If you’re thinking of earning an affordable online master’s in economics degree, now is the time to do it. According to the “Occupational Outlook Handbook” from the Bureau of Labor Statistics, employers will create thousands of new jobs for economists over the next 10 years. Although job applicants are virtually always required to have a Master’s degree in Economics, those who take the time to complete an advanced degree will find it well worth their trouble; the average income for an economist in the United States is over $90,000 a year!
You may already be working in business or finance and be worried about the time earning an online master’s in economics degree will take away from your career. Thanks to the innovations of virtual learning, you can continue to work full-time without sacrificing your academic goals. Distance education programs often feature interactive media, web-based videos, and virtual discussion boards to make your experience just as valuable as what you would enjoy in the classroom.
Take a look at our list below of these 10 cheap online master’s in economics degrees. These schools all cost less than $23,000 per year, and the most affordable offer yearly education for less than $5,000! We categorized public schools based on the average of their in-state and out-of-state rates, but remember that the amount you actually pay for your degree in economics will depend on your residency, as well as financial aid options. Expense figures are based on data drawn from the U.S. Department of Education’s College Navigator website.
Note: This article may contain sponsored links. These are designed to help you connect with programs easily.
Cheap Online Master’s in Economics Degree Programs Ranking
SNHU offers a very affordable online master’s in economics degree program that has received several distinctions, including being named a 2014 Military Friendly School and winning the Best Online Degree Program voted by the 2014 Best of Business Reader’s Poll.
Students studying economics at SNHU will gain skills in data collection and processing, empirical analysis, and investigative questioning techniques that will prepare them to gain employment after graduation. The median salary for an economist is over $90,000 per year and significant job growth is expected over the next decade. This accredited online master’s in economics degree program offers five start dates per year and may be completed in as few as 15 months.
9. Purdue University
Economics MS Degree Program Online
The Purdue Krannert School of Management offers an Economics MS Online Degree Program which is a great fit for students with undergraduates in STEM fields. This rigorous program is taught by full-time faculty with excellent credentials. Curriculum is centered on both theory and application and allows students earning their master’s in economics degree online to concentrate in either Applied Economics/Business or Advanced Economic Theory. Students may also choose to continue their online college education in a doctoral program in Economics. This program was ranked in the top 10% of all Master of Science in Economics Degree programs for 2015 by the Financial Engineer.
Tuition: $9,208/yr (In-state) $28,010/yr (Out-of-state)
8. Georgia Southern University
Master of Science in Applied Economics (Online), M.S.A.E.
Georgia Southern University offers an M.S.A.E. tailored to students who wish to earn a master’s in economics degree online who are interested in studying market analysis, economic development, and regulatory issues. Some of the benefits of attending this two-year affordable program include small class sizes of eight to 15 students, and the opportunity to engage with faculty and peers through virtual classroom discussions and simulations while studying from virtually anywhere in the world. Graduates are qualified to seek employment in financial institutions, businesses, and government agencies. This top online college is fully accredited by the AACSB and was named by the U.S. News & World Report to its list of Best Online Graduate Business Programs.
Tuition: $6,468/yr (In-state) $25,846/yr (Out-of-state)
7. University of Georgia
Online Master of Science in Financial Planning, Housing and Consumer Economics (M.S.)
The Master of Science in Financial Planning, Housing, and Consumer Economics at the University of Georgia is tailored toward students completing the master’s in economics degree online who plan to take the Certified Financial Planner exam after graduation. This two-year, regionally accredited program offers four start dates per year and is taught by leading tenured UGA faculty. The demand for financial planners and economists is growing and students of this program – one of the best online economics graduate degrees – learn the necessary skills to succeed in the field. Graduates choose employment in brokerage firms, banks, insurance companies, or even starting their own practice. U.S. News & World Report lauded UGA for having the #22 Best Online Graduate Education Programs in the nation for 2015.
