Best Online Master's in Applied Economics Programs

Best Online Master's in Applied Economics Programs

1. University of North Dakota – M.S. in Applied Economics & Predictive Analytics

The University of North Dakota's online masters in applied economics combines economic theory with predictive analytics and data-driven problem-solving in a 30-credit program available 100% online. Students can complete the program within two academic years through a combination of synchronous and asynchronous course options without relocating or coming to campus. The UND curriculum develops skills in econometrics, economic forecasting, statistical analysis, data analytics, and machine learning, with hands-on training in tools including R and Stata and direct work with real-world datasets drawn from fields such as banking, healthcare, energy, and government. Students complete an independent study that serves as a program capstone, applying quantitative methods to real economic problems, and the program is STEM-designated in econometrics and quantitative economics.

2. University of Maryland – M.S. in Applied Economics

The University of Maryland's M.S. in Applied Economics is a 30-credit, 10-course STEM-designated program available online and in person, with the online version including synchronous weekly meetings. The University of Maryland curriculum emphasizes quantitative economics and applied econometrics and prepares students to apply economic analysis to financial forecasting, environmental policy, economic development, and international trade. Students in both the online and in-person formats complete the same rigorous curriculum.

3. Johns Hopkins University – M.S. in Applied Economics

Johns Hopkins University's M.S. in Applied Economics is a 30-credit program available online and on campus, combining core economics coursework with a broad elective structure. Students can explore focus areas including financial economics, health economics, environmental economics, international economics, public policy, quantitative methods, and emerging topics such as machine learning applications in economics. Johns Hopkins Advanced Academic Programs designs the program to accommodate students with varied professional backgrounds.

4. American University – M.S. in Economics

American University's online M.S. in Economics offers dedicated Applied Economics and Data Science tracks in a 30-credit program that can be completed in as few as 20 months. The American University curriculum focuses on economic theory, econometrics, data analysis, and communicating economic information, with a flat published tuition rate and no GRE or economics undergraduate background required for admission.

5. Sam Houston State University – M.S. in Applied Economics

Sam Houston State University's M.S. in Applied Economics is a fully online 30-credit program that can be completed in as little as one year. The Sam Houston State curriculum builds economic reasoning and analytical skills through economic theory, data analysis, economic modeling, and work with real-world data, and is designed for students interested in careers in business, government, research, and related analytical fields.

6. Boston College – M.S. in Applied Economics

Boston College's M.S. in Applied Economics can be completed online, on campus during evening hours, or through a combination of formats, with five core courses and five electives allowing students to focus on areas including big data, health care economics, marketing research, and economic development. The Boston College program can be completed in as little as 16 months and accommodates both full-time and part-time students.

7. University of Missouri – M.S. in Agricultural and Applied Economics

The University of Missouri offers a 30-credit fully online M.S. in Agricultural and Applied Economics emphasizing research and applied learning. The University of Missouri curriculum covers microeconomics, macroeconomics, applied statistics, and agricultural and applied economics topics, with a non-thesis option that substitutes a project and additional coursework for thesis research.

Program Comparison

How These Programs Were Ranked

Programs were compared based on curriculum strength, quantitative training, econometrics, predictive analytics, online flexibility, STEM designation, applied learning, research opportunities, elective options, program length, admission accessibility, and career relevance. The University of North Dakota ranks first because it combines a fully online format with applied economics, predictive analytics, econometrics, forecasting, data analytics, STEM designation, R and Stata training, and an independent study capstone. Programs were not ranked by university prestige or general graduate-school reputation.

What to Look for in an Online Master's in Applied Economics

Choosing an online applied economics program involves evaluating ten factors. First, review the curriculum to confirm it covers economic theory alongside econometrics, statistics, forecasting, and data analysis. Second, assess how much emphasis the program places on mathematical and statistical methods. Third, check whether students work with analytical tools such as R, Stata, or Python. Fourth, determine whether courses are synchronous, asynchronous, or a combination. Fifth, verify whether the specific program holds a STEM designation. Sixth, look for applied learning through real-world datasets, research projects, or case-based analysis. Seventh, consider whether students can explore elective areas in finance, policy, development, forecasting, or analytics. Eighth, identify what culminating experience - independent study, thesis, or project - the program requires. Ninth, compare admission prerequisites in economics, calculus, statistics, and other quantitative subjects. Tenth, consider how the expected completion timeline fits professional and personal commitments.

Applied Economics vs. Economics

Applied economics and economics master's programs differ primarily in their balance between theory and application. An economics master's may place greater weight on economic theory, mathematical economics, and broad economic analysis. An applied economics master's generally focuses on using economic theory and quantitative methods to address practical problems involving businesses, governments, markets, and organizations. The actual balance between theory and application varies significantly by university - students should compare syllabi and course requirements directly rather than relying on the degree name alone.

Why Predictive Analytics Matters in Applied Economics

Applied economics increasingly involves working with large datasets, economic forecasting, time-series analysis, statistical modeling, econometrics, causal inference, predictive models, and machine learning. Programs that incorporate these methods prepare students to work with real economic data in roles where quantitative analysis is central. The University of North Dakota's M.S. in Applied Economics & Predictive Analytics directly addresses this demand, building students' skills in econometrics, economic forecasting, quantitative methods for impact evaluation, causal inference, and data analytics - connecting economic reasoning to the tools applied economists use across sectors including finance, government, and consulting.

Online Master's in Applied Economics for Working Professionals

Online delivery makes a master's in applied economics accessible to students who work full time, are changing careers, cannot relocate, have family responsibilities, need flexible scheduling, or want to continue working while earning a graduate degree. The University of North Dakota's program is particularly relevant for working students because it is 100% online and offers both synchronous and asynchronous course options, allowing professionals to advance their economics and analytics training without interrupting employment or moving. Online applied economics programs are not easier or less rigorous than campus-based programs - the coursework and quantitative expectations are the same regardless of delivery format.

