What is Economics?
Minnesota is a state known for its strong economy and diverse industries. From agriculture to technology, Minnesota has a lot to offer in terms of job opportunities and economic growth.
According to the Bureau of Labor Statistics, Minnesota had approximately 3.0 million nonfarm jobs as of September 2021, including employment in healthcare, manufacturing, education and professional services sectors. Minnesota also held an unemployment rate below that of other states at 4.0% as of September 2021 - significantly less than its national counterpart of 5.0%.
Minnesota's economy is driven by multiple industries, with healthcare, manufacturing and technology all playing key roles. Healthcare is one of the state's primary drivers with numerous healthcare providers and facilities providing an array of medical services; manufacturing has long been an integral sector in Minnesota as companies produce everything from medical devices to food products.
Minnesota is also home to a thriving technology sector, with many companies specializing in software development, data analytics, and e-commerce. The state has a strong reputation for innovation and entrepreneurship, making it an attractive destination for tech talent and startups.
Minnesota remains economically robust, boasting steady job growth across various industries and providing opportunities in healthcare, manufacturing, technology or any other field imaginable. If you're seeking employment opportunities that offer long-term stability Minnesota presents many viable career choices to individuals looking for secure work environments.
Top Ranked Campus & Online Economics Programs in Minnesota
University of Minnesota-Twin Cities
Score: 86.96
- Undergraduate Tuition
- In-State: $16,488
- Out-of-State:$36,402
- Net Price: $16,018
- Acceptance Rate: 75%
- Retention Rate: 90%
- Graduation Rate: 84%
- Total Enrollment: 54,955
- Undergrad Students: 39,248
- Graduate Students: 15,707
- Grads Salary: $80,000
- Student-to-faculty: 16:1
Carleton College
Score: 86.31
- Undergraduate Tuition
- In-State: $65,457
- Out-of-State:$65,457
- Net Price: $31,494
- Acceptance Rate: 17%
- Retention Rate: 95%
- Graduation Rate: 91%
- Total Enrollment: 2,059
- Undergrad Students: 2,059
- Graduate Students: N/A
- Grads Salary: $79,000
- Student-to-faculty: 8:1
St. Olaf College
Score: 83.85
- Undergraduate Tuition
- In-State: $56,970
- Out-of-State:$56,970
- Net Price: $26,171
- Acceptance Rate: 56%
- Retention Rate: 90%
- Graduation Rate: 85%
- Total Enrollment: 3,046
- Undergrad Students: 3,046
- Graduate Students: N/A
- Grads Salary: $80,000
- Student-to-faculty: 12:1
University of Minnesota-Morris
Score: 81.39
- Undergraduate Tuition
- In-State: $14,288
- Out-of-State:$16,438
- Net Price: $11,169
- Acceptance Rate: 78%
- Retention Rate: 72%
- Graduation Rate: 58%
- Total Enrollment: 1,068
- Undergrad Students: 1,068
- Graduate Students: N/A
- Grads Salary: $76,000
- Student-to-faculty: 9:1
St. Catherine University
Score: 80.5
- Undergraduate Tuition
- In-State: $49,758
- Out-of-State:$49,758
- Net Price: $19,976
- Acceptance Rate: 93%
- Retention Rate: 83%
- Graduation Rate: 64%
- Total Enrollment: 3,577
- Undergrad Students: 2,404
- Graduate Students: 1,173
- Grads Salary: $82,000
- Student-to-faculty: 10:1
Macalester College
Score: 80.35
- Undergraduate Tuition
- In-State: $64,908
- Out-of-State:$64,908
- Net Price: $36,095
- Acceptance Rate: 28%
- Retention Rate: 91%
- Graduation Rate: 88%
- Total Enrollment: 2,175
- Undergrad Students: 2,175
- Graduate Students: N/A
- Grads Salary: $78,000
- Student-to-faculty: 10:1
Saint John's University
Score: 78.86
- Undergraduate Tuition
- In-State: $53,942
- Out-of-State:$53,942
- Net Price: $27,982
- Acceptance Rate: 86%
- Retention Rate: 86%
- Graduation Rate: 76%
