2022 Best Value Master’s Degree Colleges for Economics (Income $48-$75k) in the Great Lakes Region
When it comes to choosing a college, students have a lot of options - but not all of them are good. College Factual was founded, in part, to help students make the decision as to what would be the best school for them. Our “Best Value Economics Schools for a Master’s in the Great Lakes Region For Those Making $48-$75k” ranking is part of that endeavor.
Economics is the 18th most popular major in the country with 48,831 degrees awarded in 2019-2020. In 2017-2018, economics graduates who were awarded their degree in 2015-2017, earned an average of $47,295 and had an average of $21,978 in loans still to pay off.
Across the Great Lakes region, there were 6,771 economics graduates with average earnings and debt of $45,903 and $22,924 respectively. At the master’s degree level specifically, there were 849 economics graduates with average earnings and debt of $57,039 and $42,488 respectively.
This year’s “Best Value Economics Schools for a Master’s in the Great Lakes Region For Those Making $48-$75k” ranking looked at 39 colleges that offer degrees in a bachelor’s in economics. The schools that top this list are recognized because they have great economics programs and cost less that schools of similar quality.
Some of the factors we look at when determining these rankings are overall quality of the economics program at the school and the cost of the school after aid is awarded among other things. For more information, check out our ranking methodology.
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One Size Does Not Fit All
The economics school you choose to invest your time and money in matters. To help you make the decision that is right for you, we’ve developed a number of major-specific rankings, including this list of “Best Value Economics Schools for a Master’s in the Great Lakes Region For Those Making $48-$75k”.
In addition to College Factual’s rankings, you may want to take a look at College Combat, our unique tool that lets you pit your favorite schools head-to-head and compare how they rate on factors that most interest you. If you’re torn between two schools, you can use it to help you see how they stack up against one another. Bookmark it so you can compare any new schools that might interest you.
Best Value Economics Schools for a Master’s in the Great Lakes Region For Those Making $48-$75k
The colleges and universities below are the best for great lakes region master’s degree economics students whose families make $48-$75k.
Top 25 Best Value Master’s Degree Colleges for Economics (Income $48-$75k) in the Great Lakes Region
You’ll join some of the best and brightest minds around if you attend Northwestern University. The school came in at #1 for the Best Value Economics Schools for a Master’s in the Great Lakes Region For Those Making $48-$75k. This large school is located in Evanston, Illinois, and it awarded 34 masters’s economics degrees in 2019-2020.
Northwestern did well in our major quality rankings, too. It placed #2 on our “Best Economics Master’s Degree Schools in the Great Lakes Region” list. Although you might pay more or less depending on your area of study, average graduate tuition and fees at Northwestern University are $56,567.
You’ll join some of the best and brightest minds around if you attend University of Chicago. The school came in at #2 for the Best Value Economics Schools for a Master’s in the Great Lakes Region For Those Making $48-$75k. UChicago is a private not-for-profit institution located in Chicago, Illinois. The school has a fairly large population, and it awarded 59 masters’s degrees in 2019-2020.
As a testament to the quality of education offered at UChicago, the school also landed the #1 spot in our “Best Economics Master’s Degree Schools in the Great Lakes Region” ranking. Average graduate tuition and fees at UChicago are $61,548, but you may pay more or less depending on your major.
Out of the 39 schools in the Best Value Economics Schools for a Master’s in the Great Lakes Region For Those Making $48-$75k that were part of this year’s ranking, University of Michigan - Ann Arbor landed the #3 spot on the list. This large school is located in Ann Arbor, Michigan, and it awarded 63 masters’s economics degrees in 2019-2020.
In addition to being on our great lakes region master’s degree economics students whose families make $48-$75k list, U-M has also earned the #5 rank in our “Best Economics Master’s Degree Schools in the Great Lakes Region” ranking. Although you might pay more or less depending on your area of study, average graduate tuition and fees at University of Michigan - Ann Arbor are $49,548.
You’ll be in good company if you decide to attend University of Notre Dame. It ranked #4 on our 2022 Best Value Economics Schools for a Master’s in the Great Lakes Region For Those Making $48-$75k list. University of Notre Dame is a private not-for-profit institution located in Notre Dame, Indiana. The school has a fairly large population, and it awarded 26 masters’s degrees in 2019-2020.
