50 Most Affordable Economics Programs

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Economics is a field that is at least as old as the United States, when Adam Smith published The Wealth of Nations, in 1776. However, economic thinking dates to the ancient Greeks and early scholars in the Middle East. These days, economic models and theories inform our daily lives. Economists help determine prices for things like fuel, groceries, and theater tickets. They also evaluate big data troves from the internet which is used to track all sorts of trends.

An affordable economics degree program can thus help students launch into the job market prepared to succeed. The skills that a degree in economics offers can apply to a wide variety of fascinating and rewarding jobs. It's possible to find economics majors working as actuaries, salespeople, market analysts, and even managers, to name a few possibilities.

This page was created to help aspiring economists learn more about how to find an affordable economics degree program.

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Top 50 Affordable Economics Colleges and Universities

1

Berea College

Score: 100

Undergraduate Tuition
- In-State: $49,326
- Out-of-State: $49,326
Net Price: $2,020
Acceptance Rate: 25%
Retention Rate: 82%

Graduation Rate: 62%
Total Enrollment: 1,433
Undergrad Students: 1,433
Graduate Students: N/A
Grads Salary: $66,000
Student-to-faculty: 8:1

2

CUNY Hunter College

Score: 83.9

Undergraduate Tuition
- In-State: $7,382
- Out-of-State: $15,332
Net Price: $4,848
Acceptance Rate: 48%
Retention Rate: 80%

Graduation Rate: 56%
Total Enrollment: 22,970
Undergrad Students: 17,256
Graduate Students: 5,714
Grads Salary: $73,000
Student-to-faculty: 14:1

3

CUNY Lehman College

Score: 83.18

Undergraduate Tuition
- In-State: $7,410
- Out-of-State: $15,360
Net Price: $4,974
Acceptance Rate: 55%
Retention Rate: 71%

Graduation Rate: 54%
Total Enrollment: 13,015
Undergrad Students: 11,211
Graduate Students: 1,804
Grads Salary: $71,000
Student-to-faculty: 15:1

4

CUNY Bernard M Baruch College

Score: 83.09

Undergraduate Tuition
- In-State: $7,464
- Out-of-State: $15,414
Net Price: $4,991
Acceptance Rate: 50%
Retention Rate: 84%

Graduation Rate: 74%
Total Enrollment: 19,854
Undergrad Students: 15,896
Graduate Students: 3,958
Grads Salary: $81,000
Student-to-faculty: 19:1

5

CUNY John Jay College of Criminal Justice

Score: 83.03

Undergraduate Tuition
- In-State: $7,470
- Out-of-State: $15,420
Net Price: $5,001
Acceptance Rate: 51%
Retention Rate: 76%

Graduation Rate: 54%
Total Enrollment: 13,921
Undergrad Students: 12,061
Graduate Students: 1,860
Grads Salary: $71,000
Student-to-faculty: 16:1

6

Texas A&M International University

Score: 80.86

Undergraduate Tuition
- In-State: $7,846
- Out-of-State: $19,382
Net Price: $5,383
Acceptance Rate: 48%
Retention Rate: 79%

Graduation Rate: 49%
Total Enrollment: 8,505
Undergrad Students: 6,979
Graduate Students: 1,526
Grads Salary: $80,000
Student-to-faculty: 19:1

7

California State University-Los Angeles

Score: 78.48

Undergraduate Tuition
- In-State: $6,818
- Out-of-State: $18,698
Net Price: $5,801
Acceptance Rate: 87%
Retention Rate: 73%

Graduation Rate: 51%
Total Enrollment: 26,460
Undergrad Students: 22,737
Graduate Students: 3,723
Grads Salary: $77,000
Student-to-faculty: 22:1

8

CUNY Brooklyn College

Score: 77.5

Undergraduate Tuition
- In-State: $7,452
- Out-of-State: $15,402
Net Price: $5,972
Acceptance Rate: 55%
Retention Rate: 77%

Graduation Rate: 55%
Total Enrollment: 14,195
Undergrad Students: 11,661
Graduate Students: 2,534
Grads Salary: $76,000
Student-to-faculty: 13:1

9

CUNY Queens College

Score: 74.87

Undergraduate Tuition
- In-State: $7,538
- Out-of-State: $15,488
Net Price: $6,434
Acceptance Rate: 69%
Retention Rate: 77%