- Total Enrollment: 1,645
- Undergrad Students: 1,528
- Graduate Students: 117
- Grads Salary: $81,000
- Student-to-faculty: 11:1
University of St. Thomas-St. Paul
Score: 77.48
- Undergraduate Tuition
- In-State: $52,284
- Out-of-State:$52,284
- Net Price: $30,137
- Acceptance Rate: 77%
- Retention Rate: 86%
- Graduation Rate: 80%
- Total Enrollment: 9,025
- Undergrad Students: 5,906
- Graduate Students: 3,119
- Grads Salary: $79,000
- Student-to-faculty: 13:1
Hamline University
Score: 75.38
- Undergraduate Tuition
- In-State: $48,311
- Out-of-State:$48,311
- Net Price: $23,021
- Acceptance Rate: 81%
- Retention Rate: 75%
- Graduation Rate: 69%
- Total Enrollment: 2,638
- Undergrad Students: 1,765
- Graduate Students: 873
- Grads Salary: $75,000
- Student-to-faculty: 13:1
University of Minnesota-Duluth
Score: 74.54
- Undergraduate Tuition
- In-State: $14,318
- Out-of-State:$19,762
- Net Price: $18,031
- Acceptance Rate: 81%
- Retention Rate: 77%
- Graduation Rate: 62%
- Total Enrollment: 9,675
- Undergrad Students: 8,810
- Graduate Students: 865
- Grads Salary: $73,000
- Student-to-faculty: 16:1
Saint Mary's University of Minnesota
Score: 74.12
- Undergraduate Tuition
- In-State: $43,160
- Out-of-State:$43,160
- Net Price: $22,843
- Acceptance Rate: 97%
- Retention Rate: 78%
- Graduation Rate: 65%
- Total Enrollment: 4,133
- Undergrad Students: 1,100
- Graduate Students: 3,033
- Grads Salary: $79,000
- Student-to-faculty: 17:1
Gustavus Adolphus College
Score: 73.83
- Undergraduate Tuition
- In-State: $54,310
- Out-of-State:$54,310
- Net Price: $30,297
- Acceptance Rate: 74%
- Retention Rate: 86%
- Graduation Rate: 76%
- Total Enrollment: 2,072
- Undergrad Students: 2,072
- Graduate Students: N/A
- Grads Salary: $72,000
- Student-to-faculty: 11:1
College of Saint Benedict
Score: 73.29
- Undergraduate Tuition
- In-State: $53,884
- Out-of-State:$53,884
- Net Price: $28,746
- Acceptance Rate: 88%
- Retention Rate: 89%
- Graduation Rate: 78%
- Total Enrollment: 1,470
- Undergrad Students: 1,443
- Graduate Students: 27
- Grads Salary: $69,000
- Student-to-faculty: 11:1
Augsburg University
Score: 72.64
- Undergraduate Tuition
- In-State: $43,942
- Out-of-State:$43,942
- Net Price: $25,409
- Acceptance Rate: 77%
- Retention Rate: 70%
- Graduation Rate: 56%
- Total Enrollment: 3,088
- Undergrad Students: 2,358
- Graduate Students: 730
- Grads Salary: $81,000
- Student-to-faculty: 14:1
Winona State University
Score: 72.28
- Undergraduate Tuition
- In-State: $10,498
- Out-of-State:$17,230
- Net Price: $18,187
- Acceptance Rate: 74%
- Retention Rate: 76%
- Graduation Rate: 60%
- Total Enrollment: 6,154
- Undergrad Students: 5,403
- Graduate Students: 751
- Grads Salary: $69,000
- Student-to-faculty: 16:1
Minnesota State University-Mankato
Score: 71.4
- Undergraduate Tuition
- In-State: $9,490
- Out-of-State:$18,860
- Net Price: $16,809
- Acceptance Rate: 71%
- Retention Rate: 76%
- Graduation Rate: 53%
- Total Enrollment: 14,590
- Undergrad Students: 12,676
- Graduate Students: 1,914
- Grads Salary: $73,000
- Student-to-faculty: 21:1
Bemidji State University
Score: 71.31
- Undergraduate Tuition
- In-State: $10,164
- Out-of-State:$10,164
- Net Price: $15,561
- Acceptance Rate: 78%
- Retention Rate: 71%
- Graduation Rate: 50%
- Total Enrollment: 4,023
- Undergrad Students: 3,677
- Graduate Students: 346
- Grads Salary: $71,000
- Student-to-faculty: 16:1
St. Cloud State University
Score: 71.24
- Undergraduate Tuition
- In-State: $10,117
- Out-of-State:$10,117
- Net Price: $14,065
- Acceptance Rate: 95%
- Retention Rate: 69%
- Graduation Rate: 44%
- Total Enrollment: 10,420
- Undergrad Students: 8,569
- Graduate Students: 1,851
- Grads Salary: $75,000
- Student-to-faculty: 16:1
Minnesota State University Moorhead
Score: 70.34
- Undergraduate Tuition
