A master's in economics is not solely for the straight-up economist. Mathematics, research and analytical skills are finding renewed importance in the business world. Consider the human resources director whose organization’s overnight success requires smart, fast "talent harvesting" and workforce planning. Consider the school administrator responsible for understanding how a declining birthrate will impact long-term financial projections.
More and more, corporate chiefs are asking, "What would an economist do?"
Use your MS in Applied Economics to excel as a professional economist or related analytical positions in public, private and governmental sectors. Your advanced skills will position you as a stand-out strategic asset to any organization.
MS Applied Economics by the Numbers
Economists have a role in almost every type of organization. Traditional paths within the private sector include: banking, real estate, marketing, data management, budgeting, sales and academia. Government economists can be found working in: agriculture, business, finance, labor, transportation, utilities, urban economics and international trade. At the federal level, you qualify to work within such agencies as the Bureau of Labor Statistics, Fannie Mae, the Department of Commerce, the Department of Transportation and the Federal Deposit Insurance Corporation. You may also go in the direction of a nonprofit, international assistance or think tank. The list of opportunities goes on and on.
Projected national job growth in this field is anywhere from 6% to 29%, depending on which career track you pursue. And the average salary of an economist in 2012, according the Bureau of Labor and Statistics, was $91,860 a year - those with master’s degrees or PhDs garnering somewhat more.