As a testament to the quality of education offered at Notre Dame, the school also landed the #3 spot in our “Best Economics Master’s Degree Schools in the Great Lakes Region” ranking. Although you might pay more or less depending on your area of study, average graduate tuition and fees at Notre Dame are $57,522.
Out of the 39 schools in the Best Value Economics Schools for a Master’s in the Great Lakes Region For Those Making $48-$75k that were part of this year’s ranking, Purdue University - Main Campus landed the #5 spot on the list. Purdue is a large school located in West Lafayette, Indiana that handed out 19 masters’s economics degrees in 2019-2020.
Purdue did well in our major quality rankings, too. It placed #7 on our “Best Economics Master’s Degree Schools in the Great Lakes Region” list. Although you might pay more or less depending on your area of study, average graduate tuition and fees at Purdue University - Main Campus are $28,794.
Read full report on Economics at Purdue University - Main Campus
With a ranking of #6, University of Wisconsin - Madison did quite well on the 2022 Best Value Economics Schools for a Master’s in the Great Lakes Region For Those Making $48-$75k list. Located in Madison, Wisconsin, this large public school awarded 156 diplomas to qualified masters’s economics students in 2019-2020.
In addition to being on our great lakes region master’s degree economics students whose families make $48-$75k list, UW - Madison has also earned the #4 rank in our “Best Economics Master’s Degree Schools in the Great Lakes Region” ranking. Average graduate tuition and fees at UW - Madison are $25,523, but you may pay more or less depending on your major.
Read more about Economics at University of Wisconsin - Madison
University of Illinois at Urbana-Champaign came in at #7 in this year’s edition of the Best Value Economics Schools for a Master’s in the Great Lakes Region For Those Making $48-$75k ranking. This large school is located in Champaign, Illinois, and it awarded 76 masters’s economics degrees in 2019-2020.
UIUC did well in our major quality rankings, too. It placed #6 on our “Best Economics Master’s Degree Schools in the Great Lakes Region” list. Average graduate tuition and fees at UIUC are $30,083, but you may pay more or less depending on your major.
Indiana University - Bloomington did quite well in the 2022 Best Value Economics Schools for a Master’s in the Great Lakes Region For Those Making $48-$75k ranking, coming in at #8. Indiana University - Bloomington is a public institution located in Bloomington, Indiana. The school has a large population, and it awarded 9 masters’s degrees in 2019-2020.
IU Bloomington did well in our major quality rankings, too. It placed #12 on our “Best Economics Master’s Degree Schools in the Great Lakes Region” list. Average graduate tuition and fees at Indiana University - Bloomington are $33,338, but some majors have different tuition rates.
Ohio State University - Main Campus did quite well in the 2022 Best Value Economics Schools for a Master’s in the Great Lakes Region For Those Making $48-$75k ranking, coming in at #9. This large school is located in Columbus, Ohio, and it awarded 29 masters’s economics degrees in 2019-2020.
In addition to being on our great lakes region master’s degree economics students whose families make $48-$75k list, Ohio State has also earned the #8 rank in our “Best Economics Master’s Degree Schools in the Great Lakes Region” ranking. Average graduate tuition and fees at Ohio State University - Main Campus are $37,141, but some majors have different tuition rates.
Read more about Economics at Ohio State University - Main Campus
University of Illinois at Chicago came in at #10 in this year’s edition of the Best Value Economics Schools for a Master’s in the Great Lakes Region For Those Making $48-$75k ranking. University of Illinois at Chicago is a public institution located in Chicago, Illinois. The school has a large population, and it awarded 14 masters’s degrees in 2019-2020.
UIC not only placed well in this ranking. It is also #14 on our “Best Economics Master’s Degree Schools in the Great Lakes Region” list. Average graduate tuition and fees at UIC are $27,036, but you may pay more or less depending on your major.
With a ranking of #11, University of Wisconsin - Whitewater did quite well on the 2022 Best Value Economics Schools for a Master’s in the Great Lakes Region For Those Making $48-$75k list. UW - Whitewater is located in Whitewater, Wisconsin and, has a fairly large student population. In 2019-2020, this school awarded 2 masters’s economics degrees to qualified students.
