A Master’s degree in Economics opens the door to many career pathways. There is a common stigma that economics is a mysterious realm filled with futures, numbers, and money. But Econ majors do so much more than just work at the Federal Reserve or Wall Street. People with Master’s degrees in economics can be found in various places, including corporate offices, colleges, restaurants, banks, technology companies, and even healthcare. While there is certainly a place for economics majors in large corporations, there are a greater number of mid-size companies who actually hire them. Insurance firms, grocery stores, and utility companies are a few of many examples.
Because the business skills that Graduates with a Master’s in Economics use can be applied in almost any type of business, it is necessary for graduates to think about other complementing interests they might want to pursue. Very few jobs actually have the title of ‘economics’ in them, but work is often abundant to find for those who search creatively for new positions. No matter what type of job it is, all economics majors can employ these key skills in the job:
- Interpreting and manipulating data: Skills such as reading statistics, drilling down numbers, and understanding the relationships between different segments of data are the essential core of economic theories.
- Communication: Anytime you are communicating a complicated subject and translating it into simple terms is a moment when economics truly shines through. People who think economically can demystify this subject that is often confusing to many others.
- Learning new business industries: Many people are comfortable working within a single business industry, but not economics majors. The economist fluidly transitions from businesses in different fields and is fascinated with learning different industries and how the logistics, communication, sales, and organizational structure relate to each other. This gives economics majors an advantage when it comes to the job hunt.
21 Best Online Master’s Degree Programs for Economics that Bring Home the Best Value
1. University of Maryland, Global Campus – Master of Science in Applied Economics (48 points)
This online Master’s degree is specially tailored for students who are earning the degree as working professionals. It holds an excellent value in tuition, and the solid course offerings challenge students to think higher and graduate with better outcomes than many other schools. These courses are hosted by the University’s main campus in College Park, MD. You certainly do not want to miss this opportunity.
- Graduate Tuition: $8,640
- Graduate Enrollment: 12,119
2. West Texas A & M University – Online MS in Finance and Economics (47 points)
This award-winning online degree is nationally recognized by The Times and the U.S. News and World Report. Finance and economics are not only a smart match, but it also makes common sense in the business world. And the value of getting both sectors of education in a single degree is a rare treat for graduate students. Combine that with the flexibility of an online course schedule, and it’s no wonder the program won these prestigious awards.
- Graduate Tuition: $4,823
- Graduate Enrollment: 2,615
3. Georgia Southern University – Online MS in Applied Economics (46 points)
Students who are seeking a flexible study schedule will find Georgia Southern University’s MSAE online program a delight. Taught through the school’s Jack N. Averitt College of Graduate Studies, the program teaches core fundamentals of analytics, data statistics, and market value in the financial realms that are essential skills to society. Graduate students will leave confident in handling businesses when it comes to the numbers.
- Graduate Tuition: $4,977
- Graduate Enrollment: 3,339
4. University of Houston – Online Master in Applied Economics (45 points)
Not many people see a defined career outlook for a Master’s in Economics, but the University of Houston does. Even in the middle of a pandemic, the school ranked 7th in the nation by TFE Times in 2020 for their online Master in Applied Economics program. The school touts that students can complete the degree in as little as 12 months. When students graduate, they will be prepared for whatever life throws at them.
- Graduate Tuition: $8,370
- Graduate Enrollment: 7,551
5. NC State University – MS in Economics, MR in Economics (42 points)
NC State’s Economics programs offer a remarkable palette of flexible options for the graduate student. While the programs are not offered completely online, a selection of online courses is available for some programs. Students can pursue a Master’s with a thesis for the MS in Economics, or without one for the MR. They can also earn the Master’s for the PhD. in Economics track if they wish to dive deeper into the subject. The school is also renowned as among the best in the country for value.
