College research / Rankings

Best Economics Programs in the Midwest (2026)

Updated

Part of Best Social Sciences Colleges in the Midwest

Regional list from Best Economics Programs in the United States

This page ranks 104 Economics programs in the Midwest by median earnings of Economics graduates four years after completing, highest first. University of Chicago leads the list with median earnings of $159,578 for its Economics graduates four years after completing.

Across the listed programs, the figure ranges from $159,578 to $33,993, with a median of $71,605. For 24 of the 104 programs the earnings figure is the two-year completion median rather than the four-year one.

Public institutions account for 56 of the listed schools and private nonprofits for 48. University of Michigan-Ann Arbor holds the best Azimuth composite rank on the page, ranking 16th among nonprofit four-year institutions.

University of Michigan-Flint posts the lowest average net price at $7,007, and University of South Dakota reports the highest admission rate, admitting 99% of applicants.

The ranked list

104 schools in list order
RankSchoolProgram EarningsAverage net priceNet price, families under $30KAdmission rate
1University of Chicago · Chicago, IL$159,578$14,860-$1,2644.5%
University of Chicago reports median earnings of $159,578 for its Economics graduates four years after completing, alongside an admission rate of 4%.
2Northwestern University · Evanston, IL$126,006$29,167$1,7647.7%
Northwestern University ranks 2nd on this list, with an average net price of $1,764 for families earning under $30,000.
3University of Notre Dame · Notre Dame, IN$122,637$26,780$7,24411.3%
University of Notre Dame ranks 119th on Azimuth's composite ranking among nonprofit four-year institutions, and its Economics graduates four years after completing earn a median of $122,637.
4Case Western Reserve University · Cleveland, OH$114,601$41,190$19,02536.5%
Case Western Reserve University posts median earnings of $114,601 four years after completing, with a cohort of 67 graduates in the earnings cohort.
5Grinnell College · Grinnell, IA$110,724$17,648$9,97014.5%
Grinnell College admits 15% of applicants and reports an average net price of $17,648.
6University of Michigan-Ann Arbor · Ann Arbor, MI$110,552$13,138$1,04315.6%
University of Michigan-Ann Arbor, a public university in Ann Arbor, reports median earnings of $110,552 for its Economics graduates four years after completing.
7Kenyon College · Gambier, OH$103,791$38,512$18,24231.0%
Kenyon College ranks 7th on this list, and its Economics completers who borrowed left with a median of $18,718 in federal loans.
8Washington University in St Louis · St. Louis, MO$102,439$21,786$1,71612.1%
Washington University in St Louis reports an average net price of $1,716 for families earning under $30,000, and its graduates four years after completing earn a median of $102,439.
9DePaul University · Chicago, IL$100,185$30,902$27,35975.9%
DePaul University ranks 276th on Azimuth's composite ranking among nonprofit four-year institutions, with an admission rate of 76%.
10Indiana University-Bloomington · Bloomington, IN$99,653$16,264$6,32478.2%
Indiana University-Bloomington reports median earnings of $99,653 for its Economics graduates four years after completing, with a cohort of 98 graduates in the earnings cohort.
11Denison University · Granville, OH$97,394$40,007$16,65617.4%
Denison University reports an average net price of $16,656 for families earning under $30,000, and its Economics graduates four years after completing earn a median of $97,394.
12DePauw University · Greencastle, IN$94,761$22,264$11,82057.2%
DePauw University ranks 12th on this list, with an average net price of $11,820 for families earning under $30,000.
13John Carroll University · University Heights, OH$91,386$28,746$19,94580.9%
John Carroll University reports median earnings of $91,386 for its Economics graduates four years after completing, with 24 graduates in the earnings cohort.
14Gustavus Adolphus College · Saint Peter, MN$91,252$22,900$12,01561.0%
Gustavus Adolphus College admits 61% of applicants and its Economics completers who borrowed left with a median of $23,250 in federal loans.
