Top 50 Affordable Economics Schools

Choosing an Affordable Economics Degree College

Once an economics student determines that they want to attend the most affordable program possible, they suddenly find that they are faced with a myriad of variables. To determine the most affordable program for them, they need to factor in things such as tuition, location, long-term value, return on investment, academic quality, and more. Since tuition is probably the figure that first leaps to mind when evaluating an affordable economics degree, students should be careful to be discerning with this number. If you look a little deeper, the gross tuition number is not necessarily what students will pay. Rather, financial aid can dramatically impact the cost of their college credits. In fact, some seemingly expensive private colleges are able to get their costs down in competition with public universities because their financial aid departments hep students find grants, scholarships, and student loans that make the cost less extreme.

As for location, this can impact affordability quite a lot. If an economics program is across the country, it will obviously be expensive to travel there and back between terms. The economics program might also be in an expensive urban area, such as the Bay Area or New York City, for example. If an economics student wants to attend one of those programs, it may be worthwhile to investigate an online option. On the other hand, students might also find that a local college or university has an economics department that has top accreditation and a program that suits them in terms of focus areas, courses offered, etc. Again, mitigating factors such as scholarships, grants, and other financial aid instruments can be a terrific boon to economics students.

Academic quality should be a chief concern when determining whether an economics program is affordable. This can be ascertained by evaluating a program's accreditation. Economics departments should be accredited by a regional agency that has been approved by the CHEA. Students who would like to augment their degree with studies in data science or computer science should highly value those programs that boast ABET credentials. Students should also evaluate other critical statistics such as the program's retention rate, graduation rate, and salary estimates for economics degree holders. During an admission interview, students might also discuss how many graduates are admitted to top master’s degree programs.

Online Options for Economics Programs

Online education is a growing phenomenon in higher education. Students now have the option of taking some, or all, of their economics courses online. In fact, this is a great option for this subject. After all, economics is traditionally learned through simple reading and writing, two activities that are easily supported via online portals.

Many still question whether or not online degrees are as worthy as their traditional counterparts. The answer from educational researchers seems to be a resounding yes. It's also been shown that online students have the same outcomes as classroom students. In fact, economics degree programs receive the same sorts of accreditation as classroom programs. The questions of reputation and employability always linger, though.

Employers seldom care whether or not a degree comes from an online program. Their primary concern is with things like a candidate's GPA, class rank, and experience. They may even prefer to hire workers from online economics degree programs because those workers have proven that they have an extra degree of self-motivation. Plus, today's workplace is increasingly remote and a graduate from an online program is already accustomed to conducting their work through an online medium.

Since an online economics degree can offer savings in terms of living expenses and tuition, on top of the flexibility and lack of geographical constraints, students are urged to consider this option. Once freed of rigid scheduling concerns, economics students can even start work and gain relevant experience while completing on their degree in their off hours.

Economics Graduates Earn More After College

For those who want to make money, it makes sense to study an academic field that focuses on how value moves in society. To make money, you can study money. It is certainly helpful that economists are increasingly in demand across so many industries. Businesses need the skills sets that economists bring to the table when seeking to expand their operations. They need economic analysis to help prepare for future events. While economics is not the study of clairvoyance, economic models are often predictive when placed in the context of historical trends.

Businesses can also use an economist's skill to analyze market data. Since economics is a field steeped in statistics, economics majors can use that skill to help firms determine where to allocate resources in terms of production and marketing. With skill in big data, an economist can create models that are as general or specific as a firm needs. Thus, some economists pursue work as data scientists, data analysts, and financial analysts.

When it comes to salaries, a degree in economics can help economics graduates land jobs that are well-paid. For instance, the BLS shows that market research analysts can earn a median salary of over $65,000. That is with only a bachelor’s degree, preferably one that features some coursework in marketing and statistics. Economists should also take courses that focus on research so that they can apply those skills in the workplace. Those who are able to devise clever studies can reap generous bonus payments on top of their healthy salary.