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Students discussing their economics coursework.

Spotlight On: Our Master’s in Economics Program – Purdue Krannert

Tuesday, March 5, 2019

A master’s degree in economics is often listed as one of the best paying master’s degree options. In fact, it sits at #3 on the Best-Paying Master’s Degree list by Monster.

If you are interested in an economics master’s degree, our Master of Science in Economics offers affordability, flexibility, and specialization, so you can tailor your degree around your life and career goals.


As a student, you will gain a skill set to evaluate and forecast key economic outcomes. You will graduate with an understanding of the stock market, product pricing, inflation, and more.

You will be trained on the cutting-edge statistical software applications like Stata, Matlab, and EViews. You will also have the opportunity to learn how to use the programming tool Python.

The required courses for the program include subjects in:

  •         Statistics for Economists
  •         Math for Economists
  •         Econometrics (big data, machine learning)
  •         Microeconomics
  •         Macroeconomics

Program Specialization

One of the best parts of our program is the built-in customization available through our specialization tracks.

There are 4 specialization options:

  •         Business and Data Analytics
  •         Financial Economics 
  •         Public Economics and Policy
  •         Advanced Theory (requires on-campus period)

You have the option of choosing more than one specialization track if you are interested in multiple topics. The minimum number of credit hours to complete the program is 30, but could be more depending on the specialization track chosen.

Program Flexibility

Our program offers flexibility, so you can complete your studies in a desired setting and through a realistic course load that works in your life.

While every student starts the program in August and courses usually last eight weeks, students have many options to tailor the program to fit their schedule.

Choose between:

  •         Purely online or a mix of online and on-campus learning (hybrid)
  •         Full-time or part-time studies
  •         Completing the program in as little as 20 months or spread out over 36 months

Program Cost & ROI 

Online economics MS programs are not common, especially among Tier 1 Research Universities — like Purdue — and the affordability of the program is another draw.

Tuition fees are $967.50 per credit for Indiana residents and $1,075 per credit hour for non-Indiana residents.

*All fees are subject to increase based on approval by the Purdue University Trustees.

 Highly-qualified admitted applicants can obtain scholarships up to $5,000.

In 2017, the median pay for an economist in the U.S. was $102,490 a year. The Bureau of Labor Statistics predicts the job outlook for economists being best for those with a master’s degree or Ph.D.

Application Requirements

Applicants are not required to take the GRE or GMAT test. You are welcome to apply if you have good credentials in any discipline (minimum GPA of 2.7).

You will need to submit an application and provide undergraduate transcripts — we expect to see good performance in all mathematics and statistics courses. Applicants are evaluated by a committee.


The Master of Science in Economics program is a top-ranked program; it is ranked as the #2 Best Online Master’s in Economics Programs by Best Colleges.

An economics master’s degree can open the door to a lucrative and rewarding career. If you are interested in learning more about our master’s degree in economics program, submit your information on the form on the right and visit the FAQs page.