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Best Online Economics Master’s Degree Programs, Jobs, and Salaries

Sunday Erhunmwunse - May 22, 2022


An online Master’s Degree in Economics qualifies you for more job opportunities and better pay. If you have an undergraduate degree in economics or a similar field and want to move forward in your career, you may be on the lookout for the best online economics master’s degrees.

Online programs allow the convenience of working in the field and learning about it at the same time. So, how do you find the right master’s program for you? This article breaks down the best online master’s degrees in economics and discusses economics master’s degree jobs for graduates.

Where Can I Get an Economics Master’s Degree Online?

Some of the best schools to get a Master’s Degree in Economics include Southern New Hampshire University, Arizona State University, Purdue University, American University, University of Missouri, and Northeastern University.

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What Schools Offer the Best Economics Master’s Degrees?

  • Southern New Hampshire University
  • Arizona State University
  • Purdue University
  • University of Missouri
  • American University

What Are the Admission Requirements for an Online Economics Master’s Degree?

The admission requirements for an online economics master’s degree include an online application, an undergraduate degree, letters of recommendation, a resume, a statement of purpose, and standardized test scores.

Applicants will have to complete an online application and submit their official transcripts, which demonstrate undergraduate education. Some schools have minimum GPA requirements and require students to submit letters of recommendation and resumes demonstrating their education, skills, and experience.

Online Economics Master’s Degree Admission Requirements

  • Online application
  • High school transcripts
  • Standardized test scores
  • Letters of recommendation
  • Statement of purpose
  • Bachelor’s degree

How to Get an Economics Master’s Degree Online

To get an economics master’s degree online you need to fulfill the graduation requirements set by the school of your choice. These requirements involve completing the credit requirements for general education courses, business courses, economics courses, and electives.

Economics Degree Requirements

  • 120 total credits
  • Approximately 30 credits of core courses
  • 35-45 general education credits
  • Elective courses
  • Maintain a minimum GPA score

Best Online Economics Master’s Degree Programs and Schools: Overview

School Program Accreditation
American University Master of Arts in Economics, Applied Economics Specialization Middle States Commission on Higher Education
Arizona State University Master of Science in Supply Chain Management Higher Learning Commission
Johns Hopkins University Master of Science in Applied Economics Middle States Commission on Higher Education
Northeastern University Master of Science in Commerce and Economic Development New England Commission of Higher Education
PennState World Campus Master of Professional Studies in Data Analytics – Business Analytics Option Middle States Commission on Higher Education
Purdue University Master of Science in Economics Higher Learning Commission
Southern New Hampshire University Master of Science in Applied Economics New England Commission of Higher Education
University of Missouri Master of Arts in Economics Higher Learning Commission
University of North Dakota Master of Science in Applied Economics & Predictive Analytics Higher Learning Commission
West Texas A&M University Master of Science in Finance and Economics Southern Association of Colleges and Schools, Commission on Colleges

Best Schools for Economics: Top Online Economics Master’s Degree Programs

The top online economics master’s degree programs boast strong curricula, affordable costs, and qualified faculty. Below are the best online master’s degree programs in economics for your graduate-level degree.

1

American University

Washington, DC

American University, chartered in 1893, is a student-centered research university in Washington, DC. The university has over 140,000 students, with students from more than 120 countries worldwide. In addition to regular campus-based programs, the institution has several online and summer programs.

Master of Arts in Economics, Applied Economics Specialization

If you want to increase your marketability in the growing field of economics, the Master of Arts in Economics with a Specialization in Applied Economics at American University has a policy-oriented curriculum. Students acquire advanced knowledge of economic theories and learn the complexities of current economics.

Graduates are well-trained for jobs in government agencies, financial institutions, multilateral organizations, and business finance. Studies by American University show that 92 percent of graduates of the program are working, in graduate school, or both.