15Miami University-Oxford · Oxford, OH$90,742$28,384$16,01575.4%
A public university in Oxford, Miami University-Oxford ranks 15th on this list and shows an average net price of $28,384.
16University of St Thomas · Saint Paul, MN$89,881$29,155$28,13185.4%
University of St Thomas ranks 526th on Azimuth's composite ranking among nonprofit four-year institutions and posts median earnings of $89,881 for its Economics graduates four years after completing.
17Drake University · Des Moines, IA$88,638$29,127$25,82463.9%
Graduates across all fields who borrowed left Drake University with a median of $23,000 in federal loans, and the school's Economics graduates earned a median of $88,638 four years after completing.
18Augsburg University · Minneapolis, MN$88,507$23,873$21,31882.0%
Augsburg University has an average net price of $23,873 and its Economics completers who borrowed left with a median of $27,000 in federal loans.
19St Catherine University · Saint Paul, MN$87,821$19,764$17,89091.9%
St Catherine University ranks 19th on this list, with median earnings of $87,821 for its Economics graduates four years after completing and a cohort of 11.
20Wabash College · Crawfordsville, IN$87,372$24,336$16,58663.3%
Wabash College admits 63% of applicants, and its Economics completers who borrowed left with a median of $27,000 in federal loans.
21Carleton College · Northfield, MN$87,193$25,407$7,88120.4%
Carleton College reports median earnings of $87,193 for its Economics graduates four years after completing, alongside an average net price of $7,881 for families earning under $30,000.
22Oberlin College · Oberlin, OH$87,120$38,645$18,77434.2%
Oberlin College ranks 1261st on Azimuth's composite ranking among nonprofit four-year institutions and its Economics graduates earned a median of $87,120 four years after completing.
23Eastern Michigan University · Ypsilanti, MI$86,909$15,407$13,25079.6%
A public university in Ypsilanti, Eastern Michigan University shows an average net price of $15,407 and an admission rate of 80%.
24University of Illinois Urbana-Champaign · Champaign, IL$86,860$14,355$2,03842.4%
University of Illinois Urbana-Champaign ranks 35th on Azimuth's composite ranking among nonprofit four-year institutions, with 387 graduates in the earnings cohort and median earnings of $86,860 four years after completing.
25Macalester College · Saint Paul, MN$85,593$32,149$13,77228.5%
Macalester College reports median earnings of $85,593 for its Economics graduates four years after completing, and an average net price of $13,772 for families earning under $30,000.
26University of Wisconsin-Madison · Madison, WI$85,366$17,354$4,20045.2%
University of Wisconsin-Madison admits 45% of applicants, and median federal debt of $20,500 among Economics completers who borrowed.
27Wheaton College · Wheaton, IL$84,829$26,975$20,00187.4%
Wheaton College ranks 27th on this list, with median earnings of $84,829 for its Economics graduates four years after completing.
28St Olaf College · Northfield, MN$84,559$23,874$10,40448.3%
St Olaf College, a private nonprofit institution in Northfield, posts an average net price of $23,874 and ranks 978th on Azimuth's composite ranking among nonprofit four-year institutions.
29Purdue University-Main Campus · West Lafayette, IN$83,195$14,600$5,09849.9%
Purdue University-Main Campus reports median earnings of $83,195 for its Economics graduates four years after completing, alongside an admission rate of 50%.
30Marquette University · Milwaukee, WI$82,722$31,487$22,26981.3%
Marquette University posts an average net price of $31,487, and median federal debt of $22,437 among Economics completers who borrowed.
31University of Minnesota-Twin Cities · Minneapolis, MN$82,488$16,778$6,64279.8%
University of Minnesota-Twin Cities ranks 31st on this list and reports median earnings of $82,488 for its Economics graduates four years after completing.
32Minnesota State University-Mankato · Mankato, MN$80,795$19,139$12,33988.4%
Minnesota State University-Mankato reports $80,795 in median earnings for its Economics graduates four years after completing, and median federal debt of $20,407 among Economics completers who borrowed.
33North Central College · Naperville, IL$80,494$21,044$12,50777.3%
