5 Top Reasons to Pursue an MS in Applied Economics at College

If you’re thinking about taking the leap into the world of higher education, then you’ve probably already got the growth-oriented mindset needed to thrive in today’s climate. There are plenty of great programs to consider, but it can be tough to know which one will have the most real-world impact once you graduate.

It’s worth turning your attention to an important, highly practical, and versatile program in this regard – and applied economics fits this bill perfectly. With this in mind, here are five of the top reasons to study applied economics and what the qualification can mean for your career.

1. You Learn to Solve Real Issues

Some programs are far more conceptual and entrenched in theory than others. While this has its benefits, if you aren’t able to learn how to apply your program’s teaching to practical situations, it may not be the right one for you.

Applied economics can teach you how to solve real-world issues, and it will give you the tools you need to do so. If you have a passion for economics and you’re interested in making an impact in the field, pursuing a program that teaches you a transferrable set of technical skills could be the best way to go.

2. It Prepares You for Higher-Paying Jobs

An MS in applied economics might be able to help you unlock higher-paying job opportunities in the future. The qualification looks great on the resume, but more importantly, it can teach you advanced skills that top employers watch out for, like analytical problem solving and numerical competence.

The average salary for a financial manager in the United States is $102,599, according to Indeed, which is a great salary for a rewarding career that houses many applied economics graduates.

3. You Can Meet Likeminded Professionals

If you feel as though your current career is beginning to stagnate, you might need to form some new connections and surround yourself with a network of likeminded people. An academic environment is ideal for this, as you will benefit from the joys of collaborative learning, such as increased creativity and critical thinking.

Plus, your classmates will be there because they want to be there, which in turn creates a highly motivating and positive learning space for everyone.

4. It Can Improve Your Business Skills

If you’d rather be your own boss and chase success as an entrepreneur, a granular knowledge of economics is extremely helpful.

Entrepreneurs need a wide variety of skills to help their organizations flourish, not least of all the ability to manage money and make informed financial decisions. This is, in many ways, the bread and butter of applied economics.

5. You Will Learn to Work with Data

A data-driven working world can be hard to navigate without the right digital skills. In this regard, an applied economics program doesn’t just teach you the skills you need to interpret data successfully; it also enables you to familiarize yourself with the tools used by industries today.

Final Thoughts

Ultimately, applied economics is a dependable qualification that will likely put you in good standing for securing an incredibly rewarding career. Still, if you’re interested in going down this route and want to achieve success, you’ll need to work hard in all areas, not just your education – that’s just the beginning.

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