Economics scholarships can serve as a valuable tool for undergraduate and graduate students to specialize their education in studying how people produce, consume, and transfer wealth in the ordinary business of life. Whether you're interested in macroeconomics to examine the total financial output of a nation or microeconomics to explore how individuals and firms use limited resources, there are scholarships available for you. Taking advantage of this scholarship funding can provide the financial backing to start versatile career paths in business and reach your potential in boosting economic development. Below we've highlighted 20 of the best scholarships available for business students looking to delve deep into economic theories.
1. AIER Summer Fellowship Practicum Program
Deadline: April 1st
Annually, the American Institute for Economic Research (AIER) introduces the Summer Fellowship Practicum program to accomplished undergraduate and graduate students who are interested in immersing themselves in the economic research process from conception through completion. To qualify for the fellowship and generous stipend, applicants must be at least 21 years old, have a declared major in economics or a closely related field, be enrolled in a U.S. degree-granting institution, and submit two letters of support. Fellows will join a seven-week summer research forum to further develop their analytical, writing, and presentation skills.
2. Appraisal Institute Education Trust Scholarships
Deadline: April 15th
Through the Appraisal Institute Education Trust (AIET), an undergraduate and a graduate scholarship are awarded each spring for $1,000 apiece to outstanding students currently majoring in real estate appraisal, land economics, economics, real estate, or another closely related field. Eligible applicants must have at least sophomore standing, be enrolled at a U.S. accredited institution, have a strong academic record, and plan to enter a career in the real estate field. Along with the application, students must submit official college transcripts, two letters of recommendation, a current resume, and a 200-word personal statement discussing their aspirations in appraisal.
3. Blanche McKenzie Scholarship in Economics
Deadline: February 25th
At the University of California in Santa Cruz, the Division of Social Sciences has established the Blanche McKenzie Scholarship in Economics in honor of a late professor who was one of the first female economists of her time and became recognized worldwide as the "guru of mathematical economics." Applicants interested in this $1,000 annual scholarship must be currently enrolled full-time with an undergraduate major in economics, exhibit financial need, be in good academic standing, and share McKenzie's commitment to humanitarian services. Preference will be given to female economics majors who aspire to help other women achieve their goals in higher education too.
Blanche McKenzie Scholarship in Economics
1156 High Street
Santa Cruz, CA 95064
4. Citigroup Fellows Program
Deadline: November 30th
Sponsored by the United Negro College Fund (UNCF) with funding from the leading global financial services company, the Citigroup Fellows Program is available to provide $6,400 to sophomore-level undergraduate students to help finance their junior and senior years at a UNCF member university. This program is only open to African American students who are pursuing a major in business, finance, economics, accounting, computer science, or management with a minimum overall GPA of 3.0. Along with the funding, recipients will be given the opportunity to be mentored by Citigroup professionals and attend business conferences.
5. Edmund S. Muskie Graduate Fellowship
Deadline: November 2nd
Administered through the U.S. Bureau of Educational and Cultural Affairs, the Edmund S. Muskie Graduate Fellowship program is designed to provide full-tuition funding for emerging leaders from Eurasia to complete a master's-level program in the United States over one to two academic years. Qualified applicants from Eastern Europe and the Middle East must be pursuing their studies in business, economics, international affairs, communications, public administration, or public policy. Muskie fellows also are given the chance to learn American values by participating in community service learning and completing a full-time internship.
6. Enid Hall Griswold Memorial Scholarship
Deadline: February 15th
Through the Daughters of the American Revolution (DAR) society, the Enid Hall Griswold Memorial Scholarship is awarded annually for $1,000 to deserving junior or senior-level undergraduates who are pursuing a major in government, economics, or history. Eligible candidates must be enrolled full-time in an accredited U.S. college, carry a minimum overall GPA of 3.25, exhibit financial need, and be actively involved extra-curricular activities. All applications must be accompanied by an official college transcript, proof of U.S. citizenship, one letter of recommendation, and a 1,000-word essay describing their career objectives.
