Economics is a crucial subject that impacts our daily lives, from making important financial decisions to understanding the current state of the global economy. Whether you’re just starting or looking to further your knowledge, there are plenty of online economics classes available that can help you gain a better understanding of this complex field.
Several factors must be considered when it comes to finding the best economics class online. For beginners, finding a course that covers the basics and provides a solid foundation for further learning is essential.
Look for classes that cover topics such as supply and demand, economic systems, and market structures. It’s also worth considering whether you prefer self-paced courses or structured lessons and assignments.
For advanced learners, it’s essential to find courses that delve deeper into specific areas of economics, such as macroeconomics, microeconomics, or international trade.
With the rise of online learning, getting started is easier than ever.
Whether you’re just beginning your economics studies or have already decided on a career path, an online economics class is an excellent way to gain valuable knowledge. This article will discuss the best online economics classes for beginners and advanced students.
Table of contents
- Why Study Economics?
- Best Economics Class Online
- 1. The Power of Macroeconomics: Economic Principles in the Real World
- 2. Economics of Money and Banking
- 4. Macroeconomics for a Sustainable Planet by edX
- 5. The Power of Macroeconomics: Economic Principles in the Real World by Coursera
- 6. The Economic Way of Thinking by Udemy
- 7. Introduction to Economic Theories
- 8. Economics: Consumer Demand
- 9. AP Microeconomics
- 10. Fundamentals of Macroeconomics
- 11. The Politics of Economics and the Economics of Politicians
- 12. Fiscal (Micro) Economics: The impact of taxes on markets (+ free certificate)
- 13. Master Five Economic Concepts: Become an Economist in Less Than One Hour
- 14. Economics and Society
- 15. Econ 101: The Complete Intro to Economics For Beginners
- 16. Managerial Economics
- 17. Governmental Economic Policy
- Is Economics a Worthwhile Degree?
- How long does it take to get an economics degree?
- What do Economists Earn?
- FAQs
- Conclusion
Why Study Economics?
There are many reasons why studying economics is essential, both on a personal level and on a broader societal level.
For individuals, understanding economics can help them make better decisions in their daily life. By understanding concepts like opportunity cost, you can make more informed choices about allocating your time and money.
On a broader level, economics is crucial for understanding how societies function and how policy decisions can impact the economy. For example, by studying macroeconomics, policymakers can make informed monetary and fiscal policy decisions to promote economic growth and stability.
Economics is also essential for businesses and entrepreneurs. Concepts like competitive advantage can help companies identify their strengths and weaknesses and develop strategies to outperform their competitors.
Similarly, understanding the principles of project economics can help businesses make more informed decisions about which projects to pursue and how to allocate their resources.
Best Economics Class Online
Here are the top economic classes online worth going for this 2023:
1. The Power of Macroeconomics: Economic Principles in the Real World
Cost: Free
Offered by the University of California, Irvine via Coursera
The first on our list of best economics classes you can take online is the Power of Macroeconomics. This is a Coursera economics course for an intermediary who wants to build an economics career. This course teaches the application of economics in professional and personal life.
The Power of Macroeconomics, offered by the University of California, Irvine, is a 16 hours short course with 12 one-hour sessions plus a final exam. You can access the lessons and videos as a student but won’t take the exam.
The exciting thing about this program is that professional tutors and instructors guide you, and you will have videos, practice exercises, readings, and more.
The only challenge with this free economics class is that you won’t get a certificate. Certificates and grading are not offered in the free version.
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2. Economics of Money and Banking
Cost: Free
Offered by Columbia University via Coursera
Economics of Money and Banking is among the top economics online classes you can go for this 2023. This class is offered at Columbia University through the Coursera platform.
It is a 13 weeks class that takes 33 hours to complete and is taught by Professor Perry G. Mehrling of Barnard College.
The topics covered include Banking as a Clearing System and market making, International Money and Banking, Banking as Advance Clearing, and Money in the Real World.
The exciting thing about taking this online class is getting subtitles in five languages, professional instructors to teach you, and a certificate after the course.
Like the Power of Macroeconomics free class, you must pay for the exam and get a certificate.
3. Financial Markets
Cost: Free
Offered by Yale University via Coursera
A summary of the concepts, procedures, and institutions that enable human society to control risks and promote enterprise is provided in Financial Markets.
This course is a 38 hours course provided by Yale University, and Robert Shiller, a Nobel Prize laureate, is the instructor.
This free course covers the same subject taught on campus twice a week in 2011, and is for students who hope to attend an IVY League college one day.
