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Online Economics Masters

Enrolling in a master’s in economics may be the best career move you may make in 2014. Forbes Magazine has listed the major in its Top 10 list of the “Best Master’s Degrees for Jobs”.

You can now pursue this degree online as well.

What is economics?

The field of economics combines the principles of business and finance with mathematics in order to develop effective techniques to increase a company’s growth and revenue. It also includes a special focus on the production and delivery of goods and services to consumers. Economists evaluate various factors such as productivity, marketing in order to prepare economic forecasts and predict future financial trends. The principles of economics are applied across all industries including healthcare, manufacturing, education, agriculture, law, energy and transportation.


Why online masters in economics? Why not a traditional masters in economics?

It is a matter of choice really and nothing more. Depending upon which online institute you sign up with, your online course content may exactly be the same as offered to on-campus students. So the quality of content and the degree’s worth along with their effects on your employability may not be an issue.


Online education is more flexible in terms of degree’s completion time period. While traditional master’s degree in economics may need to be completed in 2 years full-time enrollment, online students may complete the same in more than 2 years.

Online students may also login to their course curriculum from anywhere in the world and at the time of their choice. This is why those professionals hoping to earn a master’s degree in economics, may prefer to enroll in online economics courses and programs so that their work schedule remains unaffected along with their family commitments.

While the jury is out on whether an online degree is cheaper than traditional degree, the fact remains that online students save on transportation and accommodation costs etc. Online masters in economics, in short, is a good option worth exploring.

Career options

Another reason that you may want to pursue post-graduate level studies in economics online is the variety of career paths. For starters, and this by no means is an exhaustive list, you may qualify to apply for the following positions:

  • Economists – They evaluate economic issues, research economic trends, collect and analyze economic data for the purpose of studying production and distribution of resources, goods, and services. The Bureau of Labor Statistics (BLS) reported them earning a median yearly salary of $91,860 in 2012. Economists’ positions are expected to grow at the rate of 14% faster than the average growth for all other occupations from 2012 to 2022.

  • Postsecondary economics teachers – The degree may qualify you to apply for a position in academia; teaching economics to college and university students. You may also pursue a career in research, etc. The BLS reports postsecondary economics teachers earning a median yearly salary of $87,950 in 2012. The job outlook for all postsecondary teachers’ positions is encouraging as well with the BLS predicting 19% growth in the sector from 2012 to 2022.

Online Masters in Economics

Why enroll in the degree

  • Learn strong quantitative skills by taking courses in econometrics and other quantitative techniques teaching courses to formulate and estimate economic models.
  • Learn tools to interpret and analyze economic data and apply results to decision-making in public policy and business management settings.
  • Learn how to use quantitative decision-making skills in the global marketplace and/or pursue an advanced degree in economics.


Two academic years (part-time enrollment)

  • Business/Applied Economics
  • Advanced Theory (for those interesting in PhD in economics)

Degree requirements

  • Completion of a total of 14 courses
  • A 30-credit-hour program
  • Completion of basic courses in econometrics and economic theory
  • Completion of special topic courses
  • Completion of supervised independent study

Curriculum requirements (core courses)

  • Intermediate Economics I, II
  • Behavioral Economics
  • Econometrics I, II
  • Financial Econometrics
  • Independent Study
  • International Economics

Advanced Theory concentration courses

  • Economics of Information
  • Advanced Game Theory
  • Mathematical Analysis for Economists
  • Microeconomics Theory I, II, III

Business/Applied Economics

  • Game Theory
  • Personnel Economics
  • Microeconometrics
  • Industrial Economics
  • Accounting and Economics
  • Law and Economics

Admission requirements

Master in Economics degree is an advanced graduate degree, enrollment in which is open to candidates who already hold a bachelor’s degree in economics or a related field. You’ll typically be required to provide the following as a part of the application process:

  • Online application
  • Undergraduate transcripts
  • GRE scores
  • TOEFL (for international applicants)
  • Prior coursework in economics (not required but recommended)

Dual master’s degree in economics and business administration

By learning both economics and management skills, in a shorter period of time, you may only enhance your employability in a competitive work environment. The degree may be completed in 2 years while if you were to pursue them separately, it may take longer. The dual degree may or may not be available online and the admission requirements may also differ from the list mentioned above. Therefore check with the university before making any decision about pursuing a dual degree in economics and another major.



Frequently Asked Question(s)

Q:Can you please tell me what are the contents of the course on Business Analysis in the online Economics Masters program?

A:The Online Economics Masters program in the United States usually offers the course on Business Analysis. This course usually is worth 2 credits in total. It is designed to provide students with strong understanding of the applications of the various algebraic concepts that relate to solving business problems. Students are also given hands on experience.

Q:Can you tell me about online economic masters?

A:A master's degree in economics will help you learn about various concepts of the field such as econometrics, public policy and international economics. You will learn how supply can demand affect the economy and what other factors influence policy-making. Exact degree specifications vary from university to university. The program can take around 2 years to complete from most institutions. Individuals with a degree in economics can look forward to a sufficient variety of career options. Some job positions that can be pursued with this degree are: Actuaries, Budget Analysts, Financial Analysts, Statisticians, and Economists.

Q:How long does it take to do online economic masters?

A:A masters degree in economics typically takes 2 years to complete. Some online schools are offering this degree with shorter time duration. Students can opt for an accelerated degree which can take 12-18 months to complete. On the other hand, if you opt for a part-time masters degree, you can study at your own pace and complete the degree in 2-3 years. You will have to check with the prospective schools to find out what the duration of the program is.

Q:What are the requirements to joining online economic masters?

A:The admission requirements for a masters degree will vary from college to college. The general admission criteria which must be met by applicants is: completion of a bachelor degree, minimum CGPA of 2.5, and a few letters of recommendation. Some graduate schools may also require applicants to pass an enter test. You can check with the prospective schools to find out what the exact admission requirements are.

Q:What jobs do you get after an online economics masters degree?

A:Economics can be defined as the study of production, services, natural resources, and distribution of goods in the economy. Given the wide range it covers, there are many specializations one can pursue as a career. With a specialization of financial economics, one can seek jobs positions such as the following: economists, financial analysts, loan officers, financial examiners, etc. On the other hand, individuals with a specialization in political economics can work as political economists, budget analysts, revenue agents, etc. There are just a few of the career paths available. According to the US Bureau of Labor Statistics, economists made a median annual income $91,860 in 2012 whereas financial analysts made a median annual income of $76,950 in 2012. The income level is will vary from job to job.

Q:Why to take online economic masters degree?

A:According to Forbes Magazine, a master's degree in economics is one of the top 10 degrees for job seekers to have. The entry level education required for an economist is a master's degree. A master's degree in economics can open up a wide array of career options for you in business, political and academic sectors. Both government and non-government organizations require individuals with a sound understanding of basic economic concepts. Economists are capable of understanding mass scale events such as changing government regulations and their effects on businesses, inflation, supply and demand of resources, etc. According to the US Bureau of Labor Statistics, economists made a median annual income of $91,860 in 2012. If you don’t have the time or resources to pursue this degree at a campus, you can opt for an online program. This mode of learning will allow you to study according to your own schedule and free-time. (Source: Forbes Magazine and The US Bureau of Labor Statistics)

Q:What you can do withOnline Economics Masters?

A:With a master in economics, you can go into several career directions. Here are a few job positions: Economist, Financial Manager, Management Analyst, Personal Finance Advisor, and more.This is not an exhaustive list. The income level will vary from job to job. A master in economics opens up many opportunities for individuals.

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