Economics is the science that studies the production, distribution and consumption of goods and services. Macroeconomics analyzes the entire economy and factors and policies that affect it. On the other hand, Microeconomics analyzes elements of the economy, for example, individual agents and markets.
The Masters in Economics is a postgraduate master's degree in economics (also MS in Economics, MA in Economics, MCom in Economics) comprising training in Economic theory, Econometrics and Applied Economics.
At undergraduate level, here some of the modules you can expect to study during an economics:
- Applied economics and statistics
- Global economics
- Mathematics for economics
- Economic policy
Students get to know the fundamental concepts related to Economics and their application in the real world. Some of the courses covered in a Masters in Economics include:
- Microeconomic Theory
- Macroeconomic Theory
- History of economic theory
- Applied economics
Some of the specializations offered in a Masters in Economics program include:
- Development Economics
- Labor Economics
- Public Economics
- Urban Economics
- Agricultural Economics
Economics degree skills :
- Thinking logically and critically.
- The ability to simplify complex issues and extract the relevant pieces of information.
- Data analysis.
- Written and spoken communication.
- Problem-solving using your initiative.
- Time management.
- Commercial and cultural awareness.
- Teamwork and interpersonal skills.
The requirements to study a Masters in Economics abroad are important to know from an eligibility point of view. Listed below are some of the basic requirements:
Business schools require you to give the GMAT which forms the most important part of your MS Economics application. Few universities also accept GRE scores in place of GMAT scores as a Masters in Economics requirement.
They also require a minimum 2-3 years of work experience (depending on the program you intend to join).
IELTS or TOEFL is compulsory for acquiring a student visa and as a proof of English proficiency.
A Bachelor’s degree in Economics or relevant subjects with excellent scores.
List of Economics Scholarships
- Orange Knowledge Programme in The Netherlands
- UEA International Development Full Fees Scholarships
- Scholarships for MSc Development Economics at University of Kent
- Schwarzman Scholars Program at Tsinghua University
- ADB-Japan Scholarship Program for Developing Countries in Asia and Pacific
- Robert S. McNamara Phd Research Fellowships
- Hubert Humphrey Fellowships in USA for International Students
- Joint Japan World Bank Graduate Scholarship Program
- Fully-funded Masters & PhDs - International scholarships
Getting a degree in economics opens up a huge number of potential career opportunities, especially when you’ve studied abroad. Popular careers for economics graduates include:
- Market research analyst
- Financial analyst
- Risk analyst
- Data analyst
- Account manager
- Management consultant