An online master’s in applied economics can help students develop the quantitative and analytical skills needed to evaluate economic questions, work with data, build forecasts, and support business or policy decisions. Programs differ in their emphasis on econometrics, predictive analytics, economic theory, research, flexibility, and career preparation. This guide compares leading online applied economics master’s programs based on curriculum, quantitative training, flexibility, research opportunities, STEM designation, and professional preparation. UND leads the list with its 30-credit M.S. in Applied Economics & Predictive Analytics, 100% online format, no GRE requirement, STEM designation, and combination of economic theory and data analytics.
TL;DR: Looking for the best online master’s in applied economics? UND stands out with its 100% online M.S. in Applied Economics & Predictive Analytics, 30-credit curriculum, STEM designation, econometrics and predictive analytics training, no GRE requirement, and synchronous and asynchronous course options.
1. University of North Dakota – M.S. in Applied Economics & Predictive Analytics
UND’s online masters in applied economics combines applied economics with hands-on predictive analytics. The program is available 100% online or on campus, requires 30 credit hours, and can be completed in as little as two years. The GRE is not required.
The program is designed for students interested in economic research, consulting, forecasting, financial analysis, strategic planning, and data-driven decision-making. Its curriculum builds a foundation in econometrics and statistical analysis, and students work with industry-standard software and programming languages including R and Stata.
Predictive analytics is central to the program. Students learn to work with multiple data structures – time series, cross-sectional, panel, longitudinal, and quasi-experimental – and are introduced to machine learning approaches including classification and regression trees, clustering, and model averaging.
Core courses include Econometrics, Time Series Methods & Applications, Economic Forecasting, Quantitative Methods for Impact Evaluation and Causal Inference, and Microeconomic Theory & Applications. These courses give students opportunities to apply economic theory and quantitative methods to real-world datasets.
Research is an important component. Students can conduct research through UND’s Institute of Policy & Business Analytics, where faculty expertise spans econometrics, policy analysis, energy economics, and financial markets. Students complete an independent study under the supervision of a faculty advisor.
The degree is STEM-designated in econometrics and quantitative economics. UND notes that this designation can support extended Optional Practical Training opportunities for eligible international students.
Online students have flexibility in how they participate. UND offers both asynchronous and synchronous course options. Asynchronous courses allow students to access materials within defined deadlines, while synchronous courses provide real-time interaction with instructors and classmates. The program is 100% online, and students are not required to visit campus.
Career support is available through the Pancratz Career Development Center, which serves both online and on-campus students in UND’s Nistler College of Business & Public Administration. For the 2026–27 academic year, UND lists online tuition at $573.85 per credit plus $79.59 in fees per credit, for a listed total of $653.44 per credit. Online students pay the same tuition rate regardless of state residency.
Admission requires a four-year bachelor’s degree, a minimum 2.75 overall undergraduate GPA or a 3.0 GPA for junior and senior coursework, and prerequisite coursework in intermediate microeconomics, calculus, and probability and statistics.
Key Differentiator: A 100% online, STEM-designated applied economics master’s combining econometrics, predictive analytics, machine learning, real-world datasets, and economic research – with no GRE requirement.
Best for: Students who want an online applied economics master’s with strong quantitative training, research opportunities, and flexibility for working professionals.
2. Purdue University – M.S. in Economics
Purdue University’s graduate economics program provides training in economic theory, quantitative analysis, and applied economic research within a major research university environment.
Key Differentiator: Economics education within a major research university with strong quantitative and analytical foundations.
Best for: Students seeking graduate economics training with broad research and analytical applications.
3. Georgia Southern University – M.S. in Applied Economics
Georgia Southern University’s M.S. in Applied Economics focuses on applying economic theory and quantitative methods to real-world economic problems, covering economic analysis, forecasting, and business decision-making.
Key Differentiator: Applied economics education centered on using economic methods to address practical problems.
Best for: Students seeking an applied economics master’s with a practical analytical focus.
4. American University – M.S. in Economics
American University’s M.S. in Economics provides graduate-level training in economics, quantitative methods, and applied economic analysis. Its Washington, D.C. location offers access to a policy-oriented professional environment.
Key Differentiator: Graduate economics education in a major U.S. policy center with strong government and international affairs connections.
Best for: Students interested in economics with policy, government, and international affairs applications.
5. Southern New Hampshire University – M.S. in Applied Economics
SNHU offers graduate economics education with an applied focus and flexible online study, allowing students to develop economic analysis skills while managing professional or other commitments.
