Best Economics Master’s Degrees Of 2024

• Purdue University
• University of Detroit Mercy
• The Chicago School of Professional Psychology at Los Angeles
• University of Missouri – Columbia

Students continue to pursue graduate-level online learning for its flexibility and increased access to programs. According to data from the National Center for Education Statistics (NCES), 38% of graduate students took some amount of online courses in the 2020-21 academic year. This figure increased to 56% in the 2020-21 school year.

However, the flexibility of online learning requires self-motivation, time management skills and meticulous organization to keep up with assignments. Consider the following elements as you research online master’s in economics programs.

Accreditation is a voluntary process through which schools and programs undergo strict evaluation for their curricula, student resources and faculty. Third-party organizations recognized by the U.S. Department of Education or the Council for Higher Education Accreditation confer this status to programs, departments and schools based on merit.

Institutional accreditation applies to entire schools. Major accreditors at the institutional level include:

• Higher Learning Commission
• WASC Senior College and University Commission
• Middle States Commission on Higher Education
• Northwest Commission on Colleges and Universities

It’s vital to confirm the institutional accreditation status of every prospective school. Along with signifying the high quality of your school, accreditation allows you to transfer credits between accredited institutions and qualify for financial aid.

More specialized accrediting organizations evaluate individual programs and departments within higher education institutions. Economics programs, including online economics master’s degrees, often exist within schools’ business departments. Programmatic accreditation for business degrees and departments may come from:

• Association to Advance Collegiate Schools of Business
• International Accreditation Council for Business Education
• Accreditation Council for Business Schools and Programs

Consider Your Future Goals

As you research prospective degrees, consider your goals to find the right program for your needs. If you plan to pursue employment as an economist after completing your master’s program, you might prioritize schools with strong alumni networks, employer connections or internship placements.

If you plan to continue in academia with a Ph.D. in economics, you might seek a master’s program at a university that also offers a relevant doctoral degree. Attending the same school for both graduate programs gives you a chance to connect with faculty who can provide letters of recommendation and guide you toward programs that align with your aspirations.

Understand Your Expenses and Financing Options

NCES tracks tuition costs and fees for graduate programs based on public vs. private status. As of the 2020-21 academic year, in-state graduate students at public schools paid an average of $12,394 in tuition and fees, while private schools charged grad students an annual average of $26,621.

Annual tuition costs vary among the online economics master’s programs in this list, ranging from $7,500 to $19,545. Across the four programs ranked here, annual tuition costs come out to an average of about $14,000.

To help with paying for your online master’s in economics, thoroughly research all available funding options. Get started by filling out a FAFSA, which will determine your eligibility for various types of aid, including federal loans.

From there, research financial aid that does not require repayment, such as grants and scholarships. Schools and independent organizations often award this funding based on identity, need or academic achievement. For example, graduate-level economics students can pursue the $1,000 Hsiao Memorial Economics Scholarship, which requires candidates to have 50% Asian heritage and demonstrated financial need.