Master of Arts in Economics, Applied Economics Specialization Overview

  • Accreditation: Middle States Commission on Higher Education
  • Tuition: $1,812/credit
  • Required Credits: 30 credits
  • Program Length: 20 months
  • Learning Format: Online
  • NCES School Graduation Rate: 79%

Master of Arts in Economics, Applied Economics Specialization Admission Requirements

  • GPA: No minimum requirements
  • Standardized Tests: Not required
  • Application Fee: $55
  • Minimum Education: Bachelor’s degree
  • Other Requirements: 1 course in calculus, two recommendation letters, statement of purpose, resume, completed online application, a phone call with an admissions officer

Applying to American University

  1. Complete the online application
  2. Pay the application fee
  3. Submit transcripts
  4. Submit additional materials
  5. Apply for financial aid

2

Arizona State University

Tempe, AZ

Arizona State University is a prestigious institution that became a university in 1958 after 70 years as Arizona State College. The university has over 400 undergraduate degree programs and more than 450 graduate degree programs. It is renowned for having some of the best online programs in the country.

Master of Science in Supply Chain Management

In this program, students learn about global competition, new markets, sustainability, social responsibility, and the modern economic environment. Other core courses include logistics and procurement, products and services, and supply chain management. The 30-credit program prepares students to be supply chain managers, sourcing leaders, or category managers.

Master of Science in Supply Chain Management Overview

  • Accreditation: Higher Learning Commission (HLC)
  • Tuition: $9,000/semester
  • Required Credits: 30 credits
  • Program Length: 9 months
  • Learning Format: Online
  • NCES School Graduation Rate: 66%

Master of Science in Supply Chain Management Admission Requirements

  • GPA: 3.0
  • Standardized Tests: Not required
  • Application Fee: $70
  • Minimum Education: Bachelor’s degree
  • Other Requirements: MITx MicroMasters® program in supply chain management, Graduate admission application, official transcripts, letter of recommendation, resume, admission essay

Applying to Arizona State University

  1. Speak with the admissions team and prepare all your application materials
  2. Complete the graduate application
  3. Pay the application fee
  4. Submit transcripts
  5. Submit supporting documents for your application

3

Johns Hopkins University

Baltimore, MD

John Hopkins University was founded in 1876 and ranks as one of the most reputable universities in the United States. In fact, US News & World Report ranked the school ninth in the Best National Universities ranking. With an extensive list of programs and a strong faculty, that does not come as a surprise.

Master of Science in Applied Economics

The Master of Science in Applied Economics at Johns Hopkins University offers intensive courses to prepare you for a career in building economic models and applying economic reasoning to solving real-world problems. Students with different undergraduate degrees can apply for the program, although there are specific requirements in maths, calculus, microeconomics, and macroeconomics. Core classes include statistics, macro and microeconomic theory, and financial econometrics.

Master of Science in Applied Economics Overview

  • Accreditation: Middle States Commission on Higher Education
  • Tuition: $5,060/course
  • Required Credits: 30 credits
  • Program Length: 12-24 months
  • Learning Format: Online
  • NCES School Graduation Rate: 94%

Master of Science in Applied Economics Admission Requirements

  • GPA: 3.0
  • Standardized Tests: Not required (optional through 2026)
  • Application Fee: $75
  • Minimum Education: Bachelor’s degree
  • Other Requirements: Minimum of a “B” in at least one semester of introductory microeconomics, introductory macroeconomics, calculus, statement of purpose, resume

Applying to Johns Hopkins

  1. Complete the online application
  2. Submit transcripts
  3. Submit a 250-word statement of purpose and a single-page resume
  4. Submit test scores (optional)
  5. Pay the application fee and submit the application

4

Northeastern University

Boston, MA

Northeastern University has nine colleges and a solid relationship with more than 3,000 partner organizations. As a result, graduates of the university have a greater chance of finding placement in top companies after leaving school. The school was founded in 1891 and has over 21,000 students.

Master of Science in Commerce and Economic Development

This program emerges students into the world of commerce and economic development. Students learn to develop their analytical skills through a capstone project and courses such as applied econometrics, mathematical methods for economics, and commerce and economic development.

