A business economist is an expert in economics and can work in any field of financial interest, private or government. As an expert in the social science of economics, you may specialize in business, law, sociology or even the history of economics. A business economist can work as a consultant for a private business or an employee of the government or even in the employment of a diplomat. Business economists study and develop different theories that aid the company or individual that they work for. With expertise in economics, the business economist studies data and extracts useful information for the company or entity.

Education Required to become a Business Economist

The educational requirements for becoming a business economist are like similar positions in economics. Usually the minimum to begin in the field is an Associate in Economics. Most will complete their Bachelors in Economics and progress to finish a Masters in Economics. Those who wish to pursue an academic career in economics will continue to the PhD level.

Salary Range for a Business Economist

Depending on the level of education and the number of years of experience, a business economist can expect to enter the field as a new economist with a Bachelor’s degree at around $40,000 in the government or private sector. Private industry positions usually pay more than government positions. As one’s education increases and advances are made on the job, Economists can expect to reach the higher end of the pay scale in private industry working 1-4 years in the $40-50,000 range, 5-9 years $60,000 range and increasing to near $90,000 beyond ten years.

Online Programs

The following are some of the schools that offer programs that can lead to becoming Business Economist:

University of Iowa – Offers a Masters program as well as a PHD program in Economics online. The program is offered through the Tippie College of Business and College of Liberal Arts and Sciences. The University of Iowa in conjunction with Tippie College of Business offers a Master of Arts as well as a Doctor of Philosophy in Economics for those directed towards the Academic Economist profession. The Master of Arts is offered only to students working towards a PhD in economics through their programs. The Doctorate in Philosophy for economics requires a minimum of 72 semester hours of graduated credit to complete. The college provides students with training in applied economics, economic theory and econometrics.

Aspen University - Aspen’s MBA in Economics program builds skills needed for the challenging business world students face. Their hands-on approach builds successful leaders and managers who are decision makers and team leaders. Their online degree program guides the professional employee with a comprehensive view that is essential for real-world business concepts. Aspen’s courses are project based and provide a unique learning as you do approach. Their available programs provided specialization in Information and Project Management focused on management, strategy and analysis in economics.

Ashford University – Students at Ashford University gain the skills necessary to accelerate their career growth with a Masters of Business Administration Degree. Ashford University helps students discover their potential by enhancing their personal and professional confidence. Students develop the real world skills needed to advance their career in the business world. Ashford’s MBA programs can be more focused when students personalize their concentrations. Each concentration can spotlight unique elements that prepare students for a wide range of responsibility. Students can choose from the following concentrations: Global Management, Finance, Entrepreneurship, Health Care and Human resources Administration/Management.

Economists are mainly concerned with the understanding and interpretation of financial matters in the public and private business sectors. Economists are found in a wide variety of careers. Most businesses, small, medium or large, rely on what the economic forecast and strategies are for the developing markets and their products are. In order for businesses to make good decision and plan their investments, they need good information and advice. Businesses that wish to deal with forecasts for rates whether they are exchange or otherwise need economists to accomplish this.

As an Economist in any of the given fields, you will interpret economic findings, prepare reports and communicate them to the management of the company the economist is employed by. For students already working in the field of economics, an economics degree online can be the gateway for students to enter into government service, nonprofit entities with careers in statistics and analysis. It can also enhance their present position for those desiring upward mobility.

Career Prospects

A career in Economics can lead to other occupations in the area of finance such as becoming budget analysts, financial managers, loan officers, cost estimators, insurance underwriters, purchasing managers, management analysts and survey researchers. After achieving a career in Economics, another career some students consider is in the field of teaching at business schools or colleges. Making a move into the educational arena can lead to a career as an academic economist. Another avenue to consider is a career as a writer covering the trends and writing about Economics.

What Economists Do

You can develop a career as a writer for publications on economics. Current trends in economics blend information technology and businesses to for the e-Commerce field. Many economists work in the development, research and financial management as well as marketing of e-businesses. Students who graduate and go on to the Masters level can expect to fill key positions in companies such as business and data analysts, project and sales managers as well as executive positions as business and data analysts.


The job market outlook for careers in Economics is promising as many new businesses depend on the increased marketability of their companies through local and global related industries. The need for economists to interpret the trends and ideas of the newly tapped global markets is there and the potential for growth and mobility extend worldwide.

Job Titles

Some of the promising careers in Economics are Government Economist, Public Finance Economist, Business Economist, Financial Analyst, Marketing Research Analyst, Macro Economist, Micro Economist, Industrial Economist and Academic Economist (economics teacher or professor).

Online Programs

University of Iowa offers a Masters program from their online courses, as well as a PhD in Economics for an Academic Economist to teach at the University level through the Tippie College of Business and College of Liberal Arts and Sciences. The Doctorate in Philosophy for Economics requires of 72 semester hours.


Aspen University’s MBA in Economics program builds skills needed for the challenging business world. Their approach is hands on in order to build successful leaders and managers that are decision makers and team leaders. Aspen’s courses are project based and provide a unique learning as you do approach. Their available programs provided specialization in Information and Project Management focused on management, strategy and analysis in economics.