Tuition: $7,700/yr (In-state) $23,000/yr (Out-of-state)
6. Ohio University
Online Master’s Degree in Financial Economics
The MFE program at Ohio University is a great fit for working professionals who seek career advancement and to obtain a Chartered Financial Analyst investment credential after graduating. Students attending college online will begin this 15-month program in the fall and graduate in December of the following year, culminating in a research project or internship. What makes this accredited online master’s in economics degree program unique is that it is a theory program designed to prepare graduates to continue on to a PhD program or to work at government agencies like the Federal Reserve Bank or the Department of Labor. America’s 100 Best College Buys included Ohio University on its list for 2014.
Tuition: Approximately $42,000 for a two-year program
5. Mercer University
Online MBA with a Specialized Track in Economics
Mercer University’s cheap online master’s in economics degree program combines the latest in interactive technology with highly credentialed faculty to prepare working adults for career advancement. The online college format allows students to complete their MBA in 18 months or less. Students analyze challenges facing government, non-profit and private-sector organizations and gain practical experience by working with local companies, helping to make this one of the best available economics programs. Faculty highlight the skills and attitudes necessary for successful interactions. Mercer will also assist students with internships and job placement. College Choice ranked this top online college #2 among Southern regional universities for 2015.
4. University of Wisconsin Whitewater
Master of Science in Applied Economics Online
The Master of Science M.S. in Applied Economics is a rigorous one-year program designed for those who have completed a Bachelor’s degree in a variety of majors and who seek careers in government, analytics, research, and business. The top-notch curriculum centers on econometrics, statistical analysis, and data management and teaches students to use the statistical software most used by leading employers in the industry. Small class sizes ensure ample quality faculty and peer interaction for those attending college online. Students may also choose to emphasize one or more subject areas, including Environment, Health, Transportation, and International Macroeconomics. This affordable online master’s in economics degree is designated a Best Buy from GetEducated.com.
Tuition: $7,640/yr (In-state) $16,771/yr (Out-of-state)
3. University of North Dakota
Online Master of Science in Applied Economics
The Master of Science in Applied Economics degree at the University of North Dakota arms students with the knowledge necessary to succeed in economic development, consulting, and applied research, among other fields. Students in this program gather experience from classroom learning and independent research in order to communicate technical ideas with others, analyze and collect data, and apply economic theory. Attending college online at North Dakota allows students to participate in research projects at the university’s Bureau of Business & Economic Research. UND also offers research internships. U.S. News & World Report ranked North Dakota #32 among online graduate business programs.
Tuition: $6,626/yr (In-state) $17,690/yr (Out-of-state)
2. Youngstown University
Online Master of Arts in Financial Economics Program
The Master’s in Financial Economics at YU focuses on comprehending economic theory and analyzing economic markets. Students completing this cheap online master’s in economics degree study microeconomic and macroeconomic models, learn economic techniques, and become proficient with advanced statistical analysis markets. Courses are taught on Blackboard and include recorded lectures, videos, readings and assignments, and plenty of faculty and peer interaction. Alumni have acquired positions as Research Analysts, Consultants, and Presidents at top firms like Morgan Stanley and Key Bank. This top online master’s in economics degree program was rated #13 in the United States by the Financial Engineer.
Tuition: $7,752/yr (In-state) $10,160/yr (Out-of-state)
1. West Texas A&M University
Online Master of Science in Finance and Economics (M.S.F.E.)
Students seeking a deeper understanding of economics and finance or those already working in the field can turn to the Economics program at West Texas A&M University. U.S. News & World Report ranked WTAMU the #27th Best Online Graduate Business Program in the nation. Through courses such as Advanced Business Forecasting and International Finance, this top online college offers a two-year program that provides essential skills in critical thinking, business environments, and professional communication. This completely online master’s in economics degree path – focused more heavily on practice than theory — ensures students have a solid foundation for future work in law school, toward a doctorate degree, or in a wide variety of occupations.
Tuition: $4,1080/yr (In-state) $4,648/yr (Out-of-state)
See also: Economics Scholarships
About the Author:
Iris Stone began her writing career when she started working as a freelance writer and researcher in 2011. Her freelance business soon took off and she now owns and operates a writing and editing firm that works with clients all across the country. Despite the time it takes to run a business she still does much of the writing herself, and her work has included a variety of content related to education policy, colleges and universities, academic programs, and graduates’ careers. Her interests actually span far beyond writing, and she is currently studying to be a physicist! Check out her Google+ Profile.