What is Economics?


Pursuing a traditional or online economics degree in Massachusetts can offer a blend of reputable institutions and diverse opportunities that align with both academic and career objectives. In 2024, students looking to immerse themselves in economics education can choose from a variety of online programs that emphasize both theoretical frameworks and practical applications. The state is home to schools renowned for their rigorous economic curricula which has received high ratings from students and educational forums alike. With such a competitive landscape, Massachusetts stands as a vibrant educational hub for potential economists.

Featured Online Programs

Top Ranked Campus & Online Economics Programs in Massachusetts


1
  • Undergraduate Tuition
    • In-State: $60,156
    • Out-of-State:$60,156
  • Net Price: $20,232
  • Acceptance Rate: 4%
  • Retention Rate: 99%
  • Graduation Rate: 95%
  • Total Enrollment: 11,858
  • Undergrad Students: 4,657
  • Graduate Students: 7,201
  • Grads Salary: $118,000
  • Student-to-faculty: 3:1
  • Massachusetts Institute of Technology
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2

Harvard University

Score: 88.77

  • Undergraduate Tuition
    • In-State: $59,076
    • Out-of-State:$59,076
  • Net Price: $19,491
  • Acceptance Rate: 3%
  • Retention Rate: 98%
  • Graduation Rate: 98%
  • Total Enrollment: 30,631
  • Undergrad Students: 9,368
  • Graduate Students: 21,263
  • Grads Salary: $96,000
  • Student-to-faculty: 7:1
  • Harvard University
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3

Amherst College

Score: 84.5

  • Undergraduate Tuition
    • In-State: $67,280
    • Out-of-State:$67,280
  • Net Price: $21,367
  • Acceptance Rate: 7%
  • Retention Rate: 95%
  • Graduation Rate: 92%
  • Total Enrollment: 1,898
  • Undergrad Students: 1,898
  • Graduate Students: N/A
  • Grads Salary: $92,000
  • Student-to-faculty: 7:1
  • Amherst College
4

Williams College

Score: 83.9

  • Undergraduate Tuition
    • In-State: $64,860
    • Out-of-State:$64,860
  • Net Price: $20,965
  • Acceptance Rate: 8%
  • Retention Rate: 97%
  • Graduation Rate: 95%
  • Total Enrollment: 2,222
  • Undergrad Students: 2,169
  • Graduate Students: 53
  • Grads Salary: $86,000
  • Student-to-faculty: 6:1
  • Williams College
5

Wellesley College

Score: 81.24

  • Undergraduate Tuition
    • In-State: $64,320
    • Out-of-State:$64,320
  • Net Price: $21,362
  • Acceptance Rate: 14%
  • Retention Rate: 95%
  • Graduation Rate: 90%
  • Total Enrollment: 2,447
  • Undergrad Students: 2,447
  • Graduate Students: N/A
  • Grads Salary: $85,000
  • Student-to-faculty: 7:1
  • Wellesley College
6

Tufts University

Score: 78.04

  • Undergraduate Tuition
    • In-State: $67,844
    • Out-of-State:$67,844
  • Net Price: $30,479
  • Acceptance Rate: 10%
  • Retention Rate: 96%
  • Graduation Rate: 94%
  • Total Enrollment: 13,431
  • Undergrad Students: 6,815
  • Graduate Students: 6,616
  • Grads Salary: $87,000
  • Student-to-faculty: 10:1
  • Tufts University
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7

Boston University

Score: 76.56

  • Undergraduate Tuition
    • In-State: $65,168
    • Out-of-State:$65,168
  • Net Price: $27,829
  • Acceptance Rate: 14%
  • Retention Rate: 94%
  • Graduation Rate: 89%
  • Total Enrollment: 36,714
  • Undergrad Students: 18,459
  • Graduate Students: 18,255
  • Grads Salary: $85,000
  • Student-to-faculty: 11:1
  • Boston University
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8

