What is Economics?
New Jersey is home to several prestigious universities and colleges that offer economics degree programs. These programs provide students with a solid foundation in economic theory, quantitative analysis, and policy development. Whether you are interested in working in government, finance, or academia - a degree in economics can open a variety of career opportunities.
According to the US Bureau of Labor Statistics, as of May 2020, there were 20,070 economists employed in the United States with an annual median wage of $108,350. It should be noted, however, that job markets for economists can be highly competitive, which means that having a graduate degree can significantly enhance your employment chances.
As of May 2020, in New Jersey specifically, there were 1,210 economists employed, earning an average annual wage of $125,330. Their most common employers include professional, scientific, and technical services; finance and insurance services; and the government.
If you are considering pursuing a degree in economics in New Jersey, it’s important to research the various programs available and find one that aligns with your academic and career goals. Whether you are interested in microeconomics, macroeconomics, or econometrics, there is likely a program that will suit your interests.
Students looking for the best economics colleges for them will have many options in New Jersey. Options include Rutgers University (including Rutgers Newark, Rutgers University Camden, etc.), New Jersey City University, Princeton University, Ramapo College, Seton Hall University, Montclair State University, the University of New Brunswick, the College of New Jersey, and more. Many of these schools offer an economics department or a business or mathematics department with economics majors. This means that students looking for economics schools can find the perfect programs and best colleges for them without ever leaving the state; whether you're looking to attend a program in a small city, large city, or complete a minor in business administration - there are plenty of choices.
Top Ranked Campus & Online Economics Programs in New Jersey
Princeton University
Score: 94.75
- Undergraduate Tuition
- In-State: $59,710
- Out-of-State:$59,710
- Net Price: $18,698
- Acceptance Rate: 6%
- Retention Rate: 97%
- Graduation Rate: 97%
- Total Enrollment: 8,842
- Undergrad Students: 5,604
- Graduate Students: 3,238
- Grads Salary: $103,000
- Student-to-faculty: 5:1
Rutgers University-New Brunswick
Score: 75.45
- Undergraduate Tuition
- In-State: $17,239
- Out-of-State:$36,001
- Net Price: $17,535
- Acceptance Rate: 66%
- Retention Rate: 92%
- Graduation Rate: 84%
- Total Enrollment: 50,637
- Undergrad Students: 36,344
- Graduate Students: 14,293
- Grads Salary: $81,000
- Student-to-faculty: 15:1
Saint Peter's University
Score: 72.59
- Undergraduate Tuition
- In-State: $41,054
- Out-of-State:$41,054
- Net Price: $11,996
- Acceptance Rate: 89%
- Retention Rate: 78%
- Graduation Rate: 60%
- Total Enrollment: 3,430
- Undergrad Students: 2,071
- Graduate Students: 1,359
- Grads Salary: $83,000
- Student-to-faculty: 11:1
The College of New Jersey
Score: 72.03
- Undergraduate Tuition
- In-State: $18,685
- Out-of-State:$24,568
- Net Price: $22,273
- Acceptance Rate: 64%
- Retention Rate: 90%
- Graduation Rate: 86%
- Total Enrollment: 7,629
- Undergrad Students: 7,039
- Graduate Students: 590
- Grads Salary: $77,000
- Student-to-faculty: 13:1
Rutgers University-Newark
Score: 71.17
- Undergraduate Tuition
- In-State: $16,586
- Out-of-State:$35,348
- Net Price: $16,578
- Acceptance Rate: 74%
- Retention Rate: 82%
- Graduation Rate: 66%
- Total Enrollment: 11,017
- Undergrad Students: 7,511
- Graduate Students: 3,506
- Grads Salary: $82,000
- Student-to-faculty: 13:1
Rutgers University-Camden
Score: 69.32
- Undergraduate Tuition
- In-State: $17,079
- Out-of-State:$35,841
- Net Price: $14,151
- Acceptance Rate: 77%
- Retention Rate: 79%
- Graduation Rate: 65%
- Total Enrollment: 5,966
- Undergrad Students: 4,185
- Graduate Students: 1,781
- Grads Salary: $75,000
- Student-to-faculty: 13:1
Ramapo College of New Jersey
Score: 68.88
- Undergraduate Tuition
- In-State: $15,978
- Out-of-State:$26,388
- Net Price: $16,262
- Acceptance Rate: 70%
- Retention Rate: 84%
- Graduation Rate: 70%
- Total Enrollment: 5,478
- Undergrad Students: 4,932
- Graduate Students: 546
- Grads Salary: $75,000
- Student-to-faculty: 16:1
Montclair State University
Score: 65.76
- Undergraduate Tuition
- In-State: $14,766
- Out-of-State:$24,126
- Net Price: $13,742
- Acceptance Rate: 91%
- Retention Rate: 81%
