Economics
Economics graduates earn an average annual wage of $129,784, making it one of the higher-paying degree fields. With 104,760 professionals in the field earning competitive wages, this degree offers strong career prospects. The field combines competitive wages with a large and growing workforce, making it an attractive option for students seeking strong career opportunities.
Key Statistics
Institutions
Information about the types of higher education institutions that grant degrees in Economics and the types of students that study this field.
Tuition Costs for Common Institutions
$N/A Median In-State Public
$N/A Median Out of State Private
Tuition costs for Economics majors are, on average, $N/A for in-state public colleges, and $N/A for out of state private colleges.
Tuition costs comparison for Economics programs.
Degrees Awarded Over Time
21,627 Total Degrees Awarded in 2023
This chart shows the number of degrees awarded in Economics from 2015 to 2023.
Historical trend of degrees awarded in Economics.
Top 5 Schools by Enrollment
| # | School | State | Enrollment |
|---|---|---|---|
| Insufficient Data | |||
Schools with the largest enrollment offering Economics programs.
Top 5 Most Affordable Tuition
| # | School | State | Tuition |
|---|---|---|---|
| Insufficient Data | |||
Schools with the lowest tuition costs for Economics programs.
Top 5 Most Affordable Net Price
| # | School | State | Net Price |
|---|---|---|---|
| Insufficient Data | |||
Schools with the lowest net price (after financial aid) for Economics programs.
Graduation Rates
63.30% Median Graduation Rate (150% of normal time)
62.74% Average Graduation Rate
888 Institutions Reporting
51.43% - 75.01% Interquartile Range
Graduation/completion rates for Economics programs across institutions.
Employment
Information on the businesses and industries that employ Economics graduates and on wages and locations for those in the field.
Yearly Income for Common Jobs
$129,784 Average Wage in Workforce
The average salary for Economics majors is $129,784.
Average annual salaries of the most common occupations for Economics majors.
Occupations by Share
104,760 2023 Workforce
The number of Economics graduates in the workforce has been growing.
Various jobs filled by those with a major in Economics by share of the total number of graduates.
Return on Investment & Value
Financial analysis of Economics degree including debt, earnings, and return on investment metrics.
Financial Value Analysis
ROI data is not available for this degree program.
Financial value comparison for Economics degree.
Diversity
Demographic information for those who earn a degree in Economics in the United States.
Workforce Age
N/A Average Age in 2023
This chart shows distribution of ages for employees with a degree in Economics.
Age distribution for Economics degree holders in the workforce.
Gender Distribution
21,627 Total Degrees Awarded
14,264 Male (65.95%)
7,363 Female (34.05%)
Gender distribution of Economics degree recipients.
Race and Ethnicity Distribution
9,371 White (43.33%)
3,837 Hispanic or Latino (17.74%)
2,859 Asian (13.22%)
1,018 Black or African American (4.71%)
911 Two or More Races (4.21%)
Racial and ethnic distribution of Economics degree recipients.
Degrees Awarded
The most common degree types awarded to students graduating in Economics are Bachelors Degree, Masters Degree, and Associates Degree.
Distribution of degree types awarded in Economics.
Skills
Data on the critical and distinctive skills necessary for those working in the Economics field from the Bureau of Labor Statistics.
Required Skills
Economics majors need many skills, but most especially Critical Thinking, Active Listening, and Reading Comprehension.
Rating of how necessary various skills are for Economics majors.
Skills Bar Chart
This bar chart shows the same information as the radar chart, displaying the importance of each skill.
Skill importance ratings for Economics majors.
About
Economics
In 2023, 21,627 degrees were awarded across all undergraduate and graduate programs in Economics.
CIP Code
45.0601 - Economics
Insights and Analysis
High Earning Potential: Economics graduates earn an average annual wage of $129,784, placing them among the top earners in the workforce. This strong earning potential reflects both the demand for skills in this field and the value employers place on this degree.
Data Sources
This page uses data from the following sources:
- College Scorecard - U.S. Department of Education
- Institutional characteristics, costs, completion rates, and earnings data
- Data years: 2015-2024
- Source: collegescorecard.ed.gov
- Bureau of Labor Statistics (BLS) Occupational Employment and Wage Statistics (OEWS)
- Employment and wage data by occupation
- Latest data: May 2024
- Source: bls.gov/oes
- O*NET Online - U.S. Department of Labor
- Occupational skills, knowledge, abilities, and work activities
- Database version: 28.0 (August 2023)
- Source: onetcenter.org
- IPEDS (Integrated Postsecondary Education Data System) - National Center for Education Statistics
- Institutional data, completions, enrollment, and financial aid
- Data years: 2015-2024
- Source: nces.ed.gov/ipeds
- Census Bureau American Community Survey (ACS)
- Demographic and workforce data
- Latest data: 2023 ACS 5-Year Estimates
- Source: census.gov/acs
Data Processing: All data has been processed, cleaned, and aggregated for presentation. Where specific data points are unavailable, estimates are based on available data and clearly marked.
Last Updated: Data reflects the most recent available information as of January 2025.
Methodology
Data for this profile is sourced from the U.S. Department of Education's College Scorecard dataset, IPEDS completion data, and Bureau of Labor Statistics employment data.
All financial figures are adjusted for inflation and represent the most recent available data. Employment and wage data are from the most recent Census Bureau ACS PUMS estimates.