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Online Economics Degrees

If money rules the world, economics is the study of how the world works. This powerful field of study can open the door to a variety of fields, including government, business, international relations, academics or even medicine. Studies in economics can help you develop the logical and analytical skills needed in many occupations.

Economics majors may use their quantitative skills to work with data and statistics, develop economic models, conduct research and analysis, or evaluate organizational operations. With additional training, they can seek roles in accounting, finance, law, management and more.

Specializations and options for economists

Campus-based or online economics degrees are the first step toward a wide range of careers. The field of economics includes these common careers, shown with their main emphasis:

  1. Microeconomists: Supply and demand for one individual entity
  2. Industrial/organizational economists: Industry structure and how decisions are made within a larger market
  3. Monetary/financial economists: The banking system and changing interest rates
  4. International economists: Overseas economies, exchange rates, tariffs and international banking
  5. Labor/demographic economists: Unemployment, wages, immigration and labor laws
  6. Econometricians: Research including game theory, regression analysis and mathematical concepts

The American Economic Association notes that employers could include non-profit organizations, consulting firms, or government entities ranging from the Federal Reserve Board to the Central Intelligence Agency.

Economics: education and training

While some entry level careers in economics may accept those with only a bachelor's degree, many positions require advanced degrees. The U.S. Bureau of Labor Statistics also describes the qualifications for various related positions. For example, financial managers need a minimum of a bachelor's degree in finance, accounting, economics or business administration, but a master's degree and certification could offer better opportunities. For analyst careers, a master's degree is preferred, while private sector jobs or management roles for economists often require a master's degree or a Ph.D.

Mid-career professionals in the field often hone their skills further, and sometimes this continuing education is financed by their employers. For those seeking a flexible class schedule, online economics degree programs may be found at levels ranging from associate degrees and certificates to advanced doctoral programs.

Career outlook and salary for economists

Economics as a field evolves along with business, law and public policy. Unlike some careers in business that rely heavily on market trends, economists are valued for their knowledge in struggling economies as well as booming times.

The BLS projects that jobs for economists could grow more slowly than average in the 2008-2018 decade, however, careers such as operations research analysts and management analysts should grow much faster than average. Take a look at mean annual wages in 2010 for related careers, according to the BLS:

  1. Operations research analysts: $76,980
  2. Management analysts: $87,260
  3. Economists: $99,350
  4. Financial managers: $116,970

If you are already a working professional, or juggling multiple responsibilities, online economics degree programs offer one way to enhance your qualifications and pursue your goals.

Economics Schools

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