Master’s Degrees in Economics
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Education Levels of Economics Majors
In 2018-2019, 4,391 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 | 40,355 |
| Master’s Degree | 4,391 |
| Associate’s Degree | 2,228 |
| Doctor’s Degree | 1,225 |
| Graduate Certificate | 83 |
| Basic Certificate | 12 |
| Undergraduate Certificate | 3 |
Earnings of Economics Majors With Master’s Degrees
The median salary for graduates holding a master's degree in economics is $59,200. A lot of factors can contribute to this number, such as the location of your workplace and the availability of other perks and bonuses.
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 $34,260.
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 57.1% of graduates in this field are male.
| Gender | Number of Grads |
|---|---|
| Men | 2,509 |
| Women | 1,882 |
The racial-ethnic distribution of economics master’s degree students is as follows:
| Race/Ethnicity | Number of Grads |
|---|---|
| Asian | 194 |
| Black or African American | 139 |
| Hispanic or Latino | 170 |
| White | 1,186 |
| International Students | 2,520 |
| Other Races/Ethnicities | 182 |
Most Popular Economics Programs for Master’s Degrees
There are 229 colleges that offer a master’s degree in economics. Learn more about the most popular 20 below:
The most popular school in the United States for economics students seekinga master's degree is Johns Hopkins University. Roughly 27,000 attend the school each year. The average in-state tuition for full-time undergraduates is $55,350 per year, while in-state graduate students, on average, pay $55,350 per year.
For the 2018-2019 academic year, 243 master's degrees were handed out to economics majors at Johns Hopkins. Around 11% of these students were from an underrepresented racial-ethnic group, and 47% were women.
Brandeis University is the 2nd most popular school in the nation for students seeking a master's degree in economics. Roughly 5,800 attend the school each year. The average in-state tuition for full-time undergraduates is $55,340 per year, while in-state graduate students, on average, pay $51,940 per year.
For the 2018-2019 academic year, 199 master's degrees were handed out to economics majors at Brandeis. Of these students, 62% were women and 16% were members of underrepresented racial-ethnic groups.
The 3rd most popular school in the country for economics majors who are seeking their master's degree is Boston University. Roughly 33,700 attend the school each year. The average in-state tuition for full-time undergraduates is $54,720 per year, while in-state graduate students, on average, pay $54,720 per year.
For the 2018-2019 academic year, 144 master's degrees were handed out to economics majors at Boston U. About 46% of this group were women, and 8% were students from an underrepresented racial-ethnic group.
The 4th most popular school in the country for economics majors who are seeking their master's degree is Georgetown University. Each year, around 19,500 students seeking various degrees attend the university. The average in-state tuition for full-time undergraduates is $55,440 per year, while in-state graduate students, on average, pay $51,336 per year.
The economics program at Georgetown University awarded 138 master's degrees during the 2018-2019 school year. About 59% of this group were women, and 7% were students from an underrepresented racial-ethnic group.
University of Wisconsin - Madison comes in at #5 on our list of the most popular colleges offering master's degrees in economics. Each year, around 44,200 students seeking various degrees attend the university. The average in-state tuition for full-time undergraduates is $9,273 per year, while in-state graduate students, on average, pay $10,728 per year.
For the 2018-2019 academic year, 117 master's degrees were handed out to economics majors at UW - Madison. Around 5% of these students were from an underrepresented racial-ethnic group, and 37% were women.
Texas A&M University - College Station comes in at #6 on our list of the most popular colleges offering master's degrees in economics. Each year, around 68,700 students seeking various degrees attend the university. The average in-state tuition for full-time undergraduates is $7,941 per year, while in-state graduate students, on average, pay $6,677 per year.
For the 2018-2019 academic year, 110 master's degrees were handed out to economics majors at Texas A&M College Station. About 48% of this group were women, and 8% were students from an underrepresented racial-ethnic group.
The 6th most popular school in the country for economics majors who are seeking their master's degree is Columbia University in the City of New York. Roughly 31,400 attend the school each year. The average in-state tuition for full-time undergraduates is $57,763 per year, while in-state graduate students, on average, pay $47,600 per year.
During the 2018-2019 academic year, 110 people received their master's degree in economics from Columbia. About 47% of this group were women, and 4% were students from an underrepresented racial-ethnic group.
New York University is the 8th most popular school in the nation for students seeking a master's degree in economics. Roughly 52,800 attend the school each year. The average in-state tuition for full-time undergraduates is $50,684 per year, while in-state graduate students, on average, pay $33,408 per year.
During the 2018-2019 academic year, 102 people received their master's degree in economics from NYU. Of these students, 37% were women and 9% were members of underrepresented racial-ethnic groups.
University of Southern California is the 9th most popular school in the nation for students seeking a master's degree in economics. Each year, around 48,300 students seeking various degrees attend the university. The average in-state tuition for full-time undergraduates is $57,256 per year, while in-state graduate students, on average, pay $46,272 per year.
During the 2018-2019 academic year, 92 people received their master's degree in economics from USC. About 54% of this group were women, and 9% were students from an underrepresented racial-ethnic group.
