50 Most Affordable Economics Programs

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Economics is a field that is at least as old as the United States, when Adam Smith published The Wealth of Nations, in 1776. However, economic thinking dates to the ancient Greeks and early scholars in the Middle East. These days, economic models and theories inform our daily lives. Economists help determine prices for things like fuel, groceries, and theater tickets. They also evaluate big data troves from the internet which is used to track all sorts of trends.

An affordable economics degree program can thus help students launch into the job market prepared to succeed. The skills that a degree in economics offers can apply to a wide variety of fascinating and rewarding jobs. It's possible to find economics majors working as actuaries, salespeople, market analysts, and even managers, to name a few possibilities.

This page was created to help aspiring economists learn more about how to find an affordable economics degree program.

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Top 50 Affordable Economics Degree College Rankings

Some of the factors we consider in our Rankings include:

Online Degree Programs:
This is increasingly an important factor because so many students either need to continue working while they pursue their degrees, or they can't afford to move to the college or university. We also look for the option to pursue a blend of traditional and online courses.
Percent of Students Receiving Financial Aid:
This figure can be informative when determining the baseline affordability of an economics degree program. However, many private colleges and universities have a student body that largely pays their bills in cash. Economics students should examine these statistics carefully.
Loan Default Rate:
A high loan default rate may indicate that graduates are having a hard time converting their economics degrees into well-paying jobs.

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Tuition Costs:
We evaluate the gross and net cost of tuition and living expenses. While net costs are an average, students can use these figures to get a better view of what they might owe upon graduation.
Retention Rate:
This statistic reflects how many first-time, full-time students return to campus for a second year. A high retention rate is thought to indicate high rates of satisfaction with regards to academics, campus resources, and even the student body.

Berea College

Tuition
- In-State: $45,026
- Out-of-State: $45,026
Net Price: $2,020
Total Enrollment: 1,433
Undergrad Students: 1,433
Graduate Students: 0

Student-to-faculty: 8:1
Acceptance Rate: 25%
Retention Rate: 82%
Graduation Rate: 62%
Diplomas Awarded: 2
Grads Salary: $62,000

CUNY Hunter College

Tuition
- In-State: $7,382
- Out-of-State: $15,332
Net Price: $4,848
Total Enrollment: 22,970
Undergrad Students: 17,256
Graduate Students: 5,714

Student-to-faculty: 14:1
Acceptance Rate: 48%
Retention Rate: 80%
Graduation Rate: 56%
Diplomas Awarded: 138
Grads Salary: $70,000

CUNY Lehman College

Tuition
- In-State: $7,410
- Out-of-State: $15,360
Net Price: $4,974
Total Enrollment: 13,015
Undergrad Students: 11,211
Graduate Students: 1,804

Student-to-faculty: 15:1
Acceptance Rate: 55%
Retention Rate: 71%
Graduation Rate: 54%
Diplomas Awarded: 24
Grads Salary: $67,000

CUNY Bernard M Baruch College

Tuition
- In-State: $7,464
- Out-of-State: $15,414
Net Price: $4,991
Total Enrollment: 19,854
Undergrad Students: 15,896
Graduate Students: 3,958

Student-to-faculty: 19:1
Acceptance Rate: 50%
Retention Rate: 84%
Graduation Rate: 74%
Diplomas Awarded: 57
Grads Salary: $76,000

Texas A&M International University

Tuition
- In-State: $7,846
- Out-of-State: $19,382
Net Price: $5,383
Total Enrollment: 8,505
Undergrad Students: 6,979
Graduate Students: 1,526

Student-to-faculty: 19:1
Acceptance Rate: 48%
Retention Rate: 79%
Graduation Rate: 49%
Diplomas Awarded: NA
Grads Salary: $55,000

California State University-Los Angeles

Tuition
- In-State: $6,805
- Out-of-State: $18,685
Net Price: $5,801
Total Enrollment: 26,460
Undergrad Students: 22,737
Graduate Students: 3,723

Student-to-faculty: 22:1
Acceptance Rate: 87%
Retention Rate: 73%
Graduation Rate: 51%
Diplomas Awarded: 16
Grads Salary: $75,000

Indiana University-Northwest

Tuition
- In-State: $7,941
- Out-of-State: $21,301
Net Price: $6,553
Total Enrollment: 3,198
Undergrad Students: 2,860
Graduate Students: 338

Student-to-faculty: 12:1
Acceptance Rate: 80%
Retention Rate: 68%
Graduation Rate: 37%
Diplomas Awarded: NA
Grads Salary: $73,000

