Economists analyze financial data, forecast economic trends, and research economic issues. According to the Bureau of Labor Statistics (BLS), economists earn a median annual salary of over $108,000 and enjoy much faster-than-average projected job growth between 2019-2029.
Our list ranks the top online master's in economics degrees for 2022. This article also introduces common economics courses, scholarship opportunities for economics students, and potential careers for graduates.
Master's in Economics Degree Common Questions
Is a master's in economics degree worth it?
A master's degree in economics prepares graduates for lucrative, in-demand careers, such as economist, risk manager, and controller, making it a worthwhile investment for many students.
What can I do with a master's in economics?
Graduates with a master's in economics can pursue careers as economists, economic forecasters, risk managers, controllers, and financial managers.
Can I get an economics degree online?
Yes. Many universities offer online economics degrees that prioritize flexibility and accessibility.
What is the difference between economics and finance?
Economics analyzes human behavior and economic theories, while finance focuses on financial transactions and applied financial management. Both degrees lead to job opportunities in finance.
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Why Get a Degree in Economics?
Master's in economics degrees cover topics like statistical models, forecasting software, and applied econometrics. Students gain the knowledge and skills needed for roles like economist, economic forecasting analyst, risk manager, and financial manager. Many of these career paths offer six-figure salaries and strong projected job growth.
The online learning format makes a master's in economics degree more accessible to many students. For instance, online students can attend top programs nationwide without relocating. Additionally, many online programs often give students the flexibility to balance their studies with professional and personal responsibilities.
How Much Does an Economics Degree Cost?
The cost of an online economics degree varies by factors like school, location, and delivery format. For example, public universities typically charge lower tuition rates than private universities. George Mason University, a public institution, charges $900 per credit for its online master's in economics. The online master's in applied economics at American University, a private school, costs $1,812 per credit.
Many public universities offer tuition discounts to in-state students. At Purdue University, for example, in-state students pay $968 per credit for the online master's in economics program. Out-of-state students pay $1,075 per credit.
Attending a master's in economics program online can often save students money. For instance, online students may save on many of the expenses that on-campus students incur, such as housing and commuting costs. Additionally, many schools offer tuition discounts to online students.
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How Much Do Economics Majors Make?
Graduates with a master's in economics degree can pursue roles like economist and financial manager. According to the BLS, economists make a median salary of $108,000 per year. However, salaries vary considerably by factors like location, experience, and industry. For instance, economists who work in finance or for the federal government make above-average salaries for the job title.
Financial managers also benefit from high earning potential. These professionals make a median annual salary of $134,000. A master's in economics also meets the requirements for lucrative roles like personal financial advisor, financial analyst, and budget analyst.
Courses in Economics
A master's in economics degree online builds strong research and analytical skills. Students learn how to forecast economic trends, test economic hypotheses, and analyze economic data. Courses cover topics like applied econometrics, mathematical economics, economic theory, and economic growth. Many programs also incorporate an internship that gives students hands-on experience in the field.
While each program sets its own curriculum and course descriptions, the following list outlines courses commonly found in online master's in economics programs.
Econometrics
Econometrics applies statistical approaches to economics. In econometrics courses, degree-seekers learn how to test hypotheses and forecast future trends. Coursework introduces students to software programs, experimental design, and different statistical models.Mathematical Economics
Economists rely on mathematical skills to conduct statistical analyses and forecast economic changes. In mathematical economics courses, learners strengthen their calculus and algebra skills. The course also emphasizes logarithms, statistics, and economic applications of mathematical concepts.Financial Stability
The course examines the role of the U.S. banking and financial system in the national economy, including economic growth and financial stability. Topics include financial development, economic competition, and financial crises. Learners also examine regulatory issues, recent challenges to financial stability, and the relationship between the government and financial institutions.
Certifications and Licensure for Economics
Economics professionals work in fields like finance, business, and economics. In many of these fields, professional certifications help professionals move into specialized roles. Most certifications set educational requirements and incorporate an examination. The following list outlines several common economics certifications.
The CFA credential recognizes skilled financial analysts. Candidates must meet work experience requirements and pass a three-part exam. The exam covers investment tools, portfolio management, and wealth planning. Candidates who pass the exam can join the CFA Institute and pursue executive roles in investment management, asset management, and risk management.
The Global Academy of Finance and Management (GAFM) offers the chartered economist credential. Requirements include an economics degree with a minimum 2.5 GPA, two years of economics or related experience, and passing scores on master's exams. GAFM also offers an economic policy analyst credential.
The EDFP credential recognizes specialists in business credit, financial analysis, loan packaging, and other types of economic development. Candidates must pass exams on deal structuring techniques, real estate finance analysis, and negotiating.
Scholarships and Fellowships for Economics
Master's in economics students can pursue fellowships and scholarships to help pay for their degree. Professional associations, private foundations, and government agencies all offer scholarships for economics degree-seekers. In addition to the following opportunities, students can find scholarships based on factors like their school, state, or career goals.
| Scholarship |
Amount |
Who Can Apply |
Hsiao Memorial Social Sciences Scholarship |
$1,000 |
The Asian Pacific Fund offers this scholarship in honor of economics professor Liang-Lin Hsiao. Graduate students in economics with a minimum 3.0 GPA qualify for the opportunity. Applicants must demonstrate financial need. |
NSF Graduate Research Fellowship |
$12,000 in tuition plus a $34,000 stipend |
The National Science Foundation offers graduate research fellowships for students in research-based master's programs at accredited schools. Recipients receive tuition support plus an annual stipend. |
Byron Hanke Fellowship |
$3,000-$5,000 |
This fellowship supports graduate students working on research projects in the development or management of common interest communities. Applicants must enroll in a graduate program at an accredited institution. |
Online Master's in Economics Programs 2022
#1 Online Master’s In Economics Programs 2022
South Dakota State University
- Brookings, SD
- 4 years
- Online + Campus
A master's degree from South Dakota State University prepares graduates for new career opportunities and advancement. The accredited MS in economics uses a rigorous curriculum taught by experts. Video lectures, assignments, and class discussions cover advanced topics in economics. The master's program takes about two years for full-time students. Students can also consider part-time enrollment to complete the degree.
