Students looking for the best affordable colleges for economics degrees for bachelor’s study need to look no further than this ranking. Our staff has worked to compile a list of low-cost, best-value degrees that will give students a great foundation in the field of economics. The discipline of economics has far-ranging implications for everyone and every business. It requires professionals who can understand it and communicate that information to employers or clients and, in many cases, the American people. While discussed mainly in terms of politics and business in the United States, economics professionals are needed in every industry in the country.
But how do you begin to search for the undergraduate economics degree that suits you best? While affordable programs are relatively easy to come by, you need to consider class size, the reputation of the program and options that come with the degree. These are all important to keep in mind, particularly if you want a good experience that includes supportive instructors and open communication. This ranking goes into all of that while also providing information on the degree itself.
Methodology
This ranking required a great deal of research which began with a trip to the Nation Center for Education Statistics. We used the site’s publicly available and free College Navigator database. We searched for schools offering a bachelor’s degree in economics with a maximum tuition of $15,000.
Two major factors played a role in this ranking: tuition and student-to-faculty ratio as reported by NCES. Tuition is a huge consideration for most students and their families, especially if one academic year is equal to a year’s working salary. Great care was taken to ensure that only schools that offered an affordable tuition rate based on one year of study were included.
Tuition for one year – based on 15 hours per semester:
Under $7,500 – 3 Points
$7,500 – $15,000 – 2 Points
$15,001 and above – 1 Point
Student: faculty ratio was also considered. Students generally report high satisfaction and higher retention rates when in smaller class sizes, which leads to greater individualized attention. Smaller class sizes have also been linked to higher graduation rates, so students will want to keep this in mind.
Student to faculty ratio:
10:1 or less – 3 Points
11:1 to 15:1 – 2 Points
Greater than 15:1 – 1 Point
The final 15 schools were chosen based on the above methodology. They are listed below in descending order based on the total amount of points awarded during the research process.
Ranking 15 Best Affordable Economics Degree Programs (Bachelor’s) 2019
15. South Dakota State University
Brookings, South Dakota
Total Points: 3
Program Website
South Dakota State University offers an affordable degree in economics that will be a great fit for business-minded students. The school offers BA or BS in the field, focusing on:
- business
- sales
- management
- finance
- marketing
courses range from Money and Banking and Legal Environment of Business. This inexpensive 120-credit hour economics degree program is a great choice for students who wish to move into the business field after graduation. It provides them with a comprehensive program designed to fit their needs. With small class sizes and a dedicated faculty, students are going to be in a great position to be qualified candidates in the workforce.
Tuition
In-State: $8,764
Out-of-State: $12,128
Student : Faculty Ratio: 17:1
14. Bemidji State University
Bemidji, Minnesota
Total Points: 3
Program Website
An affordable economics degree is possible through Bemidji State University. This school offers a low-cost Bachelor of Science in Economics as well as a separate economics minor. This affordable economics degree program was designed specifically for students who want to join the workforce straight after graduation or want to move into graduate work. Students spend the majority of their time:
- engaging in research
- solving problems
- working through experiential opportunities.
Students will have access to small class sizes as well as one tuition rate for both in-state and out-of-state students. This makes it a great choice for anyone interested in the field.
Tuition
In-State: $8,696
Out-of-State: $8,696
Student : Faculty Ratio: 20:1
13. Northern State University
Aberdeen, South Dakota
Total Points: 3
Program Website
Northern State University is one of the most affordable colleges for an economics degree. The school’s top-value Bachelor of Science in Economics is a program that teaches students all about the different aspects of the field. Graduates can hit the ground running. The degree was designed to prepare students for the workforce. An internship is required for graduation, as well as other excellent experiential learning opportunities. The affordable economics degree program is backed by experienced professors, most of whom are still active in the field. Students can reach out to them to ask questions and concerns about the field. With courses ranging from Introduction to Econometrics to International Finance, students will find the courses that they need for their career.
