M.S Economics at Massachusetts Institute Of Technology [MIT], Cambridge Fees, Entry Requirement & Application Deadline

Master of Science [M.S] [Economics] From Massachusetts Institute of Technology

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

Master of Science [M.S] (Economics)

2 years
Full Time
On Campus

Field of Study

$77,485/Yr

$77,485 /Yr
  • The graduate program in Economics at MIT has grown to its present size of 123 full-time students and 42 faculty members. Its major emphasis is the training of doctoral candidates in a broad program of advanced study and research for professional careers in universities, government, or colleges, public and private research and consulting organizations, and financial institutions, and other private businesses.
  • MIT operates on the semester system.
  • The fall term, including examinations, ends before winter vacation.  
  • It allows students to pursue their own research interests. The spring term runs from February through May.
  • This university is ranked #1 in QS Global World University Rankings, 2022.
  • It is an on-campus program offered on a full-time basis only.

Tuition Fees

Year1st Year Fees
Tuition Fees$77485 (USD 77485)

Other Expenses

HeadAvg Cost Per Year
Housing$22800 (USD 22800)
Transportation$3276 (USD 3276)
Food$9036 (USD 9036)
Personal$9024 (USD 9024)
Health Insurance$3089 (USD 3089)
Books and supply$1344 (USD 1344)
Other Fees$396 (USD 396)
Total Cost$48965 (USD 48965)

Previous Year Fees

Year1st Year Fees
2022$77485 (USD 77485)

Eligibility & Entry Requirement

Academic Eligibility:

  • The students must have a bachelor’s degree (3 or 4 years) in any of the respective fields to apply for this program.
  • The average GPA of the students in this program is 3.9 on a scale of 5.0.
  • Students can apply with any bachelor’s degree, but most of the students come from these fields like Computer Science, Economics, Engineering (variety), Finance, Management, Math, Operations Research, Statistic, etc.

Work Experience:

  • Work experience is not required but many of the students have an average experience of 15 months.

Language Requirments:

  • The students whose official language is not English are required to write IELTS or TOEFL exams before applying.
  • The TOEFL cut-off for this program is 90 out of 120.
  • The IELTS cut-off will be decided by the university department.

Language Requirement Exemption:

  • Students who have received instruction in English in their primary and secondary schools and students who have been in the United States for four years or longer and have received a degree from an American institution.

Exam Requirments:

  • MIT recommends that applicants interview with a member of the MIT Educational Council if available. Council members are MIT graduates who have volunteered to interview on behalf of the Office of Admissions. 


Scores Required

100 / 120

Avg. Score in

TOEFL

7.0 / 9

Avg. Score in

IELTS


Required Document List

  • Resume/CV: It is the outline of academic achievements and/or awards, publications, relevant work, and/or volunteer experience.
  • Three Letter of Recommendation: Letter of recommendation (combination of professional and academic recommenders) which includes information about the student, their connection with the person they are recommending, their qualification, and the specific skills they have.
  • Statement of PurposeThis statement must describe your qualifications and the objectives of your intended educational program.
  • Personal Statement: Reasons or intentions for pursuing studies in this program, including a description of prior experience.
  • Official Transcripts: Applicants who have attended and/or received degrees from institutions outside the US must provide certified copies and certified English translations of transcripts or records of all previous post-secondary education and of all degrees conferred.
  • ELP Scores: Students have to submit their English language proficiency scores like IELTS, TOEFL, or other test score

Scholarship Grants & Financial Aids

NameScholarship Per StudentLevel of StudyType
Young Women in Public Affairs AwardScholarship per student$ 4,000/Yr$4,000Level Of StudyBachelorTypeMerit-Based
BeArt Presets-Academic ScholarshipScholarship per student$ 2,000/Yr$2,000Level Of StudyBachelorTypeMerit-Based
Young Professionals ProgramScholarship per studentVariable AmountLevel Of StudyDoctorateTypeMerit-Based
Prodigy Finance-GyanDhan ScholarshipScholarship per student$ 2,500/Yr$2,500Level Of StudyMasterTypeMerit-Based
VueVille Future Technology ScholarshipScholarship per student$ 1,000/Yr$1,000Level Of StudyBachelorTypeMerit-Based
Aga khan Foundation ScholarshipsScholarship per studentVariable AmountLevel Of StudyMasterTypeMerit-Based


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