Master's in Economics in USA: Salary Scope, Jobs & Admission Insights

Master's in Economics in USA suits students who want a clear path into finance, policy, research, or analytics. In 2023, economists in USA earned a median salary of $115,730 (₹96 lakh). The job outlook is steady too, with a 5% growth expected between 2023 and 2033.

Most programs last between 18 to 24 months, with options to choose between research-based or applied economics tracks. Graduates often take up roles as economic analysts, consultants, or policy advisors in banks, think tanks, and tech firms. 

This page covers all the information you need about Master's in Economics in USA - top universities, tuition fees, job roles, salary trends, eligibility, and how to apply step by step.

If you're still exploring similar options, here are a few related courses you can consider:

– Master’s in Finance in USA for roles in investment banking, corporate finance, and analytics.

– Master’s in Management in USA if you’re looking to blend economics with leadership.

– Or explore Accounting Courses in USA if you're interested in roles involving financial reporting and audit.

Highlights of Master's in Economics in USA

Source: https://www.bls.gov/ooh/life-physical-and-social-science/economists.htm 

On average, about 1,000 job openings for economists are expected each year from 2023 to 2033. Most of these roles will open up as current professionals retire or shift to other careers. This steady demand points to stable career opportunities for graduates entering the field.

Curious how USA compares with other destinations? Read USA vs Germany and Canada vs USA for side-by-side comparisons of study costs and job scope.

Not sure about the exams? This guide on What Exams Are Required to Study in USA includes GRE, TOEFL, IELTS, and more.

Top Universities for Master's in Economics in USA

The right university builds your foundation in economics and shapes your job options after graduation. A well-structured Master's in Economics in USA teaches theory, data skills, and applied research through real-world casework and advanced tools.

Here are top-ranked universities that offer strong economics master’s programs for international students:

Top Universities for Master's in Economics in USA

What Should You Focus On While Shortlisting?

• Course flexibility: Some programs allow you to pick electives in data, finance, or policy
• STEM designation: Helps with extended OPT work eligibility
• Location: Cities like New York, Boston, or Chicago offer better access to internships
• Research focus: Check for faculty profiles and recent projects tied to your interests

Every program has strengths. The best choice depends on your career goal—whether you plan to work in global finance, government policy, or private consulting.

Focus Areas in Master's in Economics in USA

Most universities offer core economic theory and econometrics. But many allow you to specialize in a track that suits your long-term career plan. Each focus area in a Master's in Economics in USA leads to different roles across the public, private, or academic sectors.

Here are some of the most popular specializations and where they can take you:

Some universities allow flexible electives, while others follow a fixed course plan. Always review course outlines before applying.

Eligibility for Master's in Economics in USA

To get into a Master's in Economics in USA, you need a great academic background and fundamentals in mathematics or economics. Universities also look at your quantitative readiness—often through test scores and transcripts.

Who Can Apply?

1. Accepted Undergraduate Degrees

2. GPA Requirements

Some universities may accept lower scores with a strong GRE or research profile.

3. GRE Score Expectations

GRE waivers may apply for select universities or applicants with strong math backgrounds.

4. English Language Tests

Some universities waive English tests if your undergrad was in English.

5. Preferred Academic Subjects

Having these subjects on your transcript improves your academic fit and readiness for coursework.

• Macroeconomics
• Microeconomics
• Calculus
• Linear Algebra
• Statistics

Some universities are test-optional or waive GRE if you have relevant academic or research experience. Still, a strong quant score often helps if you're applying to highly ranked or research-intensive programs.

Settling in? Here’s what to expect with Student Accommodation in USA.

Understand the grading system, course structure, and academic culture in this Education System in USA breakdown.

Admission Process for MS in Economics in USA

Applying to a Master's in Economics in USA involves a few key steps. Each university has its own process, but most follow a similar application timeline and format. Starting early gives you more time to prepare strong documents and improve your chances of getting funding.

Step-by-Step Application Process

Documents Required

• Statement of Purpose (SOP)
• Letters of Recommendation (2–3, academic or professional)
• Academic transcripts (semester-wise or consolidated)
• GRE and TOEFL/IELTS scores
• Resume or CV
• Passport scan
• Optional: proof of work/internship, academic awards, or research papers

Always check the university’s official checklist. Some ask for writing samples or math coursework evidence.

Wondering if the US is still the right call? This blog on Why USA for Masters makes a strong case.

