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4 Years On Campus Bachelors Program
Massachusetts Institute of TechnologyThe Bachelor of Science in Economics (Course 14-1) at MIT offers a rigorous and flexible curriculum that combines deep theoretical foundations with practical, data-driven analysis. Designed for students aiming to impact fields like consulting, public policy, finance, or academia, this program emphasizes critical thinking, quantitative skills, and independent research.
Curriculum Structure
Year 1: Foundations in Economic Theory and Mathematics
Students begin with core courses such as 14.01 Principles of Microeconomics and 14.02 Principles of Macroeconomics, establishing a solid understanding of economic principles. These are complemented by mathematics courses like 18.01 Calculus I and 18.02 Calculus II, which provide the quantitative tools necessary for advanced economic analysis.
Year 2: Introduction to Econometrics and Intermediate Theory
The second year delves into statistical methods with 14.30 Introduction to Statistical Methods in Economics, covering probability theory, estimation, and regression analysis. Students also take intermediate theory courses such as 14.03 Microeconomic Theory and Public Policy and 14.04 Intermediate Microeconomic Theory, deepening their analytical skills and understanding of economic models.
Year 3: Advanced Topics and Research Skills
In the third year, students explore advanced topics through electives like 14.05 Intermediate Macroeconomic Theory and 14.32 Econometrics. The program emphasizes research skills with courses such as 14.33 Research and Communication in Economics: Topics, Methods, and Implementation, preparing students for independent research projects and thesis work.
Year 4: Specialization and Capstone Experience
The final year allows students to specialize in areas of interest through electives like 14.18 Mathematical Economic Modeling and 14.35 Why Markets Fail. Students may also engage in a senior thesis, applying their accumulated knowledge to original research under faculty supervision.
Focus Areas:
Microeconomics, Macroeconomics, Econometrics, Public Policy, Financial Economics, Development Economics, Behavioral Economics, Industrial Organization
Learning Outcomes:
Graduates will possess a deep understanding of economic theory, proficiency in statistical and econometric methods, and the ability to conduct independent research and communicate findings effectively.
Professional Alignment (Accreditation):
The program is part of MIT's School of Humanities, Arts, and Social Sciences and adheres to the institute's rigorous academic standards.
Reputation (Employability Rankings):
MIT's Economics Department is consistently ranked among the top globally, with its doctoral program frequently recognized as the best in the world.
At MIT, economics students don’t just study theory—they learn how to apply it. The Department of Economics is deeply integrated into MIT’s hands-on, problem-solving culture. Whether students are analysing data in cutting-edge labs, conducting original research under faculty mentorship, or collaborating on global economic problems, they graduate with real-world analytical, technical, and communication skills. The department blends rigorous quantitative training with numerous opportunities to tackle meaningful economic questions using real data, advanced tools, and collaborative environments.
Students get access to world-class facilities, specialised labs, and mentorship from some of the top economists in the world.
Here’s how experiential learning is built into the program:
Undergraduate Research Opportunities Program (UROP):
Students can work with MIT faculty on real economic research projects—even as early as their first year. Projects often involve data analysis, policy evaluation, or experimental economics.
MIT's Blueprint Labs:
A research lab focused on using data and empirical methods to improve education, health care, and labor market outcomes. Undergraduates assist with field experiments and policy research.
J-PAL (Abdul Latif Jameel Poverty Action Lab):
Students may collaborate on randomized evaluations with this globally renowned research center housed at MIT. The focus is on reducing poverty through evidence-based policy.
Economics Computation Lab (EC.Lab):
A space where students apply computational tools and programming (like Python, R, and Stata) to economic modeling and empirical research.
Group projects in advanced subjects (e.g., 14.33, 14.38):
Courses like Research and Communication in Economics involve group-based data analysis projects, often using real datasets and culminating in presentations or papers.
Access to MIT Libraries’ Dewey Library for Economics and Management:
This specialized library supports economics students with access to advanced datasets, research guides, and in-person support.
Career Development Activities:
The department works closely with MIT’s Career Advising & Professional Development (CAPD) office, where economics majors get help securing internships in government, consulting, finance, policy, and research sectors.
Field courses and seminars:
Some elective subjects include field-based case studies and policy analysis, connecting classroom theory with practical economic challenges.
Software proficiency:
Students learn to use professional tools such as Stata, R, Matlab, and Python for econometric analysis and data science applications.
Graduates of MIT’s Economics program are among the most sought-after in the world. With a strong grounding in analytical and quantitative skills, many go on to top-tier careers in finance, tech, government, and consulting. Typical roles include data analyst, economic consultant, policy advisor, and investment banking analyst.
Here’s what supports your future success:
Career Support Services:
MIT's Career Advising and Professional Development (CAPD) offers personalised coaching, resume reviews, career fairs with over 400 employers, and direct access to global recruiters.
Employment Stats:
According to the MIT Undergraduate Economics Department, over 80% of grads secure full-time employment or graduate study within six months, with starting salaries often exceeding $90,000 in finance and tech sectors.
Industry Connections:
MIT maintains deep ties with organisations like Goldman Sachs, Google, the Federal Reserve, and McKinsey & Company, regularly inviting recruiters and offering exclusive internship pipelines.
