What is Economics?
If you're seeking an economics degree in Alaska, one excellent option available to you is online programs. With their convenient learning platform and flexible study times and locations, online degrees provide the freedom and flexibility that helps balance education with other responsibilities such as work or parenting responsibilities. This can be especially useful in states such as Alaska, which includes some very remote regions and has few state or community colleges to ensure that students can find the program they are interested in. While you can earn an in-person degree in a major city or in another state, an online option may be more accessible for many.
Featured Online Programs
Why Choose an Online Economics Degree?
Whether just getting started as undergraduate students or aiming to gain more education through a graduate degree, availing yourself of an online economics degree offers several distinct advantages. First and foremost is the convenience - being able to study from anywhere at your own pace makes online learning ideal whether you're an on-the-go professional, parent, or have other obligations; you can often log into your virtual classroom at any time to access course materials, join discussions, and submit assignments according to your own timetable.
Second, earning a degree in economics opens numerous career options in fields like government, business, and finance. An online economics degree gives you access to knowledge and skills needed for success in these industries and more - typically including microeconomics, macroeconomics, econometrics statistics, and financial analysis. This should give you the skills required to work as an economist, financial analyst, market research analyst, or policy analyst.
Online economics programs may also provide interactive learning experiences, such as simulations and case studies, to apply theories and concepts from economics theory to real-life situations. You'll also have the chance to connect with a diverse international community of students and professionals, which can only enhance your experience and broaden perspectives on economic issues. Finally, economics offers diverse career options with plenty of employment prospects for graduates.
Accredited Schools for Economics in Alaska
When seeking an online degree in Alaska schools or institutions in nearby states, selecting an accredited program is of utmost importance. Accreditation ensures the program meets high quality standards and your degree will be recognized by employers and other institutions. When researching potential programs, you should first ensure that the program has regional accreditation. You can also look for those accredited by respected agencies, like AACSB, that guarantee it has undergone stringent evaluation and meets criteria necessary for providing an outstanding education in economics.
By selecting accredited online degrees in economics, you can be assured of its curriculum, faculty members, and overall educational experience. Accredited programs usually boast expert faculty in their respective field who can offer invaluable guidance during studies.
Selecting an accredited online economics degree program not only ensures quality education but can also boost your professional prospects. With an accredited degree under your belt, you may gain an edge in the job market and may gain access to additional career opportunities. Employers typically prioritize candidates who possess degrees from accredited programs as these demonstrate commitment to excellence while offering solid knowledge of economic principles and practices.
| Accrediting Agency | |
|---|---|
| Association to Advance Collegiate Schools of Business (AACSB) | AACSB is one of the most prestigious accrediting agencies for business and economics programs. |
| Northwest Commission on Colleges and Universities (NWCCU) | NWCCU is recognized as a reliable accrediting agency for higher education institutions in the Northwest region of the United States. |
Online Economics Degree Level Options
Online Associates
An associate degree in economics can open up a world of possibilities for individuals interested in understanding the complex dynamics of markets and economies. With courses focusing on microeconomics, macroeconomics, statistics, and business finance, students gain a comprehensive foundation in economic principles that can be applied to various industries. The curriculum often includes classes on economic theory, policy analysis, and global economics to provide a well-rounded education.
Beyond the traditional coursework, many associate degree programs offer specialized courses in areas such as environmental economics, behavioral economics, and development economics. These courses delve deeper into specific topics within the field, allowing students to explore their interests and develop expertise in niche areas of economics. In addition to theoretical knowledge, students also have opportunities to engage in practical projects and case studies that simulate real-world economic scenarios. This hands-on approach not only enhances learning but also equips students with valuable analytical and problem-solving skills essential for success in the field of economics.
National Online Rankings - Top 25 AS Economics ProgramsOnline Bachelors
When pursuing a bachelor's degree in economics, students can expect to delve into a wide array of courses that offer a comprehensive understanding of the field. From micro and macroeconomics to econometrics and game theory, each course plays a vital role in shaping students' analytical skills and decision-making abilities. Additionally, courses focusing on monetary policy, international trade, and behavioral economics provide valuable insights into real-world applications of economic theories.
One particularly intriguing aspect of studying economics is the opportunity to explore interdisciplinary courses that blend economic principles with other disciplines such as finance, sociology, or even environmental studies. This multidisciplinary approach not only broadens students' perspectives but also equips them with versatile skills that are highly sought after in today's job market. With an emphasis on critical thinking and problem-solving, these courses challenge students to think creatively and apply their knowledge to complex societal issues.
