by our College Data Analytics TeamWe've gathered data and other essential information about the program, such as the average salary of graduates, ethnicity of students, how many students graduated in recent times, and more. In addition, we cover how U-M ranks in comparison to other schools with economics programs.
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In College Factual's most recent rankings for the best schools for economics majors, U-M came in at #20. This puts it in the top 5% of the country in this field of study. It is also ranked #1 in Michigan.
During the 2021-2022 academic year, University of Michigan - Ann Arbor handed out 618 bachelor's degrees in economics. Last year, the same number of degrees were handed out.
In 2022, 93 students received their master’s degree in economics from U-M. This makes it the #10 most popular school for economics master’s degree candidates in the country.
In addition, 17 students received their doctoral degrees in economics in 2022, making the school the #24 most popular school in the United States for this category of students.
Economics majors who earn their bachelor's degree from U-M go on to jobs where they make a median salary of $68,416 a year. This is higher than $51,722, which is the national median for all economics bachelor's degree recipients.
While getting their bachelor's degree at U-M, economics students borrow a median amount of $85,444 in student loans. This is higher than the the typical median of $39,273 for all economics majors across the country.
The typical student loan payment of a bachelor's degree student from the economics program at U-M is $853 per month.
In 2022-2023, the average part-time undergraduate tuition at U-M was $2,458 per credit hour for out-of-state students. The average for in-state students was $716 per credit hour. The following table shows the average full-time tuition and fees for undergraduates.
| In State | Out of State | |
|---|---|---|
| Tuition | $17,977 | $59,775 |
| Fees | $332 | $332 |
| Books and Supplies | $1,126 | $1,126 |
| On Campus Room and Board | $13,856 | $13,856 |
| On Campus Other Expenses | $2,572 | $2,572 |
Learn more about U-M tuition and fees.
For the most recent academic year available, 67% of economics bachelor's degrees went to men and 33% went to women.
The majority of bachelor's degree recipients in this major at U-M are white. In the most recent graduating class for which data is available, 55% of students fell into this category.
The following table and chart show the ethnic background for students who recently graduated from University of Michigan - Ann Arbor with a bachelor's in economics.
| Ethnic Background | Number of Students |
|---|---|
| Asian | 64 |
| Black or African American | 7 |
| Hispanic or Latino | 32 |
| White | 340 |
| Non-Resident Aliens | 120 |
| Other Races | 55 |
Online degrees for the U-M economics bachelor’s degree program are not available at this time. To see if the school offers distance learning options in other areas, visit the U-M Online Learning page.
For the most recent academic year available, 40% of economics master's degrees went to men and 60% went to women.
The following table and chart show the ethnic background for students who recently graduated from University of Michigan - Ann Arbor with a master's in economics.
| Ethnic Background | Number of Students |
|---|---|
| Asian | 1 |
| Black or African American | 1 |
| Hispanic or Latino | 2 |
| White | 5 |
| Non-Resident Aliens | 42 |
| Other Races | 1 |
Take a look at the following statistics related to the make-up of the economics majors at University of Michigan - Ann Arbor.
| Related Major | Annual Graduates |
|---|---|
| Political Science & Government | 254 |
| Sociology | 146 |
| Anthropology | 73 |
| General Social Sciences | 11 |
More about our data sources and methodologies.