The Top Economics MBA Online Programs

Online economics MBA schools strive to teach students how to analyze statistical and financial information and utilize it in making business decisions. This degree also provides a framework for corporate strategies that are applicable to business management. Students who pursue an online Master of Business Administration in Economics will have opportunities to learn the theories behind why people make financial decisions, how money moves through systems and what pressures individuals and businesses must balance to remain solvent.

While most colleges will teach similar economics classes, the schools with the highest online economics MBA rankings will also prepare students for careers in finance and business. Not only do the best economics MBA schools online offer excellent instruction in microeconomics, international trade, business law and marketing, they also provide internship opportunities and job placement services.

How can I tell if an online MBA economics degree is right for me?

Those involved in accredited online MBA economics programs should have an interest in statistics, financial accounting, international business and how these affect human behavior.

Some additional characteristics that are common in many online MBA economics students include:

• A capacity for analyzing data or information
• A propensity for evaluating information to determine compliance with standards
• A flair for organizing, planning, and prioritizing work
• An aptitude for getting information
• An inclination for processing information

How long does it take to earn an MBA online economics degree?

An economics MBA degree online takes approximately the same time to earn as any other MBA online. It normally takes two years of full-time schooling to complete. However, students are able to earn the degree in a more convenient manner at some institutions that offer part-time or accelerated programs.

What are the prerequisites and admission requirements for MBA economics schools online?

An undergraduate degree is generally required before students can enroll in online MBA economics programs. While having a bachelor’s degree in areas including finance and accounting, finance, business, and business administration may be ideal for those considering enrolling in a good MBA economics online program, it is generally not required.

Many online MBA in economics programs also base admission on the following criteria:

• References or Letters of Recommendation
• Work experience
• Personal interviews
• Academic transcripts

What courses will I take in economics MBA programs online?

Students who are enrolled in one of the best economics MBA online programs will have a clearly defined set of courses during their first year. Typically, there is an advanced math requirement of two semesters of calculus or a course in mathematical methods for economics majors. In addition, the online MBA programs in economics will require core classes in management, microeconomics, macroeconomics, accounting and marketing.

Economics MBA online courses become much more focused during the second half of the program. Higher-level statistical and financial analysis classes are required in addition to theoretical accounting courses. Electives are also required and include classes such as public finance, international economics, public policy, econometrics or demography. An MBA online economics degree culminates in a thesis paper, project or internship to complete a degree.

Often students enrolled in online economics MBA programs do an internship during the course of their education. Internships are valuable. Through them, students not only make important business contacts, but they also get a chance to apply what they are learning in their classes.

What are the best online MBA in economics books I should consider reading?

For students wanting to pursue economics MBA careers, some insightful books are:

1. The Wealth of Nations (Adam Smith) – An excellent book for those in economics MBA online programs, this book provides the initial framework for current economic ideology.

2. Nickel and Dimed: On (Not) Getting By in America (Barbara Ehrenreich) – A powerful and grisly look at how world economics affect the working class in America.

3. Choice and Consequences (Thomas C. Schelling) – This revolutionary book discusses how economic philosophy can be used to deconstruct world systems.

4. The Economics of Life: From Baseball to Affirmative Action to Immigration, How Real-World Issues Affect Our Everyday Life (Gary and Guity Becker) – In this book, the authors apply economic theory to social phenomena and personal decision making, usually with intriguing results.

5. The Worldly Philosophers (Robert Heilbroner) – An entertaining look into the minds of the world’s most influential economists for students in an online Master of Business Administration in Economics program.

What are my future job prospects if I pursue economics MBA jobs?

According to the U.S. Bureau of Labor Statistics, pursuing an online MBA in Economics can provide a number of high paying career paths. As of 2010, there were 15, 400 jobs for economists in the U.S. alone. The most lucrative careers include:

• Economist – $89, 450
• Budget Analyst – $68, 200
• Financial Analyst – $74, 350
• Operations Research Analyst – $70, 960

While jobs in the analysis trade are expected to grow at a average rate of 15% over the next 10 years, positions for economists are projected to decrease to 6% growth. Because a position with the top economics MBA salary is paid by the federal government, job growth in the field depends on federal financial stability. This means that the next 10 years will see a decrease in number of positions, although the BLS states that job opportunities will still be very good for those with a master’s degree in economics.

Employers often prefer students who have graduated from AACSB accredited economics MBA programs because accreditation by the Association to Advance Collegiate Schools of Business can serve as an indication that a business school provides a quality education.