Graduation Rate: 56%
Total Enrollment: 17,001
Undergrad Students: 14,406
Graduate Students: 2,595
Grads Salary: $75,000
Student-to-faculty: 14:1

10

Indiana University-Northwest

Score: 74.2

Undergraduate Tuition
- In-State: $8,179
- Out-of-State: $22,043
Net Price: $6,553
Acceptance Rate: 80%
Retention Rate: 68%

Graduation Rate: 37%
Total Enrollment: 3,198
Undergrad Students: 2,860
Graduate Students: 338
Grads Salary: $63,000
Student-to-faculty: 12:1

11

CUNY York College

Score: 73.53

Undergraduate Tuition
- In-State: $7,358
- Out-of-State: $15,308
Net Price: $6,670
Acceptance Rate: 59%
Retention Rate: 61%

Graduation Rate: 33%
Total Enrollment: 6,446
Undergrad Students: 6,199
Graduate Students: 247
Grads Salary: $73,000
Student-to-faculty: 14:1

12

College of Staten Island CUNY

Score: 70.42

Undergraduate Tuition
- In-State: $7,490
- Out-of-State: $15,440
Net Price: $7,217
Acceptance Rate: 100%
Retention Rate: 69%

Graduation Rate: 35%
Total Enrollment: 10,248
Undergrad Students: 9,299
Graduate Students: 949
Grads Salary: $73,000
Student-to-faculty: 16:1

13

Northern Kentucky University

Score: 70.18

Undergraduate Tuition
- In-State: $10,896
- Out-of-State: $21,480
Net Price: $7,259
Acceptance Rate: 86%
Retention Rate: 77%

Graduation Rate: 50%
Total Enrollment: 15,801
Undergrad Students: 10,776
Graduate Students: 5,025
Grads Salary: $72,000
Student-to-faculty: 17:1

14

California State University-Fresno

Score: 68.77

Undergraduate Tuition
- In-State: $6,980
- Out-of-State: $18,860
Net Price: $7,507
Acceptance Rate: 95%
Retention Rate: 76%

Graduation Rate: 56%
Total Enrollment: 23,999
Undergrad Students: 21,354
Graduate Students: 2,645
Grads Salary: $77,000
Student-to-faculty: 21:1

15

California State University-Bakersfield

Score: 68.69

Undergraduate Tuition
- In-State: $7,696
- Out-of-State: $19,576
Net Price: $7,521
Acceptance Rate: 87%
Retention Rate: 73%

Graduation Rate: 50%
Total Enrollment: 9,613
Undergrad Students: 8,188
Graduate Students: 1,425
Grads Salary: $78,000
Student-to-faculty: 19:1

16

California State University-Stanislaus

Score: 68.49

Undergraduate Tuition
- In-State: $7,826
- Out-of-State: $19,706
Net Price: $7,555
Acceptance Rate: 97%
Retention Rate: 81%

Graduation Rate: 55%
Total Enrollment: 10,154
Undergrad Students: 8,926
Graduate Students: 1,228
Grads Salary: $76,000
Student-to-faculty: 18:1

17

Brigham Young University-Idaho

Score: 66.53

Undergraduate Tuition
- In-State: $4,656
- Out-of-State: $4,656
Net Price: $7,899
Acceptance Rate: 96%
Retention Rate: 68%

Graduation Rate: 54%
Total Enrollment: 43,023
Undergrad Students: 43,023
Graduate Students: N/A
Grads Salary: $69,000
Student-to-faculty: 19:1

18

California State University-Fullerton

Score: 66.39

Undergraduate Tuition
- In-State: $7,073
- Out-of-State: $18,953
Net Price: $7,925
Acceptance Rate: 67%
Retention Rate: 86%

Graduation Rate: 69%
Total Enrollment: 40,386
Undergrad Students: 35,432
Graduate Students: 4,954
Grads Salary: $80,000
Student-to-faculty: 24:1

19

The University of Texas Rio Grande Valley

Score: 65.36

Undergraduate Tuition
- In-State: $9,859
- Out-of-State: $19,939
Net Price: $8,105
Acceptance Rate: 88%
Retention Rate: 76%

Graduation Rate: 53%
Total Enrollment: 31,559
Undergrad Students: 26,434
Graduate Students: 5,125
Grads Salary: $66,000
Student-to-faculty: 19:1

