5 Best Online Master’s in Economics for 2020

A master’s in Economics puts you at the top of employers’ lists. The Best Online Master’s Degrees in Economics can help you get there. 

Many fields nowadays require a master’s degree. What better way to finish up your schooling then online on your own time? These online degree programs provide you with tremendous value.

Whether you’re looking to take the path of a consultant or market researcher, having a master’s makes a difference. It shows that you’ve mastered analyzing and forming conclusions. Many median salaries in this field are upwards of $100,000. 

What is an Economics Master’s degree?

Getting your master’s in Economics can offer you plenty of different opportunities. This degree will help you develop the analytical skills in industries such as business, banking, government, agriculture and even more. This degree is perfect for someone who can sort and interpret data and use mathematics to draw conclusions about their research.

You’ll also learn how to summarize and communicate this data to others, whether it be business leaders or even legislators. Studying economics at a graduate level can give you easier access (and higher pay) in jobs such as:

  • Economic Consultant
  • Public Sector Roles
  • Market Research Analyst

How much can you earn with a Master’s in Economics?

Now we’re getting into the fun part—how much you’ll make The median salary for an economist as of 2018 was $104,340 per year according to The Bureau of Labor Statistics.

This is higher than the median salary for those holding a graduate degree, which is at $78,000. If you’re looking for a career in a growing market, then an M.Econ may be your best bet. The projected growth of the field is 6 percent from 2016 to 2026, fairly moderate but favoring those with their master’s. Those working in the federal government earned the most with a median salary of $119,590.

What is required for a Master’s in Economics?

In order to get an M.Econ, you must fulfill certain requirements. Although you don’t need to have your Bachelor’s in Economics, you will need to have a certain background in coursework. Calculus is one of the highest prerequisites for getting your M.Econ. Good performance in math classes may also help you stand out in the application process. Most schools require an undergraduate GPA of at least 3.5. Some schools specifically want GRE scores, and they must be in the 80th percentile or higher for certain sections. 

What are the best Economics degrees?

OSR uses six data points: three school-wide and three program specific. For school-wide, OSR uses Student Satisfaction, Admission Rates, and the number of programs the school offers online. For program specific, OSR checks the Median Debt of graduates from that program, how many degrees are offered within that program’s umbrella department, and what percentage of students at that school graduated from that department.

The six statistics are displayed by each school. The sliding bar under each statistic represents how that school compares to other US institutions. “Not reported” means a school did not release that information to the US Department of Education. A more detailed description of the OSR process can be found on the methodology page.

  1. Johns Hopkins University

    Quick Facts

    • Tuition: $52,170(in state) / $52,170(out of state)
    • Can substitute required coursework with CLEP exam or AP exam
    • Can pursue part or full-time
    • Graduation rate at 93%

    School Wide

    Student Satisfaction73.40%
    Admission Rate13%
    Programs offered online6

    Program Level

    Median Debt$33,304
    Programs in Department4
    Popularity at School12.97%
    100%
    OSR Score

    This high ranking program allows you to start any semester including the summer. It requires 30 credits for graduation. This program also allows you to learn synchronous or asynchronous.

  2. American University

    Quick Facts

    • Tuition: $29,556(in state) / $29,556(out of state)
    • GRE isn’t required
    • Can take as little as 1.5 years to complete
    • Placement rate for program is almost at 100%

    School Wide

    Student Satisfaction74.40%
    Admission Rate29%
    Programs offered onlineNot Reported

    Program Level

    Median Debt$46,495
    Programs in Department2
    Popularity at School37.61%
    92%
    OSR Score

    This university maintains a high retention rate of 89%. The program only consists of 30 credit hours. Alumni are employed by places like the US Bureau of Labor Statistics and JP Morgan Chase.

  3. Southern New Hampshire University

    Quick Facts

    • Tuition: $18,810(in state) / $18,810(out of state)
    • Will know admission status within days of sending all required materials
    • Minimum GPA is 2.75
    • Can finish the program in as little as one year

    School Wide

    Student Satisfaction74.60%
    Admission Rate78%
    Programs offered online43

    Program Level

    Median Debt$41,000
    Programs in DepartmentNot Reported
    Popularity at School2.05%
    67%
    OSR Score

    The program at this school offers Environmental and Natural Resources Economics as concentrations. Thirty-six credits are required for graduation. This program also doesn’t require a thesis or capstone at the end of completion.

  4. Georgia Southern University

    Quick Facts

    • Tuition: $6,636(in state) / $26,518(out of state)
    • Ranked #1 for affordable colleges
    •  Program length is 2 years
    •  Asynchronous classes

    School Wide

    Student Satisfaction74.80%
    Admission Rate68%
    Programs offered online3

    Program Level

    Median DebtNot Reported
    Programs in Department1
    Popularity at School4.03%
    62%
    OSR Score

    This program offers online multimedia simulations and presentations in order to help students visualize and analyze data. 30 credits are required for graduation and tuition goes for $358 per credit. The university also has a high retention rate for full-time students.

  5. University of Detroit Mercy

    Quick Facts

    • Tuition: $28,422(in state) / $28,422(out of state)
    •  Two instruction styles: synchronous or asynchronous
    •  Takes 2 years to complete program
    •  Have online resources for distance learners

    School Wide

    Student Satisfaction72.40%
    Admission Rate65%
    Programs offered online1

    Program Level

    Median DebtNot Reported
    Programs in Department2
    Popularity at School1.04%
    62%
    OSR Score

    This program has accreditation by the Higher Learning Commission’s North Central Association of Colleges and Schools. Thirty credits (or 10 courses) are required for graduation. This school also doesn’t require GRE or GMAT scores.