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If you have a passion for finance and data analysis and want to play a part in solving economic issues, you may be interested in the best economics master’s degrees. Economics majors work in various sectors like the government, education, financial institutions, health, business, and international organizations. Master’s Degrees in Economics let you achieve higher-level jobs and career paths.
In this article, you will find a comprehensive overview of the best Master’s Degrees in Economics. Top universities offer accredited degrees that teach beyond advanced concepts in economics. Economics master’s degree programs help you improve your analytical skills, master statistical software, and learn how to effectively use data analysis tools.
What Is Economics?
Economics is a social science that deals with value in the form of products, services, and money. Courses in economics study production from resources, distribution, and consumption by society. Economics covers topics like employment, land, currency inflation, economy, policies, and investment.
Economics is the study of economic resources, and how and why they are created, produced, and used. In economics, you will usually learn how to solve problems related to unemployment, the environment, inflation, inequality, market failures, and national wealth distribution.
Generally, the way these problems are solved is by identifying the economic decisions made in a company or society, and then informing the organizations and governments on how they can improve their decision-making.
Where Can I Get a Master’s Degree in Economics?
Some of the colleges where you can get a Master’s Degree in Economics include Johns Hopkins University, University of Illinois Urbana-Champaign, Ohio State University, and the University of Southern California.
What Schools Offer the Best Economics Master’s Degrees?
- Johns Hopkins University
- University of Illinois Urbana-Champaign
- Ohio State University
- University of Southern California
- Georgetown University
What Are the Admission Requirements for a Master’s Degree in Economics?
Some common requirements for a Master’s Degree in Economics include a bachelor’s degree, previous transcripts, and GRE test scores. You will need to have previous exposure to economics, calculus, linear algebra, statistics, and finance. Other Master’s in Economics requirements may include a statement of purpose, letters of recommendation, and proof of English competency.
Economics Master’s Degree Admission Requirements
- 1-3 letters of recommendation
- Statement of purpose
- Bachelor’s degree
- GPA of 3.0
- GRE test scores
How to Get a Master’s Degree in Economics
You can get a Master’s in Economics by enrolling in a program and meeting the credit requirements. You may need to maintain a GPA of at least 3.0. Some programs may require students complete a thesis or a capstone project.
How Many Credits Do You Need for a Master’s Degree in Economics?
You need between 30 and 35 credits for a Master’s Degree in Economics. This usually takes between one and two years. If you enroll in an economics master’s degree program part-time, it may take you longer than two years to graduate.
Economics Degree Requirements
- GPA of at least 3.0
- 15-25 core credits
- 5-15 elective credits
- Completion of a thesis (if required)
Best Economics Master’s Degree Programs and Schools: Overview
| School | Program | Accreditation |
|---|---|---|
| American University | Master of Arts in International Economics | Middle States Commission on Higher Education (MSCHE) |
| Clemson University | Master of Arts in Economics | Southern Association of Colleges and Schools Commission on Colleges (SACSCOC) |
| Georgetown University | Master of Arts in Applied Economics | Middle States Commission on Higher Education (MSCHE) |
| Johns Hopkins University | Master of Science in Applied Economics and Certificate in Investments | Middle States Commission on Higher Education (MSCHE) |
| Ohio State University | Master of Applied Economics | Higher Learning Commission (HLC) |
| University of Delaware | Master of Arts in Economics and Entrepreneurship for Educators | Middle States Commission on Higher Education (MSCHE) |
| University of Illinois Urbana-Champaign | Master of Science in Policy Economics | Higher Learning Commission (HLC) |
| University of Southern California | Master of Science in Applied Economics and Econometrics | Western Association of Schools and Colleges (WASC) |
| University of Texas at Austin | Master of Arts in Economics | Southern Association of Colleges and Schools Commission on Colleges (SACSCOC) |
| University of Wyoming | Master of Science in Economics | Higher Learning Commission (HLC) Association to Advance Collegiate Schools of Business (AACSB) |
Best Schools for Economics: Top Economics Master’s Degree Programs
The best schools for a Master’s Degree in Economics offer accredited programs that will help you gain a wide range of critical skills and a comprehensive understanding of economics to excel in your chosen career. Below is a detailed list of some of the best economics master’s programs.
