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Master's Degree in Economics

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Master’s Degrees in Economics

4,493 Yearly Graduations
$59,200 Median Salary
$42,269 Median Debt
There are 229 schools in the United States where you can get your master's degree in economics. In recent years, the majority of the students getting degrees in this area were male, and 14 were from an underrepresented racial-ethnic group. Also, 55.7% of economics graduates were international students.

Education Levels of Economics Majors

During the 2019-2020 academic year, 4,493 students earned their master's degree in economics. This earns it the #7 spot on the list of the most popular master's degree programs in the nation.

The following table shows the number of diplomas awarded in economics at each degree level.

Education Level Number of Grads
Bachelor’s Degree 40,046
Master’s Degree 4,493
Associate Degree 2,948
Doctor’s Degree 1,219
Graduate Certificate 102
Basic Certificate 14
Undergraduate Certificate 9

Earnings of Economics Majors With Master’s Degrees

The median salary for graduates holding a master's degree in economics is $59,200. This number may vary for a lot of reasons. For instance, you may decide to move to a location where people with your degree are rare and make more money. A better approximation of salary is to look at the typical range of salaries. In this case the low is $50,875 and the high is $65,075.


Student Debt

The median student debt for graduates holding a master's degree in economics is $42,269. The length of time it takes you to graduate and what college you attend can affect this number quite a bit. The chart below shows the range of accumulated debt loads. On the high side of the range, $57,499 is the debt load, and the debt load on the low side is $34,261.


The median monthly payment of a economics graduate with a 10-year repayment plan is $493.

Student Diversity

More men than women pursue master's degrees in economics. About 58.8% of graduates in this field are male.

Gender Number of Grads
Men 2,644
Women 1,849

The racial-ethnic distribution of economics master’s degree students is as follows:

Race/Ethnicity Number of Grads
Asian 227
Black or African American 118
Hispanic or Latino 207
White 1,264
International Students 2,504
Other Races/Ethnicities 173

There are 229 colleges that offer a master’s degree in economics. Learn more about the most popular 20 below:

Economics Focus Areas

Major Annual Degrees Awarded
Quantitative Economics 2,779
General Economics 1,132
Development Economics 239
Applied Economics 236
Other Economics 68


*The racial-ethnic minority student 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 percentage of racial-ethnic minorities.

More about our data sources and methodologies.

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