Masters in Economics

What is Economics

The Master of Economics is a postgraduate master's degree in economics (also MS in Economics, MA in Economics, MCom in Economics) comprising training in economic theory, econometrics and / or applied economics. Economics is the science that studies the production, distribution, and consumption of goods and services. Macroeconomics analyzes the entire economy and factors and public policies that affect it. On the other hand, microeconomics analyzes the basic elements of the economy, for example individual agents and markets.

Requirements to Study Economics

Business schools require you to give the GMAT which forms the most important part of your application. Few universities also accept GRE scores in place of GMAT scores. They also require a minimum 2-3 years of work experience (depending on the program you intend to join). IELTS or TOEFL is compulsory for acquiring student visa and as a proof of English proficiency.

Core Subjects in Economics

Students get to know the fundamental concepts related to economics and their application in the real world. Various subjects under economics include:

  • Microeconomic Theory
  • Macroeconomic Theory
  • Econometrics
  • Mathematics
  • Statistics
  • History of economic theory
  • Applied economics

Specialisations in Economics

Specializations include:

  • Development economics
  • Organizational behaviour
  • Labor economics
  • Science economics
  • Urban economics
  • Information economics

Cost of Studying Economics

Although the fees vary from university to university, the average tuition cost for masters in economics in the US are $45,000/year. Average living costs vary upto $8900/year. Tuition fees are around C$35000 in Canada. In Australia, average tuition costs are A$38000 / year and the average living costs are A$8,500/year.

Job Prospects after Masters in Economics

Top Universities for Economics

Universities that Average Profiles can target