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Managerial Economics Major

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Managerial Economics

214 Master's Degrees Annually
49 Doctor's Degrees Annually
#203 in Popularity (Master's)
$116,020 Median Salary

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
Master’s Degree 214
Doctor’s Degree 49
Graduate Certificate 4

What Managerial Economics Majors Need to Know

People with careers related to managerial economics were asked what knowledge areas, skills, and abilities were important for their jobs. They weighted these areas on a scale of 1 to 5 with 5 being the highest.

Knowledge Areas for Managerial Economics Majors

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

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  • 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

When studying managerial economics, you’ll learn many skills that will help you be successful in a wide range of jobs - even those that do not require a degree in the field. The following is a list of some of the most common skills needed for careers associated with this major:

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  • 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 you progress with your managerial economics degree, there are several abilities you should pick up that will help you in whatever related career you choose. These abilities include:

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  • 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?

Below is a list of occupations associated with managerial economics:

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?

214 Master's Degrees Annually
39% Percent Women
29% Percent Racial-Ethnic Minorities
This major tends to be male dominated. About 61% of recent graduates are men.

Racial-Ethnic Diversity

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

Racial-Ethnic Diversity of Managerial Economics Students with Master's Degrees
Race/Ethnicity Number of Grads
Asian 10
Black or African American 28
Hispanic or Latino 17
White 94
International Students 54
Other Races/Ethnicities 11

Geographic Diversity

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:

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

How Much Do Managerial Economics Majors Make?

Master’s Degree Starting Salary

According to 2017-2018 data from the U.S. Department of Education, students who graduated with a master’s degree in managerial economics have a median salary of $54,900 during the early years of their career. During this timeframe, most salaries fell between $54,900 (25th percentile) and $54,900 (75th percentile).

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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

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.

Median Salary for a Managerial Economics Major  ( 63240 to 117180 )
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Median Salary for a High School Graduate  ( 30000 to 57900 )
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Median Salary for a Bachelor's Degree Holder  ( 45600 to 99000 )
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Median Salary for an Advanced Degree Holder  ( 55600 to 125400 )
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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.

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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 2018-2019, 267 schools offered a managerial economics program of some type. 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
Associate’s Degree 2 0
Bachelor’s Degree 4 0
Post-Baccalaureate 2 0
Master’s Degree 37 1
Post-Master’s 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!

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You may also be interested in one of the following majors related to managerial economics.

Major Number of Grads
Business Administration & Management 410,147
Accounting 105,123
General Business/Commerce 58,451
Finance & Financial Management 56,186
Marketing 51,241
Human Resource Management 26,823
Management Sciences & Quantitative Methods 23,738
Business Support & Assistant Services 19,483
Hospitality Management 19,042
Management Information Systems 14,747
Entrepreneurial Studies 10,427
International Business 10,181
Specialized Sales, Merchandising & Marketing 5,873
Other Business, Management & Marketing 5,834
General Sales & Marketing 5,734
Real Estate 5,700
Construction Management 3,664
Insurance 2,218
Taxation 1,783
Business/Corporate Communications 968
Telecommunications Management 71

References

More about our data sources and methodologies.

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