North Central College reports median earnings of $80,494 for its Economics graduates four years after completing, and an average net price of $12,507 for families earning under $30,000.
34Saint Johns University · Collegeville, MN$80,461$25,672$10,35490.6%
Saint Johns University, a private nonprofit institution in Collegeville, ranks 1006th on Azimuth's composite ranking among nonprofit four-year institutions and admits 91% of applicants.
35Michigan State University · East Lansing, MI$79,428$19,680$7,06884.8%
Michigan State University reports median earnings of $79,428 for its Economics graduates four years after completing, alongside an average net price of $19,680.
36The College of Wooster · Wooster, OH$79,310$23,458$12,51259.5%
The College of Wooster graduates across all fields who borrowed left with a median of $26,500 in federal loans, and the school's average net price is $23,458.
37University of Wisconsin-Oshkosh · Oshkosh, WI$79,267$14,305$9,23686.5%
University of Wisconsin-Oshkosh posts median earnings of $79,267 for its Economics graduates four years after completing, with a cohort of 51 graduates.
38University of Wisconsin-Whitewater · Whitewater, WI$77,395$14,158$8,44085.7%
An average net price of $14,158 accompanies University of Wisconsin-Whitewater's 38th position on this list.
39University of Iowa · Iowa City, IA$76,746$22,531$15,31683.6%
University of Iowa admits 84% of applicants and shows median earnings of $76,746 for its Economics graduates four years after completing.
40University of Nebraska-Lincoln · Lincoln, NE$75,784$17,747$12,75187.5%
Graduates across all fields who borrowed left University of Nebraska-Lincoln with a median of $21,000 in federal loans, and the school ranks 272nd on Azimuth's composite ranking among nonprofit four-year institutions.
41Creighton University · Omaha, NE$75,602$31,568$20,47279.8%
A private nonprofit university in Omaha, Creighton University reports median federal debt of $26,250 among Economics completers who borrowed.
42Ohio State University-Main Campus · Columbus, OH$75,485$17,339$4,88560.6%
Ohio State University-Main Campus ranks 90th on Azimuth's composite ranking among nonprofit four-year institutions and posts median earnings of $75,485 for its Economics graduates four years after completing.
43University of Cincinnati-Main Campus · Cincinnati, OH$75,443$25,648$17,97485.3%
University of Cincinnati-Main Campus has an admission rate of 85% and an average net price of $25,648.
44Iowa State University · Ames, IA$75,355$18,589$10,58288.7%
Iowa State University reports median earnings of $75,355 for its Economics graduates four years after completing, alongside a cohort of 39 graduates.
45Bowling Green State University-Main Campus · Bowling Green, OH$74,844$24,022$18,39681.0%
Bowling Green State University-Main Campus ranks 45th on this list and shows median federal debt of $23,625 among Economics completers who borrowed.
46University of Missouri-Columbia · Columbia, MO$74,661$20,268$13,84178.5%
University of Missouri-Columbia admits 78% of applicants and reports an average net price of $20,268.
47Hanover College · Hanover, IN$73,827$21,829$16,83283.7%
Hanover College posts median earnings of $73,827 for its Economics graduates four years after completing, with a cohort of 10 graduates.
48Kalamazoo College · Kalamazoo, MI$72,170$19,072$12,01975.3%
Kalamazoo College ranks 966th on Azimuth's composite ranking among nonprofit four-year institutions and reports median federal debt of $27,000 among Economics completers who borrowed.
49University of Northern Iowa · Cedar Falls, IA$71,905$15,901$10,86392.7%
University of Northern Iowa reports median earnings of $71,905 for its Economics graduates four years after completing, alongside an average net price of $15,901.
50Oakland University · Rochester Hills, MI$71,874$9,120$4,42287.8%
Graduates across all fields who borrowed at Oakland University left with a median of $22,750 in federal loans, and the school's Economics completers earn a median of $71,874 four years after completing.
51University of Wisconsin-La Crosse · La Crosse, WI$71,768$16,210$8,22475.5%
University of Wisconsin-La Crosse admits 76% of applicants and posts median earnings of $71,768 for its Economics graduates four years after completing.