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American University | Washington DC
American University is a private research university known for its diverse student body. It offers online and in-person bachelor’s, master’s, and doctoral degrees in its eight different schools. American University was founded in 1893 and has around 14,000 enrolled students.
Master of Arts in International Economics
This program exposes students to international economics, public policy, trade, economic development, and finance. Students learn to apply theoretical concepts, research methods, mathematical tools, and econometrics to the global market and economic issues and policies.
Master of Arts in International Economics Overview
- Accreditation: Middle States Commission on Higher Education
- Tuition: $1,812/credit
- Required Credits: 39 credits
- Program Length: 2 years
- Learning Format: In person
- NCES School Graduation Rate: 79%
Master of Arts in International Economics Admission Requirements
- GPA: 3.3
- Standardized Tests: GRE scores
- Application Fee: $55
- Minimum Education: Bachelor’s degree
- Other Requirements: Statement of purpose, transcripts, 3 letters of recommendation, resume
Applying to American University
- Create an account and fill out the online application form.
- Pay the application fee.
- Provide all the required application materials.
- Wait for a decision from the school.
Clemson University | Clemson, SC
Clemson University is a public research university that was founded in 1889. It offers over 80 undergraduate majors and 130 graduate degree programs to its 26,400 students. Clemson University is the second-largest in South Carolina.
Master of Arts in Economics
This is a flexible program offering both a thesis and non-thesis learning pathway which can be completed in as little as 12 months. The curriculum teaches economic theory, data analysis tools, statistical analysis, and government policy. Clemson University also offers a Master of Science in Economic Analytics. Graduates learn skills that can be applied to diverse fields including private and government institutions.
Master of Arts in Economics Overview
- Accreditation: Southern Association of Colleges and Schools Commission on Colleges
- Tuition: Visit the school’s website for a tuition calculator
- Required Credits: 30 credits
- Program Length: 1 year
- Learning Format: In person
- NCES School Graduation Rate: 85%
Master of Arts in Economics Admission Requirements
- GPA: No minimum requirements
- Standardized Tests: GRE scores
- Application Fee: $80
- Minimum Education: Bachelor’s degree
- Other Requirements: Personal statement, resume, letters of recommendation, transcripts
Applying to Clemson University
- Review the requirements for your chosen program.
- Apply online using ApplyWeb.
- Pay the application fee.
- Provide all the required supplementary materials.
- Check your account for updates regarding your application.
Georgetown University | Washington DC
Georgetown University is a private Catholic research university best known for its global affairs and public policy programs. It was founded in 1789, making it the oldest Catholic university in the nation, and it has over 19,300 enrolled students.
Master of Arts in Applied Economics
The focus of this program is the application of economics in the modern world. The curriculum covers both advanced macroeconomics and microeconomic theories. Students learn to apply data analysis, quantitative methods, statistical tools, and mathematical models for economic analysis and computations.
Master of Arts in Applied Economics Overview
- Accreditation: Middle States Commission on Higher Education
- Tuition: $2,358/credit
- Required Credits: 30 credits
- Program Length: 1-2 years
- Learning Format: In person
- NCES School Graduation Rate: 95%
Master of Arts in Applied Economics Admission Requirements
- GPA: 3.0
- Standardized Tests: GRE scores
- Application Fee: $90
- Minimum Education: Bachelor’s degree
- Other Requirements: Statement of purpose, 3 recommendations, transcripts, resume
Applying to Georgetown University
- Review the academic requirements for your chosen program.
- Pay the application fee.
- Fill out an online application.
- Provide the required documentation.
- Wait for a response from the school.
