Top 15 Most Affordable Online Economics PhD Programs (Doctorates) 2023

CHEAPEST ONLINE DOCTORATE IN ECONOMICS
By James Barham
Published:
Updated:

Are you interested in a doctorate degree, but are concerned about the high cost of college? We rank the most affordable online economics PhD degree programs.

Key Takeaways

  • The most affordable online doctoral programs in economics range between $300 and $1,500.

  • The average tuition fee per year for an online economics PhD is $19,749.

  • Out-of-state students pay more than in-state students unless the school provides a flat tuition fee.

It takes bravery to seek an online doctorate, but it can ultimately be beneficial. It can, however, be expensive to obtain. The U.S. News & World Report claims that the college expenses increase substantially each year.

A PhD student needs strong budgeting skills after factoring in the price of books, living expenditures, transportation costs, the cost of the dissertation, and research time. To cut down on debt after graduation, these expenses in online doctorate programs in economics should be taken seriously.

Woman working on a laptop in an office

Featured Programs

Making an Online PhD in Economics as Affordable as Possible

There are a number of ways to ensure that online doctorate programs in economics are as affordable as possible.

In-state Tuition

The cost of online doctoral programs in economics vary based on several factors. Most colleges and universities charge more for out-of-state students. However, there are some schools that offer flat-rate tuition, which means that in-state and out-of-state students pay the same per credit cost.

Other Expenses

Earning an online doctorate in economics degree as opposed to a traditional on-campus doctorate degree makes it possible to save money on expenses like housing, transportation, and certain campus fees.

Continue Working

Online doctoral programs often make it possible to continue working in your field, which means you can complete your degree program while still earning a living. This can ultimately reduce your dependence on student loan debt.

Earning a PhD in economics through online doctoral programs is a great option for busy professionals who want to continue their education while juggling work and family life.

Financial Aid, Scholarships, Grants, and Loans

If affordability is a particular concern, and it is making you reluctant to pursue an online PhD in economics, you may be able to take advantage of financial aid, including grants, scholarships, and loans.

For more information, visit the Federal Student Aid website. It is especially important that you choose online doctoral programs that are accredited in order to qualify.

Assistantships

Many schools offering an online PhD doctoral degree in economics also have assistantship opportunities for their graduate students. Assistantships may give teaching opportunities in exchange for tuition waivers and a stipend. Each school is different, so check into the online economics doctorate degree program you are interested in.

Bottom Line: An affordable online PhD in economics doctoral degree is possible when you factor in things like in-state tuition, financial aid, grants, and assistantships.

Scarcity of Online Economics Doctorates

There are cost savings with some online PhD programs in economics. However, some students may choose to attend traditional degree programs due to the scarcity of online doctorate programs in economics.

To help you research doctorate programs in economics that fit your needs, we rounded up the most affordable on-campus and online PhD programs to choose from.

If an affordable, in-demand PhD is exactly what you are looking for, check out our other Affordable Degree Rankings.

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On-campus Doctorate Degree Programs vs Online PhD Programs

On-campus and online programs have their own merits. Online doctorate degree programs generally costs less than traditional brick-and-mortar programs. Prospective students online won’t have to pay additional expenses for transportation, housing for students, labs, or study materials.

Additionally, online doctorate degree programs are typically more flexible because they allow online doctorate students to complete the program at their own pace. On-campus students must physically be present for their classes at certain times and locations on the university campus.

The advantages, however, of attending an on-campus doctorate degree program are physical engagement and funding available. On-campus economic PhD programs allow students to engage physically with peers and professors, aiding learning and motivation. On the other hand, online students must use virtual platforms to get in touch with professors at predetermined times.

Furthermore, it may be more difficult for online students to secure fellowships, teaching assistantships, and research assistantships than it is for on-campus doctorate degree students.

So, an on-campus program may be more cost-effective than online doctorate programs.

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Cost of an Online PhD in Economics Doctoral Degree

A PhD in economics costs $19,749 on average each year, according to the National Center for Education Statistics. This is the typical graduate tuition charged between 2020 and 2021 at public and private institutions.

The cost of education varies by school, and because private colleges rely more heavily on tuition fees for revenue, their prices are frequently higher than those of public universities.

But the financing that private institutions receive from private benefactors is the main perk of attending one. Private institutions frequently have larger budgets for research and expansion than public universities.

The cost of an online PhD in economics doctoral degree is also significantly influenced by in-state and out-of-state residency. Residents of a state pay in-state tuition to attend state-run institutions. The out-of-state tuition rate is what a student from another state must pay to attend the same school.

