2025 Most Affordable Online Master's Degrees in Economics
An affordable online master’s in economics offers working professionals a practical way to deepen their expertise in economic theory, data analysis, and policy evaluation. These programs are ideal for those aiming to advance into roles like analysts, consultants, or policymakers, with flexible formats that fit busy schedules.
Our rankings prioritize affordability while also spotlighting schools that stand out for career outcomes, student support, and learning experience. Here are some key takeaways:
- Best for Budget: Georgia Southern University has the lowest yearly tuition of $5,505, but Missouri State University is close behind at $5,685.
- Best for Salary: Johns Hopkins University leads in earnings with graduates making $126,163, ranking in the top 3% nationally for salary outcomes in economics.
Best for Student Experience: Murray State boasts a stellar review rating of 4.41 out of 5, while Chicago School earns top marks for its 6:1 student-to-faculty ratio.
All tuition and program data is carefully verified for accuracy by our team. For full ranking criteria, see our complete methodology page.
2025 Most Affordable Online Master's Degrees in Economics
Economics in Action: Career Insights from the Field
Operations Manager
Before getting into project management for an auto glass repair company, I spent ten years in wealth management, handling budgets, risk analysis, and operational efficiency. That background helps me make better decisions about pricing, scheduling, and overall business strategy.
One skill I use every day is financial modeling. Knowing how to break down costs, forecast revenue, and manage profit margins is huge in this industry. Glass prices go up and down, and insurance reimbursements can be tricky, so I have to make sure we stay profitable without overpricing services.
My economics background also helps with demand forecasting, so we keep just the right amount of inventory — too much, and we tie up cash, too little, and we risk delays.
Another great skill that I learned from my degree is process optimization. Auto glass repair is all about speed and precision, so I look at how we schedule technicians, manage materials, and process insurance claims to cut wasted time. The goal is to get cars in and out as quickly as possible without sacrificing quality.
My finance and operations knowledge helps me spot inefficiencies and fix them before they become costly problems.
Choosing the Best Online Master’s in Economics: What the Data Tells Us
When you’re looking for an online master’s degree in economics, two big questions tend to guide the decision: Can I afford this? and Will this pay off?
While the average tuition for many online graduate programs can soar past $30K, our top five picks — Georgia Southern University, Missouri State, New Mexico State, University of North Dakota, and Emporia State — all offer full programs for under $8,000.
Tuition ranges on this list span from just over $5,500 (Georgia Southern) to $54,000 (Johns Hopkins), but the majority of schools fall under $20,000, making them significantly cheaper than traditional graduate programs.
When Earnings Data Matters Most
Affordability is crucial but for many students, the long-term payoff matters just as much, if not more. That’s where our proprietary earnings data and Salary Scores help paint a clearer picture of a program’s return on investment. While most of the most affordable schools on this list don’t yet report graduate earnings, a few higher-cost programs do, and they give us insight into how a higher tuition may align with stronger earning potential down the line.
Take George Mason University, for instance. With a tuition of $21,300, it doesn’t land in the ultra-low-cost category, but its median graduate earnings of $84,684 place its program in the 34th percentile compared to economics master’s programs nationwide. That percentile, while moderate, signals that GMU graduates are doing relatively well in a field where earnings can vary significantly by specialization and industry. For students who can invest more up front, the program offers a strong balance of accessibility, quality, and long-term career potential, particularly given its robust public economics and policy focus.
But the most striking case comes from Johns Hopkins University. With a tuition of $54,000, it’s the most expensive program on our list, but that price tag is offset by median earnings of $126,163, placing its graduates in the top 3% of earners from similar programs. That’s not just high — it’s elite. The program’s dual-degree structure (MBA and MS in Applied Economics) likely contributes to this, offering both economic rigor and business leadership training — a rare, high-impact combination that opens doors in both the private and public sectors.
What Economics Master's Students Really Think
At OnlineU, we collected recommendation rates through direct alumni surveys, asking graduates whether they would recommend their program to others.
These percentages reflect the share of respondents who answered “yes” to that question, providing a straightforward gauge of satisfaction, value, and outcomes. For economics master’s students, who often weigh cost, flexibility, and career payoff carefully, these responses offer a window into real-world experiences.