There are seven modules, each addressing a unique area of financial markets. The free online economics course aims to explain why people make financial decisions by combining conventional finance, psychological theory, and human behavior. Topics include Decision Making, Behavioral Finance, Cognitive Bias, and Behavioral Economics.
The online class has 130 videos, unique course material, and flexible deadlines.
4. Macroeconomics for a Sustainable Planet by edX
Cost: Free and $49,99 for the certificate
Offered: edX
This course, which is intermediate/advanced level, covers traditional macroeconomics theory and applications.
You will acquire the knowledge and skills to comprehend GDP, investment concepts, and the evolving labor market.
The emphasis on sustainability and environmental issues distinguishes this course. It is intended for those who have some knowledge of economics.
However, if ecology is your area of interest, this course can be just what you need to comprehend the economic forces that propel sustainable growth.
5. The Power of Macroeconomics: Economic Principles in the Real World by Coursera
Cost: Free
Offered: Coursera
A Paul Merage School of Business professor conducts this UCI-provided Coursera course. There are tests to work on in addition to the videos, and it takes about 25 hours to finish.
The target audience for this course is non-economics professionals who want to learn more about the macroeconomics of current affairs. The course curriculum is comparable to what MBA students learn in a one-semester economics class.
You’ll comprehend the fundamentals of the Classical-Keynesian argument and the Keynesian model.
6. The Economic Way of Thinking by Udemy
Cost: 13,500
Offered: Udemy
Next on our list of top economic online classes is the Economical Way of Thinking by Udemy. This course is an 18 hours on-demand video course covers some basic concepts, such as marginal costs and benefits.
During the course, students understand the economic perspective, study economics at a higher level now, and recognize ideas like marginal advantages and costs and how markets and governments operate.
They also critically evaluate existing policies and develop new ones and gain an understanding of the critical economic arguments.
While there are no formal requirements, the course is fast-paced and geared toward people who can keep up with the language of economics.
If you’re ready to read up on the ethical background of economic decision-making, this might be your best choice.
7. Introduction to Economic Theories
Cost: Free
Offered by Erasmus University Rotterdam via Coursera
The Introduction to Economic Theories is among the best online economics classes for beginners and advanced students.
This online economic class is a 41 hours class with eight weekly sessions. The course is basically for students with no economics background, although you may need to do some minor additional reading and research to stay on track as you progress.
During the class, students are given insight into four economic theories: Social Economics, Institutional Economics, Post Keynesian Economics, and Neoclassical Economics.
8. Economics: Consumer Demand
Cost: Free
Offered by Babson College via edX
This introductory course offered through edX is four weeks long and is provided through one of the top-ranked schools for entrepreneurship education, Babson College.
It’s part of a professional certificate in Financial Decision-Making for Leaders but can be taken independently. Taught by Professor John Korsak, it’s designed to teach students the simple yet challenging concept of demand. Students will learn the following:
• Why demand is a negative relationship between price and quantity
• How to identify market changes that will impact demand
• How to define the price elasticity of demand
• The relationship between price elasticity of demand and changing market conditions
The course can be taken on the edX platform at no charge, although students who want a certificate can opt to purchase an upgrade.
9. AP Microeconomics
Cost: Free
Offered by MIT via edX
AP Microeconomics is an economic course offered by MIT through edX. This class is specifically for students preparing to take the Microeconomics AP® exam.
It thoroughly reviews fundamental microeconomic ideas and covers all the content needed to pass the Microeconomics AP® exam.
Students will thoroughly study the subject matter through practical applications, understandable explanations, supplemental graphics, and math.
After finishing, you will deeply understand the fundamental microeconomics concepts and how to use them to comprehend how the real world functions.
The course itself is free. However, a verified learner certificate can be added for $49 if desired. It takes roughly 12 weeks from beginning to end, but you can move at your own pace.
10. Fundamentals of Macroeconomics
Cost: Free
Offered by Universidad Carlos III de Madrid via edX
This free online economics course will teach you everything economists know about markets. It’s intended to give students an inside look at market successes and failures and the most pressing economic issues of the day. The approach mixes practical examples and visual justifications to make relating the ideas to your life easier.
Introduction and gross domestic product are covered, along with savings and investments, the labor market, the consumer price index, money, the monetary system, inflation, open economies and exchange rates, economic volatility, and fiscal and monetary policies. The course lasts six weeks.
