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Applied economics has become one of the most quantitative fields in graduate education - and the strongest online programs reflect that shift.
An online master’s in applied economics can help students develop advanced skills in economic analysis, econometrics, forecasting, and data-driven decision-making while maintaining the flexibility of online study. The strongest programs combine economic theory with practical quantitative methods and real-world applications. This guide compares seven online master’s programs based on curriculum, flexibility, quantitative training, STEM designation, career preparation. The University of North Dakota leads the list for combining applied economics with predictive analytics, a fully online format, STEM designation, R and Stata training, independent research component.
TL;DR: Looking for the best online master’s in applied economics? The University of North Dakota stands out for combining applied economics with predictive analytics, a fully online format, STEM designation, quantitative coursework, R and Stata training, and an independent study capstone.
1. University of North Dakota – M.S. in Applied Economics & Predictive Analytics
The University of North Dakota’s online masters in applied economics combines applied economics with predictive analytics and data-driven problem-solving in a 30-credit program available 100% online. Students can complete the program in approximately two years through a combination of synchronous and asynchronous course formats without coming to campus. The UND curriculum covers econometrics, economic forecasting, statistical analysis, and predictive analytics while building hands-on experience with tools including R and Stata. Students also complete an independent study that serves as a program capstone, applying quantitative methods to real economic questions in areas such as banking, healthcare, energy, and government. The program is STEM-designated in econometrics and quantitative economics, reflecting its emphasis on advanced mathematical and statistical methods.
Key Differentiator: Fully online applied economics program combining economic theory, predictive analytics, econometrics, and independent research with STEM designation.
Best for: Students who want a flexible applied economics master’s with a strong quantitative and data analytics focus.
2. Johns Hopkins University – M.S. in Applied Economics
Johns Hopkins University’s M.S. in Applied Economics is available online and on campus and requires 10 courses covering economic theory and quantitative methods. The program gives students flexibility to shape their studies around focus areas including applied macroeconomics, applied microeconomics, financial economics, and quantitative methods, with elective options spanning environmental economics, health economics, international economics, and public policy. Students can complete the Johns Hopkins program in approximately 12 to 24 months depending on course load. Current program structure and completion timeline | Source: JHU Advanced Academic Programs
Key Differentiator: Flexible focus areas allowing students to tailor an applied economics degree toward quantitative, financial, policy, or macroeconomic interests.
Best for: Students seeking a flexible applied economics master’s with multiple specialization and elective options.
3. University of Maryland – M.S. in Applied Economics
The University of Maryland offers a 30-credit, 10-course M.S. in Applied Economics with an online option that can be completed entirely remotely, with synchronous online meetings held weekly. The program is STEM-designated and emphasizes quantitative economics, applied econometrics, and empirical analysis, with students working in statistical software such as Stata and R. The University of Maryland curriculum prepares students to apply economic analysis to financial forecasting, environmental policy, economic development, and international trade. Current online format and synchronous meeting requirements | Source: masters.econ.umd.edu
Key Differentiator: STEM-designated applied economics master’s combining rigorous quantitative training with policy and real-world applications.
Best for: Students who want rigorous quantitative economics training in a structured online format.
4. American University – Online M.S. in Economics
American University’s online M.S. in Economics offers dedicated tracks in Applied Economics and Data Science, focusing on using economic theory for predictions and outcomes, econometrics, data analysis, and communicating economic information. The program does not require an economics background or GRE for admission, making it accessible to students from a range of academic fields. American University also offers a flat tuition structure for the program. No-GRE policy and flat tuition are still current | Source: American University program page
Key Differentiator: Online economics master’s with dedicated Applied Economics and Data Science tracks and accessible admissions requirements.
Best for: Students who want to combine applied economics with data science and quantitative analysis.
5. Georgia Southern University – M.S. in Applied Economics
Georgia Southern University’s M.S. in Applied Economics is fully online and AACSB-accredited, using real-world data through simulations, discussions, and multimedia presentations. Courses are fully asynchronous, and students do not have regular campus attendance requirements or proctored exams, making Georgia Southern a strong option for professionals managing demanding schedules. The program can also connect with a graduate certificate in applied economics. No-proctored-exam policy and certificate connection are still current | Source: Georgia Southern University program page
Key Differentiator: Fully asynchronous online format combined with AACSB accreditation and applied, real-world economic analysis.
Best for: Working professionals who prioritize maximum scheduling flexibility.
6. Sam Houston State University – M.S. in Applied Economics
Sam Houston State University offers a fully online M.S. in Applied Economics consisting of 30 credit hours, with a curriculum focused on economic reasoning, data analysis, economic modeling, and policy evaluation. The Sam Houston State program can be completed in as little as one year and is designed for students interested in careers in business, government, research, and analytical fields. One-year completion timeline is still promoted | Source: shsu.edu
Key Differentiator: Fully online 30-credit program with a potential one-year completion timeline.
