Industry-specific certifications, including economics certifications, can open the door to key career opportunities. Certification candidates can take intermediate courses in business and economics to strengthen their industry skillsets, including analytical and communication skills.
This article will help you figure out which certifications for economics to pursue. In addition to listing the highest paying economics certifications, this article also highlights the specialized skills you can pick up from each certification program, as well as which certification programs give you a distinct advantage in certain career paths.
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What Is a Professional Certification?
Professional certification is a way for professionals to prove that they have a specialized set of knowledge and skills in a specific field. Economics certifications cover a wide range of financial fields, including economic growth, housing development, and insurance.
What’s the Difference Between Certification and a Certificate?
The difference between a certification and a certificate is that a certificate represents a specialized area of knowledge, such as health economics. On the other hand, certification demonstrates that a professional has met industry standards and passed a qualifying exam.
Why Is Certification in Economics Important?
A certification in economics is important because it demonstrates that you are an expert in your field who can adhere to the standards that regulating bodies set forth. In addition, a certification also teaches valuable skill sets that can help you advance your career.
Best Economics Certifications by Salary
| Certification | Provider | Average Salary | Cost |
|---|---|---|---|
| Certified Management Accountant | Institute of Management Accountants | $91,659 | $1,200 |
| Chartered Economist | American Academy of Finance and Management | $88,039 | $325 |
| Certified Economic Developer | International Economic Development Council | $79,000 | $595 (for IEDC members); $825 (fornon-members) |
| Certified Public Accountant | American Institute of Certified Public Accountants | $70,934 | $400 (for AICPA members); $500 (for non-members) |
| Economic Development Finance Professional | National Development Council | $69,000 | $1,575 |
| Certified Income Specialist | Institute of Business Finance | $66,789 | $1,365 |
| Certified International Tax Analyst | Global Academy of Finance and Management | $66,566 | $349 |
| Certified Fund Specialist | Institute of Business Finance | $57,577 | $1,365 |
| Certified Annuity Specialist | Institute of Business Finance | $54,316 | $1,165 |
| Certified Business Economist | National Association of Business Economists | $52,000 | $400 |
Best Economics Certifications to Further Your Career
The Institute of Management Accounts offers a Certified Management Accountant certification that focuses on different topics than a CPA exam. A CMA Certification allows you to work as a corporate financial accountant and perform executive-level duties, like budget analysis.
Certified Management Accountant Overview
- Average Salary: $91,659
- Cost: $280 entrance fee + $920 exam fee
- Requirements: IMA membership, bachelor’s degree or professional certification in a relevant field, two years work experience, completion of CMA exam
- Valid For: 1 year
- Exam Length: 8 hours
- Best Suited For: Accountants with expertise in financial accounting and strategic management
Potential Careers With Certified Management Accountant
The Chartered Economist certification from the American Academy of Finance Management equips you to serve in a leadership role in economics. The five modules integrate group exercises into a study of the key concepts of business economics.
Chartered Economist Overview
- Average Salary: $88,039
- Cost: $325
- Requirements: Industry experience, an economics degree from an accredited institution, completion of Certified Chartered Economist exam
- Valid For: 2 years
- Exam Length: 5 modules
- Best Suited For: Investment banking, insurance, economic policy formulation, actuary studies, and wealth management professionals
Potential Careers With Chartered Economist
The Certified Economic Developer (CEcD) certification exam covers concepts in entrepreneurial and small business development. CEcD status is the highest level of designation in the field of economic development.
Certified Economic Developer Overview
- Average Salary: $79,000
- Cost: $595 for IEDC members, $825 for non-members
- Requirements: Four years of professional experience, six mandatory professional development courses
- Valid For: 3 years
- Exam Length: 3 parts
- Best Suited For: Local or national government employees, economic development organizations, and chamber of commerce members
Potential Careers With Certified Economic Developer
The AICPA aims to make the certification process for certified public accountants (CPAs) as simple as possible by offering tools and resources. A CPA certification represents a uniform certification of all relevant knowledge and resources.
Certified Public Accountant Overview
- Average Salary: $70,934
- Cost: $400 (for AICPA members); $500 (for non-members)
- Requirements: Accounting degree, professional experience, completion of CPA exam
- Valid For: 3 years (may vary by state)
- Exam Length: 4 sections
- Best Suited For: Accountants, undergraduate/graduate students in accounting programs
Potential Careers With Certified Public Accountant
The Economic Development Finance Profession certification from the National Development Council signifies a solid understanding of both fundamental economic concepts and the newest advancements in the field. Certified professionals are skilled in financial analysis and economic planning and development.
