Best Economics Programs in Illinois for 2027

Chicago organizes its economics BA into five parts: fundamentals, a three-course core built around the economic approach, an empirical methods sequence, an economic policy course, and electives. Electives can include up to two preapproved courses from computer science, statistics, mathematics or the Booth School of Business. If you want more focus, there are specializations in business economics, data science and politics and policy. A joint BA/MA lets fourth-years take nine graduate courses toward a Master of Arts in Economics while still finishing the BA. Third-year students who finish the five categories early can write an honors thesis in a senior workshop.

Specializations

Business economics, data science, politics and policy

Joint BA/MA

Nine graduate courses in the fourth year, with the college financial aid package retained

Program Sources: Standard Economics Track | Kenneth C. Griffin Department of Economics

Northwestern's economics major is 12 units: three introductory courses including applied econometrics, three intermediate theory courses, and six field courses at the 300 level, plus calculus and a probability and statistics course. Because core classes run every quarter, many of the department's roughly 1,000 majors add a second major or minor. Honors is by invitation and ends in a thesis of original research. A selective BA/MA lets top majors earn a master's in their fourth year, and it expects a 3.8 GPA, a two-quarter econometrics sequence, real analysis and an early start on a thesis idea.

Major Structure

12 units: 3 introductory, 3 intermediate theory, 6 field courses at the 300 level

BA/MA Track

Highly selective; about 3.8 GPA, the ECON 401 math course and an early thesis idea

Program Sources: Economics Major | Northwestern University Academic CatalogBA/MA Program: Department of Economics | Northwestern University

Illinois splits economics into two degrees. The BA takes 30 hours of economics, calculus and 18 hours of supporting coursework outside the department, which leaves room for a second area of study. The STEM-designated BS in Econometrics and Quantitative Economics is heavier: 12 hours of 400-level econometrics, quantitative, computational or mathematical economics, plus linear algebra, statistics programming and an introductory computing course. Both start with micro and macro principles and two economic statistics courses, then intermediate theory, and students can choose electives in micro, macro or econometrics.

BA Structure

30 hours of economics, calculus, and 18 hours of supporting coursework

BS Structure

30 hours of economics including 12 at the 400 level, plus calculus, matrix theory and statistics programming

Program Sources: Econometrics & Quantitative Economics, BSLAS | 2026-2027 Course Catalog | University of Illinois Urbana-Champaign

Wheaton's economics BA is 40 credits and keeps a small core: principles of micro and macro, statistics, intermediate micro and macro, econometrics, calculus and a two-credit senior seminar. Twelve elective credits let you steer toward finance, policy or international topics, and up to six hours of internship or independent study can count toward the major. The department describes its approach as bringing a Christian perspective to economic theory and practice. Honors is available, and the campus sits about 25 miles from downtown Chicago, which helps with internships.

Required Core

Principles, Statistics, Intermediate Micro and Macro, Econometrics, Calculus I, Senior Seminar

Internship Credit

Up to six hours of internship and independent study count toward the major

Program Sources: Economics Major < Wheaton College, IL

DePaul's economics BA is taught at the Loop campus in downtown Chicago, close to the city's financial district. After principles, intermediate micro and macro, economic analytics and a statistics course, majors choose eight upper-level electives, and DePaul publishes focus areas to guide them: business strategy, international economics, data analytics, economic policy, health economics, macroeconomic policy, and preparation for a PhD. A combined bachelor's plus master's lets students finish both degrees in as few as five years, and a 3+3 BA/JD path links to the College of Law.

Focus Areas

Business strategy, international, data analytics, policy, health economics, macro policy, PhD preparation

Combined Degrees

Bachelor's plus master's in as few as five years; 3+3 BA/JD

Program Sources: Major Requirements | DePaul University | Chicago, IL

Chicago’s first-year core is organized around price theory, the theory of income, and quantitative methods, followed by a three-part examination. The second year turns to specialized fields before students move into independent research. Economics workshops connect the department with the Booth School of Business, Harris School of Public Policy, and Law School. Research and teaching then occupy most of the later years, alongside development of the dissertation.

Core Examination

Three-part exam in Price Theory, Theory of Income and Quantitative Methods, taken the summer after year one

Required Research Seminar

Third-year seminar where students develop research ideas and form an advisory committee

Funding

All students fully funded for the six-year program

Program Sources: Program Overview | Kenneth C. Griffin Department of EconomicsProgram Overview | Kenneth C. Griffin Department of Economics

Northwestern combines yearlong sequences in microeconomics, macroeconomics, and econometrics with three field sequences. Economic history is required, with a choice between American and European history courses. Students also prepare and present two research papers in the graduate student seminar or an equivalent setting. An oral examination approves the dissertation prospectus before the independent dissertation and final defense, making early research presentations a formal part of the degree.

Core Sequences

Satisfactory grades in microeconomics, macroeconomics and econometrics

Economic History

One course: ECON 420-1 American Economic History or ECON 420-2 European Economic History

Fields

Three field sequences of at least two quarters each

Research Papers

Two papers presented in the Graduate Student Seminar (ECON 501-0) or an equivalent

Program Sources: Economics PhD | Northwestern University Academic CatalogEconomics PhD | Northwestern University Academic Catalog

Illinois allocates substantial doctoral coursework to field electives and research seminars alongside its microeconomics, macroeconomics, and statistics and econometrics core. Students complete two fields through coursework or examination and submit an original research paper before the third year begins. That paper must be approved during the third year. Qualifying examinations, a preliminary examination, and the final dissertation defense mark the progression from formal preparation into independent research.

Credit Structure

96 hours: 8 each in macro and micro theory, 8 in statistics and econometrics, 24 field electives, 16 workshops and seminars, 32 thesis

Qualifying Exams

Comprehensive exams in econometrics, macroeconomics and microeconomics, with a second and third attempt allowed

Research Paper

Submitted before the third year and approved by the end of it

Fields

Two fields completed through coursework or a written examination

Program Sources: Degree Requirements | Department of Economics | IllinoisDegree Requirements | Department of Economics | Illinois

UIC enrolls about 10 new doctoral students a year, so classes stay small and faculty contact is steady. The department is strongest in applied microeconomics, particularly labor, education, development, public finance and health, along with international macroeconomics. Its distinguishing feature is student-faculty collaboration: recent students have coauthored papers published in the Economic Journal, the Journal of Labor Economics, the Journal of Health Economics and the Economics of Education Review. About half of the students are from the United States and half from abroad, and three weekly research seminars run during the year.

Cohort Size

About 10 new doctoral students per year

Strengths

Labor, education, development, public finance, health and international macroeconomics

Program Sources: Ph.D. in Economics | Economics | University of Illinois Chicago

Southern Illinois University Carbondale has students pick two areas of focus from economic development, international economics, monetary theory and policy, and finance. The first year is a theory and econometrics core followed by qualifying exams in the summer, then field courses and field exams, ahead of the dissertation. The PhD is STEM-designated, giving international graduates three years of work authorization after graduation without needing an H-1B. Students write dissertations under faculty guidance, and many receive support for presenting their research at conferences.

Areas Of Focus

Economic development, international economics, monetary theory and policy, finance (choose two)

Exam Path

Summer qualifying exams after year one, then field exams

Program Sources: Doctorate in Economics | Business | SIU