25 Best Affordable Online Economics Degree Programs (Master’s) 2020

25. University of Detroit Mercy

Detroit, Michigan

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University of Detroit Mercy (UDM, est. 1877) is a private, nonprofit institution affiliated with the Roman Catholic Church. The current institution is from the merger of two older institutions, one founded by the Jesuits, the other by the Religious Sisters of Mercy. It serves students on three campuses and online.

UDM offers top-value bachelor’s through doctorate level degrees, plus certificate programs. It has two cheap online/ hybrid programs in economics or related topics:

• Master of Arts in Economics (MAE)
• Master of Arts in Financial Economics (MAFE)

Both are 30-credit (minimum) low-cost online programs expected to take one year, and for which no GRE/ GMAT is required. The MAE prepares students for careers in areas of business and finance, government, law, non-profits, in roles such as analysts, forecasters, planners, teachers (high school, college). Sample online economics courses include: Economic Analysis of Enterprises; Quantitative Foundations of Economic Analysis. A thesis option is available. The MAFE prepares students for similar careers, as well as in financial institutions (including central banks, commercial and and investment banks, research organizations). Sample courses include: Financial Economics; Money and Capital Markets.

24. Northeastern University

Boston, Massachusetts

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Northeastern University (NU, est. 1898) is a private, nonprofit institution. Originally founded as a school for men, this coed university currently serves students on five campuses (including Toronto, Canada) and online. It also has partnerships with nearly 100 institutions in over 30 countries.

NU offers top-value bachelor’s through doctorate level degrees, plus certificate programs. It has one of the least expensive online/ hybrid programs in economics or related topics: a low-cost Master of Science in Commerce and Economic Development (MSCED). Delivered jointly by the College of Professional Studies and the College of Social Sciences and Humanities, this is a 33- to 36-credit online, STEM-designated program of 1.5-2.5 years. Students choose from one of four concentrations: Economic Analysis; Economic Entrepreneurship; Financial Economics; Data Analytics. The affordable online curriculum develops the skills necessary for career opportunities in economic development and international trade, amongst others, possibly with government agencies or international or nonprofit organizations. Sample courses include: Applied Microeconomic Theory; Applied Econometrics; Commerce and Economic Development. Completion of a Capstone project is required.

23. Chicago School of Professional Psychology at Los Angeles

Los Angeles, California

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Chicago School of Professional Psychology at Los Angeles (TCSPP, est. 1979) is a private, nonprofit institution and a member of the TCS System. While not an HBCU (Historically Black College/ University) nor HSI (Hispanic-Serving Institution), TSCPP-LA has a significant percentage of African American/ Black and Hispanic/ LatinX students (2nd and 3rd largest groups, respectively). The LA campus is one of several that serve TCS students.

TCSPP offers high-value bachelor’s through doctorate level degrees, plus certificate programs. It has one low cost online/ hybrid program in economics or related topics: a Master of Arts in Behavioral Economics (MABE). This is an affordable online program expected to take two years (full-time). In short, the online master’s degree program “blends psychology and economics to provide a fuller understanding of human behavior and preferences.” The curriculum covers: economics and finance; game theory; cognitive, consumer and social psychology; public policy; statistics. Sample online courses include: Brain and Behavior; Consumer Motivation; Choice Architecture. Completion of two Capstone seminars are required, which collectively includes 30 hours of fieldwork and the submission of a journal article produced from data collected during the fieldwork.

22. Penn State University-World Campus

University Park, Pennsylvania

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Penn State University (PSU, est. 1855) is a public institution and a member of the Pennsylvania State University System. Penn State, which has the distinction of being considered a public equivalent of an Ivy League school, has been offering distance education since the 1890s. Originally founded as a high school, it now serves students on 20+ campuses and learning centers, and online through its World Campus (PSU-WC, est. 1998) division, which delivers distance education programs.

