What You Should Know About This Degree
When selecting a master’s in economics program, your first decision is what type of degree you want to earn. Your options include a Master of Science degree, which has an in-depth, technical focus; a Master of Business Administration, which teaches economic principles through a business lens, and a Master of Arts, which takes a theoretical approach to the field. Consider your career goals, and what orientation best suits your interests when choosing a program.
Although a master’s degree is the minimum level of education needed for economist jobs, because of the advanced research and analytical skills needed, many individuals also earn a doctorate degree. This opens up job opportunities, and helps you obtain higher-level positions.
If you are considering a doctorate, factor that into your master’s program selection process. You will want to attend a regionally accredited school, and may find it helpful to complete a thesis as part of your master’s degree.
Many master’s programs offer a broad-based education, but there are a number of specialization areas within economics, including community and economic development, behavioral economics, and health economics. Some programs offer a degree in that specific area, while others allow students to build that focus into their degree through electives. This is also something you’ll want to consider when researching programs.
Here are some questions to ask when researching Online Master’s in Economics programs:
- Am I eligible for this program? Most master’s in economics programs accept students from all backgrounds, although they may have prerequisites for coursework in mathematics, business or research. Look carefully at the program’s eligibility requirements before applying to ensure that you meet the minimum qualifications for admission.
- Are there any in-person requirements? Although a program may deliver all coursework online, students may still be required to complete some in-person components of the program. These components may include internships, externships, or residencies. During your research, review the curriculum to see if it includes any in-person requirements, so you can plan on accommodating them in your schedule and budget.
Other steps you can take at this point include gathering your application materials, confirming application deadlines and procedures, and planning how you will fund your graduate degree. Admissions representatives and financial aid counselors can assist you if you have questions. Funding resources include student loans, scholarships, assistantships, and tuition benefits from your employer, if you are currently working.