Shilpee Singh
Written By - Shilpee Singh

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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 aims to transform qualitative assertions, such as the positive association between variables, into quantitative statements. Econometricians convert economic theorists’ models into estimable forms. According to the Bureau of Labor Statistics, the employment of economists is projected to grow 6% from 2021 to 2031[1]. Econometric approaches are employed in various disciplines of economics, including finance, labor economics, macroeconomics, microeconomics, and economic policy. Economic policy decisions are rarely made without conducting an economic analysis to determine their impact.

Master Econometrics Online

Table Of Contents

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®.

The Best Master’s in Econometrics Online Programs

When selecting a master’s program, deciding on the specific program, school, and university can be challenging. Considerations such as cost, placements, starting wages, employment rates, acceptance rates, and more play a crucial role. The OMC  team meticulously examined these factors to create a ranking of the best online econometrics degrees. Master in 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, annual tuition, or even an asynchronous program the student is interested in. Here is the list of the best masters in econometrics:

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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

What Master’s in Econometrics Online Programs Entail

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 easily. The program’s curriculum delves into the intricate mathematics underlying economic complexity and focuses on econometric theory, panel data, and micro and financial econometrics. 

This 36-odd credit program can be taken entirely online, offline, or as a blend. 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 allows individuals to specialize in their area of interest, which can lead to many interesting and rewarding jobs.

Curriculum and Skills You’ll Gain

The Master’s in Econometrics curriculum is based on chosen specializations and areas of study. Variations in subjects and curricula are tailored to meet the specific focus within econometrics. This flexibility allows students to customize their learning experience, ensuring relevance to their career goals and interests within the dynamic and multifaceted field of econometrics. Here are some topics and skills covered in a master’s in econometrics online program.

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 mathematical economics course will provide the tools and methods frequently used to design models for economic analysis. Linear algebra, multivariable calculus, and optimization theory are the course’s main topics, 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, and hypothesis testing. It 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 emphasizing prediction. Forecasting is vital 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 implications offered by economic theories. Today’s capital markets are becoming increasingly sophisticated and involve many critical economic problems, such as the allocation of resources, economic stability, and growth under uncertainty. 

A student gains several abilities from this chemical engineering degree, including:

  • Proficiency in data collection and manipulation
  • Expertise in econometric modeling and forecasting
  • Ability to analyze economic trends and make informed predictions
  • Strong statistical knowledge and application
  • Understanding of economic theory and its practical applications
  • Proficient in using statistical software and programming languages
  • Enhanced problem-solving and critical-thinking abilities
  • Effective communication of complex economic concepts

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 (MA in Econometrics)

Theoretical econometricians investigate the features of existing statistical tests and methodologies for estimating unknowns in the model. 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 (MSC 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 (MBA) 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 critical questions. This branch of study typically deals with applying 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 for Econometrics Students

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 usually involves going in-depth on the key subject selected for the study. Supporting or minor subjects must be chosen besides the major to support the specialty. The professional paths that various life science specializations might lead students to are listed below:

Area of FocusDescriptionCareers This Concentration Prepares For
Financial EconometricsFinancial Econometrics uses advanced statistical methods to analyze financial data, such as stock prices and interest rates. It involves modeling and forecasting financial variables, assessing risk and volatility, and examining the relationships between financial variables and economic factors.– Quantitative Analyst – Risk Analyst – Financial Consultant
Spatial EconometricsThis specialization explores the spatial dimension in economic phenomena by analyzing data exhibiting spatial dependence or heterogeneity and examining spatial patterns and relationships to understand regional development, urban economics, and environmental economics.– Urban Planner – Market Research Analyst – Real Estate Analyst
Applied MicroeconometricsApplies econometric methods to analyze individual-level data and estimate causal relationships in microeconomic settings, such as labor markets, education, health, and public policy evaluation.– Data Analyst – Development Economist – Policy Analyst
Time Series AnalysisThis specialization focuses on studying data that varies over time to uncover patterns and relationships and forecast future values. It employs statistical techniques like ARIMA models and exponential smoothing to analyze economic indicators, financial data, climate patterns, and other time-dependent phenomena, aiding in prediction and decision-making.– Market Research Analyst – Risk Manager – Data Scientist
Panel Data AnalysisThis specialization analyzes data collected from multiple individuals, firms, or countries over time. It addresses individual heterogeneity and time effects, allowing for the identification of causal relationships. Techniques such as fixed-effects and random-effects models are used to examine panel data and derive valuable insights in various fields like economics, social sciences, and public policy.– Panel Senior Analyst – Market Researcher – Informatic Data Analyst