PSU-WC offers economical associate’s through doctorate level degrees, plus certificate programs. It has one of the cheapest online/ hybrid programs in economics or related topics: a Master of Professional Studies in Community and Economic Development (MPS CEDEV). Delivered by the Department of Agricultural Economics, Sociology, and Education, this is a 30-credit online program. It builds the knowledge and skills necessary for career roles that contribute to various aspects of community and economic development, including community capacity, infrastructure, local economy enhancement, services, sustainable communities, etc. Sample courses include: Principles of Local Economic Development; Community and Economic Development: Theory and Practice; Methods and Techniques for Community and Economic Development. Alternatives: a 15-credit Community and Economic Development Graduate Certificate (credits applicable to the CEDEV program).

21. Southern New Hampshire University

Manchester, New Hampshire

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Southern New Hampshire University (SNHU, est. 1932) is a private, nonprofit institution. Originally founded as a small, private, for-profit business school, it became nonprofit in1968, and has offered Internet-based distance education programs since 1995. The university serves about 30 times as many students online (~90,000) as are on-campus (~3,000), for which it has earned a Distance Learning Award for Excellence in Online Technology from the United States Distance Learning Association (USDLA). It also serves students on this main campus and two other locations.

SNHU offers economical associate’s through doctorate level degrees, plus certificate programs. It has one inexpensive online/ hybrid program in economics or related topics: a cheap Master of Science in Applied Economics (MSAE). The MSAE is a 36-credit online master’s degree program with a completion time of 15 months or longer. The online curriculum honors the multidisciplinary nature of economics and prepares students to work with multi-sourced data and make decisions, particularly on “the political and sociological dimensions of a problem.” Skills gained include: data collection and processing; building of advanced economic models; econometric and empirical analysis; reporting of findings. Sample online courses include: Mathematics and Statistics for Economics; Game Theory and Industrial Organization; Capstone.

20. Regent University

Virginia Beach, Virginia

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Regent University (Regent, est. 1977) is a private, nonprofit, interdenominational Evangelical institution. It was founded by televangelist Pat Robertson and incorporates a Evangelical Christian worldview into its academic offering.

Regent offers low-cost associate’s through doctorate level degrees, plus certificate programs. It has one cheap online/ hybrid program in economics or related topics: a top-value Master of Business Administration (MBA) with a concentration in Economics. This is an ACBSP-accredited master’s degree program with a choice of online or on-campus courses. Graduates of this affordable online master’s degree program can find employment in economics- or finance-based roles or environments, such as: Economist, Financial Reporter, Financial Analysis and Management; Research Analyst; Executive Financial Leadership; Personal Financial Consultation. Contact the admissions department for more information about the curriculum.

19. Southern Illinois University – Carbondale

Carbondale, Illinois

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Southern Illinois University – Carbondale (SIU, est. 1869) is a public institution and a member of the Southern Illinois University System. Originally founded as a teacher training school, it has had diversity in its enrollment since the first year, currently having a 30% ethnic minority enrollment, and an average undergrad age of 23.5.

SIU offers affordable associate’s through doctorate level degrees, plus certificate programs – with over 200 programs in total. It has one of the lowest-cost online/ hybrid programs in economics or related topics: a cheap Master of Business Administration (MBA) with a concentration in Agribusiness Economics (ABE) – one of only about 10 such public programs available in the USA. Delivered jointly by the College of Business in collaboration and College of Agricultural Sciences, this is a 43-credit, online, AACSB-accredited master’s degree program expected to take about two years. This ABE builds the skills necessary for agribusiness economics management roles, such as in the areas of banking and finance, business and farm management, farm appraisal, market and policy analysis and more. Sample courses include: Agribusiness Economics Research Methodology; Agricultural Development; Problems and Policies of the Agricultural Sector.

18. Mercer University

Macon, Georgia

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Mercer University (Mercer, est. 1833) is a private, nonprofit institution. Originally founded as a boys prep school, it is the state’s oldest private institution, and currently serves students at multiple campuses and learning centers, and online.

Mercer offers high-value bachelor’s through doctorate level degrees, plus certificate programs. It has one affordable online/ hybrid program in economics or related topics: an inexpensive Master of Business Administration (MBA) with an Economics concentration. (Finance and four other concentrations also available.) Delivered by the Stetson School of Business and Economics, this is a 36- to 45-credit, online, AACSB-accredited master’s degree program expected to take at least 18 months and which includes completion of a Capstone experience. Sample online courses include: Micro and Macro Economics; Managerial Economics. Alternatives: Mercer offers four dual-degree (master’s or doctorate) options with the MBA: Accountancy; Pharmacy, Divinity; Physical Therapy.