College of Staten Island CUNY

Tuition
- In-State: $7,490
- Out-of-State: $15,440
Net Price: $7,217
Total Enrollment: 10,248
Undergrad Students: 9,299
Graduate Students: 949

Student-to-faculty: 16:1
Acceptance Rate: 100%
Retention Rate: 69%
Graduation Rate: 35%
Diplomas Awarded: 54
Grads Salary: $70,000

Northern Kentucky University

Tuition
- In-State: $10,592
- Out-of-State: $20,848
Net Price: $7,259
Total Enrollment: 15,801
Undergrad Students: 10,776
Graduate Students: 5,025

Student-to-faculty: 17:1
Acceptance Rate: 86%
Retention Rate: 77%
Graduation Rate: 50%
Diplomas Awarded: NA
Grads Salary: $68,000

California State University-Fresno

Tuition
- In-State: $6,663
- Out-of-State: $18,543
Net Price: $7,507
Total Enrollment: 23,999
Undergrad Students: 21,354
Graduate Students: 2,645

Student-to-faculty: 21:1
Acceptance Rate: 95%
Retention Rate: 76%
Graduation Rate: 56%
Diplomas Awarded: 30
Grads Salary: $73,000

California State University-Stanislaus

Tuition
- In-State: $7,734
- Out-of-State: $19,614
Net Price: $7,555
Total Enrollment: 10,154
Undergrad Students: 8,926
Graduate Students: 1,228

Student-to-faculty: 18:1
Acceptance Rate: 97%
Retention Rate: 81%
Graduation Rate: 55%
Diplomas Awarded: 9
Grads Salary: $73,000

Brigham Young University-Idaho

Tuition
- In-State: $4,536
- Out-of-State: $4,536
Net Price: $7,899
Total Enrollment: 43,023
Undergrad Students: 43,023
Graduate Students: 0

Student-to-faculty: 19:1
Acceptance Rate: 96%
Retention Rate: 68%
Graduation Rate: 54%
Diplomas Awarded: NA
Grads Salary: $67,000

The University of Texas Rio Grande Valley

Tuition
- In-State: $9,538
- Out-of-State: $19,333
Net Price: $8,105
Total Enrollment: 31,559
Undergrad Students: 26,434
Graduate Students: 5,125

Student-to-faculty: 19:1
Acceptance Rate: 88%
Retention Rate: 76%
Graduation Rate: 53%
Diplomas Awarded: 17
Grads Salary: $65,000

Farmingdale State College

Tuition
- In-State: $8,576
- Out-of-State: $18,486
Net Price: $8,111
Total Enrollment: 9,314
Undergrad Students: 9,264
Graduate Students: 50

Student-to-faculty: 18:1
Acceptance Rate: 73%
Retention Rate: 81%
Graduation Rate: 54%
Diplomas Awarded: NA
Grads Salary: $61,000

University of North Carolina at Pembroke

Tuition
- In-State: $3,495
- Out-of-State: $7,495
Net Price: $8,208
Total Enrollment: 7,666
Undergrad Students: 5,643
Graduate Students: 2,023

Student-to-faculty: 14:1
Acceptance Rate: 90%
Retention Rate: 72%
Graduation Rate: 45%
Diplomas Awarded: NA
Grads Salary: $58,000

University of Science and Arts of Oklahoma

Tuition
- In-State: $9,000
- Out-of-State: $20,190
Net Price: $8,390
Total Enrollment: 825
Undergrad Students: 825
Graduate Students: 0

Student-to-faculty: 16:1
Acceptance Rate: 56%
Retention Rate: 60%
Graduation Rate: 40%
Diplomas Awarded: 4
Grads Salary: $72,000

University of Wisconsin-Parkside

Tuition
- In-State: $7,466
- Out-of-State: $15,736
Net Price: $8,510
Total Enrollment: 3,947
Undergrad Students: 3,236
Graduate Students: 711

Student-to-faculty: 17:1
Acceptance Rate: 73%
Retention Rate: 71%
Graduation Rate: 40%
Diplomas Awarded: 7
Grads Salary: $67,000

The University of West Florida

Tuition
- In-State: $6,360
- Out-of-State: $19,241
Net Price: $8,609
Total Enrollment: 13,521
Undergrad Students: 9,291
Graduate Students: 4,230

