9 best schools for Economics in the world

What do actor Arnold Schwarzenegger, singer Lionel Richie, and Walmart founder Sam Walton have in common? Well, besides being icons in their fields, they all studied economics.

According to Harvard Business School, one of the best schools for economics in the world, this subject explores how individuals, groups, and nations manage and use resources. With this degree, you will be landing jobs as an economist, data analyst, financial risk analyst, financial planner, and actuary, to name a few.

With the global economy projected to grow by 2.5% in 2025, this is the perfect time to pursue this degree and learn to analyse trends and provide insights to shape policy decisions and business strategies.

But even if you don’t plan on becoming an economist or any of the roles we listed above, an economics degree can open doors to unexpected opportunities — just look at Schwarzenegger and Richie.

Richie uses his economics degree to help him run his businesses in luxury home décor, media and tech, and more. Meanwhile, Schwarzenegger applied his economics knowledge to grow his construction business long before he became a Hollywood star.

So, no matter your career goals, a strong foundation in economics can take you far. Want to know where to begin? Take a look below:

9 best schools for economics in the world

The University of Cambridge has a long history of distinguished economists and is often called the birthplace of macroeconomics. Source: AFP

University of Cambridge, UK

For over 800 years, the University of Cambridge has inspired generations of scholars and innovators.

Nowhere is this more evident than in its Faculty of Economics, #1 in the UK for Economics, according to  The Complete University Guide 2024. Having shaped over 120 Nobel laureates, Cambridge’s influence on the field is unparalleled, and it’s here that BA in Economics (Hons) students explore everything from core and applied economics to insights from maths, sociology, and even history.

For postgraduate studies, Cambridge provides six specialised programmes, including the Advanced Diploma in Economics, MPhil in Economics, MPhil in Economic Research, MPhil in Finance and Economics, MPhil in Economics and Data Science, and PhD in Economics.

However, what makes Cambridge one of the best schools for economics in the world is how it prepares students for life after graduation.

From access to advanced databases and the Marshall Library of Economics to joining the student-led Marshall Society, you’ll find plenty of opportunities to grow academically and socially.

People walk past one of two bronze lions outside the HSBC building in Hong Kong on February 19, 2025. As an Asian hub of finance, Hong Kong is a strategic base for some of the best schools for economics in the world. Source: AFP

University of Hong Kong, Hong Kong

Founded in 1911, the University of Hong Kong (HKU) is not only Hong Kong’s oldest university but also one of the most respected in the world, ranked #17 in the QS World University Rankings.

The Association to Advance Collegiate Schools of Business (AACSB) and European Quality Improvement System (EQUIS)-accredited Faculty of Business and Economics, formed in 1995, is a key part of HKU’s commitment to providing top-tier education and research in business and economics.

It offers a variety of undergraduate and postgraduate programmes, including an MBA, which ranks #43 in the world for full-time MBA programmes by the QS World University Rankings. 

Meanwhile, the Bachelor of Economics provides students with a broad understanding of economic theory, statistical tools, and practical applications in trade, banking, and labour markets.

Eric S. Maskin, a 2007 Nobel laureate in economics, is a Harvard professor known for his work on mechanism design theory, which has shaped trading systems, regulations, and voting methods. Source: AFP

Harvard University, US

When it comes to the best schools for economics in the world, Harvard University in the US is almost always mentioned.

Ranked #1 in the QS World University Rankings for Economics and Econometrics in both 2023 and 2024, Harvard has earned perfect scores in academic reputation, employer reputation, and employment outcomes, cementing its status as a global leader in economics education and research.

But why is Harvard’s Department of Economics so special?

For a start, it’s been around since 1897. Since then, the schools has been home to several Nobel Prize winners, including Michael Kremer (for reducing the massive problem of global poverty) and Eric S. Maskinm (for having laid the foundations of mechanism design theory), to name just two.

All undergraduate students must take introductory and intermediate courses in economic theory to develop an understanding of key mathematical models.

Basic preparation in calculus is essential too, alongside training in statistical methods to analyse real-world data and test economic theories.

Thinking about further studies? Designed for full-time study, Harvard’s graduate programme immerses students in an intellectually stimulating environment.

The department hosts over 15 weekly seminars covering diverse topics such as environmental economics, international trade, behavioural economics, and economic history.

University of Toronto, Canada

Among the many universities in Canada, the University of Toronto’s Department of Economics stands out as one of the best schools for economics in the world.

Its programme offerings are designed to cater to a wide range of academic and professional interests.