17. Wright State University

Dayton, Ohio

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Wright State University (WSU, est. 1967) is a public institution. It serves students on two campuses and online.

WSU offers low-cost bachelor’s through doctorate level degrees, plus certificate programs – nearly 300 affordable degree programs in total. It has one of the least expensive online/ hybrid programs in economics or related topics: a Master of Business Administration (MBA) with a concentration in Business Economics (BE) – with Finance and eight other concentrations also available. Delivered by the Raj Soin College of Business, this is a 40.5-credit, AACSB-accredited master’s degree program with choice of online or on-campus courses, and full- or part-time study options. Students get a grounding in typical MBA curriculum topics integrated with the principles of Economics. Sample courses include: Survey of Economics; Economics for Managers;

16. Johnson & Wales University-Online

Providence, Rhode Island

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Johnson and Wales University (JWU, est. 1914) is a private, nonprofit institution and a member of the Johnson and Wales University System. The Online division delivers distance education programs, while JWU itself serves students on four campuses.

JWU offers best-value bachelor’s through doctorate level degree programs. It has one low-cost online/ hybrid program in economics or related topics: a cheap Master of Science in Global Tourism and Sustainable Economic Development (MS-GTSED). This is a 30-credit online master’s degree program expected to take at least two years. Unique amongst the master’s of economics programs in this ranking article in that it focuses on application of economic development principles to tourism destinations. Sample online courses include: Tourism Economics; Global Tourism Marketing and Branding; International Tourism Development, Economic Issues and Strategic Solutions in the Developing World.

15. Xavier University

Cincinnati, Ohio

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Xavier University (Xavier, est. 1831) is a private, nonprofit institution affiliated with the Jesuits/ Catholic Church. It incorporates Jesuit Catholic values into its programs, but welcomes all faiths (over 20 religions are practiced on campus).

Xavier offers low-cost associate’s through doctorate level degrees, plus certificate programs. It has one cheap online/ hybrid program in economics or related topics: a top-value Master of Science in Health Economic and Clinical Outcomes Research (MS-HECOR). This is a 39-credit online master’s degree program expected to take two years to complete. it is ideal for individuals planning on careers in health analytics, health economics and health services research. HECOR graduates find career opportunities in biotech, clinical research, consulting, hospitals, medical device companies, pharmaceuticals, public health agencies. The curriculum is divided into five course groups: Core; Statistics and Analytics; Economics and Healthcare Systems; Economic Evaluation and Modeling; Capstone. Sample core courses include: Health Economics; Economic Evaluation and Simulation Modeling.

14. SUNY Empire State College

Saratoga Springs, New York

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SUNY Empire State College (ESC, est. 1971) is a public institution and a member of the State University of New York (SUNY) System. It serves primarily working-adult students at 35 campuses/ learning centers, plus online.

ESC offers economical associate’s through master’s level degrees, plus certificate programs. It has one low cost online/ hybrid program in economics or related topics: a cheap Master of Arts in Community and Economic Development (MACED). Delivered by the School for Graduate Studies, this is a best-value 36-credit online program. The curriculum combines topics in economic development and community development, suitable for individuals who will seek career roles in public policy and producing positive economic outcomes in communities. Sample core online courses include: Public Policy Analysis; Principles of Community and Economic Development; Stakeholder Sensitive Business Models. Alternatives: MACED students can add a graduate certificate to further tailor their studies. ESC also offers a dual-degree bachelor’s/ master’s option with a choice of a bachelor’s (BA/ BS/ BPS) in either Business, Management and Economics or Public Affairs.

13. Western Illinois University

Macomb, Illinois

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Western Illinois University (WIU, est. 1899) is a public institution. Originally founded as a teacher training school, it currently serves students on two campuses and online. While it is not an HBCU (Historically Black College/ University) nor an HSI (Hispanic-Serving Institution), it has 22% and 46% African-American/ Black students enrolled at the Macomb and Quad Cities campuses, respectively, and 12.1% and 11.7% percent Hispanic/ LatinX students, respectively

WIU offers affordable bachelor’s through doctorate level degrees, plus certificate programs – nearly 120 economical degree programs in total. It has one of the least expensive online/ hybrid programs in economics or related topics: a cheap Master of Arts in Community and Economic Development (MACED). This is a minimum 36-credit hybrid program with online courses and some face-to-face meetings, with an expected 17-month timeline. Students gain or build on skills in community and economic development, and marketing and data analysis, with a generous choice of elective courses to customize studies. Sample courses include: Small Community Development; Advanced Economic Development Practices; Sustainability and Community Economic Development.