National Online Rankings - Top 25 BS Economics ProgramsOnline Masters
As soon as you've earned your bachelor's degree in economics, the next step may be graduate studies. Graduate programs provide opportunities for deeper exploration of economic theories, quantitative analysis, and research methodologies, as well as providing advanced coursework that allows for specialization in training, teaching, or research - allowing you to expand on specific aspects of your economics knowledge. You may choose a master's degree in economics program, or you could earn a Master of Business Administration (MBA) with a specialization in economics.
A master's degree provides a thorough grounding in economic principles and their applications. These programs typically last two years and may involve the completion of a thesis or research project. With this degree you could pursue careers such as research, policy analysis, consulting, or academia.
Doctoral programs in economics offer those seeking to advance their knowledge and expertise the perfect way to do just that. They provide learning in advanced research methodologies and opportunities to make ground-breaking contributions to the field. These four- to six-year programs often culminate in the submission of a dissertation and can open doors to academic positions at universities or research institutes, government agencies, or in the private sector.
| Economics Degree | Duration | Potential Career Paths |
|---|---|---|
| Master's in Economics | 2 years | Researcher, Policy Analyst, Economist |
| Ph.D. in Economics | 4-6 years | Professor, Researcher, Economist |
Steps to Become an Economist
Becoming an economist opens doors to a rewarding career in understanding and shaping economies. The journey starts with earning a bachelor's degree in economics or a related field like mathematics or finance. This foundational education equips you with essential knowledge in microeconomics, macroeconomics, and econometrics.
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Earn a Bachelor's Degree
Start by earning a bachelor's degree. Although a degree in economics is ideal, related fields such as finance, accounting, or mathematics are also valuable.
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Pursue a Master’s Degree
A master’s degree often focuses on specialized areas like econometrics or international economics. This step is crucial for higher-level positions.
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Gain Professional Experience
Seek internships or entry-level positions. Working as a financial researcher or assistant to an economist helps you gain practical experience.
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Consider a PhD
For advanced research and academic roles, consider earning a PhD. This typically involves extensive research and defending a dissertation.
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Develop Necessary Skills
Economists need strong analytical skills, proficiency in statistics, and familiarity with economic software. Courses in microeconomics, macroeconomics, and statistics are essential.
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Stay Updated
Stay informed about current economic trends and policies. Regularly read economic journals and attend relevant conferences.
By following these steps, you can build a solid foundation to become a successful economist.
Get Matched With Economics Colleges
Potential Career Paths for Graduates
Earning a degree in economics opens doors to many exciting career possibilities in Alaska and elsewhere such as working for government institutions, financial firms, consulting firms, or research organizations. Economics offers varied and rewarding pathways.
Here are some common career options for graduates with an economics degree
- Economic Analyst: Analyze market trends and provide insights to businesses
- Credit Risk Manager: Assess and manage credit risks for financial institutions
- Financial Advisor: Provide guidance to individuals and businesses on financial decisions
- Policy Analyst: Analyze economic policies and their impact on society
- Research Economist: Conduct economic research and studies
These are just a few of the numerous career options open to economics graduates. Professionals with strong economics knowledge are in great demand, so your degree program could make you stand out on the job market.
| Career Path | Median Salary |
|---|---|
| Economic Analyst | $72,830 |
| Credit Risk Manager | $101,900 |
| Financial Advisor | $92,940 |
| Policy Analyst | $75,830 |
| Research Economist | $85,600 |
Here are a few examples:
- Economist:
They conduct economic research, analyze data, and provide insight on economic trends and policies. - Financial Analyst:
These professionals evaluate investment opportunities, assess company financial performance, and provide recommendations to aid decision making on matters of finance. - Data Analyst:
They gather, interpret, and organize data to discover patterns, trends, and correlations that can inform business strategies and decision-making processes. - Policy Analyst:
These specialists evaluate government policies' effects on economic conditions while providing advice for improving them. - Market Research Analyst:
They will develop effective marketing strategies by collecting and analyzing market data to help businesses better understand consumer preferences, assess opportunities for expansion in markets, and develop successful marketing strategies.
As these examples demonstrate, economics graduates have many career options available to them. With their acquired skills and knowledge from an economics degree program online, graduates can find success across industries and organizations. Here is just some of the outlook data for career options.
| Career | Median Annual Salary | Job Outlook |
|---|---|---|
| Economist | $113,940 | 6% (Faster than average) |
| Financial Analyst | $96,220 | 8% (Faster than average) |
| Data Analyst | $62,920 | 25% (Much faster than average) |
| Policy Analyst | $58,760 | 6% (Faster than average) |
| Market Research Analyst | $68,230 | 13% (Much faster than average) |
Note: Salary and job outlook data is sourced from the US Bureau of Labor Statistics (BLS).