Student-to-faculty: 22:1
Acceptance Rate: 48%
Retention Rate: 85%
Graduation Rate: 53%
Diplomas Awarded: 7
Grads Salary: $67,000

Marshall University

Tuition
- In-State: $8,604
- Out-of-State: $19,658
Net Price: $8,756
Total Enrollment: 10,691
Undergrad Students: 7,952
Graduate Students: 2,739

Student-to-faculty: 16:1
Acceptance Rate: 97%
Retention Rate: 74%
Graduation Rate: 50%
Diplomas Awarded: NA
Grads Salary: $67,000

North Carolina A&T State University

Tuition
- In-State: $6,733
- Out-of-State: $20,243
Net Price: $9,189
Total Enrollment: 13,487
Undergrad Students: 11,833
Graduate Students: 1,654

Student-to-faculty: 19:1
Acceptance Rate: 56%
Retention Rate: 74%
Graduation Rate: 57%
Diplomas Awarded: 14
Grads Salary: $77,000

Utah Valley University

Tuition
- In-State: $6,270
- Out-of-State: $17,830
Net Price: $9,346
Total Enrollment: 43,099
Undergrad Students: 42,296
Graduate Students: 803

Student-to-faculty: 25:1
Acceptance Rate: 100%
Retention Rate: 68%
Graduation Rate: 39%
Diplomas Awarded: 13
Grads Salary: $67,000

University of Alaska Fairbanks

Tuition
- In-State: $7,896
- Out-of-State: $22,032
Net Price: $9,450
Total Enrollment: 6,607
Undergrad Students: 5,636
Graduate Students: 971

Student-to-faculty: 11:1
Acceptance Rate: 65%
Retention Rate: 70%
Graduation Rate: 39%
Diplomas Awarded: NA
Grads Salary: $78,000

The University of Texas at El Paso

Tuition
- In-State: $9,744
- Out-of-State: $25,152
Net Price: $9,563
Total Enrollment: 23,880
Undergrad Students: 20,165
Graduate Students: 3,715

Student-to-faculty: 19:1
Acceptance Rate: 100%
Retention Rate: 75%
Graduation Rate: 47%
Diplomas Awarded: NA
Grads Salary: $72,000

Florida Atlantic University

Tuition
- In-State: $4,879
- Out-of-State: $17,324
Net Price: $9,711
Total Enrollment: 29,592
Undergrad Students: 24,191
Graduate Students: 5,401

Student-to-faculty: 22:1
Acceptance Rate: 81%
Retention Rate: 81%
Graduation Rate: 62%
Diplomas Awarded: 45
Grads Salary: $70,000

Shepherd University

Tuition
- In-State: $8,282
- Out-of-State: $18,722
Net Price: $9,827
Total Enrollment: 3,235
Undergrad Students: 2,718
Graduate Students: 517

Student-to-faculty: 15:1
Acceptance Rate: 96%
Retention Rate: 70%
Graduation Rate: 48%
Diplomas Awarded: 7
Grads Salary: $71,000

Governors State University

Tuition
- In-State: $10,468
- Out-of-State: $17,980
Net Price: $9,833
Total Enrollment: 4,427
Undergrad Students: 2,609
Graduate Students: 1,818

Student-to-faculty: 10:1
Acceptance Rate: 57%
Retention Rate: 56%
Graduation Rate: 21%
Diplomas Awarded: 1
Grads Salary: $66,000

Florida International University

Tuition
- In-State: $6,565
- Out-of-State: $18,963
Net Price: $9,881
Total Enrollment: 55,609
Undergrad Students: 45,688
Graduate Students: 9,921

Student-to-faculty: 24:1
Acceptance Rate: 64%
Retention Rate: 91%
Graduation Rate: 69%
Diplomas Awarded: 139
Grads Salary: $68,000

Missouri Southern State University

Tuition
- In-State: $8,026
- Out-of-State: $16,052
Net Price: $10,061
Total Enrollment: 4,144
Undergrad Students: 4,052
Graduate Students: 92

Student-to-faculty: 17:1
Acceptance Rate: 99%
Retention Rate: 62%
Graduation Rate: 36%
Diplomas Awarded: NA
Grads Salary: $62,000

University of Illinois Chicago

Tuition
- In-State: $14,046
- Out-of-State: $28,654
Net Price: $10,384
Total Enrollment: 33,747
Undergrad Students: 21,807
Graduate Students: 11,940

Student-to-faculty: 18:1
Acceptance Rate: 79%
Retention Rate: 78%
Graduation Rate: 62%
Diplomas Awarded: 95
Grads Salary: $77,000