12. University of Missouri-Columbia

Columbia, Missouri

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University of Missouri-Columbia (Mizzou, est. 1839) is a public institution and a member of the University of Missouri System. It serves students on-campus and online, with nearly 80% of undergrads (AY17-18) having taken at least one distance/ online class, and 34% for grad students.

Mizzou offers affordable bachelor’s through doctorate level degrees, plus certificate programs – including 120+ online programs. It has one of the cheapest online/ hybrid programs in economics or related topics: a low-cost Master of Arts in Economics (MAE). Delivered by the Department of Economics within the College of Arts and Science, this is a 30-credit online master’s degree  program with an expected two-year timeline. The MAE is particularly designed for the individual seeking data-analytic roles in economics, either in economic development, international development or trade, or in the public sector. Topic areas include banking, econometrics, economic development, international trade and monetary systems, macroeconomic and microeconomic theory, Quantitative economics. Sample courses include: Economics of International Trade; Introduction to Game Theory; Problems in Economics.

11. Purdue University

West Lafayette, Indiana

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Purdue University (Purdue, est. 1869) is a public institution and a member of the Purdue University System. The Purdue system serves students at this main campus, three regional campuses, the joint IUPUI campus (with Indiana University), several Polytechnic leraning centers, and the Global (formerly Kaplan University locations) and Online divisions.

Purdue offers low-cost associate’s through doctorate level degrees, plus certificate programs – over 180 degree programs in total. It has one inexpensive online/ hybrid program in economics or related topics: a cheap Master of Science in Economics (MSE). Delivered by the Krannert School of Management, this is a 30-credit, AACSB-accredited master’s degree program with a choice of online or hybrid delivery, and a 20- to 36-month timeline. It builds the analytic and qualitative skills required for evaluating, forecasting and optimizing “key economic and business outcomes.” Students tailor their studies by choosing one of four specializations: Business and Data Analytics; Financial Economics; Public Economics and Policy; Advanced Theory (on-campus requirements). Sample core courses include: Statistics for Economists; Math for Economists; Econometrics .

10. University of North Dakota

Grand Forks, North Dakota

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University of North Dakota (UND, est. 1883) is a public institution and a member of the North Dakota University System. The university, which has the only law and medical schools in the state, has enjoyed visits from six sitting presidents, including most recently Barack Obama, Bill Clinton and Ronald Reagan.

UND offers top-value bachelor’s through doctorate level degrees, plus certificate programs – with 250+ fields of study. It has one cheap online/ hybrid program in economics or related topics: an affordable Masters of Science in Applied Economics (MSAE). This is a 30-credit master’s degree program with a choice of online or on-campus courses and expected timeline of least two years. (Online classes are both synchronous and available for later streaming.) The MSAE is designed for individuals planning economic careers in analysis, consulting, economic or strategic development, forecasting, or research, in private or public sectors. Sample online courses include: Economic Forecasting; Econometrics; Demographic Methods for Economists. Alternatives: accelerated dual-degree bachelor’s/ master’s option in Economics.

9. Ball State University

Muncie, Indiana

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Ball State University (BSU, est. 1918) is a public institution. Originally founded as a founded as a teacher training school, it was established on the land and assets (of an older private institution) purchased and donated to the state by the industrialist/ philanthropist Ball Brothers. It enjoyed record enrollment for Fall 2019 – the most in its entire 100+ year history – and it earned the #1 position for being a top campus for students with disabilities in a ranking published by College Magazine.

