by our College Data Analytics TeamThe main focus area for this major is General Economics. For more details on this concentration, visit its profile page.
Economics is a major offered under the social sciences program of study at University of Michigan - Ann Arbor. Here, you’ll find out more about the major bachelor’s degree program in economics, including such details as the number of graduates, diversity of students, and more.
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Learn about start dates, transferring credits, availability of financial aid, and more by contacting the universities below.
If you're the kind of person who enjoys working with numbers and solving tough problems, a graduate degree in economics may be for you.
In order to help students and their parents find the best school for them, we have created several different types of college rankings, which are updated yearly. In College Factual's most recent rankings for the best schools for economics majors, U-M came in at #26. This puts it in the top 5% of the country in this field of study. It is also ranked #1 in Michigan.
Here are some of the other rankings for U-M.
During the 2019-2020 academic year, part-time undergraduate students at U-M paid an average of $2,204 per credit hour if they came to the school from out-of-state. In-state students paid a discounted rate of $656 per credit hour. The following table shows the average full-time tuition and fees for undergraduates.
| In State | Out of State | |
|---|---|---|
| Tuition | $16,520 | $53,669 |
| Fees | $428 | $428 |
| Books and Supplies | $1,048 | $1,048 |
| On Campus Room and Board | $12,034 | $12,034 |
| On Campus Other Expenses | $2,454 | $2,454 |
Learn more about U-M tuition and fees.
One factor in determining the overall cost in a degree is to consider how much in student loans you’ll have to take out. Economics students who received their bachelor’s degree at U-M took out an average of $16,875 in student loans. That is 21% lower than the national average of $21,243.
The median early career salary of economics students who receive their bachelor’s degree from U-M is $64,647 per year. That is 38% higher than the national average of $46,790.
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.
Women made up around 31.4% of the economics students who took home a bachelor’s degree in 2019-2020. This is less than the nationwide number of 33.7%.
Around 20.3% of economics bachelor’s degree recipients at U-M in 2019-2020 were awarded to racial-ethnic minorities*. This is lower than the nationwide number of 30%.
| Race/Ethnicity | Number of Students |
|---|---|
| Asian | 76 |
| Black or African American | 7 |
| Hispanic or Latino | 17 |
| Native American or Alaska Native | 0 |
| Native Hawaiian or Pacific Islander | 0 |
| White | 332 |
| International Students | 111 |
| Other Races/Ethnicities | 43 |
Economics students may decide to major in one of the following focus areas.
| Focus Area | Annual Graduates |
|---|---|
| General Economics | 586 |
You may also be interested in one of these majors related to economics.
| Related Major | Annual Graduates |
|---|---|
| General Social Sciences | 8 |
| Anthropology | 71 |
| Political Science & Government | 320 |
| Sociology | 139 |
View All Economics Related Majors >
*The racial-ethnic minorities count is calculated by taking the total number of students and subtracting white students, international students, and students whose race/ethnicity was unknown. This number is then divided by the total number of students at the school to obtain the racial-ethnic minorities percentage.
More about our data sources and methodologies.