Although it is not necessary, students who wish to enroll will perform better if they have some prior experience in high school algebra, math, and graph reading. Despite being free, the online economics course certificate is not free. The certification is fee-based.
11. The Politics of Economics and the Economics of Politicians
Cost: Free
Offered by the University of Nottingham via Future Learn
The Politics of Economics and the Economics of Politicians Course is one of the top economic online classes available on the Future Learn platform at the University of Nottingham.
It lasts for three weeks and only requires three hours every week. Additionally, it is pre-recorded, so you may begin whenever you like. Any student interested in politics and economics can easily follow it.
Students will examine modern economics and discuss historical political figures using critical economic theories. Over 10,000 students have registered for the course, which is free.
Future Learn offers a premium upgrade that, in addition to giving you unrestricted access to the course for as long as it is hosted on the platform, also includes a certificate of completion.
12. Fiscal (Micro) Economics: The impact of taxes on markets (+ free certificate)
Cost: Free
Offered by Udemy
You can earn another free certificate by taking a Fiscal (Micro) Economics class. This class is a short course for students who want to take a brief overview of the following topics: Fiscal Economics, Taxes, Social Policy, Tax Policy, Fiscal Policy, Ethics, Mathematics, Quantitative Methods, and Calculus.
It is a one-hour course you can easily take without stress. Also, you can take it on demand and fit it in any time you like. You can even access it on mobile while you’re on the go. Upon completion, you will earn a certificate that can be displayed on your social media pages or CV.
13. Master Five Economic Concepts: Become an Economist in Less Than One Hour
Cost: Free
Offered by Jan-Willem Verstraten via Udemy
Master Five Economic Concepts is one of the online economic classes on Udemy for beginners. This one-hour course teaches five financial concepts quickly and concisely.
The course covers supply and demand, inflation and deflation, exchange rates, interest rate, and opportunity cost.
To take this class, you don’t have to pay to access the materials. And after completion, you can make better decisions in business, finance, and your personal life.
What is exciting about this class is that it has easy-to-follow modules, and it’s for students and entrepreneurs.
14. Economics and Society
Cost: $180
Economics and Society is an online economics class available for intermediate students.
This course is the course of a 22-video lesson that teaches how economics and society influence one another.
During the course, you also get to explore significant economic thought theories. You will also fully understand what causes the financial crisis, economic inequality, taxes, and healthcare.
Another exciting thing about this class is that you don’t need any prerequisites. However, it is intermediate level and not intended for beginners. On the other hand, the course is one of the most expensive classes on this list.
15. Econ 101: The Complete Intro to Economics For Beginners
Cost $18.99
Udemy offers a beginner’s course called Econ 101. It provides a thorough introduction to economics for those who have yet to gain prior knowledge.
The majority of the course material focuses on fundamental economic ideas. Included are the following: * Production rates * Supply and demand * The free market model
Additionally, there is a section about monopolies. You’ll discover how monopolies alter how economic models are constructed. You also have the option to investigate the distinction between macroeconomics and microeconomics.
There is also helpful information. Learning about interest rates and recessions is part of this. Additionally, you’ll discover how to use economic theory in practical contexts.
16. Managerial Economics
$18.99
Next on our list of best online economics classes is Managerial Economics. This intermediate course is available at Udemy and is specifically for business managers. The course focuses on effective decision-making.
During the course, you’ll learn how government legislation impacts your business, consumer behavior, and market structure. Aside from that, you will also be taught a study on how to organize your business.
Another exciting thing about this class is that it is a self-paced course. You get lifetime access to course materials. You can also access the system on your TV or mobile device.
17. Governmental Economic Policy
Alison created this free course. It is a certification course. If you wish to grow in your work, a certificate might be helpful.
Government policy is the main topic of this top economics course online. You will discover specifically how governmental choices affect economic outcomes.
You will study the following topics throughout three units: budgetary policy, microeconomics, and justifications for government involvement.
It should take two to three hours to complete this course. On this list, it is one of the shorter courses. But there is a ton of information there.
This course is at the college level. There aren’t any requirements. However, it can be helpful to comprehend some fundamental economic ideas.
Is Economics a Worthwhile Degree?
An economics degree is a versatile qualification that can equip you with the knowledge and skills needed to succeed in various industries.
Building a Strong Foundation: Undergraduate Degree
Starting with an undergraduate degree in economics can provide you with a strong foundation in the field. Economics is a critical topic that relates to virtually everything. Studying economics, you can better understand how the world works and make more informed decisions.