Economic Development Finance Professional Overview
- Average Salary: $69,000
- Cost: $1,575
- Requirements: None listed
- Valid For: 3 years
- Exam Length: 4 courses and 4 corresponding exams
- Best Suited For: Local and national government officials, real estate lawyers, and chamber of commerce members
Potential Careers With Economic Development Finance Professional
The Institute of Business Finance offers a Certified Income Specialist certification exam program that provides expertise in wealth distribution. This certification covers a wide range of fields and services such as retirement planning, closed-end funds, and FDIC coverages.
Certified Income Specialist Overview
- Average Salary: $66,789
- Cost: $1,365
- Requirements: Bachelor’s degree or 2,000 hours of work experience
- Valid For: 2 years
- Exam Length: 3 exams and a case study
- Best Suited For: Financial advisors and public accountants
Potential Careers With Certified Income Specialist
A Certified International Tax Analyst certification from the Global Academy of Finance Management focuses on global market analysis and international tax. This certification is meant for board accountants.
Certified International Tax Analyst Overview
- Average Salary: $66,566
- Cost: $349
- Requirements: Graduate-level knowledge of legal and financial matters (recommended)
- Valid For: 1 year
- Exam Length: 3 modules
- Best Suited For: Lawyers, wealth managers, broker and market analysts, and financial controllers
Potential Careers With Certified International Tax Analyst
The Certified Fund Specialist certification offered by the Institute of Business Finance is the fourth-oldest economic designation in the United States. This designation means that financial planners can keep up to date with the latest mutual fund knowledge.
Certified Fund Specialist Overview
- Average Salary: $57,577
- Cost: $1,365
- Requirements: Bachelor’s degree or 2,000 hours of work experience
- Valid For: 2 years
- Exam Length: 3 exams and case study
- Best Suited For: Accountant advisors, money managers, financial planners
Potential Careers With Certified Fund Specialist
A certified Annuity Specialist Certification from the Institute of Business Finance signifies mastery of portfolio theory. The certification covers traditional fixed-rate, equity-indexed, and variable annuities.
Certified Annuity Specialist Overview
- Average Salary: $54,316
- Cost: $1,165
- Requirements: Bachelor’s degree or 2,000 hours of work experience
- Valid For: 2 years
- Exam Length: 3 exams and case study
- Best Suited For: Insurance brokers, financial planners, accountants, and money managers
Potential Careers With Certified Annuity Specialist
The Certified Business Economist certification from the National Association for Business Economists bridges the gap between classroom learning and real-world experience. It emphasizes specialized skill sets and practices over theory.
Certified Business Economist Overview
- Average Salary: $52,000
- Cost: $400
- Requirements: NABE membership, practical exam, four-year degree, two years of work experience, curriculum requirements
- Valid For: 2 years
- Exam Length: 6 sections
- Best Suited For: Economists and economic advisors
Potential Careers With Certified Business Economist
How to Choose the Best Economics Certification for Your Career
When trying to determine the best economics certification program, you should keep your career goals at the front of your mind. Knowing what your goals are will help you as you research career sectors and study reviews for different certification programs.
Determine Your Career Goals
Career goals help you succeed in your profession. You might want to be a financial advisor to local government officials or work in the private sector as an economist. On the other hand, you might want to do something more specialized like tax law or public accounting. Knowing your career path will help you find the best program for you, which will lead to a successful career.
Research Careers That Fit Your Interests
When studying for an economics bachelor’s degree, you will learn more about the sectors that interest you. You don’t want to continue into an industry that doesn’t interest you or a career that won’t hold your attention during training and beyond.
Read Reviews For Certification Programs
Before you commit to a certificate program, you should check out reviews of the programs you’re considering. Certificate programs can vary significantly in terms of time commitments or retake requirements. The industry also values some certifications more than others.
Which Economics Certifications Pay the Most?
The economics certifications that pay the most are Certified Management Accountant, Certified Economic Developer, Chartered Economist, Certified Public Accountant, and Economic Development Finance Professional.
Highest-Paying Economics Certifications
- Certified Management Accountant: $91,659
- Chartered Economist: $88,039
- Certified Economic Developer: $79,000
- Certified Public Accountant: $70,934
- Economic Development Finance Professional: $69,000
Which Economics Certifications Are the Best for Beginners?