In addition to being on our great lakes region master’s degree economics students whose families make $48-$75k list, UW - Whitewater has also earned the #0 rank in our “Best Economics Master’s Degree Schools in the Great Lakes Region” ranking. Average graduate tuition and fees at University of Wisconsin - Whitewater are $19,200, but you may pay more or less depending on your major.
Read full report on Economics at University of Wisconsin - Whitewater
Indiana University - Purdue University - Indianapolis did quite well in the 2022 Best Value Economics Schools for a Master’s in the Great Lakes Region For Those Making $48-$75k ranking, coming in at #12. Indiana University - Purdue University - Indianapolis is a large public school situated in Indianapolis, Indiana. It awarded 5 masters’s economics degrees in 2019-2020.
In addition to being on our great lakes region master’s degree economics students whose families make $48-$75k list, IUPUI has also earned the #23 rank in our “Best Economics Master’s Degree Schools in the Great Lakes Region” ranking. Average graduate tuition and fees at IUPUI are $26,013, but some majors have different tuition rates.
Read full report on Economics at Indiana University - Purdue University - Indianapolis
University of Detroit Mercy landed the #13 spot on the 2022 Best Value Economics Schools for a Master’s in the Great Lakes Region For Those Making $48-$75k ranking. Located in Detroit, Michigan, this small private not-for-profit school handed out 18 degrees to qualified masters’s economics students in 2019-2020.
Detroit Mercy not only placed well in this ranking. It is also #16 on our “Best Economics Master’s Degree Schools in the Great Lakes Region” list. Average graduate tuition and fees at University of Detroit Mercy are $20,047, but some majors have different tuition rates.
Eastern Illinois University landed the #14 spot on the 2022 Best Value Economics Schools for a Master’s in the Great Lakes Region For Those Making $48-$75k ranking. Eastern Illinois University is a medium-sized public school situated in Charleston, Illinois. It awarded 11 masters’s economics degrees in 2019-2020.
Although you might pay more or less depending on your area of study, average graduate tuition and fees at Eastern Illinois University are $20,761.
With a ranking of #15, Northern Illinois University did quite well on the 2022 Best Value Economics Schools for a Master’s in the Great Lakes Region For Those Making $48-$75k list. Northern Illinois University is a public institution located in Dekalb, Illinois. The school has a fairly large population, and it awarded 4 masters’s degrees in 2019-2020.
Average graduate tuition and fees at Northern Illinois University are $11,086, but some majors have different tuition rates.
With a ranking of #16, Southern Illinois University Carbondale did quite well on the 2022 Best Value Economics Schools for a Master’s in the Great Lakes Region For Those Making $48-$75k list. Southern Illinois University Carbondale is a fairly large public school situated in Carbondale, Illinois. It awarded 4 masters’s economics degrees in 2019-2020.
As a testament to the quality of education offered at SIUC, the school also landed the #25 spot in our “Best Economics Master’s Degree Schools in the Great Lakes Region” ranking. Average graduate tuition and fees at SIUC are $32,928, but you may pay more or less depending on your major.
With a ranking of #17, Wayne State University did quite well on the 2022 Best Value Economics Schools for a Master’s in the Great Lakes Region For Those Making $48-$75k list. This large school is located in Detroit, Michigan, and it awarded 16 masters’s economics degrees in 2019-2020.
Average graduate tuition and fees at Wayne State are $37,215, but you may pay more or less depending on your major.
Central Michigan University did quite well in the 2022 Best Value Economics Schools for a Master’s in the Great Lakes Region For Those Making $48-$75k ranking, coming in at #18. This fairly large school is located in Mount Pleasant, Michigan, and it awarded 14 masters’s economics degrees in 2019-2020.
Central Michigan also took the #24 spot in our “Best Economics Master’s Degree Schools in the Great Lakes Region” ranking. Although you might pay more or less depending on your area of study, average graduate tuition and fees at Central Michigan University are $19,359.
