Earning an economics degree can get expensive. If you’re looking for financial aid for economics degree programs, don’t forget to apply for as many scholarships as possible. Scholarships are free money that—unlike student loans—you won’t have to pay back.
Although many scholarships go to students seeking a bachelor’s degree, not all free funding opportunities take the form of scholarships for undergraduate economics majors. Whether you’re looking for general scholarship opportunities for programs as specific as economics scholarships for females or master’s in economics scholarships for African American students, there are plenty of funding opportunities out there to pursue.
The Top Scholarships for Economics Majors
1. George Mason University Mercatus MA Fellowship
Award amount: $80,000 over two years
Scholarship Details: Master’s in economics scholarships that cover the full cost of your graduate education aren’t easy to come by, but this two-year fellowship covers tuition for nine credits of Master of Arts in economics coursework each semester, provides a monthly stipend for living expenses, and includes opportunities for practical research experience.
- Must be enrolled in the MA in economics degree program at George Mason University
- Must take 9 credits of graduate study per semester
- Must maintain a GPA of at least 3.5
- Must meet certain course requirements in economics and related areas
- Must work 20 hours per week with Mercatus Center faculty and staff
- Must participate in events and activities such as career development and job placement workshops and a Theory to Practice Readings Group
2. Max & Verda Foster Memorial Scholarship at California State University, Stanislaus
Award amount: Full registration fees for one academic year
Scholarship Details: Not many scholarships are as generous as covering full tuition cost for a year, but this institution-specific opportunity is. Students at California State University, Stanislaus who are planning a career in the business and economics of the agriculture industry can apply.
- Must be a junior or senior undergraduate student enrolled at California State University, Stanislaus
- Must be majoring in economics or any concentration of business administration
- Must be pursuing a career related to the agriculture industry
- Must maintain a GPA of at least 3.2
3. Scarlett Family Foundation Scholarship
Award amount: $2,500 to $30,000 per year
Scholarship Details: Middle Tennessee students pursuing any business or STEM major can apply for a scholarship from the Scarlett Family Foundation, which was founded by Joe and Dorothy Scarlett and has awarded $16 million to more than 650 students since 2006.
- Must be a resident of one of the 40 qualifying counties located in Middle Tennessee
- Must be enrolled or intend to enroll in a business or STEM degree program at a four-year institution
4. Society of Actuaries James C. Hickman Scholar Program
Award amount: $20,000 per year, renewable up to two times
Scholarship Details: Actuaries going back to school to earn a doctorate in economics or another actuarial science-related discipline can apply for this high-value renewable scholarship from the Society of Actuaries. Named for the former dean of the University of Wisconsin–Madison School of Business, this scholarship program is intended to support actuaries in their pursuit of a doctoral education that would facilitate research pertaining to both theoretical and practical needs that arise in the actuary profession.
- Must be applying to, admitted to, or enrolled full-time in a doctoral program in actuarial science, economics, business, insurance, risk management, statistics, or mathematics in the U.S. or Canada
- Must have already passed a minimum of two actuarial exams and hold (or be pursuing) either an Associate- or Fellowship-level actuarial credential
5. Fukunaga Scholarship Foundation
Award amount: $20,000 over four years
Scholarship Details: If you’re from Hawaii and plan to use your economics degree to launch a career in business, the Fukunaga Scholarship is one funding opportunity you shouldn’t overlook. The Foundation awards approximately 40 of these scholarships per year on the basis of leadership ability and commitment to a business career.
- Must be a resident of Hawaii and have graduated from or be anticipating graduation from a high school based in Hawaii
- Must plan to build a career in business in Hawaii or the Pacific Islands
- Must have a GPA of at least 3.0
6. Goldberg-Miller Public Finance Scholarship
Award amount: $20,000
Scholarship Details: The Goldberg-Miller Public Finance Scholarship for students pursuing finance-related work in the public sector dates back to 1985 when it was established as the Daniel B. Goldberg Scholarship.
- Must be enrolled as a full-time student at the graduate level
- Must be pursuing a course of study related to government finance
- Must be committed to working in the public sector
7. The Humane Studies Fellowship at the Institute for Humane Studies at George Mason University
Award amount: Up to $15,000
Scholarship Details: For full-time Ph.D. students pursuing research in the humanities and social sciences, the renewable Humane Studies Fellowship can drastically cut the cost of going for your doctorate.
