Economists are often employed in industries
such as business, insurance, banking, academia and government. They
conduct research into, examine and project societal trends and practices
in the production, distribution and consumption of various resources.
Online programs exist that lead to a bachelor's degree and master's
degree in economics.
Online Bachelor's Degree in Economics Overview
Although some entire degree programs are available online, requiring only a high school diploma and a certain GPA for admission, many schools offer a degree-completion program instead. In those cases, students must have completed general education requirements as well as foundation courses - such as macroeconomics, microeconomics, calculus and statistics - prior to admission to the program.Covering topics that include finance, strategic planning and international trade, these programs teach students to collect and assess data and formulate theories from the results. Skills are developed that help students forecast national and international economic trends.
Program Information and Requirements
Depending on school procedures regarding prerequisites and transfer credits, it can take from 2-4 years to complete the program. Most programs are conducted entirely online. Students are often provided with a syllabus at the beginning of the program, allowing them to work at their own pace. Interaction with other students and faculty is maintained though discussion boards, forums and e-mail.Students need a computer equipped with Internet access and an up-to-date operating system, such as Windows or MacOS. Microsoft Office is usually required. DSL or another high-speed connection is generally recommended. Depending on how the course is conducted, a sound card and speakers may be necessary. A current version of a Web browser is also required.
List of Common Online Bachelor's-Level Economics Courses
Typically, a bachelor's degree program, either online or campus-based, calls for about 120 total semester hours for completion. Roughly one-third of those hours must be in general education subjects, such as mathematics, oral and written communication, behavioral and social sciences, science and humanities. The remaining hours are filled with core economics courses.Intermediate Economics Course
The areas of microeconomics and macroeconomics are more fully explored than in foundation courses. Focusing on the relationship of an individual firm with the national economy, topics include production costs, maximization of profits, labor markets, monetary and supply side policies, gross domestic product and the U.S. Federal Reserve System.Marketing Principles Course
This is usually a survey course dealing with distribution and pricing strategies, buyer and market behavior and various marketing concepts. Global competition is explored, along with branding, positioning and integrated market communications.Financial Accounting Course
Students are introduced to the accounting cycle and learn to create a financial statement. Fundamental principles and practices of accounting are explored as students learn how to use balance sheets, cash flow statements and income statements.Managerial Economics Course
By studying and analyzing the aspects of demand, capitalization, costs and strategies, students develop new decision-making skills. They learn how to bring about the maximization of long-term profits through the application of economics.Forecasting Course
Students are introduced to econometrics, which is a combination of economic theory and statistics. Through the use of serial correlation, model building, simulations and time series, students learn how to analyze primary and secondary data to assist in decision-making and forecasting.Online Master's Degree in Economics Overview
Although there are many online courses that lead to an MBA and deal with economic principles, those that lead to a master's degree in economics are considerably rarer. Typically, the program is an in-depth review of economic theories and practices learned on the undergraduate level. Students often use hands-on, practical application of analytical techniques for the collection of data and quantitative examination of factors affecting and determining financial and market activity. Students must hold a bachelor's degree from an accredited university and are required to submit GRE or GMAT scores to be considered for admittance.Program Information and Requirements
Usually this program consists of roughly 30 credits and will take a little over two years to complete. The program is available entirely online; however, in many cases classes meet 'live' online at set times, much like on-campus classes. This schedule allows students to participate in class discussions and communicate with instructors and fellow class members in real-time.Students are required to be familiar with basic computer operations, including Internet navigation, e-mail, file creation and downloading. An applicable Windows or Macintosh operating system is required, along with appropriate word processing software and a capable Internet browser. Students may be required to download software such as Adobe Flash Player, Adobe Acrobat Reader and PowerPoint. 'Live' classes will require hardware such as a Web camera, audio headset or microphone.
List of Common Online Master's-Level Economics Courses
Courses in this program are all geared toward refining and applying skills previously developed. Often, students have the option of following a thesis or non-thesis program. While thesis students complete an original project under faculty supervision, non-thesis students may have an independent study unit wherein they are not supervised but must present a formal report at the conclusion of the course.Econometric Methods Course
The theory and methods of applying statistics to economic problems is the focus of this course. Students apply the lessons and tenets to written assignments to gain practical experience.Empirical Economics Course
Using econometric methods and strategies, students explore economic and business forecasting. How to arrive at solutions for common economic problems is the main thrust of this type of course.Mathematics Course
Linear algebra and calculus are tools used in this course of economic analysis. Some of the areas investigated typically include model building, production functions, distribution, static and dynamic equilibrium models, programming and activity analysis.Advanced Macroeconomics Course
This online course sometimes concentrates on public policies dealing with unemployment and inflation. Students learn to utilize macroeconomic theories to analyze business cycles and income.Price Theory Course
Production and distribution, buyer demand and behavior, imperfect competition, equilibrium and welfare are among the topics covered in this course. Emphasis is placed on efficiency and operation of competing economic systems.Career Information for Graduates
According to the U.S. Bureau of Labor Statistics, although employment opportunities for economists were expected to increase from 2008-2018 by six percent, the rate of increase is much slower than the average for all occupations (www.bls.gov). As of August 2010, PayScale.com reported the average pay range for economists holding a Bachelor of Science to be $38,000-$76,038, while those with a Bachelor of Arts brought in $41,656-$74,038. Those holding a master's degree earned from $42,494-$76,283, while economists with a doctorate came in at $78,614-$112,946 on average.Continuing Education Information
Individuals holding a bachelor's degree generally find competition for employment to be quite stiff. While experience working in an economics-related position (such as stock or bond trader or loan officer) adds to the value of an individual's resume, those who continue their education and acquire a master's degree or higher generally have an easier time securing employment. Individuals who wish to go into teaching will find it necessary in many cases to earn at least a master's degree.Doctoral programs in economics are plentiful, and earning a Ph.D. can create additional opportunities for employment in research and academia. However, doctoral programs in economics are seldom offered through online learning.
Optional certifications that enhance an economist's employability are offered by numerous industry organizations. In general, the requirements include a short period of training and a qualifying examination. The American Academy of Financial Management offers the designations Chartered Economist (Ch.E.) and Certified Economic Policy Analyst (CEPA). The Certified Financial Analyst (CFA) credential is offered by the Association for Investment Management and Research, while the Certified Financial Planner Board of Standards offers the Certified Financial Planner (CFP) designation.
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