New Mexico State University

Tuition
- In-State: $7,627
- Out-of-State: $24,751
Net Price: $10,407
Total Enrollment: 14,268
Undergrad Students: 11,591
Graduate Students: 2,677

Student-to-faculty: 16:1
Acceptance Rate: 78%
Retention Rate: 72%
Graduation Rate: 51%
Diplomas Awarded: 14
Grads Salary: $72,000

Weber State University

Tuition
- In-State: $6,391
- Out-of-State: $17,084
Net Price: $10,525
Total Enrollment: 29,914
Undergrad Students: 28,903
Graduate Students: 1,011

Student-to-faculty: 21:1
Acceptance Rate: 100%
Retention Rate: 68%
Graduation Rate: 42%
Diplomas Awarded: 3
Grads Salary: $74,000

University of Washington

Tuition
- In-State: $12,242
- Out-of-State: $40,740
Net Price: $10,603
Total Enrollment: 52,319
Undergrad Students: 36,213
Graduate Students: 16,106

Student-to-faculty: 21:1
Acceptance Rate: 48%
Retention Rate: 94%
Graduation Rate: 84%
Diplomas Awarded: NA
Grads Salary: $83,000

University of North Carolina at Chapel Hill

Tuition
- In-State: $8,989
- Out-of-State: $37,550
Net Price: $10,614
Total Enrollment: 31,705
Undergrad Students: 20,029
Graduate Students: 11,676

Student-to-faculty: 17:1
Acceptance Rate: 17%
Retention Rate: 96%
Graduation Rate: 91%
Diplomas Awarded: 232
Grads Salary: $75,000

Kean University

Tuition
- In-State: $12,972
- Out-of-State: $20,364
Net Price: $10,747
Total Enrollment: 12,884
Undergrad Students: 10,845
Graduate Students: 2,039

Student-to-faculty: 16:1
Acceptance Rate: 83%
Retention Rate: 74%
Graduation Rate: 51%
Diplomas Awarded: 7
Grads Salary: $67,000

Florida Gulf Coast University

Tuition
- In-State: $6,118
- Out-of-State: $25,162
Net Price: $10,834
Total Enrollment: 15,969
Undergrad Students: 14,130
Graduate Students: 1,839

Student-to-faculty: 20:1
Acceptance Rate: 74%
Retention Rate: 81%
Graduation Rate: 59%
Diplomas Awarded: 25
Grads Salary: $61,000

University of Michigan-Flint

Tuition
- In-State: $13,242
- Out-of-State: $25,506
Net Price: $10,840
Total Enrollment: 5,985
Undergrad Students: 4,609
Graduate Students: 1,376

Student-to-faculty: 13:1
Acceptance Rate: 66%
Retention Rate: 77%
Graduation Rate: 46%
Diplomas Awarded: 10
Grads Salary: $70,000

University of North Carolina at Greensboro

Tuition
- In-State: $7,498
- Out-of-State: $22,657
Net Price: $10,979
Total Enrollment: 17,978
Undergrad Students: 14,198
Graduate Students: 3,780

Student-to-faculty: 17:1
Acceptance Rate: 92%
Retention Rate: 73%
Graduation Rate: 58%
Diplomas Awarded: 27
Grads Salary: $62,000

University of South Florida

Tuition
- In-State: $6,410
- Out-of-State: $17,324
Net Price: $11,004
Total Enrollment: 49,600
Undergrad Students: 38,047
Graduate Students: 11,553

Student-to-faculty: 22:1
Acceptance Rate: 44%
Retention Rate: 90%
Graduation Rate: 74%
Diplomas Awarded: 130
Grads Salary: $70,000

Rhode Island College

Tuition
- In-State: $10,966
- Out-of-State: $26,499
Net Price: $11,014
Total Enrollment: 5,787
Undergrad Students: 4,719
Graduate Students: 1,068

Student-to-faculty: 11:1
Acceptance Rate: 88%
Retention Rate: 71%
Graduation Rate: 44%
Diplomas Awarded: 2
Grads Salary: $66,000

Murray State University

Tuition
- In-State: $9,432
- Out-of-State: $18,888
Net Price: $11,042
Total Enrollment: 9,479
Undergrad Students: 7,679
Graduate Students: 1,800

Student-to-faculty: 16:1
Acceptance Rate: 84%
Retention Rate: 77%
Graduation Rate: 58%
Diplomas Awarded: 7
Grads Salary: $68,000

