The Top Online Master’s in Economics Programs
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Economics is the study of the production, consumption, and distribution of resources, goods, and services. A master's degree in this field provides you with educational and professional flexibility. In a master's in economics program, you analyze the economy in depth at different scales, including at the individual or organizational level and on a national and international level.
Many of the top online schools offer online master's in economics programs, giving you ample study options.
Best Accredited Online Master's in Economics Programs
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George Mason University
Fairfax, VA - 4 years
- Online + Campus
Cost per Credit:
In-State | $1,100
Out-of-State | $1,100
Credits to Graduate: 30
Mason's fully online MA in economics covers experimental, public choice, and Austrian economics and focuses on comparative institutional analysis. Students take courses such as mathematical economics, gender economics, and market process theory. The 18-month program is available in part-time and full-time formats.
After graduation, you could pursue a career as a statistician, economic analyst, or research scientist. You should have completed a bachelor's degree and courses in intermediate microeconomics, intermediate macroeconomics, calculus, and statistics to apply.
University of Detroit Mercy
Detroit, MI - 4 years
- Online + Campus
Cost per Credit:
In-State | $953
Out-of-State | $953
Credits to Graduate: 30
UD Mercy's master of arts in economics is a fully online, one-year program that equips you with the knowledge and skills you need to pursue a research career or apply for a doctoral program. Courses include economic analysis of enterprises and analysis of economic conditions. You can choose either a thesis or a non-thesis track.
This online program costs about half what the same degree costs on campus. To apply, you must have a bachelor's degree from a regionally accredited institution and a GPA of 3.0 or higher.
American University
Washington, DC - 4 years
- Online + Campus
Cost per Credit:
In-State | $1,922
Out-of-State | $1,922
Credits to Graduate: 30
AU's online master's in economics with a specialization in applied economics is a policy-oriented program that emphasizes data analysis and economic policy. Courses include applied econometrics I and II, labor economics, and a capstone seminar.
About 96% of the program's graduates work in the field or pursue a graduate degree within six months of graduation. For admission, you should have a bachelor's degree from an accredited school and have taken calculus I. You can complete the degree program in 20 months.
Johns Hopkins University
Baltimore, MD - 4 years
- Online + Campus
Cost per Credit:
In-State | $1,730
Out-of-State | $1,730
Courses to Graduate: 10
Johns Hopkins' MS in applied economics is a 10-course program that takes 12-24 months to complete. This multidisciplinary degree lets you emphasize public policy or financial, environmental, health, international, or spatial economics. You can study on campus or online, full time or part time.
After graduation, you could pursue a career as a budget analyst, statistician, or operations research analyst. You need a bachelor's degree from an accredited school with a minimum GPA of 3.0 to apply. Prerequisites include statistics, calculus, and macro and microeconomics.
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What Can I Expect From an Online Master's in Economics Program?
Most economics students have an interest in mathematics and statistical analysis. These two-year programs usually feature 30-45 credits and focus on developing knowledge of foundational economic theory and analytical skills and methods. When preparing for graduate school, you should be aware of the different degree and concentration options available in this field.
A master's in economics program may award an MA or MS degree, with possible differences in the electives, focuses, and eventual career paths. MA curricula, for example, tend to look more at theoretical economics and interdisciplinary approaches, such as public policy. In contrast, MS degrees curricula may delve more deeply into the technical side of economics.
In addition to different degree types, you may have a choice of concentrations. A master's in economics program may feature options like financial economics, data analytics, and international economics. Each concentration features a section of specialized courses and training that can help improve the chances of employment in a particular subdiscipline.
While most training takes place in the classroom, you should be prepared for practicum and/or internship experiences. Both degree types may offer these as an outlet for practical application of theoretical knowledge. Even students in an online master's in economics program can participate in a practicum, though distance learners may have to find a location close to home.
What Can I Do With an Online Master's in Economics Degree?
Graduates with a master's degree in economics can help people, businesses, and governments better understand markets, risks, and opportunities. Their specialized training can apply to many industries, including business, finance, and healthcare.
This career path is also quite lucrative, with economists earning median annual wages of $115,730 (as of May 2023). Economics graduates tend to be skilled at working with numbers and statistics; these abilities can also be applied to in-demand roles like statistician and research analyst. Though not exhaustive, the following list of careers shows a few popular career pathways for economics graduates.
| Job Title | Median Annual Salary (May 2023) |
|---|---|
| Economist | $115,730 |
| Mathematician | $104,860 |
| Operations Research Analyst | $83,640 |
| Budget Analyst | $84,940 |
| Survey Researcher | $60,960 |
Frequently Asked Questions About Master's in Economics Programs
Is a master's in economics worth it?
A master's in economics prepares graduates for many promising and attractive career pathways. Not only does this degree meet the minimum requirements for the economist profession, but it qualifies graduates for many business-related and management careers.
The flexible training and skills learned in an economics program can be applied to various industries, making this degree very useful for students who know they want to go to graduate school but are still unsure about their exact professional plans.
Are economics majors in demand?
In addition to a need for economists within the government to analyze the economy and economic policies, a growing number of businesses look to economists for support. These professionals may help identify pricing sweetspots, risk management, and market opportunities. The BLS projects 6% growth for economists between 2022 and 2032.
The demand for statisticians is even more significant, with the BLS projecting 30% growth between 2022 and 2032. The growth in data collection and data analytics has created a huge need for professionals who can help organizations make more informed decisions.
What are the highest-paying jobs I can get with a master's in economics?
Many factors impact salaries, including a worker's location and individual employer. Among careers in related fields, however, the highest-paying job for graduates with a master's in economics may be the role of actuary. According to the BLS, these professionals earn median annual salaries of $120,000.
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