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Economics

Types of Degrees Economics Majors Are Earning

Those studying Economics have the option of earning degrees at several award levels.

Award Level	Graduates
Certificate	1
Associate’s Degree	4,406
Bachelor’s Degree	34,393
Master’s Degree	5,419
Doctor’s Degree	1,409

What Economics Majors Need to Know

Studies in Economics build a specific mix of knowledge, skills, and abilities — derived from O*NET surveys of workers in occupations that Economics graduates commonly enter.

Knowledge Areas

Coursework in Economics emphasizes the following knowledge areas:

• English Language — Importance 4.1 / 5; level 4.8 / 7.
• Mathematics — Importance 3.7 / 5; level 4.6 / 7.
• Education and Training — Importance 3.5 / 5; level 4.6 / 7.
• Administration and Management — Importance 3.3 / 5; level 4.0 / 7.
• Computers and Electronics — Importance 3.3 / 5; level 3.9 / 7.

^{Importance is rated 1–5; level is 1–7. Source: ONET Online — weighted across related occupations.*}

Skills

Skills built by a Economics program reflects the day-to-day work of related occupations:

• Reading Comprehension — Importance 4.0 / 5; level 4.3 / 7.
• Speaking — Importance 4.0 / 5; level 4.1 / 7.
• Active Listening — Importance 3.9 / 5; level 4.1 / 7.
• Critical Thinking — Importance 3.9 / 5; level 4.1 / 7.
• Writing — Importance 3.9 / 5; level 4.1 / 7.

Abilities

Innate abilities most relevant to Economics careers — again drawn from O*NET surveys of related occupations:

• Oral Expression — Importance 4.1 / 5; level 4.5 / 7.
• Written Comprehension — Importance 4.0 / 5; level 4.5 / 7.
• Oral Comprehension — Importance 4.0 / 5; level 4.5 / 7.
• Written Expression — Importance 4.0 / 5; level 4.4 / 7.
• Deductive Reasoning — Importance 3.9 / 5; level 4.2 / 7.

Common Job Activities

Day-to-day, Economics graduates report doing:

Activity	Frequency / Importance
Getting Information	4.6 / 7
Working with Computers	4.4 / 7
Analyzing Data or Information	4.2 / 7
Updating and Using Relevant Knowledge	4.2 / 7
Making Decisions and Solving Problems	4.2 / 7
Identifying Objects, Actions, and Events	4.1 / 7
Processing Information	4.1 / 7
Interpreting the Meaning of Information for Others	4.1 / 7
Communicating with Supervisors, Peers, or Subordinates	4.0 / 7
Organizing, Planning, and Prioritizing Work	4.0 / 7

Technology Skills Used on the Job

Most frequently-cited tools used by Economics professionals:

Tool / Software	Category	In-Demand
Microsoft Office software	Office suite software	✓
Microsoft Excel	Spreadsheet software	✓
Microsoft PowerPoint	Presentation software	✓
Microsoft Word	Word processing software	✓
Microsoft Outlook	Electronic mail software	✓
Microsoft Access	Data base user interface and query software	✓
Web browser software	Internet browser software	—
StataCorp Stata	Analytical or scientific software	✓
Word processing software	Word processing software	—
Python	Object or component oriented development software	✓
The MathWorks MATLAB	Analytical or scientific software	✓
Microsoft Project	Project management software	—

^{Source: ONET Online technology skills, weighted across related occupations.*}

Sample Job Titles

Real job postings for Economics graduates include:

• Teacher
• Professor
• Economics Lecturer
• Economics Assistant Professor
• Economics Professor
• Associate Professor
• Faculty Member
• Accounting Lecturer
• Lecturer
• Adjunct Economics Instructor
• Labor Economics Teacher
• Economic Adjunct Instructor
• Economics Instructor
• Economics Faculty Member
• Transportation Economics Teacher

Education Typically Required

Across the occupations open to Economics graduates, the typical level of education actually held by current workers is distributed as:

Education Level	Share of Workers
Bachelor’s degree	39.8%
Doctoral degree	28.2%
Master’s degree	13.5%
Associate’s degree (or other 2-year)	4.9%
Post-master’s certificate	3.6%
High school diploma or equivalent	3.2%
Some college courses	2.2%
Postsecondary certificate	2.1%
Post-baccalaureate certificate	2.1%
Post-doctoral training	0.3%
First professional degree	0.1%

^{Source: ONET Online education / training / experience requirements.*}

Who Is Earning a Degree in Economics?

Gender Distribution

This field skews predominantly male, with men earning 63.4% of Economics degrees.

Gender	Graduates	Share
Women	16,682	36.6%
Men	28,946	63.4%

Racial-Ethnic Diversity

At the national level, the racial-ethnic distribution of Economics graduates is as follows:

Race / Ethnicity	Graduates	Share
White	17,633	38.6%
Asian	6,304	13.8%
Hispanic or Latino	5,722	12.5%
Black or African American	1,720	3.8%
American Indian / Alaska Native	57	0.1%
Native Hawaiian / Pacific Islander	53	0.1%
Two or More Races	1,756	3.8%
Race Unknown	1,560	3.4%
International Students	10,823	23.7%

^{See minority definition below.}

How Much Do Economics Graduates Earn?

College Scorecard reports median earnings of Economics graduates 1, 4, and 5 years after completion. These numbers tend to grow steadily as graduates gain experience and move into mid-career roles.

Years Out	Median Earnings
1 year	$56,270
4 years	$74,609
5 years	$87,950

By year 5 out, median earnings rise to $87,950 — roughly 56% above the 1-year mark.

^{Source: U.S. Department of Education College Scorecard, field-of-study earnings tracker.}

Online Economics Programs

Distance learning are documented by IPEDS for Economics. The table below shows how many graduates earned at least some of their coursework online (Distance-Ed Available) versus completing the entire program online (Distance-Ed Only).

Award Level	Distance-Ed Available	Distance-Ed Only
Associate’s	35	11
Bachelor’s	35	33
Master’s	18	22
Doctoral (Research)	2	7

^{Distance-Ed Only = degrees completed entirely online; Distance-Ed Available = degrees including at least some online coursework. Source: IPEDS Completions by Distance Education status.}

Is a Degree in Economics Worth It?

On the earnings side, the federal earnings tracker, Economics graduates earn a median of $74,609 four years after completion — roughly 96% above the national median for workers with only a high school diploma (~$38,000).

^{ROI estimate compares the program’s 4-yr median earnings against the 2023 BLS CPS median earnings for high-school-only workers. Source: U.S. Department of Education College Scorecard + BLS Current Population Survey.}

Related Programs

You may also be interested in these closely related fields of study:

Program	CIP Code
Social Sciences	45
Anthropology	45.02
Archeology	45.03
Criminology	45.04
Demography	45.05
Geography and Anthropology	45.15
Geography and Cartography	45.07
International Relations and National Security Studies	45.09
Political Science and Government	45.10
Rural Sociology	45.14
Social Sciences, General	45.01
Social Sciences, Other	45.99

References

The racial-ethnic minorities count is calculated by taking the total number of students and subtracting white students and international students. This number is then divided by the total number of students to obtain the racial-ethnic minorities percentage.

• College Factual
• National Center for Education Statistics (IPEDS)
• O*NET Online
• U.S. Bureau of Labor Statistics
• U.S. Department of Education College Scorecard

More about our data sources and methodologies.