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Development Economics Major

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Development Economics

345 Bachelor's Degrees Annually
264 Master's Degrees Annually
#57 in Popularity
$116,020 Median Salary

Types of Degrees Development Economics Majors Are Getting

The following table lists how many development economics and international development graduations there were in 2018-2019 for each degree level.

Education Level Number of Grads
Bachelor’s Degree 345
Master’s Degree 264
Doctor’s Degree 17
Graduate Certificate 2

What Development Economics Majors Need to Know

People with careers related to development economics and international development were asked what knowledge areas, skills, and abilities were important for their jobs. They weighted these areas on a scale of 1 to 5 with 5 being the highest.

Knowledge Areas for Development Economics and International Development Majors

According to O*NET survey takers, a major in development economics and international development should prepare you for careers in which you will need to be knowledgeable in the following areas:

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  • English Language - Knowledge of the structure and content of the English language including the meaning and spelling of words, rules of composition, and grammar.
  • Mathematics - Knowledge of arithmetic, algebra, geometry, calculus, statistics, and their applications.
  • Economics and Accounting - Knowledge of economic and accounting principles and practices, the financial markets, banking and the analysis and reporting of financial data.
  • Law and Government - Knowledge of laws, legal codes, court procedures, precedents, government regulations, executive orders, agency rules, and the democratic political process.
  • Education and Training - Knowledge of principles and methods for curriculum and training design, teaching and instruction for individuals and groups, and the measurement of training effects.

Skills for Development Economics and International Development Majors

development economics and international development majors are found most commonly in careers in which the following skills are important:

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  • Reading Comprehension - Understanding written sentences and paragraphs in work related documents.
  • Critical Thinking - Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems.
  • Active Listening - Giving full attention to what other people are saying, taking time to understand the points being made, asking questions as appropriate, and not interrupting at inappropriate times.
  • Writing - Communicating effectively in writing as appropriate for the needs of the audience.
  • Speaking - Talking to others to convey information effectively.

Abilities for Development Economics and International Development Majors

Some of the most crucial abilities to master while a development economics and international development student include the following:

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  • Written Comprehension - The ability to read and understand information and ideas presented in writing.
  • Oral Expression - The ability to communicate information and ideas in speaking so others will understand.
  • Written Expression - The ability to communicate information and ideas in writing so others will understand.
  • Deductive Reasoning - The ability to apply general rules to specific problems to produce answers that make sense.
  • Oral Comprehension - The ability to listen to and understand information and ideas presented through spoken words and sentences.

What Can You Do With a Development Economics Major?

People with a development economics and international development degree often go into the following careers:

Job Title Job Growth Rate Median Salary
Compliance Managers 8.0% $107,480
Economics Professors 10.9% $101,480
Economists 6.1% $104,340
Environmental Economists 6.1% $104,340
Investment Fund Managers 8.0% $107,480
Regulatory Affairs Managers 8.0% $107,480

Who Is Getting a Bachelor’s Degree in Development Economics?

345 Bachelor's Degrees Annually
76% Percent Women
34% Percent Racial-Ethnic Minorities*
The major attracts more women than men. About 76% of the recent graduates in this field are female.

Racial-Ethnic Diversity

At the countrywide level, the racial-ethnic distribution of development economics and international development majors is as follows:

Racial-Ethnic Diversity of Development Economics and International Development Students with Bachelor's Degrees
Race/Ethnicity Number of Grads
Asian 28
Black or African American 19
Hispanic or Latino 51
White 188
International Students 31
Other Races/Ethnicities 28

Geographic Diversity

Americans aren’t the only ones with an interest in Development Economics and International Development. About 9.0% of those with this major are international students.

How Much Do Development Economics Majors Make?

Salaries According to BLS

Development Economics and International Development majors often go into careers where salaries can range from $115,590 to $117,180 (25th to 75th percentile). This range includes all degree levels, so you may expect those with a more advanced degree to make more while those with less advanced degrees will typically make less.

To put that into context, according to BLS data from the first quarter of 2020, the typical high school graduate makes between $30,000 and $57,900 a year (25th through 75th percentile). The average person with a bachelor’s degree (any field) makes between $45,600 and $99,000. Advanced degree holders make the most with salaries between $55,600 and $125,400.

Median Salary for a Development Economics Major  ( 115590 to 117180 )
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250K
Median Salary for a High School Graduate  ( 30000 to 57900 )
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250K
Median Salary for a Bachelor's Degree Holder  ( 45600 to 99000 )
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250K
Median Salary for an Advanced Degree Holder  ( 55600 to 125400 )
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250K

Some careers associated with development economics and international development require an advanced degree while some may not even require a bachelor’s. In general, the more advanced your degree the more career options will open up to you. However, there is significant time and money that needs to be invested into your education so weigh the pros and cons.

Find out what the typical degree level is for development economics and international development careers below.

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Education Level Percentage of Workers
High School Diploma - or the equivalent (for example, GED) 1.4%
Post-Secondary Certificate - awarded for training completed after high school (for example, in agriculture or natural resources, computer services, personal or culinary services, engineering technologies, healthcare, construction trades, mechanic and repair technologies, or precision production) 1.1%
Some College Courses 0.2%
Associate’s Degree (or other 2-year degree) 1.5%
Bachelor’s Degree 30.6%
Master’s Degree 26.2%
Post-Master’s Certificate - awarded for completion of an organized program of study; designed for people who have completed a Master’s degree but do not meet the requirements of academic degrees at the doctoral level. 3.9%
First Professional Degree - awarded for completion of a program that: requires at least 2 years of college work before entrance into the program, includes a total of at least 6 academic years of work to complete, and provides all remaining academic requirements to begin practice in a profession. 1.7%
Doctoral Degree 33.2%
Post-Doctoral Training 0.7%

Online Development Economics Programs

In the 2018-2019 academic year, 59 schools offered some type of development economics and international development program. The following table lists the number of programs by degree level, along with how many schools offered online courses in the field.

Degree Level Colleges Offering Programs Colleges Offering Online Classes
Certificate (Less Than 1 Year) 2 0
Certificate (1-2 years) 0 0
Certificate (2-4 Years) 0 0
Associate’s Degree 0 0
Bachelor’s Degree 6 0
Post-Baccalaureate 2 0
Master’s Degree 24 4
Post-Master’s 1 0
Doctor’s Degree (Research) 7 0
Doctor’s Degree (Professional Practice) 0 0
Doctor’s Degree (Other) 0 0

Is a Degree in Development Economics Worth It?

The median salary for a development economics and international development grad is $116,020 per year. This is based on the weighted average of the most common careers associated with the major.

This is 191% more than the average salary for an individual holding a high school degree. This adds up to a gain of about $1,522,400 after 20 years!

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You may also be interested in one of the following majors related to development economics and international development.

Major Number of Grads
General Economics 34,159
Econometrics & Quantitative Economics 11,931
Applied Economics 727
Other Economics 488
International Economics 364

References

*The racial-ethnic minorities count is calculated by taking the total number of students and subtracting white students, international students, and students whose race/ethnicity was unknown. This number is then divided by the total number of students at the school to obtain the racial-ethnic minorities percentage.

More about our data sources and methodologies.

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