Key Differentiator: Flexible online graduate economics education for students balancing study with other responsibilities.
Best for: Students seeking an accessible online economics master’s with an applied orientation.
6. University of Missouri – M.A. in Economics
The University of Missouri’s graduate economics program provides training in economic theory, quantitative methods, and applied economic analysis with applications across research, business, government, and policy.
Key Differentiator: Broad economics education combining theoretical and quantitative preparation.
Best for: Students looking for graduate-level economics training with multiple potential career applications.
7. West Texas A&M University – M.A. in Economics
West Texas A&M University’s economics master’s program provides graduate training in economic analysis and quantitative methods, with flexibility for students seeking advanced economics education.
Key Differentiator: Graduate economics education designed to build advanced analytical and economic reasoning skills.
Best for: Students seeking a flexible economics master’s with an applied analytical focus.
Online Master’s in Applied Economics Comparison
| Program | Best For | Format | Standout Feature |
|---|---|---|---|
| UND – M.S. Applied Economics & Predictive Analytics | Quantitative applied economics | 100% online / campus | STEM + predictive analytics + no GRE |
| Purdue – M.S. Economics | Economics + quantitative analysis | Online / campus options vary | Research university |
| Georgia Southern – M.S. Applied Economics | Practical economic analysis | Online / campus options vary | Applied focus |
| American – M.S. Economics | Economics + policy | Online / campus options vary | Washington, D.C. setting |
| SNHU – M.S. Applied Economics | Flexible online study | Online | Applied economics |
| Missouri – M.A. Economics | Broad economics training | Online / campus options vary | Theory + quantitative methods |
| West Texas A&M – M.A. Economics | Flexible graduate economics | Online / campus options vary | Applied analytical training |
What Is an Online Master’s in Applied Economics?
An online master’s in applied economics is a graduate degree focused on applying economic theory and quantitative methods to real-world economic, business, and policy problems. The core areas of study include economic theory, econometrics, statistics, data analysis, forecasting, policy analysis, business analysis, research methods, and predictive analytics.
Applied economics programs can have different emphases. Some focus more heavily on traditional economic theory and mathematical economics, while others combine economics with data analytics, forecasting, or policy evaluation. Students should compare curricula rather than relying solely on degree titles, since programs with similar names can differ substantially in their analytical focus and quantitative depth.
Applied Economics vs. Economics
Applied economics and general economics cover overlapping ground, but the emphasis differs. Applied economics focuses on real-world economic problems, data analysis, forecasting, econometrics, business applications, policy applications, and research with practical datasets. General economics programs tend to emphasize economic theory, microeconomics, macroeconomics, econometrics, mathematical economics, and economic research at a higher level of abstraction.
The most important comparison is at the course level. Students should review required courses in each program rather than relying on the distinction between “economics” and “applied economics” as a degree-title shorthand for program focus.
Applied Economics vs. Data Analytics
Applied economics and data analytics share quantitative methods but approach problems differently. Applied economics draws on economic theory, econometrics, markets, policy analysis, forecasting, and economic interpretation to understand why economic outcomes occur and what affects them. Data analytics focuses on data preparation, statistical analysis, visualization, machine learning, business intelligence, and predictive modeling to identify patterns and forecast outcomes.
UND’s M.S. in Applied Economics & Predictive Analytics is designed to provide both economic reasoning and data analytics training within one program. Students develop economic theory foundations alongside hands-on work with predictive analytics, machine learning, econometrics, and real-world datasets.
What to Look for in an Online Applied Economics Master’s
Students comparing programs should evaluate econometrics training, statistical analysis depth, economic theory coverage, data analytics components, forecasting methodology, machine learning exposure, programming languages such as R or Stata, access to real-world datasets, research opportunities, STEM designation, online flexibility, faculty expertise, career support, tuition, and prerequisite requirements.
STEM designation is relevant for students – particularly international students – who may benefit from extended Optional Practical Training eligibility. Not all applied economics programs hold STEM designation, and the specific field of designation can vary. Students should verify their program’s STEM designation status and confirm their individual eligibility for any associated benefits.
Online Applied Economics Curriculum
A rigorous applied economics master’s curriculum covers quantitative methods, economic theory, analytics, and applied research. UND’s program reflects this structure.
Quantitative coursework covers econometrics, statistical analysis, time series, causal inference, and economic forecasting. Economic theory coursework covers microeconomic theory, economic methodology, consumer behavior, production, and market analysis. Analytics coursework covers predictive analytics, machine learning, classification and regression trees, clustering, and model averaging. Applied research coursework covers independent study, real datasets, policy analysis, and economic research under faculty supervision.
