by our College Data Analytics TeamWhether 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.
In 2020-2021, business/managerial economics was the 119th most popular major nationwide with 5,667 degrees awarded. This 502 less than the prior year, a decrease of 8.9%.
Our 2023 Best Business/Managerial Economics Schools ranking analyzes 185 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.
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.
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. Once you obtain your degree, additional managerial economics certifications required to pursue a career in this field.
There are various different levels of managerial economics degrees. Business/Managerial Economics programs offered by schools range from a to a , which is the highest managerial economics degree you can get. Business/Managerial Economics programs can take anywhere between one to four or more years for a full-time student to complete.
| 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 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 doctorate. View the chart below to get an idea of what degree level most of those in business/managerial economics careers have.
The education level required is different depending on the managerial economics career you are seeking.
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.
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% |
Business/Managerial Economics graduates between 2017-2019 reported earning an average of $47,707 in the 2019-2020 timeframe. Earnings can range from as low as $21,539 to as high as $116,870. As you might expect, salaries for managerial economics graduates vary depending on the level of education that was acquired.
Salaries for business/managerial economics graduates can vary widely by the occupation you choose as well. The following table shows the top 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 |
With over 417 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.
Business/Managerial Economics is one of 21 different types of Business, Management & Marketing programs to choose from.
| Related Major | Annual Graduates |
|---|---|
| Business Administration & Management | 416,590 |
| Accounting | 99,265 |
| Finance & Financial Management | 57,778 |
| General Business/Commerce | 56,042 |
| Marketing | 52,916 |