Master of Science in Commerce and Economic Development Overview

  • Accreditation: New England Commission of Higher Education
  • Tuition: $975/course
  • Required Credits: 45 quarter hours
  • Program Length: 12-18 months
  • Learning Format: Online
  • NCES School Graduation Rate: 90%

Master of Science in Commerce and Economic Development Admission Requirements

  • GPA: No minimum requirement
  • Standardized Tests: Not required
  • Application Fee: None
  • Minimum Education: Bachelor’s degree
  • Other Requirements: Online application, statement of purpose, professional resume, unofficial undergraduate transcripts, two letters of recommendation

Applying to Northeastern University

  1. Prepare and format your materials following the guidelines
  2. Complete the online application
  3. Submit additional materials
  4. Apply for financial aid
  5. Submit an official transcript from your undergraduate school

5

PennState World Campus

University Park, PA

PennState World Campus is part of Pennsylvania State University (PSU). It offers several graduate and undergraduate degree and certificate programs for students who prefer to get an education online. The online campus opened its doors in 1998 and has not looked back ever since.

Master of Professional Studies in Data Analytics - Business Analytics Option

This graduate degree will teach you how to use predictive analytics, data mining techniques, and other analytics techniques. The 30-credit course will prepare you for a rewarding career as a business analyst and an analytic system designer. You will learn the necessary skills to make huge data-driven decisions for businesses.

Master of Professional Studies in Data Analytics - Business Analytics Option Overview

  • Accreditation: Middle States Commission on Higher Education
  • Tuition: $12,552/semester
  • Required Credits: 30 credits
  • Program Length: 2 semesters at 15 credits per semester
  • Learning Format: Online
  • NCES School Graduation Rate: 73%

Master of Professional Studies in Data Analytics - Business Analytics Option Admission Requirements

  • GPA: 3.0
  • Standardized Tests: GMAT or GRE (waived for fall 2022)
  • Application Fee: $65
  • Minimum Education: Bachelor’s degree or equivalent
  • Other Requirements: Two letters of references, statement of purpose, resume, completed online application

Applying to PennState World Campus

  1. Submit an application on the website
  2. Submit transcripts
  3. Submit supporting documents
  4. Pay application fee
  5. Check your application status

6

Purdue University

West Lafayette, IN

Purdue University is known for innovation, and that’s exactly why the US News and World Report ranked it among the most innovative schools in the United States. Founded in 1869, this public research university has over 200 undergraduate majors and several graduate programs.

Master of Science in Economics

This 30-credit online program teaches students how to analyze and manage business numbers and economic stats. The stock market, product prices, growth, and employment rates are all things students of this program master. Students can choose to specialize in business and data analytics, financial economics, public economics, or advanced theory.

Master of Science in Economics Overview

  • Accreditation: Higher Learning Commission
  • Tuition and fees: $1018.80/credit (in state); $1068.80/credit (out of state)
  • Required Credits: 30 credits
  • Program Length: 2 years
  • Learning Format: Online
  • NCES School Graduation Rate: 83%

Master of Science in Economics Admission Requirements

  • GPA: 2.8
  • Standardized Tests: None required
  • Application Fee: $60
  • Minimum Education: Bachelor’s degree
  • Other Requirements: 2 recommendation letters, statement of purpose, official transcripts, Kira video essay, resume

Applying to Purdue University

  1. Complete the graduate application online
  2. Pay the application fee
  3. Submit transcripts
  4. Submit additional materials
  5. Complete Kira video essay

7

Southern New Hampshire University

Manchester, NH

Southern New Hampshire University is a private university that boasts affordable tuition rates. The university has over 200 programs that are tailored to help students make the best of their careers. Students enrolled in online programs can find a supportive community that makes remote learning easy.

Master of Science in Applied Economics

The Master of Science in Applied Economics at Southern New Hampshire University prepares students to solve real-world problems in economics. Students will learn skills necessary for the workforce such as data collection, data processing, and investigative questioning techniques. 36 credits are needed for graduation.

