Do you want to pursue a bachelors degree in Economics? Are eager to know more on topics like finance, business, and international trade, but do not want to school the traditional way? Then, you should consider pursuing an online economics degree. There are several accredited universities and colleges that offer economics online degree, however, you may encounter issues in making your selection due to your finances. Due to this, our world scholarship forum team has put together a list of 17 Cheapest Online Economics Degree Programs in the USA.
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What Is Economics?
Economics is a social science concerned with the production, distribution, and consumption of goods and services. It studies how individuals, businesses, governments, and nations make choices on allocating resources to satisfy their wants and needs, trying to determine how these groups should organize and coordinate efforts to achieve maximum output.
Economics has two sub-disciplines. The first is Microeconomics, and it analyses the interaction between different economic agents. Macroeconomics, the second one, explores the entire economy of a society.
Why Study Economics?
The study of economics is an excellent way to acquire problem-solving skills and develop a logical, ordered way of looking at problems. Those who study economics use rigorous methods of analysis to measure the economic impact factors like resource availability, scarcity, government policy, social institutions, and individual decision making by consumers and businesses.
This fascinating field of study advances our understanding of how complex economic systems function, increasing the ability to improve economic outcomes on both a small and massive scale. It can provide deep explanations for impactful social phenomena, making economics a very rewarding field to study.
A Bachelor’s or Master’s degree in Economics teaches you about interest rates, exchange rates, economic indicators, and equity markets, allowing you to see how they all influence different industries around the world. Courses in Economy will also focus on economic theory and fundamental economic principles. Students develop a broad understanding of public policies and their socio-economic impact on legislation, taxes, services, and regulations.
Economics students learn how money was created and understand how barter works. Other classes will deal with banks, the dynamics of debt, the nature of the credits and their operation. Also, when you pursue a degree in economics, you will study financial crashes, their causes and try to come up with ways to prevent future economic disasters.
Furthermore, you will have debates on important issues such as: Are markets self-regulating, or is government intervention needed to keep them stable? This will allow you to broaden your economic knowledge and better understand how global economies interact.
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Which Skills Do An Economist Need?
To be a great economist you’ll need the following skills:
- problem-solving skills,
- critical thinking,
- analytical abilities,
- communication skills,
- detail oriented,
- mathematical skills,
- writing skills.
Critical thinking skills: Economists must be able to use logic and reasoning to solve complex problems. For example, they could identify how economic trends can affect an organization.
Analytical skills: Economists should be able to review data, observe trends, and draw logical conclusions. For example, some economists analyze historical employment trends to make projections of employment.
Communication skills: Economists need to be able to explain their work to others. They can make presentations, explain reports or advise clients on economic issues. They can collaborate with colleagues and sometimes they have to explain economic concepts to those who have no experience in economics.
Detail oriented: Economists must pay attention to details. Precise data analysis is necessary to ensure accuracy in their findings.
Mathematical Skills: Economists use the principles of statistics, calculus, and other advanced topics in mathematics in their economic analyses.
Writing Skills: Economists need to be able to clearly present their findings and conclusions. Many economists prepare reports for their colleagues or clients. Others write for publication in magazines or for the media.
What Can You Do With A Degree In Economics?
The economy influences the future of consumers, businesses, and governments. Those with the power to understand it, interpret its impact and make informed decisions and predictions based upon it can create a career for themselves in nearly any industry.
Economics degree training provides excellent preparation for graduate work in economics, public policy, law, and business. Economics graduates go on to work professionally in the public (federal, state and local government) and private (banking, consulting, retail, and corporate) sectors.
Potential careers for economics graduates at all levels of study include actuary, appraiser, banking and finance, business analyst, claims adjuster, commodities broker, compliance analyst, industry forecaster, investor relations specialist, a risk analyst and many others.
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Most Affordable Economics Degrees Online
We have compiled a list of some of the Cheapest Online Economics Degrees in the United States where you can get an online degree in economics. These economics online degree programs can be earned alone as a bachelors degree in economics, for example, Online BS or BA in Economics. Also, can be earned as a concentration in another field, for example, an online business economics degree.
List of 17 Cheapest Online Economics Degrees
- University of Massachusetts-Lowell
- Liberty University
- Oregon State University
- Colorado State University-Fort Collins
- Arizona State University
- Washington State University
- University of Utah
- East Tennessee State University
- Regent University
- Utah State University
- Eastern Oregon University
- Pennsylvania State University-World Campus
- Ottawa University-Online
- University of North Carolina-Pembroke
- West Texas A & M University
University of Massachusetts-Lowell
Online Bachelor of Liberal Arts – Economics Concentration
The University of Massachusetts at Lowell offers a unique program unlike any other on this online economics degrees ranking. UML’s Bachelor of Liberal Arts degree program lets students combine two fields of study from the humanities and social sciences. In addition, each concentration consists of six classes. For instance, if you choose the economics focus area you’ll get to pick from classes like “Labor Economics,” “Microeconomic Theory,” and “Investments: Instruments and Strategies.” As for your second focus, this program offers options in political science, history, and legal studies – all of which combine perfectly with the study of economics.
