I'm thinking of majoring in economics and want to make sure I choose a strong program. Can anyone share about schools in the U.S. that have a great reputation for their economics programs? Any tips on admissions competitiveness?
Several schools in the U.S. are widely recognized for their excellent economics programs. At the top, you'll often find schools like Harvard University, Massachusetts Institute of Technology (MIT), and University of Chicago. They are well-known for producing notable economics alumni and often have a number of faculty members who are Nobel laureates.
In the Ivy League, besides Harvard, Princeton University and the University of Pennsylvania (Wharton in particular, if you're considering business economics) also have highly praised programs.
Stanford University on the west coast is another institution that is highly regarded for its economics department. It's known for its strength in a wide range of economic sub-disciplines, as well as its strong ties to Silicon Valley.
For public universities, University of California, Berkeley and University of Michigan, Ann Arbor are often ranked highly for their economics programs.
Each of these programs, however, are highly selective with acceptance rates often under 10% (with the exception of University of Michigan, which has a more moderate acceptance rate but is still quite competitive). Applicants are typically expected to show strong academic records, with high grades in rigorous courses. Stellar extracurricular involvement related to economics or policy can also give a boost to your application.
Many of these schools look for applicants with a well-developed 'spike' suggesting that they have already accomplished significant work in their field of interest. For example, if you're interested in economics, they'd be impressed by achievements like winning an economics competition or conducting pertinent research.
Remember, all these universities practice holistic admissions meaning they'll assess all aspects of your application including your essays, letters of recommendation, extracurricular activities, etc, in addition to just academic excellence. Therefore, even if your grades and test scores stumble a bit, you may still have a chance if other parts of your application shine.
But keep in mind, selecting the right program is not only about rankings. Your personal fit in terms of size, location, and culture of the school should be equally important in your decision-making process. For example, if you prefer a smaller, more intimate setting over a large research university, schools like Amherst College or Williams College might prove to be a better fit while still providing a strong economics curriculum.
And, if you're interested in a specific area of economics, make sure to research schools that have a strong focus in that area. For instance, London School of Economics is highly regarded for development economics while University of Wisconsin-Madison is known for their History of Economic Thought program.
In the end, the quality of an economics program doesn't necessarily dictate the quality of the economics education you'll receive. There are hundreds of schools out there with solid economics programs where you will be able to get a great education and prepare for your future career.
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