Master of Science in Applied Economics Overview

  • Accreditation: New England Commission of Higher Education
  • Tuition: $627/credit
  • Required Credits: 36 credits
  • Program Length: 15 months
  • Learning Format: Online
  • NCES School Graduation Rate: 37%

Master of Science in Applied Economics Admission Requirements

  • GPA: 2.75
  • Standardized Tests: None required
  • Application Fee: None
  • Minimum Education: Bachelor’s degree
  • Other Requirements: Graduate attestation form

Applying to Southern New Hampshire University

  1. Complete the online application
  2. Contact an admissions officer
  3. Submit your FAFSA
  4. Submit transcripts
  5. Submit additional materials

8

University of Missouri

Columbia, MO

Founded in 1839, University of Missouri is on a journey of scientific research and academics. The university spent over $160 million on scholarships and gifts during the 2019 to 2022 period. The school is home to nearly 30,000 students.

Master of Arts in Economics

This program covers the importance of data analytics, big data, and globalization. A graduate of the program has the skills to become an economist or a data analyst . This degree is designed so that students can focus on industry-specific electives like international trade, banking, game theory, econometrics, and applied statistics.

Master of Arts in Economics Overview

  • Accreditation: Higher Learning Commission
  • Tuition: $414.60/credit
  • Required Credits: 30 credits
  • Program Length: 2 years
  • Learning Format: Online
  • NCES School Graduation Rate: 73%

Master of Arts in Economics Admission Requirements

  • GPA: 3.0
  • Standardized Tests: Not required
  • Application Fee: $75
  • Minimum Education: Bachelor’s degree
  • Other Requirements: Transcripts, two letters of recommendation, resume, personal statement, a semester of calculus

Applying to University of Missouri

  1. Review the academic requirements
  2. Transfer credits from your undergraduate degree program (if applicable)
  3. Submit official transcripts
  4. Pay the application fee
  5. Submit the required documents

9

University of North Dakota

Grand Forks, ND

University of North Dakota ranks as both the largest and oldest university in North Dakota. It has more than 200 accredited programs, with each program following the university’s pattern of building leaders in their respective fields.

Master of Science in Applied Economics & Predictive Analytics

This program is a great fit for those who want to amass data analytics skills immersed in economics. The curriculum is structured to provide knowledge and skills for graduates looking to pursue a career in data analytics, economic research and economic forecasting, and data consulting. Students learn how to use software like STATA, Python, and R for data analytics.

Master of Science in Applied Economics & Predictive Analytics Overview

  • Accreditation: Higher Learning Commission
  • Tuition: $510.73/credit (in state); $766.10/credit (out of state)
  • Required Credits: 30 credits
  • Program Length: 2 years
  • Learning Format: Online
  • NCES School Graduation Rate: 61%

Master of Science in Applied Economics & Predictive Analytics Admission Requirements

  • GPA: 2.75
  • Standardized Tests: GRE/GMAT
  • Application Fee: $35
  • Minimum Education: Bachelor’s degree
  • Other Requirements: Undergraduate course in microeconomics, one semester of probability and statistics, one semester of calculus, statement of goals, three references

Applying to University of North Dakota

  1. Create an admissions account
  2. Complete application
  3. Pay the application fee
  4. Submit transcript and test scores
  5. Submit additional materials

West Texas A&M University | Canyon, TX

Established in 1910, the school has 60 undergraduate degree programs, 38 master’s degree programs, and doctoral programs.

Master of Science in Finance and Economics

The Master of Science in Finance and Economics program is perfectly tailored for students with some experience in finance and economics who want to improve their knowledge in the field. The two-year program consists of ten semesters, with students allowed to choose their credits for a particular semester.

Students complete 36 to 45 credit hours in courses such as investments, security analysis, finance, econometrics, and advanced business forecasting. Graduates will have adopted professional communication, critical thinking, business environment, and finance and economics integration.