Tuition & Fees: $23,332/year
Online Bachelor of Science in Business Administration-Economics
Liberty University offers an online Bachelor of Science in Business Administration with economics concentration. The University’s 100% online B.S. in Business Administration-Economics degree is accredited by the Accreditation Council for Business Schools and Programs (ACBSP).
The core coursework will consist of a wide variety of business-oriented classes, from corporate finance and accounting to marketing and strategic planning. However, to complete this affordable online business economics degree, you will take a four-course economics “cognate,” which covers crucial topics like economic forecasting, trade, and the financial system. Also, there are several elective classes which you are to pick up to nine. In addition, you can earn as many as six credits by completing an internship.
This online bachelor’s in Economics degree is designed to equip future leaders with an understanding of the inner workings of business and economics. With Liberty’s online BSBA degree in Economics, you will gain practical skills in finance, business, accounting, and international trade that will prepare you to not only thrive in your career but also in everyday life.
Tuition & Fees: $21,310/year
Oregon State University
Online BS or BA in Economics
The bachelor’s in economics program is offered through OSU’s College of Liberal Arts, which is ranked No. 1 in the nation for best online liberal arts colleges. The courses are delivered online by OSU Ecampus.
Oregon State University’s economics program is designed in a way that can help students achieve a variety of career goals. For instance, if you want to work in business, the program’s Managerial Economics concentration is ideal. It includes advanced coursework in accounting, financial management, international economics, and banking.
However, students more interested in a career in politics or research, OSU’s accredited online economics program offers a concentration in Law, Economics, and Policy. Majors on this track pick from specialized electives like “Behavioral Economics,” “Labor Economics and Social Policy,” and “Deductive Logic.”
Notwithstanding, participants in both tracks benefit from OSU’s robust e-campus resources, including online tutoring and success counseling.
Tuition & Fees: $309/credit; $20,212/yr
Colorado State University-Fort Collins
Online BA in Economics
Offering an affordable bachelor’s degree in economics online at CSU helps you understand how the economy influences the future of consumers, businesses, and governments, interpret its impact and make informed decisions and predictions.
CSU’s online economics degree equips you with a wide range of perspectives, so you are able to analyze complex problems from multiple angles — a valuable skill in today’s rapidly changing global marketplace. Learn to think broadly and critically through a blended curriculum that builds technical knowledge and an understanding of how human behavior influences economic systems.
Tuition & Fees: $20,149/year
Arizona State University
Online Bachelor of Science in Economics
The ASU Online Bachelor of Science in Economics provides students with a set of rigorous theoretical and empirical tools to study the decisions of individuals, firms, and governments.
Arizona State University offers its online economics degree program, not through the business school, but through the College of Liberal Arts and Sciences. However, the basic courses are the same as those offered on campus by the W.P. Carey School of business. In addition, online Bachelor of Science in Economics offers students a great deal of flexibility in the selection of elective coursework to satisfy degree requirements.
The economics curriculum can be paired with a customized set of electives to suit individual interest. Those interested in government or public-sector work may pair the economics curriculum with courses in political science or urban planning. Those wishing for private sector preparation may choose to minor in business.
Tuition & Fees: $19,082/year
Washington State University
Online Bachelor of Science in Economic Sciences—Business Economics
Washington State University offers a particularly robust economics program that focuses both on business and technical skill development. As an accredited online business economics degree, the program offers a wide range of coursework in banking, labor economics, industrial organization, and other similar topics.
In addition, WSU couples these topics with a separate set of foundational economics courses as well as skills-based classes like “Technical and Professional Writing” and “Statistical Methods.”
Also, the program offers specific career training by allowing you to choose between two nine-credit concentrations: Management or Commodity Marketing.
Tuition & Fees: $18,604/year
University of Utah
Online BS or BA in Economics
The University of Utah’s online bachelor’s degree in economics is one of the cheapest online economics degree programs ranking. They provide high-quality core theory and mathematical/statistical methods courses, plus a range of focus area and elective coursework to be taken in concert with your traditional campus-based courses. The flexibility that the online courses allow will enable you to complete the economics degree efficiently and on your schedule.
Students must also take courses in 2 of 3 “focus areas” (econometrics, economic history, and history of economic thought), along with 4 open, upper division electives in economics. These concentrations make for some unique course options, such as “Marxian Economics,” “Middle East Economic History,” and “Manias, Panics, and Crashes.”
Tuition & Fees: $18,505/year
East Tennessee State University
Online BA in Economics
The mission of the Department of Economics and Finance is to provide students with the educational experience necessary to succeed in a competitive global environment. The university offers four cheap bachelor’s degrees in economics online.
Students can earn a mostly online Bachelor of Business Administration degree in either Economics or Finance or a mostly online Bachelor of Arts degree in Economics.
There are three mostly online degree options in Economics and Finance, with various concentration options: Economics, B.A., Economics, B.B.A. and Finance, B.B.A.
In addition to the standard Bachelor of Arts degree in Economics, B.A., ETSU also offers a BBA in Economics with concentrations in General Business, Business Economics, and Financial Economics.