Murray State University, for example, pairs its reasonable $17,805 tuition with a remarkable 100% recommendation rate. One Murray alum shared, “Murray has been a blessing to me. The instructors were very capable and went the extra mile to help me succeed.” That kind of individual attention is invaluable in an online graduate environment.
Georgia Southern University (GSU), with a tuition of just $5,505, also ranks high for satisfaction, boasting a 93% recommendation rate. One graduate reflected, “There are so many resources at Georgia Southern and the faculty is dynamic. I’m getting a top-tier education and a strong network in the process.” Another wrote, “GS had professors that encouraged me to challenge myself, produce and present research, and network with professors and speakers to aid in professional development.”
The University of North Dakota and Missouri’s Mizzou also earned high marks — 91% and 99%, respectively. This demonstrates that even flagship public universities with larger student bodies can deliver meaningful, personal learning experiences.
For students pursuing a master’s in economics, these metrics carry real weight. Many are mid-career professionals looking to deepen their expertise in areas like data analysis, public policy, or economic research, often while juggling work and family. That’s why combining strong recommendation rates with low tuition provides a more complete picture of which programs truly deliver on value.
Does a School's Online Popularity Matter?
For economics master’s students, a school's online enrollment can hint at the quality of the virtual learning environment. Schools like Liberty University and Purdue Global, with tens of thousands of online students, have likely refined their tech platforms, support systems, and engagement tools over time. This kind of scale often translates into smoother experiences, better peer interaction, and responsive digital services.
By contrast, smaller programs, like those at schools with fewer than 1,000 online students, may offer more individualized attention but may not have the same breadth of virtual resources. For economics students tackling complex, data-driven coursework, reliable infrastructure and robust support can make a big difference.
Importantly, this graph highlights students enrolled entirely online. Even UND, which appears on the lower end, has nearly 2,000 fully remote graduate students, which is a clear indicator of a well-developed digital learning infrastructure.
Should You Choose a Niche Focus in Economics?
Programs That Emphasize Tech and Analytics
If you're leaning toward applied economics with a tech-savvy slant, University of North Dakota (UND) is worth a look. At $7,660, it features a STEM designation, integration of Python and R, and optional research at its policy and business analytics institute. It's also AACSB-accredited, and its strong 91% recommendation rate reflects a satisfying student experience.
Emporia State University (ESU) brings a data science twist to the table with its Master of Science in Informatics, specifically in Quantitative Economics. At $7,733, it’s a strong option for students who want to master big data alongside economic modeling. The 36-credit curriculum skews toward applied, real-world data tools and statistical programming.
Balancing Business and Economics
Several schools on this list house their economics degrees within MBA frameworks. This matters because while the tuition might be higher, the career applications can be broader.
Take Liberty University, offering an MBA in Economics at $10,170. It integrates economics with ethical and biblical worldviews, and offers significant flexibility via 8-week terms. With military support and transfer credit allowances, it’s ideal for working professionals or service members looking for a business-first take on economic analysis.
Similarly, National University offers a Behavioral Economics concentration within an MBA framework. Its $10,608 tuition, weekly start dates, and high online enrollment (top 3%) make it especially appealing for students who value maximum flexibility and real-world behavioral insights.
Looking for additional cost-effective graduate programs? Explore our lists of the most affordable master's finance programs and the most affordable MBA programs.
Public Service
Some programs carve out unique niches. SUNY Empire State University’s MA in Community and Economic Development blends social impact with economic theory, perfect for students aiming for nonprofit or public sector roles. Its capstone is focused on applied policy, a real bonus for hands-on learners.
Final Takeaways
For prospective economics master’s students, choosing a program isn’t just about ticking boxes, it’s about investing wisely in your future.
The most affordable programs on our list, like Georgia Southern, Missouri State, and Murray State, prove that low tuition doesn’t have to mean low value. These schools offer strong student satisfaction, high financial aid coverage, and flexible formats tailored to professionals balancing work, life, and learning.
But affordability alone isn’t enough. Look at schools with high recommendation rates, well-established online platforms, and specialized pathways (whether it’s analytics, policy, or community development). These indicators tell you which programs not only deliver academic quality but also meet the real-world needs of students just like you.