Johns Hopkins University | Baltimore, MD
Johns Hopkins University is a private research institution that was founded in 1876. It is known for its innovative medical research. Johns Hopkins University has nine academic divisions and offers a wide range of undergraduate and graduate degrees to its 28,800 enrolled students.
Master of Science in Applied Economics and Certificate in Investments
This program gives a graduate certificate in addition to a master’s degree over 15 courses. Students are equipped with economic theories, analytical skills, empirical skills, and data analysis methods. Business and social sciences courses come together in this program by John Hopkins to boost a career in diverse fields.
Master of Science in Applied Economics and Certificate in Investments Overview
- Accreditation: Middle States Commission on Higher Education
- Tuition: $1,730/credit
- Required Credits: 30 credits
- Program Length: 1-3 years
- Learning Format: In person, online, hybrid
- NCES School Graduation Rate: 95%
Master of Science in Applied Economics and Certificate in Investments Admission Requirements
- GPA: No minimum requirement
- Standardized Tests: GRE scores
- Application Fee: $75
- Minimum Education: Bachelor’s degree
- Other Requirements: Statement of purpose, transcripts, letters of recommendation
Applying to Johns Hopkins University
- Review the required academic background for your chosen program.
- Fill out an online application.
- Pay the application fee.
- Provide the required documentation.
- Wait for a response from the school.
Ohio State University | Columbus, OH
Ohio State University is a public research institution that offers 277 undergraduate and graduate degrees and programs. Ohio State University was founded in 1870 and has one of the largest campuses in the nation.
Master of Applied Economics
This is a brief program over two semesters to prepare professionals for a career in the finance and business fields. The curriculum emphasizes hands-on experience, critical thinking, analytical skills, quantitative skills, and problem-solving. Graduate students learn to use statistical software and models including Stata, Matlab, R, and SAS.
Master of Applied Economics Overview
- Accreditation: Higher Learning Commission
- Tuition: $722/credit (in state); $1,622/credit (out of state)
- Required Credits: 30 credits
- Program Length: 2 semesters
- Learning Format: In person
- NCES School Graduation Rate: 88%
Master of Applied Economics Admission Requirements
- GPA: 3.1
- Standardized Tests: GRE scores (optional)
- Application Fee: $60
- Minimum Education: Bachelor’s degree
- Other Requirements: Undergraduate coursework in microeconomics, calculus, and statistics, statement of purpose, resume, 3 recommendations, transcripts
Applying to Ohio State University
- Review the requirements for your chosen program.
- Pay the application fee.
- Fill out an online application.
- Provide the required documentation.
- Wait for a decision from the school.
University of Delaware | Newark, DE
University of Delaware is a public research institution that was founded in 1743. The school offers doctoral, master’s, bachelor’s, and associate degree programs to over 23,600 enrolled students.
Master of Arts in Economics and Entrepreneurship for Educators
This economics program is designed for students who want to pursue a career in academia and teach students in economics, entrepreneurship, finance, and business. The instruction comes in a hybrid format where students take part in the course online while some courses are taken on campus. This is an interdisciplinary program that brings education and economics together.
Master of Arts in Economics and Entrepreneurship for Educators Overview
- Accreditation: Middle States Commission on Higher Education
- Tuition: $950/credit
- Required Credits: 30 credits
- Program Length: 2 years
- Learning Format: Hybrid
- NCES School Graduation Rate: 82%
Master of Arts in Economics and Entrepreneurship for Educators Admission Requirements
- GPA: 3.0
- Standardized Tests: No requirements
- Application Fee: $75
- Minimum Education: Bachelor’s degree
- Other Requirements: 3 semesters of economics, transcripts, resume, personal statement, 3 letters of recommendation
Applying to University of Delaware
- Review the deadlines and requirements for your program.
- Pay the application fee.
- Fill out an online application.
- Provide all the required application materials.
- Wait for a decision from the school.