University of Minnesota-Morris

Tuition
- In-State: $14,120
- Out-of-State: $16,250
Net Price: $11,169
Total Enrollment: 1,068
Undergrad Students: 1,068
Graduate Students: 0

Student-to-faculty: 9:1
Acceptance Rate: 78%
Retention Rate: 72%
Graduation Rate: 58%
Diplomas Awarded: 5
Grads Salary: $75,000

University of Arkansas at Little Rock

Tuition
- In-State: $8,366
- Out-of-State: $18,957
Net Price: $11,173
Total Enrollment: 8,197
Undergrad Students: 5,825
Graduate Students: 2,372

Student-to-faculty: 11:1
Acceptance Rate: 61%
Retention Rate: 75%
Graduation Rate: 42%
Diplomas Awarded: NA
Grads Salary: $63,000

Western Illinois University

Tuition
- In-State: $14,406
- Out-of-State: $14,406
Net Price: $11,213
Total Enrollment: 7,643
Undergrad Students: 5,309
Graduate Students: 2,334

Student-to-faculty: 13:1
Acceptance Rate: 75%
Retention Rate: 67%
Graduation Rate: 47%
Diplomas Awarded: 5
Grads Salary: $70,000

University of North Florida

Tuition
- In-State: $6,389
- Out-of-State: $20,793
Net Price: $11,338
Total Enrollment: 16,406
Undergrad Students: 14,171
Graduate Students: 2,235

Student-to-faculty: 19:1
Acceptance Rate: 71%
Retention Rate: 80%
Graduation Rate: 68%
Diplomas Awarded: 18
Grads Salary: $67,000

Midwestern State University

Tuition
- In-State: $10,233
- Out-of-State: $10,413
Net Price: $11,361
Total Enrollment: 5,784
Undergrad Students: 4,818
Graduate Students: 966

Student-to-faculty: 16:1
Acceptance Rate: 92%
Retention Rate: 63%
Graduation Rate: 41%
Diplomas Awarded: NA
Grads Salary: $76,000

University of Wisconsin-Green Bay

Tuition
- In-State: $7,873
- Out-of-State: $16,091
Net Price: $11,365
Total Enrollment: 9,599
Undergrad Students: 9,146
Graduate Students: 453

Student-to-faculty: 23:1
Acceptance Rate: 90%
Retention Rate: 69%
Graduation Rate: 52%
Diplomas Awarded: 3
Grads Salary: $65,000

Florida A&M University

Tuition
- In-State: $5,785
- Out-of-State: $17,725
Net Price: $11,583
Total Enrollment: 9,215
Undergrad Students: 7,709
Graduate Students: 1,506

Student-to-faculty: 14:1
Acceptance Rate: 33%
Retention Rate: 90%
Graduation Rate: 60%
Diplomas Awarded: 9
Grads Salary: $73,000

West Virginia State University

Tuition
- In-State: $8,647
- Out-of-State: $14,385
Net Price: $11,684
Total Enrollment: 3,785
Undergrad Students: 3,634
Graduate Students: 151

Student-to-faculty: 16:1
Acceptance Rate: 96%
Retention Rate: 61%
Graduation Rate: 35%
Diplomas Awarded: 10
Grads Salary: $65,000

University of Illinois Springfield

Tuition
- In-State: $12,077
- Out-of-State: $21,842
Net Price: $11,733
Total Enrollment: 4,198
Undergrad Students: 2,393
Graduate Students: 1,805

Student-to-faculty: 12:1
Acceptance Rate: 82%
Retention Rate: 76%
Graduation Rate: 53%
Diplomas Awarded: 1
Grads Salary: $72,000

University of Florida

Tuition
- In-State: $6,381
- Out-of-State: $28,659
Net Price: $11,740
Total Enrollment: 55,211
Undergrad Students: 34,552
Graduate Students: 20,659

Student-to-faculty: 16:1
Acceptance Rate: 23%
Retention Rate: 97%
Graduation Rate: 90%
Diplomas Awarded: 242
Grads Salary: $76,000

Why a Degree from an Affordable Economics Program?

Economics is the study of financial values in a society. It measures how things like price can determine market efficacy and how consumers respond to various other qualities by spending. Future economists, then, seek to find economics degree programs that appeal to their intellectual and financial realities. Different economics degree programs offer different qualities that appeal to students in different ways.