If you’re serious about advancing your career in economics, don’t just compare price tags, compare outcomes, student voices, and infrastructure to find the best fit for your needs.
FAQs About Affordable Online Master's Degrees in Economics
What Is An Online Economics Master's Degree?
Online master's programs in economics are designed to give you a profound understanding of economic theories, practices, and real-world applications. You'll study how resources are distributed and utilized, analyze the impact of decisions made by individuals and firms on the economy, and understand the role of government in influencing economic growth and stability.
As part of your coursework, you may be tasked with projects that require extensive research on economic trends, data modeling assignments to predict market behaviors, or case study analyses exploring the impact of economic policies.
The curriculum of an online economics degree will help you develop valuable technical skills like econometrics, data analysis, and statistical programming. You'll also gain essential soft skills, such as critical thinking, problem-solving, and effective communication.
An online economics master's program typically requires the completion of 30-36 credit hours. Many programs are meant to be finished in one year of full-time study, but some programs may require two years.
What Are Common Courses in an Economics Master's Degree?
Online master's in economics programs often include some kind of culminating activity, such as a research project, thesis, or capstone course. A few programs also require you to get real-world experience through an internship.
Some of the core courses usually included in an online economics master's program are:
- Macroeconomic Theory: This course delves into the broader aspects of an economy, helping students understand national income, employment, inflation, and fiscal policies. Students will explore the factors affecting an entire economy and the formulation of policies.
- Microeconomic Theory: In contrast to its macro counterpart, this course focuses on individual decision-making units like households and firms. Students learn about supply, demand, market structures, and the role of prices in resource allocation.
- Econometrics: Econometrics bridges economics and statistics, teaching students how to apply statistical methods to economic data. This course is crucial for forecasting, policy evaluation, and understanding economic relationships.
- International Economics: By looking at the global economy, students gain insight into trade theories, exchange rates, and the impact of globalization. They'll also explore the dynamics of international trade and finance.
- Development Economics: This course focuses on the economic aspects of developing countries, addressing issues like poverty, infrastructure, and economic policies. Students will examine strategies for economic growth and development.
- Monetary Economics: Understanding money, banking systems, and financial markets is the key component of this course. Students learn about the role of money in the economy and the influence of monetary policy.
How Do You Fund an Online Economics Degree?
Without a doubt, cost is one of the biggest factors when you're deciding whether to earn a master's degree. Tuition, books, supplies, and additional fees all need to be factored into your estimated total cost, but tuition is by far the most significant. To start developing an estimated total cost, you can establish your tuition expenses by multiplying a school's per-credit tuition rate by the number of required credit hours in its program.
One savvy way to save money is to opt for an online program like one of the most affordable master's in economics degrees listed above. Many colleges and universities charge lower tuition rates for their online degree programs. Distance learning also eliminates room and board fees, as well as transportation expenses.
As an online student, you can apply for financial aid if you're enrolled in an institutionally-accredited program. To apply, you simply need to fill out the Free Application for Federal Student Aid (FAFSA). Based on this one form, financial aid officers will determine whether you qualify for grants, fellowships, and scholarships funded by the schools and by the federal and state governments.
If your FAFSA form demonstrates true financial need, you're likely to receive grants and fellowships. These are the best types of financial aid to get because you don't have to repay them.
However, if you're not awarded enough grant and scholarship money to cover the full cost of earning a master's degree, you may be offered a student loan. You don't have to accept the loan, but it may be your best option. Just be sure to use our student loan repayment calculator to find the total cost of repaying the loan with interest. Also, you may want to try to secure a federal student loan, which is likely to feature a lower interest rate and better repayment terms than a private student loan.
If you're willing to invest a little more time into finding sources of funding, you can research whether you qualify for any private scholarships. These are usually sponsored by nonprofits, community and civic organizations, and even some corporations. Awards are often based on academic achievement, community service, and other factors besides financial need, and they don't have to be paid back. You'll need to submit separate applications for each scholarship.
What Can You Do With an Online Economics Degree?