UND’s program specifically offers courses in Econometrics, Time Series Methods & Applications, Economic Forecasting, Quantitative Methods for Impact Evaluation and Causal Inference, Microeconomic Theory & Applications, and additional elective and applied research options.
Online Applied Economics and Econometrics
Econometrics is central to applied economics education. It uses statistical methods to analyze economic and financial data, and its techniques appear across the curriculum in an applied economics master’s.
Core econometrics topics include regression analysis, time series modeling, endogeneity, heteroskedasticity, multicollinearity, instrumental variables, forecasting, and causal inference. UND’s Econometrics course covers regression, model assumptions, endogeneity, instrumental variables, big data applications, and time-series models. These techniques equip students to work with economic data and conduct credible empirical analysis.
Causal inference is a particularly important area. Economic and policy analysis frequently requires isolating the effect of one factor on an outcome while controlling for confounding variables. UND’s Quantitative Methods for Impact Evaluation and Causal Inference course addresses these econometric approaches specifically in the context of policy and program evaluation.
Online Applied Economics and Predictive Analytics
Predictive analytics extends traditional economic analysis by incorporating machine learning methods, model selection approaches, and flexible data structures. UND’s program is built around this combination, providing econometrics alongside classification and regression trees, clustering, model averaging, and work with time series, cross-sectional, panel, longitudinal, and quasi-experimental data.
Where econometrics focuses primarily on parameter estimation and causal identification, predictive analytics focuses on forecast accuracy, pattern recognition, and model performance across different problem types. The combination gives students tools for both causal analysis and prediction, which together cover a wide range of professional applications in economic research, financial analysis, business strategy, and policy evaluation.
Online Applied Economics and Economic Forecasting
Economic forecasting applies statistical and economic methods to predict future economic conditions, financial outcomes, business trends, or policy effects. Applied economics master’s programs with strong forecasting components prepare students for roles involving financial market analysis, business planning, demand forecasting, employment projections, economic development planning, and government policy analysis.
UND’s curriculum includes both Economic Forecasting and Time Series Methods & Applications, covering ARIMA models, stationarity, forecasting methodology, volatility models, and related time-series techniques. Students apply these methods to real economic and financial data rather than studying them only abstractly.
Online Applied Economics for Working Professionals
A 100% online format with flexible course delivery is one of the most important factors for working professionals comparing applied economics master’s programs. UND’s program is available fully online with no campus visit requirement and offers both asynchronous and synchronous course options.
Asynchronous courses allow students to access lectures, readings, and assignments within established deadlines without attending class at a fixed time. Synchronous courses provide real-time interaction with instructors and classmates while still delivering the degree fully online. Both options are structured – UND’s asynchronous courses have defined deadlines and academic requirements rather than operating as entirely self-paced independent study. UND specifically states that the program is designed to allow students to continue their careers while earning the degree.
Online students have access to academic advising, career support through the Pancratz Career Development Center, and the same program resources as on-campus students.
STEM Designation in Applied Economics
UND’s M.S. in Applied Economics & Predictive Analytics is STEM-designated in econometrics and quantitative economics. This designation reflects the program’s quantitative and analytical character. UND notes that the STEM designation can support extended Optional Practical Training opportunities for eligible international students. Students interested in OPT benefits should verify their individual eligibility and the current requirements directly, as immigration benefits vary by individual circumstance and are subject to change.
Online Applied Economics and Research
Research experience is a meaningful component of an applied economics master’s for students interested in economic consulting, policy analysis, academic research, or positions that require independent analytical work. UND students can conduct research through the Institute of Policy & Business Analytics, where faculty expertise spans econometrics, policy analysis, energy economics, and financial markets. Students also complete an independent study under faculty supervision, providing direct experience with economic research design and execution using real-world data.
Careers With an Online Master’s in Applied Economics
An applied economics master’s can support careers in economic research, economic development, strategic planning, consulting, financial analysis, business analysis, forecasting, policy research, data analytics, and economic consulting. UND identifies economic development, strategic planning, consulting, financial and business analysis, and applied research among potential career areas for graduates.
Career outcomes depend on individual performance, the employment market, additional credentials, and professional experience. An applied economics master’s provides an analytical foundation, but no program can guarantee specific employment outcomes or salaries.