52Kansas State University · Manhattan, KS$71,747$19,406$13,17881.7%
Kansas State University ranks 52nd on this list, with median federal debt of $20,625 among Economics completers who borrowed.
53University of South Dakota · Vermillion, SD$71,463$19,858$14,92198.8%
With an admission rate of 99%, University of South Dakota reports median earnings of $71,463 for its Economics graduates four years after completing.
54Lawrence University · Appleton, WI$71,338$23,401$10,41963.9%
Lawrence University, a private nonprofit university in Appleton, shows median earnings of $71,338 for its Economics graduates four years after completing and an average net price of $23,401.
55University of Michigan-Dearborn · Dearborn, MI$69,884$9,492$7,21155.6%
University of Michigan-Dearborn ranks 88th on Azimuth's composite ranking among nonprofit four-year institutions, and its Economics graduates earn a median of $69,884 four years after completing.
56University of Minnesota-Duluth · Duluth, MN$69,792$18,743$7,25688.8%
Median federal debt among Economics completers who borrowed at University of Minnesota-Duluth is $22,000, while the program's median earnings stand at $69,792 four years after completing.
57University of Wisconsin-Eau Claire · Eau Claire, WI$69,435$16,550$10,27082.3%
University of Wisconsin-Eau Claire reports an average net price of $16,550 and median earnings of $69,435 for its Economics graduates four years after completing.
58University of Central Missouri · Warrensburg, MO$69,359$14,462$10,96563.8%
An admission rate of 64% coincides with median earnings of $69,359 for Economics graduates of University of Central Missouri four years after completing.
59Missouri University of Science and Technology · Rolla, MO$69,338$16,298$10,91272.6%
Missouri University of Science and Technology ranks 136th on Azimuth's composite ranking among nonprofit four-year institutions, with median earnings of $69,338 for its Economics graduates four years after completing.
60University of Kansas · Lawrence, KS$69,084$18,059$12,54493.5%
University of Kansas reports median federal debt of $24,650 among Economics completers who borrowed, alongside median earnings of $69,084 four years after completing.
61Olivet Nazarene University · Bourbonnais, IL$68,935$20,729$17,23255.9%
Olivet Nazarene University reports median earnings of $68,935 for its Economics graduates four years after completing, alongside a median federal debt of $26,991 among Economics completers who borrowed.
62Indiana University-Indianapolis · Indianapolis, IN$68,036$11,668$5,70176.4%
A public university in Indianapolis, Indiana University-Indianapolis ranks 62nd on this list and carries an average net price of $11,668.
63Carthage College · Kenosha, WI$67,703$26,565$23,29387.1%
Carthage College admits 87% of applicants and posts median earnings of $67,703 for its Economics graduates four years after completing.
64Northern Illinois University · Dekalb, IL$66,760$13,391$10,12669.8%
Northern Illinois University ranks 116th on Azimuth's composite ranking among nonprofit four-year institutions, and its Economics graduates four years after completing earn a median of $66,760.
65Saint Norbert College · De Pere, WI$66,621$26,172$19,72185.7%
With a median federal debt of $27,000 among Economics completers who borrowed, Saint Norbert College reports median earnings of $66,621 for those graduates four years after completing.
66Albion College · Albion, MI$66,048$14,301$10,03680.7%
Albion College posts an average net price of $14,301 and median earnings of $66,048 for its Economics graduates four years after completing.
67Missouri State University-Springfield · Springfield, MO$65,804$17,613$13,71890.5%
Missouri State University-Springfield admits 91% of applicants and its Economics graduates four years after completing earn a median of $65,804.
68Central Michigan University · Mount Pleasant, MI$65,174$17,597$12,18589.8%
Central Michigan University ranks 68th on this list, with a median federal debt of $27,000 among Economics completers who borrowed.
69University of Missouri-St Louis · Saint Louis, MO$64,476$15,071$13,03162.7%
University of Missouri-St Louis reports median earnings of $64,476 for its Economics graduates four years after completing and an average net price of $15,071.