- Graduation Rate: 65%
- Total Enrollment: 21,784
- Undergrad Students: 17,290
- Graduate Students: 4,494
- Grads Salary: $71,000
- Student-to-faculty: 17:1
Drew University
Score: 64.73
- Undergraduate Tuition
- In-State: $45,360
- Out-of-State:$45,360
- Net Price: $28,183
- Acceptance Rate: 73%
- Retention Rate: 88%
- Graduation Rate: 74%
- Total Enrollment: 2,092
- Undergrad Students: 1,513
- Graduate Students: 579
- Grads Salary: $77,000
- Student-to-faculty: 12:1
William Paterson University of New Jersey
Score: 64.47
- Undergraduate Tuition
- In-State: $15,150
- Out-of-State:$24,464
- Net Price: $12,967
- Acceptance Rate: 92%
- Retention Rate: 71%
- Graduation Rate: 56%
- Total Enrollment: 9,070
- Undergrad Students: 6,604
- Graduate Students: 2,466
- Grads Salary: $73,000
- Student-to-faculty: 15:1
Kean University
Score: 64.29
- Undergraduate Tuition
- In-State: $13,426
- Out-of-State:$21,076
- Net Price: $10,747
- Acceptance Rate: 83%
- Retention Rate: 74%
- Graduation Rate: 51%
- Total Enrollment: 12,884
- Undergrad Students: 10,845
- Graduate Students: 2,039
- Grads Salary: $71,000
- Student-to-faculty: 16:1
Rowan University
Score: 63.41
- Undergraduate Tuition
- In-State: $15,700
- Out-of-State:$25,564
- Net Price: $20,963
- Acceptance Rate: 77%
- Retention Rate: 85%
- Graduation Rate: 68%
- Total Enrollment: 19,535
- Undergrad Students: 15,231
- Graduate Students: 4,304
- Grads Salary: $71,000
- Student-to-faculty: 16:1
Seton Hall University
Score: 60.81
- Undergraduate Tuition
- In-State: $51,370
- Out-of-State:$51,370
- Net Price: $33,472
- Acceptance Rate: 75%
- Retention Rate: 83%
- Graduation Rate: 72%
- Total Enrollment: 9,623
- Undergrad Students: 6,012
- Graduate Students: 3,611
- Grads Salary: $81,000
- Student-to-faculty: 14:1
Caldwell University
Score: 58.65
- Undergraduate Tuition
- In-State: $39,450
- Out-of-State:$39,450
- Net Price: $20,612
- Acceptance Rate: 66%
- Retention Rate: 71%
- Graduation Rate: 68%
- Total Enrollment: 2,028
- Undergrad Students: 1,605
- Graduate Students: 423
- Grads Salary: $57,000
- Student-to-faculty: 13:1
New Jersey City University
Score: 57.43
- Undergraduate Tuition
- In-State: $13,971
- Out-of-State:$24,888
- Net Price: $19,252
- Acceptance Rate: 90%
- Retention Rate: 73%
- Graduation Rate: 39%
- Total Enrollment: 6,539
- Undergrad Students: 4,895
- Graduate Students: 1,644
- Grads Salary: $76,000
- Student-to-faculty: 15:1
Online Economics Education in New Jersey
An economist is a professional who studies and analyses the production, distribution, and consumption of goods and services. Their expertise can provide insight and recommendations regarding issues such as inflation, unemployment, taxes, government spending, and international trade.
Economists work across industries and settings, from government agencies and consulting firms to financial institutions and academic institutions. Economists utilize data analysis, economic theory, and statistical modeling to interpret economic trends and predict outcomes.
An economist is responsible for conducting research and offering expert analysis on economic issues. Their responsibilities may include writing reports, giving presentations, advising policymakers on economic impacts of various decisions made, forecasting economic trends, and developing models, as well as assessing effectiveness of policies implemented.
On top of conducting research and analyses, economists also may play an integral part in designing and implementing economic policies. This may involve devising plans to promote economic growth, reduce poverty, or address economic inequality.
Online Associates (AS)
An associate degree in economics can open doors to rewarding careers in finance, business, or government sectors. Students pursuing this degree gain foundational knowledge about economic principles, statistical analysis, and financial management - skills that are highly sought after on the job market. These two-year programs equip individuals with practical abilities that make them highly marketable candidates. Economics majors may be more rare at this level, but they are around.
Moreover, an associate degree in this field can provide students with a cost-effective way to explore their interests and decide if they want to further pursue higher education in economics or related fields. Graduates of these programs often find entry-level positions in various industries where they can apply their analytical skills and contribute to decision-making processes. These degrees can offer a solid academic foundation for those looking to kickstart their careers and delve into the world of economics.
