Earning bachelor's degrees in economics allows graduates to pursue careers as statisticians, financial advisors, and financial analysts. This degree teaches learners to assist private and public organizations in reducing costs, mitigating risk, and forming sustainable habits.
According to data from the National Center for Education Statistics (NCES), the popularity of a bachelor's in economics degree has risen in the last decade. The major saw 27,623 people earning the degree in 2010 versus 34,636 in 2021.
The degree's demand could be due to the spectrum of careers available upon graduation. Graduates can work in diverse industries, including research, energy, banking, and real estate. An entry-level economist can also climb the ladder to more advanced positions like securities trader.
Below, explore the features, costs, and outcomes associated with an economics bachelor's degree. This guide also highlights some of the best economics bachelor's programs to springboard your search.
Best Economics Bachelor's Degrees
Why Get an Economics Bachelor's Degree?
What to Expect From an Economics Bachelor's Degree
A bachelor's degree in economics prepares learners to understand how behaviors, business, and society can affect the economy. Degree-seekers also study organizational funding, banking, and investing.
An economics bachelor's degree typically includes 120 credits designed for students to complete in four years. Core credits include business, finance, and general education courses. In addition, schools often reserve some credits for electives, allowing enrollees to choose classes that interest them and build additional skills.
Undergraduates interested in pursuing a master's degree in economics should look for an accredited bachelor's program to ensure the transferability of their credits to their graduate program. The Association to Advance Collegiate Schools of Business (AACSB) and the International Accreditation Council for Business Education (IACBE) confer the status to the best economics bachelor's programs.
Degree, Concentration, and Format Options
Understanding the differences between the best economic bachelor's programs can help learners find a suitable fit for their career goals. Degree-seekers can choose a bachelor of arts or a bachelor of science in economics.
The bachelor of science variation typically leans more into math and science concepts, including statistics and calculus. In contrast, bachelor of arts programs usually include more social sciences and economics theory courses.
Despite their subtle differences, these bachelor's degrees require the same number of credits and length to completion. However, a bachelor of arts curriculum may include additional electives. Accelerated economics bachelor's degrees may allow learners to complete their bachelor's in three years, while a combined bachelor's-to-master's curriculum may take five.
Finally, degree-seekers should consider whether to attend school in person or online. Online classes provide flexibility for learners who live far from their campus. Additionally, asynchronous courses without scheduled lectures and meeting times offer greater scheduling flexibility to online students.
Still, some learners work better with in-person instruction. Hybrid programs feature a blend of online and in-person learning, benefiting enrollees who need an accommodating schedule.
Should You Get an Economics Bachelor's or an Accounting Bachelor's?
Accounting and economics bachelor's degrees have many similarities, making it challenging to determine which program may offer the best fit. Degree-seekers will find that these two degrees include some of the same courses and require the same time commitment and credit loads.
However, a bachelor's in economics degree may have more admission requirements and prerequisites for students to meet. Learners seeking a specific career should also be mindful of the varied professional outcomes of each degree.
| Key Factor | Bachelor's in Economics | Bachelor's in Accounting |
|---|---|---|
| Credit load | 120 credits | 120 credits |
| Program length | Four years | Four years |
| Tuition | $200-$660 per credit | $250-$450 per credit |
| Admission requirements |
|
|
Types of courses | Macroeconomics, Microeconomics, Statistics, Calculus, Corporate finance, Data science | Accounting, Microeconomics, Macroeconomics, Cost accounting, Business taxation, Statistics |
| Career outcomes | Statistician, Financial consultant, Risk analyst, Economic research scientist, Market analyst, Actuary | Public accountant, Forensic accountant, Auditor, Financial director, Chief financial officer, Tax specialist |
Admissions Process
The admissions process for an economics bachelor's degree begins with an application and submission of high school transcripts or proof of GED completion.
Some schools also require applicants to complete macroeconomics, microeconomics, and statistics courses with passing grades before declaring an economics major. Additional requirements for some programs include a minimum GPA of 3.0 and ACT or SAT scores.
Though not all schools require candidates to provide letters of recommendation, these documents may increase an applicant's chances of acceptance. Applicants should consider using Common App to streamline the process of applying to multiple schools.
Popular Economics Undergraduate Courses
Undergraduate economics programs include general education, core curriculum, and elective courses. General education courses, such as composition and calculus, take up most of the first two terms. Then, students begin their core curriculum of targeted economics courses and relevant electives of their choosing.
