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Graduate Degree Program in International Economics Overview

Majors Overview May 8, 2015

Get information about graduate degree programs in international economics and their education requirements, coursework, and job and wage outlook.

Master of Science (M.S.) Programs in International Economics

Students enrolled in the Master of Science (M.S.) in International Economics learn about the cause and effect relationships of the economic forces that stimulate the global market. Analytical and quantitative skills are developed by students to augment techniques that help them study the fluctuating international markets.

While schools require some previous education from applicants, a bachelor’s degree in economics is not mandatory for admittance to every master’s program. Armed with a master’s degree, students can seek jobs in public and private consulting and finance companies at the international and local levels.

Education Requirements

Admission criteria typically require incoming students to hold a bachelor’s degree, in addition to a minimum GPA of 3.0 or scores from the GRE or GMAT. While applicants need not hold a bachelor’s degree in economics, a student’s background must include several classes about calculus, macroeconomics, and microeconomics.

Coursework

Advanced and intermediate courses in mathematics and economics are augmented by core coursework in topic areas such as the following areas of study:

•Developing economics
•Managing investments
•Advanced math models
•Corporate finance and economics
•Economic law
•Advanced macroeconomics and microeconomics
•International trade regulations and policies

Job and Wage Outlook

Over the 2012 – 2022 decade, a job growth of 14% has been predicted for economists, including international economists (U.S. Bureau of Labor Statistics). In May 2014, general operations managers brought in an average annual wage of $117,200.

Doctor of Philosophy (Ph.D.) Programs in International Economics

A strong foundation and in-depth knowledge in modern and historical economic theory are imparted to students in a Ph.D. program in International Economics. Students enrolled in the program are taught about researching and analyzing past and current international issues in the economic market, including international trade fluctuation, taxation in different markets, and international policies and regulations.

Students can become adept at analyzing the ways the current economic status of different markets is affected by current investments and trades, basing such analysis on historical occurrences and current theory.

Education Requirements

Students are required to have a bachelor’s degree in a related field. In some cases, they are required to have taken courses in intermediate microeconomics and macroeconomics and have a basic knowledge of linear algebra, calculus, probability, and statistics. Some programs will allow students to finish these courses during their first year in the program.

Coursework

Advanced theories related to the analysis of historical and current international issues are taught to students enrolled in doctoral courses in international economics. Core coursework includes topic areas such as the following:

•Economic research methods and writing
•Monetary theory
•Advanced history of economics
•History of the international markets
•International financial markets

Job and Wage Outlook

Doctoral program graduates can seek various careers, including that of a professor. Over the 2012 – 2022 decade, a job growth of 19% has been predicted for postsecondary teachers (BLS). In May 2012, general operations managers brought in an average annual wage of $97,770.

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Quick Fact
In 2017, workers with a bachelor's degree or higher had almost twice as much
median earnings per week than workers with only a high school diploma*.
*Bureau of Labor Statistics

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