is usually located in the university’s Department of Arts & Social Sciences. The main research direction of the economics major is the reasons and principles behind the economy. In addition, some programs also offer a more niche path within economics, which allows students to delve into their areas of interest, such as public policy, poverty, or applied/mathematical economics.
The purpose of concentrated learning in professional fields is to allow students to gain specified knowledge in a certain subdivision of economics, which can help students become more competitive in the market after graduation.
While economics teaches students facts, they also shape the way they think. Through the principles of economics, school professors will teach you how to analyze and think quantitatively and recognize patterns. As a student of economics, you will be exposed to many professional terms, such as monopoly, equity, liquidation, macroeconomics, microeconomics and game theory.
The goal of most faculties is to expose students to professional terminology and theories, to help them make wise decisions, form their own economic opinions, and defend their opinions. In addition, economics courses require a lot of research, which requires students to have a lot of input.
The phenomenon of economics is happening around us every day. It is a field of constant change and development. The following section will show you the top universities for Economics major.
What are the top universities for Economics major?
Most universities in the United States have established economics majors, and more choices mean that you have to gradually filter out the colleges that suit you. In order to help you find your dream school, we have enumerated a list of the top economic schools in the United States, and hope it will be helpful to your choice of school.
Harvard University:
GPA: 4.0 or higher
SAT score: 1460-1580
Acceptance rate: below 5%
As one of the top schools in the United States, Harvard surpasses other universities in academic research, student training and economics education. At Harvard, the economics major is called “centralization.” Students who want to study economic centralization must formally apply to the school. After passing, students can study professional courses.
At Harvard, students often participate in seminars organized by the department and invite professors from all over the world to give lectures at Harvard. Every speaker has its own unique contribution. Through these speakers, students have the opportunity to talk to some economics leaders and engage in learning outside of the classroom.
University of Chicago:
GPA: 3.8 or higher
SAT score: 1460-1570
Acceptance rate: below 10%
Twenty-seven professors and graduates of the Economics Program of the University of Chicago have won the Nobel Prize in Economics. The economics courses of the University of Chicago are very popular. The economic theory proposed by the University of Chicago has been widely studied by scholars around the world!
The main research focus of the economics course is data analysis, which requires students to analyze data rationally on the basis of understanding numbers. The Department of Economics also has its own research association called Oeconomica, where students work together throughout the year to delve into a topic of interest. In addition, the college also helps students reduce the cost of going to university by issuing scholarships.
New York University:
GPA: 3.5 or higher
SAT score: 1460-1520
Acceptance rate: 15-20%
New York University is well-known for cultivating artists, but their economics majors are also the most recognized and most internationally invested in the world. The attraction of this school lies in its six research centers. The most unique of which is the New York University Africa Institute, where students and professors work with native Africans to study the economic advantages and disadvantages of the African continent. One of the scholars happened to be the former president of Tanzania! New York University’s faculty and curriculum are matched to their economic research fields. The college has majors in theory, international economics, economic growth, and macroeconomics.
Vanderbilt University:
GPA: 3.7 or higher
SAT score: 1460-1570
Acceptance rate: 10-15%
As the largest program in Vanderbilt University’s business school, the economics degree is very popular, and for good reason. Seminars and seminars are often held here for students to learn everything from government economic policies to forecasting financial results based on current events. These resources complement students’ classroom learning and keep their knowledge fresh in the ever-changing market. If you are an honor student, you will get more practical experience: the honors course in economics allows students to study independently under the guidance of the lecturer!
A major feature of the Vanderbilt economics degree is the emphasis on original research. The college keeps the working paper files of graduate students and teachers, and publicly displays the research history of the department. Their website states that two-thirds of economics graduates go on to complete their Master of Business Administration (MBA) degrees, and one-fifth enter law school. If you are looking for an exciting and optimistic classic economics degree, Vanderbilt University is the place for you.
Massachusetts Institute of Technology:
GPA: exceptionally high
SAT score: 1500-1570
Acceptance rate: below 10%
If you watch “The Big Bang Theory”, you may have a misunderstanding of MIT – they are not only based on technology and science. In fact, its economics major is one of the oldest and most influential majors in the world. The focus of the MIT Economics major is to understand the impact of indicators and real-time data in the real world. If you don’t believe it, you can find textbooks used by colleges and universities across the United States, most of which are written by MIT economics professors and students.
Although the 7 schools listed are some of the top universities for Economics major, they are certainly not your only choice. Explore schools close to you and discover more of the things you particularly want in your future school.
A large number of opportunities are provided to people majoring in economics. The above is some of the top universities for Economics major, but not to forget other than looking at GPA, SAT and acceptance rate, university admissions officers also look at a holistic review of the applicant’s entire portfolio.