- In-State: $10,336
- Out-of-State:$10,336
- Net Price: $17,939
- Acceptance Rate: 57%
- Retention Rate: 72%
- Graduation Rate: 55%
- Total Enrollment: 4,682
- Undergrad Students: 3,729
- Graduate Students: 953
- Grads Salary: $67,000
- Student-to-faculty: 17:1
Metropolitan State University
Score: 67.56
- Undergraduate Tuition
- In-State: $9,780
- Out-of-State:$9,780
- Net Price: $19,347
- Acceptance Rate: 82%
- Retention Rate: 64%
- Graduation Rate: 33%
- Total Enrollment: 6,294
- Undergrad Students: 5,488
- Graduate Students: 806
- Grads Salary: $78,000
- Student-to-faculty: 14:1
Online Economics Education in Minnesota
An economist is a professional who studies the production, distribution and behavior of goods and services within an economy as well as individuals' attitudes, businesses' actions and government actions in relation to it. Economists conduct analyses on data trends and indicators related to this field in order to offer insight and advice for improving economic performance.
Economists use various tools and techniques to analyze the economy, including statistical analysis, mathematical modeling and economic theory. Economists may work for government agencies, research institutions, financial institutions or private companies; others serve as consultants helping businesses and governments make informed decisions based on economic analysis data and analysis.
Economists play an essential role in shaping economic policy and providing guidance on matters such as inflation, unemployment and international trade. Furthermore, economists study how government policies, regulations and events impact upon the economy.
Economists perform much more than analyze data and trends; in addition to doing this work they conduct research, publish reports, present their findings to various audiences, provide expert testimony in court cases or comment to media on economic matters.
Online Associate (AS)
An Associate Degree in Economics provides individuals looking to enter the field of economics with a strong foundation. This two-year program equips students with essential knowledge and skills in economic principles, financial analysis and market dynamics; with its practical applications emphasis, graduates will graduate possessing a comprehensive understanding of how economic systems function.
One of the many advantages of earning an Associate Degree in Economics is its flexibility. Graduates may opt to either enter the workforce directly, or transfer their credits to four-year institutions for further studies. This versatility opens up various career possibilities across financial, government and business management fields - as well as more general economic fields. Overall, an ABE serves as a vital stepping stone towards meeting long-term career goals within its industry or related sectors.
Online Bachelors (BS)
Earning a Bachelor's of Economics can open doors of opportunity for Minnesota students. This versatile degree equips individuals with analytical and critical thinking skills highly valued across various industries - from financial to government agencies - so graduates with economics backgrounds are equipped to tackle complex economic challenges effectively and make strategic decisions.
Pursuing a Bachelor's Degree in Economics allows students to explore specializations such as environmental economics, development economics, labor economics and labor economics. These areas allow for deeper insight into economic concepts and real world applications that increase marketability and expertise across specific sectors. Finally, earning this degree not only prepares individuals for successful careers but also allows them to contribute meaningfully towards shaping economic policies that drive sustainable development across Minnesota communities.