Tuition
In-State: $8,497
Out-of-State: $11,470
Student: Faculty Ratio: 19:1
12. Metropolitan State University
Saint Paul, Minnesota
Total Points: 3
Program Website
One of the most affordable universities for an economics degree is Metropolitan State University. The BS in Economics program comes with two tracks:
- general economics
- business economics
The program is designed to help students figure out whether they need a specialization or if they want to pursue a general degree. Students may also take on minors in related fields, such as applied mathematics or applied statistics. Both of these are great for economics professionals. This inexpensive economics degree program requires 120 credit hours for graduation. It’s a comprehensive, overall course of study. The program will help students meet their goals, whether that’s moving into the workforce after graduation or entering graduate school.
Tuition
In-State: $7,879
Out-of-State: $14,980
Student: Faculty Ratio: 17:1
11. Truman State University
Kirksville, Missouri
Total Points: 3
Program Website
Truman State University offers students a high-value affordable degree in economics. This economics bachelor’s program is buoyed by:
- a strong faculty
- small class sizes
- numerous experiential learning opportunities
Students can choose between a BS or a BA. It is also possible to choose a minor in a related field to build a well-rounded degree. This low-cost 120-credit hour economics degree program offers students the chance to complete various experiential learning opportunities, such as:
- research projects
- internships
- participation in student groups
- study abroad
At Truman, students work with professors, creating the familial atmosphere that the school is known for. Combined with economical tuition and small class sizes, this school is a good choice for an economics degree.
Tuition
In-State: $7,749
Out-of-State: $14,601
Student: Faculty Ratio: 16:1
10. University of Central Missouri
Warrensburg, Missouri
Total Points: 3
Program Website
One of the best-value economics degrees is from the University of Central Missouri. This school offers students the chance to complete an affordable Bachelor of Science in Business Administration with a minor in economics. This economics degree program is supported by small class sizes and professors who are nationally renowned for their work in the field. The program is120-credit hours. Students also have the opportunity to participate in:
- internships
- student-led organizations
- study abroad program
- co-curricular activities sponsored by the faculty
With affordable tuition in hand and a dedicated staff behind them, students are more than prepared to become experts in the field.
Tuition
In-State: $7,673
Out-of-State: $14,442
Student: Faculty Ratio: 18:1
9. Western Illinois University
Macomb, Illinois
Total Points: 4
Program Website
Western Illinois University has an affordable online economics degree that will fit into the lifestyle and budget of every student. The inexpensive Bachelor of Business in Economics or Bachelor of Arts in Economics can be completed online, on-campus, or as a hybrid program. This top-value economics degree requires 120 semester hours. It offers students the additional option to complete both a bachelor’s and a master’s degree in just five years. The programs are both accredited by the Association to Advance Collegiate Schools of Business, demonstrating the program’s academic academic excellence. Students can also take part in:
- scholarships
- student-run programs
- the Analytics Economics Student Association
The Analytics Economics Student Association provides professional development as well as networking opportunities for students.
Tuition
In-State: $12,951
Out-of-State: $12,951
Student: Faculty Ratio: 14:1
8. Eastern Illinois University
Charleston, Illinois
Total Points: 4
Program Website
The best-value economics degree at Eastern Illinois University was designed for students who want a comprehensive degree with small class sizes and a dedicated faculty. This economics degree program features award-winning faculty. It prepares students to enter their career after graduation or go into graduate study. Students are required to complete experiential learning opportunities in this 120-credit hour program. This includes traditional and unique internship programs. Students complete this program with a capstone course. The capstone focuses students on an in-depth study that requires research and other skills. It enables students to demonstrate their knowledge of the field to their professors. Then, they are ready to move into the field as professionals.
