2023 Best Value Economics Schools in Michigan
Identifying Quality Schools at More Affordable Prices
Finding the Best Economics School for You
With 1,496 degrees and certificates handed out in 2020-2021, economics is the #15 most popular major in Michigan.
There are lots of options to pick from today when trying to decide which program is right for you. You're no longer limited to schools in your local area, either, since online programs are becoming more prevalent. Or you may find the programs at a trade school to be a better alternative for you.
To assist you in seeing some of the education options that are available to you, Course Advisor has created its Best Value Economics Schools in Michigan ranking. Our analysis looked at 13 schools in Michigan to see which programs offered the best value experiences for economics students with the aim of identifying those quality schools that are more affordable than some of their counterparts.
When determining this ranking, we place a high emphasis on the school's quality as well as its sticker price. Even though a college may be affordable, it may not offer value. More specifically, we discount our quality score by the published tuition and fees charged by a school. This gives the cost per unit of quality for each college. The value is determined by how much quality your dollar buys.
Our calculations use out-of-state tuition and fees in our nationwide and regional rankings. Average in-state tuition and fees are used for our statewide rankings.
Top 10 Best Economics Schools
Our 2023 rankings named University of Michigan - Ann Arbor the best value school in Michigan for economics students. Located in the medium-sized city of Ann Arbor, U-M is a public college with a very large student population.
U-M undergraduate students pay an average of $17,193 in in-state tuition and fees each year. On average, economics graduates from U-M take out $18,742 in student loans while working on their degree. The average monthly payment of a loan this size is about $481, assuming that the borrower is on a 10-year repayment plan.
In addition to its best value ranking, and one of the reasons why the school is on the list, U-M is ranked #2 for overall quality for economics in Michigan.
Full Economics at University of Michigan - Ann Arbor Report
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The excellent programs at Michigan State University helped the school earn the #2 place on this year’s ranking of the best economics schools in Michigan. Michigan State is a very large public school located in the small city of East Lansing.
Michigan State undergraduate students pay an average of $15,966 in in-state tuition and fees each year. The average amount in student loans that economics majors at Michigan State take out is $24,125. For students who choose a 10-year repayment plan, the average monthly student loan payment is $341.
Michigan State also made our Best Economics Schools in Michigan list, coming in at #4.
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A rank of #3 on this year’s list means Grand Valley State University is a great value for economics students. Located in the suburb of Allendale, GVSU is a public college with a very large student population.
The average tuition and fees for an in-state undergraduate at GVSU are $13,900 a year. Economics majors at GVSU take out an average of $27,939 in student loans while working on their egree.
GVSU also claimed a spot on our Best Economics Schools in Michigan list. It’s in the top 15% of all schools in this category.
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A rank of #4 on this year’s list means Western Michigan University is a great value for economics students. WMU is a large public school located in the small city of Kalamazoo.
WMU undergraduate students pay an average of $13,434 in in-state tuition and fees each year.
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A rank of #5 on this year’s list means Central Michigan University is a great value for economics students. Central Michigan is a fairly large public school located in the town of Mount Pleasant.
In-state tuition fees for undergraduate students at Central Michigan are $13,094 per year. After completing their degree, economics graduates from Central Michigan carry an average student debtload of $30,406.
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Northern Michigan University did quite well in this year’s ranking of the best value schools for economics students. It came in at #6 on the list. Located in the remote town of Marquette, Northern Michigan University is a public school with a moderately-sized student population.
In-state tuition fees for undergraduate students at Northern Michigan University are $13,206 per year. On average, economics graduates from Northern Michigan University take out $23,750 in student loans while working on their degree.
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Eastern Michigan University ranked #7 on this year’s Best Value Economics Schools in Michigan list. Eastern Michigan is a fairly large public school located in the suburb of Ypsilanti.
In-state tuition fees for undergraduate students at Eastern Michigan are $15,500 per year. The average amount in student loans that economics majors at Eastern Michigan take out is $23,633.
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With a ranking of #8, University of Michigan - Dearborn did quite well on this year’s best value schools for economics students. Located in the city of Dearborn, UM Dearborn is a public school with a medium-sized student population.
The average tuition and fees for an in-state undergraduate at UM Dearborn are $13,816 a year. On average, economics graduates from UM Dearborn take out $21,875 in student loans while working on their degree.
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Oakland University landed the #9 spot in the 2023 rankings for the best value economics programs. Located in the suburb of Rochester Hills, Oakland is a public school with a large student population.
The average tuition and fees for an in-state undergraduate at Oakland are $15,135 a year.
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Wayne State University ranked #10 on this year’s Best Value Economics Schools in Michigan list. Wayne State is a very large public school located in the city of Detroit.
In-state tuition fees for undergraduate students at Wayne State are $15,199 per year. Economics majors at Wayne State take out an average of $25,500 in student loans while working on their egree.
Request InformationBest Value Economics Colleges in the Great Lakes Region
Explore all the Best Value Economics Colleges in the Great Lakes Area or other specific states within that region.
| State | Degrees Awarded |
|---|---|
| Ohio | 1,136 |
| Illinois | 2,155 |
| Indiana | 889 |
| Wisconsin | 1,225 |
More Economics Rankings in Michigan
Economics Related Majors for Economics
Economics is one of 12 different types of programs to choose from.
Most Popular Majors Related to Economics
| Related Major | Annual Graduates |
|---|---|
| Political Science & Government | 49,282 |
| Sociology | 38,475 |
| General Social Sciences | 18,997 |
| International Relations & National Security | 14,306 |
| Anthropology | 11,415 |
Notes and References
*These averages are for the top 13 schools only.
- 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 the rest 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).
- Credit for the banner image above goes to pixabay.
More about our data sources and methodologies.
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