2022 Best Value Master’s Degree Colleges for Economics in the Great Lakes Region
When pursuing a degree in today’s world, students have many different options to choose from. College Factual has developed its “Best Value Economics Schools for a Master’s in the Great Lakes Region” ranking as one item you can use to help make this decision.
In 2019-2020, 48,831 people earned their degree in economics, making the major the 18th most popular in the United States. 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” ranking analyzed 35 colleges that offered a degree in economics. The schools that top this list are recognized because they have great economics programs and cost less that schools of similar quality.
When determining these rankings, we looked at things such as overall quality of the economics program at the school and the cost to attend the school once aid has been awarded. For more information, check out our ranking methodology.
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Since picking the right college can be one of the most important decisions of your life, we’ve developed the “Best Value Economics Schools for a Master’s in the Great Lakes Region” ranking, along with many other major-related rankings, to help you make that decision.
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Best Value Economics Schools for a Master’s in the Great Lakes Region
The following schools top our list of the Best Best Value Economics Schools for a Master’s in the Great Lakes Region.
Top 25 Best Value Master’s Degree Colleges for Economics in the Great Lakes Region
Out of the 35 schools in the Best Value Economics Schools for a Master’s in the Great Lakes Region that were part of this year’s ranking, University of Wisconsin - Madison landed the #1 spot on the list. UW - Madison is a public institution located in Madison, Wisconsin. The school has a large population, and it awarded 156 masters’s degrees in 2019-2020.
UW - Madison also took the #4 spot 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 some majors have different tuition rates.
Read full report on Economics at University of Wisconsin - Madison
You’ll join some of the best and brightest minds around if you attend Illinois State University. The school came in at #2 for the Best Value Economics Schools for a Master’s in the Great Lakes Region. Illinois State University is a public institution located in Normal, Illinois. The school has a large population, and it awarded 14 masters’s degrees in 2019-2020.
As a testament to the quality of education offered at Illinois State, the school also landed the #20 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 Illinois State are $11,069.
Out of the 35 schools in the Best Value Economics Schools for a Master’s in the Great Lakes Region that were part of this year’s ranking, Ohio University - Athens Campus landed the #3 spot on the list. Located in Athens, Ohio, this large public school handed out 73 degrees to qualified masters’s economics students in 2019-2020.
As a testament to the quality of education offered at OHIO Athens, the school also landed the #13 spot in our “Best Economics Master’s Degree Schools in the Great Lakes Region” ranking. Average graduate tuition and fees at Ohio University - Athens Campus are $17,712, but you may pay more or less depending on your major.
You’ll join some of the best and brightest minds around if you attend Purdue University - Main Campus. The school came in at #4 for the Best Value Economics Schools for a Master’s in the Great Lakes Region. Purdue is a public institution located in West Lafayette, Indiana. The school has a large population, and it awarded 19 masters’s degrees in 2019-2020.
Purdue not only placed well in this ranking. It is also #7 on our “Best Economics Master’s Degree Schools in the Great Lakes Region” list. Average graduate tuition and fees at Purdue University - Main Campus are $28,794, but you may pay more or less depending on your major.
Out of the 35 schools in the Best Value Economics Schools for a Master’s in the Great Lakes Region that were part of this year’s ranking, University of Detroit Mercy landed the #5 spot on the list. This small school is located in Detroit, Michigan, and it awarded 18 masters’s economics degrees in 2019-2020.
Detroit Mercy also made our “Best Economics Master’s Degree Schools in the Great Lakes Region” list, coming in at #16. Although you might pay more or less depending on your area of study, average graduate tuition and fees at Detroit Mercy are $20,047.
With a ranking of #6, Marquette University did quite well on the 2022 Best Value Economics Schools for a Master’s in the Great Lakes Region list. Milwaukee, Wisconsin is the setting for this fairly large institution of higher learning. The private not-for-profit school handed out masters’s economics degrees to 11 students in 2019-2020.
