There are many good reasons you should investigate going to a graduate school and earning an advanced degree in business economics. A higher education such as a Master of Business typically will give you a competitive edge over other job position applicants, enable you to obtain a higher earnings potential and create opportunities for promotions within your organization. The result of getting a master's degree in economics would be an overall more successful career and preparing you for the future.

Master's Degree Benefits:

  • Credibility
  • Strategic thinking
  • More job opportunities
  • Higher income
  • Competitive earning potential

Career Options with an MBA in Economics:

  • Economic Manager in Legal Services - $216,960
  • Economic Manager in Federal Executive Branch (OEWS Designation) - $128,640
  • Economic Manager in Management, Scientific, and Technical Consulting Services - $136,140
  • Economic Manager in Scientific Research and Development Services - $132,510
  • Economic Manager in Local Government, excluding schools and hospitals (OEWS Designation) - $87,150

*Bureau of Labor Statistics, U.S. Department of Labor, Occupational Outlook Handbook, Economics Managers, on the Internet at (visited March 24, 2022).

Graduate Degree Types for Business Management Concentrations:

  • M.S. in Economics
  • M.A. in Economics
  • MBA in Economics

Find an online bachelor's or master's degree:


Generally speaking, most master's degrees in economics take approximately two to three years for full-time students to complete. Traditional programs usually consist of 36 to 54 credit hours of coursework, or approximately 12 - 18 college courses. It is important to note that some institutions offer accelerated degree programs, often designed to help students earn a bachelors and masters economics degree simultaneously and in less time. Some high schools also offer college credit for certain courses, which can shorten the graduation timeframe.

It is important to realize, however, that students enrolled part-time are unlikely to graduate within 2 years. Those taking only a few classes per semester typically graduate within three to four years.

Before choosing a major there are some important facts you should know about.

As you begin exploring colleges and universities, you may already know what you want to major in. If you have an economics graduate concentration in mind, look through the graduate catalog, either online or a copy of the book and browse the majors offered by that college. If you find this major, this will be one school you'll want to consider attending; if not, then cross the school from your list and move on to the next.

If you're uncertain what economics masters specialty degree you're interested in, try to find a school with a robust variety of courses, that will let you experience a few varied lower level classes and allow you to figure out what you enjoy while you work through your general education.

An economics master's degree will consist of some particular training courses to increase your subject knowledge. Generally, a master's degree in economics looks like your upper division classes on a bachelors, but with a graduate degree or advanced degree the courses are more specific and will require additional critical thinking skills. Below is a sample of online master's degree courses so you can see the kind of curriculum that will be typically found. Universities will differ in their specific study's needed and required. Compare colleges very carefully on the courses they will require you to take to gain your master's degree in economics. Sample courses you may need:

  • Introduction to Mathematical Economics
  • Macroeconomic Theory
  • Microeconomics
  • Applied Econometrics I
  • Labor Economics
  • Survey of Economic Development
  • Financial Stability and Growth
  • Economic forecasting

About 61% of college students complete their two-year economics graduate degree on time. The National Student Clearinghouse Research Center study if the question suggests that money and family income is a large factor in the rate of non-achievement. In-state public college tuition rates have traditionally been the lower range for leading schools. Depending on the college you are choosing, some colleges will have the same cost for in-state or out-of-state students, whereas other colleges may offer lower costs for students that are residents. According to, the average cost of master's degree for students is between $30,000 and $120,000.

Many students run out of money and take reduced course loads to accommodate increased work and other money-making activities. Low per-semester credit-hour rates means more time required to complete a master's degree. Reducing the per semester course load from 12 to 9 or even 6 credit hours can add a year to the time needed to complete a master’s program.

Among the reasons cited for the low rate of two-year completions were student decisions in course selection. Many students choose interesting subjects and neglect to grab key courses when available. The failure to take a required course when offered can add a semester to the completion of a major or concentration.

The student experience is a vital piece of information. The graduation rate is often a predictor of the student experience. Factors that can influence late graduation include the availability of required coursework and dropouts for financial reasons. School surveys often have information similar to customer satisfaction information on other businesses. It may be useful to see responses from recent graduates about their experiences. The student survey observations will not predict your experience, but they can lead to productive questions about the school and the doctoral degree program.

A two-year doctoral degree in economics is an investment into your future. The cost of tuition can vary widely depending on the academic excellence of the university and the specific field of study chosen. You can expect tuition for a doctorate degree in economics to cost anywhere from $15,000-$60,000 per year. The cost of tuition for online degrees is typically the same cost as on-campus. When talking about costs, it is important to factor in textbooks, technology, as well as room and board, as those costs are separate from tuition. These are average college tuition costs and does not include financial aid. It is important for each and every student to seek out financial aid options to help pay for their college tuition.

The cost of your education is worth every penny, because it is an investment in your future. You may feel that you are investing too much money in a degree but remember that it will all come back to you. Once you get the career that you've been aiming for, you will be to pay off your student loans and live a better life.

You can't afford to take time to redraft your resume, write attention-grabbing cover letters, schedule job interviews, practice your interview skills, or parry salary offers. Not when you're student-teaching and getting ready to graduate.

That is why most universities and colleges have offices where career and placement service professionals can help you with all of the above. If your resume needs to be updated or even totally rewritten, they will help you. If you need to brush up on your interview skills, they can assist you.

Some campuses even hold professional development workshops. These may include networking skills, resume writing, and interviewing skills.