Duke University comes in at #10 on our list of the most popular colleges offering master's degrees in economics. Roughly 16,600 attend the school each year. The average in-state tuition for full-time undergraduates is $55,880 per year, while in-state graduate students, on average, pay $55,680 per year.
During the 2018-2019 academic year, 80 people received their master's degree in economics from Duke. Of these students, 50% were women and 2% were members of underrepresented racial-ethnic groups.
University of Illinois at Urbana-Champaign is the 11th most popular school in the nation for students seeking a master's degree in economics. Each year, around 51,600 students seeking various degrees attend the university. The average in-state tuition for full-time undergraduates is $14,188 per year, while in-state graduate students, on average, pay $14,997 per year.
During the 2018-2019 academic year, 79 people received their master's degree in economics from UIUC.
University of California - Los Angeles is the 12th most popular school in the nation for students seeking a master's degree in economics. Each year, around 44,300 students seeking various degrees attend the university. The average in-state tuition for full-time undergraduates is $11,442 per year, while in-state graduate students, on average, pay $11,442 per year.
For the 2018-2019 academic year, 78 master's degrees were handed out to economics majors at UCLA. Of these students, 55% were women and 3% were members of underrepresented racial-ethnic groups.
Yale University is the 13th most popular school in the nation for students seeking a master's degree in economics. Roughly 13,600 attend the school each year. The average in-state tuition for full-time undergraduates is $55,500 per year, while in-state graduate students, on average, pay $43,300 per year.
During the 2018-2019 academic year, 75 people received their master's degree in economics from Yale. Of these students, 41% were women and 5% were members of underrepresented racial-ethnic groups.
The University of Texas at Austin comes in at #14 on our list of the most popular colleges offering master's degrees in economics. Roughly 51,000 attend the school each year. The average in-state tuition for full-time undergraduates is $10,824 per year, while in-state graduate students, on average, pay $11,998 per year.
The economics program at The University of Texas at Austin awarded 68 master's degrees during the 2018-2019 school year. About 40% of this group were women, and 12% were students from an underrepresented racial-ethnic group.
The 15th most popular school in the country for economics majors who are seeking their master's degree is Ohio University - Athens Campus. Each year, around 27,300 students seeking various degrees attend the university. The average in-state tuition for full-time undergraduates is $12,612 per year, while in-state graduate students, on average, pay $9,444 per year.
The economics program at Ohio University - Athens Campus awarded 65 master's degrees during the 2018-2019 school year. Of these students, 35% were women and 8% were members of underrepresented racial-ethnic groups.
University of Michigan - Ann Arbor comes in at #16 on our list of the most popular colleges offering master's degrees in economics. Roughly 48,000 attend the school each year. The average in-state tuition for full-time undergraduates is $16,212 per year, while in-state graduate students, on average, pay $23,890 per year.
During the 2018-2019 academic year, 63 people received their master's degree in economics from U-M. Around 8% of these students were from an underrepresented racial-ethnic group, and 43% were women.
The 17th most popular school in the country for economics majors who are seeking their master's degree is American University. Roughly 14,300 attend the school each year. The average in-state tuition for full-time undergraduates is $49,070 per year, while in-state graduate students, on average, pay $30,351 per year.
For the 2018-2019 academic year, 58 master's degrees were handed out to economics majors at The American University. Of these students, 57% were women and 16% were members of underrepresented racial-ethnic groups.
University of Houston is the 18th most popular school in the nation for students seeking a master's degree in economics. Each year, around 46,100 students seeking various degrees attend the university. The average in-state tuition for full-time undergraduates is $8,219 per year, while in-state graduate students, on average, pay $8,370 per year.
The economics program at University of Houston awarded 50 master's degrees during the 2018-2019 school year. About 42% of this group were women, and 14% were students from an underrepresented racial-ethnic group.
Northeastern University is the 19th most popular school in the nation for students seeking a master's degree in economics. Roughly 22,200 attend the school each year. The average in-state tuition for full-time undergraduates is $52,420 per year, while in-state graduate students, on average, pay $24,793 per year.
The economics program at Northeastern University awarded 49 master's degrees during the 2018-2019 school year.
The 19th most popular school in the country for economics majors who are seeking their master's degree is University of California - Santa Cruz. Each year, around 19,400 students seeking various degrees attend the university. The average in-state tuition for full-time undergraduates is $11,442 per year, while in-state graduate students, on average, pay $11,442 per year.
For the 2018-2019 academic year, 49 master's degrees were handed out to economics majors at UC Santa Cruz. Around 12% of these students were from an underrepresented racial-ethnic group, and 45% were women.
Economics Focus Areas
| Major | Annual Degrees Awarded |
|---|---|
| Quantitative Economics | 2,251 |
| General Economics | 1,426 |
| Applied Economics | 342 |
| Development Economics | 264 |
| Other Economics | 86 |
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References
*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.
- College Factual
- National Center for Education Statistics
- O*NET Online
- Bureau of Labor Statistics
- Image Credit: By pixabay under License
More about our data sources and methodologies.
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