BSU offers economical associate’s through doctorate level degrees, plus certificate programs. It has one of the lowest-cost online/ hybrid programs in economics or related topics: Master of Business Administration (MBA) with one relevant concentration in Health Economics, Policy, and Administration (HEPA; Finance, General and three other concentrations also available). Delivered by the Miller College, this is an AACSB-accredited master’s degree program (with choice of online, blended or on-campus courses). Credit requirements vary depending on whether a student holds an undergrad business degree (30-33 credits) or not (up to 51 credits, variant on concentration). The HEPA concentration builds the skills necessary for individuals to analyze cost/ benefits of healthcare delivery models and financing from various perspectives (manufacturers, patients, providers). Sample courses include: Health Economic Analysis; Health Economics and Policy; Risk Management and Insurance.

8. Youngstown State University

Youngstown, Ohio

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Youngstown State University (YSU, est. 1908) is a public institution. Originally founded by the YMCA as a single-course program in law, it now serves students online and on one of the state’s safest campuses. It joined the Ohio System of Higher Education in 1967.

YSU offers low-cost associate’s through doctorate level degrees, plus certificate programs – over 150 degree programs in total. It has one of the least expensive online/ hybrid programs in economics or related topics: a cheap Master of Arts in Financial Economics (MAFE). Delivered by the College of Liberal Arts and Social Sciences, this is a 33-credit online master’s degree program (with choice of on-campus studies) and optional thesis. The curriculum builds the skills necessary to make financial decisions, including: analyzing macro- and microeconomic models; econometrics; interpreting stock valuations; managing financial capital, etc. Potential careers include roles in banking, financial advising, insurance and others. Sample courses include: The Economics of Financial Markets and Institutions; Econometrics; Financial Accounting and Finance for Decision Making. Alternatives: YSU offers a 4+1 dual-degree Bachelor’s and Master’s option for the MAFE.

7. Murray State University

Murray, Kentucky

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Murray State University (MSU, est. 1922) is a public institution. It serves students on five campuses/ regional campuses plus online.

MSU offers economical associate’s through doctorate level degrees, plus certificate programs – over 140 degree programs in total. It has one affordable online/ hybrid program in economics or related topics: a top-value Master of Science in Economic Development (MSED). Delivered by the Department of Economics and Finance within the Arthur J. Bauernfeind College of Business, this is a 30-credit online master’s degree program (with choice of on-campus courses and full- or part-time studies). It builds skills in multiple areas of economic development, including: business recruitment; city, regional and urban planning; demography; economics; education; geography and mapping; hospitality; infrastructure; marketing; political science; tourism. Sample courses include: Introduction to Economic Development; Economic Development Methods; Economic Development Finance.

6. Gardner-Webb University

Boiling Springs, North Carolina

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Gardner-Webb University (GWU, est. 1905) is a private, nonprofit institution affiliated with the Baptist State Convention of North Carolina. Originally founded as a high school, it incorporates Baptist Christian ideals into its academic programs. It serves students on campus and online, with about 30% of all students taking all courses online.

GWU offers best-value associate’s through doctorate level degrees, plus certificate programs. It has one low-cost online/ hybrid program in economics or related topics: a cheap Master of Business Administration (MBA) with an emphasis in Economics (Finance and nine other emphases available). Delivered by the Graduate School of Business/ Godbold School of Business, this is a 36-credit hybrid master’s degree program. It builds leadership skills for businesses in all sectors (public, private, non-profit), combining principles of economics. Completion of a Strategic Management Capstone is required. Alternatives: dual-master’s degree options with MBA and Nursing or MBA and Divinity. Contact admissions for more information about the Economics emphasis.

5. Georgia Southern University

Statesboro, Georgia

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Georgia Southern University (GS, est. 1906) is a public institution and a member of the University System of Georgia. It serves students on three campuses and online.

GS offers low-cost associate’s through doctorate level degrees, plus certificate programs – over 140 degree programs in total. It has one cheap online/ hybrid program in economics or related topics: a high-value Master of Science in Applied Economics (MSAE). Delivered by the Department of Economics within the Parker College of Business, this is a 30-credit online, asynchronous, AACSB-accredited master’s degree program with no campus visits. It builds analytical skills in the areas of “economic development, financial economics, market analysis, quantitative analysis, and regulatory analysis and issues.” Sample elective courses include: International Economics; History of Economic Thought; Regional Economic Development.