Luckily some doctorate degree programs have flat-rate tuition, which means that an out-of-state-student will pay the same tuition as an in-state student.

Many online doctorate programs allow out-of-state students to pay in-state tuition. Traditional brick-and-mortar schools are less likely to offer flat-rate tuition.

Economics doctoral programs can cost anywhere from $300 and $2,500 per credit. But there are many affordable online doctorate programs that cost between $300 and $1,500 per credit.

Woman with glasses thinking about economics

Economists Salaries by Percentile in the U.S.

The following graph depicts the average salaries of Economists for each percentile in the U.S.

Source: U.S. BUREAU OF LABOR STATISTICS

SVG Attribution: Wikipedia

Total Employed: 15640
10%
15%
50%
15%
10%
bell-curve
6246079760105630151110193690
10th Percentile25th Percentile75th Percentile90th Percentile
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15 Most Affordable Online Economics Doctorates

  1. #1

    Liberty University

    Lynchburg , VA
    #4 Top 20 Best Military Friendly Online Colleges Ranked for 2023 #8 Top 15 Best Online Colleges for Transfer Students in 2023 #13 Best Online Christian Colleges and Universities for Doctoral Degrees #2 Best Christian Colleges in Virginia 2023
    Other Rankings

    Tuition + fees

    $23K

    Acceptance

    99%

    Graduation

    62%

    Student body

    79K

    Median SAT/ACT

    1145/25

    What is Liberty University known for?

    Liberty University’s faculty and alumni have been influential in:

    Most Influential Alumni

    Liberty University is a pioneer in online education and offers hundreds of affordable online degree programs from bachelor to graduate levels with Christian-based education. It’s one of the top online schools in the United States.

    Liberty’s PhD in Public Policy - Economics costs $595 per credit hour. On the other hand, military students pay $300 per credit hour. This Economics PhD online program trains students to influence economic policy in law, media, politics, education, and international relations at a very low cost and conduct original research.

    • Required Credits: 60
    • Completion time: 3 years
    • Format: Online

    What we love about Liberty University

    The Christian-based curriculum.

    Liberty University is great for students who:

    Want to develop a stronger bond with Christ while developing research skills and enricing knowledge for career advancement.

    Liberty University might not be the best fit for students who:

    Have poor time management skills and are unable to study independently.

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  2. #2

    University of North Carolina at Greensboro

    Greensboro , NC
    #7 Top 15 Best Online Colleges for Transfer Students in 2023 #5 Most Affordable Colleges in North Carolina 2023 #5 Best Public Colleges in North Carolina 2023 #7 Best Grad Schools in North Carolina 2023
    Other Rankings

    Tuition + fees

    $7K

    Acceptance

    91%

    Graduation

    58%

    Student body

    17K

    Median SAT/ACT

    1070/22

    What is University of North Carolina at Greensboro known for?

    University of North Carolina at Greensboro’s faculty and alumni have been influential in:

    Most Influential Alumni

    The University of North Carolina Greensboro is one of the country’s leaders in online education. UNC rigorously educates and trains students to become leaders, creators, and explorers in North Carolina and around the globe.

    UNC Greensboro offers one of the most affordable online doctorate degrees. The PhD in Business Administration costs only $336 per credit hour for in-state students and $1,098 for out-of-state students. This online doctor of business administration program allows students to enroll in doctorate-level courses in Econometric Analysis. Students will also focus on online doctorate courses directly related to economics, such as emerging economics and organizational economics.

    • Required Credits: 54
    • Completion time: 5 years
    • Format: Online

    What we love about the University of North Carolina Greensboro

    UNC Greensboro is really good at helping students know what they want to do and helping them achieve it.

    The University of North Carolina Greensboro is great for students who:

    Want to have a liberal arts foundation.

    The University of North Carolina Greensboro might not be the best fit for students who:

    Only attend college to party and are not dedicated to their studies.

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  3. #3

    Atlantic International University

    What is Atlantic International University known for?

    Atlantic International University’s faculty and alumni have been influential in:

    Atlantic International University is an online learning institution based in the United States. The university provides a variety of majors at the associates, bachelor, master, and doctorate levels.

    AIU’s PhD in Economics is one of the rarest and most affordable online doctorate programs. Prospective students of this economics online degree can study and do research in a number of important computer science fields, building a solid foundation in both theory and practice.

    • Required Credits: 48
    • Completion time: 3 years
    • Format: Online

    What we love about Atlantic International University

    The affordable and accessible degree programs.

    Atlantic International University is great for students who:

    Want to transfer life experience to reduce required credit hours.

    Atlantic International University might not be the best fit for students who:

    Want to enroll in a US-accredited university.

