The MBA degree has evolved so much over the past 100 years, it has changed the landscape of higher education. From a simple business degree to to a larger over-arching program, the MBA is now the most relevant master’s degree for leaders across all sector lines. This degree carries numerous concentrations, specializations, majors, and certificates covering numerous topics in business as well as insight into business sectors and job specialties.
The degree is constantly changing in expanding, changing with the demands in business as well as the demands of the students. Students can pursue online MBA programs with specialized curriculum in Accounting, Marketing, Human Resource Management, Nonprofit Management, Supply Chain Management, and Environmental Sustainability, with more choices added every semester. Online MBA Today explores different online MBA degree options in order to give prospective students information on the multitude of fields and degrees available.
Let’s explore the growing field of Managerial Economics.
MBAs in Managerial Economics
An MBA in managerial economics provides you with the tools to collect and analyze data and trends related to the production and distribution of resources and services. As a manager with an economics background, you will have a direct impact on the profits, both short-term and long-term, of your organization.
You will take courses that typically are covered in MBA programs such as marketing management, information systems, business communication, organizational leadership, ethics, and business law. But coursework will also cover such areas as micro and macro-economic theory, statistics, econometrics, applied economics, managerial economics, data analysis for decision making, and government role in economics. Some programs have areas of emphasis you can pursue within managerial economics. Some examples include agricultural economics, business economics, environmental economics, and international business economics.
Work experience is generally preferred, though not always required for these programs. Prospective students must have a solid background in higher mathematics and strong quantitative skills. Most MBAs are two-year programs. However, you can find programs that will let you got at a slower pace or an accelerated one based on your needs as a student.
An MBA in managerial economics opens up career opportunities in an array of fields including finance, marketing, accounting, banking, international management consulting, agricultural policy, insurance, government, sustainability consulting, manufacturing, and food production and distribution. An MBA offers you the economic skills and background to make informed analyses for your organization with the managerial experience to effectively manage a team. This dual perspective will make you valuable to organizations who desire both a healthy workforce and financial bottom-line.
An online MBA program is perfect for students who are full-time working professionals who are unable to attend a traditional on-campus program. Whether this be due to travel schedules, familial obligations, or relocation, an online MBA allows you the flexibility to pursue career advancement that fits with your current life stage. Online programs will provide interactive learning options, such as web-based videos and virtual discussions. Many programs will allow you to choose when you would like to start throughout the year, provide a full-time or part-time option, and sometimes offer a blend of online and on-campus participation, based on what best suits your needs. Courses are taught by the same faculty online as in-person, so you get the same excellent education. Just be sure you have a strong internet connection and feel comfortable using the technology required for the program.
According to the Bureau of Labor and Statistics, individuals with MBAs in economics should expect to see a six percent job growth in the field of economics from 2016 through 2026. The median pay for an Economist is $101,050 per year.
An MBA in managerial economics will help improve your employability, regardless of the industry you choose to work in because it will provide you with both a sound understanding of economics and solid managerial experience. There is a strong demand for highly numerate individuals throughout the global workforce. The quantitative, analytical, and problem-solving skills you will develop with your online MBA in managerial economics will be transferable to your choice of career paths.
Based on our ranking of the top Online MBA programs in Managerial Economics, here are the top five programs in the country:
OTHER MBA SPECIALTY GUIDES:
Guide to Online MBAs in Accounting
Guide to Online MBAs in Finance
Guide to Online MBAs in Information & Technology
Guide to Executive MBAs
Guide to Supply Chain Management MBAs
Guide to Online MBAs in Business Analytics
Guide to Online MBAs in Healthcare Management
Guide to Online MBAs in Marketing
Guide to Online MBAs in Finance
Guide to Online MBAs in Nonprofit Management
Guide to Online MBAs in Entrepreneurship
Guide to Online MBAs in Cybersecurity
Guide to Online MBAs in Environmental Sustainability