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Managerial Economics

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Managerial Economics Major

Business/managerial economics is a major that typically falls into the Business, Management & Marketing category.

There are 2 programs available throughout the country that offer an associate’s degree in managerial economics, 251 that offer a bachelor’s degree, and 41 that offer a master’s degree. There are also at least 15 schools in the nation where you can get your doctorate degree in the field.

Who Is Getting a Managerial Economics Degree?

In 2017, roughly 6,200 business/managerial economics majors graduated with a bachelor’s degree. This makes it #67 in popularity of all the majors we track. This major tends to be male dominated. About 66.3% of recent graduates are men.

Racial Distribution

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

  • Asian: 14.7%
  • Black or African American: 4.1%
  • Hispanic or Latino: 10.7%
  • White: 52.5%
  • Non-Resident Alien: 12.5%
  • Other Races: 5.5%
Managerial Economics Majors Ethnic Diversity Statistics

Americans aren’t the only ones with an interest in managerial economics. About 12.5% of those graduating in 2017 were international students. The most popular countries sending managerial economics majors to the U.S. are China, South Korea and India.

What Will You Learn as a Managerial Economics Major?

An O*NET survey asked people with careers related to managerial economics to rate how important certain subject areas were to their job. The following are some of the results of that survey. Importance was rated on a scale of 1 to 5 with 5 being most important.

Knowledge Areas for Managerial Economics Majors

This major prepares you for careers in which these knowledge areas are important:

Important Knowledge Areas for Managerial Economics Majors

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:

Important Skills for Managerial Economics Majors

Abilities for Managerial Economics Majors

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

Important Abilities for managerial economics Majors

What Can You Do With a Managerial Economics Major?

Below is a list of occupations associated with managerial economics:

Careers Related to Managerial Economics
Job Title Job Growth Rate Median Salary

Economics Professors

10.9%

$101,480

Environmental Economists

6.1%

$104,340

Survey Researchers

2.1%

$57,700

Economists

6.1%

$104,340

Managerial Economics Major Salary

Managerial economics majors often go into careers where salaries can range from $63,000 to $117,000. 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, the typical high school graduate makes between $29,000 and $57,000 a year. The average person with a bachelor’s degree (any field) makes between $44,000 and $99,000. Advanced degree holders make the most with salaries between $55,000 and $120,000.

Average Salary for a Managerial Economics Major  ( 63000 to 117000 )
$0
$200k
Average Salary for High School Graduate  ( 29000 to 57000 )
$0
$200k
Average Salary with Bachelor's Degree  ( 44000 to 99000 )
$0
$200k
Average Salary with Advanced Degree  ( 55000 to 120000 )
$0
$200k

Your salary will be largely dependent on the career path you follow and what area of the country (or world) you work. Getting a graduate degree may open up more options with higher salary potential.

Amount of Education Required for Managerial Economics Major Jobs

Some careers associated with managerial economics may require an advanced degree, while others may not even require a bachelor’s in the field. In general, the more advanced your degree the more career options will open up to you. However, there is significant time and money that needs to be invested into your education so weigh the pros and cons.

Find out what the typical degree level is for managerial economics careers below.

Education Levels for Careers Associated With Managerial Economics
Level of Education Percentage of Workers

Less Than a High School Diploma

0%

High School Diploma or Equivalent

0%

Post-Secondary Certificate

0%

Some College Courses

0%

Associate's Degree or Equivalent

0%

Bachelor's Degree

13.6%

Post-Baccalaureate Certificate

1%

Master's Degree

26.1%

Post-Master's Certificate

5.5%

First Professional Degree

1%

Doctoral Degree

52.3%

Post-Doctoral Training

2%

Online Managerial Economics Programs

There are 251 colleges that offer a bachelor’s degree in business/managerial economics, with 9 of them offering at least some courses online.

Online learners must listen or watch video lectures, participate in group chats or forums, submit papers and assignments electronically, take tests, and meet deadlines.

Online learners benefit from being able to watch lectures remotely and complete coursework on their schedule, but they also take longer to graduate than average and are more likely to dropout.

Is a Managerial Economics Major Worth It?

The median salary for a managerial economics grad is $116,000 per year. This is based on the weighted average of the most common careers associated with the major.

This is 198% more than the average salary for an individual holding a high school degree. This adds up to a gain of about $1,542,400 after 20 years!

business/managerial economics salary compared to typical high school and college graduates over a 20 year period

References

Bureau of Labor Statistics
National Center for Education Statistics
O*NET Online
Image Credit: Bernard Ladenthin via License

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