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2020 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.

Business/Managerial Economics Degrees On The Rise

#129 Most Popular Major
6.7k Degrees Awarded
1.7% Increase in Graduates

In 2017-2018, business/managerial economics was the 129th most popular major nationwide with 6,727 degrees awarded. This is a difference of 115 over the prior year, a growth of 1.7%.

Approximately 209 colleges in the U.S. offer a business/managerial economics degree of some kind. This year's Best Colleges for Business/Managerial Economics ranking compares 112 of them to identify the best overall programs in the country. 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.

Types of Business/Managerial Economics Degree

There are various different levels of managerial economics degrees. 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 first year certificate. 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.

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This of course varies depending on which managerial economics career you choose.

Career Opportunities for Managerial Economics Majors

Below Average Number of Jobs
$46.1k Average Starting Salary
6% Growth Job Outlook 2016-26

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.

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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 424 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.

One of 21 majors within the Business, Management & Marketing area of study, Business/Managerial Economics has other similar majors worth exploring.

Related Major Annual Graduates
Business Administration & Management 399,810
Accounting 107,851
General Business/Commerce 58,413
Finance & Financial Management 56,960
Marketing 49,179

View All Managerial Economics Related Majors >

References

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