25 Best Online Economics Degree Programs Heading Into 2024
Aliza Zia
12 min read
In this article, we will be looking at the 25 best online economics degree programs heading into 2024. If you want to skip our detailed analysis, you can go directly to the 5 Best Online Economics Degree Programs Heading Into 2024.
What Industry Can You Get Into With an Economics Degree?
The financial services industry offers promising job prospects for students with a degree in economics. According to the US Bureau of Statistics (BLS), the financial investments industry is one of the top-paying industries for economists. In May 2022, the annual mean wage of economists in the financial services industry was $197,400. Becoming an investment banker is an opportune career choice for a large number of economists. Investment bankers act as intermediaries who connect companies seeking capital with investors and provide services including underwriting securities, facilitating mergers, offering financial advisory, conducting market analysis, and managing risk.
The global investment banking industry is growing rapidly, which implies an auspicious career outlook for students with economics degrees in the future as well. According to a report by Allied Market Research, the global investment banking market was valued at $78.9 billion in 2022. The market is expected to grow at a compound annual growth rate (CAGR) of 10.8% to reach a market valuation of $213.6 billion by 2032. The rapid technological advancements and digital transformation of the financial sector are expected to fuel the growth of the investment banking industry during the forecast period.
Investment banks are harnessing technologies such as artificial intelligence, machine learning, and automation to streamline processes and bolster risk management. The use of generative AI is transforming the provision of services including writing and interpreting technical documents. Online platforms and trading have democratized market access, broadening the customer base. These advancements empower investment banks to deliver innovative products, enhance operational efficiency, and propel demand in the investment banking market. As a canon event, increased demand is expected to create more jobs in the investment banking industry. In 2022, North America was the most dominant region in the investment banking industry. The presence of a strong and well-developed financial sector and the presence of financial centers like Wall Street contributed to the region's market. North America has numerous multinational corporations, which drives the strong regional investment banking sector. The Asia Pacific region is expected to be the fastest-growing region during the forecast period. The growing economies including India and China will significantly contribute to the growth of the region.
Key Players
Goldman Sachs Group Inc (NYSE:GS) is one of the most prominent names in the financial industry. It is an American multinational investment bank and financial services company. On December 18, Reuters reported that Goldman Sachs Group Inc (NYSE:GS) is facing a costly exit from its Apple Inc (NASDAQ:AAPL) credit card partnership, viewed as risky and unprofitable by other lenders. Apple Inc (NASDAQ:AAPL) has proposed an exit for Goldman Sachs Group Inc (NYSE:GS) in the next 12 to 15 months. The CEO of the company is seeking strategic alternatives for the consumer unit after scaling back retail ambitions and eliminating earnings drag from the credit card business.
Bank of America Corp (NYSE:BAC) is a dominant company in the financial services industry. On September 18, Bank of America Corp (NYSE:BAC) announced that it is enhancing its CashPro Chat virtual service advisor within the CashPro banking platform. The CashPro banking platform by the company is already benefiting over 40,000 global corporate and commercial clients. The update integrates artificial intelligence and machine learning from Erica, the virtual financial assistant by Bank of America Corp (NYSE:BAC). This enables business clients to swiftly access account information and direct complex queries to specialized service teams.
Morgan Stanley (NYSE:MS) is a significant player in the financial services industry. On October 18, Morgan Stanley (NYSE:MS) reported earnings for the fiscal third quarter of 2023. The company reported an EPS of $1.41, beating estimates by $0.1. The company's revenue for the quarter grew by 2.21% and amounted to $13.27 billion, ahead of market consensus by $48.4 million. As of December 26, Morgan Stanley (NYSE:MS) has surged nearly 10.55% over the past six months. Here are some comments from the company's earnings call:
"The firm produced revenues of $13.3 billion in the third quarter. Our EPS was $1.38 and our ROTCE was 13.5%. Results in the third quarter were solid against a mixed market backdrop. The firm’s year-to-date efficiency ratio was 75%. Together, severance and DCP impacted the year-to-date efficiency ratio by nearly 150 basis points. As we invest for growth, our integration efforts have remained a priority. Integration-related expenses were $68 million in the third quarter, and we anticipate a similar amount in the fourth quarter as previously communicated. Now to the businesses. Institutional securities revenues were $5.7 billion, declining 3% versus the prior year. Equity and fixed-income results were in line with long-term historical averages.Investment banking revenues remained depressed on lower volume. However, leading indicators across advisory and underwriting progress positively, evidenced by a notable increase of Morgan Stanley’s announced volumes in the third quarter on a year-over-year basis. Investment banking revenues decreased to $938 million. The change to the previous year was driven by lower results in advisory and debt underwriting. Advisory revenues of $449 million reflected a decline in completed transactions, due to lower announced volumes in prior periods. Despite the weaker quarterly results, we continue to see broad sector diversification of our completed deals and the backlog reflects a similar pattern. Equity underwriting revenues were $237 million. Overall activity remained muted relative to historical averages."