Boston College

Score: 75.42

  • Undergraduate Tuition
    • In-State: $67,680
    • Out-of-State:$67,680
  • Net Price: $30,559
  • Acceptance Rate: 17%
  • Retention Rate: 95%
  • Graduation Rate: 91%
  • Total Enrollment: 15,287
  • Undergrad Students: 9,982
  • Graduate Students: 5,305
  • Grads Salary: $85,000
  • Student-to-faculty: 12:1
  • Boston College
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9
  • Undergraduate Tuition
    • In-State: $63,141
    • Out-of-State:$63,141
  • Net Price: $35,827
  • Acceptance Rate: 7%
  • Retention Rate: 97%
  • Graduation Rate: 91%
  • Total Enrollment: 30,013
  • Undergrad Students: 16,302
  • Graduate Students: 13,711
  • Grads Salary: $87,000
  • Student-to-faculty: 16:1
  • Northeastern University
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10

Smith College

Score: 72.35

  • Undergraduate Tuition
    • In-State: $61,568
    • Out-of-State:$61,568
  • Net Price: $30,790
  • Acceptance Rate: 23%
  • Retention Rate: 91%
  • Graduation Rate: 89%
  • Total Enrollment: 2,873
  • Undergrad Students: 2,523
  • Graduate Students: 350
  • Grads Salary: $76,000
  • Student-to-faculty: 8:1
  • Smith College
11
  • Undergraduate Tuition
    • In-State: $17,357
    • Out-of-State:$39,293
  • Net Price: $22,291
  • Acceptance Rate: 64%
  • Retention Rate: 90%
  • Graduation Rate: 83%
  • Total Enrollment: 32,229
  • Undergrad Students: 24,391
  • Graduate Students: 7,838
  • Grads Salary: $82,000
  • Student-to-faculty: 18:1
  • University of Massachusetts-Amherst
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12

College of the Holy Cross

Score: 70.78

  • Undergraduate Tuition
    • In-State: $60,850
    • Out-of-State:$60,850
  • Net Price: $34,679
  • Acceptance Rate: 36%
  • Retention Rate: 95%
  • Graduation Rate: 91%
  • Total Enrollment: 3,083
  • Undergrad Students: 3,083
  • Graduate Students: N/A
  • Grads Salary: $78,000
  • Student-to-faculty: 10:1
  • College of the Holy Cross
13
  • Undergraduate Tuition
    • In-State: $16,570
    • Out-of-State:$35,396
  • Net Price: $17,240
  • Acceptance Rate: 86%
  • Retention Rate: 84%
  • Graduation Rate: 71%
  • Total Enrollment: 17,153
  • Undergrad Students: 12,389
  • Graduate Students: 4,764
  • Grads Salary: $82,000
  • Student-to-faculty: 17:1
  • University of Massachusetts-Lowell
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14
  • Undergraduate Tuition
    • In-State: $59,070
    • Out-of-State:$59,070
  • Net Price: $46,876
  • Acceptance Rate: 57%
  • Retention Rate: 91%
  • Graduation Rate: 89%
  • Total Enrollment: 7,308
  • Undergrad Students: 5,246
  • Graduate Students: 2,062
  • Grads Salary: $95,000
  • Student-to-faculty: 13:1
  • Worcester Polytechnic Institute
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15

Bentley University

Score: 67.75

  • Undergraduate Tuition
    • In-State: $58,150
    • Out-of-State:$58,150
  • Net Price: $44,233
  • Acceptance Rate: 58%
  • Retention Rate: 91%
  • Graduation Rate: 88%
  • Total Enrollment: 5,165
  • Undergrad Students: 4,131
  • Graduate Students: 1,034
  • Grads Salary: $91,000
  • Student-to-faculty: 12:1
  • Bentley University
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16

Simmons University

Score: 67.61

  • Undergraduate Tuition
    • In-State: $45,538
    • Out-of-State:$45,538
  • Net Price: $24,423
  • Acceptance Rate: 76%
  • Retention Rate: 81%
  • Graduation Rate: 74%
  • Total Enrollment: 5,710
  • Undergrad Students: 1,788
  • Graduate Students: 3,922
  • Grads Salary: $75,000
  • Student-to-faculty: 7:1
  • Simmons University
17

