An online bachelor’s degree in economics prepares graduates for careers in a variety of fields, including business, government, finance, academia, consulting, and research. This degree also provides a strong foundation for students who want to pursue graduate study in economics and prepare for high-level positions.
Employment of economists is expected to grow by 6% through 2032, according to the U.S. Bureau of Labor Statistics. The median annual pay for economists is $115,730. Meanwhile, budget analysts earn a median annual salary of $84,940, and the median pay for financial analysts is $99,890.
For a bachelor’s in economics, students must typically earn 120 credits. Full-time students usually complete this degree in four years. This program’s cost varies and mainly depends on the type of school a student chooses. The National Center for Education Statistics reports that the average cost of undergraduate tuition is $7,998 per year at public institutions and $34,923 per year at private institutions.
How to Choose an Online Bachelor’s in Economics Degree Program
Choose your area of study
Students may earn a Bachelor of Science (BS) or a Bachelor of Arts (BA) in economics. Bachelor of Arts programs offer a broader curriculum with a more theoretical approach to the field. Bachelor of Science programs prepare students for applied economic positions with an emphasis on mathematics and quantitative elements.
Many programs will allow you to select a concentration and focus your studies on a particular niche in this field, such as finance, management, industrial organization, or public policy. If you already know what you would like to do after you graduate, look for programs that closely match these career goals.
Research schools and programs
You should only apply to institutions that have been approved by a DOE-recognized regional accrediting organization, such as the New England Commission of Higher Education or Northwest Commission on Colleges and Universities. These organizations evaluate schools to ensure they provide students with a high-quality education. Those who attend a school that isn’t regionally accredited may be unable to access financial aid or transfer credits to another institution if needed.
Here are some valuable questions to ask when researching schools:
- How do students interact with classmates and faculty?
- Who are the faculty members, and what are their qualifications?
- Are there any experiential learning components, like internships?
- What networking opportunities are available to online students?
- What support services does the school provide to online students?
To learn more about any schools that you’re interested in, you can visit the school’s website, contact an admissions counselor, follow the school on social media, or attend an in-person or virtual open house.
Prepare for tests and applications
Carefully review the school’s admissions processes, and check with an admissions counselor if you have any questions. Application procedures and requirements vary among schools, so it might be helpful to create a spreadsheet or checklist to keep track of submissions, especially if you’re applying to multiple schools.
A standard application for an online bachelor’s in economics consists of:
- Completed application and required fees
- Official high school transcript showing proof of graduation or a GED
- Letters of recommendation from teachers, employers, and mentors who can speak to your academic potential
- An essay or personal statement
- A resume or CV
Some schools still require SAT or ACT scores. However, schools are increasingly implementing test-optional policies. Students should also check if there are specific requirements such as a minimum high school GPA.
Students who have previous college credits from another institution should also submit their transcript from that school, so their credits can be applied to their new degree program.
Select your program
Review the program’s curriculum, faculty, and course delivery methods to find the ones that best meet your needs. For some students, there may be only one or two schools that fit their parameters. Other students apply to several schools to increase their admissions chances. There’s no right or wrong number of schools to apply to, but students should keep in mind that most schools charge application fees, which can quickly add up.
Before making your final decision, review your needs and goals again. Do you plan to attend school full-time or part-time? Do you want your program to be as online as possible, or are you fine with a hybrid program that has a fair amount of in-person requirements? Some programs offer asynchronous courses, which can be completed at your own pace, while others only offer synchronous courses, which involve remotely attending lectures and completing assignments at the same time as other students — which of these two online learning formats do you prefer? Your school should accommodate your scheduling needs and learning preferences.
Determine how you’ll pay for your degree
Begin planning early by contacting the school’s financial aid office and getting clarity on the program’s total cost and financial aid options.
Most students will want to complete the Free Application for Federal Student Aid (FAFSA), which schools use to determine students’ eligibility for need-based financial aid like student loans, grants, work-study, scholarships, and assistantships. Many schools and external organizations offer merit-based aid for high-achieving students, including scholarships, grants, and fellowships.
Students working while earning their degree can inquire about employer tuition assistance benefits. Veterans or active-duty military members should explore tuition discounts and GI Bill benefits. It’s also common for schools to offer payment plans so students can pay tuition in installments.
The Top 50 Online Bachelor’s in Economics Programs
Discover More Options
How We Rank Schools
This list focuses on undergraduate programs offering bachelor’s degrees in economics or a related field. All programs are available at nonprofit, accredited institutions, either public or private, with high quality standards for postsecondary education. We reviewed fully online programs and online/in-person hybrid programs.
We evaluated each degree program on factors like admission, retention, and graduation rates as well as tuition costs, faculty, reputation, and student resources. We then calculated the Intelligent Score on a scale of 0 to 100. Read more about our ranking methodology.
We also compared our picks to a list of aggregated college rankings from reputable publications like U.S. News & World Report to simplify a student’s college search. We pored through these rankings so students don’t have to.