Tuition
In-State: $11,803
Out-of-State: $14,023
Student: Faculty Ratio: 14:1
7. Park University
Parkville, Missouri
Total Points: 4
Program Website
Park University offers students the chance to complete a low-cost economics degree with solid preparation for their careers. This affordable economics degree program is for students interested in both entry-level work and graduate study. This ensures that anyone who takes on the 120-credit hour program will be in good hands. This top-value economics degree program has allocated a large portion of its courses specifically to economics, making it a great start to a lifelong career in economics. Courses range from International Trade and Finance to Advanced Business Statistics. The small class sizes help ensure that students will be well-prepared for whatever challenges they may face as they enter their career field.
Tuition
In-State: $11,572
Out-of-State: $11,572
Student: Faculty Ratio: 15:1
6. North Dakota State University
Fargo, North Dakota
Total Points: 4
Program Website
North Dakota State University offers a great high-value affordable economics degree. This 120-credit hour course of study focuses on all of the major aspects of the field. It has two tracks:
- general economics
- quantitative economics
Quantitative economics the latter is perfect for students interested in taking on research roles after graduation. This program is sequential, building the student’s knowledge base as the terms progresses. It enabling them to combine past knowledge with new skills and concepts they are learning in the classroom. Students will be able to also choose a non-declared emphasis from a variety of directed electives. This gives them the chance to build expertise knowledge with a dedicated faculty and staff.
Tuition
In-State: $9,414
Out-of-State: $13,393
Student: Faculty Ratio: 20:1
5. University of Nebraska at Kearney
Kearney, Nebraska
Total Points: 4
Program Website
The University of Nebraska at Kearney provides students with a top-value economics degree that will prepare them for success in the real world. This 120-credit hour program offers students the chance to take part in the Bachelor of Arts in Business Administration Comprehensive – Economics emphasis. Courses range from Business Communications to Foundations of Research Methods in Economics and Business. The program is well-rounded. It provides students with the knowledge and skills necessary to blend business and economics in their career. With experienced faculty, small class sizes and affordable tuition, students are well-prepared to graduate and enter the workforce seamlessly.
Tuition
In-State: $7,512
Out-of-State: $13,742
Student: Faculty Ratio: 14:1
4. Southeast Missouri State University
Cape Girardeau, Missouri
Total Points: 4
Program Website
As one of the most affordable colleges for an economics degree, Southeast Missouri State University delivers a high-value economics degree. The economical Bachelor of Business Administration in Economics: Business Economics option is fully accredited by the Association to Advance Collegiate Schools of Business. It’s a great choice for business-minded students who want to specialize in economics. This top-value 120-credit hour economics degree program is great for those who want to do research and other experiential learning opportunities, such as study abroad programs through the Harrison College of Business. The school’s Center for Economics and Business Research is a prestigious institution. Students have the opportunity to do their own research or work alongside the faculty. Most faculty are still working in the field while teaching classes. Along with all of this, students also have access to a great career planning center, helping them to find a job that best suits their skills.
Tuition
In-State: $7,418
Out-of-State: $13,155
Student: Faculty Ratio: 20:1
3. College of Staten Island CUNY
Staten Island, New York
Total Points: 4
Program Website
The cost-effective economics degree program at the College of Staten Island CUNY is a great choice for a comprehensive program that will prepare students for the workforce or for graduate study. This low cost economics degree has a strong focus on economic philosophy and statistics. It is a rigorous program that will benefit any student who completes it. Sample courses range from Introduction to Econometrics to Introduction to Microeconomics. Students at this school have access to small class sizes, affordable tuition, and a dedicated faculty and staff.
Tuition
In-State: $7,290
Out-of-State: $14,960
Student: Faculty Ratio: 18:1
2. CUNY York College
Jamaica, New York
Total Points: 4
Program Website
The low-cost economics degree at CUNY York College is a program that will fit every economic pre-professional’s need. The affordable BA in Economics is a program that combines experiential learning with research. The program prepares students to be critical thinkers and problem solvers. Both of these skills are in demand by employers all over the country. This program requires a total of 120 credit hours for graduation. The curriculum has a significant amount of room for students to choose directed electives for both the general economics and environmental economics tracks. Sample courses include Economics of Underdeveloped Areas and Economics of Travel and Tourism. It has small class sizes and affordable tuition for both in-state and out-of-state students. Faculty are published in economic research journals across the country.
