Master's degree programs in international commerce and policy focus on the economic and political aspects of business between nations. While many schools offer graduate classes in international commerce and policy, there are few that offer full master's degree programs in the field. An alternative option is a master's degree in international commerce with a concentration in diplomacy. Other program specializations include global politics, macroeconomics, and global trade relations. Students can expect to spend 12 to 18 months earning the degree. Some programs may offer internships and opportunities to study abroad. In order to apply, students must hold a bachelor's degree, possibly with specific coursework in macroeconomics and microeconomics.
International Commerce and Policy Master's Degree
The curriculum typically involves advanced studies in politics, economics, trade, and business. In addition to lecture-based coursework, there may also be opportunities for students to participate in hands-on internships or study abroad programs. At some schools, courses may be taught by professionals from the U.S. Department of State or the Federal Reserve. Most programs require 37-42 credits for graduation. Here are some possible course titles:
- Macroeconomics and investments
- International policy analysis methods
- International issues of the World Bank
- Global political economics
- Cultural influences on world economics
- Cross-cultural management
Careers in international commerce and policy can be in private businesses or public service. Graduates from master's degree programs can are prepared for jobs in organizations involved in development, investment, trade or governance. Possible occupations include:
- Corporate planning
- Foreign Service economics officer
- Global marketing
- Private international entrepreneur
Employment Outlook and Salary Information
Earning a master's degree in international commerce and policy could lead to work as an economist. The median salary for these professionals was $104,340 as of 2018, according to the U.S. Bureau of Labor Statistics (BLS). Employment opportunities for economists were expected to grow 8% between 2018 and 2028.
Professionals in international commerce and policy use formal and informal continuing education to keep their knowledge and skills up to date as economic conditions change and global trade and financial instruments grow more complex. They must also keep track of new laws and regulations. Continuing education options include postgraduate courses and professional development workshops.
In summary, a master's degree can provide students with the advanced political and business training they need for careers related to international commerce and policy.