Students interested in global economics master's degree programs most commonly pursue degrees in international economics. International economics master's degree programs provide thorough training in global finance and economic theories, principles and current trends. Students may examine economic theory and analysis in order to deconstruct, evaluate and forecast in the global economy. Issues specific to global economics, such as trade laws and working with developing nations, may also be covered. In order to apply to one of these two-year programs, students must have completed a bachelor's degree, preferably with coursework in microeconomics, macroeconomics, and statistics. Some programs also give admissions preference to applicants with professional experience in the field of global economics.
Master's Degree in International Economics
Over the course of a master's degree program in international economics, students learn about topics such as global monetary institutions and econometric theory, which lay a theoretical framework that graduates may apply to careers in the field or future studies. Common courses include the following:
- Global trade theory
- International macroeconomic analysis
- Advanced financial theory
- International business management
- Economic growth in developing nations
Employment Outlook and Salary Info
This degree program prepares students for business careers abroad or with multinational organizations, including for-profit businesses, non-profits and the government. Some global economists work for U.S.-based companies or federal agencies in either foreign-based offices or for departments that include a global focus. Others work for organizations with a global focus, such as the United Nations and the International Monetary Fund.
According to the U.S. Bureau of Labor Statistics (BLS), economists, including both global economists and those focused on domestic economics, held approximately 21,000 jobs in 2018. Between 2018 and 2028, the BLS reported that job opportunities for economists were expected to grow 8%. The strongest growth was expected in the private sector, where the need for complex global economic analysis is consistently strong. Overall, economists earned a mean annual salary of $116,020 in May 2018. Those working for the U.S. government earned notably more, with an average salary of $123,570.
Continuing Education Information
Graduates may pursue a doctorate degree in global economics. While many global organizations seek applicants with a bachelor's degree for entry-level positions, a master's degree is usually required for more advanced roles, and a Ph.D. is often required for top jobs. A Ph.D. is also required for those interested in academic positions that involve teaching and research at the college level.
Students interested in graduate study in global economics can start by pursuing a master's degree in international economics, which provides interdisciplinary training in political and economic concepts. From there, students can go on to advanced positions or pursue a doctoral degree.