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Applied Economics

Types of Degrees Applied Economics Majors Are Earning

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

Award Level	Graduates
Bachelor’s Degree	221
Master’s Degree	137
Doctor’s Degree	10

What Applied Economics Majors Need to Know

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

Knowledge Areas

This major prepares you for careers needing Applied Economics emphasizes the following knowledge areas:

• English Language — Importance 4.2 / 5; level 4.9 / 7.
• Mathematics — Importance 3.8 / 5; level 4.7 / 7.
• Administration and Management — Importance 3.4 / 5; level 4.1 / 7.
• Education and Training — Importance 3.3 / 5; level 4.3 / 7.
• Computers and Electronics — Importance 3.3 / 5; level 4.0 / 7.

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

Skills

Skills developed in a Applied Economics program reflects the day-to-day work of related occupations:

• Reading Comprehension — Importance 4.0 / 5; level 4.4 / 7.
• Active Listening — Importance 3.9 / 5; level 4.1 / 7.
• Writing — Importance 3.9 / 5; level 4.1 / 7.
• Speaking — Importance 3.9 / 5; level 4.1 / 7.
• Critical Thinking — Importance 3.9 / 5; level 4.1 / 7.

Abilities

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

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

Common Job Activities

Day-to-day, Applied Economics graduates report doing:

Activity	Frequency / Importance
Getting Information	4.6 / 7
Working with Computers	4.4 / 7
Analyzing Data or Information	4.3 / 7
Making Decisions and Solving Problems	4.2 / 7
Processing Information	4.2 / 7
Updating and Using Relevant Knowledge	4.2 / 7
Interpreting the Meaning of Information for Others	4.2 / 7
Identifying Objects, Actions, and Events	4.1 / 7
Organizing, Planning, and Prioritizing Work	4.0 / 7
Communicating with Supervisors, Peers, or Subordinates	4.0 / 7

Technology Skills Used on the Job

Most frequently-cited tools used by Applied Economics professionals:

Tool / Software	Category	In-Demand
Microsoft Office software	Office suite software	✓
Microsoft PowerPoint	Presentation software	✓
Microsoft Word	Word processing software	✓
Microsoft Excel	Spreadsheet 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	—
Microsoft Project	Project management software	—
The MathWorks MATLAB	Analytical or scientific software	—
R	Object or component oriented development software	✓

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

Sample Job Titles

Real job postings for Applied Economics graduates include:

• Labor Economics Professor
• University Faculty Member
• College Professor
• Finance Professor
• Agricultural Economics Professor
• Adjunct Professor
• Adjunct Economics Instructor
• Econometrics Professor
• Accounting Lecturer
• Teacher
• Economics Adjunct Instructor
• Economics Faculty Member
• Adjunct Economics Professor
• Economics Lecturer
• Industrial Economics Professor

Education Typically Required

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

Education Level	Share of Workers
Bachelor’s degree	41.1%
Doctoral degree	23.7%
Master’s degree	17.2%
Associate’s degree (or other 2-year)	4.9%
High school diploma or equivalent	2.9%
Post-master’s certificate	2.9%
Some college courses	2.8%
Postsecondary certificate	2.2%
Post-baccalaureate certificate	2.1%
Post-doctoral training	0.1%
First professional degree	0.1%

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

Who Is Earning a Degree in Applied Economics?

Gender Distribution

This field skews predominantly male, with men earning 60.1% of Applied Economics degrees.

Gender	Graduates	Share
Women	147	39.9%
Men	221	60.1%

Racial-Ethnic Diversity

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

Race / Ethnicity	Graduates	Share
White	187	50.8%
Asian	29	7.9%
Hispanic or Latino	26	7.1%
Black or African American	17	4.6%
Two or More Races	7	1.9%
Race Unknown	5	1.4%
International Students	97	26.4%

^{See minority definition below.}

How Much Do Applied Economics Graduates Earn?

Federal data tracks median earnings of Applied 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 Applied Economics Programs

Online study is tracked by IPEDS for Applied 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
Master’s	2	1

^{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 Applied Economics Worth It?

Looking purely at the federal earnings tracker, Applied 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
Economics	45.06
Development Economics and International Development	45.0604
Econometrics and Quantitative Economics	45.0603
Economics, General	45.0601
Economics, Other	45.0699
International Economics	45.0605
Political Economy	45.1004
Applied/Public Sociology	45.1102

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.