University of Illinois Urbana-Champaign | Champaign, IL
University of Illinois Urbana-Champaign is a public research university with a robust Greek system and over 1,600 student organizations. This school was founded in 1867 and has over 52,600 enrolled students.
Master of Science in Policy Economics
This is a STEM-designated program that covers core courses in econometrics, microeconomics, macroeconomics, and economic statistics. The school offers diverse courses for specialization in development, labor, law, monetary, public, international, and industrial economics. Students have the flexibility to complete their master’s degree in one to two years or follow a PhD track.
Master of Science in Policy Economics Overview
- Accreditation: Higher Learning Commission
- Tuition: $16,200/semester
- Required Credits: 40 credits
- Program Length: 1-2 years
- Learning Format: In person
- NCES School Graduation Rate: 85%
Master of Science in Policy Economics Admission Requirements
- GPA: No minimum requirements
- Standardized Tests: GRE score
- Application Fee: $70
- Minimum Education: Bachelor’s degree
- Other Requirements: Transcripts, personal statement, letters of recommendation
Applying to University of Illinois Urbana-Champaign
- Review the requirements for your chosen program.
- Pay the application fee.
- Fill out the online application.
- Submit all the required application materials.
- Wait for a decision from the school.
University of Southern California | Los Angeles, CA
University of Southern California was founded in 1880, making it the oldest private research university in California. This school is known for its prestigious academic programs and impressive athletic teams. USC has over 46,200 enrolled students.
Master of Science in Applied Economics and Econometrics
This is a STEM-designed program with coursework in economics and specialization in six areas in the field of economics. The tracks include behavioral economics, health economics, big data economics, financial economics, economic policy and development, and economics consulting. Students can pursue a PhD program after graduation.
Master of Science in Applied Economics and Econometrics Overview
- Accreditation: Western Association of Schools and Colleges
- Tuition: $42,740/academic year (full-time) $25,644/academic year (part-time)
- Required Credits: 32 credits
- Program Length: 1.5 years
- Learning Format: In person
- NCES School Graduation Rate: 92%
Master of Science in Applied Economics and Econometrics Admission Requirements
- GPA: No minimum requirements
- Standardized Tests: GRE scores
- Application Fee: $90
- Minimum Education: Bachelor’s degree
- Other Requirements: Previous microeconomics, macroeconomics, and econometrics course, statement of purpose, transcripts, 3 letters of recommendation
Applying to University of Southern California
- Review the requirements and deadlines for your chosen program.
- Fill out an online application and pay the application fee.
- Provide your standardized test scores.
- Submit the additional application requirements.
- Wait for a response from the school.
University of Texas at Austin | Austin, TX
University of Texas at Austin is a public research university that was founded in 1883. It offers over 170 fields of study and 12 different colleges and schools. The University of Texas at Austin has over 50,000 enrolled students.
Master of Arts in Economics
This graduate degree has three available tracks based on the time to complete the degree, making it easier for students to choose their own pace of study. The program has a STEM designation opening up opportunities for research, further study, and employment. They work with policies, data analysis, legislation, banking, and financing.
Master of Arts in Economics Overview
- Accreditation: Southern Association of Colleges and Schools Commission on Colleges
- Tuition (and Fees): $7,500/semester (in state); $10,000/semester (out of state)
- Required Credits: 30 credits
- Program Length: 1 year
- Learning Format: In person
- NCES School Graduation Rate: 88%
Master of Arts in Economics Admission Requirements
- GPA: No minimum requirements
- Standardized Tests: GRE scores
- Application Fee: $65
- Minimum Education: Bachelor’s degree
- Other Requirements: Transcripts, 3 letters of recommendation, statement of purpose, resume
Applying to University of Texas at Austin
- Ensure you meet the requirements for your chosen program.
- Pay the application fee.
- Fill out an online application.
- Submit all required documentation.
- Wait for a decision from the school.