Master of Science in Finance and Economics Overview

  • Accreditation: Southern Association of Colleges and Schools, Commission on Colleges
  • Tuition: $500/credit (in state); $540/credit (out of state)
  • Required Credits: 36-45 credit hours
  • Program Length: 2 years
  • Learning Format: Online
  • NCES School Graduation Rate: 44%

Master of Science in Finance and Economics Admission Requirements

  • GPA: 3.0
  • Standardized Tests: GMAT (waiver can be requested)
  • Application Fee: $55
  • Minimum Education: Bachelor’s degree
  • Other Requirements: Resume, transcripts, letters of recommendation, statement of goals, and documents required by the state of Texas, which may include proof of residency, TSI scores, and Meningitis Vaccine

Applying to West Texas A&M University

  1. Complete WTAMU graduate school application
  2. Pay the application fee
  3. Submit transcripts
  4. Submit test scores
  5. Submit additional materials

What Is an Online Economics Master’s Degree?

An online economics master’s degree is a graduate credential that focuses on developing mathematical and theoretical concepts in econometrics. Among many things, students learn how to interpret and analyze financial data. Compared to a campus-based program, students can complete the credit hours from any location.

The typical program length for most online economics master’s degrees is two years, although the credit requirements may vary by program. An online economics master’s degree may usually not require a campus visit at all. Also, because there is no lab work required, it is very convenient to complete the degree remotely.

Online vs In-Person Economics Degrees

Online economics degrees have an edge over an in-person degree. Students enrolled in an online program have the freedom to take classes from anywhere in the world. On the other hand, face-to-face learning allows for better interaction with other students and the faculty. We discuss the benefits of each economics master’s degree type below.

Top 5 Benefits of an Online Master’s Degree in Economics

  • Remote learning. Students can complete a Master’s Degree in Economics program from the comfort of their homes. The program schedule can be self-paced, although you still have to complete the credits within the program length.
  • Lower costs. Online program tuition is generally cheaper than their in-person counterparts as students won’t have to pay for room, transportation, and other on-campus costs. Plus, students in online programs can also enjoy tuition discounts from some schools.
  • Control of the learning process. Students enrolled in online master’s degree programs can enjoy individualized learning. They can tailor the learning experience to what suits them and access the learning materials, assignments, and projects online at any time.
  • Flexible schedule. Perhaps one of the most significant benefits of an online degree is that students can tailor their classes to fit their schedules. That way, they can continue their professional career or jobs while they learn about the field in school.
  • Availability of resources. Students can access a wide range of learning resources in an online master’s program. In addition to message boards, they can participate in workshops and group projects, and access resource guides.

Top 5 Benefits of an In-Person Master’s Degree in Economics

  • In-person interaction . An in-person program allows students to physically interact with co-students and members of the faculty. The social, academic, and networking benefits of such interactions are unquantifiable.
  • Career services. Many in-person programs feature career services like a Career Day where students can interact with potential employers. They can also get a personal advisor to help them with job applications post-graduation.
  • Classroom resources. You don’t have to worry about the right set up to take your classes. The university classrooms are meant for that. Students also don’t have to worry about distractions as everyone in the classroom is there for the same purpose.
  • Intensity. The intensity and rigor of in-person programs are incomparable. While students won’t have the luxury of creating their own schedule, a rigorous planned schedule keeps them on task.
  • Work-study programs. Some universities offer work-study programs that allow you to take up some jobs in the university while doubling as a student.

What Types of Online Master’s Degrees Can You Get in Economics?

The types of online economics master’s degrees you can get are a Master of Science (MS), Master of Arts (MA), or Master of Business Administration (MBA) degrees. While these degrees are different, they all offer a focus on economics.

An MS in Economics program is a graduate program that focuses on applied economics to real-world problems. On the other hand, an MA in Economics is structured for students interested in academia, research, and consulting. An MBA is specifically tailored for business professionals looking to gain more expert knowledge in a particular subject area.

Is It Better to Get a Master of Science or Master of Arts in Economics?

If you are looking to work as an economist, business analyst, or financial analyst, then a Master of Science in Economics is better than a Master of Arts. A Master of Science focuses on the scientific and technical aspects of economics, while a Master of Arts is geared towards humanities and business elements.