Assumption University

Score: 67.3

  • Undergraduate Tuition
    • In-State: $49,414
    • Out-of-State:$49,414
  • Net Price: $28,911
  • Acceptance Rate: 82%
  • Retention Rate: 83%
  • Graduation Rate: 72%
  • Total Enrollment: 2,059
  • Undergrad Students: 1,704
  • Graduate Students: 355
  • Grads Salary: $86,000
  • Student-to-faculty: 11:1
  • Assumption University
18

Mount Holyoke College

Score: 66.84

  • Undergraduate Tuition
    • In-State: $64,142
    • Out-of-State:$64,142
  • Net Price: $35,765
  • Acceptance Rate: 40%
  • Retention Rate: 90%
  • Graduation Rate: 83%
  • Total Enrollment: 2,392
  • Undergrad Students: 2,193
  • Graduate Students: 199
  • Grads Salary: $75,000
  • Student-to-faculty: 9:1
  • Mount Holyoke College
19

Stonehill College

Score: 66.49

  • Undergraduate Tuition
    • In-State: $54,500
    • Out-of-State:$54,500
  • Net Price: $31,021
  • Acceptance Rate: 73%
  • Retention Rate: 89%
  • Graduation Rate: 79%
  • Total Enrollment: 2,543
  • Undergrad Students: 2,500
  • Graduate Students: 43
  • Grads Salary: $79,000
  • Student-to-faculty: 12:1
  • Stonehill College
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20

Clark University

Score: 65.35

  • Undergraduate Tuition
    • In-State: $55,160
    • Out-of-State:$55,160
  • Net Price: $32,053
  • Acceptance Rate: 50%
  • Retention Rate: 88%
  • Graduation Rate: 76%
  • Total Enrollment: 3,770
  • Undergrad Students: 2,389
  • Graduate Students: 1,381
  • Grads Salary: $73,000
  • Student-to-faculty: 9:1
  • Clark University
21

Brandeis University

Score: 64.94

  • Undergraduate Tuition
    • In-State: $64,946
    • Out-of-State:$64,946
  • Net Price: $45,565
  • Acceptance Rate: 39%
  • Retention Rate: 92%
  • Graduation Rate: 87%
  • Total Enrollment: 5,581
  • Undergrad Students: 3,687
  • Graduate Students: 1,894
  • Grads Salary: $80,000
  • Student-to-faculty: 10:1
  • Brandeis University
22
  • Undergraduate Tuition
    • In-State: $11,286
    • Out-of-State:$17,366
  • Net Price: $14,435
  • Acceptance Rate: 88%
  • Retention Rate: 75%
  • Graduation Rate: 59%
  • Total Enrollment: 5,311
  • Undergrad Students: 4,478
  • Graduate Students: 833
  • Grads Salary: $74,000
  • Student-to-faculty: 14:1
  • Worcester State University
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23
  • Undergraduate Tuition
    • In-State: $11,046
    • Out-of-State:$17,126
  • Net Price: $15,535
  • Acceptance Rate: 86%
  • Retention Rate: 72%
  • Graduation Rate: 56%
  • Total Enrollment: 6,554
  • Undergrad Students: 3,168
  • Graduate Students: 3,386
  • Grads Salary: $76,000
  • Student-to-faculty: 12:1
  • Fitchburg State University
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24

Western New England University

Score: 63.91

  • Undergraduate Tuition
    • In-State: $46,430
    • Out-of-State:$46,430
  • Net Price: $30,214
  • Acceptance Rate: 88%
  • Retention Rate: 78%
  • Graduation Rate: 67%
  • Total Enrollment: 3,430
  • Undergrad Students: 2,406
  • Graduate Students: 1,024
  • Grads Salary: $84,000
  • Student-to-faculty: 11:1
  • Western New England University
25

Wheaton College (Massachusetts)

Score: 63.74

  • Undergraduate Tuition
    • In-State: $62,080
    • Out-of-State:$62,080
  • Net Price: $32,863
  • Acceptance Rate: 79%
  • Retention Rate: 81%
  • Graduation Rate: 80%
  • Total Enrollment: 1,667
  • Undergrad Students: 1,667
  • Graduate Students: N/A
  • Grads Salary: $75,000
  • Student-to-faculty: 11:1
  • Wheaton College (Massachusetts)

The Economics Landscape of Massachusetts


In Massachusetts, you'll find a robust educational infrastructure for pursuing an economics degree. With revered institutions leading the way in economic thought and research, you are sure to engage with advanced theories and practical applications of economics. The curriculum of these programs typically encompasses both macroeconomic and microeconomic perspectives, preparing you for diverse career paths.

