The study of economic theory, mathematics, and statistical inference to quantify economic phenomena is known as econometrics. In other words, it converts theoretical economic models into effective policy making instruments. Econometrics’ goal is to turn qualitative assertions (like “the association between two or more variables is positive”) into quantitative statements (like “consumption expenditure grows by 95 cents for every one dollar increase in disposable income”). Econometricians convert economic theorists’ models into estimable forms. “Econometric approaches are employed in various disciplines of economics,” according to Stock and Watson (2007), “including finance, labor economics, macroeconomics, microeconomics, and economic policy.” Economic policy decisions are rarely undertaken without first doing an economic analysis to determine their impact.

Master Econometrics Online

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Featured Online Programs

Southern New Hampshire University

PROGRAM: Online MS in Applied Economics

Southern New Hampshire University is a private, nonprofit, accredited institution with more than 3,000 on-campus students and over 60,000 online students, making us one of the fastest-growing universities in the country. Founded in 1932, we’ve been relentlessly reinventing higher education ever since and have gained national recognition for our dedication to helping students transform their lives and the lives of those around them.

We’re proud to provide affordable, accessible education that students can pursue on our 300-acre campus in Manchester, NH, over our innovative online platform or at our regional centers in Manchester, Nashua, Portsmouth and Salem, NH, and Brunswick, ME.

SNHU has earned the Best Buy and Best of Business – Best Online Degree awards and is consistently ranked as a top Military Friendly® School by G.I Jobs®.

Best Master Econometrics Online Programs

When choosing a master’s program, one of the most difficult decisions is deciding which program to pursue, which school to go to, and which university to attend. Other factors to examine are cost, placements, starting wage, employment rates, acceptance rates, and so on. We at OMC combed through all these matrices to compile a ranking of the finest online econometrics degree. Master econometrics online has no absolutes when it comes to the finest or the best programs; it all depends on the factors a student decides to value most and to select a program based on those criteria. These factors could include things like commuting time or annual tuition, or even an asynchronous program that the student is interested in. See the ranking below: 

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College Name & AddressTuitionGraduation Rate
University of California
405 Hilgard Ave, Los Angeles, California 90095
Georgia Institute of Technology
225 North Ave, Atlanta, Georgia 30332
The University of Texas at Austin
110 Inner Campus Drive, Austin, Texas 78705
Ohio State University
190 N. Oval Mall, Columbus, Ohio 43210
Clemson University
201 Sikes Hall, Clemson, South Carolina 29634
North Carolina State University
2101 Hillsborough Street, Raleigh, North Carolina 27695
California Polytechnic State University
1 Grand Ave., San Luis Obispo, California 93407
Northeastern University
360 Huntington Ave, Boston, Massachusetts 02115
Georgetown University
37th and O St NW, Washington, District of Columbia 20057
Johns Hopkins University
3400 N Charles St, Baltimore, Maryland 21218
The Chicago School of Professional Psychology
325 N Wells Street, Chicago, Illinois 60654
University of Missouri
105 Jesse Hall, Columbia, Missouri 65211
University of Detroit Mercy
4001 W McNichols Rd, Detroit, Michigan 48221
American University
4400 Massachusetts Ave NW, Washington, District of Columbia 20016
University of North Dakota
264 Centennial Drive, Stop 8193, Grand Forks, North Dakota 58202
Georgia Southern University
1332 Southern Drive, Statesboro, Georgia 30460
West Texas A & M University
2501 4th Ave, Canyon, Texas 79016
Youngstown State University
One University Plaza, Youngstown, Ohio 44555
Southern New Hampshire University
2500 North River Road, Manchester, New Hampshire 03106
Purdue University Global
2550 Northwestern Avenue, Suite 1100, West Lafayette, Indiana 47906

Source – Integrated Post Secondary Education Data System & University Data
*Tuition rates are for in-state and per year. Program specific rates may apply.
**NA – data not available

Understanding Master Econometrics Online Programs

The online econometrics degree program focuses on statistical modeling, estimation, and testing of economic models employing time series data from the financial and economic sectors. Students explore the complexity of economics in facts, theories, and markets, and learn how to use complex mathematical and statistical techniques with ease. The curriculum of the program delves into the intricate mathematics underlying economic complexity and focuses on econometric theory, panel data, micro, and financial econometrics. 