7. Equilar Scholars Program
Deadline: March 31st
Within the Asian Pacific Fund, the Equilar Scholars Program is sponsored by the "Big Data" firm with an unrivaled cloud-based platform to provide two $1,000 scholarships each year to undergraduate students majoring in economics, mathematics, statistics, or another field with a substantial amount of quantitative coursework. Eligible applicants must be enrolled full-time at the University of California Berkeley, maintain a minimum overall GPA of 3.0, demonstrate significant financial need, and possess strong analytical skills for working with data. Preference will be given to any candidates of Asian descent who reside in Alameda, San Francisco, San Mateo, Santa Clara, or Marin counties in California.
8. Frederic S. Lee Heterodox Economics Scholarship
Deadline: May 15th and November 1st
As part of the Greater Kansas City Community Foundation, the Frederic S. Lee Heterodox Economics Scholarship has been created in honor of a well-accomplished American heterodox economist who was the president of the Association for Institutional Thought and published 56 articles discussing microeconomic theory before his passing in 2014. Qualified applicants must show financial need for assistance to enroll in a doctoral heterodox economics program, with priority going to those attending the University of Missouri in Kansas City (UMKC). Recipients will receive tuition and fee coverage for up to three doctoral classes each semester.
9. Helen D. Snow Memorial Scholarship
Deadline: March 1st
Established by Phi Chi Theta, the co-ed fraternity for business and economics professionals across the United States, the Helen D. Snow Memorial Scholarship is presented annually for up to $2,500 to national members in good standing who are enrolling in an accredited bachelor's, master's, or doctoral degree related to business and/or economics. Eligible candidates must be attending a U.S. degree-granting institution, have completed at least one semester of college, and exemplify the characters of a business leader. Applicants must attach an official transcript, current course schedule, two letters of recommendation, a resume, and a one-page essay describing their future role as a Phi Chi Theta alumni member.
10. IMF Institute for Capacity Development Scholarship
Deadline: January 31st
Through the International Monetary Fund (IMF), the Institute for Capacity Development Scholarship provides full-tuition awards for Japanese nationals studying in a Ph.D. program for macroeconomics outside of Japan, including in the United States. Qualified applicants must be able to obtain their doctoral degree by 34 years old, be entering their first or second year of advanced studies, supply two reference letters, and write a personal statement expressing their desire to work as an IMF economist. Annually, seven recipients will be chosen to attend a two-day orientation in Washington DC, receive full university tuition for two years, earn a monthly living allowance, and participate in a paid summer internship.
11. Mid-Atlantic Security Traders Scholarships
Deadline: April 30th
For those in Maryland, Virginia, and Washington, DC, the Mid-Atlantic Security Traders offers three annual scholarships for $2,500 apiece to outstanding undergraduate students in their sophomore or junior year who have a declared major in business with an emphasis in economics and/or finance. Eligible applicants must be U.S. citizens, have full-time enrollment at a four-year public or private college, and show an interest in pursuing a career buying or selling securities. For consideration, candidates must submit two letters of reference, an official transcript, a list of current extra-curricular/work activities, and a 500-word essay describing the importance of securities markets.
12. Mike Molino RV Learning Center Scholarship
Deadline: June 3rd
Each year, the Mike Molino RV Learning Center offers a $2,500 scholarship for deserving full-time college undergraduate students who are majoring in business, finance, economics, or accounting with the overall career objective of working in the RV industry. Qualified applicants must have a minimum cumulative GPA of 2.8, have earned an SAT score of 1050 or above, have at least sophomore standing, attend an accredited four-year college, and exhibit a willingness to fund their own educational expenses. Candidates must submit a copy of their FAFSA form, write a 500-word essay on their goals in college, and attach a resume showing their background in RV industry employment.
13. NABE Certified Business Economist Scholarships
Deadline: March 13th
Within the National Association for Business Economics (NABE), the Certified Business Economist Scholarships are awarded annually for up to $1,500 to individuals interested in taking courses in preparation for earning CBE certification in applied economics and data analytics. To qualify, candidates must be employed in a full-time position that utilizes economic concepts, have completed a four-year bachelor's degree from an accredited U.S. institution, have at least one year of work experience in economics, be pursuing exam prep courses, and show potential for becoming a Certified Business Economist. Scholarship winners will only be allowed up to 18 months for preparing and passing the exam successfully.