70University of Wisconsin-Milwaukee · Milwaukee, WI$64,454$15,014$10,32990.7%
Ranking 214th on Azimuth's composite ranking among nonprofit four-year institutions, University of Wisconsin-Milwaukee reports median earnings of $64,454 for its Economics graduates four years after completing.
71South Dakota State University · Brookings, SD$64,432$19,841$14,26698.3%
South Dakota State University admits 98% of applicants and posts median earnings of $64,432 for its Economics graduates four years after completing.
72Wayne State University · Detroit, MI$63,972$12,766$11,09081.2%
Wayne State University carries an average net price of $12,766 and reports median earnings of $63,972 for its Economics graduates four years after completing.
73University of Illinois Chicago · Chicago, IL$63,429$10,974$7,52977.4%
University of Illinois Chicago reports median earnings of $63,429 for its Economics graduates four years after completing, alongside an average net price of $10,974.
74Xavier University · Cincinnati, OH$63,252$32,997$26,72886.4%
Xavier University admits 86% of applicants and its Economics completers who borrowed left with a median of $27,000 in federal loans.
75Cleveland State University · Cleveland, OH$62,852$14,764$11,95891.3%
Cleveland State University ranks 75th on this list and posts an average net price of $11,958 for families earning under $30,000.
76Knox College · Galesburg, IL$62,144$24,595$17,13470.8%
Knox College shows median earnings of $62,144 for its Economics graduates four years after completing, with a cohort of 18 graduates in the earnings cohort.
77Illinois Wesleyan University · Bloomington, IL$61,516$28,199$17,73239.3%
Illinois Wesleyan University has an admission rate of 39% and an average net price of $28,199.
78University of Dayton · Dayton, OH$61,502$29,533$21,73665.5%
University of Dayton ranks 78th on this list, and its Economics completers who borrowed left with a median of $22,000 in federal loans.
79Southern Illinois University-Carbondale · Carbondale, IL$60,612$13,297$9,41586.9%
Southern Illinois University-Carbondale reports median earnings of $60,612 for its Economics graduates four years after completing, and an average net price of $9,415 for families earning under $30,000.
80Northeastern Illinois University · Chicago, IL$58,252$14,109$13,70974.6%
Northeastern Illinois University admits 75% of applicants, and graduates across all fields who borrowed left with a median of $14,600 in federal loans.
81Dominican University · River Forest, IL$54,644$11,745$9,75990.3%
Dominican University shows median earnings of $54,644 for its Economics graduates four years after completing, alongside an average net price of $11,745.
82Northern Michigan University · Marquette, MI$52,179$14,085$7,69784.0%
Northern Michigan University ranks 82nd on this list and reports an average net price of $7,697 for families earning under $30,000.
83Luther College · Decorah, IA$52,107$23,097$12,51771.5%
Luther College has an admission rate of 72% and median earnings of $52,107 for its Economics graduates four years after completing.
84Hamline University · Saint Paul, MN$49,058$20,744$15,37187.6%
Hamline University reports an average net price of $20,744 and median earnings of $49,058 for its Economics graduates four years after completing.
85Elmhurst University · Elmhurst, IL$48,823$24,185$17,89273.6%
Elmhurst University reports median earnings of $48,823 for its Economics graduates four years after completing, with 7 graduates in the earnings cohort.
86Calvin University · Grand Rapids, MI$48,169$22,992$19,28170.9%
Calvin University admits 71% of applicants and carries an average net price of $22,992.
87University of Missouri-Kansas City · Kansas City, MO$47,260$13,310$10,57672.2%
University of Missouri-Kansas City, a public university in Kansas City, ranks 262nd on Azimuth's composite ranking among nonprofit four-year institutions.
88Truman State University · Kirksville, MO$46,478$12,780$6,04683.8%
Truman State University posts an average net price of $6,046 for families earning under $30,000 alongside median earnings of $46,478 for its Economics graduates four years after completing.
89Illinois State University · Normal, IL$46,422$19,398$11,56888.2%
