Master's Degree in Economics
A master's degree is what you earn after completing a postgraduate academic program. (1) One such academic degree is the masters degree - economics, or more typically referred to as master's degree in economics.
The time it would take to obtain a master's degree in economics varies from country to country. It can be as quick as one year and as long as six years. In most parts of North America, it typically takes one to two years to obtain a master's degree; and that's after you have already completed a bachelor's degree. In Europe, a master's degree takes about two years, on top of a minimum of three years spent in undergraduate work. (2)
A master's degree, particularly a master's degree in economics and other related fields, can be a good investment for future career advancement. One study shows that higher education in mathematics paired with economics or computer science can be a good foundation for future career advancement and better pay. (3)
Investment banks, consulting or software firms, and brokerage firms usually hire those who have specialized in economics, computer science, and engineering. And these people who have already been hired typically aim for higher education. Some aim for earning double majors of their preferred pairing of math, computer science, or economics. While others work at earning a master's degree in economics or mathematics or computer science. All this extra work at higher education is believed to help make them more marketable and thus eligible for higher pay. (4)
One survey from the Census Bureau showed exactly how vast the salary difference can be among high school graduates, college graduates, and master's degree holders. Someone who has graduated from high school can expect to earn about $1.2 million if he works full-time from age 25 to 64. Someone who has a college degree is expected to earn to earn more less $2.1 million exerting the same amount of effort during the same period. On the other hand, someone who has a master's degree can earn $2.5 million. (5)
So, after you have become set on getting master's degree in economics, what do you do next? Find out how you can get into a master's degree program. Most master's degree programs require a bachelor degree. Aside from that, some programs for master's degree in economics will only accept you if you have taken several specific courses prior to enrolling in their program.
For example, economics master's degree requirements at the University of Massachusetts Amherst include at least a semester for each of the following courses or subjects: intermediate macro theory and intermediate micro theory. Aside from that, you must also pass an entrance examination called the Graduate Record Examinations General Test. (6) There is usually a long list of requirements so it is best to go to the particular university that you are interested in and ask for a list of requirements for the master's degree in economics program.
Literary Citations & Article References:
1) http://en.wikipedia.org/wiki/Master's_degree
2) http://en.wikipedia.org/wiki/Master's_degree
3) http://money.cnn.com/2000/11/10/career/q_degreemath/
4) http://money.cnn.com/2000/11/10/career/q_degreemath/
5) http://archives.cnn.com/2002/fyi/teachers.ednews/07/18/degree.dollars.ap/