Numerous institutions also provide combined programs with a concentration in econometrics. These alternatives, similar to a master’s in econometrics, are ideal for students aiming to diversify their academic pursuits by delving into an additional field alongside econometrics. Some options include but are not limited to:

Graduation Timeline

Typical Timeline: 2 years

Credits to Completion: 36

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 can work at their own pace and access their course at any time and from any location. It is an economical way to train students stationed at varied locations.

Accelerated Master’s in Econometrics Online Programs

Enrolling in an accelerated master’s degree in econometrics may benefit 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 suitable for everyone, so students should do their homework before applying. 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.

Admission Requirements for Master’s in Econometrics Online Programs

Although there might be a certain specific prerequisite for a particular course or graduate program, the following would be the general admission requirements for an online master’s 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’s in 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 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 are a few such programs:

  1. Master of Science in Applied Economics: Georgia Southern University2
  2. Wisconsin Economics master’s program: University of Wisconsin–Madison3

Accredited 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 necessary. More importantly, one must ensure that the institution they are enrolling in has received accreditation from a nationally recognized accrediting body to be eligible for U.S. federal student aid. Accreditation is, then, essentially the enforcement of quality. Universities are typically accredited by one of the six regional accreditation authorities, which are:

Free Online Econometrics Courses

In econometrics, students can enroll in free courses that provide a deeper understanding of the subject. These courses also offer valuable insights into the practical aspects of the profession. While certificates of completion may be awarded upon finishing these courses, it’s important to note that they may not hold the same validity as accredited programs recognized by organizations. Here are some free courses available in econometrics:

CourseEconometrics: Methods and Applications5
Provided byCoursera
DescriptionThis course offers a comprehensive introduction to econometric techniques and their real-world applications. Participants will learn to analyze economic data, estimate econometric models, and interpret empirical results. Through interactive exercises and case studies, learners will gain practical skills in econometric analysis, enabling them to make informed decisions and draw meaningful insights from economic data.
CourseEconometrics: Simple Linear Regression (Mistakes to Avoid)6
Provided byUdemy
DescriptionThis course focuses on the fundamental concept of simple linear regression in econometrics. It helps learners understand the common mistakes to avoid while working with linear regression models. The course equips students with the necessary skills to accurately apply and interpret simple linear regression in econometric analysis by providing practical examples and guidance.
CourseIntroductory Econometrics7
Provided byClass Central
DescriptionThis course thoroughly introduces students to fundamental econometric concepts and techniques. It encompasses statistical aspects such as hypothesis testing, estimation, and diagnostic testing for simple and multiple regression models. Additionally, the course covers the consequences of violating ordinary least squares (OLS) assumptions, methods for testing misspecification in regression models, and the impact of errors in variables. The course aims to achieve specific objectives, including analyzing the nature and scope of econometrics, understanding hypothesis testing, exploring the implications of OLS assumptions, and discussing specification bias and errors in variables.

How to Pay for Master’s in Econometrics Online Programs

The cost of an online master’s in econometrics program in the United States may vary. Factors such as program type (thesis or non-thesis), location, and additional expenses for resources and travel can influence the overall cost. Recognizing the financial burden, students interested in pursuing a master’s in econometrics can explore various funding options, including:

Private student loans: Students can secure educational loans from private institutions, national banks, and other private lenders. Grants and donors can offer financial aid to help students repay these loans.

Scholarships: Scholarships are merit-based funding opportunities that students can apply for based on their academic achievements or other merits like sports or music. They do not need to be repaid.

Grants: Grants are financial aid provided by educational institutions, non-profit organizations, and state or federal governments. Unlike scholarships, grants can be awarded based on financial need rather than solely on merit.

FAFSA: The Free Application for Federal Student Aid (FAFSA) is a form used to determine a student’s eligibility for federal financial aid. By completing the FAFSA, students can access funding from various institutions. For detailed information, students can refer to the FAFSA guide.

Federal direct loans: Federal direct loans are low-interest loans the government provides. Students must repay these loans after graduating or when they enter the workforce.

