2027 Best Value Economics Schools in the Great Lakes Region
[Economics](/majors/social-sciences/economics/) programs reward a close look at where your money goes furthest. A high-value program keeps cost low while graduates go on to earn well.
For its 2027 best-value ranking, College Factual looked at 55 schools to find the best return on investment for economics students.
What’s on this page:
2027 Best Value Economics Schools in the Great Lakes Region
If you want to know which schools deliver the best value for the economics degrees they offer, see the list below.
Best Value Economics Schools
Leading the list is University Of Michigan Ann Arbor, our #1 best value for economics in the Great Lakes Region. Set in the city of Ann Arbor, University Of Michigan Ann Arbor is a very large public institution. Expect in-state tuition and fees of around $18,848, while out-of-state students pay about $63,081. Economics graduates carry a median of $19,690 in student loans. Early-career economics graduates make about $68,416. Set against $19,690 in median debt, that is a healthy payoff. The acceptance rate is 16%.
University Of Illinois At Chicago is a great value for students pursuing a degree in economics, landing the #2 spot this year. Located in the city of Chicago, University Of Illinois At Chicago is a very large public university. The average in-state cost of tuition and fees is $15,949, compared with $32,009 for out-of-state students. Typical student debt for economics graduates is $19,002. Economics graduates of University Of Illinois At Chicago earn a median of $37,767 early in their careers. That is a strong return on a $19,002 median debt. University Of Illinois At Chicago admits about 77% of applicants.
University Of Chicago came in at #3 on our 2027 list of the best value economics schools. Located in the city of Chicago, University Of Chicago is a very large private not-for-profit university. The average in-state cost of tuition and fees is $69,324. Typical student debt for economics graduates is $13,197. Soon after graduation, economics degree recipients from University Of Chicago generally make around $92,075. Weighed against typical debt, the earnings make a compelling case for value. Roughly 4% of applicants are accepted.
Students looking for strong value in economics will find it at Indiana University Purdue University Indianapolis, which ranked #4. Set in the city of Indianapolis, Indiana University Purdue University Indianapolis is a very large public institution. Students from in state pay about $10,762 in tuition and fees, with out-of-state students paying around $34,891. Typical student debt for economics graduates is $18,711. Early-career economics graduates make about $45,443. That is a strong return on a $18,711 median debt. Roughly 76% of applicants are accepted.
University Of Illinois At Urbana Champaign is a great value for students pursuing a degree in economics, landing the #5 spot this year. Set in the city of Champaign, University Of Illinois At Urbana Champaign is a very large public institution. Students from in state pay about $18,267 in tuition and fees, with out-of-state students paying around $40,096. Economics graduates carry a median of $21,228 in student loans. Economics graduates of University Of Illinois At Urbana Champaign earn a median of $58,921 early in their careers. Set against $21,228 in median debt, that is a healthy payoff. University Of Illinois At Urbana Champaign admits about 42% of applicants.
Wayne State University ranked #6 on our 2027 list of the best value economics schools. Located in the city of Detroit, Wayne State University is a very large public university. The average in-state cost of tuition and fees is $16,159, while out-of-state students pay about $34,650. Students borrow a median of $24,681 to complete the economics program here. Economics graduates of Wayne State University earn a median of $50,648 early in their careers. Weighed against typical debt, the earnings make a compelling case for value. Wayne State University admits about 81% of applicants.
University Of Southern Indiana earned the #7 position for value in economics this year. Located in the suburb of Evansville, University Of Southern Indiana is a large public university. In-state tuition and fees average $10,066, compared with $22,907 for out-of-state students. Economics graduates carry a median of $21,999 in student loans. Early-career economics graduates make about $47,216. That is a strong return on a $21,999 median debt. University Of Southern Indiana admits about 96% of applicants.
Purdue University Main Campus landed the #8 spot for economics value this year. Purdue University Main Campus is a very large public school located in the city of West Lafayette. Expect in-state tuition and fees of around $9,992, with out-of-state students paying around $28,794. Economics graduates carry a median of $24,700 in student loans. Economics graduates of Purdue University Main Campus earn a median of $59,187 early in their careers. That is a strong return on a $24,700 median debt. The acceptance rate is 50%.