University of Wyoming | Laramie, WY
University of Wyoming is a public research university that was founded in 1886. The school offers over 200 areas of study, including a range of undergraduate and graduate students. University of Wyoming has over 11,800 enrolled students.
Master of Science in Economics
This program prepares professionals for economic careers and doctoral programs. Wyoming provides excellent faculty, an experimental economics lab, and opportunities to network in the field. Students develop analytical and data analysis skills to solve economic problems.
Master of Science in Economics Overview
- Accreditation: Higher Learning Commission, Association to Advance Collegiate Schools of Business
- Tuition (and Fees): $7,182/academic year (in state); $18,324/academic year (out of state)
- Required Credits: 30 credits
- Program Length: 2 years
- Learning Format: In person
- NCES School Graduation Rate: 60%
Master of Science in Economics Admission Requirements
- GPA: 3.0
- Standardized Tests: GRE scores
- Application Fee: $50
- Minimum Education: Bachelor’s degree
- Other Requirements: Statement of purpose
Applying to University of Wyoming
- Look into the requirements for your chosen program.
- Pay the application fee.
- Fill out an online application.
- Provide all the required documentation.
- Await a decision from the school.
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What Is an Economics Master’s Degree?
A Master’s Degree in Economics is a two-year advanced degree that will help you advance your statistical and data analytical expertise. It allows you to apply your economic knowledge and logical thinking to propose better solutions to organizations and businesses. An economics master’s degree opens up many career opportunities to become economists, financial advisors, financial managers, consultants, analysts, or managers.
Colleges and universities will offer a Master of Science or a Master of Arts degree in Economics, Applied Economics, or other branches of economics. Some students pursue a degree in business administration with a concentration in economics. All programs cover the subdivisions of macroeconomics and microeconomics to different extents.
How Important Is a Master’s Degree in Economics?
A Master’s Degree in Economics is important if you want to progress in your career or gain specialized knowledge in the field. One reason why an economics master’s degree is important is that it will allow you to negotiate a higher salary. Most entry-level roles require a bachelor’s degree, so gaining an advanced degree will help you stand out from the competition as you apply for high-level jobs.
What Types of Master’s Degree Can You Get in Economics?
You can get the following types of Master’s Degrees for Economics:
- Master of Arts
- Master of Science
The best degree type for economics is a Master of Science if you want a program that focuses on mathematical skills. A Master of Arts will cover analytical and technical skills as well as arts and humanities.
Is It Better to Get a Master of Arts or a Master of Science in Economics?
It is better to get a Master of Science in Economics if you are looking to work in a scientific or technical role. A Master of Arts can also provide a comprehensive education and may be the better choice depending on your career goals.
What Is the Difference Between an Economics Master’s Degree and an Economics Certificate?
The main difference between an economics master’s degree and a certificate in economics is that a certificate program will take less time to complete and will provide a less comprehensive education. An economics certificate will usually consist of around four courses and will deepen your knowledge of a specific topic.
You should get a Master’s Degree in Economics instead of an economics certificate if you have the time and resources because it will look better on your resume and ensure you are qualified for advanced roles.
How Much Does It Cost to Get a Master’s Degree in Economics?
An economics master’s degree costs around $19,792, according to the National Center for Education Statistics. On average, a Master’s in Economics costs more at a private school than a public institution. In many cases, the university website publishes the total cost of the program or the cost per credit.
How Long Does It Take to Get an Economics Master’s Degree?
It usually takes between one and two years to get a Master’s Degree in Economics. Most programs require students to complete between 30 and 40 credits. Your Master’s in Economics length will depend on how many credits you take per term and whether you enroll in your degree part-time or full-time.
How Hard Is It to Get a Master’s Degree in Economics?
An economics master’s degree is hard to get because the math and statistics skills required are much more advanced than you’ll need for a bachelor’s degree. Many students find getting an economic master’s degree is hard, especially if they don’t have extensive experience in the field.
Why Should You Get an Economics Master’s Degree?