This 36-odd credit program can be taken entirely online, offline, or as a blend of both. Some programs will require the completion of a thesis or capstone project at the end of their final terms. By selecting a concentration area, the master econometrics online gives individuals the chance to specialize in their area of interest, which can lead to many interesting and rewarding jobs. 

Master Econometrics Degree Types

The master of econometrics degree is offered in two variants – the Master of Arts in Econometrics, which is more theoretical econometrics, and the Master of Science in Econometrics, which is more applied econometrics.

Master of Arts in Econometrics

The features of existing statistical tests and methodologies for estimating unknowns in the model are investigated by theoretical econometricians. They also want to create new statistical processes that are valid (or robust) in the face of economic data’s quirks, such as their tendency to alter at the same time. To illustrate that the new approaches can draw proper inferences, theoretical econometrics depends extensively on mathematics, statistics, and numerical methodologies. Studying this theoretical branch of econometrics leads to an MA in econometrics online.

Master of Science in Econometrics

Applied econometricians, on the other hand, use theorists’ econometric tools to convert qualitative economic assertions into quantitative ones. Because applied econometricians are closer to the data, they frequently encounter data qualities that cause issues with existing estimate procedures and notify their theoretical counterparts. For example, the econometrician might notice that the data variance (the difference between individual values in a series and the overall average) changes over time. Studying this applied econometrics branch leads to an MS in econometrics online. A Master of Science in Applied Econometrics and Forecasting is an example of a typical program. 

Master of Business Administration in Econometrics

The econometrics and statistics MBA concentration teaches students to view, organize, and interpret vast amounts of data to be better informed and make better business decisions. Students will learn advanced regression tools, study financial applications such as volatility modeling and value-at-risk calculations, and leverage big data to learn about behavior. Students will also examine the real-world application of finance theory to answer key questions. This branch of study typically deals with the application of data models in terms of marketing and management requirements.

All the above graduate degrees would require 24 months of study and credit requirements of around 36.

Specializations in Master Econometrics Programs

One can study and explore many different elements and fields within a certain branch of study. These specialized branches of study fall under the category of specialization. A specialization normally involves going in-depth on the key subject selected for the study. Supporting or minor subjects must be chosen in addition to the major to support the specialty. The professional paths that various life science specializations might lead students to are listed below: 

Area of Specialization Description Career Options 
Master of Applied Science in Data, Economics, and Development Policy The global struggle against poverty is now more data-driven than ever. Understanding and creating robust evidence is becoming increasingly important for people attempting to effect global change, yet opportunities to learn these abilities are limited. A master’s program in Data, Economics, and Development Policy (DEDP), which combines online coursework with a short residential campus stay, has been created to meet this growing demand and equip development professionals around the world with the tools they need to make effective decisions on some of the world’s most difficult questions. Teaching, auditing, statistician, computer science or programming 
MBA in Econometrics and Statistics The MBA in Econometrics and Statistics prepares students in the field of business statistics, financial economics, and statistical Insight into Marketing, Consulting, and Entrepreneurship. Marketing analytics, business consulting, entrepreneurship, applied economist 
Master of Arts in Economic Development Programming This degree program aims to provide advanced instruction in developing programming’s fundamental techniques and their application to real-world challenges in poor nations. Behavioral economics, economic policy and development, economic consulting, financial economist, big data economist 
Econometrics and Mathematical Economics This degree program aims to apply mathematical and statistical methods to solve real-world challenges. Economist, financial auditor, econometrician, banker, investor 

Curriculum and Skills Gained in Master Econometrics Online Programs

Depending on the specialization and area of study in the field of econometrics that is chosen, the subjects and curricula will change. Here are some topics and skills covered in a master’s in econometrics online program. 

