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What is an MBA in Economics?

An online MBA in economics can lead to careers in finance, banking, and government. The program combines the foundational knowledge of an MBA with field specific studies. Positions in economics are expected to grow by 6% over the next ten years.

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Positions in economics are expected to grow by 6% over the next ten years.

Most high-level economist positions require an MBA or a PhD. An online MBA in economics will help increase your earning potential, as demonstrated in the table below.

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There are a few graduate degrees available in economics. An economics MBA online provides a broad business background in addition to studying economics. Other programs provide a narrower focus. Though the curricula and specializations differ, the following programs all prepare graduates for a career in economics.

Degree Description Average Salary (1-4 years experience) Length
Master’s of Arts in Economics A master’s in economics provides a broad education that prepares graduates for a wide range of jobs in the public or private sector. Graduates are also prepared for PhD studies. N/A 1 Year
Master’s of Science in Economics & Computation The master’s in economics and computation incorporates elements of computer science, ensuring that graduates can be competitive in the modern landscape. This program is ideal for any professionals interested in big data and its applications. $64,341 2 Years
Master’s of Business Administration (MBA) in Economics An MBA in economics provides a general business foundation in addition to a study of economics. Other subjects include marketing, production and operations management, and leadership. $60,193 2 Years

Graduates from MBA in economics online programs are expected to competently work with and analyze data. While schools and programs will differ in their coursework, all programs will cover general business skills. Below, we lay out a sample online MBA in economics program and explain how it will help you in the workplace.

Course Competencies Developed Occupational Skill Level
Policy Analysis Analyze, critique, and improve economic policies and related economic tools TITLE: Economist

SALARY: growth of 14%

Econometrics Complete empirical work in economics and analyze data TITLE: Behavioral Economist

SALARY: growth of 3%

Statistical Analysis Analyze data, use SAS, and learn descriptive statistics TITLE: Analytical Data Scientist

SALARY: growth of 32%

An economics MBA online prepares graduates for many careers. Below, are a few of the more popular options.

Economist Median Salary: $71,385
  • Government Office
  • Company Office
The primary responsibility of an economist is to advise their organization about economic matters, which can include taxes, transportation, international trade/development, and more.
Behavioral Economist Median Salary: $72,633
  • Government Office
  • Company Office
Blending psychology with economics, behavioral economists utilize data about human behavior to make informed decisions in economic policy. The field often deals with consumer behavior.
Analytical Data Scientist Median Salary: $80,500
  • Government Office
  • Company Office
Analytical data scientists make sense of numbers and statistics, using them to provide recommendations to their companies.
Rank School Location Cost Toggle Logo Tuition % Receiving Financial Aid Student Population School Type Description

Carnegie Mellon University

Location Pittsburgh, PA Tuition Tuition $115,000 % Receiving Financial Aid 38% Student Population 12,963 School Type Private
Concentrations
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Gardner-Webb University

Location Boiling Springs, NC Tuition Tuition $19,800 % Receiving Financial Aid 40% Student Population 4,329 School Type Private
Concentrations
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Idaho State University

Location Pocatello, ID Tuition Tuition $21,924 % Receiving Financial Aid 49% Student Population 13,078 School Type Public
Concentrations
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Mercer University

Location Macon, GA Tuition Tuition $26,640 % Receiving Financial Aid 65% Student Population 8,600 School Type Private
Concentrations
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North Park University

Location Chicago, IL Tuition Tuition $41,400 % Receiving Financial Aid 70% Student Population 3,159 School Type Private
Concentrations
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Regent University

Location Virginia Beach, VA Tuition Tuition $27,300 % Receiving Financial Aid 76% Student Population 6,950 School Type Private
Concentrations
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Southern Illinois University - Carbondale

Location Carbondale, IL Tuition Tuition $36,000 % Receiving Financial Aid 61% Student Population 17,292 School Type Public
Concentrations
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Southern New Hampshire University

Location Manchester, NH Tuition Tuition $22,572 % Receiving Financial Aid 67% Student Population 61,285 School Type Private
Concentrations
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Wright State University

Location Dayton, OH Tuition Tuition $21,120 % Receiving Financial Aid 55% Student Population 17,070 School Type Public
Concentrations
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If you’ve decided that an MBA in economics is right for you, then it is time to start narrowing down the list of schools you are interested in. Here are a few tips and tricks to help you through this process.

  • Search for schools in your area

    Even though you are looking for online programs, it can be helpful to choose a school that is within a 100 mile radius of your home. Online students often report that they enjoy having the ability to visit campus if they want to. In addition, schools often partner with local businesses, meaning a school in your area will have a better chance of helping you find a job close to home.

  • Compare student outcomes data

    Many schools will readily provide this information on their website; however, if you can’t find it, be sure to contact the school and ask for it. This data should include graduation rates, employment rates, and the compensation levels of recent graduates. When looked at side-by-side, this information can give you an easy glimpse of program quality.

  • Estimate the expected costs of your programs

    Prospective students often underestimate the total cost of their program. Make sure you calculate the total number of credit hours you will need to graduate, and multiply that by cost per credit hour. Do not forget to include the cost of supplies, internet, and time you will spend not earning an income. Additionally, compare financial aid options, different schools may offer better financial aid packages and/or scholarships that can offset the cost of education.

  • Check that classes will fit in with your schedule

    One of the central benefits of online education is flexibility. However, some programs will require set meeting times, synchronous workshops, and mandatory campus visits. Be sure that you are aware of all time commitments and that they will fit into your current schedule.

  • Look for partnerships with local businesses

    The main objective of getting your MBA in economics is to find a job with a healthy salary in a field you enjoy. Attending a school that is well connected with local businesses can be an advantage. Many of these partners will offer internships to students that can lead to full-time employment or provide the network and experience you need to get a job elsewhere.

  • Make sure the program is accredited

    Accreditation is the formal review process that ensures a school is offering a reputable program that adheres to minimum academic standards. The Association to Advance Collegiate Schools of Business is the national agency that accredits for undergraduate, master’s and doctoral programs in business and accounting. By checking a program’s status with the AACSB, you can be confident you are receiving a recognized, quality degree. Employers generally will not hire job candidates who possess a degree from a school that is not accredited, and schools will not accept academic credentials from an unaccredited program.

  • Talk to current students and/or recent alumni

    One of the best resources when it comes to making a final decision on an online MBA in Economics program is actual students and graduates. They can give you an unbiased, real-world take on how the program has served them, what they have liked, and what they have disliked. Ask an admissions counselor to put you in touch with a current student or recent alumni. Alternatively, use LinkedIn or Facebook to find and reach out to people.

Earning an MBA in economics online can go a long way towards acquiring a job in the field, and there are a number of certificates that can help strengthen your resume. Some of these certificates are prerequisites for higher-level jobs in the field. Below, we’ve highlighted two industry standard certificates.

Liscense Description
Certified Business Economist (CBE) This certification focuses on applied economics and data analytics. The CBE shows that you understand data in a practical, applicable sense.
Certified Economic Developer (CEcD) This certification focuses on economic development. As the industry standard certificate, the CEcD is crucial for professionals pursuing upper level positions in economic development.

There are a number of scholarships available to students in economics. Most are merit-based, and in many cases, the amount of the award varies based on the qualifications of the applicant. In addition to economics-specific scholarships, there are a number of general scholarships that can be applied towards studies in the economics field, such as the Gates Millennium Scholarship. There are a number of ways to reduce the cost of your online MBA in economics.