The institution reports that 93% of students receive financial aid and 52% take out loans. In addition to this online program, South Dakota State University offers 15 other master's degrees.
South Dakota State University Numbers:
Total Online Enrollment: 4,358
Online Master's Program Totals: 16
Graduate School Tuition Rate: $8,083 in-state; $15,541 out-of-state
Average Aid Per Student: $4,625
Average Annual Cost: $18,195
South Dakota State University has received accreditation from the Higher Learning Commission, an independent accrediting agency.
Percent Online Enrollment
38%
Percentage of all students who are enrolled online.
Accreditation
Yes
Higher Learning Commission
#2 Online Master’s In Economics Programs 2022
University of Missouri
- Columbia, MO
- 4 years
- Online + Campus
The University of Missouri offers a respected master's-level economics program. With a variety of online offerings, the public institution enrolls 9,722 distance students. Students can choose online learning to access flexible scheduling options that make earning a degree easier.
The master of arts in econometrics requires foundational classes fostering transferable skills, along with advanced economics courses. Graduate students consult with faculty mentors to select classes aligning with their interests and career goals. The online program emphasizes field-specific skills and knowledge. After earning the master's degree in economics, graduates often qualify for promotions or raises. The institution's career services and alumni network can help master's students locate and secure professional opportunities.
Graduate-level learners can access support services including career advising, online tutoring, and financial aid counseling. The school charges online learners affordable tuition rates. Private scholarships and institutional fellowships can also help learners fund their master's studies.
Percent Online Enrollment
32%
Percentage of all students who are enrolled online.
Accreditation
Yes
Higher Learning Commission
#3 Online Master’s In Economics Programs 2022
Purdue University
- West Lafayette, IN
- 4 years
- Online + Campus
The graduate programs at Purdue University help professionals move into new careers or advance in their current field. In the accredited master of science in economics program, graduate students learn through a rigorous curriculum taught by experts. The school may consider college entrance scores in the application process. Distance learners work with advisors, IT support professionals, and other support staff at the school. The high-quality online learning format features virtual communication with faculty and peers.
The school offers an education students can afford. Learners may be able to lower their cost of tuition through loans or scholarships. The application process requires school transcripts.
Purdue University at a Glance:
Total Online Student Enrollment: 10,129
Online Master's Program Offerings: 20
Graduate School Tuition Rate: $9,208 in-state; $28,010 out-of-state
Average Total Aid Per Learner: $9,883
Average Annual Cost: $12,684
The school is accredited by the Higher Learning Commission.
Percent Online Enrollment
22%
Percentage of all students who are enrolled online.
Accreditation
Yes
Higher Learning Commission
#4 Online Master’s In Economics Programs 2022
University of North Dakota
- Grand Forks, ND
- 4 years
- Online + Campus
Situated in Grand Forks, the University of North Dakota is a public school. In the master's in applied economics and predictive analytics program, graduate students learn through a rigorous curriculum taught by experts. Online learners can use test scores to bolster their application. The school's advisors, IT professionals, and other support staff help distance learners meet degree requirements. The online programs maintain a high academic standard by connecting students and faculty in a virtual classroom.
The school charges an average of $726 per credit across all programs. Grad students use financial aid such as loans and scholarships to cover their tuition expenses. In addition to this online economics program, the University of North Dakota offers 27 other master's degrees.
University of North Dakota Facts:
Online Student Enrollment: 6,163
Number of Online Master’s Programs: 28
Grad School Tuition: $10,534 in-state; $18,434 out-of-state
Average Aid Awarded Per Student: $5,686
Average Cost With Aid: $15,654
The school holds accreditation from the Higher Learning Commission.
Percent Online Enrollment
45%
Percentage of all students who are enrolled online.
Accreditation
Yes
Higher Learning Commission
#5 Online Master’s In Economics Programs 2022
Golden Gate University
- San Francisco, CA
- 4 years
- Online + Campus
Golden Gate University's program ranks among the top online master's programs for economics. Located in San Francisco, California, the private institution enrolls 1,631 students in its flexible online programs. Learners with personal or professional obligations often benefit from online programs' flexible scheduling options.
The master's in business analytics offers a rigorous curriculum that emphasizes career-focused skills and knowledge. Faculty mentors help graduate students customize the program based on their professional goals. Learners in the online program benefit from flexible scheduling options and career-specific training. After earning the master's degree in economics, graduates often qualify for promotions or raises. The institution's career services help current and former students locate and secure professional opportunities.
The school delivers career advising and financial aid counseling to help graduate learners plan their academic and professional futures. The institution charges online learners affordable tuition rates, making graduate studies more accessible. Additional financial aid options to help learners fund their master's studies include private scholarships and fellowships.
Retention Rate
Not provided
Admission Rate
Not provided
Percent Online Enrollment
67%
Percentage of all students who are enrolled online.
Accreditation
Yes
Western Association of Schools and Colleges Senior Colleges and University Commission
