MBA in Economics

Economics and MBA programs have been interlinked ever since the field of business administration took roots. An Economics MBA degree is one of the most holistic programs that can be pursued, not only because it teaches the fundamentals of economic decision making but also focuses on various practical aspects of business and commerce.
 

Who Should Apply for an Economics MBA?

An Economics MBA degree is ideal for people who are or want to be in a decision making role within a business. Individuals working as managers of firms and even aspiring entrepreneurs can benefit from these programs. These degrees enable students to develop a well-rounded concept of how markets run and how to optimize business decisions in light of latest market trends.

Skills Learnt in an MBA Online Economics Degree

An Economics MBA aims to develop a very articulate mindset which can put both the profit and market situations together and maximize a business’s potential. Students who take up this degree program learn how to investigate the risks and potentials in investing in both local and foreign markets and make an informed decision based on their research. They also learn to analyze international finance markets and trade.



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Graduates of an Economics MBA program are invaluable when it comes to making decisions regarding pricing of a product, setting its market and advertising it. Graduates are also trained in industrial relations, marketing policies and investment decisions. Thus, Economics MBA graduates are able to set up a business in view of the local market and anticipate its growth and development in terms of both the local and the global market. Because of their vast knowledge of global economy, these students are particularly useful in keeping up with globalization in both their business’s financial and trade decisions, thus optimizing profit and developing a sustainable business.

Some degree courses may offer further specializations within an Economics MBA program such as:

 

  • Urban Economics
  • Labor Economics
  • Economic Analysis

Program Curriculum:

The curriculum will mainly depend on the university that you enroll in as well as the concentration subject that you go for. You’ll normally be required to take up some elective modules along with compulsory modules. This’ll help you fulfill the credit hour requirement and specifically focus on your academic and professional interests. Examples of programs that you will have to study may include the following:

 

  • Strategies for a Networked Economy
  • Economics and Management Decisions
  • Competition, Innovation, and Strategy
  • Mathematical Economics
  • Statistics for Economics
  • Introduction to Business Law
  • Macroeconomic Theory and Analysis
  • Resource and Environment Economics
  • Business Economics

Admission Requirements:

The admission requirements may vary from one university to another. You’ll typically be expected to hold a bachelors degree from an accredited institute with a minimum level of GPA. Most of the universities require candidates to have taken GRE or GMAT tests and have some relevant work experience. Moreover, alongwith your application you’ll have to provide official transcripts, letters of recommendation, and personal statement.
 

Economics MBA Online

An Economics MBA is also offered online by many universities. This is ideal for employed candidates who wish to further their education. The degree focuses on applying principles of economics and business administration to an organization.

Careers after Economics MBA Degree

There are number of capacities in which an individual can work in after obtaining an Economics MBA. Most of the jobs that attract graduates with an Economics MBA degree are those that involve a lot of decision making and supervisory roles. This degree imparts theoretical knowledge which can be put to practical use in almost all aspects of business. Therefore there are many different opportunities that graduates may want to pursue.
Some of the potential workplaces for an MBA in economics include:

  • Investment Banks
  • Management Consultancies
  • Development Sector Organizations
  • Environmental Policy Organizations
  • Public Sector Organizations
  • Multinational Corporations
  • Insurance Companies

To get a better idea of the career options that you may explore, look through the following details:

Economists

They are mainly responsible for evaluating ongoing economic issues, analyzing past trends, forecasting future prospects by collecting and analyzing economic data.  
Median Salary (2012):  $91,860

Job growth rate (2012-2022): 14%
 

Postsecondary Economics Teachers

Some MBA economics graduates may apply for position in academia. They teach economics and business administration subjects to university students and carry out research in different areas.

Median Salary (2012): $87,950 per year

 Job growth rate (2012-2022): 19%
 

Management Analysts

Based on research and analysis of external as well as internal factors, they formulate strategies that may help improve organizational efficiency and reduce costs. Management Analysts work in collaboration with senior management as well as all other relevant departments.
Median Salary (2012): $78,600 per year

Job growth rate (2012-2022): 19%
 

Market Research Analysts

They are responsible for analyzing market conditions in order to determine the future level of sales for products and services as well as the overall profitability of the company. They’ll have to examine consumer-specific concerns as well as social, economic, and political factors.