The economics certifications that are best for beginners are Certified Public Accountant, Certified International Tax Analyst, and Chartered Economic Policy Analyst. While these certifications require real-world experience alongside a four-year degree, they are less strenuous than other expert-level certifications.
Best College Certificate Programs
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How to Prepare for Your Economics Certification Exam
There are a few ways to prepare for your economics certification exam. Firstly, you can take preparatory courses, which offer lectures, as well as study information and techniques. You can also use study resources that are located online or in books.
Best Courses to Prepare for Economics Certification Exams
Some of the best economics prep courses are offered online by the same groups that offer specific certifications. The curriculum of these courses aligns with what you’ll need to know for the exams. Some prep courses are also offered by universities as continuing education programs.
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- Cost: $1,395
- Duration: 100-125 pre-study hours, 36 lecture hours, 40-60 post-study hours
- Best Suited For: Certified Financial Planner
Dalton Education’s Certified Financial Planner review courses prepare students to take the CFP exam. The program includes 36 hours of live review, followed by a 40 to 60-hour post-study program.
- Cost: $399 (single section) $1,599 (Elite-Unlimited Package)
- Duration: Six or 18 months
- Best Suited For: Certified Public Accountant
UWorld’s Certified Public Accountant review offers downloadable courses that students can review at their own pace. There are also audio lectures and practice tests to help students prepare for the official exam.
- Cost: $1,165
- Duration: 60 hours
- Best Suited For: Insurance broker’s license, Certified Annuity Specialist
The Institute of Business and Finance created the Certified Annuity Specialist certification. This certification program focuses on developing knowledge of annuity contracts, litigation issues, and fixed-rate, equity-indexed, and variable annuities.
- Cost: $1,200
- Duration: 12-18 months
- Best Suited For: Certified Management Accountant
The Institute of Management Accountants offers preparatory courses for their Certified Management Accountant certificate. Students who complete 150-170 study hours and pass the qualifying exam can earn an additional $1,700 per hour of study time over their careers.
- Cost: $8,050
- Duration: 12-24 Months
- Best Suited For: Certified Public Accountant, Certified Finance Manager
The Online Certificate in Applied Accounting at University of California, Irvine - Division of Continuing Education focuses on accounting standards and principles. It is a continuing education program that helps students prepare for the CPA exam.
Other Resources to Prepare for Your Economics Certification Exams
Finding resources for economics exam preparation can be difficult. However, there are many different options you can utilize, such as books, websites, and online groups. In addition, some websites offer a wealth of study resources, including comprehensive prep courses.
EssentialPlus Package for Certified Financial Planner
The EssentialPlus Package offers on-demand, fully asynchronous classes. There are seven courses in the curriculum, and each course covers 22 hours of instruction. Students can take up to 90 days to complete each course and can extend their study to 120 days for an additional fee per course.
EssentialPlus Package for Certified Financial Planner Overview
- Type of Resource: Website
- Cost: $5,151 upfront, $5,593 for course by course
- Ideal For: Financial planners, mutual fund specialists, annuity specialists
Enrolled Agent Bootcamp
The Enrolled Agent Study Course by Fast Forward Academy offers students everything they need to get their Enrolled Agent certification. All students receive access to the online textbook, digital flashcards, IRS publications, practice exams, and video lectures.
Enrolled Agent Bootcamp Overview
- Type of Resource: Website
- Cost: $439 (online course), $519 (smart bundle), $559 (smart bundle + bootcamp)
- Ideal For: Tax analysts
Complete CPA Exam Prep
The CPA Prep from Fast Forward Academy offers textbooks for all four sections of the CPA exam. Some bundles also provide practice exams, online copies of texts, and 80 hours of video lectures.
CPA Exam Prep Overview
- Type of Resource: Website, textbooks
- Cost: $600 (paperback study guide), $839.20 (online course), $1,239.20 (smart bundle)
- Ideal For: Certified public accountants
GACE Economics Test Practice and Study Guide
GACE Economics Test I offers study guides for the GACE Economics Test I exam. These study guides come complete with practice exams, complete transcripts of each lesson, and streaming video lessons that cover the study essentials. There are also flashcards and mobile apps.
GACE Economics Test Practice and Study Guide Overview
- Type of Resource: Website, mobile app
- Cost: $59.99 monthly, $399 annually
- Ideal For: Chartered economists, economic development finance professionals
Khan Academy Economics Courses
Khan Academy offers course resources in macroeconomic and microeconomic theory, finance, and capital markets. These courses cover the basics of each subject, focusing on topics such as supply and demand, stocks and bonds, and basic economic concepts.
