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2022 Best Value Master’s Degree Colleges for Economics (Income $30-$48k) in Illinois

11 Ranked Colleges
256 Degrees Awarded
$27,700 Avg Grad Tuition & Fees*
Best Value Economics Schools for a Master's in Illinois For Those Making $30-$48k

When pursuing a degree in today’s world, students have many different options to choose from. At College Factual, we’re committed to helping you make that decision by providing information such as that found in our “Best Value Economics Schools for a Master’s in Illinois For Those Making $30-$48k” ranking.

In 2019-2020, 48,831 people earned their degree in economics, making the major the 18th most popular in the United States. In 2017-2018, economics graduates who were awarded their degree in 2015-2017, earned an average of $47,295 and had an average of $21,978 in loans still to pay off.

Across Illinois, there were 2,106 economics graduates with average earnings and debt of $49,350 and $22,044 respectively. At the master’s degree level specifically, there were 256 economics graduates with average earnings and debt of $57,267 and $46,814 respectively.

This year’s “Best Value Economics Schools for a Master’s in Illinois For Those Making $30-$48k” ranking looked at 11 colleges that offer degrees in a bachelor’s in economics. The schools that top this list are recognized because they have great economics programs and cost less that schools of similar quality.

When determining these rankings, we looked at things such as overall quality of the economics program at the school and the cost to attend the school once aid has been awarded. For more information, check out our ranking methodology.

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The economics school you choose to invest your time and money in matters. To help you make the decision that is right for you, we’ve developed a number of major-specific rankings, including this list of “Best Value Economics Schools for a Master’s in Illinois For Those Making $30-$48k”.

You can create your own custom comparison that focuses on the factors most important to you using our tool, College Combat. Test it out when you get a chance! You may also want to bookmark the link and share it with others who are trying to make the college decision.

Best Value Economics Schools for a Master’s in Illinois For Those Making $30-$48k

The following schools top our list of the Best Best Value Economics Schools for a Master’s in Illinois For Those Making $30-$48k.

Top 11 Best Value Master’s Degree Colleges for Economics (Income $30-$48k) in Illinois

#1

Northwestern University

Evanston, Illinois
#2 in overall quality
$56,567 Avg Grad Tuition & Fees

You’ll be in good company if you decide to attend Northwestern University. It ranked #1 on our 2022 Best Value Economics Schools for a Master’s in Illinois For Those Making $30-$48k list. Northwestern is a private not-for-profit institution located in Evanston, Illinois. The school has a large population, and it awarded 34 masters’s degrees in 2019-2020.

Northwestern not only placed well in this ranking. It is also #2 on our “Best Economics Master’s Degree Schools in Illinois” list. Although you might pay more or less depending on your area of study, average graduate tuition and fees at Northwestern University are $56,567.

Read more about Economics at Northwestern

#2

University of Chicago

Chicago, Illinois
#1 in overall quality
$61,548 Avg Grad Tuition & Fees

Out of the 11 schools in the Best Value Economics Schools for a Master’s in Illinois For Those Making $30-$48k that were part of this year’s ranking, University of Chicago landed the #2 spot on the list. UChicago is a fairly large private not-for-profit school situated in Chicago, Illinois. It awarded 59 masters’s economics degrees in 2019-2020.

In addition to being on our illinois master’s degree economics students whose families make $30-$48k list, UChicago has also earned the #1 rank in our “Best Economics Master’s Degree Schools in Illinois” ranking. Average graduate tuition and fees at University of Chicago are $61,548, but you may pay more or less depending on your major.

Full UChicago Economics Report

#3

University of Illinois at Urbana-Champaign

Champaign, Illinois
#3 in overall quality
$30,083 Avg Grad Tuition & Fees

You’ll join some of the best and brightest minds around if you attend University of Illinois at Urbana-Champaign. The school came in at #3 for the Best Value Economics Schools for a Master’s in Illinois For Those Making $30-$48k. This large school is located in Champaign, Illinois, and it awarded 76 masters’s economics degrees in 2019-2020.

As a testament to the quality of education offered at UIUC, the school also landed the #3 spot in our “Best Economics Master’s Degree Schools in Illinois” ranking. Although you might pay more or less depending on your area of study, average graduate tuition and fees at University of Illinois at Urbana-Champaign are $30,083.

Full University of Illinois at Urbana-Champaign Economics Report

#4

University of Illinois at Chicago

Chicago, Illinois
#4 in overall quality
$27,036 Avg Grad Tuition & Fees

You’ll join some of the best and brightest minds around if you attend University of Illinois at Chicago. The school came in at #4 for the Best Value Economics Schools for a Master’s in Illinois For Those Making $30-$48k. Located in Chicago, Illinois, this large public school handed out 14 diplomas to qualified masters’s economics students in 2019-2020.

UIC not only placed well in this ranking. It is also #4 on our “Best Economics Master’s Degree Schools in Illinois” list. Although you might pay more or less depending on your area of study, average graduate tuition and fees at UIC are $27,036.

Full UIC Economics Report

#5

Eastern Illinois University

Charleston, Illinois
#8 in overall quality
$20,761 Avg Grad Tuition & Fees

Out of the 11 schools in the Best Value Economics Schools for a Master’s in Illinois For Those Making $30-$48k that were part of this year’s ranking, Eastern Illinois University landed the #5 spot on the list. EIU is a public institution located in Charleston, Illinois. The school has a medium-sized population, and it awarded 11 masters’s degrees in 2019-2020.

