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What is Economics?
If you are thinking about studying economics in Washington, you’ll find a variety of educational opportunities. Universities in Washington offer comprehensive online or in-person programs that can equip you with essential economics knowledge, quantitative skills, and communication proficiency. An economics degree from one of these institutions can open doors to numerous professional prospects and career paths.
Programs in Washington universities are known for their strong focus on quantitative analysis, making them a good fit if you're interested in data and statistical applications in economics. These programs include diverse options and may even offer an online format, providing more flexibility. This adaptability allows you to tailor your educational experience to fit your schedule and career goals.
Online programs are particularly beneficial if you need to balance other commitments while advancing your education. They provide the same rigorous coursework and respected degrees as traditional on-campus programs. Once you graduate, you'll find that the skills and knowledge gained from your economics degree may be in high demand across a variety of industries, ensuring a rewarding career ahead.
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Overview of the Economics Field in Washington
Economics degrees in Washington offer diverse opportunities for economics students interested in analytical methods and social phenomena. They cover both theoretical knowledge and practical skills necessary for various careers.
The Scope of Economics
Economics majors, no matter where you attend within or outside of Washington universities, should provide a solid foundation for a variety of roles. You'll study resource allocation, market behavior, and policy impacts. Courses include introductory and advanced economics, statistics, and mathematics. You can choose between a Bachelor of Arts and a Bachelor of Science. The BA emphasizes broader social science aspects, while the BS focuses more on quantitative analysis. Both degrees can prepare you for careers in business, government, and non-profits, or further graduate studies.
Online vs. Campus Program Benefits
Choosing between an online or on-campus economics major or degree can impact your educational experience. You need to consider factors like flexibility, career opportunities, and the learning environment.
Online vs. On-campus Platforms
Online programs offer flexibility, allowing you to study from anywhere. They can be ideal if you have work commitments or live far from campus.
On-campus programs provide face-to-face interactions with peers and professors, which can enhance networking opportunities. Schools in Washington offer rich campus life and direct access to faculty.
Both formats can prepare you for advanced study, such as a Master’s in Economics or an Economist PhD. Consider your personal needs and career goals to choose the best path.
Online Educational Pathways for an Economics Degree in Washington
Online Associate Degree in Economics (AS)
Earning an associate degree in economics can be a great starting point. These programs typically cover basic economic principles, introductory statistics, and math skills. You may complete courses covering a microeconomics introduction, macroeconomics, social sciences, and sometimes introductory courses in finance or accounting. With an associate degree, you can pursue entry-level positions in business or government or use it as a steppingstone to a bachelor's.
National Rankings - online AS in economicsOnline Bachelor’s Degree in Economics (BS)
A bachelor’s degree in economics provides a deeper understanding of economic theories and practices. Programs like these usually require courses in advanced microeconomics, economic analysis, macroeconomics, econometrics, and statistics. Online programs also offer flexibility, making it easier for you to learn while working or managing other responsibilities.
National Rankings - online BS in economicsOnline Master’s Degree in Economics (MS)
Graduate programs in economics offer advanced coursework that builds on undergraduate studies. Typical courses include econometric theory, advanced microeconomics, and global economic policies. Getting a master's can open doors to higher-level positions, including roles in government, consulting, or academia. Online formats allow you to access top-quality education without leaving your job or relocating. Students at this level may also choose to complete a Master of Business Administration (MBA) with a focus on economics. MBA programs are available from universities and business schools and can allow you to study economics in relation to human behavior, natural resources, and more.
National Rankings - online MS in economicsOnline PhD in Economics (PhD)
A PhD in economics is the pinnacle of academic achievement in this field. PhD programs are rare due to the need for intense research and interaction with faculty, but some hybrid options exist. Completing a dissertation is a significant part of the program. A PhD can lead to careers in research, academia, or high-level consulting.
Get our resources and scholarships guide for business How to Pay for College guideOnline Economics Certifications
Certifications in economics are useful for gaining specialized knowledge without committing to a full degree. These programs suit professionals looking to enhance their skills or pivot their career. Certifications are often shorter than degrees and can sometimes be completed in just a few months. They can complement your existing qualifications and make you more competitive in the job market.