Holding a master's degree in economics opens doors to a variety of high-demand professions in both the public and private sectors. Economists, data analysts, policy advisors, and financial consultants are some of the many roles that professionals with an advanced understanding of economics can fill.
Economists often work for the government or for consulting services organizations. Using both existing and new data that they collect, they analyze data, forecast trends, and advise businesses and other organizations on important decisions. According to the Bureau of Labor Statistics (BLS), the median annual wage for economists was . The BLS projects that demand for professionals will increase by 5% through 2033.
If you're intent on becoming an economist, earning an online economics master's degree is definitely worth it. According to the BLS, you'll need this advanced degree to land a job with a government agency or consulting firm.
Other possibilities include data scientists (), actuaries (), and financial analysts ().
Pursuing further educational opportunities, like a PhD in economics, can lead to roles in academia, high-level consultancy, or policy-making positions in governmental institutions.
How Do I Choose a Master's in Economics?
You have many options for earning an online master's degree in economics, which can make it somewhat challenging to figure out which is the best one for your needs. As you review each possible school, research its tuition rates, student services, faculty, and financial aid funding. Then, explore each program's curriculum to ensure it will equip you for the career you have in mind.
You'll also want to choose a college or university that has earned institutional accreditation like all of the schools on our list of the most affordable master's in economics degrees. You may also want to choose a program that has been accredited by the (AACSB). This program-level accreditation ensures that the curriculum is designed to prepare you to excel in the field of economics.
Is an MBA Better Than a Master's in Economics?
Neither an MBA nor a master's in economics is better than the other, but one may be better suited to your long-term career aspirations and interests. While an MBA offers a broader perspective on business management, a master's in economics provides specialized knowledge in economic theories and applications.
What Are the Admission Requirements for Economics Degrees?
The admission requirements for master's programs in economics are somewhat similar across schools. You'll need to have a bachelor's degree, but not necessarily a bachelor's in economics. However, if your undergraduate studies didn't include essential courses in economics, finance, statistics, and other related subjects, you may need to take prerequisite classes before taking your core master's courses. These extra courses may impact the total cost of earning the degree.
When you submit your online application, you'll also need to submit transcripts from your undergraduate degree. It's possible that you'll be required to have maintained a GPA of at least 3.0. At some point, you'll probably also be asked for a resume, a personal statement regarding your career goals, letters of recommendation, and possibly GRE scores.
Student Reviews of Online Economics Programs
The Global Technology and Development degree program directly affects international relationships and immediately has a global impact. A major part of this discipline deals with fostering a greater competence of cross-cultural and international issues and relating it back to the strategic interests and capabilities of the United States. It allows for creative and complex analysis when facing multifaceted operational challenges of the 21st century. It prepares the frontrunners that lead and function... Read More
Review Date: 12/18/2017
Would Recommend: Yes
Arizona State University was great at working with my schedule and finances. Their curriculum was very easy to navigate. I was able to further my education online which was even better, I managed my workload according to my schedule. As a veteran it was amazing to have a veteran's center in site that quickly resolved any financial questions I had. Overall my experience has been great and I would recommend this university to anybody.
Review Date: 1/6/2018
Would Recommend: Yes
Still ongoing process to obtain my master degree since this is my first semester, but I can say that this is a very good school. The staff and professors are very helpful. They answer all my questions in a timely manner. From the admission office to the professors, they are all very willing and eager to help so that I can have the best learning experience. Recommended.
Review Date: 2/2/2017
Would Recommend: Yes
The school has an excellent economics program. I particularly like it for its emphasis on sustainability and social impact. I would recommend the program to others if you are looking for an online education opportunity without spending a ton of money.
Review Date: 1/9/2018
Would Recommend: Yes
The online graduate program at ASU was a perfect fit for my needs. It is well designed, technologically current, and extremely supportive of students of all ages achieving their goals. I split my time between the U.S. and Denmark, and this program has made it possible to pursue my Masters in Science while living between two continents! It is academically rigorous, but flexible enough to work into real lives. I will recommend ASU online to anyone!