Northern Illinois University landed the #9 spot for economics value this year. Set in the suburb of Dekalb, Northern Illinois University is a large public institution. Students from in state pay about $13,060 in tuition and fees. Economics graduates carry a median of $25,879 in student loans. Early-career economics graduates make about $45,386. Weighed against typical debt, the earnings make a compelling case for value. Roughly 70% of applicants are accepted.
University Of Wisconsin Whitewater landed the #10 spot for economics value this year. University Of Wisconsin Whitewater is a large public school located in the town of Whitewater. Expect in-state tuition and fees of around $8,616, with out-of-state students paying around $18,716. Students borrow a median of $21,698 to complete the economics program here. Economics graduates of University Of Wisconsin Whitewater earn a median of $46,404 early in their careers. Set against $21,698 in median debt, that is a healthy payoff. The acceptance rate is 86%.
University Of Wisconsin Oshkosh landed the #11 spot for economics value this year. University Of Wisconsin Oshkosh is a large public school located in the city of Oshkosh. The average in-state cost of tuition and fees is $8,532, compared with $16,446 for out-of-state students. Students borrow a median of $25,000 to complete the economics program here. Early-career economics graduates make about $57,663. That is a strong return on a $25,000 median debt. Roughly 86% of applicants are accepted.
University Of Detroit Mercy came in at #12 for value in economics this year. Located in the city of Detroit, University Of Detroit Mercy is a moderately-sized private not-for-profit university. In-state tuition and fees average $32,946. Students borrow a median of $29,053 to complete the economics program here. Soon after graduation, economics degree recipients from University Of Detroit Mercy generally make around $76,755. Set against $29,053 in median debt, that is a healthy payoff. University Of Detroit Mercy admits about 75% of applicants.
Ball State University ranked #13 on our 2027 list of the best value economics schools. Ball State University is a very large public school located in the city of Muncie. The average in-state cost of tuition and fees is $11,082, while out-of-state students pay about $29,630. Economics graduates carry a median of $22,054 in student loans. Soon after graduation, economics degree recipients from Ball State University generally make around $56,782. Weighed against typical debt, the earnings make a compelling case for value. The acceptance rate is 86%.
Southern Illinois University Carbondale came in at #14 for value in economics this year. Southern Illinois University Carbondale is a large public school located in the town of Carbondale. Students from in state pay about $13,334 in tuition and fees. Typical student debt for economics graduates is $25,049. Soon after graduation, economics degree recipients from Southern Illinois University Carbondale generally make around $37,798. Weighed against typical debt, the earnings make a compelling case for value. Roughly 87% of applicants are accepted.
Indiana University Bloomington landed the #15 spot for economics value this year. Set in the city of Bloomington, Indiana University Bloomington is a very large public institution. Students from in state pay about $12,144 in tuition and fees, compared with $41,891 for out-of-state students. Typical student debt for economics graduates is $20,500. Economics graduates of Indiana University Bloomington earn a median of $59,142 early in their careers. Set against $20,500 in median debt, that is a healthy payoff. Roughly 78% of applicants are accepted.
University Of Wisconsin Stevens Point ranked #16 on our 2027 list of the best value economics schools. Set in the town of Stevens Point, University Of Wisconsin Stevens Point is a moderately-sized public institution. Students from in state pay about $9,228 in tuition and fees, while out-of-state students pay about $18,248. Economics graduates carry a median of $24,161 in student loans. Soon after graduation, economics degree recipients from University Of Wisconsin Stevens Point generally make around $41,256. Set against $24,161 in median debt, that is a healthy payoff. Roughly 92% of applicants are accepted.
Western Michigan University came in at #17 for value in economics this year. Set in the city of Kalamazoo, Western Michigan University is a large public institution. The average in-state cost of tuition and fees is $15,987, while out-of-state students pay about $19,952. Economics graduates carry a median of $27,981 in student loans. Early-career economics graduates make about $48,966. That is a strong return on a $27,981 median debt. Western Michigan University admits about 85% of applicants.