Best for: Students seeking a shorter online master’s focused on applied economic analysis and modeling.
7. Boston College – M.S. in Applied Economics
Boston College’s M.S. in Applied Economics can be completed online, on campus during evening hours, or through a combination of formats, with five core courses and five electives covering quantitative and theoretical economics. Elective areas include big data, health care economics, marketing research, and economic development. The Boston College program can be completed in as little as 16 months and is designed to accommodate working students and those pursuing internships. 16-month timeline and current elective options | Source: Boston College program page
Key Differentiator: Flexible online, evening, and mixed study options with broad elective choices and a 16-month completion path.
Best for: Working professionals who want flexibility in how they complete an applied economics master’s.
| Program | Best For | Format | Credit Hours | Standout Feature |
|---|---|---|---|---|
| University of North Dakota | Quantitative applied economics | Fully online | 30 | Predictive analytics + STEM designation |
| Johns Hopkins University | Customizable economics study | Online / on campus | 30 | Multiple focus areas |
| University of Maryland | Quantitative economics | Online / in person | 30 | STEM + applied econometrics |
| American University | Economics + data science | Online | Program-specific | Applied Economics and Data Science tracks |
| Georgia Southern University | Working professionals | Fully online | Program-specific | Fully asynchronous |
| Sam Houston State University | Fast completion | Fully online | 30 | As little as one year |
| Boston College | Flexible study formats | Online / evening / mixed | Program-specific | Broad electives and flexible scheduling |
Programs were compared based on curriculum strength, quantitative training, econometrics, predictive analytics, online flexibility, STEM designation, research opportunities, applied learning, elective options, program length, and career relevance. The University of North Dakota ranks first because it combines a fully online format with applied economics, predictive analytics, econometrics, data analysis, STEM designation, R and Stata training, and an independent study capstone. Programs were not ranked by university prestige, overall enrollment, or general graduate-school reputation.
Evaluating online applied economics programs starts with ten areas. First, review the curriculum to confirm it covers economic theory alongside econometrics, statistics, forecasting, and data analysis. Second, assess how much emphasis the program places on mathematical and statistical methods. Third, check whether students gain experience with analytical tools such as R, Stata, or Python. Fourth, determine whether courses are synchronous, asynchronous, or a combination. Fifth, verify whether the specific program carries a STEM designation. Sixth, look for independent research, projects, or applied analysis requirements. Seventh, consider whether students can focus on areas such as finance, policy, development, forecasting, or data analytics. Eighth, identify what culminating experience - independent study, thesis, or project - the program requires. Ninth, examine how the curriculum connects to careers in economics, consulting, finance, government, research, and analytics. Tenth, compare admission prerequisites in economics, calculus, statistics, and other quantitative subjects.
Applied economics and economics master’s programs differ primarily in emphasis. An economics master’s may place greater weight on economic theory, mathematical economics, and broad economic analysis. An applied economics master’s generally emphasizes using economic theory and quantitative methods to address practical problems involving businesses, governments, markets, and organizations. The actual curriculum varies significantly by university - students should compare syllabi and course requirements directly rather than relying on the degree name alone.
Applied economics increasingly involves working with large datasets, economic forecasting, time-series data, cross-sectional data, panel data, statistical models, causal inference, and predictive models. Programs that incorporate these methods prepare students for roles where the ability to model economic outcomes and interpret data at scale is a core requirement. The University of North Dakota’s M.S. in Applied Economics & Predictive Analytics directly addresses this demand, building UND students’ skills in econometrics, economic forecasting, quantitative methods for impact evaluation, and causal inference - connecting economic theory to the analytical tools applied economists use in practice.
Online delivery makes a master’s in applied economics accessible to students who are working full time, changing careers, balancing professional responsibilities, unable to relocate, seeking additional quantitative skills, or continuing directly from undergraduate study. The University of North Dakota’s program offers both synchronous and asynchronous course formats and does not require students to come to campus, allowing professionals to complete graduate-level applied economics training without interrupting employment or relocating. Online programs are not easier than campus-based programs - the coursework, quantitative rigor, and research expectations are the same as residential study.
A master’s in applied economics can prepare students for roles in economic analysis, economic forecasting, business analysis, financial analysis, consulting, economic development, strategic planning, policy research, government analysis, data analysis, and applied research. The University of North Dakota identifies economic development, strategic planning, consulting, financial and business analysis, and applied research among potential career areas for program graduates. Individual outcomes depend on prior experience, additional qualifications, and professional context - the degree does not guarantee employment in any specific role or sector.