Fellowship: A fellowship is a competitive academic or professional program financially supporting individuals pursuing advanced studies or research in a specific field, often through a stipend or grant. It offers valuable opportunities for learning, networking, and contributing to scholarly or professional endeavors.

To understand how to pay for college, refer to the financial aid guide.


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 scholarships are awarded based on merit and need.

Applying for scholarships is something we strongly advise students who are interested in applying for online master’s in econometrics schools. The proper committees analyze and choose the award 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:

Dr. Helen D. Snow Memorial Scholarship Fund8

The Dr.Helen D. Snow Memorial Scholarship, managed by Phi Chi Theta Fraternity, supports graduate students pursuing a master’s or doctoral degree in business or economics. Eligible applicants must be national members of Phi Chi Theta and will be evaluated based on their contributions to the chapter, involvement in community service, and academic accomplishments.

Amount/Award: $500

Application Deadline: Varies

FWSF Scholarship9

The Financial Women of San Francisco (FWSF) offers a scholarship opportunity specifically for women residing in the San Francisco Bay Area pursuing a bachelor’s or master’s degree in financial fields. Applicants must maintain a minimum GPA of 3.0.

Amount/Award : $15,000

Application Deadline: TBA

Wong: Helen and L.S. Wong Memorial Scholarship10

The Wong: Helen and L.S. Wong Memorial Scholarship is a scholarship program established in honor of Helen and L.S. Wong. It provides financial support to undergraduate or graduate students pursuing studies in business, economics, or related fields. The scholarship aims to recognize academic achievement and support students in their educational pursuits.

Amount/Award : $1000 to $3000

Application Deadline : Varies

Please be cautious about scholarship scams and verify the legitimacy of any offers received.

Career Paths and Average Salaries for Econometrics 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 
Economists1$113,9406% (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. Economists use economic analysis 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.
Actuaries11$113,99023% (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.
Financial Managers12$139,790 16% (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 advising senior managers on increasing profitability. They frequently collaborate in teams and serve as advisers to high management.
Personal Financial Advisors13$95,39013% (much faster 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 investment decisions (such as stocks and bonds), tax regulations, and insurance.
Professor Economics14$128,469No Data AvailableThe Economics Professor instructs classes within the field of economics, formulating curriculum strategies to enhance student education, encourage interactive class dialogues and guarantee active student participation. They offer guidance and academic mentorship, manage academic records about classes, and evaluate student assignments. The professor collaborates with peers on research pursuits and supplementary educational undertakings. Their usual reporting authority is the departmental head. This role necessitates a Ph.D. or a terminal degree pertinent to the discipline.

Certifications and Licensing for Econometrics Graduates

While there may not be specific certifications and licensing exclusively tailored for econometrics graduates in the USA, these professionals can pursue certifications in related fields. For instance, they can consider certifications in data analysis, such as certifications like, Chartered Financial Analyst (CFA)15 or Certified Business Analytics Professional (CBAP)16. These certifications signify a highly effective business analysis professional’s knowledge, competencies, and experience. These certifications also distinguish professionals from employers and peers, highlighting dedication to the career and the business analysis profession. CBAP-certified professionals experience increased compensation, with up to a 13% higher earning potential.

Additionally, econometrics graduates can explore certifications in specialized areas like risk management, business economics, or fraud examination, which can complement their econometric skills and broaden their career opportunities.

Additional Resources for Students

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 associations provide that aids professionals in improving and demonstrating their abilities is accreditation.

  1. American Economic Association17: The American Economic Association is an academic organization dedicated to studying economics. 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 Association18: 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 Theory19: 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 Economics20: The largest international organization of strategists, academics, and policymakers 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 Association21: 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.

FAQs About Master’s in Econometrics Online Programs

What can you do with a Master’s in Econometrics?

With a Master’s in Econometrics, individuals can pursue a range of career paths. Opportunities include working as an econometrician, data analyst, or research economist, utilizing advanced statistical and mathematical techniques to analyze and interpret economic data, make forecasts, inform policy decisions, and contribute to various sectors such as finance, consulting, and government.

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

What jobs use econometrics?

What is MS in econometrics and Mathematical Economics?

Is a master’s in econometrics hard?

Why do a master’s in econometrics?

How fast can you complete an online master’s in econometrics degree?

Is an MBA in econometrics better than a master’s in econometrics?