Khan Academy Economics Courses Overview
- Type of Resource: Website
- Cost: Free
- Ideal For: Economic analysts, tax analysts, chartered economists
Best Online Courses
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Economics Job Outlook and Average Salary
According to the Bureau of Labor Statistics, the median salary for economists is $105,630. The job outlook for economists is good, with an expected 13 percent rise in career opportunities. Currently, there are around 18,600 jobs in the field, with an expected 2,400 to be added in the near future.
However, little on-the-job training is available, as economists require a high level of education. Most entry-level jobs in economics require at least a master’s degree. Some also require certification and career skills in a specific niche to advance in a chosen career.
Best Economics Jobs After Certification
Finding the best economics jobs after completing your certification program requires a thorough search. The most important thing is to find a role that fits your certification and vice versa. For example, a Certified Economic Developer might look for careers in economic development and community planning.
Economists study the distribution of goods, resources, and services. They research trends, analyze data, and evaluate issues. Most importantly, economists present their findings to help interpret marketing trends and guide clients’ decision-making processes.
Best Certification for the Job Role
Certified Business Economist. Certification as a business economist fills in the gap between economic study and real-world experience.
A regional managing director is responsible for overseeing business operations. They manage the company budget for their geographical area. They approve all expenses and lobby for further funding when necessary.
Best Certification for the Job Role
Economic Development Finance Professional. An Economic Development Finance Professional holds a certification that demonstrates a solid understanding of fundamental concepts and relevant technology skills.
Chartered Financial Analysts help clients and businesses decide how and where to invest their money. First, they assess stock, bond, and investment performances. Then, they use the information to evaluate current and historical financial data.
Best Certification for the Job Role
Chartered Economist. A Chartered Economist certification shows that the holder has a firm understanding of the integration of organizational activities.
Certified Management Accountants serve as a company’s financial managers. They are the point person between the financial department and director-level management on operational, strategic, and budgetary issues.
Best Certification for the Job Role
Management Accountant Certification. The certification focuses on financial accounting and executive-level budget analysis.
Public accountants prepare financial reports and identify growth opportunities for business clients. They suggest ways to enhance revenue and improve profit margins while reducing costs.
Best Certification for the Job Role
Certified Public Accountants Certification. Being a Certified Public Accountant demonstrates a firm understanding of financial education.
Best Economics Associations
Choosing an economic association to belong to is an important step in the process of getting certified. These economic associations offer a unique body of knowledge and prime networking opportunities. Some prominent associations include the American Economic Association, the World Economics Association, and the Society for the Advancement of Economic Theory.
American Economic Association
The American Economic Association has over 20,000 members, half of which are in the academic field. They focus on both commercial and personal economics and offer members professional development credits.
World Economic Association
The World Economics Association focuses on the present and future of economics across the globe. They hold online conferences and publish journals like the World Social and Economic Review. Unlike other associations, you do not have to be a professional in the field of economics to join the WEA.
Society for the Advancement of Economic Theory
The Society for the Advancement of Economic Theory is not just for economics students. It is for anyone interested in the research that connects their field with economic theory. For example, game developers and mathematicians will find exciting connections to game theory through SAET resources.
Are Economics Certifications Worth It?
Yes, economics certifications are worth it because they serve a key role in bridging the education you get from economics classes and professional experience. In addition, each certification program offers valuable skills taught by experts in fields like business economics, economic analysis, and behavioral economics.
Additional Reading About Economics
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Economics Certifications FAQ
Economics classes can be difficult, depending on your education level and where you’re at in your educational or certificate program. Economics majors must have good study habits, analytical and time management skills, and dedication. In addition, choosing the appropriate elective courses can help you navigate your career path.
To get an economics certificate, you must first find out which certificate program fits the field you’re interested in. For example, if you’re interested in accounting, you might enter a CPA certification program. Once in a program, you must complete the coursework and pass the qualifying exam to get a certificate.
Some courses that go well with an economics degree are computer science, law, mathematics, and management. A career in economics requires analytical, psychological, math, and tech skills, so a multidisciplinary plan of study will serve economics majors well.
No, economics is not a useless degree. The skills these courses teach are often useful to potential employers who seek out job candidates with specialized skills. The addition of certification in areas such as behavioral economics can help stand out in the job market.
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