Marquette also made our “Best Economics Master’s Degree Schools in the Great Lakes Region” list, coming in at #10. Average graduate tuition and fees at Marquette are $21,690, but you may pay more or less depending on your major.
Western Illinois University ranked #7 on this year’s Best Value Economics Schools for a Master’s in the Great Lakes Region list. Located in Macomb, Illinois, this medium-sized public school awarded 10 diplomas to qualified masters’s economics students in 2019-2020.
Average graduate tuition and fees at Western Illinois University are $11,996, but you may pay more or less depending on your major.
Bowling Green State University - Main Campus came in at #8 in this year’s edition of the Best Value Economics Schools for a Master’s in the Great Lakes Region ranking. This fairly large school is located in Bowling Green, Ohio, and it awarded 5 masters’s economics degrees in 2019-2020.
In addition to being on our great lakes region master’s degree economics students list, BGSU has also earned the #21 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 BGSU are $15,823.
Northern Illinois University landed the #9 spot on the 2022 Best Value Economics Schools for a Master’s in the Great Lakes Region ranking. This fairly large school is located in Dekalb, Illinois, and it awarded 4 masters’s economics degrees in 2019-2020.
Average graduate tuition and fees at NIU are $11,086, but some majors have different tuition rates.
University of Illinois at Urbana-Champaign ranked #10 on this year’s Best Value Economics Schools for a Master’s in the Great Lakes Region list. Champaign, Illinois is the setting for this large institution of higher learning. The public school handed out masters’s economics degrees to 76 students in 2019-2020.
UIUC not only placed well in this ranking. It is also #6 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 University of Illinois at Urbana-Champaign are $30,083.
Full University of Illinois at Urbana-Champaign Economics Report
Youngstown State University came in at #11 in this year’s edition of the Best Value Economics Schools for a Master’s in the Great Lakes Region ranking. Youngstown State University is a fairly large school located in Youngstown, Ohio that handed out 12 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 Youngstown State University are $9,495.
Central Michigan University landed the #12 spot on the 2022 Best Value Economics Schools for a Master’s in the Great Lakes Region ranking. Mount Pleasant, Michigan is the setting for this fairly large institution of higher learning. The public school handed out masters’s economics degrees to 14 students in 2019-2020.
Central Michigan did well in our major quality rankings, too. It placed #24 on our “Best Economics Master’s Degree Schools in the Great Lakes Region” list. Average graduate tuition and fees at Central Michigan are $19,359, but you may pay more or less depending on your major.
Read full report on Economics at Central Michigan University
DePaul University did quite well in the 2022 Best Value Economics Schools for a Master’s in the Great Lakes Region ranking, coming in at #13. DePaul is a private not-for-profit institution located in Chicago, Illinois. The school has a large population, and it awarded 29 masters’s degrees in 2019-2020.
DePaul also took the #19 spot in our “Best Economics Master’s Degree Schools in the Great Lakes Region” ranking. Average graduate tuition and fees at DePaul are $19,760, but some majors have different tuition rates.
University of Wisconsin - Milwaukee did quite well in the 2022 Best Value Economics Schools for a Master’s in the Great Lakes Region ranking, coming in at #14. UWM is a large school located in Milwaukee, Wisconsin that handed out 15 masters’s economics degrees in 2019-2020.
As a testament to the quality of education offered at UWM, the school also landed the #18 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 UWM are $25,295.
University of Akron Main Campus came in at #15 in this year’s edition of the Best Value Economics Schools for a Master’s in the Great Lakes Region ranking. University of Akron Main Campus is a fairly large school located in Akron, Ohio that handed out 3 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 University of Akron Main Campus are $15,217.
Read full report on Economics at University of Akron Main Campus
University of Illinois at Chicago ranked #16 on this year’s Best Value Economics Schools for a Master’s in the Great Lakes Region list. 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 University of Illinois at Chicago are $27,036, but some majors have different tuition rates.
