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.
Ready 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 in Behavioral Economics
- MBA in Economic Crime and Fraud Management
- MS Health Economics and Decision Making
It is wise to request information from each school to determine tuition costs, admissions requirements or pre-requisites, faculty and curriculum since these factors vary.
Potential Curriculum in Masters in Economics Programs
Economics 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
- Econometrics
- Microeconomic theory and public policy
- Technical topics in economics
- Game theory
- Psychology and economics
- Market design
Students might choose electives in areas such as:
- Industrial organization
- Environmental economics
- Statistics and econometrics
- Advanced theory
- Behavioral and experimental economics
- International economics
- Labor economics
- Public economics
- Health economics
- Econometrics
Potential Career Outlook for Masters in Economics Graduates
You 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 21,500 jobs in 2014. They are employed in government, management, scientific research, finance and insurance. According to BLS data, a 6% growth in employment rate is projected between 2014 and 2024[i].
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 2014, statisticians held 30,000 jobs, and the projected job outlook is extremely bright; a 34% growth is anticipated between 2014 and 2024, according to the Bureau of Labor Statistics[ii].
Financial Analysts: Professionals who provide guidance to businesses and individuals about investment decisions, Financial Analysts held about 277,600 jobs in 2014. For advanced positions, an MBA is often required. This is a faster than average employment occupation, with a projected 12% increase expected between 2014 and 2024[iii].
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!
Ready To Pursue a Masters Degree in Economics?
According to the Bureau of Labor Statistics, economists are being relied upon by businesses and organizations to forecast sales and economic trends as the global economy becomes increasingly competitive and regulated. Why not be amongst the next trend of well-educated professionals in the field, by looking into Economics Masters Programs on GradSchools.com today!
Sources: [i] bls.gov/ooh/life-physical-and-social-science/economists.htm | [ii]bls.gov/ooh/life-physical-and-social-science/economists.htm | [iii] bls.gov/ooh/business-and-financial/financial-analysts | bls.gov/ooh/math/statisticians