- Must be a full-time Ph.D. student enrolled at any institution and studying economics, sociology, philosophy, political science, history, and other disciplines in the social sciences and humanities
- Must be pursuing a research interest that aligns with endeavors in the advancement of classical liberal scholarship
- Must present a paper about their research at an academic conference or submit a paper to a peer-reviewed journal
8. Government Finance Professional Development Scholarship
Award amount: $10,000
Scholarship Details: Many scholarship opportunities are reserved for full-time students, but this one is for part-time students who attend graduate school while working in the public sector. You must be committed to government work, as evidenced by a letter of recommendation.
- Must be enrolled part-time in graduate school
- Must focus their studies on governmental economics, accounting, finance, or business or public administration
- Must have a minimum of two years of employment history with government entities
9. UBS/PaineWebber Scholarship
Award amount: Up to $8,000
Scholarship Details: Global financial firm UBS/PaineWebber is the donor behind this scholarship that is available to economics and business students who have already proven their academic performance at the college level.
- Must be a currently enrolled college sophomore or junior
- Must maintain a GPA of 3.0 or higher
- Must be attending a college or university from the list of 30+ targeted UNCF institutions
- Must major in a business-related field, such as economics, finance, management, marketing, accounting, business administration, or international business
10. MUFG Union Bank Scholarship Program
Award amount: $5,280
Scholarship Details: Union Bank, part of the international financial institution Mitsubishi UFJ Financial Group, Inc., has partnered with UNCF to offer this scholarship for college students pursuing degrees related to economics and finance.
- Must have a 3.3 GPA
- Must be enrolled as a college sophomore
- Must be enrolled as a full-time student at a UNCF member college or university, a Historically Black College or University (HBCU), or another accredited four-year school in the United States
- Must major in economics, banking, finance, accounting, business, human resources, information technology, computer information systems, software engineering, or cyber security
11. Ross Mayer Scholarship in Economics at the University of Connecticut
Award amount: $5,000
Scholarship Details: Economics majors at the University of Connecticut can apply for this scholarship, named for an alumnus who became a successful financial planner after earning his Bachelor of Arts in economics at the school in 1970 if they demonstrate both financial need and academic achievement.
- Must be enrolled full-time as an undergraduate economics major at the University of Connecticut
12. Sam’s Club Scholars Program
Award amount: Up to $5,000
Scholarship Details: This scholarship is a partnership between Sam’s Club, a subsidiary of Walmart, and UNCF. No specific major is required to apply for the scholarship, but the donor gives preference to students who are majoring in business administration and related areas—which means that economics majors are well-suited to apply, given the relationship between economics and business.
- Must be currently enrolled as a sophomore or junior at one of the 30+ UNCF member institutions
- Must maintain a GPA of at least 3.0
- Must fill out the FAFSA and demonstrate financial need
13. Mid-Atlantic Security Traders Association Foundation Annual Scholarships
Award amount: $2,000 and $5,000
Scholarship Details: The Mid-Atlantic STA Scholarship program offers scholarships for both high school seniors and current college students who are focusing their post-secondary education on economics, finance, and business. The scholarship amount for high school students is $2,000, while the amount for current college students increases to $5,000. Students’ athletic and extracurricular activities, as well as any awards and academic honors they have received, are given consideration in evaluating applications.
- Must be from the Mid-Atlantic region, including Maryland, Virginia, and Washington, D.C.
- Must be a high school student who has played the Stock Market Game simulation or a current college student at the sophomore or junior level who is pursuing a degree in economics, finance, or business
14. UCLA Economics Departmental Scholarships
Award amount: $1,500–$5,000
Scholarship Details: Through the funding provided by donor contributions, the economics department at UCLA is able to offer an assortment of scholarships of various amounts.
- Must be enrolled as a full-time student at the University of California, Los Angeles
- Must be pursuing a degree in economics or business economics
15. Edward M Nagel Scholarship
Award amount: Up to $3,000
Scholarship Details: For business and economics students who are natural leaders, the Edward M Nagel Scholarship can offer opportunities for college funding. This scholarship awards students with demonstrated leadership qualities and asks that applicants list their leadership roles, along with employment and community service experience, in their application.
