Online Economics Degree Programs

An online economics degree provides students with the opportunity to begin a lucrative career path in a variety of economics related areas. The principles of economics can be applied to a variety of different careers and students can choose from a numerous amount of degree options and specialties. Advanced economics degrees lead to more job prospects in a many different areas such as government or academia. Read more about online economics degree programs.

Some Stats

In 2006, there were 23,916 bachelor degrees, 2,962 master degrees, and 941 doctorate degrees conferred in economics (1). In 2006, economists held 15,000 jobs, with 52% employed in government positions and the rest distributed in the private industry such as scientific research (2). A report by MSN states the starting salary for college graduates with a bachelor degree in economics is $47,326 and $63,429 for those with a master degree in economics (3).

Employment Outlook

Employment outlook varies depending on degree and position, but the employment of economists is expected to grow as fast as average for all professions through the year 2016, increasing 7% and creating 1,100 new jobs (2). According to another BLS report, many economics related careers have the largest projected employment growth from 2006 to 2016 (4).

Specialties

There are a wide variety of economics specialties for students who wish to pursue a graduate degree in economics. The specialties include microeconomics, macroeconomics, econometrics, international economics, labor economics, advanced economics theory, marketing and survey research, applied economics, industrial organization, and public finance. These specialties provide an abundance of career opportunities. Students who are interested in graduate economics education should select graduate schools that are strong in the specialties of the student’s interest.

What to Expect

A bachelor degree in economics is intended to give students the core skills for an economics career. It focuses on humanities majors while enabling students to develop importance analytical and mathematics abilities. It requires general education courses such as English, history, mathematics, science, and electives. The specific core courses include advanced mathematics, microeconomics, mathematical economics, economic theory, macroeconomics, statistics, data analysis, statistical analysis, and financial reporting. The master degree immerses students in specialties and gives students opportunities for research and to work closely on projects. The doctorate degree gives students a chance to fully develop their research and analysis abilities to prepare them for careers in government or academia. Students pursing PhD degrees focus on specific areas and specialties.

The End Result

A bachelor degree in economics provides a wide variety of career opportunities. Careers in the business and finance field are the most common, but economics graduate also pursue successful careers in medicine, law, government, international relations, academia, and non-profit organizations. Graduate degrees provide an even more abundance of career options and enable graduates to pursue higher positions with larger salaries. Career opportunities include:

Financial Economist
Business Journalist
Macroeconomist
Microeconomist
Organizational Economist
Public Finance Economist
Industrial Economist
Appraiser
Commodities Trader
Loan Officer
Stockbroker
Budget Analyst
Economist

A career in the economics field will be rewarding for individuals who are critical thinkers and possess great quantitative skills. Graduates with economics degrees apply natural science theories and principles to the logic and concepts of mathematics. They use their skills in the business, humanities, and social sciences fields and apply them to their careers.

(1) SOURCE: U.S. National Center for Education Statistics, Digest of Education Statistics
(2) SOURCE: Bureau of Labor Statistics, Occupational Outlook Handbook 2008-2009 Edition
(3) SOURCE: MSN.careers, The 2008 Starting Salary by Degree: Bachelors vs. Masters Index
(4) SOURCE: Bureau of Labor Statistics, The 30 occupations with the largest employment growth: 2006-2009

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