Master of Science in Economics and Finance

To earn an Master of Science in Economics and Finance degree, students typically need a bachelor's degree with some economics college credits. Within three years students may graduate and find several types of employment opportunities. Read more below. Schools offering Economics degrees can also be found in these popular choices.

How to Earn a Master of Science in Economics and Finance

Most colleges require a bachelor's degree in economics for the master's program, but some programs accept degrees with other focuses. The Master of Science in Economics and Finance will take students one to three years to complete, and may include some of the following classes:

Advanced Microeconomics

In graduate microeconomics courses, students dive further into microeconomic topics such as price determination. Students learn more about markets and their distortions, consumer purchasing power, tax effects, and how each of these affect the economy.

Macroeconomics

In macroeconomics courses, students focus on factors that determine expenditures and income. The course covers national topics which include monetary and fiscal policy. Other items studied include changes in income, production, and forecasting for stabilization of the economy.

Banking

In banking courses, students learn about money and financial markets. These include the banking industry, financial asset costing, and the importance of financial intermediation. Students will likely discuss the banking crises that have occurred, such as the 2007 crisis.

International Economics

This course will provide students with a better understanding of economics on an international scale. Topics covered will likely include international relationships and trade. Students will also learn about competition, strategies, and international policies.

Econometrics

Econometrics courses provide students with skills to organize and analyze economics data. Students may learn about quantitative methods and regression analysis, as well as probability theory. Programs will likely involve computer practice through one or more programs.

Admittance Requirements for a Master of Science in Economics and Finance

Requirements vary by program, but all require a bachelor's degree. Many programs require either an economics degree or some economics courses within a student's undergraduate work (or work experience). Schools may need to provide several references, a professional resume, and a minimum score on the GMAT or GRE. Students should expect a GPA requirement for admission, many of which are 3.0. Some schools may waive one requirement for a higher level of another requirement.

What Can You Do with a Master's Degree in Economics and Finance?

Financial Advisor

Financial advisors assist individuals and businesses with meeting their financial goals. Advisors create and maintain investment portfolios for their clients. A master's degree in economics and finance not only increases the expertise of a financial advisor, but it can make him/her more desirable to future employers.

Financial Analyst

Similar to financial advisors, financial analysts help their clients to maximize their investment returns. A financial analyst will work with clients to find a suitable portfolio while watching for and reacting to any economic changes that may affect their clients' portfolios. An M.S. in Economics and Finance can ensure that a financial analyst has sufficient knowledge of variables and risks so that he/she can provide the best services.

Insurance Underwriter

An underwriter is responsible for reviewing information on applications and determining if a client will be approved for insurance. The insurance underwriter is also responsible for determining what the appropriate premium and coverage should be for a client. Although a degree in finance is not a requirement, it drastically increases the knowledge and appeal of an employee.

Financial Manager

Financial managers, including CFOs, prepare all financial statements, reports, and estimated outlooks for companies. They constantly monitor finances and markets to make sure the company is operating efficiently. Many employers prefer candidates who have a master's degree (preferably in finance or a related field), although a bachelor's degree is all that is required at some companies.

Postsecondary Teacher

Community colleges often hire applicants who hold a master's degree in the field they are trying to teach in. College instructors will prepare and carry out lessons while assisting and grading students. Classes may be taught on campus, online, or a combination of the two.

Job Title Median Salary (2018)* Estimated Job Growth (2018-2028)*
Personal Financial Advisor $88,890 7%
Financial Analyst $85,660 6%
Insurance Underwriter $69,380 -5%
Financial Manager $127,990 16%
Postsecondary Teacher $101,480 (postsecondary economics teachers) 8% (postsecondary economics teachers)

Source: *U.S. Bureau of Labor Statistics

A Master of Science in Economics and Finance can be completed in around two years and provides students with an understanding of many economic topics. With a this degree, students can advise, teach, or run financials for an organization with the knowledge and skills gained during their program.

To continue researching, browse degree options below for course curriculum, prerequisites and financial aid information. Or, learn more about the subject by reading the related articles below:

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The schools in the listing below are not free and may include sponsored content but are popular choices among our users. Tuition and costs will vary across programs and locations. Be sure to always request tuition information before starting a program.

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  • Strayer University

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  • Southern New Hampshire University

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  • The University of Scranton

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  • Colorado Christian University

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  • Purdue University Global

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  • Regent University

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  • The Chicago School

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  • Capella University

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  • Liberty University

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  • Full Sail University

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