Expanding Your Horizons: Master’s or Doctorate Degree
If you’re looking to take your knowledge and skills to the next level, pursuing a master’s or doctorate in economics can be worthwhile. Advanced knowledge and skills in economics can set you apart in the job market and open up even more career opportunities.
Impact on Your Career: Learning New Skills
Taking economics courses online can help you learn new skills to enhance your career prospects. The analytical and problem-solving skills developed through studying economics can be applied to various industries, making you a valuable asset in the workplace. By leveraging these skills, you could even land a job promotion.
Impact on Your Daily Life: Making Informed Decisions
Beyond the workplace, the skills you learn by studying economics can significantly impact your daily life. By developing analytical and problem-solving skills, you can see multiple sides to any issue and make more informed decisions. For example, you can better understand how to manage your finances or navigate the complexities of politics.
Endless Opportunities: Variety of Topics and Career Paths
Economics is a field with a vast array of topics to explore. From corporate finance and stock trading to political science and financial markets, there are endless opportunities for learning and growth. Additionally, a degree in economics can lead to many different kinds of jobs, from financial analyst to economic consultant.
How long does it take to get an economics degree?
A four-year timeline is most common if you get a bachelor’s degree in economics. There are usually around 120 semester credits in a bachelor’s degree. This requires that you take 15 credit hours each semester.
However, if you take extra courses, attend summer school, and so forth, you could finish a bachelor’s degree in three years or less. If you only attend school part-time, you might need an extra semester or two (or longer) to finish your degree.
Master’s degree programs in economics vary in credit requirements. Some might have 30 or so credits. Others might have double that. Most commonly, master’s degrees are in the 30-36 credit range.
If you attend school full-time (9 credits per semester), you will finish the degree in 1 ½ to two years. Again, the timeframe could be extended if you attend school part-time instead of full-time.
Different specializations at the master’s level could influence the timeline as well. For example, a master of arts degree in economics might require just 30 credits. But a specialization in applied macroeconomics might require 39 credits.
The highest degree you can get in economics is a Ph.D. This degree commonly requires another three to five years of study after the master’s degree is completed. Usually, Ph.D. programs are structured as follows:
- Year one – core coursework
- Year two – fieldwork
- Year three – third-year seminar and field seminars
- Year four – thesis
So, if you were to get a bachelor’s degree, a master’s degree, and a Ph.D. in economics, you could look at anywhere from eight to ten years or more of schooling.
What do Economists Earn?
The Bureau of Labor Statistics (BLS) reported in 2020 that the median annual salary for economists is $105,020.
More than $185,000 is earned annually by the top 10 percent of earnings. The median annual wage for the bottom 10% earners is closer to $59,450.
A variety of factors influence the salary of an economist.
First, compensation is influenced by education level. For instance, a new graduate with a master’s degree and the same amount of expertise can anticipate earning less than a college grad with a bachelor’s degree in economics.
Not every position calls for a master’s or doctoral degree. However, a better degree in economics usually translates into higher-paying employment.
Second, your level of experience has a significant impact on your pay. Therefore, a master’s-educated economist with 15 years of experience will earn far more than a master’s-educated economist with only two years of experience.
Third, your income can vary depending on where you live.
For instance, the average annual salary of an economist in Washington, DC, is 26 percent more. Philadelphia economists, in contrast, make 19% less money annually than the national average.
The title of the job you have will also affect your pay. For instance, a senior financial advisor earns more than a junior data analyst. The pay increases as job duties increase. The greater the salary, the more senior the post.
FAQs
The free economics classes on this list are typically adaptable and self-paced. You can finish some in the afternoon, but others can take several days or weeks. Although most courses offer suggested completion times, there are typically no specified start or stop times.
Anyone who desires to study can enroll in a free online economics course; the bulk of the programs on our list is at the beginning level. But you’ll need some basic computer knowledge to do them quickly.
It is possible to study economics online. There are numerous resources available for this. The fundamentals of economics, monetary policy, total demand, the labor market, marginal costs, the Federal Reserve, and antitrust law are all available. Both free and expensive college courses are offered online. Additionally, the latter provides a credit that may be applied toward an online economics degree.
Conclusion
Economics is an invaluable subject to study, regardless of your current level of understanding. The best economics classes online for beginners and advanced students offer a unique opportunity to deepen your knowledge and explore this fascinating field in new ways.
With engaging instruction from experienced instructors passionate about the topic, it’s always been challenging to take a course on economics. Whether you’re looking to broaden your understanding or gain a competitive edge in the workplace, taking an economics class can be an advantageous experience.
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