Online Masters (MS)
Master of Economics degrees can open a world of opportunity for Minnesota students who want to deepen their understanding of economic principles and broaden their career options. Graduates gain expertise in areas like econometrics, financial economics, public policy analysis as they delve deeper into complex theories and models which prepare them to tackle real-life challenges and make meaningful contributions within the field.
Master's degrees in Economics provide invaluable opportunities for networking and collaboration among industry professionals, academic researchers, policymakers, students can engage in cutting-edge research projects, attend conferences and intern at prestigious organizations - providing hands-on experience that complements theoretical learning. With demand for skilled economists rising ever higher, pursuing one not only strengthens expertise but also increases career advancement prospects across sectors like finance, government agencies, consulting firms or academia.
Online Doctorate (PhD)
Pursuing a PhD in Economics opens up many doors for those wanting to understand more of our global economy's inner workings. Not only will you acquire advanced knowledge but you'll be contributing cutting-edge research. The rigorous curriculum challenges students to think critically, analyze data, and come up with innovative solutions to complex economic problems.
Acquiring a PhD in Economics equips individuals with highly specialized skills that are valued across various sectors. From academia to government institutions and private organizations, economists play a pivotal role in shaping policies and driving informed decision-making processes. Furthermore, doctoral programs' collaborative nature facilitates an excellent learning environment where students engage in stimulating discussions while sharing diverse perspectives while networking with leading experts in their field.
Online Certifications
Economics certifications provide candidates with an edge in a highly competitive job market by highlighting specialized skills and knowledge that set them apart to employers. Many certifications focus on specific niche areas of economics, such as financial analysis, data analytics or economic policy; earning one allows students to showcase their dedication and expertise in one aspect of economics.
Economics certifications can also lead to increased job opportunities and earnings potential in Minnesota's diverse economic environment. Employers value candidates who take the initiative to further their education, demonstrate commitment to continuous learning, or may require specific certifications for specific roles such as banking, consulting or government agencies. By investing in economics certifications students can position themselves for success while contributing positively to Minnesota's economy.
Become an Economist in Minnesota
If you have a passion for understanding how the economy works and making informed decisions based on economic principles, then pursuing a career in economics might be the right path for you. Whether you're looking to work in government, academia, the private sector, or non-profit organizations, becoming an economist can open up a wide range of career opportunities. If you're based in Minnesota and want to know how to become an economist, here are some steps to guide you on your journey.
- Step 1: Obtain a Bachelor's Degree in Economics
To become an economist, the first step should be obtaining a bachelor's degree in economics or related field. Many colleges and universities in Minnesota offer economics programs which will give you a strong background in theory, data analysis and research methods. Internships or research opportunities during your undergraduate studies may help gain practical experience and enhance skills further.
- Step 2: Pursue a Master's Degree in Economics
While a bachelor's degree may suffice for entry-level positions, earning a master's degree can make you more desirable for more senior roles within economics. Minnesota institutions offering graduate programs with advanced economic theory courses as well as coursework on econometrics and applied research are recommended.
- Step 3: Gain Work Experience
Extensive work experience is crucial to becoming an economist. Consider interning or accepting research assistant positions within government agencies, research institutions or private companies so you can gain invaluable practical experience and enhance your analytical capabilities.
- Step 4: Develop Strong Analytical and Quantitative Skills
Economists are expected to analyze data, conduct research, and make accurate predictions using quantitative analysis. To be an exceptional economist, strengthen your skills in statistics, mathematics and data analysis as well as familiarizing yourself with software such as Stata, R and Python which are widely used for economic research.
What Can I Do with a Bachelor's in Economics?
A Bachelor's in Economics can open up a multitude of career paths and opportunities for individuals with analytical minds and a passion for understanding economic systems. Graduates can find themselves working in various industries such as finance, consulting, government, and non-profit organizations. With this degree, you could analyze market trends, provide financial advice, or even work in economic research to help shape policies that impact society on a large scale.
Critical thinking skills and quantitative analysis abilities acquired through studying economics can also be applied to roles in data analysis, marketing research and business management. An economics degree provides graduates with the flexibility necessary for adapting to different job roles and industries throughout their careers - all valuable skills sought-after by employers across multiple sectors.