4. Peru State College

Peru, Nebraska

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Peru State College (PSC, est. 1865) is a public institution and a member of the Nebraska State College System. Originally founded as a private seminary by the Methodist Episcopal Church, it is the state’s oldest institution and serves students on campus and online.

PSC offers economical bachelor’s and master’s level degrees, plus certificate programs. It has one of the least expensive online/ hybrid programs in economics or related topics: a top-value Master of Science in Organizational Management (MSOM) with a concentration in Entrepreneurial and Economic Development (EED). This is a 36-credit hybrid master’s degree program whose curriculum combines topics in economic development, entrepreneurship and organizational management. Students have a choice of Internship, Thesis or Action Research Project. Graduates gain the skills to launch their own business or participate in others in a way that contributes to their community. Sample courses include: Economic Development; New Venture Planning and Financing; Study Design and Data Collection.

3. University of Southern Mississippi

Hattiesburg, Mississippi

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University of Southern Mississippi (USM, est. 1910) is a public institution and a member of the Mississippi Institutions of Higher Learning. It comes in third on our ranking of the best, most affordable online master’s in economics degrees. Originally founded as a teacher training school, it currently serves students on two campuses and online.

USM offers cheap bachelor’s through doctorate level degrees, plus certificate programs. It has one low cost online/ hybrid program in economics or related topics: an affordable Master of Science in Economic Development (MSED). Delivered by the College of Business and Economic Development, this is a 30-credit, hybrid, AACSB-accredited master’s degree program with a choice of thesis or Economic Development Mentorship. (Comprehensive exam required.) Graduates will gain the skills to “manage public-private investment collaborations to facilitate sustainable growth in the economy.” Sample courses include: Economic Development Data Analytics and Theory; Entrepreneurship and Tech-Based Development; Com.unity Data Analytics

2. University of Houston-Victoria

Victoria, Texas

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University of Houston-Victoria (UHV, est. 1973) places second in our ranking of the best, most affordable online master’s degrees in economics. It is a public institution and a member of the University of Houston System, serving students on this main campus, a learning center, and online, and has transfer partnerships with a half dozen community colleges. UHV is designated an HSI (Hispanic-Serving Institution) and has an undergrad population of 40% Hispanic/ LatinX. Its overall enrollment leans to female (about 65% to 35% male).

UHV offers low-cost bachelor’s and master’s level degree programs – around 70 degree programs in total. It has one of the cheapest online/ hybrid programs in economics or related topics: an affordable Master of Science in Economic Development and Entrepreneurship (MSEDE). This is a 30-credit, online, AACSB-accredited master’s degree program that combines the aforementioned specialties. Graduates gain the skills to launch and sustain their own business, grow a community through their business, consult for other owners, or work in chambers of commerce, companies, consulting firms, government agencies and more. Sample online courses include: introduction to Economic Development and Entrepreneurship; Methods in Economic Development; Theory and Practice of Regional Economic Development. Completion of a Capstone project (Theory and Practice of Regional Economic Development) is required.

1. West Texas A & M University

Canyon, Texas

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West Texas A&M University (WTAMU, est. 1910) earns first place in our ranking of the best, most affordable online master’s degrees in economics. It is a public institution and a member of the Texas A&M University System. Originally founded as a teacher training school, it serves students online and on a campus considered one of the safest in the state. While not an HSI (Hispanic-Serving Institution), its Hispanic/ LatinX enrollment is over 25% (2nd largest enrollment group).

WTAMU offers low-cost bachelor’s through doctorate level degree programs – about 100 degree programs in total. It has one inexpensive online/ hybrid program in economics or related topics: a cheap Master of Science in Finance and Economics (MSFE). Delivered by the Paul and Virginia Engler College of Business, this is a 36-credit online master’s degree program (with choice of on-campus instruction) expected to take two years. It is intended for individuals working in or seeking roles in economics- or finance-related environments (business departments, government, private sector, consulting, teaching at high school or college level, etc.). The online curriculum includes courses in Theory of Households and Firms, Monetary and Fiscal Policy, Corporate Governance, Corporate Finance, Asset Valuation, International topics, Quantitative Analysis. Sample courses include: Advanced Microeconomic Theory; Advanced Macroeconomic Theory; International Economics and Economic Development.