- Graduate Tuition: $9,095
- Graduate Enrollment: 10,331
6. Youngstown State University – Online MA of Financial Economics (40 points)
While some Masters’s programs in Economics are elaborate and difficult to follow, Youngstown State University’s Online Master’s of Arts degree makes the process streamlined. Simple with no frills or fuss, this straight Master’s degree is ideal for students who do not want to waste their time getting their feet wet into the business world.
- Graduate Tuition: $6,058
- Graduate Enrollment: 1,172
7. Western Illinois University – MS Quantitative Economics (38 points)
This powerful Master of Science in Quantitative Economics features flexible coursework with individualized attention. The average class size is nice and small at 15, and the school prides itself on fostering a positive learning environment. Students have come from over 70 countries to study online through this school, making the diverse class space a great way to experience other cultures to boot.
- Graduate Tuition: $7,962
- Graduate Enrollment: 1,666
8. California Polytechnic State University – MS in Quantitative Economics (37 points)
This Master of Science program offers students the golden opportunity to learn critical thinking skills and working with numbers to prepare them as data scientists for a variety of businesses. The coursework is especially useful in providing an environment to implement big data exercises in the Golden State and beyond.
- Graduate Tuition: $7,176
- Graduate Enrollment: 923
9. Ball State University – Online Master’s Degree in Data Science (36 points)
Students who enroll in Ball State’s Online Master’s Degree in Data Science can expect to receive quality economic skills for today’s competitive environment. This cutting edge program contains a great emphasis on the analysis of coding, machine learning, data mining, and more, and how it all comes together with statistic relationships. It may very well be the economic degree of the future.
- Graduate Tuition: $8,850
- Graduate Enrollment: 5,741
10. Florida State University – Masters in Applied Economics (35 points)
This Masters in Applied Economics is taught by FSU’s College of Social Sciences and Public Policy. It ranked 6th in the nation by TFE Times for the best economics program of its kind in 2020, a task earned with certainly no easy feat. Graduate students who are seeking small class sizes and good value will definitely not want to pass this prospective up, as the school awards approximately $25,000 in scholarships on average.
- Graduate Tuition: $9,684
- Graduate Enrollment: 9,180
10. Murray State University – Online MS in Economics Development (35 points)
While the traditional Masters of Science in Economics is currently not taking applications, Murray State’s Online Master of Science in Economics Development is currently available. The flexible program is perfect for graduate students who are interested in utilizing their skills in city planning, marketing, political science, recreation, and hospitality, whether they be for local or regional establishments that are constantly seeking new positions to be filled.
- Graduate Tuition: $8,214
- Graduate Enrollment: 1,417
12. University of Missouri, Columbia – Master’s in Economics (34 points)
This comprehensive Master’s program at the University of Columbia focuses on a STEM emphasis and prepares students with competitive skills such as programming and problem-solving in the business and government sectors. Students can pursue this degree in five ways, including the economic/statistics path, economics/mathematics path, and a combined Master’s in economics and a judicial doctorate law degree.
- Graduate Tuition: $9,264
- Graduate Enrollment: 7,425
13. Louisiana State University, E.J. Ourso College of Business, Baton Rouge – MS in Financial Economics (33 points)
The LSU E.J. Ourso College of Business offers a great Master’s degree online. The 10-month program incorporates STEM principles and how they apply to the business world. Graduates of this school have harnessed jobs at prestigious companies such as JPMorgan Chase, Deutsche Bank, ExxonMobil, and American Airlines.
- Graduate Tuition: $9,132
- Graduate Enrollment: 5,930
14. Georgia Institute of Technology – MS in Economics (31 points)
This prestigious Master’s of Science in Economics program provides flexible options for its students, including a one-year and two-year course track. The program has won multiple awards by the likes of TFE Times, College Choice, Best College Reviews, and more. Students have moved on to acquire excellent jobs in companies such as AT&T, Amazon, Google, and U.S. federal government branches.
