What Is a Master’s Degree in Economics?Students with a keen interest in mathematics and data analysis with a desire to pursue a variety of potential career paths might find that enrolling in an Economic Masters program may open up a variety of opportunities. A Masters in Economics typically comprises advanced education in economic theory and applied economics. Economics is the field of knowledge that is concerned with the production, consumption, and transfer of wealth. Professionals who study the production and distribution of resources, products and services by collecting and analyzing information, trends and economic issues are Economists. Since most economists need a master’s degree or a PhD in Economics, the degree may be considered a stepping-stone to doctoral level studies or a route for advancement in a current career.
How To Select an Economics Master’s ProgramReady to review Masters in Economics graduate programs? GradSchools.com has easy to use search tools. A location search is helpful to begin. Use the city, state or country tabs and browse the results. Or, if program format is a key in your decision-making, you can look into Campus programs, or choose a distance-learning option. Busy working professionals might want to pursue an online Masters in Economics degree program for the convenience. Others might find the hybrid learning format, a combination of online and on-campus coursework a viable option.
MA Economics | MS in Economics | MBA in EconomicsSome of your choices might include the following economics graduate degrees:
- MA Economics
- MBA in Economics
- Master of Science in Applied Economics
- MA in Behavioral Economics
- MBA in Economic Crime and Fraud Management
- MS Health Economics and Decision Making
Potential Curriculum in Masters in Economics ProgramsEconomics graduate schools have different areas of focus, and offer different courses. However, an economics graduate student may encounter the following courses:
- Principles of microeconomics
- Principles of macroeconomics
- Microeconomic theory and public policy
- Technical topics in economics
- Game theory
- Psychology and economics
- Market design
- Industrial organization
- Environmental economics
- Statistics and econometrics
- Advanced theory
- Behavioral and experimental economics
- International economics
- Labor economics
- Public economics
- Health economics
FUN FACT: Microeconomics refers to the study of interactions between individual agents and their markets, and macroeconomics refers to the analysis of the economy as a whole, as well as factors impacting it, such as inflation and unemployment.
Potential Career Outlook for Masters in Economics GraduatesYou may be wondering to yourself, “what can I do with a Masters in Economics?” Graduates holding a Masters degree in Economics might choose to work in a variety of potential careers. Some of these might include: Economists: Professionals who apply economic analysis to issues within different fields such as education, health, development, and the environment. Some economists study the cost of products, services such as healthcare, or resources, for instance, energy. Other economists examine employment levels, business cycles, exchange rates, taxes, inflation, or interest rates. Economists held around 20,500 jobs in 2019. They are employed in government, management, scientific research, finance and insurance. According to BLS data, a 14% growth in employment rate is projected between 2019 and 2029. Statisticians: Professionals who use statistical methods to collect and analyze data in order to solve problems in business, engineering, healthcare and many other fields. Most statisticians hold degrees in mathematics, economics, or computer science. In 2019, statisticians held 45,700 jobs, and the projected job outlook is extremely bright; a 33% growth is anticipated between 2019 and 2029, according to the Bureau of Labor Statistics. Financial Analysts: Professionals who provide guidance to businesses and individuals about investment decisions. Financial Analysts held about 487,800 jobs in 2019 as per the BLS. For advanced positions, an MBA is often required. This is a faster than average employment occupation, with a projected 5% increase expected between 2019 and 2029. In addition, a Masters in Economics might prepare students to work as actuaries, budget analysts, market research analysts, mathematicians or postsecondary teachers. Naturally, earning a masters Degree in Economics is not a guarantee of employment however, there are transferable skills that may open up doors!
Take the Next Step with our List of 10 Economics Masters – 8 Degree Programs in QuebecNow you’re equipped with the information you need to start your search for a masters program in economics. The academic path you choose may depend largely on what you plan to do after you complete your degree. To a certain extent, you want to not only prepare yourself with an education but also the ‘right’ education for the type of career you want to lead. Don’t be shy, reaching out to more than one economics school may increase your chances of achieving your goal. Just click request info, fill out the for, and be sure you understand the ins and outs of each program.
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Wilfrid Laurier University
University of Waterloo