EIU not only placed well in this ranking. It is also #8 on our “Best Economics Master’s Degree Schools in Illinois” list. Although you might pay more or less depending on your area of study, average graduate tuition and fees at Eastern Illinois University are $20,761.

Read more about Economics at EIU

#6

Northern Illinois University

Dekalb, Illinois
#10 in overall quality
$11,086 Avg Grad Tuition & Fees

Northern Illinois University did quite well in the 2022 Best Value Economics Schools for a Master’s in Illinois For Those Making $30-$48k ranking, coming in at #6. This fairly large school is located in Dekalb, Illinois, and it awarded 4 masters’s economics degrees in 2019-2020.

NIU not only placed well in this ranking. It is also #10 on our “Best Economics Master’s Degree Schools in Illinois” list. Although you might pay more or less depending on your area of study, average graduate tuition and fees at Northern Illinois University are $11,086.

Read full report on Economics at Northern Illinois University

#7

Southern Illinois University Carbondale

Carbondale, Illinois
#7 in overall quality
$32,928 Avg Grad Tuition & Fees

With a ranking of #7, Southern Illinois University Carbondale did quite well on the 2022 Best Value Economics Schools for a Master’s in Illinois For Those Making $30-$48k list. Southern Illinois University Carbondale is a public institution located in Carbondale, Illinois. The school has a fairly large population, and it awarded 4 masters’s degrees in 2019-2020.

SIUC also made our “Best Economics Master’s Degree Schools in Illinois” list, coming in at #7. Average graduate tuition and fees at SIUC are $32,928, but some majors have different tuition rates.

Full SIUC Economics Report

#8

Illinois State University

Normal, Illinois
#6 in overall quality
$11,069 Avg Grad Tuition & Fees

Illinois State University came in at #8 in this year’s edition of the Best Value Economics Schools for a Master’s in Illinois For Those Making $30-$48k ranking. Normal, Illinois is the setting for this large institution of higher learning. The public school handed out masters’s economics degrees to 14 students in 2019-2020.

Illinois State did well in our major quality rankings, too. It placed #6 on our “Best Economics Master’s Degree Schools in Illinois” list. Average graduate tuition and fees at Illinois State University are $11,069, but some majors have different tuition rates.

Read more about Economics at Illinois State

#9

Western Illinois University

Macomb, Illinois
#9 in overall quality
$11,996 Avg Grad Tuition & Fees

Western Illinois University ranked #9 on this year’s Best Value Economics Schools for a Master’s in Illinois For Those Making $30-$48k list. This medium-sized school is located in Macomb, Illinois, and it awarded 10 masters’s economics degrees in 2019-2020.

As a testament to the quality of education offered at WIU, the school also landed the #9 spot in our “Best Economics Master’s Degree Schools in Illinois” ranking. Although you might pay more or less depending on your area of study, average graduate tuition and fees at WIU are $11,996.

Full Western Illinois University Economics Report

#10

Roosevelt University

Chicago, Illinois
$21,605 Avg Grad Tuition & Fees

Roosevelt University did quite well in the 2022 Best Value Economics Schools for a Master’s in Illinois For Those Making $30-$48k ranking, coming in at #10. This small school is located in Chicago, Illinois, and it awarded 1 masters’s economics degrees in 2019-2020.

In addition to being on our illinois master’s degree economics students whose families make $30-$48k list, Roosevelt has also earned the #0 rank in our “Best Economics Master’s Degree Schools in Illinois” ranking. Average graduate tuition and fees at Roosevelt are $21,605, but you may pay more or less depending on your major.

Read full report on Economics at Roosevelt University

#11

DePaul University

Chicago, Illinois
#5 in overall quality
$19,760 Avg Grad Tuition & Fees
$64,990 Average Early-Career Earnings

DePaul University did quite well in the 2022 Best Value Economics Schools for a Master’s in Illinois For Those Making $30-$48k ranking, coming in at #11. Located in Chicago, Illinois, this large private not-for-profit school awarded 29 degrees to qualified masters’s economics students in 2019-2020.

DePaul not only placed well in this ranking. It is also #5 on our “Best Economics Master’s Degree Schools in Illinois” list. Average graduate tuition and fees at DePaul University are $19,760, but you may pay more or less depending on your major.

Read full report on Economics at DePaul University

Notes and References

References

  • The Integrated Postsecondary Education Data System (IPEDS) from the National Center for Education Statistics (NCES), a branch of the U.S. Department of Education (DOE) serves as the core of our data about colleges.
  • Some other college data, including much of the graduate earnings data, comes from the U.S. Department of Education’s (College Scorecard).
  • Information about the national average student loan default rate is from the U.S. Department of Education and refers to data about the 2016 borrower cohort tracking period for which the cohort default rate (CDR) was 10.1%.

Read more about our data sources and methodologies

Footnotes

  • *Average salary, average net price, and average tuition and fees are for the top schools only.
  • Some schools otherwise deserving of recognition may have been removed from this ranking in the event that new data identified post-publication warranted it, or at the request of the school.

Credits

  • Credit for the banner image above goes to pixabay.

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