Illinois State University ranks 89th on this list and reports 31 graduates in the earnings cohort for its Economics program.
90Lake Forest College · Lake Forest, IL$46,087$28,673$19,60556.8%
Lake Forest College shows median earnings of $46,087 for its Economics graduates four years after completing and an admission rate of 57%.
91University of Wisconsin-River Falls · River Falls, WI$44,384$14,054$8,47281.7%
University of Wisconsin-River Falls carries an average net price of $14,054 and ranks 638th on Azimuth's composite ranking among nonprofit four-year institutions.
92University of Michigan-Flint · Flint, MI$43,798$7,007$1,51770.5%
An average net price of $7,007 coincides with median earnings of $43,798 for Economics graduates four years after completing at University of Michigan-Flint.
93Simpson College · Indianola, IA$43,798$21,936$17,94186.2%
Simpson College admits 86% of applicants and posts an average net price of $17,941 for families earning under $30,000.
94Grand Valley State University · Allendale, MI$42,682$16,317$12,27283.0%
Grand Valley State University ranks 94th on this list, with median earnings of $42,682 for its Economics graduates four years after completing.
95North Dakota State University-Main Campus · Fargo, ND$42,682$15,543$9,37095.0%
North Dakota State University-Main Campus carries an average net price of $15,543 and reports 12 graduates in the earnings cohort for its Economics program.
96University of Akron Main Campus · Akron, OH$42,682$13,946$10,41359.7%
University of Akron Main Campus ranks 407th on Azimuth's composite ranking among nonprofit four-year institutions and admits 60% of applicants.
97Butler University · Indianapolis, IN$40,485$36,041$25,27885.1%
Butler University reports median earnings of $40,485 for its Economics graduates four years after completing, with 24 graduates in the earnings cohort.
98Valparaiso University · Valparaiso, IN$40,467$18,578$11,04389.4%
A private nonprofit university in Valparaiso, Valparaiso University admits 89% of applicants and posts an average net price of $18,578.
99Saint Cloud State University · Saint Cloud, MN$39,369$13,529$8,90994.8%
Saint Cloud State University ranks 619th on Azimuth's composite ranking among nonprofit four-year institutions and shows an average net price of $8,909 for families earning under $30,000.
100University of Toledo · Toledo, OH$38,289$17,249$13,52492.0%
University of Toledo ranks 100th on this list, with median earnings of $38,289 for its Economics graduates four years after completing.
101Augustana College · Rock Island, IL$36,941$22,736$15,78762.7%
Augustana College admits 63% of applicants and reports an average net price of $15,787 for families earning under $30,000.
102University of Minnesota-Morris · Morris, MN$35,594$8,837$1,69474.9%
University of Minnesota-Morris posts an average net price of $8,837 and ranks 804th on Azimuth's composite ranking among nonprofit four-year institutions.
103Ohio University-Main Campus · Athens, OH$35,060$21,637$15,67385.0%
Ohio University-Main Campus reports median earnings of $35,060 for its Economics graduates four years after completing, with 17 graduates in the earnings cohort.
104Western Michigan University · Kalamazoo, MI$33,993$15,273$5,26384.6%
Western Michigan University ranks 104th on this list and shows an average net price of $5,263 for families earning under $30,000.

* Net price can be negative: when grants and scholarships exceed the listed cost of attendance, students can receive the difference as a refund for other expenses.

How this list is ordered

Programs are ordered by the median earnings of their Economics graduates four years after completing, highest first. Only programs with a reported earnings cohort in the Midwest appear. The figure covers federally aided completers who were working and not enrolled four years after finishing. For 24 of the 104 listed programs the figure is the two-year completion median rather than the four-year one. The metric does not adjust for graduate school enrollment, cost, or who enrolls, and it is not a measure of teaching quality. University of Chicago leads Northwestern University by $33,572, and the spread from University of Chicago to the bottom of the list reaches $125,585.