Best Online Master’s in Economics 2021
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Money may make the world go round, but the world needs economists to understand how to manage it.
Students in Master’s in Economics degree programs receive valuable analytical and quantitative training in the field of economics necessary to success in a variety of professional roles. Graduates have the opportunity to become a leader or analyst in banking, investment and wealth management, international finance and economics, corporate financial management, and in a variety of other sectors. Some graduates go on to acquire a Ph.D. in Economics to become a university professor or research economist.
A traditional Master’s in Economics program does not work for all students, however; online programs may better suit the needs of busy individuals with full–time jobs or familial obligations. This article ranks the 15 best online Master’s in Economics degrees available today.
The Best Online Master's in Economics Programs
A public research university founded in 1906, Georgia Southern offers an online master of science in applied economics. Students complete the two-year degree entirely online with a fall and spring start date.
Required courses include math for applied economics, microeconomics, and macroeconomics. Students then choose from electives like the history of economic thought or regional economic development.
Applicants need a bachelor's degree with a minimum GPA of 3.0 to qualify for admission. Students must also submit GRE scores. The school allows students to transfer up to six credits toward their degree.
A public university founded in 1869, Purdue offers an online master of science in economics. Students may choose from four concentrations: business and data analytics, financial economics, public economics and policy, and advanced theory.
The 30-credit program includes courses such as principles of statistical analysis, mathematical economics, microeconomics, and macroeconomics. Students then take courses within their chosen concentration to satisfy degree requirements.
Students need a bachelor's degree in any discipline to qualify for admission. The school does not require students to submit standardized test scores.
A public research university founded in 1883, UND offers an online master of science in economics. Students complete 30 credits in an average of two years.
Learners take courses such as economic forecasting, demographic methods for economists, quantitative methods for impact evaluation and causal inference, and international money and finance. Students also receive training in modern economics methods such as data analysis.
Applicants need a bachelor's degree to qualify for admission. Students must also submit GRE scores to apply.
A public university founded in 1839, Mizzou offers an online master of arts in economics. Students complete 30 credits in two years by taking just two courses per term.
Required courses include introductory economics, qualitative economics, microeconomic theory, or macroeconomic theory. Students then choose five electives to further specialize their knowledge in topics such as game theory, international trade, and banking.
Applicants need a bachelor's degree with a minimum GPA of 3.0 in the last 60 credits of undergraduate work to qualify for admission. The school does not require students to submit GRE scores.
A private research university founded in 1893, AU offers an online master of arts in economics with a specialization in applied economics. Students can complete the program in just 20 months.
Core courses include an introduction to mathematical economics, microeconomic theory, applied econometrics, and macroeconomic theory. A capstone completes degree requirements and provides opportunities for deeper exploration. Students also receive training in data analysis for the economics field.
Applicants need an undergraduate degree from an accredited institution to qualify for admission.
Online Master's in Economics Programs Ranking Guidelines
We ranked these degree programs based on quality, curricula, school awards, rankings, and reputation.
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While specific criteria under consideration can vary by ranking, there are a few data points that we value most highly. They are affordability, academic quality, and online enrollment. Below, we break down our algorithm to help you understand what you're getting when you use one of our rankings.
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Breakdown of Our Rankings Methodology
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Featured Online Master's in Economics Programs
What is a Master’s in Economics Degree?
Master’s in Economics degrees come in a variety of forms, including a Master’s of Science, Master’s of Arts, and Master’s of Business Administration programs. While each comes with unique qualities and concerns, all provide a strong grounding in core principles of economics. The curricula for these programs typically include coursework in economic theories, econometrics, financial analysis, statistics, mathematics, and implementing economic research. Some programs may include field experience or capstone components.
An MA in Economics may place greater emphasis on the research and theoretical aspects of economics, preparing students for careers in research or academic roles. An MS in Economics typically utilizes a more technical and practical approach, focusing on the application of economic principles in real–time, and preparing students for active careers in the public or private sectors. An MBA program treats economics as a specialization on top of core MBA coursework. Students in MBA programs engage with fundamental business administration concepts, alongside specialized courses in economic principles and practices, to prepare for leading economic roles in corporations and financial institutions.
How Long Does it Take to Complete an Online Master’s in Economics Degree?
Like most master’s degree programs, a Master’s in Economics degree typically takes two years to complete. However, some schools offer accelerated programs that may be completed in as quickly as one year, and some offer part–time programs that may be completed in three to six years.
Master’s in Economics Degree Careers
Individuals holding a Master’s in Economics degree may pursue a variety of careers, including:
- Actuary
- Compensation and benefits manager
- Credit analyst
- Data scientist
- Econometrician
- Economic consultant
- Economist
- Financial analyst
- Financial manager
- Lawyer
- Management consultant
- Market researcher
- Policy analyst
- Professor
- Statistician
Master’s in Economics Degree Salary
According to the Bureau of Labor Statistics, in 2016 economists saw a median annual salary of $101,050. The following information portrays median annual salaries earned by economists in their top five industries for employment:
| Career | Median Salary |
|---|---|
| Finance and insurance | $124,660 |
| Federal government, excluding postal service | $111,310 |
| Management, scientific, and technical consulting services | $110,900 |
| Scientific research and development services | $102,000 |
| State government, excluding education and hospitals | $69,170 |
Master’s in Economics Job Outlook
The Bureau of Labor Statistics predicts the job field for economists will grow from 2016–2026 at a rate of 6%, as fast as average for all other occupations
Economics Professional Organizations
Header Image Credit: Thomas Barwick | Getty Images
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