You should get an economics master’s degree if you want to land advanced roles in your field or negotiate a higher salary. One of the benefits of a Master’s Degree in Economics is that you will have the chance to learn more specialized and advanced training that can help you excel in your chosen career.
What Courses Do You Need to Take in a Master’s Degree Program in Economics?
Common Master’s in Economics courses cover essential skills like microeconomics, macroeconomics, and international financial relations. Your Master’s in Economics course list will also include a variety of elective options.
Microeconomics
Microeconomics refers to the study of how individual decisions and single factors affect the allocation of scarce resources. An advanced microeconomics course will cover areas including the theory of demand, different market structures, and the theory of resource allocation.
Macroeconomics
Macroeconomics consists of the study of large-scale economic factors. The curriculum may cover theories of income determination, unemployment, and inflation. Students will analyze fiscal policies and debt dynamics.
International Financial Relations
In this graduate-level course, students will study the history and evolution of the international monetary system. The curriculum will cover global conflicts and analyze the management of international financial crises.
Data Analysis
Strong data analysis skills are essential for any economist. This sort of course will train students to carry out their own empirical research. They will learn how to use statistical software and gain hands-on experience through research projects.
Econometrics
Econometrics refers to the use of statistical tools to identify economic relationships. An econometrics course will train students in the skills and tools they need to analyze economic data. They may learn about the linear regression model, instrumental variables, and discrete choice modeling.
Continuing Education Paths for Economics Master’s Degree Graduates
The best continuing education path to take with an economics master’s degree is to go on to earn a Doctoral Degree in Economics. This will qualify you for research-based roles. A PhD can also help you become a university professor.
Related Economics Degrees
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What to Look For in the Best Economics Master’s Degree Programs
The best economics master’s degree programs will prepare you with all the hard and soft skills you need to succeed in your dream job. There are many programs to choose from, so if you are wondering what to look for in a college for a Master’s Degree in Economics, check out our list of potential criteria below.
Accreditation
Accreditation is an essential factor to consider as you go about your school search. Accreditation proves that an institution meets a high level of educational standards. Potential employers may not respect your master’s degree if you don’t attend an accredited school.
Cost
Regardless of the school you choose to attend, gaining a graduate education can be costly. Make sure you look beyond tuition charges and confirm what additional fees you will be responsible for. In most cases, attending a public school is a cheaper option than private or for-profit schools.
Flexibility/Format
Many schools offer remote or hybrid master’s degree programs. If you want to attend school and work at the same time, you might find an online program is easier to fit into your schedule. You should also decide if you want to study part-time or full-time and choose a school that best fits your learning style.
Barriers to Admission
Some schools that offer Master’s Degrees in Economics require students to have experience in the field or impressive credentials. Look into the academic requirements for your chosen schools and make sure you fit all the criteria for the best chance of being accepted.
Curricular Content
Students with a Master’s Degree in Economics can work in a wide variety of fields. If you already have a job in mind, look into the curricular content and elective options of your chosen schools to ensure you choose a program that best fits your career path. Some schools may offer concentration or specialization options that can help you dive deeper into the specific field that interests you.
What Is the Most Affordable Economics Master’s Degree?
The most affordable Master’s Degree in Economics on our list is offered by Ohio State University, where in-state students pay $722 per credit. Other affordable economics master’s degree programs are offered by the University of Texas at Austin and the University of Wyoming.
Salary and Job Outlook for Economics Master’s Degree Graduates
Economics master’s degree jobs span several fields. Below, we cover some of the best careers for students after they graduate. We also provide details about the Master’s in Economics salary, job outlook, and highest-paying states.
How Hard Is It to Get a Job With an Economics Master’s Degree?
It is not usually hard to get a job with a Master’s Degree in Economics. The advanced analysis and statistical skills you’ll learn in these programs will prepare you for several high-paying roles. These are transferable skills, and gaining a master’s degree will help set you apart from most professionals in the field.