• The Economics (HBA) lays a foundation in the principles of economics, addressing challenges like resource scarcity and the demand for goods and services.
• The Financial Economics (HBSc) is ideal for careers in finance or advanced graduate studies.
• The International Affairs (HBA) equips students with the linguistic and analytical skills to navigate international economic, political, and commercial relationships.
• The Economics and Political Science (HBA) takes an integrated approach, examining critical issues like rising tuition and global conflicts by combining the study of economics with political science.

Tucked away on 225 acres of greenbelt along the Credit River, the Mississauga campus offers a peaceful learning environment — complete with the occasional deer sighting!

Through the Behavioural Laboratory, researchers at Monash University — one of the best schools for economics in the world — found that bribery is contagious. Source: AFP

Monash University, Australia

Since its founding in 1961, the Department of Economics has been a cornerstone of the university, building a reputation for high-quality teaching.

Today, the school is recognised as #1 in Australia and #9 globally for Economics and Business in 2024. It holds “Triple Accreditation” from three global accrediting bodies, placing it among only 129 business schools worldwide – and the only institution in Victoria – to achieve this distinction.

The department’s goal is to equip students with skills adaptable to various careers across industry, government, and non-governmental organisations. 

Throughout your studies, you will develop advanced expertise in economic theory and applied economics, with a strong focus on technical, analytical, and communication skills.

Graduates from Monash’s economics programme are well-positioned for employment in government departments and agencies, including the Reserve Bank of Australia, the Australian Bureau of Statistics, the Australian Treasury, and the Productivity Commission.

New Zealand is not the first country that pops to mind for best schools for economics in the world. But it should. This country was one of the best in weathering the COVID-19 pandemic’s devastating impact on jobs and resources. Source: AFP

University of Auckland, New Zealand

Offering undergraduate and postgraduate programmes across the Business School, Faculty of Arts, and Faculty of Science, the university allows students to tailor their studies to their personal interests and career goals.

This flexibility ensures that graduates have the skills and knowledge to thrive in various sectors, including business, government, and non-governmental organisations.

The university’s internationally recognised faculty brings expertise in diverse areas, such as behavioural economics, environmental economics, macroeconomics, international trade, and finance.

Graduates have gone on to work for organisations like ANZ, the World Bank, and the Reserve Bank of New Zealand, with many also continuing their studies at top universities like Chicago, Columbia, Oxford, and Yale.

NUS, one of the best schools for economics in the world, is where students can pursue their interests, try different activities, and form new connections, making the experience as valuable as the learning itself. Source: AFP

National University of Singapore, Singapore

Undergraduate offerings at the National University of Singapore’s (NUS), one of Asia’s largest and most trusted economics departments, are all about maximum flexibility.

Economics can be pursued as a major or minor, and students can enrich their studies through cross-disciplinary programmes such as Philosophy, Politics, and Economics (PPE), as well as Data Science and Economics.

The department’s graduate programmes uphold the same level of excellence.

The popular Master of Economics offers two tracks, the Applied Economics track and the Quantitative Economics track. Meanwhile, the highly selective PhD in Economics is a research-intensive advanced course where students engage with experienced faculty members who specialise in every major field of economics.

Amidst tensions between the US and China, Southeast Asian countries like Malaysia are benefiting — making University of Malaya one of the best schools of economics in the world to witness first-hand how and why foreign companies move their manufacturing facilities out of China and into other countries. Source: AFP

University Malaya, Malaysia

Ranked #60 in the QS World University Rankings 2025, the University Malaya (UM) offers a Bachelor of Economics in the heart of Malaysia’s capital, Kuala Lumpur.

It offers a mix of essential courses and electives, ensuring a strong foundational knowledge while giving students the flexibility to specialise in one of five areas: Applied Economics, Financial Economics, Development Studies, Public Administration, and Applied Statistics and Analytics.

 

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Tsinghua University, China

Tsinghua University in Beijing is divided into 20 schools and 57 departments, offering various academic fields.

Among these is the School of Economics and Management (Tsinghua SEM), which comprises seven departments: Accounting, Economics, Finance, Innovation, Entrepreneurship and Strategy, Leadership and Organisation Management, Management Science and Engineering, and Marketing.

Its Economics and Finance programme follows a basic curriculum that includes economics, finance, accounting and management theory, mathematics, and statistics, as well as language, writing and communications, information and network technology, and other technical courses.

Want to study economis in two universities? The English-taught, 4-year undergraduate dual degree programme with Chinese University of Hong Kong lets you spend two years at each uniersity.