Median Salary (2012): $60,300 per year

Job growth rate (2012-2022): 32%
 

 

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Q:What is the eligibility criteria for Economics MBA?

A:An MBA in Economics requires a four year undergraduate degree in related subjects and two years of corporate world exposure for you to be able to apply for the degree program.

Q:What is the focus in the elective courses of MBA Economics?

A:The focus of the elective courses in MBA Economics is on various in-depth aspects, analysis, theories, developments and findings of macro and micro economics.

Q:What is the key difference between the MSc Economics and MBA in Economics degree program?

A:The MSc Economics degree program is a more specialist Economics degree program that focuses entirely or majorly on the Economic studies. On the other hand the MBA in Economics is a business qualification that stresses on the Economic aspects of business.

Q:Why should I take up the MBA of Economics degree online?

A:Taking the MBA in Economics degree program will allow you to work during the day time and take your classes after office timings from the ease of home. In the online program, students make their own schedules hence you will not be loaded with work. You will have the facility of taking the class whenever and however you want and cover as much course as you can absorb. You will also save up on the travel time and costs. The online MBA in Economics is also considered comparatively less expensive when it comes to campus-based learning.

Q:What do the typical coursework for an Economics MBA comprise?

A:The typical coursework for an Economics MBA involve assignments, discussions and case studies, mathematics problem set, extensive research, and numerous projects relating the field of economics.

Q:I was studying the MBA Economics courses online at Kaplan International but now that I wish to study it in their campus, they are not allowing me. Why is it so?

A:The MBA Economics courses online are different from the traditional courses, in regards to the course structure and make up. Therefore it is usually seen that for subjects such as Economics, you can't transfer your credits to and from the online variant. You may apply for the state of the art hybrid MBA Economics program offered at Kaplan, which offers the economic understanding to students in both, online and on-campus training

Q:Are there any online MBA Economics schools?

A:Yes, there are various prestigious MBA Economics schools offering their degree programs online. Here are a few names of institutions offering online MBA Economics Degrees: University of North Dakota Georgia Southern University, Loyola University Maryland, University of Scranton and Pace University.

Q:What is the MBA in Economics?

A:The Masters of Business Administration in Economics is a graduate level degree focusing on the principles, theories, concepts and practical application of the subject of economics to the real world as well as its relation to the business world. It's a highly sought after degree opening a plethora of flexible job options for the degree holders.

Q:What is the MBA Economics focus in the program?

A:The focus point for the MBA in Economics is equally on macro and micro economics. Students are taught in depth economic theories and their theoretical background and significance in the degree program. A diverse range of courses relating economics are taught. These include: micro economics, macro economics, international economics, global economy, development economics, and applied economics.

Q:What is taught in the The Societal and Governmental Environment of Business MBA Economics course structure?

A:The Societal and Governmental Environment of Business course of the MBA Economics is a course that is intended to help explain the decision making business environment. The primary focus of the Societal and Governmental Environment of Business course to study and emphasize on the regulations by the government as a constantly growing and increasing dimension of the greater environment of business decision making.

Q:What can you tell me about MBA in Economics?

A:The MBA in Economics is a sought after graduate program offered in a number of renowned online and campus based schools. The degree can be completed within two years if pursued in the traditional schools. However, the duration may vary if the degree is opted online, executive or the accelerated program. It offers comprehensive knowledge of the theories of economics, the development in economics, its impact on the modern era, and many more areas of study.

Q:I've completed a university MBA Economics, what are my career prospects?

A:After completing an MBA in Economics from an accredited university, you will have a prosperous career lying in wait for you. You can not only work as an economist or financial analyst for a number of large corporations, you can also choose to work privately as an adviser. There are multiple positions also available in the education sector.

Q:What does the MBA with Economics focus on?

A:The MBA in Economics is a professional graduate degree focusing on the theoretical concepts and their application to the real world. The program teaches the students the operations of the economic system with unpredictable external factors affecting the numerous theories taught. The program has a highly theoretical focus, making students great researchers and analysts. Students can also choose to study one specific area of economics in their graduate program.

Q:Is Economics a good MBA specialization area?