Tuition
In-State: $7,158
Out-of-State: $14,828
Student-to-Faculty Ratio: 20:1
1. CUNY Hunter College
New York, New York
Total Points: 4
Program Website
CUNY Hunter College is ranked as our best affordable college for an economics degree. The program is unique in that it approaches its BA in Economics like a STEM major instead of a social science. This is because the program views the base of the curriculum to be math and statistics, an interesting and refreshing perspective on the field. While it may be viewed as a STEM major, the program is built for everyone, including those who would like to pursue law or environment positions with graduate work. This is a best-value 120-credit hour economics degree program. It includes a variety of rotating electives, extremely small class sizes, and a dedicated full-time faculty.
Tuition
In-State: $7,182
Out-of-State: $14,852
Student Faculty Ratio: 12:1
Frequently Asked Questions
What are the Career Options for an Affordable Economics Degree?
Economics is a field that lends itself to a variety of careers in both the public and private sector. However, the most interesting tend to come from the business, technology, and politics industries as their skills were made specifically to help businesses and governments with the economics of day-to-day operations and more. Here is a partial list of the positions available for professionals with a bachelor’s degree in economics:
-
- Financial Analyst
- Senior Financial Analyst
- Senior Project Manager
- Operations Manager
- Chief Financial Officer
- Finance Manager
- Senior Data Analyst
- Business Developer Manager
- Senior Business Analyst
- Business Intelligence Analyst
- Information Technology Business Analyst
Please note that a bachelor’s degree is the only education required for many of these careers. However, additional professional education and training, as well as qualifications, can be immensely helpful your job search. These opportunities do not have to take the form of an on-campus program. Instead, you can look to:
- professional training programs in your workplace
- take online courses
- attend workshops and conferences
It is highly recommended that professionals in this area consider additional training opportunities to solidify their demand in the workplace.
What is the Typical Salary in the Field of Economics?
Professionals with a bachelor’s degree in the field of economics have one of the highest starting salaries available. Individuals make an average salary of $71,000, according to PayScale. Please note that this is an average for all positions across all sectors in the United States and is not meant to reflect only starting salaries. This includes mid-range salaries as well. It also includes similar positions in different regions where pay could be drastically different.
The salary range for an undergraduate degree in economics ranges from about $35,000 to over $250,000. This includes executive-level positions in business as well:
- freelancers
- consultants
- government employees, and more
Please note that the higher the salary, the more expectation there will be of additional professional training and education beyond the bachelor’s level.
Also important to keep in mind is that salaries depend on a particular industry’s demand for it as well as the region. Regions with higher cost-of-living expenses will usually offer higher salaries, which correspond to the wages that a professional would need in order to live in the area. However, these positions also tend to be in high-profile areas where the industry has a huge presence and can result in more competition for professionals.
What Specializations are Available for an Economics Degree?
There are not a lot of specializations available at the undergraduate level for economics students. There are two reasons for this.
-Economics professionals need a general, comprehensive understanding of the field to be effective in a variety of fields
-The specialization that does exist, business economics, is designed specifically for professionals who know they want to work in the private sector.
You don’t need to worry so much about specializations at the undergraduate level. It is best to focus on the general aspects of the field. A graduate degree can take care of more advanced courses. The only time a specialization is required is if you know you want to work in the business sector after graduation.
Students who choose to pursue economics are doing the country a great service. With their knowledge of the field, they will be useful additions to any industry in the country. They can even work for multi-national companies or nonprofit organizations that operate worldwide. Our ranking of the best affordable colleges for economics degrees will give you plenty of choices to find the right fit for your personality and goals.
AS Staff
This concludes our ranking of the 15 Best Affordable Colleges for Economics Degrees (Bachelor’s).
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