Most programs also end with capstone projects, in which students apply learned concepts to real-world situations.
How Much Do Economics Bachelor's Programs Cost?
An economics bachelor's degree costs $200-$660 per credit, on average. Therefore, a 120-credit program may cost $24,000-$79,200. However, some schools offer per-semester or per-year tuition, which can reduce total program costs — especially for accelerated degrees.
Tuition rates may also vary between in-state and out-of-state learners, with the latter costing more per credit. Some schools also assign different tuition rates for online learners, which may be higher than in-state tuition.
Degree-seekers can receive help paying for their education with financial aid. Students do not need to pay back scholarships or grants but must repay loans after the initial deferment period. Follow the links below to learn more about financial aid options for an economics bachelor's degree.
Should You Get Your Degree Online?
Online learning has become a popular option for students. According to NCES data, 44% of four-year public school students were enrolled exclusively in distance education courses in the fall 2020 semester. Private for-profit schools found 73% of their students enrolled online.
Several schools offer online economics bachelor's degrees with no in-person requirements. The math and social science-based curriculum suits the online experience well for motivated learners who do not require face-to-face instruction.
An online bachelor's in economics with asynchronous classes allows learners to complete coursework where and when they want. An online program with online tuition rates may also be the most cost-effective option for out-of-state learners.
Economics Jobs and Salaries
According to the BLS, economics professionals earn the highest average wages in the finance and insurance industry, with the federal government close behind. Fortunately, these industries offer career opportunities for economics graduates, such as actuary and financial analyst roles.
Additionally, a graduate can advance their career and salary potential by pursuing a master's degree. Many employers prefer master's degree-holders for economist, statistician, and urban planner roles.
The following careers are possible options for economics bachelor's degree graduates.
Actuary
Actuaries typically possess accounting backgrounds but use mathematical and statistical analysis skills to determine financial risk for a company. Their duties include compiling and dissecting financial reports, reporting findings to financial managers, and designing policies to mitigate risk. Actuaries often work in the insurance industry but also work with government agencies or large corporations.
Required Education: Bachelor's degree in economics, actuarial science, or accounting
Job Outlook (2023-33): +22%
Median Annual Salary (2024): $125,770
Source: BLS
Financial Analyst
A financial analyst works with an organization to discover ways to increase its revenue and improve financial stability. These professionals typically work in the investment and insurance industries. Economics students interested in financial analyst careers can focus their electives on financial courses, like accounting and corporate investments.
Required Education: Bachelor's degree in accounting, business, or economics
Job Outlook (2023-33): +9%
Median Annual Salary (2024): $101,910
Source: BLS
Economist
Economists study how business, society, and the economy affect one another. Their work assists in identifying opportunities for economic growth and mitigating the risk of inflation and supply chain issues. Although some employers prefer master's-level candidates, bachelor's graduates may find entry-level roles that allow for advancement within organizations or government agencies.
Required Education: Master's degree in economics, statistics, or business
Job Outlook (2023-33): +5%
Median Annual Salary (2024): $115,440
Source: BLS
Statistician
These professionals use advanced mathematical concepts to dissect, compile, and understand data. Statisticians with backgrounds in economics might use their skills to analyze current and predict future economic trends. Healthcare, government, and research facilities typically employ statisticians.
Required Education: Master's degree in statistics, economics, or computer science
Job Outlook (2023-33): +11%
Median Annual Salary (2024): $104,350
Source: BLS
Selecting the Right Economics Program
Choosing the best program for your needs can help you reach your educational and career goals. Consider the following factors when searching for an economics bachelor's degree:
- Accreditation: Accredited programs meet quality standards set by accrediting bodies. Look for programs accredited by AACSB or IACBE, which commonly endorse economics programs. Always ensure that the college or university holds institutional accreditation, as well.
- Curriculum: Does a curriculum allow you to include electives that build specific skills or interests? Consider if the program's courses align with your career goals.
- Research Opportunities: Some economics programs include internships or research opportunities for students to gain practical experience. If you are studying online, make sure you can meet in-person field requirements.
- Concentrations: Programs with concentration options can benefit students interested in specializing in an area of economics, such as public policy or international economics.
- Graduate Support: What alum support is available for graduates? Research if a program includes career mentorship, job search assistance, or networking events to help graduates transition into the workforce.