5 Best Online Master’s Degrees in Economics

The median salary for economics jobs is $100,000. With a degree from one of these 5 Best Online Master's Degrees in Economics, you'll be prepared to stand out against the competition and begin a fulfilling and high-paying career. 

Economics is a degree for those who are curious about how the world works. Economics studies financial systems which can then be applied on a local, national, and global level. With a bachelor's degree in economics, graduates can apply to jobs in banks, governments, and financial institutions. With a master's degree, you'll have even more career options.

A post-graduate degree in economics can lead to a career as a consultant, a financial advisor, an analyst, a professor, or even an entrepreneur. The Bureau of Labor Statistics shows that economists make a median salary of over $100,000. Over the course of the next several years, economist jobs are expected to continue to grow. This is the perfect time to join the market.

If you are debating a master's in economics, these schools may help you make up your mind. Even many entry-level jobs in the economy now expect candidates to hold a master's degree. These schools are nationally recognized and have programs that are attainable and affordable. An online degree allows you to work at your own pace without having to give up your other obligations and priorities. Check out these 5 Best Online Master's Degrees in Economics to determine which program might help you best reach your professional goals.

Selection Criteria

Best Value Schools publishes college degree rankings with the belief of how one's higher education should be, both, affordable and an investment of continued value for the students who pursue them. The staff of BVS collects data from reputable sources in order to calculate Net Price and the short and long-term value of every ranked degree. Collected data is simplified into weighted categories before scoring and then scaled through a BVS Score up to 100. The weighted categories are:

  • Degree Investment Return (25%)
  • Student & Alumni Evaluation (25%)
  • Cost Value (25%)
  • Matriculation (10%)
  • Academic Success (15%)

No matter what degree you decide on, we hope our research and support has made the selection process easier. There are numerous resources BVS utilizes to collect information on degrees, and we encourage you to check them out for yourself!

Here are the 5 Best Online Master's in Economics for 2020!

5. Johns Hopkins University – Baltimore, MD

Master of Science in Applied Economics

Website

The Master of Science in Applied Economics from Johns Hopkins University can be completed entirely online or on-campus. The program can be completed in one or two years, depending on whether the student is full-time or part-time. There are four core courses which are offered as evening and weekend classes. They are Microeconomic Theory, Macroeconomic Theory, Statistics, and Econometrics. From there, students choose an advanced econometrics course as well as five electives. These choices give students the opportunity to control the focus of their degree. Students can focus on one or more of the following areas: public policy; financial economics and macroeconomy; international economics and development, spatial economics, environmental economics, health economics, or quantitative methods. Many courses are taught online, by the same well-known faculty that teach on campus. Graduates with an MS in Applied Economics have skills in analyzing and interpreting data, constructing economic models, and economic reasoning. Johns Hopkins is ranked No. 10 in National Universities by U.S. News & World Report and No. 25 in Top Colleges by Forbes.

Net Price: $29,066
Score: 90.3

4. Georgia Southern University – Statesboro, GA

Master of Science in Applied Economics

Website

The Master of Science in Applied Economics from Georgia Southern University can be completed in as few as five semesters. Students take only two courses per semester. This allows them to continue working as they earn the degree. This is also why all courses are offered entirely online, and GS does not require any campus visits. To ensure the online courses maintain the excellence of an on-campus degree, instructors receive certification for online teaching. They bring their experience and expertise to the curriculum, making it more relevant and applicable. Required courses in the program are Math for Applied Economics, Microeconomics, and Macroeconomics, and Applied Econometrics I and II. Students are then able to add on five courses of their choosing. They will graduate with a strong business foundation and an understanding of the impact of economics on local organizations, companies, government agencies, and more. GS is nationally ranked and listed among the top 150 Top Colleges in the South according to Forbes.

Net Price: $16,264
Score: 90.3

3. University of Missouri – Columbia – Columbia, MI

Master of Arts in Economics

Website

The University of Missouri-Columbia is ranked among the top 100 Best Value Schools by U.S. News & World Report and the top 200 America's Best Value Colleges by Forbes. This affordable program is offered entirely online. Students can complete the program in two years taking only one or two classes per semester for a total of 30 credit hours. Mizzou is accredited by the Higher Learning Commission. At Mizzou, students learn the essentials of banking, econometrics, economic development, international trade, monetary systems, quantitative theory, and macro and microeconomics. Mizzou encourages a hands-on experience through a required Research Workshop course. There are six required courses followed by four credits of electives. Students can choose from courses such as Introduction to Game Theory and The Economics of International Trade. Mizzou was named the No. 1 Top Public University in Missouri by Niche.

Net Price: $17,762
Score: 90.7

2. University of North Dakota – Grand Forks, ND

Masters of Science in Applied Economics

Website

Students at the University of North Dakota can specialize their Masters of Science in Applied Economics degree through research and electives. All students learn the basics of economic theory, mathematical economics, advanced statistical methods, and data analysis. They choose courses from among several electives, as well as completing core courses such as econometrics and micro and macroeconomics. Students also complete four courses in Data Analytics, such as Economic Forecasting and Time Series Methods and Application. As a final capstone, each student completes three credits of Independent Study. During this study, they will put into practice the theories and methods learned in the program to solve a substantive problem. This hands-on experience prepares graduates for careers in economic research, along with many others. The program can be completed entirely online, but it can also be completed as a hybrid program so that students can still gain the experience of on-campus education. UND is ranked as No. 2 in Best Colleges in North Dakota by Niche. U.S. News & World Report ranked it No. 31 in Best Online MBA Programs.

Net Price: $14,478
Score: 95.0

1. Purdue University – West Lafayette, IN

Master of Science in Economics

Website

Purdue University-Main Campus offers flexibility and affordability. The Master of Science in Economics can be personalized through one of three tracks: data analytics, applied economics, or a track designed specifically for students interested in continuing on to a Ph.D. in economics, management, or political science. Students can also specialize in Business and Data Analytics, Financial Economics, Public Economics, and Policy, or Advanced Theory. The program can be completed as a hybrid program with the benefits of the on-campus experience and the flexibility of an online degree. It can also be completed entirely online for students with busy schedules, or entirely on-campus. Students can complete the 30 credit program in 20 to 36 months as either full-time or part-time students. There are six core courses which cover theoretical and applied concepts, as well as required courses for each specialization. Purdue University is named the No. 1 Top Public University in Indiana by Niche. It's also ranked as the No. 6 Most Innovative School on U.S. News & World Report, and it's ranked No. 40 in Money's Best Colleges for your Money.

Net Price: $12,117
Score: 100.0