Economics Degree Information
A bachelor's degree in economics will give students a basic understanding of economic principles and lay the groundwork towards a business degree or a graduate economics degree. These degrees in turn can lead to lucrative jobs in finance or can prepare an individual to be an economist, educator or market researcher.
Economics Degree Study Options
An Associate of Arts in Economics can be obtained in two years of study and will give students grounding in areas such as financial planning, economic analysis and budget development. This can be sufficient for certain entry-level positions with companies requiring a basic understanding of finance, but many students will want to pursue further education. A Bachelor of Arts in Economics can be earned live or online in about four years and further provides the student with useful market analysis skills as well as helping students decide on a focus of concentration within economics.
Advanced Economics Degrees
Students can pursue a master's degree in general economics or a master's degree in a more specific subdivision of economics. They may also choose to pursue a Masters of Business Administration. Any of these degrees will increase the studentís knowledge of the financial world and potentially increase their earning power as well. Students who wish to focus on research and teaching may move on to a doctoral degree in economics.
Students who choose a master's degree in general economics will participate in studying how resources are produced, distributed and conserved, particularly in conditions where those resources are at a premium. The curriculum will also expand on the basic understanding students have of economic theory and in some cases discuss new and alternative economic theories.
Masters Of Business Administration
Students with bachelor's degrees in economics and other related disciplines may choose to pursue a Masters of Business Administration. This degree can be earned in two years at a brick and mortar university or online in a distance learning program. The degree from an accredited institution prepares one for many positions in the financial world including stock market trader and financial analyst.
Choosing A Degree
The distribution of resources is an issue that always has been and will always remain relevant. Economics draws on mathematics, history and philosophy, so students with an aptitude for any of these disciplines should find something to like in economics.
Those with degrees in economics will have many choices when it comes to career path, especially those who choose to earn a degree beyond the undergraduate stage. Economics majors can become statisticians, actuaries, loan officers, stock market traders, financial analysts, social researchers, urban planners and even news correspondents as well as, naturally, economists.
The earning potential for someone with a degree in economics is dependent only upon where they let that degree take them. Those pursuing higher degrees who acquire the right experience can have nearly limitless options in the economic arena. The average economist, who monitors and forecasts the availability, price and mode of distribution of resources, tends to make a median annual income of around $77,000 a year, and the most successful economics make over $130,000 per year.
Getting Your Economics Degree Online
Nearly any economics degree you hope to acquire can be obtained online. Students can obtain an Associate of Arts in Economics in two years or less through a distance learning program. A Bachelor of Science and even a Master of Science in Economics can also be earned online, often in less time than it takes to earn these degrees at a traditional college or university. If you are a continuing education student looking for economics options, there are a number of top accredited online universities that can meet your needs.
Getting Your Degree Offline
Many students who are attending an undergraduate institution directly out of high school choose economics as their major. Economics courses can provide new students with a great foundation for careers in business and finance. In the best-case scenario, these careers can be extremely lucrative, but even those just starting in the work force with an economics degree can enjoy a healthy income. Students should look for those universities with reputable business colleges, as graduating from a top business school with an economics degree can make a student very appealing to graduate institutions and big corporations. Students should take advantage of their time on campus to get to know economics professors and find out all the places their degree in economics can take them.
Economics Degree FAQs
What Kind of Degrees Are Available in Economics?
There are four different types of degree programs available within the economics field -- associate's, bachelor's, master's and doctorate. As you progress through each degree phase, you will continue to learn more about business and economics.
Some degree programs offer the student the ability to choose a particular area of study in economics, like micro economics or macro economics. Individuals who obtain their degree in economics are highly sought by today's companies looking for properly trained employees.
What Topics Are Covered in an Online Economic Degree Program?
In most cases, the learning institution providing the program determines the level and focus of the economic degree program. However, some common topics that are touched upon in nearly all online economic degree programs include the following:
- Economic Theory
- Micro Economics and/or Macro Economics
- Risk Analysis
- Capital Investments
- Banking Systems
Is There Any Difference between an Online Economic Degree Program and One Held on Campus?
In many respects, the only differences between these two education opportunities are how and where the course of study occurs. Online programs offer greater flexibility, the ability to learn in your own time and in the comfort of your own home. The coursework itself is nearly identical, as are the requirements for successfully obtaining your degree. Online economics degree programs are ideal for those who wish to focus on academic goals and full-time professional looking to either change careers or advance in a current job.
What Can I Do with an Economics Degree?
The education sector, including higher-learning, is one of the most common areas of employment for someone with an economics degree. These individuals are commonly sought after for teacher or instructor positions.
Additionally, many industries look for applicants who have successfully completed an economics degree program, including the manufacturing, service and information technology industries. Employers look highly upon a candidate with a degree in economics, as it illustrates an understanding of various important factors within the business cycle.
What Is the Average Salary for Someone With a Degree in Economics?
Salary levels vary in this sector as they can be affected by experience, job performance, responsibility and other factors. However, the average income for an individual with a bachelor's degree is between $30,000 and $35,000 annually. Individuals with a master's degree in economics average around $55,000 per year. Higher income is available for individuals who successfully complete a doctorate program in economics.
Economics Student Guide
Economics is the study of how goods and services are produced, distributed and consumed. Economists learn how the scarcity or abundance of resources in the market affects the buying and selling patterns of individuals and groups. Economics is split into a number of subdividsions, including macroeconomics, microeconomics and urban economics.
Some of the most important books in the field of economics include ìThe Wealth of Nationsî by Adam Smith, ìThe End of Poverty: Economic Possibilities for Our Timeî by Jeffery Sachs, ìPrinciples of Economicsî by Carl Menger and ìGeneral Theory of Employment, Interest and Moneyî by John Maynard Keynes. The other economics books you may require will be dependent on the branch of economics you are studying and the schoolís curriculum. These books will be available at the schoolís library, through the school library website or may be purchased elsewhere online.
Economics Articles And Databases
You will probably need to consult many economics articles during your research as a student of economics. Many university libraries have online databases that provide information about important economics articles. Some of these include: The University of Virginia Library Lib.virginia.edu/subjects/economics/), The University of Chicago Library Business and Economics Databases (L ib.uchicago.edu/e/busecon/db/) and the Thomas J. Long Business & Economics Library (Lib.berkeley.edu/BUSI/electres.html).
Online Economics Journals
Many of the articles you use for your economics research will come from economic journals. Fortunately, you can access a great many economics journals online, including Agricultural Economics (blackwellpublishing.com/journal.asp?ref=0169-5150&site=1), The American Economic Review (aeaweb.org/aer/), Applied Economics (tandf.co.uk/journals/titles/00036846.asp) and the Journal of Socio-Economics (Elsevier.com/wps/find/journaldescription.cws_home/620175/description#description).
Other Economics Research Tools
One of your leading resources for economics information and research will be the website of the National Bureau of Economic Research (NBER) at Nber.org. Nber.org highlights all the most recent working papers, gives links to new and upcoming books about economics, offers regular bulletins and has a wealth of data for you to peruse and analyze.