20

Farmingdale State College

Score: 65.33

Undergraduate Tuition
- In-State: $8,576
- Out-of-State: $18,486
Net Price: $8,111
Acceptance Rate: 73%
Retention Rate: 81%

Graduation Rate: 54%
Total Enrollment: 9,314
Undergrad Students: 9,264
Graduate Students: 50
Grads Salary: $65,000
Student-to-faculty: 18:1

21

University of North Carolina at Pembroke

Score: 64.77

Undergraduate Tuition
- In-State: $3,571
- Out-of-State: $7,571
Net Price: $8,208
Acceptance Rate: 90%
Retention Rate: 72%

Graduation Rate: 45%
Total Enrollment: 7,666
Undergrad Students: 5,643
Graduate Students: 2,023
Grads Salary: $56,000
Student-to-faculty: 14:1

22

Indiana University-Southeast

Score: 64.46

Undergraduate Tuition
- In-State: $8,179
- Out-of-State: $22,043
Net Price: $8,264
Acceptance Rate: 85%
Retention Rate: 61%

Graduation Rate: 35%
Total Enrollment: 3,672
Undergrad Students: 3,227
Graduate Students: 445
Grads Salary: $69,000
Student-to-faculty: 12:1

23

University of Science and Arts of Oklahoma

Score: 63.74

Undergraduate Tuition
- In-State: $9,000
- Out-of-State: $20,190
Net Price: $8,390
Acceptance Rate: 56%
Retention Rate: 60%

Graduation Rate: 40%
Total Enrollment: 825
Undergrad Students: 825
Graduate Students: N/A
Grads Salary: $74,000
Student-to-faculty: 16:1

24

University of Wisconsin-Parkside

Score: 63.06

Undergraduate Tuition
- In-State: $7,855
- Out-of-State: $16,497
Net Price: $8,510
Acceptance Rate: 73%
Retention Rate: 71%

Graduation Rate: 40%
Total Enrollment: 3,947
Undergrad Students: 3,236
Graduate Students: 711
Grads Salary: $71,000
Student-to-faculty: 17:1

25

The University of West Florida

Score: 62.49

Undergraduate Tuition
- In-State: $6,360
- Out-of-State: $19,241
Net Price: $8,609
Acceptance Rate: 48%
Retention Rate: 85%

Graduation Rate: 53%
Total Enrollment: 13,521
Undergrad Students: 9,291
Graduate Students: 4,230
Grads Salary: $67,000
Student-to-faculty: 22:1

26

Marshall University

Score: 61.66

Undergraduate Tuition
- In-State: $8,942
- Out-of-State: $20,294
Net Price: $8,756
Acceptance Rate: 97%
Retention Rate: 74%

Graduation Rate: 50%
Total Enrollment: 10,691
Undergrad Students: 7,952
Graduate Students: 2,739
Grads Salary: $68,000
Student-to-faculty: 16:1

27

Indiana University-South Bend

Score: 61.49

Undergraduate Tuition
- In-State: $8,179
- Out-of-State: $22,043
Net Price: $8,785
Acceptance Rate: 87%
Retention Rate: 66%

Graduation Rate: 36%
Total Enrollment: 4,326
Undergrad Students: 3,753
Graduate Students: 573
Grads Salary: $67,000
Student-to-faculty: 12:1

28

California State University-San Bernardino

Score: 61.38

Undergraduate Tuition
- In-State: $7,675
- Out-of-State: $19,555
Net Price: $8,805
Acceptance Rate: 91%
Retention Rate: 80%

Graduation Rate: 54%
Total Enrollment: 19,803
Undergrad Students: 17,034
Graduate Students: 2,769
Grads Salary: $74,000
Student-to-faculty: 23:1

29

California State University-Northridge

Score: 60.63

Undergraduate Tuition
- In-State: $7,095
- Out-of-State: $18,975
Net Price: $8,936
Acceptance Rate: 91%
Retention Rate: 75%

Graduation Rate: 56%
Total Enrollment: 37,579
Undergrad Students: 32,181
Graduate Students: 5,398
Grads Salary: $81,000
Student-to-faculty: 24:1

30

North Carolina A&T State University

Score: 59.19

Undergraduate Tuition
- In-State: $6,748
- Out-of-State: $20,408
Net Price: $9,189
Acceptance Rate: 56%
Retention Rate: 74%

