Econometrics and Quantitative Economics

Types of Degrees Econometrics and Quantitative Economics Majors Are Getting

The following table lists how many econometrics & quantitative economics graduations there were for each degree level during the last year for which data was available.

Education Level	Number of Grads
Master’s Degree	4,337
Doctor’s Degree	1,203
Graduate Certificate	80

What Econometrics and Quantitative Economics Majors Need to Know

In an O*NET survey, econometrics and quantitative economics majors were asked to rate what knowledge areas, skills, and abilities were important in their occupations. These answers were weighted on a scale of 1 to 5 with 5 being the most important.

Knowledge Areas for Econometrics and Quantitative Economics Majors

According to O*NET survey takers, a major in econometrics and quantitative economics should prepare you for careers in which you will need to be knowledgeable in the following areas:

• English Language - Knowledge of the structure and content of the English language including the meaning and spelling of words, rules of composition, and grammar.
• Mathematics - Knowledge of arithmetic, algebra, geometry, calculus, statistics, and their applications.
• Economics and Accounting - Knowledge of economic and accounting principles and practices, the financial markets, banking and the analysis and reporting of financial data.
• Law and Government - Knowledge of laws, legal codes, court procedures, precedents, government regulations, executive orders, agency rules, and the democratic political process.
• 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.

Skills for Econometrics and Quantitative Economics Majors

The following list of skills has been highlighted as some of the most essential for careers related to econometrics and quantitative 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.
• 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.
• Writing - Communicating effectively in writing as appropriate for the needs of the audience.
• Speaking - Talking to others to convey information effectively.

Abilities for Econometrics and Quantitative Economics Majors

As a econometrics and quantitative economics major, you will find yourself needing the following abilities:

• Written Comprehension - The ability to read and understand information and ideas presented in writing.
• Oral Expression - The ability to communicate information and ideas in speaking so others will understand.
• Written Expression - The ability to communicate information and ideas in writing so others will understand.
• Deductive Reasoning - The ability to apply general rules to specific problems to produce answers that make sense.
• Oral Comprehension - The ability to listen to and understand information and ideas presented through spoken words and sentences.

What Can You Do With a Econometrics and Quantitative Economics Major?

Below is a list of occupations associated with econometrics and quantitative economics:

Job Title	Job Growth Rate	Median Salary
Compliance Managers	8.0%	$107,480
Economics Professors	10.9%	$101,480
Economists	6.1%	$104,340
Environmental Economists	6.1%	$104,340
Investment Fund Managers	8.0%	$107,480
Regulatory Affairs Managers	8.0%	$107,480

Who Is Getting a Master’s Degree in Econometrics and Quantitative Economics?

This major tends to be male dominated. About 58% of recent graduates are men.

Racial-Ethnic Diversity

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

Race/Ethnicity	Number of Grads
Asian	227
Black or African American	69
Hispanic or Latino	173
White	978
International Students	2,754
Other Races/Ethnicities	136

Geographic Diversity

Students from other countries are interested in Econometrics and Quantitative Economics, too. About 63.5% of those with this major are international students.

Amount of Education Required for Careers Related to Econometrics and Quantitative Economics

Some degrees associated with econometrics and quantitative 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 econometrics and quantitative economics careers below.

Education Level	Percentage of Workers
High School Diploma - or the equivalent (for example, GED)	1.4%
Post-Secondary Certificate - awarded for training completed after high school (for example, in agriculture or natural resources, computer services, personal or culinary services, engineering technologies, healthcare, construction trades, mechanic and repair technologies, or precision production)	1.1%
Some College Courses	0.2%
Associate’s Degree (or other 2-year degree)	1.5%
Bachelor’s Degree	30.6%
Master’s Degree	26.2%
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.	3.9%
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.	1.7%
Doctoral Degree	33.2%
Post-Doctoral Training	0.7%

Online Econometrics and Quantitative Economics Programs

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)	0	0
Certificate (2-4 Years)	0	0
Associate’s Degree	0	0
Bachelor’s Degree	19	3
Post-Baccalaureate	0	0
Master’s Degree	171	4
Post-Master’s	6	0
Doctor’s Degree (Research)	110	0
Doctor’s Degree (Professional Practice)	0	0
Doctor’s Degree (Other)	0	0

Majors Related to Econometrics and Quantitative Economics

You may also be interested in one of the following majors related to econometrics and quantitative economics.

Major	Number of Grads
General Economics	21,702
Development Economics & International Development	480
Applied Economics	460
International Economics	390
Other Economics	268

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
• Image Credit: By pixabay under License

More about our data sources and methodologies.