Long-term Accreditation Value:
The degree is recognised globally for academic rigour. MIT’s economics department consistently ranks #1 in the world by QS and U.S. News, making the qualification a gold standard.
Graduate Outcomes:
Alumni have progressed to roles at the World Bank, Amazon, JP Morgan, and leading think tanks, often leveraging their MIT training to take on leadership positions within 5–10 years.
Further Academic Progression:
MIT Economics graduates frequently pursue graduate study at elite institutions, including MIT itself, Harvard, Stanford, and the London School of Economics. Whether your path is a PhD in Economics, Master’s in Public Policy, or MBA, the program’s research-intensive curriculum and strong faculty recommendations provide a powerful launchpad.
MIT uses its own application system: https://apply.mitadmissions.org/ Do NOT use the Common App or Coalition App — MIT doesn't accept themSAT/ACT Update: MIT requires the SAT or ACT (without the optional essay or writing section) for both first-year and transfer applicants. Both paper and digital SAT formats are accepted. Although MIT doesn’t require a writing test, strong writing and communication skills are essential, and all undergraduates must meet a communication requirement integrated throughout their four years.SAT/ACT score reporting: MIT superscores the SAT, ACT, and English proficiency exams, considering the highest section scores across multiple sittings. Applicants should self-report all official full test sittings (not practice tests or superscore composites). Official score reports are not required during the application process; scores will be verified upon enrollment. You can update MIT with new test results after submitting your application.English Language Proficiency: Since MIT’s instruction is in English, applicants must demonstrate strong English skills. Below are the minimum and recommended scores: TOEFL: Min 90 | Rec 100 IELTS: Min 7 | Rec 7.5 PTE Academic: Min 65 | Rec 70 Cambridge (C1/C2): Min 185 | Rec 190 Duolingo (DET): Min 120 | Rec 125.Recommendations: MIT requires two teacher recommendations—ideally one from a math/science teacher and one from a humanities, social science, or language teacher. Choose teachers who know you well both academically and personally. We also require a School Counselor Report, which typically includes your transcript and school profile. If your counselor cannot provide a letter, that’s okay—it won’t hurt your application. You may submit one optional supplemental recommendation if it adds new insights beyond the required letters. Requests should be made through the MIT application portal, but recommenders can also use platforms like Naviance or SCOIR. Submit requests early to give recommenders enough time.Interview: MIT offers optional interviews through the Educational Council, a global network of alumni. If an Educational Counselor (EC) is available, they’ll contact you after you apply—usually via the email you provided. Interviews may be in person or virtual, depending on availability. Most interviews take place in November (Early Action) and January (Regular Action). If no interview is available, it will be waived without affecting your application. Interviews typically last around an hour and are informal. Be yourself, prepare to share your interests and experiences, and no need to dress up. Questions? Email: [email protected].Early vs Regular: MIT offers two application options: Early Action (EA) and Regular Action (RA). The only difference is the deadlines—there’s no preference or advantage to either. Early Action is non-binding and open to all applicants. You can apply elsewhere during EA unless another school has restrictions (e.g., single-choice or binding offers), which MIT expects you to honor. You can only apply once per entry year. If denied in Early Action, you cannot reapply in Regular Action.MIT does not specify exact high school courses but recommends a strong foundation in mathematics, including calculus, and a solid background in science and humanities.Economist – Analyze economic data and trends to advise government agencies private corporations or consulting firms on policy markets or business strategyInvestment Banking Analyst – Support capital raising mergers and acquisitions and financial transactions by building detailed financial models and conducting valuations at investment banksData Analyst or Data Scientist – Use programming languages like Python R and SQL and statistical techniques to analyze large datasets and provide actionable insights for business or policy decisionsActuary – Combine economics statistics and mathematics to assess and manage financial risks for insurance companies pension funds and financial service firmsManagement Consultant – Advise organizations across industries on operational efficiency market entry and strategic challenges to improve overall performanceFinancial Analyst – Evaluate company financial statements market conditions and investment opportunities to guide corporate finance portfolio management or banking decisionsPolicy Analyst – Research and assess public policies related to economics labor health or education for think tanks NGOs or government agenciesQuantitative Analyst or Econometrician – Apply advanced quantitative methods and econometric models to forecast economic outcomes and guide investment or policy decisionsCertified Public Accountant CPA – Provide auditing tax planning and financial consulting services combine economic understanding with regulatory compliance in accounting firms or corporationsEconomic Researcher – Conduct academic or applied research for universities government bodies like the Federal Reserve or Bureau of Labor Statistics or international organizationsMarketing Analyst – Analyze consumer data and market trends to optimize pricing strategies product launches and promotional campaigns for corporationsFinancial Risk Analyst – Identify and quantify financial risks in banking insurance or corporate finance to develop risk mitigation strategiesInternational Development Specialist – Work on economic development projects focused on poverty reduction trade or policy reform for international agencies like USAID or the World BankFederal Reserve Analyst or Central Banker – Support monetary policy economic research and financial regulation to promote economic stability and growth at regional Federal Reserve Banks or the Board of GovernorsEntrepreneur or Startup Founder – Leverage economic principles to build businesses especially in sectors like fintech healthtech or analytics-driven platforms
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