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  4. #4

    University of Arizona

    Tucson , AZ
    #4 15 Best Online Colleges for Veterans to Start Their Careers #13 50 Best Public Grad Schools 2023 #19 Most Affordable Colleges and Universities in the U.S. 2023 #1 Best Colleges in Arizona 2023
    Other Rankings

    Tuition + fees

    $12K

    Acceptance

    87%

    Graduation

    64%

    Student body

    40K

    Median SAT/ACT

    1220/25

    What is University of Arizona known for?

    University of Arizona’s faculty and alumni have been influential in:

    Most Influential Alumni

    The University of Arizona is among the largest land-grant institutions in the country. UofA offers affordable learning to help non-traditional students achieve their professional and academic goals without breaking the bank. The university also among the nation’s most diverse institutions.

    UofA’s traditional PhD in Economics program has in-state and out-of-state per semester tuition fees of $14,000 and $34,000. This economics PhD program is among the most flexible degree programs, allowing students to tailor their learning based on their career goals. Specialization courses include experimental economics, health economics, and industrial organization.

    • Required Credits: 84
    • Completion time: 5 years
    • Format: On-campus

    What we love about The University of Arizona

    The wide range of programs and school activities that fosters collaboration and success.

    The University of Arizona is great for students who:

    Thrive in large class sizes and independent study.

    The University of Arizona might not be the best fit for students who:

    Want to study in a more centralized learning environment.

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  5. #5

    University at Buffalo

    Buffalo , NY
    #3 Best Public Colleges in New York 2023 #3 Most Affordable Colleges in New York 2023 #10 Best Colleges in New York 2023 #10 Best Research Universities in New York 2023
    Other Rankings

    Tuition + fees

    $11K

    Acceptance

    70%

    Graduation

    74%

    Student body

    28K

    Median SAT/ACT

    1225/26

    What is University at Buffalo known for?

    University at Buffalo’s faculty and alumni have been influential in:

    Most Influential Alumni

    The University at Buffalo is a multi-campus institution, with each campus focusing on research and development. Through its 13 schools and colleges, UB offers over 300 degree programs. On top of a high caliber of education, UB also offers affordable tuition rates.

    UB’s north campus offers an affordable traditional PhD in Economics degree program, with a per credit hour cost of $471.00. At a very low cost, students will have the opportunity to fully develop their skills in using quantitative methods and the three main branches of economics to enrich lives globally.

    • Required Credits: 72
    • Completion time: 4-8 years
    • Format: On-campus

    What we love about the University at Buffalo

    The vibrant campus life, which includes endless opportunities to network and have fun.

    The University at Buffalo is great for students who:

    Can complete coursework without individualized attention from advisors.

    The University at Buffalo might not be the best fit for students who:

    Prefer to learn in small class sizes.

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  6. Two business professionals discussing economics
  8. #7

    American University

    Washington , DC
    #7 50 Best Christian Colleges and Universities 2023 #2 Best Christian Colleges in DC 2023 #3 Best Grad Schools in DC 2023 #3 The Most Influential Universities and Colleges Ranked by State 2023
    Other Rankings

    Tuition + fees

    $53K

    Acceptance

    64%

    Graduation

    79%

    Student body

    11K

    Median SAT/ACT

    1305/29

    What is American University known for?

    American University’s faculty and alumni have been influential in:

    Most Influential Alumni

    American University is one of the top choices for international students due to its diversity and welcoming atmosphere. AU encourages its students to act toward their passions to become leaders in their fields.

    AU offers a PhD in Economics with affordable costs. This doctorate degree helps students develop proficiency in statistical techniques, practical field knowledge, and economic theory. Additionally, it helps students develop the necessary expertise to write dissertations that empirically address economic concerns.

    • Required Credits: 45
    • Completion time: 2.5
    • Format: On-campus

    What we love about American University

    The diversity and dedicated faculty.

    American University is great for students who:

    Are interested in politics and international relations.

    American University might not be the best fit for students who:

    Are not politically-inclined.

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  9. #8

    University of Minnesota

    Minneapolis , MN
    #6 Most Affordable Colleges and Universities in the U.S. 2023 #8 50 Best Public Grad Schools 2023 #12 50 Best Public Colleges and Universities Ranked for Students in 2023 #23 Best Universities in the US Ranked for Prospective Students in 2023
    Other Rankings

    Tuition + fees

    $15K

    Acceptance

    73%

    Graduation

    84%

    Student body

    42K

    Median SAT/ACT

    1350/28

    What is University of Minnesota known for?