A Master of Science in Economics and a Master of Arts in Economics both offer several job opportunities and increased pay compared to those with just a bachelor’s degree . If you want the top-paying jobs available to graduates, you should get a Master of Science.

How Much Does an Economics Master’s Degree Cost?

According to the National Center for Education Statistics (NCES), the average tuition for an economics master’s degree is $12,410. You can apply for financial aid or scholarships to ease the burden of the tuition.

How Long Does It Take to Get an Economics Master’s Degree Online?

It takes an average of two years to get an economics master’s degree online. Most programs require students to complete 30 credits to get their degree. If a program has four semesters in total, then students have to take an average of seven credits per semester. However, the number of semesters and credits vary by school.

Are Online Economics Degrees Respected?

Yes, online economics degrees are respected. They are starting to gain popularity as more reputable institutions now offer online economics degree programs. In fact, NCES reported that over seven million students attended distance education courses in 2019.

Is Economics Hard to Learn Online?

No, it is not hard to learn economics online. Since it doesn’t require laboratory work as you would find in biological, medical, and physical sciences, you don’t have to visit any location to fulfill credits. Students can complete the theoretical work, assignments, and projects from the comfort of their homes.

Economics Bootcamp vs Online Economics Master’s Degree: Which Is Better?

An online economics master’s degree program is better than an economics bootcamp because it has a more in-depth curriculum, a choice of degree tracks, and funding options. If you are just looking to upskill or land an entry-level job, you might consider an economics bootcamp.

Bootcamps are intensive study programs with curricula designed to align with industry trends. If you are choosing between an advanced degree and a bootcamp, check out the benefits of each below. The best educational path for you will depend on your resources and long-term career goals.

Top 5 Benefits of an Online Economics Master’s Degree

  • Degree tracks. Students can either take a course-based track or a research-based track in a graduate program. Master’s degrees offer many specializations and concentrations, as well as elective courses in different focus areas.
  • Funding options. Economics master’s degrees offer several scholarships and financial aid options to help students cover the cost of study.
  • Career opportunities. A bachelor’s degree or bootcamp will help you get entry-level jobs, but you need a master’s degree or PhD for higher-paying positions. Going to an accredited institution increases your chances of getting hired for high-paying positions.
  • Resources. Colleges and universities, even when online, offer student activities, clubs, associations, networking events, company information sessions, workshops, and professional services to their students.
  • In-depth curriculum. Although a master’s degree is much longer than a bootcamp, it goes far more in-depth. Instead of just getting an overview of the fundamentals of economics, students learn the ins and outs of their major.

Benefits of an Economics Bootcamp

  • Program length. Bootcamps generally only take a couple of months, whereas a master’s degree takes years. You will sharpen your skills and have hands-on learning experiences in a shorter period of time.
  • Relatively low cost. Bootcamps are less expensive than getting an economics master’s degree. A bootcamp allows you to brush up on the skills you learned in a bachelor’s degree and in your work experience.
  • Industry-based curriculum. Bootcamps are meant to prepare you for a job after graduation. Students learn the current market trends and demands that will make them excel in their desired field.
  • Complement your expertise. A bootcamp allows you to gain knowledge in a specific area, which is beneficial if you already have a bachelor’s degree and work experience. Bootcamps are great for a quick refresh of general concepts.
  • Trending skills. If you have a job opportunity that requires a specific skill, an economics bootcamp covers the latest concepts, issues, and technologies.

Why You Should Get an Economics Master’s Degree Online

You should get an economics master’s degree online if you’re looking to get a master’s degree from home. Studying online saves you the worry of having to pay for room and transportation and gives you some control of the learning process.

Getting a Master’s Degree in Economics online allows you access to different career options in the field of economics. With projects and assignments, students can gain hands-on experience in the use of their analytical skills in solving real-world problems.

What Courses Do You Take in an Online Master’s Degree Program in Economics?

The courses that you take in an online economics master’s degree program include econometrics, experimental economics, statistics, macroeconomic theory, and monetary economics. We’ve included a brief breakdown of each class below.