A:Indeed. The MBA in Economics degree holders get hired at lucrative job positions with good salary packages. They can be hired as economic analysts, business analysts, development officers, researchers, and can also qualify to work within the boundaries of entrepreneurship. The course curriculum of MBA Economics students is so diverse that it is not difficult for them to fit into any job description.

Q:While going through MBA Focus Economics, I came across the course The Theory Behind Game Theory. What is Game Theory?

A:The Theory Behind Game Theory is an important part of MBA Focus Economics. Game Theory refers to mathematically analyzing of circumstances that are calculated. Mostly in the incidents when a person's success depends upon the second person. The Theory Behind Game Theory course introduces the individual with Nash equilibrium and sequential moves.

Q:My search about MBA program focus on economics mentioned AACSB. What is purpose of this organization?

A:AACSB stands for Association of Advanced Collegiate Schools of Business. This organization ensures the advancement of quality business management education through accreditations. It is one of the most prestigious accrediting organizations in the world. Prospective students are advised to make sure the institutions they are enrolling in are accredited by the AASCB.

Q:As I read on the MBA Economics relation, there was mention of the course on Business Law. What are the contents of this course?

A:It is common to get to read about the course on Business Law while going through the articles on MBA Economics relation. This course is worth 4 credits in total and stresses heavily on the examination of the legal system and also the environment of legal businesses these days. Students get to study the instruments of negotiation and modifications.

Q:As i read on the job opportunities after MBA in Economics, there was mention of the course on Business Law. Can you please tell me what are the contents of this course?

A:It is usual to see the mention of the course on MBA in Economics while going through the articles on job opportunities after MBA in Economics. This course is worth 4 credits in total and features ample understanding of the in0-depth view to the impact that the government policy and legislature may have on business activities and the business environment.

Q:Can you please tell me what are the contents of the Business Ethics course of the MBA Economics programs?

A:The MBA Economics programs in the United States have a dedicated course on Business Ethics. This course is worth 5 credits in total and highlights on the ethical examination and comprehensive understanding of the values in a business setup. The course also stresses on making the students get ample understanding of the corporate ethics setup.

Q:What core courses are covered in economic MBA programs?

A:Economic MBA programs include core courses that are absolutely essential for this program. Some of the core courses are Legal and Global Environment of Business, Marketing, Corporate Finance, Organizational Behavior, Quantitative Methods and Managerial Economics. These courses are just an overview, it is important to note that these courses might vary with institutions. Students can compare these courses covered on our website.

Q:Reading about online MBA economic focus mentioned a course in Business Environment. What is included in this course?

A:Business Environment would be mentioned when reading about online MBA economic focus. This course is worth 4 credits. Students in this course get a chance to examine the external environment that affects businesses. The external environmental factors may include cultural, political, and macro economical. These external factors are analyzed and critical threats and opportunities are identified in this course. Prospective students are advised to search our website for a list of institutions offering this course.

Q:How long will it take to complete an online MBA economics program?

A:The regular time needed to complete an MBA in economics program is two years. This program aims at providing students with in-depth knowledge of business management and economics. There are also a number of accelerated MBA programs available. These take less than the regular time and can be completed in a year.

Q:Can you tell me how economics MBA helps in career?

A:Economics MBA allows students to develop various skills needed for general management, with a particular focus on the field of economics. It has a high demand in sectors like energy, retail and technology. According to BLS, more than 90% professionals with a background in economics earn a salary of $48,250 per year. The top ten percent with a master's degree in economics, such as an MBA have an annual salary of above $155,490.

Q:What can you do with an MBA in economics?

A:MBA in Economics enables students to acquire knowledge related to finance and money matters of organizations and economies. With MBA in Economics you can work in both public and private sector. The degree has broad job prospects as organizations normally need an economist or a financial advisor. You can find jobs in diverse work settings such as banks, retail, insurance, finance sectors, manufacturing and entertainment sectors.

Q:What is MBA in economics consisting of in terms of the curriculum?

A:The curriculum in an MBA in economics covers a wide range of subjects. Examples could be firms and markets, the global economy, mathematics and statistics for economics, microeconomics and macroeconomics theory and analysis, economic and business history of the united states, the economy & financial markets, current economic and financial problems: rhetoric, reality, and remedies, global economic trends and policy challenges, econometrics, managerial accounting, managerial economics, financial management and growth in the developing world and the global economy etc.

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