Managerial Economics

Types of Degrees Managerial Economics Majors Are Getting

The following table lists how many business/managerial economics graduations there were in 2020-2021 for each degree level.

Education Level	Number of Grads
Bachelor’s Degree	5,360
Master’s Degree	105
Associate Degree	69
Undergraduate Certificate	58
Doctor’s Degree	38
Graduate Certificate	19
Basic Certificate	18

What Managerial Economics Majors Need to Know

People with careers related to managerial economics 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 Managerial Economics Majors

Managerial Economics majors often go into careers in which the following knowledge areas are important:

• Mathematics - Knowledge of arithmetic, algebra, geometry, calculus, statistics, and their applications.
• English Language - Knowledge of the structure and content of the English language including the meaning and spelling of words, rules of composition, and grammar.
• Economics and Accounting - Knowledge of economic and accounting principles and practices, the financial markets, banking and the analysis and reporting of financial data.
• 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.
• Computers and Electronics - Knowledge of circuit boards, processors, chips, electronic equipment, and computer hardware and software, including applications and programming.

Skills for Managerial Economics Majors

The following list of skills has been highlighted as some of the most essential for careers related to managerial economics:

• 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.
• Writing - Communicating effectively in writing as appropriate for the needs of the audience.
• 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.
• Speaking - Talking to others to convey information effectively.

Abilities for Managerial Economics Majors

A major in managerial economics will prepare for your careers in which the following abilities are important:

• Written Comprehension - The ability to read and understand information and ideas presented in writing.
• Written Expression - The ability to communicate information and ideas in writing so others will understand.
• Oral Expression - The ability to communicate information and ideas in speaking so others will understand.
• Inductive Reasoning - The ability to combine pieces of information to form general rules or conclusions (includes finding a relationship among seemingly unrelated events).
• Deductive Reasoning - The ability to apply general rules to specific problems to produce answers that make sense.

What Can You Do With a Managerial Economics Major?

Below is a list of occupations associated with managerial economics:

Job Title	Job Growth Rate	Median Salary
Economics Professors	10.9%	$101,480
Economists	6.1%	$104,340
Environmental Economists	6.1%	$104,340

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

This is one of the most frequently chosen business majors. It is the 13th most popular in the country with 5,360 students graduating with a bachelor’s in managerial economics in 2021. This major tends to be male dominated. About 67% of recent graduates are men.

Racial-Ethnic Diversity

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

Race/Ethnicity	Number of Grads
Asian	556
Black or African American	278
Hispanic or Latino	676
White	2,870
International Students	673
Other Races/Ethnicities	307

Geographic Diversity

Students from other countries are interested in Managerial Economics, too. About 12.6% of those with this major are international students. The most popular countries for students from outside the country are:

• China
• South Korea
• India
• Hong Kong
• Vietnam

How Much Do Managerial Economics Majors Make?

Bachelor’s Degree Starting Salary

Data from the U.S. Department of Education shows that business/managerial economics students who graduated in 2017-2019 with a bachelor’s degree made a median starting salary of $45,936 per year. During this timeframe, most salaries fell between $40,554 (25th percentile) and $50,776 (75th percentile).

One thing to note here is that not all of these people may be working in careers related to managerial economics.

Salaries According to BLS

Managerial Economics majors often go into careers where salaries can range from $63,240 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.

Amount of Education Required for Careers Related to Managerial Economics

Some careers associated with managerial economics require an advanced degree while some may not even require a bachelor’s. Whatever the case may be, pursuing more education usually means that more career options will be available to you.

How much schooling do you really need to compete in today’s job market? People currently working in careers related to managerial economics have obtained the following education levels.

Education Level	Percentage of Workers
Bachelor’s Degree	13.6%
Post-Baccalaureate Certificate - awarded for completion of an organized program of study; designed for people who have completed a Baccalaureate degree but do not meet the requirements of academic degrees carrying the title of Master.	1.0%
Master’s Degree	26.1%
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.	5.5%
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.	1.0%
Doctoral Degree	52.3%
Post-Doctoral Training	2.0%

Online Managerial Economics Programs

In the 2020-2021 academic year, 264 schools offered some type of business/managerial economics 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)	0	0
Certificate (1-2 years)	3	0
Certificate (2-4 Years)	0	0
Associate’s Degree	2	0
Bachelor’s Degree	6	1
Post-Baccalaureate	0	0
Master’s Degree	35	0
Post-Master’s	2	0
Doctor’s Degree (Research)	15	0
Doctor’s Degree (Professional Practice)	0	0
Doctor’s Degree (Other)	0	0

Is a Degree in Managerial Economics Worth It?

The median salary for a managerial economics 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!

Majors Related to Managerial Economics

You may also be interested in one of the following majors related to managerial economics.

Major	Number of Grads
Business Administration & Management	416,590
Accounting	99,265
Finance & Financial Management	57,778
General Business/Commerce	56,042
Marketing	52,916
Management Sciences & Quantitative Methods	43,382
Human Resource Management	28,787
Business Support & Assistant Services	19,119
Hospitality Management	17,689
Management Information Systems	13,680
Entrepreneurial Studies	11,319
International Business	9,101
Real Estate	6,547
General Sales & Marketing	5,923
Specialized Sales, Merchandising & Marketing	5,191
Other Business, Management & Marketing	4,822
Construction Management	3,846
Insurance	1,809
Taxation	1,547
Business/Corporate Communications	1,029
Telecommunications Management	55

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.

• College Factual
• College Scorecard
• National Center for Education Statistics
• O*NET Online
• U.S. Bureau of Labor Statistics
• Usual Weekly Earnings of Wage and Salary Workers First Quarter 2020

More about our data sources and methodologies.