Curriculum/Course Description/Skills Gained 
Microeconomic Theory The primary goal of this course is to explain and forecast the behavior of consumers and firms and the performance of specific markets under alternative market structures. Topics include supply and demand, individual and market demand, consumer behavior, production, cost function, and competitive and monopolistic markets/strategies. 
Economics and Game Theory Game theory is a means of studying strategic behavior. What is strategic behavior? It is conducted by a person or a firm, for example, intended to achieve a specified goal, e.g., finding a low purchase price for a commodity or generating a high-profit level. 
Industrial Organization This class discusses the economic analysis of the structure of industries and firms in America and other advanced economies, including production policies, relations between structure, competition, and efficiency. Other topics to be discussed include strategic behaviors, patents and technological change, international trade, and monopolies. 
Math for Economists This course in mathematical economics will provide the mathematical tools and methods frequently used to design models for economic analysis. Linear algebra, multivariable calculus, and optimization theory are the main topics of the course, and applications to simple economic models will be emphasized. Prerequisites are courses in elementary economics and calculus. 
Econometrics 1 This course aims to spell out and thoroughly discuss fundamental concepts and procedures used in econometric practices. The course begins with a review of descriptive measures for large data sets (i.e., mean, mode, standard deviation, etc.), normal and binomial distributions, estimation, testing of hypothesis, and proceeds to study probability distributions, point and interval estimations, analysis of variance and two-variable regression. 
Economics of Fluctuation & Forecasting This is an introductory course for time series analysis with an emphasis on prediction. Forecasting is important in the decision-making process of economic agents because of the simple fact: that most economic variables of interest vary randomly over time. 
Empirical Methods in Financial Economics This course focuses on the empirical aspects of financial economics. Students will learn how to use econometrics creatively to generate stylized factors or test the implication offered by economic theories. Today’s capital markets are becoming increasingly sophisticated and involved with many important economic problems, such as the allocation of resources, economic stability, and growth under uncertainty. 
Economics of Asset Valuation This course develops methods of asset valuation based on equilibrium concepts in micro and macroeconomics. Furthermore, this class teaches techniques to analyze financial contracts whose payoffs are contingent on fluctuation in economic activity. The course focuses on explaining a genuine relationship between consumption-saving decisions and asset pricing under the general equilibrium framework, as well as on model-building skills for advanced research in financial economics. 
Economics of Risk Management This course develops methods of asset valuation based on equilibrium concepts in micro and macroeconomics. Furthermore, this class teaches techniques to analyze financial contracts whose payoffs are contingent on fluctuation in economic activity. The course focuses on explaining a genuine relationship between consumption-saving decisions and asset pricing under the general equilibrium framework, as well as on model-building skills for advanced research in financial economics. 
Topics in International Economics This course studies advanced topics in international economics, with a special emphasis on applying recent trade theory and policy to the current world economy. Topics to be emphasized include the new theories of trade with scale economy and imperfect competition, strategic commercial policies with tariffs, quotas, and voluntary trade restraints, the issues of unfair trade practices such as dumping and trade subsidies, formation of free trade areas such as NAFTA, regional economic integration such as the European Union, the balance-of-payments crisis, currency devaluation, the role of IMF, and the international policy coordination. 

Accreditation for Master Econometrics Online Programs

The accreditation process involves evaluating an institution’s educational standards by the criteria and regulations of the certifying authority. For a student’s degree to be accepted by the field they are entering or by universities for admission to graduate programs, accreditation is a must. More importantly, one must ensure that the institution they are enrolling in has received accreditation from one of the nationally recognized accrediting bodies to be eligible for US federal student aid. Accreditation is, then, essentially the enforcement of quality. Study up on accreditation

Students learning about accreditation should keep in mind that colleges that give graduate degrees in the field of econometrics are typically accredited on an institutional level rather than at the level of individual master’s programs. One agency that assesses institutions rather than programs within institutions is the Middle States Commission on Higher Education (MSCHE). In addition to other services, MSCHE offers its member institutions education. It is referred to as an institutional accreditor for this reason. It is a non-profit membership organization with a wide range of purposes, student populations, and resources that define, uphold, and promote educational quality.