In Massachusetts, your economics education goes beyond the classroom. The state's economy is diverse, with significant contributions from technology, healthcare, education, finance, and biotechnology sectors. These industries demand economic proficiency in data analysis and strategic planning, skill areas that are often highlighted in the academic programs available.

If you're considering an advanced degree, an online master’s in economics or a related field might refine your expertise in resource economics — a field of growing importance given the state's commitment to sustainability and environmental resource management. By studying economics in Massachusetts, you are positioning yourself at the crossroads of academia and industry, preparing to meet the state's evolving economic demands.

Online Educational Pathways for an Economics Degree in Massachusetts


In Massachusetts, you have multiple online options to pursue an economics degree, whether you're starting out at an associate level or seeking advanced education in the field.

Online Associates (AS)

An associate degree in economics lays the foundation for your understanding of basic economic principles. Typically taking two years to complete, it can either prepare you for entry-level positions or transition to a bachelor's program. These programs can provide foundational understanding in this field, but are usually not comprehensive enough to prepare you for a career as an economist. You might instead start as a bookkeeper or in another accounting-style role.

UniversityHQ National Rankings - Top 25 Online Associates In Economics

Online Bachelors (BS)

In a bachelor’s degree in economics, you’ll delve into both theoretical approaches and practical applications of economics. Academic institutions offer comprehensive programs that may encourage you to complement your major with a minor or second major in related fields such as math, IT, or political science. However, a bachelor’s degree in economics is the minimum requirement to work directly in the field of economics. You might also find yourself in finance or accounting roles, but you will be prepared to not only find entry-level work but also to move up after you gain some experience.

UniversityHQ National Rankings - Top 25 Online Bachelors In Economics

Online Masters (MS)

If you aim for specialized roles or research opportunities, a master’s degree in economics equips you with advanced analytical and quantitative skills. Massachusetts hosts traditional and online programs that are recognized for their rigor and their focus on real-world economic issues. These programs usually take another 12-18 months to complete, but they are designed for busy working professionals to complete while continuing to work. Thus, you can advance your career without taking any time off.

UniversityHQ National Rankings - Top 25 Online Masters In Economics

Online Doctorate (PhD)

For those interested in an academic or research career, pursuing a PhD in economics is essential. These are intensive programs, where you contribute original research to the field of economics, often taking multiple years to complete. However, after completion, you’ll be ready to teach new economists the ropes and engage in research.

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Online Certifications

In addition to degrees, there are various economics certifications available that can enhance your expertise in specific areas of economics. These can be completed in a shorter timeframe and are offered by many educational institutions in Massachusetts. These include options such as Certified Economic Developer (CED), Certificate in Global Economics, Certified International Tax Analyst (CITA), and more.

Significance of Economics Education


When you choose to study economics in college, you're equipping yourself with an understanding of how the world works. This knowledge can make you a valuable partner across various sectors including public policy, academia, and industry.

Real-World Applications

As an economics graduate, you possess the analytical skills to interpret complex data and make informed decisions.

You can apply these abilities to:

  • Policymaking: Your grasp on economic principles can contribute to shaping effective economic policies.
  • Market Analysis: With economic knowledge, you can analyze market trends, aiding businesses in strategic planning.

Academic and Research Opportunities

Economics Department:

  • Your home for intellectual growth, often housing top-tier faculty and research facilities.
  • PhD in Economics: Pursuing a PhD in economics can open doors for you to contribute original research to the field, possibly teaching at the university level or leading academic think tanks.
  • Collaborations and Networks: Your economics department can provide you with access to valuable opportunities including conferences, seminars, and academic journals.