Graduation Rate: 57%
Total Enrollment: 13,487
Undergrad Students: 11,833
Graduate Students: 1,654
Grads Salary: $79,000
Student-to-faculty: 19:1

31

California State University-Long Beach

Score: 58.3

Undergraduate Tuition
- In-State: $7,008
- Out-of-State: $18,888
Net Price: $9,346
Acceptance Rate: 40%
Retention Rate: 85%

Graduation Rate: 73%
Total Enrollment: 38,973
Undergrad Students: 32,931
Graduate Students: 6,042
Grads Salary: $79,000
Student-to-faculty: 22:1

32

Utah Valley University

Score: 58.3

Undergraduate Tuition
- In-State: $6,270
- Out-of-State: $17,830
Net Price: $9,346
Acceptance Rate: 100%
Retention Rate: 68%

Graduation Rate: 39%
Total Enrollment: 43,099
Undergrad Students: 42,296
Graduate Students: 803
Grads Salary: $68,000
Student-to-faculty: 25:1

33

University of Alaska Fairbanks

Score: 57.7

Undergraduate Tuition
- In-State: $8,640
- Out-of-State: $22,752
Net Price: $9,450
Acceptance Rate: 100%
Retention Rate: 70%

Graduation Rate: 39%
Total Enrollment: 6,607
Undergrad Students: 5,636
Graduate Students: 971
Grads Salary: $82,000
Student-to-faculty: 11:1

34

The University of Texas at El Paso

Score: 57.06

Undergraduate Tuition
- In-State: $9,744
- Out-of-State: $25,512
Net Price: $9,563
Acceptance Rate: 100%
Retention Rate: 75%

Graduation Rate: 47%
Total Enrollment: 23,880
Undergrad Students: 20,165
Graduate Students: 3,715
Grads Salary: $73,000
Student-to-faculty: 19:1

35

Florida Atlantic University

Score: 56.22

Undergraduate Tuition
- In-State: $4,879
- Out-of-State: $17,324
Net Price: $9,711
Acceptance Rate: 81%
Retention Rate: 81%

Graduation Rate: 62%
Total Enrollment: 29,592
Undergrad Students: 24,191
Graduate Students: 5,401
Grads Salary: $71,000
Student-to-faculty: 22:1

36

Shepherd University

Score: 55.56

Undergraduate Tuition
- In-State: $8,642
- Out-of-State: $19,082
Net Price: $9,827
Acceptance Rate: 96%
Retention Rate: 70%

Graduation Rate: 48%
Total Enrollment: 3,235
Undergrad Students: 2,718
Graduate Students: 517
Grads Salary: $74,000
Student-to-faculty: 15:1

37

Governors State University

Score: 55.52

Undergraduate Tuition
- In-State: $11,320
- Out-of-State: $11,320
Net Price: $9,833
Acceptance Rate: 57%
Retention Rate: 56%

Graduation Rate: 21%
Total Enrollment: 4,427
Undergrad Students: 2,609
Graduate Students: 1,818
Grads Salary: $68,000
Student-to-faculty: 10:1

38

Florida International University

Score: 55.25

Undergraduate Tuition
- In-State: $6,565
- Out-of-State: $18,963
Net Price: $9,881
Acceptance Rate: 64%
Retention Rate: 91%

Graduation Rate: 69%
Total Enrollment: 55,609
Undergrad Students: 45,688
Graduate Students: 9,921
Grads Salary: $71,000
Student-to-faculty: 24:1

39

Missouri Southern State University

Score: 54.23

Undergraduate Tuition
- In-State: $8,400
- Out-of-State: $16,800
Net Price: $10,061
Acceptance Rate: 99%
Retention Rate: 62%

Graduation Rate: 36%
Total Enrollment: 4,144
Undergrad Students: 4,052
Graduate Students: 92
Grads Salary: $62,000
Student-to-faculty: 17:1

40

University of Illinois Chicago

Score: 52.39

Undergraduate Tuition
- In-State: $14,338
- Out-of-State: $29,360
Net Price: $10,384
Acceptance Rate: 79%
Retention Rate: 78%

Graduation Rate: 62%
Total Enrollment: 33,747
Undergrad Students: 21,807
Graduate Students: 11,940
Grads Salary: $80,000
Student-to-faculty: 18:1

