Master in Economics

A master in economics degree is a graduate level degree program. This program will introduce you to advanced training in applied economics, econometrics, and economic theory. A master's degree in economics program will provide you with knowledge in gender analysis in economics, applied economics, development economics, and financial economics policies. The economics master's degree program also exposes students to coursework in international economics, labor economics, and industrial economics. This program may also be used as a stepping stone towards a doctoral program in economics. Some universities and colleges across the US may give you the option to complete this degree online, on-campus, or as a hybrid program. These options will depend on your choice of university or college.

Prerequisites for Admission
You may be required by the university or college at which you are applying to fulfill their criteria for this program. Program requirements may vary from university to university, but there may be some similar prerequisites that include:

  • A bachelor's degree from an accredited university or college, preferably in economics or a related subject
  • Normally, a GPA of 3.0 or above is required
  • GRE or GMAT test scores
  • Proof of English language proficiency in some cases, such as for international students
  • Letters of recommendation
  • Official transcripts from previous institutions attended

Coursework and Curriculum
The curriculum is designed to provide you with advanced knowledge of public policy, economic analysis, and the application of economic theory to real-world scenarios. The coursework aims to enhance and help you gain certain qualities such as writing skills, detail orientation, communication skills, mathematics skills, critical analysis, and in-depth thinking skills. Courses may vary from university to university, but core courses may include:

  • Macroeconomics
  • Global Market and Economy
  • Microeconomics
  • Political Economy
  • Economic History
  • History of Economic Ideas
  • History of United States Economy
  • Econometrics
  • Social Choice and Economic Justice
  • Money, Finance, and Banking in the Global Economy
  • Public Economics
  • Game Theory
  • Comparative Economic Systems
  • Microeconomic and Macroeconomic Development
  • International Economics
  • Labor Economics
  • Mathematical Economics
  • Applied Econometrics

Career Outlook
After you successfully complete your master in economics degree program, one option you could choose to pursue is enrolling in a doctoral program in economics. On the other hand, according to the US Bureau of Labor Statistics (BLS), the minimum requirement for you to become an economist is at least a master's degree in economics. As an economist you may collect data, analyze economic problems, and research for their solutions.

The BLS also stated that the median salary of economists in the US was $91,860 per year in 2012. The BLS also projected that the number of people working as economists would increase by 14 percent from 2012 to 2022, which is about as fast as the average of all occupations.


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