What’s the Average Economics Master’s Degree Salary?
The average salary for a Master’s Degree in Economics grad is $113,000, according to PayScale. Keep in mind that your salary will depend on several factors, including your location, level of experience, and job title.
What Types of Jobs Can You Get With an Economics Master’s Degree?
The jobs you can get with an economics master’s degree include financial advisor, budget analyst, and sociologist. Some of the highest-paying economics jobs for master’s degree holders include political scientist and economist.
Economics Degree Jobs
- Political scientist
- Economist
- Financial advisor
- Budget analyst
- Sociologist
Potential Careers With an Economics Degree
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How Much Money Can You Make With a Master’s Degree in Economics?
You can make between $62,000 and $122,000 with a Master’s Degree in Economics. In general, economics master’s degree grads are able to make impressive salaries. Your annual wage will depend on your specific field and relevant experience.
Highest-Paying Economics Master’s Degree Jobs and Salaries: Overview
| Economics Master’s Degree Jobs | Average Salary |
|---|---|
| Political Scientists | $122,510 |
| Economists | $105,630 |
| Economics Professors | $104,940 |
| Financial Advisors | $94,170 |
| Sociologists | $92,910 |
| Budget Analysts | $79,940 |
| Insurance Underwriters | $76,390 |
| Social and Community Service Managers | $74,000 |
| Market Research Analysts | $63,920 |
| Survey Researchers | $62,410 |
Best Jobs for Economics Master’s Degree Grads
The best jobs for a Master’s in Economics graduate include political scientist and economist. These roles come with an impressive salary and opportunities for advancement. Below, we provide detailed information about the best jobs you can get with an economics master’s degree.
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Political Scientist | Average Salary: $122,510
Political scientists often have a background in economics with concentrations in policy-making, social work, and labor laws. They have a portfolio of experiences in political science and public administration.
- Average Salary: $122,510
- Job Outlook: 9% job growth from 2020 to 2030
- Number of Jobs: 7,000
- Highest-Paying States: Virginia, Michigan, Maryland
Economist | Average Salary: $105,630
Economists are experts in economic trends, issues, and solutions. They collect data, perform analysis, and present forecasts or recommend solutions. They work in banks, government agencies, research firms, or multinational business companies.
- Average Salary: $105,630
- Job Outlook: 13% job growth from 2020 to 2030
- Number of Jobs: 18,600
- Highest-Paying States: New York, Washington DC, California
Economics Professor | Average Salary: $104,940
Economics professors share their interest in economics with postgraduate students. This is an academic occupation where they can also carry out research work. Part of the job is also to design or assist in developing the curriculum and lesson plans. They support innovative student projects and research initiatives of the educational institution.
- Average Salary: $104,940
- Job Outlook: 12% job growth from 2020 to 2030
- Number of Jobs: 1,276,900
- Highest-Paying States: New Hampshire, Montana, California
Financial Advisor | Average Salary: $94,170
These experts consult and advise business professionals and managers to make financial, accounting, and business decisions. They are familiar with statistical models and predictive models for decision-making. They might use historical data for their recommendations, perform risk assessments, and make recommendations for financial investments and goals.
- Average Salary: $94,170
- Job Outlook: 5% job growth from 2020 to 2030
- Number of Jobs: 275,200
- Highest-Paying States: New York, Washington DC, Washington
Sociologist | Average Salary: $92,910
Sociologists are experts in social behaviors and study societies and societal problems. They do extensive research and data analysis to find patterns in human behaviors and usually have strong analysis and presentation skills.
- Average Salary: $92,910
- Job Outlook: 5% job growth from 2020 to 2030
- Number of Jobs: 3,000
- Highest-Paying States: Illinois, North Carolina, California
Budget Analyst | Average Salary: $79,940
Budget analysts provide statistics and analyses related to budgets. They share useful information about previous budgets and support the development of newer ones. They conduct research from financial documents, research, and reports.
