Chicago Earning Economics Masters Degrees Online
Online Masters in Economics Degrees & Programs Overview
Busy working professionals with a strong interest in mathematical analysis might find that earning an Online Masters in Economics degree may be a convenient way to advance their education. Most jobs in today’s global and competitive environment require candidates with a master’s degree, although some jobs, including academic and higher-level research positions require a PhD in Economics.
The course of study for the master's degree lasts from one to two years, though students are encouraged to verify this with the school they are interested in attending. A thesis is often required, particularly for terminal degrees.
Economics is an integral element in national and global decision-making from healthcare management to environmental issues. The foundation of economics is specifically categorized under two major subheadings: Microeconomics (focuses on specific or localized aspects of the economy), and Macroeconomics (focuses on general features and processes of a national economy). Information Technology increasingly places a demand for skilled statistical analysis where economics lends itself through its economic modeling and reasoning features. The mastery of econometrics (combination of statistical application methods with economic theory) is projected to become a burgeoning marketable skill throughout the 21st century.
Potential Advantages to Online Economics Masters Degree Programs
Online Masters in Economics programs may offer more flexibility for students who have family or job responsibilities. Whereas commuting to school for a set time may be inconvenient, online programs tend to allow 24 hour access to classes so that students may log into the course management system when their schedule allows.
For someone who works well independently, is self-motivated to produce assignments and complete
study goals, web-based programs may be a good fit. Make sure if you are choosing an Online Economics masters program that you have a good computer, and reliable Internet access. Digital tools make research via online libraries accessible, so you really can learn and study from just about any location.
Start reviewing the multiple options for your education on GradSchools.com. Some of your choices might include Online MBA in Economic Crime and Fraud Prevention, Online Master of Arts in Economics-Applied Economics, MA Behavioral Economics online or MS in Economics degree programs
Different Types Of Economics Graduate Degrees
Graduate level economics degrees are acquired through an MA, MS, or PhD. Nine traditional fields of economics include: comparative e econometrics, economic development, environmental and natural resource economics, economic thought, international trade and finance, labor, monetary theory and financial institutions, and public finance. For those interested in environmental issues there are currently Master's degree options in Resource and Applied Economics. Issues covered within these programs may include: global warming, oil and natural gas extraction, and issues relating to renewable and non-renewable resources. For those interested in policy analysis and policy making, business economics fosters both analytical and general business acumen. Depending on your area of interest, research multiple programs to determine which program will fit your needs.
Explore a Career as an Economist
Most Economist jobs require a Masters in Economics or a PhD in Economics; some roles in business, research, or international organizations often require a combination of graduate education and work experience. According to ONet, 29% of economists have Masters degrees compared to 58% holding Doctoral Degrees.
Some of the tasks performed by economists include:
- Analysis of economic issues
- Taking surveys
- Data analysis using mathematical and statistical models
- Preparing reports
- Forecasting economic trends
- Advising businesses, governments, and individuals
- Economic policy-making
- Publishing and writing economic based articles
The industries with the highest levels of occupation for economists include:
- Federal government
- Management, Scientific, and technical consulting services
- Scientific research
- State and local government
Pay For Economists
In 2014, the median annual wage for Economists was $95,710. The lowest 10% earned les than $50,440 and the top 10% earned more than $170,780.
Ready to Pursue an Online Masters in Economics?
With an increasingly regulated and complex current global marketplace, the demand for economists continues to grow. According to the bureau of Labor Statistics, candidates holding a master’s degree or Ph.D., as well as strong quantitative and analytical skills and related work experience will have the best job prospects. Why not search for an Online Masters Degree Program in Economics that might prepare you for a bright future!
Sources: onetonline.org/link/summary/19-3011.00 | bls.gov/ooh/life-physical-and-social-science/economists | bls.gov/oes/current/oes193011.htm