University of Cincinnati - Main Campus did quite well in the 2022 Best Value Economics Schools for a Master’s in the Great Lakes Region ranking, coming in at #17. University of Cincinnati - Main Campus is located in Cincinnati, Ohio and, has a large student population. In 2019-2020, this school awarded 28 masters’s economics degrees to qualified students.
UC also made our “Best Economics Master’s Degree Schools in the Great Lakes Region” list, coming in at #15. Although you might pay more or less depending on your area of study, average graduate tuition and fees at UC are $26,644.
Eastern Illinois University came in at #18 in this year’s edition of the Best Value Economics Schools for a Master’s in the Great Lakes Region ranking. Charleston, Illinois is the setting for this medium-sized institution of higher learning. The public school handed out masters’s economics degrees to 11 students in 2019-2020.
Average graduate tuition and fees at Eastern Illinois University are $20,761, but you may pay more or less depending on your major.
With a ranking of #19, Cleveland State University did quite well on the 2022 Best Value Economics Schools for a Master’s in the Great Lakes Region list. This fairly large school is located in Cleveland, Ohio, and it awarded 4 masters’s economics degrees in 2019-2020.
Average graduate tuition and fees at Cleveland State University are $17,622, but some majors have different tuition rates.
Indiana University - Purdue University - Indianapolis came in at #20 in this year’s edition of the Best Value Economics Schools for a Master’s in the Great Lakes Region ranking. IUPUI is a public institution located in Indianapolis, Indiana. The school has a large population, and it awarded 5 masters’s degrees in 2019-2020.
IUPUI not only placed well in this ranking. It is also #23 on our “Best Economics Master’s Degree Schools in the Great Lakes Region” list. Average graduate tuition and fees at IUPUI are $26,013, but some majors have different tuition rates.
Read more about Economics at Indiana University - Purdue University - Indianapolis
Wright State University - Main Campus ranked #21 on this year’s Best Value Economics Schools for a Master’s in the Great Lakes Region list. Wright State University - Main Campus is a fairly large school located in Dayton, Ohio that handed out 7 masters’s economics 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.
Read more about Economics at Wright State University - Main Campus
Indiana University - Bloomington did quite well in the 2022 Best Value Economics Schools for a Master’s in the Great Lakes Region ranking, coming in at #22. This large school is located in Bloomington, Indiana, and it awarded 9 masters’s economics degrees in 2019-2020.
IU Bloomington also took the #12 spot in our “Best Economics Master’s Degree Schools in the Great Lakes Region” ranking. Average graduate tuition and fees at IU Bloomington are $33,338, but some majors have different tuition rates.
Read more about Economics at Indiana University - Bloomington
Western Michigan University ranked #23 on this year’s Best Value Economics Schools for a Master’s in the Great Lakes Region list. This fairly large school is located in Kalamazoo, Michigan, and it awarded 11 masters’s economics degrees in 2019-2020.
WMU also made our “Best Economics Master’s Degree Schools in the Great Lakes Region” list, coming in at #17. Although you might pay more or less depending on your area of study, average graduate tuition and fees at WMU are $31,355.
With a ranking of #24, Miami University - Oxford did quite well on the 2022 Best Value Economics Schools for a Master’s in the Great Lakes Region list. Miami University - Oxford is a public institution located in Oxford, Ohio. The school has a fairly large population, and it awarded 17 masters’s degrees in 2019-2020.
In addition to being on our great lakes region master’s degree economics students list, Miami University - Oxford has also earned the #9 rank in our “Best Economics Master’s Degree Schools in the Great Lakes Region” ranking. Average graduate tuition and fees at Miami University - Oxford are $31,697, but you may pay more or less depending on your major.
Eastern Michigan University landed the #25 spot on the 2022 Best Value Economics Schools for a Master’s in the Great Lakes Region ranking. Located in Ypsilanti, Michigan, this fairly large public school handed out 9 diplomas to qualified masters’s economics students in 2019-2020.
Eastern Michigan did well in our major quality rankings, too. It placed #22 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 Eastern Michigan University are $26,552.
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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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