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If were to double major in economics or some other business major would it be better to go to NU?
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In general, privates tend to be pretty flexible with double-major or changing major even as late as the beginning of your junior year. I can tell you at NU, double-major is very common; IE+econ is one of the most common for double-major across two different schools at NU. You'd have to find out what GaTech policy for double-major is.
Top MBA programs usually require people with few years of experience and by that time, your job performance, GMAT, and recommendation from coworkers are more important than where you went for undergrads. Undergrad GPA would be a factor, however. NU has more competitive students but it may actually be easily to get good grades at NU due to its grade inflation. It's hard to say.