Timeline for graduation from Master Econometrics Online Programs

An online master’s in econometrics is a typical 24-month, 36-credit curriculum. While working full-time, there are certain part-time online master’s programs in econometrics that they can complete at their leisure. The prerequisites for a degree can be finished in four years for part-time students, who study three to nine credits every term. The credit hours required to finish the course remain the same at 36. 

The difference between synchronous and asynchronous learning is another feature of online master’s programs in econometrics. A student can take advantage of the independence and flexibility that the mode of study offers a student, depending on the course of study they choose. Most of the time, asynchronous learning provides a lot of flexibility. Although there is usually a deadline in sight, asynchronous students have the freedom to work at their own pace and access their course at any time and from any location. It is an economical way to train students who are stationed at varied locations.

Master Econometrics Online Programs Admission Requirements

Although there might be a certain specific prerequisite for a particular course or graduate program, the following would be the general requirements for an online masters in econometrics: 

  • Possess a bachelor’s degree in economics from a recognized university. 
  • Have completed the previous 60 undergraduate credits with a minimum 3.0 GPA. 
  • Include a writing sample in economics. 
  • Include a polished résumé.

In addition to the basic requirements, certain schools could also need a GRE, work experience, and employer recommendations. These are the usual requirements for a master’s degree in the life sciences. OMC has materials specifically for the GRE and GMAT available for those who want to do more research.

Master Econometrics Online No GRE Programs

For those applying to graduate programs in business and law and STEM studies, as well as other fields, the GRE general test and the GRE subject tests are required. In addition to an applicant’s undergraduate grades and other requirements for graduate study, admissions and fellowship panels at thousands of graduate programs worldwide have been using GRE results for more than 60 years. 

A GRE score is often required for admission to graduate programs to enroll in the master of econometrics program. However, colleges no longer demand GRE scores for enrollment in their graduate programs. Many schools explain this shift by noting that since most graduate students today are working professionals who are enrolled in full-time employment and do not have the time to study for the GRE, their undergraduate GPA and work experience serve as the primary grading criteria for graduate admission. Universities have also become much more welcoming to students interested in pursuing higher education because enrollment in online courses is not limited. Below we list a few such programs: 

  1. Master of Science in Applied Economics: Georgia Southern University 
  2. Wisconsin Economics master’s program: University of Wisconsin–Madison

Accelerated Master Econometrics Online Programs

Enrolling in an accelerated master’s degree in econometrics may be beneficial for highly driven, full-time students of art economics with a talent for mathematics. These accelerated programs are quite demanding and move at a rapid pace, as one would well expect. They enable top students to earn graduate credits while enrolled in undergraduate coursework. However, these programs are not appropriate for everyone, so students should do their homework before applying. One such program is the Accelerated MA in Econometrics

The following are just a few of the many benefits of such programs: 

  • Completing a master’s degree in half the time and online. 
  • Lowering tuition and school fees
  • Making graduate school research more straightforward.

Free Econometrics Courses Online

We might often take education so seriously that we lose sight of the fact that some of the best courses are offered for free by the top institutions. To reach the broadest audience possible, many organizations are leveraging online channels to disseminate free education. These free online master’s in econometrics courses are examined here: 

  1. Principles of Economics: – This course is designed as an introduction to the study of economics. Participants will be exposed to the economic way of thinking and learn about the functioning of a modern market economy. 
  2. Behavioral Economics in Action: – In the course, learners will be able to a) explain and interpret the principles underlying decision-making and compare the nudging approach to other methods of behavior change, b) learn how to critique, design, and interpret the results of experiments; and c) design nudges and decision-tools to help people make better decisions. 
  3. Economics and Policies in a Biobased Economy: – In this course, students would learn to:
    • Explain the economic issues and policies affecting the biobased economy at the EU and international level 
    • Identify the important factors driving the development of the circular bioeconomy 
    • Assess the development of the circular bioeconomy from an economic perspective 
    • Understand the key differences between biofuel mandates and price links
    • Upgrade knowledge about recent trends in the circular economy and sustainable business.