What Can You Expect from an Online Bachelor’s in Economics Degree Program?
Most bachelor’s in economics programs require 120 credits, with a curriculum that covers basic to advanced economic skills and concepts.
Students learn how to analyze economic patterns and changes and understand market and consumer behavior to help organizations assess risk and opportunities. They also develop transferable skills like analysis, communication, and critical thinking.
Internships or other experiential learning requirements are common in this degree program. Programs might also feature a capstone project, in which students demonstrate the theoretical and practical knowledge they gained in the program with a comprehensive project.
Potential courses you’ll take in an online bachelor’s in economics degree program
- Survey of International Economics. Students study international trade issues, monetary topics, and theory. Topics encompass currency issues and global economic policies.
- Public Economics. Students learn about the role of government in the economy, including the benefits of government policy.
- Banking and Financial Economics. This course focuses on basic economic theory and the practices of financial institutions. Students will discuss economic outlook changes or policies that influence the world’s economy.
- Applied Regression Economics and Forecasting. This class focuses on how institutions and businesses use statistical modeling. Students will study how to predict future economic outcomes.
- Economic Statistics. Estimation, sampling, probability distribution, and confidence intervals are covered. Learners explore the practical application of statistical methods to today’s economic trends.
What Can I Do With an Online Economics Degree?
Career outlook
A bachelor’s degree in economics prepares students for entry- and mid-level jobs focusing on collecting and analyzing data, especially related to finances. These skills are in demand in a number of sectors, including government and public policy, finance, business, and healthcare. Some common jobs for individuals with bachelor’s degrees in economics are actuary, budget analyst, and financial analyst.
Another option is to pursue a master’s degree in economics, such as a Master of Science (MS) or Master of Business Administration (MBA). These advanced degrees help students sharpen their skills so that they can tackle high-level research and analysis and are a common requirement for economist jobs. Depending on the program, students may be able to pursue their master’s immediately after earning their bachelor’s.
Students interested in analyzing financial information should also consider online master’s in accounting programs, as this may be a better fit for your personal interests and career goals.
Some of the most common jobs for workers with these degrees include:
- Economist — Research economic issues related to education, the labor force, international trade, and other topics by collecting and analyzing data. Advise businesses, governments, and individuals based on this research and analysis.
- Median annual salary: $115,730
- Projected employment growth (through 2032): 6%
- New jobs projected: 1,200 per year
- Budget analyst — Help public and private organizations plan their finances by preparing budget reports and monitoring organizational spending.
- Median annual salary: $84,940
- Projected employment growth (through 2032): 3%
- New jobs projected: 3,600 per year
- Actuary — Use mathematics, statistics, and financial theory to assess the risk of potential events and help businesses and clients develop policies that minimize the cost of that risk.
- Median annual salary: $120,000
- Projected employment growth (through 2032): 23%
- New jobs projected: 2,300 per year
Online Bachelor’s in Economics Degree Frequently Asked Questions
How do I apply to an online bachelor’s in economics degree program?
Speak to an admissions counselor for the most accurate information about how to apply to a specific online bachelor’s in economics program.
In general, students complete an online application and submit supplemental materials through a school’s online application portal. Undergraduate students may submit the Common Application, which facilitates applications to multiple schools. To be considered official, transcripts and test scores usually have to be sent directly from the school or testing agency, respectively.
Letters of recommendation should come from teachers, employers, or colleagues who can speak to your academic and professional abilities and skills, especially as they relate to this field. Give yourself sufficient time to craft a well-written personal essay and ask a trusted teacher, counselor, or friend to review it before submitting.
How much does an online bachelor’s in economics degree program cost?
Contact schools directly and speak to a financial aid counselor about tuition, fees, and financial aid for the most accurate answer.
Costs vary from school to school, but the average undergraduate tuition at public universities is $7,998 per year. In contrast, private universities charge, on average, $34,923. Also, most schools will charge students additional fees beyond tuition for things like virtual classroom technology, library resources, labs, and more.
How long does it take to earn an online bachelor’s in economics degree?
Most online bachelor’s in economics programs are designed to be completed with four years of full-time study. Part-time students may take longer to complete the program. Students who want to finish their degree faster can inquire about accelerated programs that allow students to take a higher credit load each term. Additionally, students who have an associate degree or other previously earned college credits can transfer credits to a new program, cutting down on program completion time.
Is an online economics degree worth it?
An economics degree equips students with an array of in-demand skills, including analytical and critical thinking, research experience, and an understanding of complex financial and economic concepts. The employment outlook for many common career paths for this degree, including economists and actuaries, are expected to grow at a faster-than-average pace in the coming decades.
This degree can also lead to higher-than-average salaries. Economists earn a median annual wage of $115,730, well above the overall median wage, which is $48,060. For economists working in scientific research and development, the median annual wage is $140,940. For those working in the federal government, the median annual wage is $135,200.
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