Getting an economics degree offers a credible avenue for entering the financial services industry. Getting an online degree offers flexibility to pursue a formal education while managing other commitments as well. We have made a list of the best online economics degree programs heading into 2024.
25 Best Online Economics Degree Programs Heading Into 2024
25 Best Online Economics Degree Programs Heading Into 2024
Our Methodology
To make our list of the best online economics degree programs heading into 2024, we have used a consensus methodology. We consulted four sources, including Intelligent.com, Great Value Colleges, BestColleges, and Best Value Schools. The consensus methodology entailed extracting names that appeared in at least 2 of the 4 sources. Our selection methodology encompassed a comprehensive analysis of the average rankings attributed to each program across multiple sources. The computation of average ranks involved aggregating the individual rankings assigned to each program within the respective sources where it was featured. Subsequently, this sum was divided by the total number of sources in which the program was evaluated. The resulting list has been arranged in descending order based on the calculated average ranks.
By the way, Insider Monkey is an investing website that tracks the movements of corporate insiders and hedge funds. By using a consensus approach, we identify the best stock picks of more than 900 hedge funds investing in US stocks. The top 10 consensus stock picks of hedge funds outperformed the S&P 500 Index by more than 140 percentage points over the last 10 years (see the details here). Whether you are a beginner investor or a professional one looking for the best stocks to buy, you can benefit from the wisdom of hedge funds and corporate insiders.
25 Best Online Economics Degree Programs Heading Into 2024
25. Ottawa University
Number of Mention: 2
Average Ranking Across Sources: 25
Ottawa University has one of the best online economics degree programs heading into 2024. The university offers an online Bachelor of Arts in Business Economics. The program provides a strong foundation for students to pursue different careers as well as graduate work.
24. Texas State University
Number of Mention: 2
Average Ranking Across Sources: 24.5
Texas State University is located in Central Texas. The university offers an online Bachelor of Arts degree in Economics. 120 credits are required for graduation. The university is accredited by the Southern Association of Colleges and Schools Commission on Colleges.
23. Indiana State University
Number of Mention: 2
Average Ranking Across Sources: 20
Indiana State University offers a variety of online degree programs including a Bachelor of Science in Economics degree. The Bachelor of Science in Economics is designed to prepare students for careers in fields including research and consulting. Indiana State University is accredited by the Higher Learning Commission.
22. Regent University
Number of Mention: 2
Average Ranking Across Sources: 19.5
Regent University is located in Virginia Beach and has one of the best online economics degree programs heading into 2024. The university offers an online Bachelor of Science in Business Economics program. The university also has a generous transfer policy, allowing students to transfer up to 90 credit hours.
21. University of North Carolina
Number of Mention: 2
Average Ranking Across Sources: 19.5
The University of North Carolina offers an online Bachelor of Science degree in Economics. The degree program requires a minimum of 45 credit hours. The University of North Carolina is accredited by the Southern Association of Colleges and Schools Commission on Colleges.
20. University of Arizona
Number of Mention: 2
Average Ranking Across Sources: 18.5
The University of Arizona offers an online Bachelor of Arts in Economics degree program. The program is designed to enable students to understand and apply economic theory. The University of Arizona is accredited by the Higher Learning Commission.