Review Date: 2/1/2018
Would Recommend: Yes
Ashford University is an institution that prides itself on providing the best program and curriculum for all students who attend. If ever students have questions or concerns, there are numerous people whom serve as a point of contact that will ensure those questions are answered. Additionally, for the graduate program specifically, students are often enrolled in a 6-week course which always integrates real-world examples with the text.
Review Date: 2/22/2017
Would Recommend: Yes
I believe that the AAP Applied Economics Program was the best decision I made for my career. They have flexible course offerings online and on campus. I feel like I learned a lot from my professors and classmates. Everyone is very helpful and supportive. Getting started with the program was stress-free due to the support and attention of the administration.
Review Date: 3/4/2017
Would Recommend: Yes
I am currently in the Advanced Academic Program's Applied Economics program. Although I am in the early stages of obtaining the degree, it has been very challenging and I am very appreciative to be able to take courses online with my work schedule and living away from the campus.
Review Date: 3/13/2014
Would Recommend: Yes
I'm absolutely in love with the Applied Economics Program at Southern New Hampshire. The faculty is very attentive and willing to go that extra mile to ensure your success and the academic advising one receives in nothing less than amazing.
Review Date: 12/29/2014
Would Recommend: Yes
Offers a premium education at a premium price. GSU's Masters of Science in Applied Economics is a recognized and renowned program, and has a lot of name recognition, especially compared to similar programs from other schools. It's also one of the few completely online, so it's attractive for remote students and draws people from all over the U.S. and internationally. I found that it's a little difficult to understand how to get accepted; but once in, you're going to enjoy your studies. The biggest... Read More
Review Date: 7/4/2013
Would Recommend: Yes
I had great experience at UMUC. The online classes are very well written and professors are very nice. The professors bring real world experience to apply in the classes. Many team based projects are fun.
Review Date: 1/31/2017
Would Recommend: Yes
its a great school for people who are working full time and don't have time to go to a physical college. The professors are great and provide live examples based on current events.
Review Date: 5/22/2017
Would Recommend: Yes
I absolutely love Johns Hopkins and the curriculum and what I am learning. Before I started taking the courses I was honestly uninterested in economics; it was a means to an end. But after the very first course I can honestly say I love it! The professors are more than willing to meet you at whatever level you're at and give you the tools you need to succeed. No wonder this is the top university in this field!
Review Date: 2/2/2017
Would Recommend: Yes
The applied economics program at Johns Hopkins University - Advanced Academics Programs is probably one of the toughest academic programs that I've ever been in. The benefit of being in the program is having access to a number of extremely intelligent professors and students. My experience there has helped me garner a new way of thinking and conceptualizing possibilities. I have made a lot of great friends in the programs; friends that I can call on for help with academics or enjoy a Friday night... Read More
Review Date: 2/28/2017
Would Recommend: Yes
East Carolina University has the best learning atmosphere! Their professors truly care about the student and career path and are very knowledgeable in their fields of study. They are hands-on and willing to be of assistance at a moment's notice. I've had the pleasure of being in and around the university the past five years and the skills and knowledge I have obtained cannot be compared!
Review Date: 3/21/2017
Would Recommend: Yes
I totally recommend this institution. It is very good, it increases your personal and professional level preparing and educating you better, if you are looking for some institution to get your master choose that one.
Review Date: 5/22/2017
Would Recommend: Yes
I thoroughly enjoyed the experience. I honestly feel that in 12 months that I learned more than I did compared to my BS 10 times over. The professors are great and really care about the students.
Review Date: 5/22/2017
Would Recommend: Yes
It was a very nice, large campus, people were kind, and friendly to me and my dormmate.
Review Date: 9/1/2017
Would Recommend: No
SNHU is a tier 1 ranked university. Regionally accredited and awarded special accreditation (European), which is rare for an American base university. Beautiful campus. Great sports teams. Also, SNHU has beautiful dorms. Many of the professors at SNHU graduated from prestigious universities such as Harvard,Yale, etc. SNHU has many students who graduated from upscale universities. Harvard University and other upscale universities hires SNHU graduates to teach. SNHU course work is difficult. THIS UNIVERSITY... Read More
Review Date: 10/12/2014
Would Recommend: Yes
It was a great experience. Great teachers and great programs.
Review Date: 1/24/2017
Would Recommend: Yes