University Of Akron Main Campus landed the #18 spot for economics value this year. University Of Akron Main Campus is a large public school located in the city of Akron. In-state tuition and fees average $13,135, compared with $20,815 for out-of-state students. Economics graduates carry a median of $25,347 in student loans. Early-career economics graduates make about $49,045. Set against $25,347 in median debt, that is a healthy payoff. Roughly 60% of applicants are accepted.
University Of Wisconsin Madison placed #19 among the best values for economics. University Of Wisconsin Madison is a very large public school located in the city of Madison. In-state tuition and fees average $11,603, with out-of-state students paying around $42,103. Students borrow a median of $20,750 to complete the economics program here. Economics graduates of University Of Wisconsin Madison earn a median of $64,223 early in their careers. Set against $20,750 in median debt, that is a healthy payoff. The acceptance rate is 45%.
Albion College ranked #20 on our 2027 list of the best value economics schools. Albion College is a small private not-for-profit school located in the town of Albion. The average in-state cost of tuition and fees is $56,950. Typical student debt for economics graduates is $27,000. Early-career economics graduates make about $48,756. Weighed against typical debt, the earnings make a compelling case for value. Roughly 81% of applicants are accepted.
University Of Wisconsin La Crosse earned the #21 position for value in economics this year. University Of Wisconsin La Crosse is a large public school located in the city of La Crosse. Expect in-state tuition and fees of around $10,070, compared with $19,517 for out-of-state students. Students borrow a median of $25,000 to complete the economics program here. Economics graduates of University Of Wisconsin La Crosse earn a median of $53,595 early in their careers. Weighed against typical debt, the earnings make a compelling case for value. The acceptance rate is 76%.
Northeastern Illinois University placed #22 among the best values for economics. Northeastern Illinois University is a moderately-sized public school located in the city of Chicago. Students from in state pay about $12,383 in tuition and fees, while out-of-state students pay about $22,726. Economics graduates carry a median of $17,600 in student loans. Economics graduates of Northeastern Illinois University earn a median of $40,004 early in their careers. That is a strong return on a $17,600 median debt. Northeastern Illinois University admits about 75% of applicants.
University Of Wisconsin Milwaukee came in at #23 for value in economics this year. Located in the city of Milwaukee, University Of Wisconsin Milwaukee is a very large public university. Expect in-state tuition and fees of around $10,398, while out-of-state students pay about $22,398. Typical student debt for economics graduates is $27,000. Soon after graduation, economics degree recipients from University Of Wisconsin Milwaukee generally make around $44,327. That is a strong return on a $27,000 median debt. The acceptance rate is 91%.
Northern Michigan University earned the #24 position for value in economics this year. Located in the town of Marquette, Northern Michigan University is a moderately-sized public university. Students from in state pay about $14,322 in tuition and fees, while out-of-state students pay about $19,944. Students borrow a median of $22,608 to complete the economics program here. Early-career economics graduates make about $40,508. Set against $22,608 in median debt, that is a healthy payoff. The acceptance rate is 84%.
Ohio State University Main Campus ranked #25 on our 2027 list of the best value economics schools. Set in the city of Columbus, Ohio State University Main Campus is a very large public institution. In-state tuition and fees average $13,244, compared with $40,022 for out-of-state students. Economics graduates carry a median of $23,125 in student loans. Economics graduates of Ohio State University Main Campus earn a median of $60,658 early in their careers. Set against $23,125 in median debt, that is a healthy payoff. Ohio State University Main Campus admits about 61% of applicants.
Rest of the Top 50 Best Value Economics Schools
Not far behind, these schools also offered excellent value in economics:
Narrow Economics Schools by State
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Notes and References
This list is compiled by College Factual (MF_RANKING_2025), 2027 edition. The methodology weighs the cost of a degree against the earnings graduates go on to achieve, drawn primarily from the U.S. Department of Education (IPEDS and College Scorecard).
Ranking method: College Major Best Value · 55 schools evaluated.
*Averages shown above reflect the top 55 ranked schools only.
- 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).
More about our data sources and methodologies.