University of Wisconsin - Milwaukee landed the #19 spot on the 2022 Best Value Economics Schools for a Master’s in the Great Lakes Region For Those Making $48-$75k ranking. University of Wisconsin - Milwaukee is a large school located in Milwaukee, Wisconsin that handed out 15 masters’s economics degrees in 2019-2020.
In addition to being on our great lakes region master’s degree economics students whose families make $48-$75k list, UWM has also earned the #18 rank in our “Best Economics Master’s Degree Schools in the Great Lakes Region” ranking. Average graduate tuition and fees at University of Wisconsin - Milwaukee are $25,295, but you may pay more or less depending on your major.
With a ranking of #20, Youngstown State University did quite well on the 2022 Best Value Economics Schools for a Master’s in the Great Lakes Region For Those Making $48-$75k list. Located in Youngstown, Ohio, this fairly large public school handed out 12 degrees to qualified masters’s economics students in 2019-2020.
Average graduate tuition and fees at Youngstown State University are $9,495, but some majors have different tuition rates.
Michigan State University did quite well in the 2022 Best Value Economics Schools for a Master’s in the Great Lakes Region For Those Making $48-$75k ranking, coming in at #21. This large school is located in East Lansing, Michigan, and it awarded 9 masters’s economics degrees in 2019-2020.
Michigan State also took the #11 spot in our “Best Economics Master’s Degree Schools in the Great Lakes Region” ranking. Although you might pay more or less depending on your area of study, average graduate tuition and fees at Michigan State University are $37,056.
Wright State University - Main Campus ranked #22 on this year’s Best Value Economics Schools for a Master’s in the Great Lakes Region For Those Making $48-$75k list. Wright State University - Main Campus is a public institution located in Dayton, Ohio. The school has a fairly large population, and it awarded 7 masters’s degrees in 2019-2020.
Average graduate tuition and fees at Wright State University - Main Campus are $24,286, but some majors have different tuition rates.
Eastern Michigan University did quite well in the 2022 Best Value Economics Schools for a Master’s in the Great Lakes Region For Those Making $48-$75k ranking, coming in at #23. Eastern Michigan is a fairly large public school situated in Ypsilanti, Michigan. It awarded 9 masters’s economics degrees in 2019-2020.
Eastern Michigan also took the #22 spot in our “Best Economics Master’s Degree Schools in the Great Lakes Region” ranking. Average graduate tuition and fees at Eastern Michigan University are $26,552, but some majors have different tuition rates.
Read full report on Economics at Eastern Michigan University
Illinois State University landed the #24 spot on the 2022 Best Value Economics Schools for a Master’s in the Great Lakes Region For Those Making $48-$75k ranking. Illinois State University is a large public school situated in Normal, Illinois. It awarded 14 masters’s economics degrees in 2019-2020.
Illinois State did well in our major quality rankings, too. It placed #20 on our “Best Economics Master’s Degree Schools in the Great Lakes Region” list. Although you might pay more or less depending on your area of study, average graduate tuition and fees at Illinois State University are $11,069.
Western Illinois University did quite well in the 2022 Best Value Economics Schools for a Master’s in the Great Lakes Region For Those Making $48-$75k ranking, coming in at #25. WIU is located in Macomb, Illinois and, has a medium-sized student population. In 2019-2020, this school awarded 10 masters’s economics degrees to qualified students.
Although you might pay more or less depending on your area of study, average graduate tuition and fees at Western Illinois University are $11,996.
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Notes and References
References
- The Integrated Postsecondary Education Data System (IPEDS) from the National Center for Education Statistics (NCES), a branch of the U.S. Department of Education (DOE) serves as the core of our data about colleges.
- Some other college data, including much of the graduate earnings data, comes from the U.S. Department of Education’s (College Scorecard).
- Information about the national average student loan default rate is from the U.S. Department of Education and refers to data about the 2016 borrower cohort tracking period for which the cohort default rate (CDR) was 10.1%.
Read more about our data sources and methodologies
Footnotes
- *Average salary, average net price, and average tuition and fees are for the top schools only.
- Some schools otherwise deserving of recognition may have been removed from this ranking in the event that new data identified post-publication warranted it, or at the request of the school.
Credits
- Credit for the banner image above goes to pixabay.
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