- Average Salary: $79,940
- Job Outlook: 5% job growth from 2020 to 2030
- Number of Jobs: 52,500
- Highest-Paying States: Washington DC, Maryland, Virginia
Insurance Underwriter | Average Salary: $76,390
Insurance underwriters assess insurance applications. They assess the risks involved and determine the conditions. They often specialize in the different types of insurance policies. These professionals are familiar with accounting and financing concepts.
- Average Salary: $76,390
- Job Outlook: -2% job growth from 2020 to 2030
- Number of Jobs: 119,400
- Highest-Paying States: Washington DC, New York, Delaware
Social and Community Service Manager | Average Salary: $74,000
Social and community service managers manage social services departments and teams in community halls, social work organizations, and social government institutions. Coursework in behavioral economics is helpful for this position. They have good oral communication skills, documentation management skills, and know-how to handle sensitive situations with clients.
- Average Salary: $74,000
- Job Outlook: 15% job growth from 2020 to 2030
- Number of Jobs: 147,200
- Highest-Paying States: Washington DC, New Jersey, Rhode Island
Market Research Analyst | Average Salary: $63,920
This is a research-centric job that studies sales, marketing, and economic trends. Market research analysts gather data through different methods to generate business reports, forecast market trends, and help to improve business strategies.
- Average Salary: $63,920
- Job Outlook: 22% job growth from 2020 to 2030
- Number of Jobs: 740,900
- Highest-Paying States: Washington, Delaware, New York
Survey Researcher | Average Salary: $62,410
Survey researchers design and conduct surveys and questionnaires to collect data for analysis. Their work helps to make strategic and problem-solving policies. They are familiar with data collection methods and create graphs, images, and other visual mediums to display their findings.
- Average Salary: $62,410
- Job Outlook: 4% job growth from 2020 to 2030
- Number of Jobs: 12,700
- Highest-Paying States: Washington DC, Maryland, New York
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Best Jobs According to Your Major
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Is a Master’s Degree in Economics Worth It?
Yes, a Master’s in Economics is worth it if you aspire to take on senior roles. Professionals with a master’s degree earn a high annual salary compared to many other occupations and have access to a wide array of job opportunities in economics.
A job in economics can be satisfying if you are interested in numbers and people. You can find rewarding jobs in public finance, international finance, the energy sector, nonprofit organizations, private businesses, and more. Master’s degree holders have a solid foundation in economics, business acumen, and the practical skills to succeed in the field.
If economic theory, data analysis, financial economies, and helping business strategize sounds exciting to you, then you’ll find getting a Master’s in Economics worth it. Most careers in economics show promising growth. No matter what sector of economics you go for, you are bound to have an interesting and fulfilling career.
Additional Reading About Economics
[query_class_embed] https://careerkarma.com/blog/online-college-economics-courses/ https://careerkarma.com/blog/economics-bachelors-degrees/ https://careerkarma.com/blog/best-associate-degrees-in-economics/
Economics Master’s Degree FAQ
A Bachelor of Science in Economics is best for entry-level roles in the economics field. If you wish to progress in your career, you might find that employers prefer candidates with a Master’s Degree in Economics or a related field.
A Master’s of Business Administration is better If your career goal is to work in business and finance. For deeper knowledge in economics, you can earn a Master of Science in Economics. The cost of a degree in economics can be more reasonable than an MBA from an accredited institution.
A Master’s Degree in Economics takes two years to complete, in general. Some programs allow students to earn their graduate degrees in ten to twelve months, varying for any credits transfer. Additionally, some online programs offer more flexible schedules to allow more students to access an education in economics.
You will study macroeconomic and microeconomic theory, econometrics, and other fields of economics in your graduate program. Economics majors take a set of core courses and have access to a range of elective courses to gain in-depth knowledge in their chosen field.
The post Best Economics Master’s Degree Programs, Jobs, and Salaries appeared first on Career Karma.
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Jacqueline Renouard
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