Concerned about political changes? Read How Trump’s Victory Impacts Indian Students to stay informed.

Scholarships for MS in Economics in USA

Funding options are available for international students pursuing an MS in Economics in USA, but many are competitive. Scholarships come from government bodies, universities, departments, and sometimes private donors. You can also apply for research or teaching assistant roles once admitted.

Types of Scholarships Available

Most assistantships are offered after admission. They often depend on department budgets and available research openings.

Popular Scholarships for MS in Economics in USA

Some scholarships like Fulbright and Inlaks require a separate application up to 9–12 months before your course begins.

Tip: Always check if the economics department at your target university offers specific funding for international students. Some programs even list faculty-funded RA positions or course-specific fellowships on their site.

How to Apply for Scholarships

• Most universities automatically consider applicants for merit aid
• External scholarships need separate applications with earlier deadlines
• Strong SOPs, GRE scores, and academic records improve chances
• Assistantships are often awarded after admission, based on departmental needs

Looking for funding? Explore top Scholarships for MS in USA and How to Get Scholarships to Study in USA for Indian Students.

Career Opportunities After MS in Economics in USA

With an Master's in Economics in USA, one can get into high-value roles across sectors like consulting, finance, policy, tech, and international development. USA employers seek graduates who can work with data, analyze complex systems, and offer actionable insights for business or policy outcomes.

Here’s where most economics grads find career traction:

Popular Job Roles

• Economic Analyst
• Policy Research Associate
• Financial Analyst or Investment Strategist
• Data Scientist / Quantitative Analyst
• Economic Consultant
• Risk Analyst
• Research Economist (Think Tanks or NGOs)
• Public Policy Associate
• International Trade Specialist
• Business Intelligence Analyst

Where Do MS in Economics Graduates Work?

Average Salary Ranges

Graduates in STEM-designated programs with strong data skills often earn on the higher end of the range.

Cost of Studying MS in Economics in USA

Before applying to a Master's in Economics in USA, it’s important to plan your finances. USA tuition and living expenses vary based on location, university type, and personal choices. Scholarships, assistantships, and fellowships can ease the burden, especially for strong academic profiles.

Monthly Living Costs (City-wise Range)

Rent is the biggest factor. Shared housing or on-campus options can lower overall costs.

Other Key Expenses

What Helps You Save?

• Scholarships: Merit-based awards and external fellowships
• Assistantships: Part-time work as a TA or RA with tuition benefits
• Paid internships: Many programs offer CPT or co-op opportunities

You can also explore funding options listed by the economics department of your chosen university. Some offer automatic merit scholarships at the time of admission.

Planning your budget? This guide on Cost of MS in USA explains tuition, housing, and living expenses.

Work Visa Options After MS in Economics in USA

After completing a Master's in Economics in USA, international students can legally stay and work through Optional Practical Training (OPT) and later apply for long-term work visas like the H-1B. Planning ahead improves your chances of staying and building your career in USA.

OPT Timeline and Eligibility

If your economics program is STEM-designated (quantitative track), you can apply for a 24-month OPT extension.

H-1B Visa Process

Roles in data, analytics, and policy with tech or finance firms often qualify for H-1B.

Green Card or PR Possibilities

Green Card processing can take several years, but many economics graduates working in STEM or policy roles begin this journey through long-term employment.

Visa planning? Get full clarity with Student Visa for USA and USA Study Visa Requirements.

Is Master's in Economics in USA Worth It?

If you’re aiming to build a career in economics, finance, data, or policy at a global level, a Master's in Economics in USA is an investment. The academic exposure, work opportunities, and long-term pathways make it a smart option for many Indian students.

Why It’s Worth Considering

• Access to top-tier education and global faculty
• Strong job roles in consulting, analytics, and economic policy
• Starting salaries from $65,000–$85,000 per year (₹54–₹71 lakh approx.)
• 1–3 years of post-study work rights under OPT/STEM OPT
• Clear track to H-1B and employer-based Green Card in many sectors

What to Keep in Mind

• Costs are high; plan for tuition + living expenses (~₹35–₹50 lakh total)
• Top jobs often require strong quant and communication skills
• Assistantships and scholarships can reduce costs significantly
• STEM tracks offer more flexibility for staying and working after graduation

In short: If you’re serious about economics as a long-term career, USA gives you a launchpad. The value grows with the right specialization, internships, and industry connections.

Need help finalizing your university or course? Book a free counseling session with an expert to plan your master's in USA the right way.

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