MBA in Economics

a mba in economics program focuses on techniques, concepts, and the development of tools useful in economics problem solving. in addition to the economics courses, this program integrates courses from finance, management, and accounting; and the program is appropriate for the needs of financial and economics communities. the mba in economics is divided into two broad categories: microeconomics and macroeconomics. microeconomics deals with the theory of market structures, individual consumers, and pricing policies. macroeconomics deals with unemployment, overall economic activity, inflation, monetary policy, and fiscal policy.

this mba program is designed to enhance the students' understanding of real-world economics, and introduce them to various related disciplines such as finance, human resources, accounting, marketing, and operations management. students may choose to enroll in this program as part-time or full-time students, but their enrollment status may change the amount of time they might need to finish the program.

admission requirements
if you choose to enroll in this mba program, then you may be asked to fulfill certain criteria in order to be considered. these requirements may vary from university to university, but common prerequisites may include the following:

  • a bachelor's degree from an accredited academic institution
  • personal statement
  • two or more letters of recommendation
  • professional resume
  • official transcripts from all previous institutions attended
  • gre or gmat test scores
  • an acceptable gpa, a gpa of 3.0 or above is preferred
  • proof of english language proficiency in some cases; toefl,ielts or pte test scores in the case of international students
  • some universities or colleges may also ask you to come in for an interview

applicants with a professional background in economics may be given preference during the admission process by some universities or colleges.

curriculum and coursework
the curriculum may be divided into microeconomics and macroeconomics. the microeconomics curriculum focuses studies at levels down to a company, a household, or an individual; while macroeconomics observes the economic system in a wider context, and how firms make choices based upon aggregate economic factors. the coursework focuses on how various elements such as inflation, foreign exchange, trade, and economic policies affect various decisions made by firms and individuals.

coursework may vary at each school, but core courses normally include the following:

  • firms and markets
  • money and banking
  • global economy
  • advanced microeconomics analysis
  • advanced macroeconomics analysis
  • international financial policy
  • economy and housing policies
  • monitory policy, central banks, and banks
  • current financial and economic policies
  • financial meltdowns and policy response
  • business strategies
  • theory of international trade

certifications
although not mandatory, certifications may help demonstrate your professional abilities and competency, and it may show employers your dedication to your profession. the market research association in the us provides the professional researcher certification for students. to acquire this certification, students must pass a rigorous examination administered by the body, be a member of a professional organization, and have at least 3 years of working experience as a market research analyst.

career outlook
after successfully completing the economics mba program, you could be eligible to apply for a position as a market research analyst. according to the us bureau of labor statistics (bls), the annual median salary of market research analysts was $60,300 in 2012. the bls also projected that the number of people working as market research analysts would grow by 32 percent from 2012 to 2022, which is must faster than the average of all occupations.

 

getting access to quality education can be tough, especially when you may be interested in a program offered in another country altogether. the cost of travel and moving to a new city can be quite expensive and could deter you from considering some schools. thankfully, distance learning degrees offer a way to bridge the gap between student and teacher.

what are distance learning degrees?
the concept is quite self-explanatory. distance learning programs involve students who are unable to physically attend a school, so they take classes online. students enroll in these programs much like they would at any other university, but the difference is in the way 'classes' are carried out. previously, students would receive lectures and assignments in class, and would have to complete assignments and turn them in to their professor in class. now, thanks to the internet, lectures and assignments may be completed through online systems which can be accessed from anywhere in the world, if you have a good internet connection and a reliable computer.

students are able to view, listen, or download lectures and work through the assignments at their own time, making it much more convenient than a campus-based option. these degrees are good for people who may be holding part-time or full-time jobs, and are looking for opportunities to improve their skill set for their job. it is also a good idea for those individuals who find the cost of education in another state or country too expensive, and are looking for relatively cheaper alternatives.

is there a catch?
while the concept of distance learning degrees seems appealing, you should be aware of some things. while some brick-and-mortar universities offer distance learning opportunities, they do not allow students to choose some majors under this category. you must make sure that an option is available for the program you wish to take before signing up for classes.

you are also encouraged to take caution when trying to find online distance learning opportunities. while there are several hundreds of options available, not all of them offer accredited degrees, and many of them may even be scams to steal your money. unaccredited degrees leave you at a disadvantage because they are not recognized professionally, putting your efforts to waste. before you apply to a program, check to see if it has been accredited by the united states department of education, or the council of higher education accreditation.

how many years will it take to complete these programs?
the duration of the program will depend entirely on the degree and your own commitments. an average mba degree, for instance, usually takes two years to complete. this can vary depending on whether you complete all the coursework on time or take time off in between semesters. most distance learning degrees are broken up into modules which must be completed to attain the final degree. that being said, most schools place a general overall deadline on your degree completion; this helps to prevent students from stretching out their studying indefinitely.

 

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