Types of Degrees Managerial Economics Majors Are Getting
The following table lists how many business/managerial economics graduations there were in 2018-2019 for each degree level.
|Education Level||Number of Grads|
What Managerial Economics Majors Need to Know
O*NET surveyed people in occupations related to managerial economics and asked them what knowledge areas, skills, and abilities were important for their jobs. The responses were rated on a scale of 1 to 5 with 5 being most important.
Knowledge Areas for Managerial Economics Majors
According to O*NET survey takers, a major in managerial economics should prepare you for careers in which you will need to be knowledgeable in the following areas:
- Mathematics - Knowledge of arithmetic, algebra, geometry, calculus, statistics, and their applications.
- English Language - Knowledge of the structure and content of the English language including the meaning and spelling of words, rules of composition, and grammar.
- Economics and Accounting - Knowledge of economic and accounting principles and practices, the financial markets, banking and the analysis and reporting of financial data.
- Education and Training - Knowledge of principles and methods for curriculum and training design, teaching and instruction for individuals and groups, and the measurement of training effects.
- Computers and Electronics - Knowledge of circuit boards, processors, chips, electronic equipment, and computer hardware and software, including applications and programming.
Skills for Managerial Economics Majors
The following list of skills has been highlighted as some of the most essential for careers related to managerial economics:
- Reading Comprehension - Understanding written sentences and paragraphs in work related documents.
- Critical Thinking - Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems.
- Writing - Communicating effectively in writing as appropriate for the needs of the audience.
- Active Listening - Giving full attention to what other people are saying, taking time to understand the points being made, asking questions as appropriate, and not interrupting at inappropriate times.
- Speaking - Talking to others to convey information effectively.
Abilities for Managerial Economics Majors
As a managerial economics major, you will find yourself needing the following abilities:
- Written Comprehension - The ability to read and understand information and ideas presented in writing.
- Written Expression - The ability to communicate information and ideas in writing so others will understand.
- Oral Expression - The ability to communicate information and ideas in speaking so others will understand.
- Inductive Reasoning - The ability to combine pieces of information to form general rules or conclusions (includes finding a relationship among seemingly unrelated events).
- Deductive Reasoning - The ability to apply general rules to specific problems to produce answers that make sense.
What Can You Do With a Managerial Economics Major?
People with a managerial economics degree often go into the following careers:
|Job Title||Job Growth Rate||Median Salary|
Who Is Getting a Master’s Degree in Managerial Economics?
At the countrywide level, the racial-ethnic distribution of managerial economics majors is as follows:
|Race/Ethnicity||Number of Grads|
|Black or African American||28|
|Hispanic or Latino||17|
Americans aren’t the only ones with an interest in Managerial Economics. About 25.2% of those with this major are international students. The most popular countries for students from outside the country are:
- South Korea
- Hong Kong
How Much Do Managerial Economics Majors Make?
Master’s Degree Starting Salary
The median starting salary of students who graduated in 2015-2017 with a master’s degree in managerial economics was $54,900 per year. These stats come from the U.S. Department of Education. During this timeframe, most salaries fell between $54,900 (25th percentile) and $54,900 (75th percentile).
We don’t know for sure if all of these people took jobs related to managerial economics so take that into consideration.
Salaries According to BLS
Average salaries range from $63,240 to $117,180 (25th to 75th percentile) for careers related to managerial economics. This range includes all degree levels, so you may expect those with a more advanced degree to make more while those with less advanced degrees will typically make less.
To put that into context, according to BLS data from the first quarter of 2020, the typical high school graduate makes between $30,000 and $57,900 a year (25th through 75th percentile). The average person with a bachelor’s degree (any field) makes between $45,600 and $99,000. Advanced degree holders make the most with salaries between $55,600 and $125,400.
Amount of Education Required for Careers Related to Managerial Economics
Some degrees associated with managerial economics may require an advanced degree, while others may not even require a bachelor’s in the field. In general, the more advanced your degree the more career options will open up to you. However, there is significant time and money that needs to be invested into your education so weigh the pros and cons.
How much schooling do you really need to compete in today’s job market? People currently working in careers related to managerial economics have obtained the following education levels.
|Education Level||Percentage of Workers|
|Post-Baccalaureate Certificate - awarded for completion of an organized program of study; designed for people who have completed a Baccalaureate degree but do not meet the requirements of academic degrees carrying the title of Master.||1.0%|
|Post-Master’s Certificate - awarded for completion of an organized program of study; designed for people who have completed a Master’s degree but do not meet the requirements of academic degrees at the doctoral level.||5.5%|
|First Professional Degree - awarded for completion of a program that: requires at least 2 years of college work before entrance into the program, includes a total of at least 6 academic years of work to complete, and provides all remaining academic requirements to begin practice in a profession.||1.0%|
Online Managerial Economics Programs
In the 2018-2019 academic year, 267 schools offered some type of business/managerial economics program. The following table lists the number of programs by degree level, along with how many schools offered online courses in the field.
|Degree Level||Colleges Offering Programs||Colleges Offering Online Classes|
|Certificate (Less Than 1 Year)||2||0|
|Certificate (1-2 years)||2||0|
|Certificate (2-4 Years)||1||0|
|Doctor’s Degree (Research)||16||0|
|Doctor’s Degree (Professional Practice)||0||0|
|Doctor’s Degree (Other)||0||0|
Is a Degree in Managerial Economics Worth It?
The median salary for a managerial economics grad is $116,020 per year. This is based on the weighted average of the most common careers associated with the major.
This is 191% more than the average salary for an individual holding a high school degree. This adds up to a gain of about $1,522,400 after 20 years!
Explore Major by State
Majors Related to Managerial Economics
You may also be interested in one of the following majors related to managerial economics.
|Major||Number of Grads|
|Business Administration & Management||135,757|
|Management Sciences & Quantitative Methods||14,136|
|Human Resource Management||10,770|
|Finance & Financial Management||6,277|
|Management Information Systems||3,158|
|Other Business, Management & Marketing||1,240|
|General Sales & Marketing||637|
|Specialized Sales, Merchandising & Marketing||221|
|Business Support & Assistant Services||0|
- College Factual
- College Scorecard
- National Center for Education Statistics
- O*NET Online
- U.S. Bureau of Labor Statistics
- Usual Weekly Earnings of Wage and Salary Workers First Quarter 2020
More about our data sources and methodologies.
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