Online Bachelors (BS)
Starting their journey toward a bachelor's of economics opens endless opportunities for New Jersey students. These programs delve deeply into economic theories, analysis, and real-world applications that shape our global economy - with strong emphasis placed on critical thinking and problem-solving skills so graduates are well equipped for today's changing landscape of business, finance, and policymaking.
Pursuing an economics degree at this level provides not only an understanding of market trends but also provides a holistic overview of social structures and behavioral patterns. Students learn to decipher complex data sets, interpret trends accurately, and make informed decisions with lasting impacts for businesses and communities alike. A bachelor's degree in economics can open doors to a host of career options like financial analysis, consultancy roles, research roles, or even postgraduate studies or certification programs.
Online Masters (MS)
Embarking on a Master of Economics program opens many doors for New Jersey students. Beyond the fundamental principles learned at undergraduate level, these advanced programs delve deep into areas like econometrics, financial economics, and public policy analysis. Students engage in rigorous coursework and research projects designed to equip them with analytical tools needed to tackle today's complex economic issues.
Pursuing a Master of Economics enables individuals to expand their quantitative abilities while deepening their understanding of economic theory. Not only will students develop expertise in data analysis and modeling, but the program will also develop critical thinking abilities necessary for crafting solutions to real-world issues. Students are also encouraged to participate in cutting-edge research initiatives while working alongside distinguished professors who offer invaluable perspectives from both academia and industry.
Online Doctorate (PhD)
Pursuing a PhD in economics can open doors to an intricate world of economic theories and sophisticated research methodologies. New Jersey students looking for this degree are poised to explore groundbreaking studies that shape policies, drive innovation, and shape global markets. Doctoral candidates also possess tools needed to conduct original research that contributes significantly to our understanding of complex economic systems.
Graduates with a PhD from top institutions can leverage their expertise to address pressing social issues like income inequality, environmental sustainability, healthcare accessibility, and affordability. Training received during a PhD program not only sharpens analytical skills but also cultivates critical thinking abilities necessary for dealing with real world economic challenges in today's constantly shifting economic environment.
Online Certifications
Economics certifications offer individuals looking to expand their knowledge and expertise within the field an invaluable opportunity. By earning one, professionals can demonstrate their commitment to continuous learning and professional development - increasing credibility and marketability on the job market. Economics certifications typically cover topics like financial modeling, econometrics, or behavioral economics - which provide candidates with highly sought after skills by employers.
One of the chief advantages of economics certifications is their flexibility. Compared with traditional degree programs, certifications tend to be shorter-term and more focused - ideal for anyone seeking to upskill in an emerging area within economics or change fields altogether. Furthermore, many certifications are recognized globally, expanding career prospects beyond local boundaries by tapping into international markets.
Become an Economist in New Jersey
New Jersey is a hub for economic activity, making it a great place for aspiring economists to kickstart their careers. If you're interested in becoming an economist in the Garden State, here are some steps you can take to achieve your goal.
- Step 1: Earn a Bachelor's Degree in Economics
Step one of becoming an economist in New Jersey is earning a bachelor's degree in economics or related field from one of New Jersey's many colleges and universities offering programs in economics - they will equip you with all of the knowledge and skills necessary for a career in this field.
- Step 2: Gain Experience Through Internships or Entry-level Jobs
As an economist, standing out in the job market often requires that you gain hands-on experience through internships or entry-level jobs. Look for opportunities within government agencies, financial institutions, research organizations, or any company where your economic knowledge can be applied in practical settings.
- Step 3: Pursue a Master's Degree in Economics
Earning a master's degree in economics can significantly advance your career as an economist in New Jersey. Many employers prefer candidates with advanced degrees as this shows greater understanding of economic principles and theories.
- Step 4: Develop Strong Analytical and Problem-solving Skills
As an economist, your job entails analyzing data, conducting research, and making strategic recommendations based on your findings. To be successful at this job, strong analytical and problem-solving abilities are vital to accurately interpret economic trends and make sound decisions.
What Can I Do with a Bachelor's in Economics?
An economics degree opens doors for its graduates in many ways. Graduates may pursue roles such as financial analyst, market research analyst, or even policy advisor with such qualifications. Employers seek the analytical skills that come from studying economics as part of an undergraduate degree program across industries.
Additionally, graduates with bachelor's degrees in economics go on to build successful careers in banking and finance sectors. From investment banking to corporate finance, an understanding of economic principles gained through studying economics can prove invaluable in any position within these fields. Furthermore, individuals holding these degrees often possess the tools needed to navigate global markets more easily while making informed decisions that impact businesses and society at large.