The bachelor of arts in Economics is best suited for non-business professionals and covers topics like economic history, econometrics, and public policy. On the other hand, the BBA degrees put a much greater emphasis on business and management. Of the three, General Business provides the broadest selection of courses, while Financial Economics is the most focused (classes emphasize Wall Street staples like “Principles of Investment” and “Banking and Financial Intermediation”).
Tuition & Fees: $17,571/year
Online B.S. in Business – Economics
Regent’s online Bachelor of Science (B.S.) in Business – Economics builds upon the core strength of the school’s business degree to prepare you for a successful career in finance, banking and more. You’ll learn about cost and inflation theories, estimation, market structure, and capital budgeting. Also, get to grow your knowledge on macro and microeconomics, political economy, entrepreneurship and market processes.
The curriculum principally focuses on managerial concepts like accounting, marketing, law, and finance. However, you will get a compact sequence of econ lessons (six classes, to be exact) to complement your business studies. Examples include “Political Economy,” “History of Economic Thought,” and “Entrepreneurship, Market Processes, and Economic Growth.”
Average Tuition & Fees: $17,288/year
Utah State University
Online BS or BA in Economics
As one of the cheapest online economics programs, USU delivers an affordable and impressively versatile option. Students in the economics major learn how to think critically, solve problems, work with numbers, in addition to a variety of other skills.
The coursework in the program also provides a strong grounding in economic theory, which helps open unique career opportunities that involve policy analysis. Students pursuing economics gain valuable research experience that prepares them for graduate school or various careers in business. Four Emphasis Options are available in Economics: Economic Theory, Managerial Economics, Prelaw Economics, and International Economics and Trade.
In addition, students receive a BS by completing all required courses in the major. To receive a BA, students must also gain proficiency in one or more foreign languages. A dual major in accounting and economics is also available. Students meeting the requirements for the dual major can receive a BA or a BS.
Tuition & Fees: $14,695/year
However, the Jon M. Huntsman School of Business may charge differential tuition for this program.
Eastern Oregon University
Online Bachelor’s Degree in Economics
If you would like to pursue a career in public policy, business, finance, or pursue graduate work in Economics, the EOU Economics degree may be for you.
Eastern Oregon University recognizes that economics majors typically end up in a wide range of careers, from finance to law to education. So, instead of trying to limit their majors’ job options, EOU’s economics program gives its students a wide range to explore the topics that interest them. In addition to some of the foundational economics, mathematics, and statistics classes, this online economics program includes few core requirements.
Tuition & Fees: $14,022/year
Pennsylvania State University-World Campus
Online Bachelor of Science in Economics
In this program, you will have the opportunity to study with highly regarded faculty from Penn State’s College of the Liberal Arts, one of the premier institutions in the world to study and work in the liberal arts disciplines. The curriculum of this program is designed to teach you to think critically and analytically in order to make or recommend decisions, allocate resources, and solve complex issues.
Students of this accredited bachelor’s degree in economics online get skills in calculus and computer programming. Also, students are to take 10 “supporting courses” in advanced topics that range from environmental economics to growth and development.
Tuition & Fees: $13,988/year
Online BA in Business Economics
A school recognized for its strength in e-learning, Ottawa University is a favorite among adult students. The university not only has a generous credit transfer policy but is also proud to offer a flexible and practical course.
This dynamic business economics degree online program highlights the decision making of people in business, as well as the impact of those decisions on society and global economies. This online economics degree addresses relevant topics in the field from entrepreneurship to banking to the economics of decision-making, and many more. Also, students can focus on any of the following options: Finance Concentration, Human Resources Concentration, Leadership & Management Concentration, and Marketing Concentration.
Tuition & Fees: $11,976/year
University of North Carolina-Pembroke
Online BS in Business Administration-Economics
UNC – Pembroke’s is one of the most versatile schools in the ranking of cheapest online economic programs. This is so because it allows students to add multiple tracks with their BS in Business Administration. Available tracks are Economics, Entrepreneurship, Finance, International Business, Management, or Marketing.
The requirements for the Economics track include “management economics” and “intermediate macroeconomics”, plus two economic electives. However, you can also consider earning a second concentration, which is quite easy to do from your open elective courses. For example, a person interested in the banking sector may choose the second option in finance, while a future business owner may choose to focus on entrepreneurship.
Tuition & Fees: $11,809/year; $53.21/credit hour(in-state), $188.34/credit hour(out of state)
West Texas A & M University
Online BBA in Law and Economics
The Paul and Virginia Engler College of Business at West Texas A&M University (COB) offers a Bachelor of Business Administration (B.B.A.) degree via the online instruction mode with five different major options. The online options provide an opportunity for working students and those living at a distance to earn a bachelor’s degree.
Also, all courses needed to complete the degree can be earned completely online, or students can combine on-campus and online courses to earn the degree. Current degree program options include degrees in finance, general business, management, marketing, or law & economics.
Tuition & Fees: $8,481/year
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You can actually earn a bachelors degree in Economics from the comfort of your home & at a low cost. Read more on 17 Cheapest Online Economics Degree Programs in the USA.