Managerial Economics

Types of Degrees Managerial Economics Majors Are Getting

The following table lists how many business/managerial economics graduations there were in 2020-2021 for each degree level.

Education Level	Number of Grads
Master’s Degree	105
Doctor’s Degree	38
Graduate Certificate	19

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

Managerial Economics majors often go into careers in which the following knowledge areas are important:

• 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
Economics Professors	10.9%	$101,480
Economists	6.1%	$104,340
Environmental Economists	6.1%	$104,340
Survey Researchers	2.1%	$57,700

Who Is Getting a Master’s Degree in Managerial Economics?

Roughly 48% of the graduates are women, and 52% are men.

Racial-Ethnic Diversity

At the countrywide level, the racial-ethnic distribution of managerial economics majors is as follows:

Race/Ethnicity	Number of Grads
Asian	6
Black or African American	20
Hispanic or Latino	9
White	44
International Students	20
Other Races/Ethnicities	6

Geographic Diversity

Managerial Economics appeals to people across the globe. About 19.0% of those with this major are international students. The most popular countries for students from outside the country are:

• China
• South Korea
• India
• Hong Kong
• Vietnam

How Much Do Managerial Economics Majors Make?

Master’s Degree Starting Salary

According to 2019-2020 data from the U.S. Department of Education, students who graduated with a master’s degree in managerial economics have a median salary of $81,206 during the early years of their career. During this timeframe, most salaries fell between $75,077 (25th percentile) and $99,038 (75th percentile).

It’s important to note that just because the people reporting these salaries have a degree in managerial economics, it does not mean that they are working in a job related to their degree.

Salaries According to BLS

Managerial Economics majors often go into careers where salaries can range from $63,240 to $117,180 (25th to 75th percentile). This range includes all degree levels, so the salary for a person with just a bachelor’s degree may be a little less and the one for a person with an advanced degree may be a little more.

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.

Find out what the typical degree level is for managerial economics careers below.

Education Level	Percentage of Workers
Bachelor’s Degree	13.6%
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%
Master’s Degree	26.1%
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%
Doctoral Degree	52.3%
Post-Doctoral Training	2.0%

Online Managerial Economics Programs

In the 2020-2021 academic year, 264 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)	0	0
Certificate (1-2 years)	3	0
Certificate (2-4 Years)	0	0
Associate’s Degree	2	0
Bachelor’s Degree	6	1
Post-Baccalaureate	0	0
Master’s Degree	35	0
Post-Master’s	2	0
Doctor’s Degree (Research)	15	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!

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	131,555
Management Sciences & Quantitative Methods	31,701
Accounting	19,309
Human Resource Management	12,117
General Business/Commerce	9,137
Finance & Financial Management	5,784
Marketing	4,011
Management Information Systems	2,766
International Business	2,007
Entrepreneurial Studies	1,823
Taxation	1,350
Hospitality Management	1,341
Real Estate	1,280
Other Business, Management & Marketing	1,073
General Sales & Marketing	537
Construction Management	466
Specialized Sales, Merchandising & Marketing	180
Insurance	143
Business/Corporate Communications	117
Telecommunications Management	23

References

*The racial-ethnic minorities count is calculated by taking the total number of students and subtracting white students, international students, and students whose race/ethnicity was unknown. This number is then divided by the total number of students at the school to obtain the racial-ethnic minorities percentage.

• 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.