41

New Mexico State University

Score: 52.26

Undergraduate Tuition
- In-State: $8,147
- Out-of-State: $25,271
Net Price: $10,407
Acceptance Rate: 78%
Retention Rate: 72%

Graduation Rate: 51%
Total Enrollment: 14,268
Undergrad Students: 11,591
Graduate Students: 2,677
Grads Salary: $76,000
Student-to-faculty: 16:1

42

California State University-San Marcos

Score: 51.94

Undergraduate Tuition
- In-State: $7,739
- Out-of-State: $19,619
Net Price: $10,463
Acceptance Rate: 95%
Retention Rate: 72%

Graduation Rate: 57%
Total Enrollment: 15,109
Undergrad Students: 13,914
Graduate Students: 1,195
Grads Salary: $74,000
Student-to-faculty: 23:1

43

Weber State University

Score: 51.59

Undergraduate Tuition
- In-State: $6,391
- Out-of-State: $17,084
Net Price: $10,525
Acceptance Rate: 100%
Retention Rate: 68%

Graduation Rate: 42%
Total Enrollment: 29,914
Undergrad Students: 28,903
Graduate Students: 1,011
Grads Salary: $76,000
Student-to-faculty: 21:1

44

University of Washington

Score: 51.14

Undergraduate Tuition
- In-State: $12,643
- Out-of-State: $41,997
Net Price: $10,603
Acceptance Rate: 48%
Retention Rate: 94%

Graduation Rate: 84%
Total Enrollment: 52,319
Undergrad Students: 36,213
Graduate Students: 16,106
Grads Salary: $87,000
Student-to-faculty: 21:1

45

University of North Carolina at Chapel Hill

Score: 51.08

Undergraduate Tuition
- In-State: $8,989
- Out-of-State: $39,330
Net Price: $10,614
Acceptance Rate: 17%
Retention Rate: 96%

Graduation Rate: 91%
Total Enrollment: 31,705
Undergrad Students: 20,029
Graduate Students: 11,676
Grads Salary: $77,000
Student-to-faculty: 17:1

46

Kean University

Score: 50.32

Undergraduate Tuition
- In-State: $13,426
- Out-of-State: $21,076
Net Price: $10,747
Acceptance Rate: 83%
Retention Rate: 74%

Graduation Rate: 51%
Total Enrollment: 12,884
Undergrad Students: 10,845
Graduate Students: 2,039
Grads Salary: $71,000
Student-to-faculty: 16:1

47

Florida Gulf Coast University

Score: 49.83

Undergraduate Tuition
- In-State: $6,118
- Out-of-State: $25,162
Net Price: $10,834
Acceptance Rate: 74%
Retention Rate: 81%

Graduation Rate: 59%
Total Enrollment: 15,969
Undergrad Students: 14,130
Graduate Students: 1,839
Grads Salary: $63,000
Student-to-faculty: 20:1

48

University of Michigan-Flint

Score: 49.79

Undergraduate Tuition
- In-State: $14,014
- Out-of-State: $31,274
Net Price: $10,840
Acceptance Rate: 66%
Retention Rate: 77%

Graduation Rate: 46%
Total Enrollment: 5,985
Undergrad Students: 4,609
Graduate Students: 1,376
Grads Salary: $69,000
Student-to-faculty: 13:1

49

University of North Carolina at Greensboro

Score: 49

Undergraduate Tuition
- In-State: $7,593
- Out-of-State: $23,339
Net Price: $10,979
Acceptance Rate: 92%
Retention Rate: 73%

Graduation Rate: 58%
Total Enrollment: 17,978
Undergrad Students: 14,198
Graduate Students: 3,780
Grads Salary: $65,000
Student-to-faculty: 17:1

50

University of South Florida

Score: 48.86

Undergraduate Tuition
- In-State: $6,410
- Out-of-State: $17,324
Net Price: $11,004
Acceptance Rate: 44%
Retention Rate: 90%

Graduation Rate: 74%
Total Enrollment: 49,600
Undergrad Students: 38,047
Graduate Students: 11,553
Grads Salary: $73,000
Student-to-faculty: 22:1

Why a Degree from an Affordable Economics Program?

