Compare 15 Economics. programs in Minnesota. Average earnings: $62,203.
The highest-earning Economics program isn't at the most prestigious school. With a $46K earnings gap across 15 programs, the data confirms: program-level factors drive outcomes more than institutional brand. Minnesota's Economics graduates earn between $38,289 and $83,794—variation that tracks program quality, not overall school reputation.
Macalester College's Economics program leads with graduates earning $83,794, closely followed by Carleton College at $83,775. The average across all programs is $62,203, yet these liberal arts colleges outperform the University of Minnesota-Twin Cities ($76,116) despite the flagship's strong showing and much larger cohort of 372 graduates.
High earnings don't tell the whole story—debt burden matters. Carleton College graduates borrow $16,750 and face just a 3.8% payment burden, landing in the 'Excellent' category. That means loan payments take a minimal bite out of their post-grad income, making it the top choice for students prioritizing affordable excellence.
| Rank | School | Program Earnings | Cohort Size | Student Debt | Student GPS | Parent Debt | Parent GPS |
|---|---|---|---|---|---|---|---|
| #1 | Macalester CollegePrivate | $83,794 | 55 | $23,000 | Excellent | $36,129 | Manageable |
| #2 | Carleton CollegePrivate | $83,775 | 45 | $16,750 | Excellent | $31,271 | Good |
| #3 | $76,116 | 372 | $19,500 | Excellent | $25,729 | Manageable | |
| #4 | Saint Johns UniversityPrivate | $73,009 | 33 | $27,000 | Excellent | $32,000 | Manageable |
| #5 | St Olaf CollegePrivate | $69,672 | 107 | $26,000 | Excellent | $40,568 | Challenging |
| #6 | University Of St ThomasPrivate | $68,704 | 46 | $23,250 | Excellent | $24,467 | Manageable |
| #7 | Gustavus Adolphus CollegePrivate | $63,259 | 24 | $26,774 | Good | $34,265 | Challenging |
| #8 | $62,868 | 25 | $21,106 | Excellent | $13,695 | Manageable | |
| #9 | $60,346 | 24 | $22,024 | Excellent | $22,127 | Manageable | |
| #10 | $54,410 | 8 | $21,058 | Good | $11,598 | Manageable | |
| #11 | $53,188 | 20 | $18,995 | Good | $11,398 | Manageable | |
| #12 | St Catherine UniversityPrivate | $50,856 | 11 | $24,181 | Good | $21,883 | Challenging |
| #13 | Hamline UniversityPrivate | $49,058 | 7 | $23,770 | Manageable | $22,739 | High |
| #14 | Augsburg UniversityPrivate | $45,696 | 22 | $25,347 | Manageable | $17,901 | High |
| #15 | Winona State UniversityPublic | $38,289 | 5 | $21,500 | Challenging | $19,316 | High |
Our program rankings answer: "Which schools have the best outcomes for graduates of this specific major?"
Unlike traditional rankings that measure overall school quality, these rankings focus on program-level outcomes. A school that's #200 overall might have a top-10 nursing program — and that matters if you're studying nursing.
Data based on 2024-2025 Dept of Education reporting standards. Learn about our methodology →