Econometrics

Understanding finance theories and their applications are critical for any economist or business analyst. The course teaches econometric analysis and its core principles alongside statistical techniques. These skills help students solve real-world data problems.

Experimental Economics

Experimental Economics discusses different methods that economists employ in the study of human behavior to make the right economic decisions. The course usually features practical classes where students have to analyze data generated by one another.

Monetary Economics

This course is designed to help students learn about the methods involved in determining economic policies and phenomena. The course will take students through the construction of several theoretical frameworks as regards monetary policy.

Statistics

A course in statistics teaches statistical methodology. Sub-topics of the course typically include probability, analysis of variance, quantitative methods, statistical analysis, hypothesis testing, and more. For a successful career as an economist or analyst, a solid understanding of statistics is important.

Macroeconomic Theory

This course explores the fundamental concepts of macroeconomic theory. Students will learn how market structure determines the response of a firm. Also, the course teaches how firms and people behave in the marketplace.

Continuing Education Paths for Online Economics Master’s Degree Graduates

An online Master’s Degree in Economics prepares graduates for doctoral degree programs in economics or similar sub-fields. Economics graduates not interested in pursuing further economics or business degree can choose any of the many economist certifications. Popular certification options include Certified Economic Developer (CEcD), Chartered Economist, and Certified Public Accountant (CPA).

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What to Look For in the Best Economics Master’s Degree Programs

The things to look for in the best economics master’s degree programs are accreditation, flexibility, cost, the reputation of the school, and employment outcomes. Read below to discover why these factors are essential when choosing the best online economics master’s degree.

Accreditation

An accreditation means a particular school meets the minimum quality standards to offer the program. So, it’s important to always confirm the master’s degree program’s accreditation status. The accreditation of your school also affects your employability, as employers consider if the program you attended is accredited.

Cost

Whether it’s a public university or a private school, the cost of tuition and other fees is an important consideration to make. Graduate coursework can be expensive, so ensuring that you can afford the program is important for your financial and mental stability. Attending an online school can save you some money at the graduate level.

Reputation of School

If you’re attending an online program, there’s a need to ensure the school has a solid reputation in academia and among employers. That way, you’ll not only learn to solve real-world economic problems but also find the best jobs that allow you do so.

Flexibility

Program flexibility for students is one important thing to look for in graduate economics programs. The delivery method of the courses will determine the flexibility of the program. If you choose online classes, then you can tailor your learning to fit into your schedule.

Employment Outcomes

What are the employment experiences of students that have attended the program? Where do graduates of the program work? Finding answers to these questions can help you decide if you should attend the program or not.

What Is the Most Affordable Online Economics Master’s Degree?

The most affordable online economics master’s program is the Master of Science in Economics at the University of Missouri. It cost $414.60 per credit, and with 30 credits required to complete the program, the total cost will be $12,438.

Can I Get an Economics Master’s Degree Online for Free?

No, you cannot get an economics master’s degree online for free. If you are in a tight financial corner, then you can apply for financial aid if the program is accredited. Alternatively, you can explore different massive open online courses (MOOCs) in economics.

Salary and Job Outlook for Online Economics Master’s Degree Graduates

A young professional analyzing data statistics
The best online economics master’s degrees equip students for long and successful careers in the field.

An online Master’s Degree in Economics is often a huge step toward better salaries and more job opportunities. Graduates usually don’t find it hard to get a job and better still, they can specialize in different areas and work in different industries where their expertise is required. Keep reading to discover the top-paying jobs available to Master’s Degree in Economics graduates.

How Hard Is It to Get a Job With an Economics Master’s Degree?

It is not very hard to get a job with an economics master’s degree. Depending on your professional status and level of experience before enrolling in a master’s degree program, you can land jobs with good salaries and employee perks.

What’s the Average Online Economics Master’s Degree Salary?

The average salary for someone with an online economics master’s degree is $113,000, according to PayScale. Your specific pay will come down to several factors, including job title, years of experience, and other certifications that you possess.

What Jobs Can You Get With an Online Economics Master’s Degree?