Economics is the study of financial values in a society. It measures how things like price can determine market efficacy and how consumers respond to various other qualities by spending. Future economists, then, seek to find economics degree programs that appeal to their intellectual and financial realities. Different economics degree programs offer different qualities that appeal to students in different ways.

Economics students should think of an economics degree program as affordable if it both is within their reach in terms of their immediate financial situation and if it promises academic value that will make them successful economists. This balance of price and value will help economics students discover the economics program that is the most affordable for them, not only today but for the duration of their careers.

One great thing about economics is the variety of outcomes it can yield. Unlike some other specialized undergraduate degree programs, economics provides students with a wide range of skill sets. Economics degree programs teach students quantitative analysis, critical thinking, and more. Graduates of these programs emerge with tools to evaluate trends in the macro economy as well as the ability to assess an individual company.

Some economics students embrace quantitative work and begin to gravitate towards mathematics and statistics. These students may take on skills from computer science and find themselves working with big data to evaluate societal trends. This sort of data science approach is in high demand these days, and economics students with these skills will do very well indeed.

Choosing an Affordable Economics Degree College

Once an economics student determines that they want to attend the most affordable program possible, they suddenly find that they are faced with a myriad of variables. To determine the most affordable program for them, they need to factor in things such as tuition, location, long-term value, return on investment, academic quality, and more. Since tuition is probably the figure that first leaps to mind when evaluating an affordable economics degree, students should be careful to be discerning with this number. If you look a little deeper, the gross tuition number is not necessarily what students will pay. Rather, financial aid can dramatically impact the cost of their college credits. In fact, some seemingly expensive private colleges are able to get their costs down in competition with public universities because their financial aid departments hep students find grants, scholarships, and student loans that make the cost less extreme.

As for location, this can impact affordability quite a lot. If an economics program is across the country, it will obviously be expensive to travel there and back between terms. The economics program might also be in an expensive urban area, such as the Bay Area or New York City, for example. If an economics student wants to attend one of those programs, it may be worthwhile to investigate an online option. On the other hand, students might also find that a local college or university has an economics department that has top accreditation and a program that suits them in terms of focus areas, courses offered, etc. Again, mitigating factors such as scholarships, grants, and other financial aid instruments can be a terrific boon to economics students.

Find Online Economics Schools

Academic quality should be a chief concern when determining whether an economics program is affordable. This can be ascertained by evaluating a program's accreditation. Economics departments should be accredited by a regional agency that has been approved by the CHEA. Students who would like to augment their degree with studies in data science or computer science should highly value those programs that boast ABET credentials. Students should also evaluate other critical statistics such as the program's retention rate, graduation rate, and salary estimates for economics degree holders. During an admission interview, students might also discuss how many graduates are admitted to top master’s degree programs.

Online Options for Economics Programs

Online education is a growing phenomenon in higher education. Students now have the option of taking some, or all, of their economics courses online. In fact, this is a great option for this subject. After all, economics is traditionally learned through simple reading and writing, two activities that are easily supported via online portals.

Many still question whether or not online degrees are as worthy as their traditional counterparts. The answer from educational researchers seems to be a resounding yes. It's also been shown that online students have the same outcomes as classroom students. In fact, economics degree programs receive the same sorts of accreditation as classroom programs. The questions of reputation and employability always linger, though.

Employers seldom care whether or not a degree comes from an online program. Their primary concern is with things like a candidate's GPA, class rank, and experience. They may even prefer to hire workers from online economics degree programs because those workers have proven that they have an extra degree of self-motivation. Plus, today's workplace is increasingly remote and a graduate from an online program is already accustomed to conducting their work through an online medium.

Since an online economics degree can offer savings in terms of living expenses and tuition, on top of the flexibility and lack of geographical constraints, students are urged to consider this option. Once freed of rigid scheduling concerns, economics students can even start work and gain relevant experience while completing on their degree in their off hours.

Are Economics Programs in High Demand?

Economics is increasingly valued by employers across the economy. Even if students don't pursue work as an economist, per se, they can capitalize on the skills they've honed during their years of study. Thus, a bachelor’s degree in economics can indeed help a person launch a highly successful and fulfilling career.

The U.S. Bureau of Labor Statistics (BLS) reports that economists are indeed in high demand. While the typical entry level education required is a master’s degree, the field is still expected to grow by 14% through 2029. Further, the median salary for economists is reported to be over $108,000. The BLS' research also reflects high demand and pay for comparable professions.