    University of Minnesota’s faculty and alumni have been influential in:

    Most Influential Alumni

    The Twin Cities campus is UM’s flagship and the only land-grant institution in the state. UM is also one of the country’s most esteemed public research universities. 

    UM’s PhD in Economics is an affordable doctoral program that costs in-state and out-of-state per credit hour costs of $1,539.00 and $2,381.50. While these costs may seem pricey upfront, all doctoral students will be entitled to stipends. Students will write a thesis that adds significantly to the field of economic literature.

    • Required Credits: 66
    • Completion time: 45 months
    • Format: On-campus

    What we love about the University of Minnesota

    The ground-breaking and life-altering inventions, including the “black box” flight recorder, the first successful open-heart surgery, GORE-TEX®, and the cardiac pacemaker.

    The University of Minnesota is great for students who:

    Are used to living in huge cities and thrive in a sizable student population.

    The University of Minnesota might not be the best fit for students who:

    Are easily intimidated.

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  11. #9

    University of Iowa

    Iowa City , IA
    #5 15 Best Online Colleges for Veterans to Start Their Careers #14 50 Best Public Grad Schools 2023 #1 The Most Influential Universities and Colleges Ranked by State 2023 #1 Best Public Colleges in Iowa 2023
    Other Rankings

    Tuition + fees

    $10K

    Acceptance

    86%

    Graduation

    74%

    Student body

    26K

    Median SAT/ACT

    1210/25

    What is University of Iowa known for?

    University of Iowa’s faculty and alumni have been influential in:

    Most Influential Alumni

    The University of Iowa is a major research institution with 11 colleges. UI is the country’s most cutting-edge and comprehensive university-owned teaching hospital and created the world’s most technologically sophisticated driving simulator.

    UI’s PhD in Economics has in-state and out-of-state base tuition and fees of $12,013 and $31,511. Students interested in this degree program should note that this is one of the most selective doctorates. This program places a strong emphasis on high-quality training.

    • Required Credits: 72
    • Completion time: 5-6 years
    • Format: On-campus

    What we love about the University of Iowa

    The inclusivity. It was the first public university to enroll students of all races and to admit women and men on an equal basis.

    The University of Iowa is best for students who:

    Want to study in a large campus and live in a small town.

    The University of Iowa might not be the best fit for students who:

    Are very conservative and close-minded.

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  12. #10

    University of Oregon

    Eugene , OR
    #1 Best Research Universities in Oregon 2023 #1 Best Public Colleges in Oregon 2023 #1 Best Grad Schools in Oregon 2023 #1 Most Affordable Colleges in Oregon 2023
    Other Rankings

    Tuition + fees

    $14K

    Acceptance

    93%

    Graduation

    74%

    Student body

    21K

    Median SAT/ACT

    1190/25

    What is University of Oregon known for?

    University of Oregon’s faculty and alumni have been influential in:

    Most Influential Alumni

    The University of Oregon is a leader in innovation and change and has always kept an eye on the future. UO is one of the very few research universities in the country that is a member of the Association of American Universities.

    UO’s PhD in Economics has a per credit hour cost of $582. The program maintains a low student-to-faculty ratio designed to foster the development of excellent research and teaching skills. Students study several economic doctoral fields, including but not limited to Industrial Organization, Economic Growth and Development, Labor Economics, and Public Economics.

    • Required Credits: 81
    • Completion time: 5-7 years
    • Format: On-campus

    What we love about the University of Oregon

    The small and intimate class sizes with dedicated faculty.

    The University of Oregon is great for students who:

    Are devoted to their studies, highly open-minded, and driven to succeed.

    The University of Oregon might not be the best fit for students who:

    Are used to city life.

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  13. #11

    University of Cincinnati

    Cincinnati , OH
    #11 15 Best Online Colleges for Veterans to Start Their Careers #2 Best Public Colleges in Ohio 2023 #2 Most Affordable Colleges in Ohio 2023 #3 Best Research Universities in Ohio 2023
    Other Rankings

    Tuition + fees

    $12K

    Acceptance

    85%

    Graduation

    73%

    Student body

    34K

    Median SAT/ACT

    1225/26

    What is University of Cincinnati known for?

    University of Cincinnati’s faculty and alumni have been influential in:

    Most Influential Alumni

    The University of Cincinnati is an award-winning and dynamic campus offering comprehensive and cutting-edge education. UC has hundreds of academic programs, many of which are nationally ranked and provide possibilities for practical learning.

    UC’s PhD in Economics has a per credit hour cost of $746. The best thing about this program is that it requires students to work as part-time research assistants during their first two years of study. Additionally, this PhD expects students to do their own research early on in the program.