- Must be enrolled full-time at an accredited four-year institution
- Must be seeking a bachelor’s degree in any business subject, including economics, finance, accounting, business administration, and human resources
- Must maintain a 3.0 or higher GPA
- Must have demonstrated financial need
16. Stony Brook University’s Robert S. Roth Scholarship in Economics
Award amount: Up to $2,500 annually
Scholarship details: If you enroll at Stony Brook University in New York and declare a major in economics, you could be eligible for the Robert S. Roth Scholarship in Economics as you progress through your undergraduate studies.
- Must be enrolled as a full-time undergraduate student majoring in economics at the College of Arts and Sciences at Stony Brook University
- Must have sophomore, junior, or senior academic standing
- Must have a minimum GPA of 3.0, with 3.5 and above GPAs preferred
17. Fort Hays State University High Plains Farm Credit Business Scholarship
Award amount: $2,500
Scholarship Details: Economics majors who come from a farming background could be eligible for a funding opportunity supported by the Farm Credit customer-owned cooperative financial institution
- Must be enrolled as a sophomore, junior, or senior student at Fort Hays State University in Kansas
- Must be majoring in economics, accounting, or finance
- Must have a GPA of at least 2.5
18. Michigan State University Ann Feldman Scholarship
Award amount: $2,500
Scholarship Details: For some students, the path to a college degree isn’t easy. If you have faced major challenges in your life, this institution-specific funding opportunity may be for you.
- Must be enrolled as an undergraduate economics student at Michigan State University and in good academic standing
- Must demonstrate having faced and overcome significant challenges
19. The Economic Club of Grand Rapids Business Study Abroad Scholarship
Award amount: Up to $2,000
Scholarship Details: Studying abroad can be a valuable experience for economics majors, but it can also be costly. Students with
- Must be a resident of the West Michigan area, including Kent, Allegan, Ottawa, and Muskegon Counties
- Must major in economics, accounting, business administration, managerial science, marketing, mathematics, computer science, or engineering
- Must have a minimum 3.0 GPA
- Must be pursuing a foreign study program for college credit
20. Hal Cohen Memorial Scholarship Fund
Award amount: $1,500
Scholarship Details: Economics is at once an area of business, a social science, and part of the humanities—which means that students pursuing can seek scholarships available in any of these disciplines. The Hal Cohen Memorial Scholarship, named for a longtime English teacher at Egg Harbor Township High School in New Jersey, is awarded to seniors and recent graduates of the high school who are pursuing a degree in any area of the humanities, including economics.
- Must be a graduating senior or a recent graduate of Egg Harbor Township High School in NJ, where Hal Cohen was an outstanding educator
- Must have been accepted into college and enrolled on a full-time basis for the fall semester
- Must be planning to major in and launch a career in the humanities
- Must have a GPA of at least 3.0
21. The National Society of High School Scholars Foundation’s Business & Public Policy Scholarship
Award amount: $1,000
Scholarship Details: If you’re interested in the public policy side of economics, this opportunity is for you. The NSHSS Foundation Business & Public Policy Scholarship is intended to help aspiring public policy analysts and leaders who will use their education to support government decision-making develop a thorough understanding of policy analysis.
- Must be a high school senior at the time of application
- Must have a GPA of 3.0 or higher
- Must be intending to major in economics, public policy, finance or business administration
22. The Foundation for Financial Service Professionals Paul S. Mills Scholarships
Award amount: $1,000
Scholarship Details: Each year, the Foundation for Financial Service Professionals awards 15 scholarships through its Paul S. Mills Scholarship program. Funding opportunities aren’t limited to economics majors, instead being open to students in all financial service-related areas of study.
- Must be enrolled as a full-time or part-time college student with one year of credits completed
- Must be majoring in a field of study related to financial service
- Must fill out the FAFSA and demonstrate financial need
- Must be prepared for a brief phone interview
Economics Scholarships Under $1,000
When you’re looking at the massive costs of college education, it’s easy for students to discount the value of scholarship opportunities under $1,000. However, these smaller scholarships—some of which are earmarked for specific expenses or programs—can really add up, and the competition for these opportunities may be lower. Remember, every little bit of free money toward your college education helps.