How to Pay for Master Econometrics Online Programs

How one pays for one’s online master’s in econometrics course fees is crucial, especially with the current state of student debt, the expense of education, and the average amount of debt each student bears. Scholarships are the shrewdest method of education funding. 

It may happen that a candidate does not meet the requirements for a scholarship; in this case, if the candidate is a working professional, they might inquire about tuition reimbursement from their employers. Applying for a student loan is the alternative method of funding an online master’s degree in econometrics. Additionally, students can find out if they qualify for federal student aid via FAFSA.

Scholarships for Master Econometrics Online Programs

Scholarships are financial awards to students for their education based on their academic performance or other factors, including their financial needs. The two most common sorts of scholarships are awarded based on merit and need 

Applying for scholarships is something we strongly advise students who are interested in applying for online masters in econometrics schools. The proper committees analyze and choose the awards recipients, which are given based on merit. Students may submit more than one grant application, provided they are eligible, but they are only permitted to be awarded one scholarship. 

For those considering an online master’s in econometrics, the following scholarships are listed:

University of North Texas Graduate Scholarships

The University of North Texas, Department of Economics, offers graduate scholarships to students whose major is economics and who have a GPA of at least 3.0.

Amount/Award: Varies 

Deadline: Closed for 2023 | TBA for 2024

Risk Management Association (RMA) Scholarships

In an effort to promote diversity, equity, and inclusion in the financial services sector, the Risk Management Association (RMA) offers scholarships to students at historically black colleges and universities. These scholarships are intended to help students interested in professions in financial services.

Amount/Award : $2,000 each

Deadline: Closed for 2023 | TBA for 2024

Mercatus MA Fellowship

The Mercatus MA Fellowship is a two-year, competitive, full-time fellowship program for George Mason University master’s degree students interested in pursuing an advanced degree in applied economics, to prepare for a career in public policy. It is designed for students who want to advance their economics education but do not plan to work in academia.

Amount/Award : Total of up to $80,000 (over 2 years)

Deadline : Closed for 2023-2024 | TBA for 2024-2025

FAQs about Econometrics Masters Programs

Frequently Asked Questions

What can you do with a Masters in Econometrics?

Types of careers in economics that typically either require or benefit from a master’s degree include:

  • Economist 
  • Consultant 
  • Professor 
  • Policy Analyst 
  • Budget Analyst 
  • Market Researcher 
  • Data Scientist 
  • Statistician

Is it worth getting a master’s degree in econometrics?

What jobs use econometrics? 

What is MS in econometrics and Mathematical Economics?

Is a masters in econometrics hard?

Why do a master’s in econometrics?

Careers and Salary Outlook for Masters in Child Development Graduates

After completing an online master’s program in econometrics, a wide range of job options become available. From econometric modelers, risk analysts, and trading analysts to senior roles like economic advisers, directors of financial services or wealth management firms, or heads of academic departments. We go over a few of these jobs below: 

