MIT Department of Economics

What MIT Department of Economics does

The MIT Department of Economics is an academic unit within the Massachusetts Institute of Technology, a private non-profit research university founded in 1861 and located at 77 Massachusetts Avenue in Cambridge, Massachusetts. The Department delivers world-class undergraduate and doctoral economics education as part of MIT's broader mission to advance knowledge and educate students in science, technology, and scholarship. It operates within an institution that draws 29,281 applicants for an incoming undergraduate class, admits roughly 1,334 students (about 4.6%), maintains a 3:1 student-to-faculty ratio, and is affiliated with 106 Nobel laureates, 85 MacArthur Fellows, 64 National Medal of Science winners, and 18 Turing Award winners. The Department serves prospective undergraduate students seeking economics and related-field education, graduate students pursuing PhD-level research careers, and a broader research faculty and scholar community engaged in economic research and policy analysis.

The Department's core product is degree-conferring education and economic research output, delivered through on-campus academic programs at the Cambridge campus and extended globally through MIT OpenCourseWare and MITx online platforms. Underlying infrastructure includes the academic research apparatus of MIT, integration with the Kendall Square innovation district, and access to extensive research data and computational resources. The Department does not maintain standalone proprietary products or commercial technology offerings.

Its business model operates as a non-profit academic institution with three primary revenue streams: tuition income from enrolled students, which is largely offset by need-based financial aid under MIT's need-blind admissions policy that meets 100% of demonstrated financial need; federal and sponsored research grants funding faculty research; and philanthropic support from the 150,000+ global alumni network and broader MIT community. The Department is not venture-backed, is not publicly traded, and does not operate commercial products or pursue equity investment structures.

Name

MIT Department of Economics

Legal name

Massachusetts Institute of Technology

Website

https://mit.edu

Company type

Private

Founded year

1861

Operating status

Operating

Headcount range

251–500 employees

Short description

The MIT Department of Economics is a non-profit academic unit within the Massachusetts Institute of Technology that delivers undergraduate and doctoral economics education and research. It serves prospective students, graduate researchers, and the global academic community, operating from MIT's Cambridge campus.

Ownership category

akta.pro rank

Product category

Higher Education

NAICS

Scientific Research and Development Services (5417)

SIC

Services-Engineering, Accounting, Research, Management (8700)

akta.pro primary industry

Comprehensive Doctoral Research Universities (Multi-Disciplinary) (EDAHABAA)

akta.pro secondary industries

Economic & Macroeconomic Research (BPAHALAD), Management Research Institutes & Doctoral (PhD/DBA) Programs (EDAHAHAO)

Keywords

• Economics education
• Doctoral research programs
• Undergraduate economics
• Academic economic research
• Higher education services

Headquarters

HQ city

Cambridge

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Infrastructure, Marketing or Sales

Revenue model

1. Tuition and Financial Aid: MIT operates on a need-blind admissions policy with tuition revenue offset by substantial financial aid packages. The institution invests in scholarships and fellowships funded by alumni and friends.
2. Research Funding: Federal research grants and sponsored research programs funding faculty research activities across departments including Economics

Pricing tiers

Go-to-market motion1 record

Distribution channels2 records

Marketing channels6 records

Core offering

The MIT Department of Economics is an academic department within the Massachusetts Institute of Technology that delivers world-class undergraduate and graduate (PhD) education in economics, conducts frontier economic research, and trains future scholars and practitioners. It serves as a hub for economic scholarship and policy-relevant research, leveraging MIT's broader research infrastructure and Kendall Square innovation ecosystem.

Differentiator

Problem solved

Functional benefit

Products and services

• Undergraduate Economics Program
• PhD Program in Economics
• Economic Research Programs
• MIT OpenCourseWare and MITx

Quantifiable outcome

• MIT has produced 106 Nobel laureates across all disciplines
• +2 more outcomes

Named customers2 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

Two partnerships are on record, tiered minor.

• J-PAL EuropeminorOthersMIT's representative in the European Economic Area for data protection purposes under GDPR. J-PAL (Abdul Latif Jameel Poverty Action Lab) is a global research center focused on reducing poverty through evidence-based policy, with European office located at 48 Boulevard Jourdan, 75014 Paris, France.
• MIT Press UKminorOthersMIT's representative in the United Kingdom for data protection purposes. MIT Press, one of the largest and most distinguished university presses in the world, serves as UK representative for privacy matters.

Scale indicators11 records

Recent moves5 records

Expansion highlights4 records

Direct peers

• University of Oxford Department of Economics: Oxford's economics department is a top global peer competing with MIT for international PhD students and faculty, with particularly strong theoretical economics and policy research overlap.
• Stanford University Department of Economics: Stanford Economics is a top-tier private research university economics department competing directly with MIT for PhD applicants, faculty hiring, and research influence, particularly in technology economics and policy.
• Northwestern University Department of Economics: Northwestern Economics is a top private research university economics department comparable to MIT in faculty caliber and research output, particularly in applied microeconomics and theory.
• Yale University Department of Economics: Yale Economics is a direct peer at a top private research university, comparable in scale and prestige, competing with MIT for faculty and graduate students in economics.
• University of Chicago Department of Economics: Chicago's economics department is a direct peer with one of the strongest economics faculties globally, competing with MIT for Nobel-caliber research output and top PhD candidates.
• Columbia University Department of Economics: Columbia Economics is a direct peer as a top private research university economics department based in a major financial center, with strong finance and macroeconomics research that overlaps with MIT's strengths.
• Princeton University Department of Economics: Princeton Economics is a direct peer as a top private research university economics department with strong theoretical and empirical research, competing for faculty and students with MIT.
• London School of Economics (LSE) Department of Economics: LSE Economics is a global peer with one of the largest and most prestigious economics faculties, competing with MIT for international students and producing highly cited economic research.
• UC Berkeley Department of Economics: UC Berkeley Economics is a leading public research university economics department, comparable in research output and faculty caliber, competing with MIT for top graduate students and research visibility.
• Harvard University Department of Economics: Harvard's economics department is the most direct peer to MIT Economics, both being elite private research universities in the Cambridge/Boston area with top-ranked PhD programs, world-class faculty, and overlapping applicant pools for students and faculty.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights7 records

Customer concentration

• Xx.com/mitecon
• YouTubeyoutube.com/mit
• Facebookfacebook.com/MITEconomics
• LinkedInlinkedin.com/company/mit-department-of-economics

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

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M&A

Investments

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Frequently asked questions about MIT Department of Economics