    • Required Credits: 40
    • Completion time: 3 years
    • Format: On-campus

    What we love about the University of Cincinnati

    The reputation of being the #1 university for co-ops.

    The University of Cincinnati is great for students who:

    Are willing to take risks and devote their time to studying.

    The University of Cincinnati might not be the best fit for students who:

    Don’t like living in a big city,

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    14. Young economics professional working in an office
  15. #12

    University of South Florida

    Tampa , FL
    #21 Most Affordable Graduate Schools Ranked for 2023 #4 The Most Influential Universities and Colleges Ranked by State 2023 #4 Most Affordable Colleges in Florida 2023 #4 Best Public Colleges in Florida 2023
    Other Rankings

    Tuition + fees

    $6K

    Acceptance

    49%

    Graduation

    75%

    Student body

    44K

    Median SAT/ACT

    1240/27

    What is University of South Florida known for?

    University of South Florida’s faculty and alumni have been influential in:

    Most Influential Alumni

    The University of South Florida is a preeminent research university committed to helping students succeed academically, personally, and professionally. USF is a top producer for Fulbright Scholars and a top patent producer.

    USF offers an affordable traditional PhD in Economics, which only costs $467.34 in-state and $913.08 out-of-state per credit hour. This PhD program is best for students who want to gain focus on practical fields of microeconomics. Students must complete required field and classroom coursework and electives to graduate.

    • Required Credits: 72
    • Completion time: 5 years
    • Format: On-campus

    What we love about the University of South Florida

    The unlimited chances for students to work, considerable financial aid, and the lowest tuition costs.

    The University of South Florida is great for students who:

    Thrive in diversity and are very driven.

    The University of South Florida might not be the best fit for students who:

    Are highly conservative and haven’t been exposed to a diverse environment in terms of culture and religion.

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  17. #14

    University of New Hampshire

    Durham , NH
    #1 Best Public Colleges in New Hampshire 2023 #1 Most Affordable Colleges in New Hampshire 2023 #2 The Most Influential Universities and Colleges Ranked by State 2023 #2 Best Grad Schools in New Hampshire 2023
    Other Rankings

    Tuition + fees

    $19K

    Acceptance

    87%

    Graduation

    78%

    Student body

    14K

    Median SAT/ACT

    1185/27

    What is University of New Hampshire known for?

    University of New Hampshire’s faculty and alumni have been influential in:

    Most Influential Alumni

    The University of New Hampshire is one of the top public colleges in the country that currently concentrates on research. As a premier public research institution in the state, UNH provides students with award-winning instructors and state-of-the-art facilities.

    UNH’s PhD in Economics has in-state and out-of-state per credit hour fees of $785.00 and $1,370.00. Students focus on exploring detailed models and in-depth analyses of businesses and governments. Graduates are grounded in economic theories and models and will have the necessary research abilities and skills to teach in postsecondary institutions.

    • Required Credits: 60
    • Completion time: 5-4 years
    • Format: On-campus

    What we love about the University of New Hampshire

    The safe and empowering campus.

    The University of New Hampshire is great for students who:

    Are yet to find their purpose in life, thanks to the school’s vast options for majors.

    The University of New Hampshire might not be the best fit for students who:

    Prefer small classes and are unprepared for academic competition.

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  18. #15

    University of Wyoming

    Laramie , WY
    #10 Most Affordable Graduate Schools Ranked for 2023 #1 The Most Influential Universities and Colleges Ranked by State 2023 #1 Best Colleges in Wyoming 2023 #1 Best Online Master's Programs in Wyoming 2023
    Other Rankings

    Tuition + fees

    $5K

    Acceptance

    97%

    Graduation

    60%

    Student body

    10K

    Median SAT/ACT

    1140/24

    What is University of Wyoming known for?

    University of Wyoming’s faculty and alumni have been influential in:

    Most Influential Alumni

    The University of Wyoming offers over 80 undergraduate and 90 graduate programs through seven colleges. UW also has one of the longest research histories, focusing on energy and land management.

    UW’s PhD in Economics is among the country’s cheapest doctorate programs. Students are expected to enroll in 9 credits per semester, which is $3,591 for in-state students and $9,162 for out-of-state students. But because this is a fully funded doctorate, doctoral students pay less. Students decide which area of interest they’ll perform their original research.

    • Required Credits: 42
    • Completion time: 5 years
    • Format: On-campus

    What we love about the University of Wyoming

    The supporting community.

    The University of Wyoming is great for students who:

    Want a strong background in agriculture and engineering.

    The University of Wyoming might not be the best fit for students who:

    Prefer a big campus community and want a more active social and Greek life.

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