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QS Rank:

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1

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Massachusetts Institute of Technology

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Massachusetts

United States

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Program Rank

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2

The Massachusetts Institute of Technology (MIT) is a private research university in Cambridge, Massachusetts, renowned globally for its leadership in scientific and technological research. Consistently ranked among the top universities worldwide, MIT is known for its rigorous academic programs, groundbreaking research, and emphasis on hands-on problem-solving. The Bachelor of Science in Economics (Course 14-1) at MIT, offered by the School of Humanities, Arts, and Social Sciences, provides extensive training in economic theory, data analysis, and specific economic issues, preparing students for careers in industry, government, or further academic study.
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Total Tuition Fees

$2,57,240

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Duration

48 Months

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Median Salary

$58,000

Ranking

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#2

US World and News Report

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#5

The World University Rankings

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#1

QS World University Rankings

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Intake

Fall ( Sept - Nov )

Class Profile

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Class Size

100

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Average Age

20

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Average Work Experience

0 Years

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Full-Time Enrollment

4,588 Undergrads

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Admission Policy

GPA: Require; Rank: Consider if Submitted; Prep Courses: Consider if Submitted; Recommendations: Require

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International Students

11.66

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Rentention Rate

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99

Career Outcomes

Graduates with an economics major from MIT are well-prepared for diverse career paths in industry and government, or for advanced academic pursuits in economics, law, business, and other fields. The program's rigorous training in economic theory and data analysis equips students with strong analytical and problem-solving skills highly valued across sectors.
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Median Earnings After Graduation

$58,000 / year

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Graduation Rate

96%

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Job Placement

82%

Prospective Job Roles

Policy Analyst

Financial Analyst

Data Scientist

Economist

Management Consultant

Top recruiters

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Eligibility Criteria

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At least 3.9 / 4.0 undergraduate GPA is expected.

English Proficiency Tests

  • PTE

    65

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  • TOEFL

    90

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  • IELTS

    7

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  • Duolingo

    120

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  • Cambridge

    185

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Application Requirements

Here's everything you need to know to ensure a complete and competitive application—covering the key documents and criteria for a successful submission.

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Application Fee: 75

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    Transcript

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    English Proficiency Test

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    Interview

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    Resume

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    Academic LOR

Application Deadlines

Early ActionRegular Action
FallNov 1, 2024May 1, 2027

Fees and Funding

The full price of an MIT education for the 2025–2026 academic year is $89,340, though most students pay less due to financial aid. Tuition covers academic instruction. Estimated costs for books and supplies are $910 annually.
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Tuition Fees

$59,750 / year

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Overall Cost

$85,960 / year

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Average Total Aid Awarded

$69,036 / year

Funding Options

Scholarship

Average aid awarded: $69,036. 56% of students receive financial aid. 100% of financial need met

Scholarships

MIT Scholarship (USD 10,268) - The median annual price paid by an undergraduate who received an MIT Scholarship was $10,268 in the 2024–2025 academic year. MIT offers full-need financial aid, meeting 100% of demonstrated financial need for all four years. For the 2025–2026 academic year, students whose family income is under $200,000 a year (with typical assets) attend MIT tuition-free. Families whose total income is less than $100,000 (with typical assets) are not expected to contribute toward their student's MIT education. MIT is need-blind.; General Financial Aid (USD 58,429) - Approximately 72% of MIT's undergraduates receive financial aid from the institute. The average aid amount is $58,429, which could cover 93.64% of the full tuition amount.
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    General Financial Aid

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    MIT Scholarship

FAQs

  • A student can complete Economics at Massachusetts Institute of Technology with in 48.
  • The annual tuition fee to pursue Economics at Massachusetts Institute of Technology is USD 53450.
  • The submission of these scores mainly depends on the type of degree/ course selected at the Massachusetts Institute of Technology. For example, the GMAT test is required to take admission to an abroad graduate management program, the LSAT is required during an abroad Law School admission process, and more. Therefore, check Massachusetts Institute of Technology requirements before submitting a score.
  • Economics can help Indian/ international students gain: 1. Quality and Practical Education 2. Global Recognition 3. International Exposure 4. Amazing Job Opportunities 5. Experience of Lifetime and more
  • If a student fulfils all the eligibility criteria and admission requirements of Massachusetts Institute of Technology, they can easily pursue Economics. The basic eligibility criteria include the following: 1. A GPA above 3 2. Well-written Statement of Purpose 3. An impressive Letter of Recommendation 4. A Work Experience Certificate (if required) 5. A Statement of Financial Proof 6. Academic Transcripts 7. Valid Visa, etc.
  • An MS degree at Massachusetts Institute of Technology can usually be completed in 2 years. However, many universities offer a 1-year master’s specialisation as well. You can explore the official Massachusetts Institute of Technology website to check the course/ degree duration.
  • One can apply for scholarships to pursue their international education at Massachusetts Institute of Technology by: 1. Looking for country-specific scholarships by contacting the specific scholarship institutions. 2. Applying to or finding out if any subject-specific scholarships are available from the university website/ department.

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