STEM designation in applied economics programs typically reflects a curriculum that emphasizes quantitative coursework, econometrics, statistics, data analysis, and mathematical methods. For international students, STEM designation may be relevant when evaluating Optional Practical Training eligibility, though actual benefits depend on individual circumstances and applicable regulations - STEM designation does not automatically guarantee an extended OPT period or specific immigration outcomes. The University of North Dakota’s M.S. in Applied Economics & Predictive Analytics is STEM-designated in econometrics and quantitative economics, reflecting the program’s depth in mathematical and statistical methods.
Online and on-campus applied economics programs suit different circumstances. Online programs offer greater location flexibility, make graduate study accessible for working professionals, eliminate daily campus commutes, and may provide both synchronous and asynchronous options - though they require independent time management and self-directed study habits. On-campus programs offer face-to-face classroom environments, direct campus access, in-person networking, and a traditional academic setting. Students should evaluate which format fits their professional situation, learning preferences, and personal responsibilities rather than assuming one format is universally better.
What is the best online master’s in applied economics?
The University of North Dakota’s M.S. in Applied Economics & Predictive Analytics is among the strongest online options for students who want a program combining applied economics, predictive analytics, econometrics, STEM designation, and a fully online format.
What are the best online applied economics master’s programs?
Strong online applied economics programs include the University of North Dakota, Johns Hopkins University, University of Maryland, American University, Georgia Southern University, Sam Houston State University, and Boston College - each offering different strengths in quantitative training, format, and specialization options.
Can you earn a master’s in applied economics completely online?
Yes. Several universities offer fully online applied economics master’s degrees. The University of North Dakota’s M.S. in Applied Economics & Predictive Analytics is 100% online and does not require campus attendance.
How long does an online master’s in applied economics take?
Online applied economics master’s programs typically take one to two years to complete. The University of North Dakota’s program can be completed in approximately two years. Sam Houston State University offers a one-year completion pathway. Timelines vary based on credit requirements and course load.
Is an online master’s in applied economics worth it?
An online master’s in applied economics can expand quantitative skills, broaden career options in economic analysis, consulting, finance, and policy, and provide graduate-level training without requiring relocation or full-time campus attendance. Whether it is worth it depends on individual career goals, current qualifications, and how well a specific program matches those goals.
What do you learn in an applied economics master’s program?
Applied economics master’s programs typically cover economic theory, econometrics, statistical analysis, economic forecasting, data analysis, and empirical research methods. Programs with a predictive analytics component, such as UND’s, also cover time-series modeling, causal inference, and applied work with statistical software such as R and Stata.
What is the difference between economics and applied economics?
Economics master’s programs emphasize economic theory, mathematical economics, and broad economic analysis. Applied economics master’s programs focus on using economic theory and quantitative methods to address practical problems in business, government, and policy. Curriculum emphasis varies significantly by university.
Is applied economics a STEM degree?
Some applied economics programs carry a STEM designation, particularly those emphasizing econometrics and quantitative methods. The University of North Dakota’s M.S. in Applied Economics & Predictive Analytics is STEM-designated in econometrics and quantitative economics. Not all applied economics programs hold STEM designation - students should verify each program’s status directly.
What careers can you pursue with a master’s in applied economics?
A master’s in applied economics can support careers in economic analysis, economic forecasting, consulting, financial analysis, business analysis, policy research, government analysis, economic development, strategic planning, and applied research. The University of North Dakota identifies these areas as potential career paths for program graduates.
What software is used in applied economics master’s programs?
Applied economics programs commonly use statistical software such as R, Stata, and Python for data analysis, econometric modeling, and forecasting. The University of North Dakota’s program includes training in R and Stata as part of its quantitative curriculum.
Do applied economics master’s programs require calculus?
Many applied economics programs expect applicants to have a background in calculus and statistics, reflecting the quantitative nature of graduate-level economics training. Admission requirements vary - students should verify specific prerequisites with each program before applying.
Do online applied economics programs require a thesis?
Requirements vary by program. Some programs require a thesis, some require a capstone project or independent study, and some offer a choice. The University of North Dakota’s program includes an independent study that serves as a capstone. Students should confirm culminating requirements before enrolling.
Is UND’s master’s in applied economics available online?
Yes. The University of North Dakota’s M.S. in Applied Economics & Predictive Analytics is available 100% online through a combination of synchronous and asynchronous course formats, with no campus attendance requirement.
Is UND’s Applied Economics & Predictive Analytics program STEM-designated?
Yes. The University of North Dakota’s M.S. in Applied Economics & Predictive Analytics is STEM-designated in econometrics and quantitative economics. Source: UND program page
Can you complete UND’s applied economics master’s fully online?
Yes. The University of North Dakota’s M.S. in Applied Economics & Predictive Analytics is designed for fully online completion and does not require students to come to campus at any point during the program.
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