2021 Business/Managerial Economics Degree Guide
Whether or not your realize it, your lifestyle is determined by the market, whether that is the price of gas, or the cost of a new home or the wages you receive for your work. Everyone is involved in economic activity in some way or another. A business needs to be aware of the economics of the market in order to effectively sell their product. Some examples would be how many individuals they can afford to hire, or how selling inventory will affect the businesses bottom-line.
Majoring in Business and Managerial Economics educates students in how to use economic principles to analysis the organization and operation of business enterprises. Students take a mix of business and economic courses, such as Accounting, Financial marketing, Economics of regulation, Business policy and strategic management, and Econometrics. This major is commonly offered as a Bachelor's degree, however can be taken at an Associate's level.
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Business/Managerial Economics Degrees Decreasing
In 2018-2019, business/managerial economics was the 110th most popular major nationwide with 6,345 degrees awarded. This represents a 6.0% reduction in managerial economics degrees awarded over the prior year's total of -6,727.
The United States has 210 different schools where you can get a degree in business/managerial economics. Our 2021 Best Colleges for Business/Managerial Economics ranking analyzes 51 of these schools to determine the best overall colleges for business/managerial economics students. Continue reading to check out one of our many unbiased rankings of managerial economics programs later in this article.
Requirements for Getting a Degree in Business/Managerial Economics
Students should be prepared for the advanced math classes involved in this major. You will also be aided by an analytical and creative mind when solving difficult problems or coming up with new theories. There is an emphasis of group work in many of the classes you will be taking. Students will need to work on their people skills and time management. In order to prepare for this major, students are advised to take course in Macroeconomics, Statistics, Business, Calculus, and Computer applications.
Prior Education for a Managerial Economics Program
A high school diploma or equivalent is typically required for most managerial economics degree programs and many students will need a minimum GPA and SAT/ACT score depending on the school. Specific managerial economics careers may require a certain level of degree attainment or additional certifications beyond that.
Business/Managerial Economics Degree Types
There are many different managerial economics degree levels. You can spend many years getting as high as a research / scholarship based doctorate's in business/managerial economics to something that takes less time like a associate's. How long it takes to complete some common managerial economics degree levels is shown below.
| Degree | Credit Requirements | Typical Program Length |
|---|---|---|
| Associate Degree | 60-70 credits | 2 years |
| Bachelor’s Degree | 120 credits | 4 years |
| Master’s Degree | 50-70 credits | 1-3 years |
| Doctorate | Program required coursework including thesis or dissertation | At least 4 years |
A doctor's degree (research / scholarship) is the most common level of education achieved by those in careers related to managerial economics, with approximately 50.7% of workers getting one. See the the most common levels of education for managerial economics workers below.
| Level of Education | Percentage of Workers |
|---|---|
| Doctoral Degree | 52.3% |
| Master’s Degree | 26.1% |
| Bachelor’s Degree | 13.6% |
| Post-Master’s Certificate | 5.5% |
| Post-Doctoral Training | 2.0% |
52.9% of managerial economics workers have at least a research/scholarship based doctorate. See the chart below for the most common degree level workers in business/managerial economics have received.
This of course varies depending on which managerial economics career you choose.
Career Opportunities for Managerial Economics Majors
Graduates of Business and Managerial Economics find themselves in several different career fields. These include Financial Mangers, Financial Analysts, Management Consultants, Top Executives, and Economists. All of these careers handle company's success in terms of profitability and growth. Financial Analysts analyze businesses and provide strategies to help them reach their financial goals. Economists analyze the factors that influence the market and study the selling and buying of products and services within the company.
Growth Projected for Managerial Economics Careers
Want a job when you graduate with your managerial economics degree? Business/Managerial Economics careers are expected to grow 6.5% between 2016 and 2026.
The following options are some of the most in-demand careers related to business/managerial economics.
| Occupation Name | Projected Jobs | Expected Growth |
|---|---|---|
| Economists | 22,600 | 6.1% |
| Economics Professors | 18,300 | 10.9% |
| Survey Researchers | 14,900 | 2.1% |
How Much Money Do Managerial Economics Grads Make?
Business/Managerial Economics graduates between 2015-2017 reported earning an average of $46,084 in the 2017-2018 timeframe. Earnings can range from as low as $30,200 to as high as $83,000. As you might expect, salaries for managerial economics graduates vary depending on the level of education that was acquired.
High Paying Careers for Managerial Economics Majors
Salaries for business/managerial economics graduates can vary widely by the occupation you choose as well. The following table shows the top 5 highest paying careers managerial economics grads often go into.
| Occupation Name | Median Average Salary |
|---|---|
| Economics Professors | $117,180 |
| Economists | $116,020 |
| Survey Researchers | $63,240 |
Getting Your Business/Managerial Economics Degree
With over 427 different managerial economics degree programs to choose from, finding the best fit for you can be a challenge. Fortunately you have come to the right place. We have analyzed all of these schools to come up with hundreds of unbiased managerial economics school rankings to help you with this.
Top Ranking Lists for Business/Managerial Economics
Majors Related to Managerial Economics
One of 21 majors within the Business, Management & Marketing area of study, Business/Managerial Economics has other similar majors worth exploring.
Most Popular Majors Related to Managerial Economics
| Related Major | Annual Graduates |
|---|---|
| Business Administration & Management | 410,147 |
| Accounting | 105,123 |
| General Business/Commerce | 58,451 |
| Finance & Financial Management | 56,186 |
| Marketing | 51,241 |
View All Managerial Economics Related Majors >
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