Bachelor of Economics at Massachusetts Institute Of Technology [MIT], Cambridge Fees, Entry Requirement & Application Deadline

Bachelor of Economics From Massachusetts Institute of Technology

Cambridge, MassachusettsLocation
UniversitySchool type
Estd1861established year
11466enrollment
Private (Not for Profit)

Bachelor of Economics

4 years
Full Time
On Campus

Field of Study

$61,990 /Yr

  • Bachelor in Economics at Massachusetts Institute of Technology(MIT) is a 4-year program. 
  • The program is offered full-time.
  • This program is delivered on-campus.
  • Economics is the study of human behaviors aimed at finding solutions to help improve people’s lives.
  • MIT ranks #1 in the world among the other universities by US News Rankings 2020.
  • The study of economics can lead to many fulfilling and interesting career choices. While many graduates go on to jobs in finance, banking, or government, economics has many more facets and potential career paths.
  • The Undergraduate Economics Association (UEA) provides an informal forum for students to meet and explore various topics with faculty. 
  • The student to faculty ratio in this program is 3:1 which increases the interaction between students and faculty.
  • Classes with fewer than 20 students in this program are 70.8% which creates an environment suitable to acquire knowledge.
  • The average salary of the graduates after getting placed is 73,993 USD.

Important Dates

EventApplication Date
Early Action Application Deadline Nov 1, 2024
Regular Action Application Deadline Jan 4, 2025
Financial Aid Application Deadline Feb 15, 2025

Tuition Fees

Year1st Year Fees
Tuition Fees$61990

Other Expenses

HeadAvg Cost Per Year
Housing$13060
Transportation$3552
Food$7220
Books and supply$910
Miscellaneous expenses$2374
Total Cost$27116

Eligibility & Entry Requirement

Academic Eligibility:

  • Students should have concluded their secondary education and wish to pursue a bachelor’s degree as a full-time university student.
  • Students may apply during or after their final year of secondary education but may not apply using the first-year application if they have already matriculated to another degree-granting institution.

Others:

  • MIT admissions counselors are trained to understand the educational system in your part of the world. The university recommends that all international students study:
    • Four years of English
    • Mathematics, at least to the level of calculus
    • Two or more years of history/social studies
    • Biology
    • Chemistry
    • Physics
  • The above subjects are not compulsory but they add an extra value while applying for this program.

Transfer Students:

  • For spring entry (February), the university must receive the student final application with all supporting documents by November 15.
  • For fall entry (September), the university must receive the student final application with all supporting documents by March 15.
  • The International students may apply for September entry only.
  • One evaluation should be from a math or science instructor, and the other two should be from any instructors who know the student well. The university will find that the best recommendations are written by professors who know an applicant well as both a student and a person.
  • The students are also welcomed (but not required) to submit two supplemental letters of recommendation from high school teachers, employers, etc.

English Language Proficiency Scores:

  • The students whose official language is not English are required to submit the ELP(English Language Proficiency) Scores.
  • TOEFL scores are to be submitted and the should clear the cut-off( iBT – 90, PBT –  600) to get into this program.
  • These Scores are evaluated along with SAT or ACT exam scores which are submitted.

Exam Requirments:

  • The university requires the SAT or the ACT and does not require the ACT writing section or the SAT optional essay.


Scores Required

90 / 120

Avg. Score in

TOEFL

1500 / 1600

Avg. Score in

SAT

7 / 9

Avg. Score in

IELTS

65 / 90

Avg. Score in

PTE

120 / 160

Avg. Score in

Duolingo


Required Document List

  • Online Application: Students have to submit an online application form at the official website.
  • Application Fee: Students need to submit their application fees.
  • Statement of Purpose: Reasons or intentions for pursuing studies in this program, including a description of prior experience.
  • Letters of Recommendation: Three letters of recommendation are required.
  • Official GRE Test Scores: Students have to submit their GRE Test Scores.
  • ELP Scores: Students have to submit their English language proficiency scores like IELTS, TOEFL, or other test scores.

Ranking

20242023202220212020201920182017

QS World University logo
Economics 2 out of 560 in Global Ranking
( #2 out of 94 in USA 2024)

Similar Programs

ProgramImportant DateTotal FeesMedian Exams ScoreAction
Early Action Application Deadline (1st Nov 2024)
Regular Action Application Deadline (4th Jan 2025)
Financial Aid Application Deadline (15th Feb 2025)
USD 61,990 /Yr
  • TOEFL: 90
  • SAT: 1500
  • IELTS: 7
  • PTE: 65
  • Duolingo: 120
Restrictive Early Action Deadline For 2025 Intake (1st Nov 2024)
Regular Decision Deadline For 2025 Intake (5th Jan 2025)
USD 65,127 /Yr
  • IELTS: 6.5
  • TOEFL: 100
  • PTE: 68
  • Duolingo: 115
Restrictive Early Action Deadline For 2025 Intake (1st Nov 2024)
Regular Decision Application Deadline For 2025 Intake (3rd Jan 2025)
USD 63,402 /Yr
  • IELTS: 7
Early Action (1st Nov 2024)
Regular Decision (2nd Jan 2025)
USD 67,250 /Yr
  • IELTS: 7.0
  • TOEFL: 100
  • PTE: 70
  • Duolingo: 120
Reply Date For Regular Decision (1st May 2024)
Decision Notification For Regular Decision (1st May 2024)
Application Deadline For 2024 Intake (1st Nov 2024)
USD 62,400 /Yr
  • TOEFL: 100
  • IELTS: 8

Career and Placement after Course

Career opportunities are:

  • Actuarial Science
  • Finance.
  • Indian Economic Services (IES).
  • Law.
  • Economics and Its Related Disciplines.
  • Rural Development and Public Policy.
  • Management.
  • Consulting.

Scholarship Grants & Financial Aids

NameScholarship Per StudentLevel of StudyType
NYIT Presidential ScholarshipScholarship per student$ 25,000/Yr$25,000Level Of StudyBachelorTypeCollege-Specific
FormSwift Scholarship ProgramScholarship per student$ 1,000/Yr$1,000Level Of StudyBachelorTypeCompany-Sponsored
BL Mandhana ScholarshipsScholarship per student$ 10,000/Yr$10,000Level Of StudyBachelorTypeMerit-Based
University of PhoenixScholarship per studentVariable AmountLevel Of StudyBachelorTypeMerit-Based
Forktip Women’s- Innovation ScholarshipScholarship per studentVariable AmountLevel Of StudyBachelorTypeCollege-Specific
BrokerFish International Student ScholarshipScholarship per student$ 1,000/Yr$1,000Level Of StudyBachelorTypeMerit-Based


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