Salary Potential with an Economics Diploma
One of the major considerations when enrolling in an online economics degree is salary potential in this field. According to the Bureau of Labor Statistics, economists typically make around $80,000 annually, on average. However, this amount could change depending on factors like job title, experience level, location, industry, etc.
While Alaska economists typically earn a median wage of $98,040 annually, those in the top 10% could make more than $125,000 per year. Entry-level economists or those working in less senior positions will initially make lower salaries; however, with experience comes potential for advancement and value addition to an organization.
As economists are employed in various industries, their salary potential can differ depending on where they work. For instance, those employed by federal governments or research and development positions tend to earn higher salaries compared to state governments or consulting roles. Additionally, economists who live or work in metropolitan areas may earn more than those in more rural areas.
| Industry | Median Annual Wage |
|---|---|
| Federal Executive Brank of Government | $133,220 |
| Scientific Research and Development | $124,060 |
| Securities, Commodity Contracts, and other Financial Investments and Related Activities | $197,400 |
| Management, Scientific, and Technical Consulting Services | $152,330 |
| State Government (Excluding schools and hospitals) | $80,850 |
As you can see from the table above, pursuing an economics degree can offer promising salary potential. While the median annual wage for economists is roughly $80,000, there may be opportunities for even higher earnings with experience and specialization. It is essential to take factors such as industry, location, and job level into consideration when assessing salary potential and making career decisions.
Choosing the Right Program
Finding the appropriate online economics degree program can be daunting, with so many available programs and options it’s crucial that you carefully consider all the potential variables before making a final choice.
- Accreditation
Prior to choosing any program, ensure it has been accredited by an authoritative body. Accreditation demonstrates the program meets rigorous quality standards and will be recognized by employers and other institutions; look for programs certified by organizations like the Association to Advance Collegiate Schools of Business (AACSB) for top notch options, but always be sure that any school you choose is regionally accredited; regional accreditation in Alaska is offered from the Northwest Commission on Colleges and Universities (NWCCU). - Curriculum and Specialization Options
Take time to carefully consider each program's curriculum and course offerings in terms of your interests and career aspirations. Look for programs offering specialization opportunities or courses related to areas that pique your curiosity so that you can tailor your education toward achieving your specific career aspirations while simultaneously building expertise in an area you find appealing. - Flexibility and Support Services
Take into account both the flexibility of the program and support services offered to online students. While online learning offers the convenience of studying from anywhere at your own pace, it's also crucial that it provides adequate resources and support to help ensure success. Look for programs offering robust online learning platforms, access to faculty advisors, as well as comprehensive student support services.
Consider these factors and conduct thorough research so you can select an online economics program in Alaska that best meets your needs and puts you on the path toward future career success.
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Financial Aid and Scholarships
As you pursue a traditional or online economics degree, you may be searching for financial assistance options to make the degree more cost-effective. There are various financial aid programs and scholarships available that can help offset tuition and related expenses. Colleges and universities may provide packages designed specifically to students pursuing online degrees; this will give you all the support you need in pursuing your educational goals.
Financial aid options should always be explored thoroughly, and you should start by filling out the Free Application for Federal Student Aid (FAFSA). This form determines your eligibility for grants, loans, and work-study programs administered by federal institutions; timely submission is key in accessing various forms of aid.
In addition to federal aid, economics students may also qualify for scholarships specifically dedicated to them. Such grants can be found both nationally and locally - so take the time to research these opportunities and your chances of securing additional financial support for an online economics degree are sure to increase.
Read our Financial Aid GuideFrequently Asked Questions
What are the advantages of an online economics degree?
An online economics degree offers greater flexibility when it comes to location and pace of study, allowing you to balance education with other responsibilities more easily while opening many career possibilities across government, business, and finance fields.
Why is selecting an accredited program essential when seeking an economics degree?
Accreditation guarantees that a program meets high quality standards and that your degree will be recognized by employers and other institutions.
What career options exist with an economics degree?
Graduates with economics degrees can pursue careers in government agencies, financial institutions, consulting firms, research organizations, or the private sector as economic analysts, credit risk managers, or financial advisors.
What are the salary prospects of graduates holding economics degrees?
According to the Bureau of Labor Statistics, economists typically make around an annual median wage of approximately $80,000, and they earn more in Alaska, though there are fewer roles than in many other states. Salaries may differ based on many factors like job title, experience level, location, and industry.
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