Financial analysts with a bachelor’s degree, for instance, earn a median salary of over $83,000 and their numbers are projected to grow by 5%. Economists can also look for work as market researchers, who earn more than $65,000 in median income and who only need a bachelor’s economics degree to get started. The BLS reports several other well-paid careers that educated economists can pursue with a bachelor’s degree.

These numbers indicate that there is high demand for economists in the wider economy. Thus, academia is sure to work hard on its efforts to fill that demand with viable candidates. Given this demand, many students who are considering fields such as statistics, sociology, psychology, and political science might want to consider switching their major degree field to economics. Given that these fields require similar skill sets, even a complimentary minor in economics would be a terrific addition to a resume.

What Can You Do with a Degree in Economics?

A bachelor’s degree in economics is a terrific choice because it allows the graduate so many options. The skills that economics students must master apply to so many different careers that anyone with an economics degree is sure to find success and fulfillment. They can also find work in a wide range of industries so, while the degree may seem rather specialized and narrow, the reality is quite different.

For instance, economics majors who focus on quantitative analysis can look for jobs in so many fields. Finance is one area that will appreciate their skill sets. Many economics majors start out as financial analysts and then work their way up in industries such as corporate finance, retail banking, and even as financial advisors, given the requisite credentials. This quantitative analysis might also provide the necessary background to work with big data, in which case they might work as market analysts or even for a public health department.

Economics majors can also find positions as actuaries. These professionals work for insurance companies and in risk management departments to assess the overall risk a firm is facing. This is a highly mathematical field that asks that economics students take at least one course in statistics, if not higher-level mathematics. In fact, a background in economics will be useful for many such analysts who can apply their quantitative work within a larger economic context, whether that extends beyond the firm or not.

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Economists might also find work for city, state, or even federal government. Agencies such as the BLS, FTC, and even the EPA may rely on economic analysis when they make decisions. At the local and state level, these governments frequently rely on economic forecasts when determining policy decisions and politicians need that data to help craft legislation. Thus, many economics degree holders find work for government contractors and other economic consulting firms.

Economics Graduates Earn More After College

For those who want to make money, it makes sense to study an academic field that focuses on how value moves in society. To make money, you can study money. It is certainly helpful that economists are increasingly in demand across so many industries. Businesses need the skills sets that economists bring to the table when seeking to expand their operations. They need economic analysis to help prepare for future events. While economics is not the study of clairvoyance, economic models are often predictive when placed in the context of historical trends.

Businesses can also use an economist's skill to analyze market data. Since economics is a field steeped in statistics, economics majors can use that skill to help firms determine where to allocate resources in terms of production and marketing. With skill in big data, an economist can create models that are as general or specific as a firm needs. Thus, some economists pursue work as data scientists, data analysts, and financial analysts.

When it comes to salaries, a degree in economics can help economics graduates land jobs that are well-paid. For instance, the BLS shows that market research analysts can earn a median salary of over $65,000. That is with only a bachelor’s degree, preferably one that features some coursework in marketing and statistics. Economists should also take courses that focus on research so that they can apply those skills in the workplace. Those who are able to devise clever studies can reap generous bonus payments on top of their healthy salary.

FAQs

What is the top salary potential with a degree in economics?
This number will vary according to which school of economics a student chooses. However, it may be possible to earn well into the six-figure range. Those who are able to land a position as a financial analyst with an investment bank frequently find average salaries but then generous bonus payments that launch their earnings into the stratosphere.
What can you expect from online economics degrees?
Online economics students can expect great jobs and salaries from their degrees. They should also expect to need a high level of self-discipline when it comes to assignments. However, they frequently find that their instructors are easy to contact via e-mail, which can enhance their academic experience.
What level of degree should you get in economics?
Every economics student should start with a bachelor’s degree in economics. They should also plan on completing a master’s degree in economics, if not an MBA, depending on their career aspirations. Those who wish to focus their careers specifically on economics should look towards an MA or MS in economics.
Can you complete an accelerated bachelor’s and/or master’s degree in economics?
Yes, in fact this is recommended for students who qualify for these programs. These programs are notoriously intense and very stressful. However, once students graduate with their master’s degree in economics they find that higher salaries await them. Naturally, they also don't need to worry about returning to school any time soon, if ever.

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