Economics students should think of an economics degree program as affordable if it both is within their reach in terms of their immediate financial situation and if it promises academic value that will make them successful economists. This balance of price and value will help economics students discover the economics program that is the most affordable for them, not only today but for the duration of their careers.

One great thing about economics is the variety of outcomes it can yield. Unlike some other specialized undergraduate degree programs, economics provides students with a wide range of skill sets. Economics degree programs teach students quantitative analysis, critical thinking, and more. Graduates of these programs emerge with tools to evaluate trends in the macro economy as well as the ability to assess an individual company.

Some economics students embrace quantitative work and begin to gravitate towards mathematics and statistics. These students may take on skills from computer science and find themselves working with big data to evaluate societal trends. This sort of data science approach is in high demand these days, and economics students with these skills will do very well indeed.

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.

Find Online Economics Schools

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.

Are Economics Programs in High Demand?

Economics is increasingly valued by employers across the economy. Even if students don't pursue work as an economist, per se, they can capitalize on the skills they've honed during their years of study. Thus, a bachelor’s degree in economics can indeed help a person launch a highly successful and fulfilling career.

The U.S. Bureau of Labor Statistics (BLS) reports that economists are indeed in high demand. While the typical entry level education required is a master’s degree, the field is still expected to grow by 14% through 2029. Further, the median salary for economists is reported to be over $108,000. The BLS' research also reflects high demand and pay for comparable professions.

Financial analysts with a bachelor’s degree, for instance, earn a median salary of over $83,000 and their numbers are projected to grow by 5%. Economists can also look for work as market researchers, who earn more than $65,000 in median income and who only need a bachelor’s economics degree to get started. The BLS reports several other well-paid careers that educated economists can pursue with a bachelor’s degree.

These numbers indicate that there is high demand for economists in the wider economy. Thus, academia is sure to work hard on its efforts to fill that demand with viable candidates. Given this demand, many students who are considering fields such as statistics, sociology, psychology, and political science might want to consider switching their major degree field to economics. Given that these fields require similar skill sets, even a complimentary minor in economics would be a terrific addition to a resume.

What Can You Do with a Degree in Economics?

A bachelor’s degree in economics is a terrific choice because it allows the graduate so many options. The skills that economics students must master apply to so many different careers that anyone with an economics degree is sure to find success and fulfillment. They can also find work in a wide range of industries so, while the degree may seem rather specialized and narrow, the reality is quite different.

For instance, economics majors who focus on quantitative analysis can look for jobs in so many fields. Finance is one area that will appreciate their skill sets. Many economics majors start out as financial analysts and then work their way up in industries such as corporate finance, retail banking, and even as financial advisors, given the requisite credentials. This quantitative analysis might also provide the necessary background to work with big data, in which case they might work as market analysts or even for a public health department.

Economics majors can also find positions as actuaries. These professionals work for insurance companies and in risk management departments to assess the overall risk a firm is facing. This is a highly mathematical field that asks that economics students take at least one course in statistics, if not higher-level mathematics. In fact, a background in economics will be useful for many such analysts who can apply their quantitative work within a larger economic context, whether that extends beyond the firm or not.

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Economists might also find work for city, state, or even federal government. Agencies such as the BLS, FTC, and even the EPA may rely on economic analysis when they make decisions. At the local and state level, these governments frequently rely on economic forecasts when determining policy decisions and politicians need that data to help craft legislation. Thus, many economics degree holders find work for government contractors and other economic consulting firms.

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.

FAQs

What is the top salary potential with a degree in economics?
This number will vary according to which school of economics a student chooses. However, it may be possible to earn well into the six-figure range. Those who are able to land a position as a financial analyst with an investment bank frequently find average salaries but then generous bonus payments that launch their earnings into the stratosphere.
What can you expect from online economics degrees?
Online economics students can expect great jobs and salaries from their degrees. They should also expect to need a high level of self-discipline when it comes to assignments. However, they frequently find that their instructors are easy to contact via e-mail, which can enhance their academic experience.
What level of degree should you get in economics?
Every economics student should start with a bachelor’s degree in economics. They should also plan on completing a master’s degree in economics, if not an MBA, depending on their career aspirations. Those who wish to focus their careers specifically on economics should look towards an MA or MS in economics.
Can you complete an accelerated bachelor’s and/or master’s degree in economics?
Yes, in fact this is recommended for students who qualify for these programs. These programs are notoriously intense and very stressful. However, once students graduate with their master’s degree in economics they find that higher salaries await them. Naturally, they also don't need to worry about returning to school any time soon, if ever.

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