<p>Both are great schools with different strengths although one may argue that Chicago is stronger in research overall. If you were to major in Computer Science, I would lean towards CMU; but in this case, you plan to major in Economics. UChicago is hands down one of the top schools in economics in the country if not in the world. The University of Chicago is the only university that has a brand name in economics, i.e. Chicago Economics. That should tell you something.</p>
<p>Visit both schools and find out which school is better fit for you. Good luck.</p>