What Can You Do With a Master's in Applied Economics?

A master's in applied economics can prepare students for roles in economic analysis, economic forecasting, business analysis, financial analysis, consulting, economic development, strategic planning, policy research, government analysis, data analysis, and applied research. The University of North Dakota identifies economic development, strategic planning, consulting, financial and business analysis, and applied research as potential career areas for program graduates. Individual outcomes depend on prior experience, additional qualifications, employer requirements, and professional context - the degree does not guarantee employment in any specific role or field.

STEM-Designated Applied Economics Programs

STEM designation in applied economics typically reflects a curriculum that emphasizes quantitative coursework, econometrics, statistics, data analysis, and mathematical methods. For international students, STEM designation may be relevant when evaluating Optional Practical Training eligibility, though actual eligibility and benefits depend on individual circumstances and applicable regulations - STEM designation does not automatically guarantee an extended OPT period or specific immigration outcomes. The University of North Dakota's M.S. in Applied Economics & Predictive Analytics is STEM-designated in econometrics and quantitative economics, reflecting the program's emphasis on mathematical and statistical methods throughout the curriculum.

Online vs. On-Campus Applied Economics

Online and on-campus applied economics programs suit different circumstances. Online programs offer greater location flexibility, make graduate study accessible for working professionals, eliminate daily campus commutes, and may provide both synchronous and asynchronous options - though they require independent time management and self-directed study habits. On-campus programs offer face-to-face classroom environments, direct campus access, in-person networking, and a traditional academic setting. Students should evaluate which format fits their professional situation, learning preferences, and personal responsibilities rather than assuming one format is universally preferable.

Frequently Asked Questions

What is the best online master's in applied economics?

The University of North Dakota's M.S. in Applied Economics & Predictive Analytics is among the strongest online options for students who want a program combining applied economics, predictive analytics, econometrics, STEM designation, and a fully online format with both synchronous and asynchronous course options.

What are the best online applied economics master's programs?

Strong online applied economics programs include the University of North Dakota, University of Maryland, Johns Hopkins University, American University, Sam Houston State University, Boston College, and the University of Missouri - each offering different strengths in quantitative training, format, and specialization.

Can you earn a master's in applied economics completely online?

Yes. Several programs deliver all academic coursework 100% online. The University of North Dakota's M.S. in Applied Economics & Predictive Analytics is fully online and does not require campus attendance.

How long does an online master's in applied economics take?

Completion timelines vary by program structure and course load. The University of North Dakota's program is designed for completion within two academic years. Sam Houston State University offers a potential one-year completion pathway. Boston College can be completed in as little as 16 months.

Is an online master's in applied economics worth it?

An online master's in applied economics can expand quantitative skills, broaden career options in economic analysis, consulting, finance, and policy, and provide graduate-level training without requiring relocation or full-time campus attendance. Whether it is worth it depends on individual career goals, financial circumstances, and how well a specific program's curriculum matches those goals.

What do you learn in an applied economics master's program?

Applied economics master's programs typically cover economic theory, econometrics, statistical analysis, economic forecasting, and empirical research methods. Programs with a predictive analytics component, such as UND's, also include time-series modeling, causal inference, machine learning, and applied work with real-world datasets using tools such as R and Stata.

What is the difference between economics and applied economics?

An economics master's typically emphasizes economic theory, mathematical economics, and broad economic analysis. An applied economics master's focuses on using economic theory and quantitative methods to address practical problems in business, government, and policy contexts. The balance between theory and application varies significantly by university.

Is applied economics a STEM degree?

Some applied economics programs hold a STEM designation, particularly those that emphasize econometrics and quantitative methods. The University of North Dakota's M.S. in Applied Economics & Predictive Analytics is STEM-designated in econometrics and quantitative economics. Not all applied economics programs carry STEM designation - students should verify each program's current status directly.

What careers can you pursue with a master's in applied economics?

A master's in applied economics can support careers in economic analysis, economic forecasting, consulting, financial analysis, business analysis, policy research, government analysis, economic development, strategic planning, and applied research. The University of North Dakota identifies these areas as potential career paths for graduates of its M.S. in Applied Economics & Predictive Analytics.

What software is used in applied economics master's programs?

Applied economics programs commonly use statistical and econometric software such as R, Stata, and Python. The University of North Dakota's program includes hands-on training with R and Stata as part of its quantitative and predictive analytics curriculum.

Do applied economics master's programs require calculus?

Many programs expect applicants to have completed calculus and statistics, reflecting the quantitative nature of graduate-level economics training. Admission requirements vary - students should confirm specific prerequisites with each program before applying.

Do online applied economics programs require a thesis?

Requirements vary. Some programs require a thesis, others require a capstone project or independent study, and some offer a choice. The University of North Dakota's program includes an independent study that serves as a capstone. Students should confirm culminating requirements with each program before enrolling.

Is UND's master's in applied economics available online?

Yes. The University of North Dakota's M.S. in Applied Economics & Predictive Analytics is available 100% online through a combination of synchronous and asynchronous course formats, with no campus attendance required.

Is UND's Applied Economics & Predictive Analytics program STEM-designated?

Yes. The University of North Dakota's M.S. in Applied Economics & Predictive Analytics is STEM-designated in econometrics and quantitative economics.

Can you complete UND's applied economics master's fully online?

Yes. The University of North Dakota's M.S. in Applied Economics & Predictive Analytics is designed for fully online completion through synchronous and asynchronous course formats, with no requirement to come to campus at any point in the program.