23. Triadex Services Scholarship Program
Award amount: $250-$750
Scholarship Details: Marketing solutions company Triadex Services awards up to five one-time scholarships each year to students who, in addition to leading and serving in their schools and communities, are committed to furthering their knowledge of business and marketing methodologies.
- Must be a high school senior or a currently enrolled student at an accredited institution in the United States
- Must have a GPA of at least 3.3
- Must intend to earn a degree in some aspect of business, marketing, entrepreneurship, or technology
24. Lawrence H. and Linda L. Sims Endowment for Internships in Economics at Michigan State University
Award amount: $500
Scholarship Details: While internships are useful ways to develop real-world work experience in the field of economics, they don’t always pay, or pay well. This scholarship from the Department of Economics at Michigan State University may help economics students who need to travel and incur additional living expenses to participate in an internship or who will have to give up a paying job for an unpaid internship.
- Must be an economics major enrolled at Michigan State University
- Must be in good academic standing, although no minimum GPA is specified
- Must be participating in an internship opportunity or have accepted an internship offer
25. Dr. Antonio Jorge Political Economy Scholarship
Award amount: $500
Scholarship Details: If you’re from the Sunshine state and you have an interest in politics, here’s a scholarship to consider. Named for a professor of political economy at Florida International University, this location-specific scholarship is awarded to two students annually.
- Must be a Miami – Dade County, Florida, resident
- Must be attending a regionally accredited institution located in Miami Dade County
- Must be seeking an undergraduate degree in economics, political science, international relations, public administration, history, or sociology
26. Fort Hays State University Meckenstock Family Scholarship
Award amount: $500
Scholarship Details: This school-specific scholarship is for women who, in addition to pursuing their academic interests in the study of economics or business, are also following their athletic interests. Residents of western Kansas are given preference in this scholarship selection process.
- Must be enrolled as an economics or business major at Fort Hays State University
- Must be a female student-athlete
27. University of Connecticut Rockwood Q.P. Chin Scholarship
Award amount: $400
Scholarship Details: Does the global economy capture your attention? This institution-specific scholarship is available if you can demonstrate an interest in international economics.
- Must be enrolled as an economics major at the University of Connecticut with junior or senior academic standing
- Must have a demonstrated academic and professional focus on international economics
Economics Major Scholarships Aimed at Promoting Diversity and Inclusion
Unfortunately, the field of economics hasn’t historically been particularly diverse or inclusive, according to data presented by the International Growth Centre. However, new efforts are underway to promote diversity in the field of economics, and there are a number of scholarships that support this goal.
28. The American Economics Association (AEA) Summer Training Program and Scholarship Program
Award amount: $25,000 program cost + $3,250 stipend
Scholarship Details: More than just a scholarship, the AEA Summer Training Program, and Scholarship Program is a coursework and training program for prospective doctoral students of economics. Students who “will bring greater diversity to the economics profession” are particularly encouraged to apply.
- Must be interested in pursuing a doctorate in economics
- Should be a recent graduate or current student in a degree-granting program that includes coursework in statistics, calculus, and microeconomics
- Should have strong grades, ideally with a 3.0 or higher GPA in relevant classes
29. Minorities in Government Finance Scholarship
Award amount: $10,000
Scholarship Details: Since 1993, the Minorities in Government Finance Scholarship from the Government Finance Officers Association of the United States and Canada has helped underrepresented students who are committed to a career in the public sector pay for their education with a one-time award of $10,000.
- Must be a minority student
- Must be enrolled as a graduate student or an upper-level undergraduate student (full-time or part-time)
- Must be pursuing a course of study in economics, political science, finance, accounting, business administration, or public administration and be preparing for a career in government finance at the state or local level
- Must include with the application a letter of recommendation that focuses on the student’s commitment to working in the public sector
30. Hsiao Memorial Social Sciences Scholarship
Award amount: $1,000
Scholarship Details: Named for Indiana State University economics professor of Liang-Lin Hsiao, this scholarship gives preference to students of Asian heritage who have faced struggles in acquiring an education.
- Must be a graduate student enrolled in a United States university
- Must maintain a 3.0 minimum GPA
- Must be pursuing a degree in economics or the social sciences