The jobs you can get with an online economics master’s degree are budget analyst, financial analyst, market research analyst, operations research analyst, and economist. You can also become a data analyst after completing an economics master’s program online.

Economics Degree Jobs

  • Budget analyst
  • Financial analyst
  • Market research analyst
  • Operations research analyst
  • Economist

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How Much Money Can You Make With an Online Economics Master’s Degree?

You can make between $78,000 and $135,00 with an online economics master’s degree. Salaries vary by role and the specific industry that you are working in. If you are looking for the highest paying online economics master’s degree jobs, then read the following list below.

Highest-Paying Online Economics Master’s Degree Jobs and Salaries: Overview

Economics Master’s Degree Jobs Average Salary
Financial Managers $131,710
Actuaries $105,900
Economists $105,630
Financial Analysts $81,410
Budget Analysts $79,940

Best Jobs for Online Economics Master’s Degree Grads

The best jobs for online economics master’s degree grads are financial managers, actuaries, economists, financial analysts, and budget analysts. There are several other jobs that you can find, but these top jobs offer the best salaries and rewarding careers.

1

Financial Managers

Average Salary: $131,710

Financial managers take on the role of managing the finances of an organization. In addition to analyzing financial data for the best business decisions, they help businesses develop long-term financial plans.

2

Actuaries

Average Salary: $105,900

Actuaries employ mathematics and financial theories to analyze uncertainties and risks. They typically work at insurance companies, designing insurance policies. Actuaries also estimate the economic risks involved in a client suffering loss, sickness, or death.

3

Economists

Average Salary: $105,630

Economists conduct research on economic issues, collate data, conduct surveys, and analyze market trends. Their job revolves around employing economic analysis to solve problems in different industries. By analyzing trends, they can make forecasts on economic policies and decisions.

4

Financial Analysts

Average Salary: $81,410

The role of financial analysts in any business or firm is to ensure the firm makes the right business decisions to make profits. They advise firms on the best investment decisions to make  by evaluating historical financial data. Financial analysts work with a firm’s management team to assess the business’ prospects.

5

Budget Analysts

Average Salary: $79,940

Budgets analysts help both public and private organizations prepare budgets and monitor the implementation of organization’s budgetary processes. In addition, they help organizations explore different funding options to sponsor their projects and plans. They oversee the spending process of various organizations.

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Is an Online Economics Master’s Degree Worth It?

Yes, an online economics master’s degree is worth it. The degree affords you opportunities to land high-paying roles as an economist, financial analyst, or business analyst. In addition, the two-year program prepares you for a doctoral program.

The best online economics master’s programs are convenient, allowing students to complete their master’s degree at a self-determined pace and schedule. With the career outlook of most jobs that you can get with a master’s degree in economics, getting one online is worth it.

Additional Reading About Economics

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Online Economics Master’s Degree FAQ

How long does it take to get a Master’s Degree in Economics with transfer credits?

It takes an average of one year to get a Master’s Degree in Economics with transfer credits. Although the number varies, students can usually transfer between nine and 15 credits, which cuts your study time in half.

Can I get a job with an online Master’s Degree in Economics?

Yes, you can get a job with an online Master’s Degree in Economics. Traditional programs have more reputation, but top universities now offer online degrees in economies. As a result, online degrees are being respected by industry professionals and experts. So, you won’t have so many problems getting a job with an online economics master’s degree.

What are good complementary courses and electives for a Master’s Degree in Economics?

Good complementary courses and electives for a Master’s Degree in Economics include computer science, basic chemistry, math, and linguistics. The great thing about universities is that the curriculum also allows you to choose electives completely outside of your department.

What is the fastest online economics master’s degree program?

The fastest online economics Master’s degree program is the Master of Science in Supply Chain Management offered by Arizona State University. It takes just nine months to complete the program.

About us: Career Karma is a platform designed to help job seekers find, research, and connect with job training programs to advance their careers. Learn about the CK publication.

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Sunday Erhunmwunse

About the author: Sunday is an experienced content writer and passionate educator. His professional interests include coding, data science, and product management. He holds a Doctor of Optometry from the University of Benin.

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