Occupation Median Annual Salary Job Growth (up to 2030) Job Description 
Economists $105,630 13% (faster than average) The production and distribution of resources, goods, and services are studied by economists through data collection and analysis, trend research, and evaluation of economic concerns. Economic analysis is used by economists to examine issues in a wide range of disciplines, including education, health, development, and the environment. While others look at employment levels, economic cycles, currency rates, taxation, inflation, or interest rates, some economists focus on the cost of goods, healthcare, or energy. 
Actuaries $105,900 24% (much faster than average) Actuaries examine the monetary costs associated with risk and uncertainty. They estimate the risk of prospective events using mathematics, statistics, and financial theory, and they assist clients and corporations in creating policies that reduce the price of that risk. The job of actuaries is crucial to the insurance sector. Actuaries gather data using database management systems. They predict the likelihood of an event happening, the possible expenses of the event if it does occur, and whether the insurance company has enough money to cover future claims using statistical and modeling software. 
Budget Analysts $79,940 5% (slower than average) Budget analysts support the financial planning of both public and commercial enterprises. They create budget reports and keep an eye on company spending. They operate and develop the organization’s budget in collaboration with the program and project managers. Budget analysts provide financial advice to a variety of institutions, including universities, government agencies, and for-profit businesses. 
Financial Managers $131,710 17% (much faster than average) The financial stability of an organization is the responsibility of the financial managers. They prepare financial reports, oversee investment activities, and plan for the organization’s long-term financial objectives. Most of the financial manager’s time is spent evaluating data and giving senior managers advice on how to increase profitability. They frequently collaborate in teams and serve as advisers to high management. 
Financial Advisors $94,170 5% (slower than average) Financial advisors help people manage their finances by offering guidance on investments, insurance, mortgages, estate planning, taxes, and retirement. Financial advisors evaluate clients’ financial needs and guide decisions about investments (such as stocks and bonds), tax regulations, and insurance. 
Postsecondary Teachers $79,640 12% (faster than average) Beyond high school, postsecondary professors instruct students in a range of academic topics. They might also carry out research and write and publish academic books and papers. Postsecondary educators, sometimes known as professors or faculty, have a wide range of expertise. Professors are arranged into departments at colleges and universities according to their majors, such as history, physics, or business. 

Certifications and Licensing for Econometrics Graduates

It is always recommended for newcomers entering the industry to get certifications from established professional organizations in their field of study to connect with established players and find greater acceptance in the industry, even though there are no state or federal certification or licensing requirements to practice the profession of econometrics. 

Upon completion of their master’s econometrics online degree, students may enroll in the following certificate programs for a glimpse into their future working subjects: 

  1. Econometrics: Methods and Applications: – Knowing econometrics enables professionals to convert data into models for forecasting and decision support in a range of domains, including macroeconomics, finance, and marketing. Introductions to simple and multiple regression are covered in the first few lectures of this course, which is followed by courses on endogenous variables, binary choice data, time-series data, and issues of particular interest. By watching the videos with in-video quizzes and completing post-video training exercises, one can understand these important econometrics concepts. 
  2. Econometrics for Economists and Finance Practitioners Specialization: – Through the study of theoretical ideas, the examination of instances based on actual data, and the application of econometric methods to issues pertinent to the business world, this specialization offers thorough instruction in econometric methodology. An informed approach to economic and financial decision-making is facilitated by the approaches covered in this specialization.

Additional Resources for Econometrics Professionals

After earning an online master’s econometrics degree in a chosen area of econometrics, joining a professional organization dedicated to the subject of study would be a tremendous step ahead. It immediately links students to their industry colleagues and keeps them up to date on the most recent trends in the field. Another crucial service provided by associations that aids professionals in improving and demonstrating their abilities are accreditation. Below, we examine a few of these organizations: 

  1. American Economic Association – An academic organization in the study of economics is called the American Economic Association. It publishes several peer-reviewed journals that are well-known in academia and business. More than 23,000 people make up the membership of the organization. 
  2. World Economics Association – A professional organization, the World Economics Association, was established in 2011 to advance a pluralistic view of economics. One of its guiding values is inclusivity toward the various theoretical viewpoints and practical applications of economics, as well as global membership and governance. 
  3. Society for the Advancement of Economic Theory – The Society for the Advancement of Economic Theory, also known as SAET, is a non-profit membership organization that was established with the mission to “advance knowledge in theoretical economics and to make it easier for academics in economics, mathematics, game theory, or any other area that might be relevant to economic theory to communicate with one another. 
  4. National Association for Business Economics – The largest international organization of strategists, academics, and policymakers who are committed to using economics in their work is the National Association for Business Economics. It was established in 1959 and is a part of the Allied Social Science Associations. 
  5. National Economic Association – The National Economic Association is an academic organization founded in 1969 focusing on economics-related issues. The Association seeks to “improve the professional life of minorities within the profession.
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