Funding Your Education in Washington
When pursuing an economics degree in Washington, it's crucial to understand the cost of tuition and fees as well as explore available financial aid and scholarships to manage these expenses effectively.
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Tuition Cost and Fees
Economics programs in Washington have varying tuition costs. You should budget for additional fees such as technology fees, application fees, and textbook costs. These can add up, so it's important to factor them into your overall education budget.
Graduate academic programs typically have higher tuition rates. For up to date costs, it's wise to visit the university's website or contact their admissions office. This will provide you with the most accurate information.
Financial Aid and Scholarships
Financial aid is available in various forms, such as grants, loans, and work-study programs. You should start by filling out the Free Application for Federal Student Aid (FAFSA) to determine your eligibility for federal financial aid. Many universities also offer institutional scholarships specific to their economics programs.
You may find scholarships for both undergraduate and graduate students, including those pursuing an online economics PhD. These scholarships can help significantly reduce the financial burden. Additionally, some state-funded programs provide financial assistance to residents of Washington, making an education more affordable for you. Checking with your school's financial aid office can uncover various opportunities tailored to your needs.
Potential Careers and Salaries for Economics Graduates
Graduates with an economics degree in Washington can explore a variety of career paths. These roles offer attractive salaries and opportunities for advancement in different sectors. Here are just a few examples, with educational requirements and average salaries.
Supply Chain Analyst:
Job description: As a supply chain analyst, you will analyze and improve supply chain operations. The job involves tracking data, identifying inefficiencies, and making recommendations. Companies seek candidates with strong analytical skills and proficiency in software tools like Excel.
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
- Determine appropriate equipment and staffing levels to load, unload, move, or store materials
Median Salary: $79,400
Learn moreEconomist:
Job description: Becoming an economist in Washington offers high earning potential. Economists do research and analyze data to understand economic issues and trends. Economists may work for government agencies, private firms, or research organizations.
Requirements:
- Bachelors or masters degree in economics, business administration or a related field, 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: $132,650
Learn moreStatistician:
Job description: Statisticians are in high demand across various industries. They design surveys, experiments, and analyze data to provide insights and support decision-making. In addition to a strong math background, proficiency in statistical software like R or SPSS is essential.
Requirements:
- Master's degree, Growth Potential 30% (Much faster than average)
- Decide what data are needed to answer specific questions or problems
- Apply mathematical theories and techniques to solve practical problems in business, engineering, the sciences, and other fields
- Design surveys, experiments, or opinion polls to collect data
- Develop mathematical or statistical models to analyze data
Median Salary: $109,190
Financial Manager:
Job description: Financial managers oversee financial health, analyzing data, and developing strategies to achieve financial goals. This role requires strong leadership skills and a good grasp of financial regulations. Experience in finance or a related field is often necessary to secure a position.
Requirements:
- Bachelor's degree in finance, accounting or a related field, 5 years or more work experience
- Plan, direct, or coordinate accounting, investing, banking, insurance, securities, and other financial activities of a branch, office, or department of an establishment
- Prepare financial statements, business activity reports, and forecasts
- Monitor financial details to ensure that legal requirements are met
- Supervise employees who do financial reporting and budgeting
Median Salary: $174,820
Learn moreFrequently Asked Questions
What are the requirements to pursue an  economics degree?
To pursue an economics degree in Washington, you generally need to complete specific prerequisite courses in mathematics and introductory economics. Most programs also require a strong academic record and, in some cases, standardized test scores such as the GRE or GMAT.
Are there any accredited economics degrees offered online in Washington?
Yes, several accredited universities in Washington offer online economics degrees. These programs are designed to provide the same quality of education as on-campus options, ensuring you receive a comprehensive understanding of economic theories and practices.
How does an online economics degree differ from an on-campus program?
An online economics degree offers greater flexibility, allowing you to study at your own pace and schedule. While the core curriculum remains the same, online programs often include virtual lectures, discussion forums, and digital resources to facilitate learning.
Does the type of economics degree you earn significantly impact the potential salary after graduation?
Yes, the type of economics degree can impact your potential salary. Graduates with specialized degrees or those from top-ranked programs may have higher earning potential. Bachelor's degree holders in economics generally have strong salary prospects, often exceeding those of many other fields.