14. Nebraska Actuaries Club Scholarships
Deadline: March 31st
Ranging in value from $2,000 to $4,000, the Nebraska Actuaries Club (NAC) uses funding from the Nebraska Insurance Federation to award three scholarships annually for undergraduate students who are majoring in actuarial science, economics, mathematics, or statistics. Qualified candidates must be attending an accredited university in Nebraska, have graduated from a U.S. high school, carry a minimum cumulative GPA of 3.0, demonstrate strong mathematical abilities, submit proof of significant test scores, and plan to pursue a career in the actuarial field. Preference will be given to applicants who are attending one of the University of Nebraska's campuses in Lincoln, Omaha, or Kearney.
15. NCITD International Trade Scholarship
Deadline: April 8th
Sponsored by the National Council on International Trade Development (NCITD), the International Trade Scholarship is presented each year for $1,000 to students currently enrolled in an undergraduate or graduate degree program with a major in political science, economics, finance, criminal justice, or international relations. Applicants must have at least junior-level status, be enrolled in an accredited U.S. university, maintain a minimum overall GPA of 3.0, and plan to pursue a career related to the international trade industry. Recipients will receive a one-time award paid directly to their school and a free one-year NCITD membership.
16. NSHSS Foundation Scholarships
Deadline: April 1st
Within the National Society of High School Scholars Foundation (NSHSS), annual scholarships are awarded for $1,000 to graduating high school seniors in the United States who have been accepted for full-time enrollment in an accredited four-year institution to pursue a major in business, finance, economics, or public administration. Qualified applicants must be actively involved in extra-curricular professional activities, be recommended by an educator, maintain a minimum overall GPA of 3.0, and attach an official high school transcript. Candidates will be judged on the basis for their potential to make effective public policy decisions that positive impact national and international organizations in the 21st century global economy.
17. Phelps County Bank Scholarship
Deadline: March 1st
For undergraduate and graduate students in Missouri, the Phelps County Bank Scholarship has been created to offer up to $2,000 annually to reduce the financial burden of earning a major in economics, microeconomics, macroeconomics, or finance. Qualified applicants must exhibit financial need, plan to pursue a career related to the banking industry, have an outstanding grade point average above 3.5, and have a federal adjusted family income under $40,000 per year. While preference is strongly given to students currently enrolled full-time at the Missouri University of Science and Technology, other candidates attending an accredited four-year college within Missouri should still apply.
18. PSEG Foundation Scholarships
Deadline: December 15th
Funded through the diversified energy company Public Service Enterprise Group, the PSEG Foundation Scholarships are available from the United Negro College Fund (UNCF) to provide $5,000 annually to incoming African American freshmen who are planning to major in business, finance, economics, computer technology, or engineering. Eligible candidates must be accepted into an accredited four-year college, have U.S. citizenship or permanent residency, maintain a minimum GPA of 2.75, and reside within PSEG's service area of Connecticut, New Jersey, or New York. Applications must include an official high school transcript, one academic reference letter, and a short essay describing their interest in the energy industry.
19. W. Allan Herzog Scholarship Program
Deadline: March 15th
In honor of a past member of the Tau Kappa Epsilon who served as an investment advisor and financial officer while building the fraternity's chapter at the University of California in Berkeley, the W. Allan Herzog Scholarship is presented each year for $3,000 to active undergraduate members who are pursuing a full-time degree in accounting, finance, or economics. Eligible candidates must have at least one full year of studies remaining, carry a minimum overall GPA of 2.75, be actively involved in TKE's Nu Chapter, and show an outstanding potential for business leadership. With the online application, students must attach an academic transcript, letter of recommendation, and a wallet-sized professional photograph.
20. William H. Dickinson Scholarship
At the University of South Dakota, the William H. Dickinson Scholarship has been established by the Beacom School of Business to honor the legacy of an alumni member and state native who lead a supremely successful career with the Exxon Corporation. Qualified candidates for this $1,500 scholarship must be majoring in economics, be currently enrolled full-time, be in good standing with the university, have graduated from a South Dakota high school, maintain a minimum GPA of 3.0, and exhibit financial need. Selection will be based on academic promise, scholastic performance, involvement in school/extra-curricular activities, and career plans.
Economics has recently been recognized by Forbes magazine as the 10th best master's degree for jobs with its mid-career median pay of $115,000! While it's clear that this major can lead to lucrative salary potential, you'll first need to finance at least four to six years of training in post-secondary education and graduate with little debt for a good ROI. That's why you should keep an eye on these great economics scholarships to boost your financial resources for college.