19. Eastern New Mexico University
Number of Mention: 2
Average Ranking Across Sources: 16.5
The Eastern New Mexico University offers a wide range of online degree programs including an online Bachelor of Business Administration with an emphasis in Applied Economics and Finance. The online economics degree program is offered through the university's College of Business. The university is accredited by the Higher Learning Commission.
18. Fort Hays State University
Number of Mention: 2
Average Ranking Across Sources: 14.5
Fort Hays State University has one of the best online economics degree programs heading into 2024. The online degree programs are offered through its Department of Economics, Finance & Accounting. The university is accredited by the Higher Learning Commission.
17. University of Hawai'i at Manoa
Number of Mention: 2
Average Ranking Across Sources: 13.5
The University of Hawai'i at Mānoa offers an online Bachelor of Arts in Economics degree program. The online economics degree is delivered through its Outreach College. The university is accredited by the Western Association of Schools and Colleges.
16. University of Wisconsin Whitewater
Number of Mention: 2
Average Ranking Across Sources: 13.5
University of Wisconsin Whitewater offers a variety of online degree programs including a Bachelor of Business Administration in Economics. The degree program requires 120 credits. The university is accredited by the Higher Learning Commission.
15. SUNY Empire State College
Number of Mention: 2
Average Ranking Across Sources: 12.5
SUNY Empire State College offers an online Bachelor of Science in Business, Management, and Economics, with a major in Economics. 124 credits are required for completion. The online degree programs are offered through the SUNY Online Plus platform. SUNY Empire State College is accredited by the Middle States Commission on Higher Education.
14. West Texas A&M University
Number of Mention: 2
Average Ranking Across Sources: 10
West Texas A&M University has one of the best online economics degree programs heading into 2024. The university offers an online Master of Science in Finance and Economics. The program is designed to impart applicable knowledge of economics theory to its students.
13. University of West Georgia
Number of Mention: 2
Average Ranking Across Sources: 9
The University of West Georgia offers several economics programs, including a Bachelor of Business Administration with a major in Economics. The program requires 120 credits for completion. The university is accredited by the Southern Association of Colleges and Schools Commission on Colleges.
12. Arizona State University
Number of Mention: 2
Average Ranking Across Sources: 9
Arizona Stata University offers a wide range of online degree programs including a Bachelor of Science in Economics. The degree program requires a total of 120 credit hours for completion. Arizona Stata University is accredited by the Higher Learning Commission.
11. Western Illinois University
Number of Mention: 2
Average Ranking Across Sources: 8
Western Illinois University offers an online Bachelor of Arts and a Bachelor of Science in Economics degree. 120 credits are required for the completion of Bachelor's degree programs. The university is accredited by the Higher Learning Commission.
10. Eastern Oregon University
Number of Mention: 2
Average Ranking Across Sources: 5
Eastern Oregon University has one of the best online economics degree programs heading into 2024 including a Bachelor's Degree in Economics. 120 credits are required for completion. The students have access to the same professors, content, and opportunities as on-campus students.
9. Florida International University
Number of Mention: 2
Average Ranking Across Sources: 2.5
Florida International University offers a multitude of online degree programs including an online Bachelor of Arts in Economics program. The program requires a total of 120 credit hours. Florida International University is accredited by the Southern Association of Colleges and Schools Commission on Colleges.
8. Liberty University
Number of Mention: 3
Average Ranking Across Sources: 16.7
Liberty University offers several online economics degree programs including a Bachelor of Science in Economics, a Bachelor of Science in Business Administration in Economics, and a Master of Business Administration in Economics. Liberty University is accredited by the Southern Association of Colleges and Schools Commission on Colleges.
7. North Carolina Agricultural and Technical State University
Number of Mention: 3
Average Ranking Across Sources: 8.7
North Carolina Agricultural and Technical State University offers one of the best online economics degree programs heading into 2024 including an online Bachelor of Science in Economics program. 120 credits are required for completion. The university is accredited by is accredited by the Southern Association of Colleges and Schools Commission on Colleges.
6. Colorado State University
Number of Mention: 3
Average Ranking Across Sources: 7.3
Colorado State University offers an online Bachelor of Arts in Economics program. The degree program requires 120 credits. Colorado State University is accredited by the Higher Learning Commission.