- Graduate Tuition: $14,064
- Graduate Enrollment: 20,338
14. University of Texas at Austin – MA in Economics (31 points)
The Master of Arts in Economics at the University of Austin is designed for the practical student in mind. Graduate students do not need to have a Bachelor’s in Economics to pursue this Master’s, as any Bachelor’s with a strong emphasis on quantitative studies is acceptable. The Master’s program can be completed in as little as 10 months and is appropriate for several career paths. Students can use it to study further to obtain a Ph.D., study in tandem with a law degree, or step out right away into the working field.
- Graduate Tuition: $11,998
- Graduate Enrollment: 10,927
16. Clemson University – MA in Economics (23 points)
Clemson’s Master of Arts in Economics program facilitates coursework flexibility to the student. The curriculum offers a thesis and non-thesis option depending on the student’s career path of choice. It’s an ideal program to pursue those seeking a career in the government, financial law, credit market, stock market, and sports sectors of business.
- Graduate Tuition: $10,600
- Graduate Enrollment: 5,627
16. University of North Dakota – MS in Applied Economics (23 points)
The Master of Science in Applied Economics at the University of North Dakota prepares students for applying economics in the real business world. The program also teaches valuable coding schools such as Python, R, and STATA. UND touts its tuition rates are 13% lower than comparable schools in the region, and that’s worth garnering attention.
- Graduate Tuition: $10,534
- Graduate Enrollment: 3,418
18. Northeastern University – Master of Economics Program (22 points)
“Only eight classes stand between you and your Master’s in Economics” – that’s Northeastern University’s bold statement to its students. The Boston school has partnered with over 3,000 corporations in their global networking, adding great value to this remarkable program.
- Graduate Tuition: $24,793
- Graduate Enrollment: 8,005
19. Regent University – MBA in Finance and Investing (20 points)
Regent University’s economics offerings come in the form of a well-rounded MBA degree. Along with several other concentrations, students can choose the Finance and Investing option to further hone their economics skills in an ethical format for business and financial futures.
- Graduate Tuition: $15,552
- Graduate Enrollment: 5,957
20. Tufts University – MS in Economics (15 points)
The Tufts School of Arts and Sciences at Tufts University offers a powerful Master of Science in Economics degree that provides students an excellent environment for deep statistical thinking in today’s business world. Students may wish to pursue a joint option with the MS in Economics and Urban and Environmental Policy to further tailor their interests.
- Graduate Tuition: $52,724
- Graduate Enrollment: 5,971
21. University of Delaware – MA in Economics and Entrepreneurship for Educators (12 points)
Students who dream about teaching economics to children will feel right at home with this MA in Economics and Entrepreneurship for Educators. The unique program from the University of Delaware is taught completely online, a rare treat in flexibility for this niche subject.
- Graduate Tuition: $34,164
- Graduate Enrollment: 4,130
Our Ranking Methodology
Each of the colleges was ranked according to graduate tuition rate and enrollment quantity. The tuition rates are estimated calculations by the academic year. An academic year is defined by the average of courses taken in two semesters. All the score data is sourced from the specific campuses mentioned above instead of the parent school as it applies. Each school is given two initial scores, first by the lowest cost of annual graduate tuition followed by the highest quantity of enrollment in the most recent academic year available. The two subcategory scores are combined to reflect a total single score. A weighted total was applied emphasizing two-thirds of the graduate tuition score to achieve final scoring for the schools as shown above.
Have Questions About Your Ranking?
If you see something that does not reflect accurate data for the colleges mentioned, feel free to contact us at Best Value Schools. We welcome valuable feedback from college staff and faculty. At Best Value Schools, we strive to present the most accurate data to the best of our ability. Students who are interested in learning more about an online Master’s degree in Economics can begin their search today at Best Value Schools. It’s time to invest in your future and harness the power of education to your advantage. Take flexible online courses for your busy schedule and learn valuable skills for life. Explore your options and see a whole new world waiting for you!