Financial Considerations


When pursuing an economics degree in Massachusetts, you should pay careful attention to the costs associated with your education. Your financial planning should include tuition fees and opportunities for scholarships and financial aid.

Tuition Fees

The cost of tuition for an economics degree varies significantly across institutions in Massachusetts.

Below is a general estimate of what you might expect to pay per academic year:

  • Public Universities: $26,000 on average
  • Private Universities: $55,800 on average

These figures are general estimates and can be higher based on the university's prestige and other fees.

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Scholarships and Financial Aid

Several universities offer Departmental Merit Scholarships for students. Some universities provide scholarships for eligible applicants who have completed a bachelor’s degree within the three previous years and are looking to earn a graduate degree. There are also a huge number of general and economics-focused scholarships, as well as those that are associated with student interests.

Furthermore, consider the following financial aid sources:

  • Federal and State Grants: Check eligibility for Pell Grants and state-specific grants
  • Institutional Scholarships: Research scholarships offered directly by your chosen institution
  • External Scholarships: Look for funding from companies, non-profit organizations, and industry groups related to economics

Remember to apply early for financial aid and scholarships, as funds are often limited and distributed on a first-come, first-served basis.

Preparing for an Economics Degree


As you set your sights on an economics degree in Massachusetts, the foundational steps you take can significantly influence your success in college-level economics courses.

High School Preparation

To prepare for an economics major, you should focus on taking a robust set of courses during high school that builds your analytical and quantitative skills.

Make sure your schedule includes:

  • Advanced Mathematics: Take courses up to calculus, if possible, to ensure you have the necessary quantitative skills.
  • Social Studies: Engage in classes like history and government to develop a solid understanding of societal structures.
  • Economics: If offered, enroll in an introductory economics course to gain basic economic principals and vocabularies.
  • Statistics: Acquire an understanding of how to interpret data, vital for economic analysis.

Completing these types of courses will not only enhance your college application but also give you a competitive edge when starting your economics curriculum.

Pre-College Programs

Pre-college programs in Massachusetts provide a glimpse into the university experience and help you build academic readiness.

Consider enrolling in summer programs that focus on:

  • Economic Theory: Learning fundamental economics concepts before entering college can ease the transition.
  • Mathematical Applications: Courses that apply math to real-world problems mirror the tasks you'll encounter as an econ major.

Research and apply to pre-college programs at universities that are known for their economics degrees. Participation in such programs demonstrates your commitment and can provide a smoother entry into a full-time economics program.

Admissions Process for Economics Programs


Embarking on a journey to obtain an economics degree in Massachusetts entails navigating a structured admissions process designed for what are sometimes highly competitive programs from universities or economics colleges. As you prepare your application, you should be aware of the intricate admission requirements and the stringent selection criteria.

Application Requirements

When applying for an economics program, your preparation should include:

  • Academic Background: You must hold a bachelor's degree in economics, economics and mathematics, or a closely related discipline.
  • Transcripts: Universities will request all your undergraduate transcripts to verify your academic history and performance.

Additionally, standardized tests such as TOEFL or IELTS scores may be required to demonstrate English language proficiency if you're an international student.

Selection Criteria

Universities in Massachusetts may use the following criteria to assess your suitability for an economics program:

  • Academic Excellence: A strong academic record, particularly in quantitative and economics-related coursework, is crucial.
  • Letters of Recommendation: You will need to submit letters that attest to your academic and professional capabilities.

Your potential to contribute to the field and your preparedness for advanced study in economics are also pivotal in the selection process.

The Student Experience in Massachusetts

Massachusetts can offer a robust educational environment for your pursuit of an economics degree. It's not just about the courses; it's about the community and connections you have the chance to build along the way.

Campus Life

In Massachusetts, campus life for students can be vibrant and academically stimulating. Your typical day could involve attending lectures from esteemed professors, engaging in group discussions, and participating in hands-on research. Facilities like well-stocked libraries and state-of-the-art study centers can strongly support your learning experience.

