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?

We’ve made the process easier for people who are seeking their M.Econ online. We’ve compiled a list of the 10 best online master’s in Economics degree. To help you sort through them we have provided specific criteria for each program. Each ranking will have information pertaining to pros and cons, a summary of the degree, as well as an overall OSR score. You’re almost there to getting that degree that will take you far and have you living comfortably.

  1. University of North Dakota

    Tuition in State/Out of State: $21,417/$33,017
    Acceptance89
    Earnings Potential66
    Online Presence1
    Online Program Quality13
    Retention82
    Student Satisfaction80
    Reputation100
    Pros
    • Only takes 2 years to complete
    • Hold “live” online classes
    • May have additional aid opportunities at graduate level
    Cons
    • GPA of 3.0 is required junior and senior years of undergraduate work
    • Requires official scores for GRE or GMAT
    • Total cost is higher than the national average
    100%OSR Score

    You’ll take “live” online classes and get to connect with your classmates through online tools. You’ll essentially be taking the same classes as a student there physically. You will need 30 credit hours for the non-thesis (34 for the thesis).

  2. Georgia Southern University

    Tuition in State/Out of State: $22,860/$33,646
    Acceptance81
    Earnings Potential59
    Online Presence1
    Online Program Quality66
    Retention80
    Student Satisfaction77
    Reputation99
    Pros
    • Ranked #1 for affordable colleges
    •  Program length is 2 years
    •  Asynchronous classes
    Cons
    • Graduation rate is at 50% 
    • Application fee is $50
    • Require competitive GRE scores
    99%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.

  3. Purdue University Global-Main Campus

    Tuition in State/Out of State: $21,612/$40,414
    Acceptance77
    Earnings Potential66
    Online Presence1
    Online Program Quality13
    Retention85
    Student Satisfaction73
    Reputation100
    Pros
    • Low minimum GPA of 2.7
    •  Provides synchronous or asynchronous formats
    •  $60 application fee
    Cons
    • Program length can go up to 3 years 
    • Relatively high tuition 
    • Minimum GPA for the program is 3.5
    93%OSR Score

    The program offers different study tracks including Applied Economics and Data Analytics. The number of credits required for graduation is 30 credit hours. The whole program can be completed in a little over a year and a half.

  4. Youngstown State University

    Tuition in State/Out of State: $22,447/$22,807
    Acceptance90
    Earnings Potential47
    Online Presence12
    Online Program Quality91
    Retention76
    Student Satisfaction84
    Reputation94
    Pros
    • Combined program for Bachelor’s & Master’s available
    • Ranks high on affordability scale
    • Also offers MA in Financial Economics
    Cons
    • Acceptance rate is 64%
    • May have to take a class not counted in semester hours
    • Fewer than 15 students enrolled
    88%OSR Score

    Youngstown State University is one of the few business schools that offers online MA program in Financial Economics. The number of credits required for graduation is 33. It’s program also doesn’t require any capstone (or thesis) projects.

  5. University of Detroit Mercy

    Tuition in State/Out of State: $59,152/$59,152
    Acceptance89
    Earnings Potential55
    Online Presence1
    Online Program Quality13
    Retention79
    Student Satisfaction76
    Reputation88
    Pros
    •  Two instruction styles: synchronous or asynchronous
    •  Takes 2 years to complete program
    •  Have online resources for distance learners
    Cons
    • Graduation rate is at 62%
    • Fairly high tuition 
    • Undergrad preferred in economics or business
    84%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.

  6. Ohio University-Main Campus

    Tuition in State/Out of State: $28,256/$37,720
    Acceptance95
    Earnings Potential71
    Online Presence1
    Online Program Quality13
    Retention74
    Student Satisfaction73
    Reputation86
    Pros
    • Instruction format is synchronous
    • Have been accredited for 72 years
    • GRE/GMAT not required
    Cons
    • Program lacks versatility
    • Graduation rate is at 64% 
    • Must take a minimum of 50 credit hours for MFE
    82%OSR Score

    This program is specifically designed for certification as Chartered Financial Analysts (CFAs). Thirty-six credits are required for graduation. This school also has a high retention rate for full-time students at 80 percent.

  7. West Texas A & M University

    Tuition in State/Out of State: $22,282/$23,553
    Acceptance92
    Earnings Potential55
    Online Presence23
    Online Program Quality68
    Retention81
    Student Satisfaction85
    Reputation84
    Pros
    • Can get GMAT score waived  
    • Can revieve individualized plan of study
    • Low tuition ($80/credit in-state $50/credit out of state)
    Cons
    • Usually can’t finish earlier than 2 years
    •  Graduation rate at 41%
    •  Must have minimum of 3.0 GPA for undergrad
    81%OSR Score

    In this program, you’re able to earn both your MS in Finance and Economics in one program. Thirty-six credits are required for graduation. This school also offers the instruction format of synchronous or asynchronous.

  8. Johns Hopkins University

    Tuition in State/Out of State: $65,005/$65,005
    Acceptance77
    Earnings Potential48
    Online Presence1
    Online Program Quality13
    Retention79
    Student Satisfaction74
    Reputation82
    Pros
    • Can substitute required coursework with CLEP exam or AP exam
    • Can pursue part or full-time
    • Graduation rate at 93%
    Cons
    • High tuition costs
    • Highly competitive to get in
    • Application fee is $75
    80%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.

  9. American University

    Tuition in State/Out of State: $64,234/$64,234
    Acceptance67
    Earnings Potential33
    Online Presence1
    Online Program Quality13
    Retention63
    Student Satisfaction82
    Reputation80
    Pros
    • GRE isn’t required
    • Can take as little as 1.5 years to complete
    • Placement rate for program is almost at 100%
    Cons
    • Will have to take a capstone course
    • Must have completed Calculus I or CLEP exam
    • Only admitted 46% of students
    78%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.

  10. Southern New Hampshire University

    Tuition in State/Out of State: $50,266/$50,266
    Acceptance62
    Earnings Potential67
    Online Presence1
    Online Program Quality13
    Retention89
    Student Satisfaction74
    Reputation79
    Pros
    • 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
    Cons
    • $150 graduation fee
    • Graduation rate is at 49%
    • Costs $1,881 per course
    77%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.