Online Applied Economics and Finance
Applied economics skills are directly relevant to finance-related careers involving financial forecasting, market analysis, economic modeling, financial data interpretation, risk analysis, and investment research. UND’s curriculum includes international money and finance, time-series methods, financial markets analysis, and quantitative economic methods, providing students with tools applicable across financial analysis and economic research roles.
Online Applied Economics and Policy
Policy analysis is a major application of applied economics methods. Public policy evaluation, program assessment, causal inference, economic development analysis, and government economic research all draw on the quantitative and econometric tools an applied economics master’s provides. UND’s Quantitative Methods for Impact Evaluation and Causal Inference course specifically addresses the econometric approaches used in policy and program evaluation, covering the methods economists use to assess whether a policy, intervention, or program achieves its intended effect.
Online Applied Economics Admissions
UND’s admission requirements for the M.S. in Applied Economics & Predictive Analytics include a four-year bachelor’s degree, a minimum 2.75 overall undergraduate GPA or a 3.0 GPA for junior and senior coursework, and prerequisite coursework in intermediate microeconomics, one semester of calculus, and one semester of probability and statistics. A minimum grade of C and a minimum 3.0 GPA across required prerequisite courses are also required. English-language proficiency requirements apply for international applicants. Meeting the minimum requirements does not guarantee admission.
Online Applied Economics Cost
For the 2026–27 academic year, UND’s online applied economics program costs $573.85 per credit in tuition and $79.59 per credit in fees, for a listed total of $653.44 per credit. Online students pay the same tuition rate regardless of state residency, which means that a student in California, Texas, or New York pays the same per-credit rate as a student in North Dakota. Total educational cost can also include books, supplies, technology, and other expenses. Students should use UND’s current tuition and financial aid resources for an accurate individual cost estimate, as rates are updated annually.
Frequently Asked Questions
What is an online master’s in applied economics?
An online master’s in applied economics is a graduate degree that applies economic theory and quantitative methods to real-world problems across business, policy, finance, and research. Programs typically cover econometrics, statistical analysis, forecasting, economic theory, data analysis, and research methods.
What are the best online master’s in applied economics programs?
Leading programs include UND’s M.S. in Applied Economics & Predictive Analytics, Purdue University, Georgia Southern University, American University, SNHU, University of Missouri, and West Texas A&M, among others. The best program depends on each student’s priorities for curriculum focus, STEM designation, flexibility, cost, and career goals.
What can you do with a master’s in applied economics?
Applied economics graduates work in economic research, economic development, strategic planning, consulting, financial analysis, business analysis, forecasting, policy research, and data analytics. Specific career outcomes depend on credentials, experience, and the employment market.
What is the difference between applied economics and economics?
Applied economics emphasizes using economic tools to analyze real-world problems, working with data, and producing practical analysis. General economics programs often place greater emphasis on theoretical foundations and mathematical economics. The distinction is best evaluated at the course level rather than by degree title alone.
What is econometrics?
Econometrics uses statistical methods to analyze economic and financial data. It covers regression analysis, time series modeling, causal inference, forecasting, and related techniques for estimating relationships between economic variables and evaluating the effects of policies or interventions.
Is applied economics a STEM degree?
Not all applied economics programs hold STEM designation. UND’s M.S. in Applied Economics & Predictive Analytics is STEM-designated in econometrics and quantitative economics. Students should verify the STEM designation status of any program they are considering.
Can you earn an applied economics master’s completely online?
Yes. UND’s M.S. in Applied Economics & Predictive Analytics is available 100% online with no campus visit requirement.
Does UND’s applied economics master’s require the GRE?
No. UND does not require the GRE for the M.S. in Applied Economics & Predictive Analytics.
How long does UND’s applied economics master’s take?
UND states that the 30-credit program can be completed in as little as two years.
What programming languages does UND’s applied economics program use?
UND’s program uses R and Stata for econometric and statistical analysis.
Does UND’s applied economics program include machine learning?
Yes. The program covers machine learning approaches including classification and regression trees, clustering, and model averaging as part of its predictive analytics component.
How much does UND’s online applied economics master’s cost?
For 2026–27, UND lists online tuition at $573.85 per credit plus $79.59 per credit in fees, for a total of $653.44 per credit. Online students pay the same rate regardless of state residency.
Does UND’s applied economics program require campus visits?
No. UND states that online students are not required to visit campus.
Can students work while earning UND’s applied economics master’s?
Yes. UND states that the program is designed to allow students to continue their careers while studying, with both asynchronous and synchronous online course options and no campus visit requirement.