Your curriculum will likely involve a mix of theoretical and applied econ courses, laying a strong foundation in economic principles while encouraging you to explore their real-world applications.

Networking and Extracurriculars

Building a professional network is often crucial, and schools in Massachusetts put emphasis on connecting students with mentors and alumni. Joining economics clubs, attending seminars, and participating in departmental events are great ways for you to immerse yourself in the field. Extracurricular activities can also play a significant part, offering you avenues to apply academic knowledge to real-world scenarios, be it through internships, case competitions, or collaborative projects.

Potential Career Options and Salaries for Economics Graduates


Massachusetts offers diverse opportunities for economics graduates looking to enter the workforce. With your degree, you can explore lucrative career paths that capitalize on analytical and quantitative skills.

Data Scientist

Job description: As a data scientist, you will analyze large datasets to identify patterns, trends, and insights. Your economics background will be valuable in interpreting economic data and forecasting trends.

Requirements

  • Bachelors in business administration, Growth Potential 35% (Much faster than average)
  • Determine which data are available and useful for the project
  • Collect, categorize, and analyze data
  • Create, validate, test, and update algorithms and models
  • Use data visualization software to present findings

Median Salary: $103,500 per year

Economist

Job description: Your path to becoming an economist typically necessitates a deep understanding of economic theories and models. The role will have you analyzing economic issues and advising businesses or government bodies.

Requirements

  • Master's degree, Growth Potential 6% (Faster than average)
  • Research economic issues related to education, the labor force, international trade, and other topics
  • Conduct surveys and collect data
  • Analyze data using mathematical models, statistical tools, and other software
  • Interpret and forecast trends, such as of financial markets

Median Salary: $113,940 per year

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Financial Advisor

Job description: As a financial advisor, you will guide clients through financial planning and investment decisions. Economics majors excel in this role due to their understanding of markets and economic indicators.

Requirements

  • Bachelor's degree, Growth Potential 13% (Much faster than average)
  • Meet with clients to discuss their financial goals
  • Explain to potential clients the types of financial services they provide
  • Educate clients and answer questions about investment options and potential risks
  • Recommend investments to clients or select investments on their behalf

Median Salary: $95,390 per year

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Supply Chain Analyst

Job description: Your role as a supply chain analyst will involve enhancing logistical operations through data-driven decisions. Your economics expertise will be crucial in predicting market demand and managing supply chains effectively.

Requirements

  • Bachelor’s degree, Growth Potential 18% (Much faster than average)
  • Oversee product acquisition
  • Direct the allocation of materials, supplies, and products
  • Forecast and direct the alignment of a product’s demand and supply flows
  • Serve as a liaison between an organization and its suppliers or customers

Median Salary: $77,520 per year

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Frequently Asked Questions


What are the admission requirements for an economics degree in Massachusetts universities

For an economics degree, you typically need a strong academic record including coursework in economics, calculus, and statistics. While specific requirements may vary, competitiveness can be high, with Harvard having a reported acceptance rate of 6% for their economics program. Of course, Harvard is competitive on every front; other excellent MA programs are easier to gain entry to, if not easier to complete.

Can I complete an economics degree online at a Massachusetts university?

As with every other state, online programs continue to improve and be added in colleges and universities all over Massachusetts. Though online programs are not available everywhere for every major, there is every chance that one of your schools of interest will be offering an online option. If they do not offer whole programs, you can look for hybrid programs that will allow you some flexibility and still give you the chance to get to know your classmates and professors in a classroom environment. This can be the best of both worlds. Be sure to check with the economics department at your chosen school to see if they have online options available.

How does the workload of an online economics degree compare to a traditional degree?

The workload can vary between programs, but economics degrees are typically demanding across institutions. Institutions often emphasize both theoretical and applied research, suggesting a rigorous workload consistent with other top programs in the state. While some students see online programs as an opportunity to complete the easiest economics degree available, that’s not necessarily the case. Online education has come far in the last decade, and most online programs are similar, if not the same as, their off-line counterparts.

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