Master’s in Economics in the USA: Why is it Worth Pursuing?

Ever wondered how billionaires manage their wealth, nations navigate recessions, or tech giants predict market trends? It's all about economics, the invisible force shaping our world, and mastering it can open doors to lucrative careers and impactful change. But with countless universities offering Master's in Economics in the USA, is it worth the investment?

If you are still pondering on this question, then we have the answer, Let's dive deep into the blog and understand why pursuing this degree could be your ultimate power move.

Why Pursue a Master’s in Economics at US University?

There are compelling reasons why pursuing this degree sets you on a path of great opportunities. Once you set your sights on this academic pursuit, there's no looking back—you'll be compelled to seize the opportunities awaiting you.

• The Bureau of Labor Statistics anticipates a 6% growth in economist employment by 2031, translating to approximately 1,400 job openings annually.
• Students pursuing an MS at universities in the USA are typically offered an average scholarship of $10,000 per year
• The USA boasts top-ranking universities for Economics globally. According to the QS Global Rankings, 21 American universities are among the top 50 international Economics institutions.
• Graduates with a master's degree in economics from the US comprise 22% of all economists working in banks and other financial fields

Top 10 Best Universities for Master’s in Economics in the USA

Get a detailed overview of the best universities in the USA for a master’s in economics. These institutions offer exceptional academic programs, renowned faculty, and unparalleled opportunities for students aspiring to excel in the field of economics.

Course Curriculum of MS in Economics in the USA

The Master in Economics program in the US provides students with a blend of practical and theoretical approaches, catering to individuals with backgrounds in mathematics or economics.

Below are some areas where students can specialize:

Course Subjects

1. Econometrics
2. Game Theory
3. Interpretational Economics
4. Macro and Microeconomics
5. Financial Economics
6. Labour Economics
7. International Economics
8. Business Economics

The curriculum taught at US universities focuses on current topics, thus explaining the high number of Indian students pursuing studies there.

Master’s in Economics in the USA Requirements: Eligibility Criteria and Document Requirements

Now, it's time to take the pivotal stepping stone awaiting your academic journey, eligibility criteria, and documentation. These prerequisites serve as the gateway to your aspirations, setting the stage for your stride.

MS in Economics in USA Eligibility Criteria

• Completion of 16 years of education, including a four-year bachelor's degree, is typically required for pursuing master's studies in the USA.
• Language proficiency is essential, with recommended IELTS scores ranging from 7.0 to 7.5 and TOEFL scores from 90 to 100.
• A competitive GRE score, typically falling between 300 and 320, is also important for admission.
• Securing funding to support their studies is crucial for prospective students.
• Upon acceptance into a university, students can proceed with their USA student visa application.

Document Requirements

• Official Transcripts: Ensure to have official transcripts ready, which may be needed at the time of accepting offers or along with the applications. In some instances, certified copies of transcripts may also be required.
• English Language Test Scores: Provide scores of English language proficiency tests such as IELTS, TOEFL, or their equivalents.
• Letters of Recommendation: Secure 2 to 3 letters of recommendation from appropriate sources.
• Statement of Purpose (SOP) / Personal Statement / Letter of Intent: Prepare a compelling statement explaining your academic and professional aspirations.
• Resume/work experience format: Update your resume to reflect your educational background, work experience, and achievements accurately.

Application Process for Pursuing a Master in Economics in the USA

From demonstrating language proficiency to showcasing your academic ability, each step plays a pivotal role in shaping your trajectory. Outlined below is the process flow, providing a roadmap to navigate the journey ahead.

• Step 1: Explore University Websites: Begin by visiting the official websites of the universities you're interested in and review their eligibility criteria for the Master in Economics program.
• Step 2: Fill Out Admission Forms: Once you've identified suitable programs, complete the admission forms provided by the universities. Ensure that you provide accurate information and upload all required documents as already discussed above
• Step 3: Financial Arrangements: Make financial arrangements to cover your tuition fees, living expenses, and other associated costs. Pay the required registration fees as outlined by the university.
• Step 4: Await University Response: Once you've submitted your application, patiently await a response from the university. This may take some time, so remain vigilant and regularly check your email for updates.
• Step 5: Visa Application Process: Upon receiving an acceptance letter from the university, begin the visa application process. Prepare all necessary documents, including the application fee payment receipt, a valid passport, Form I-20 and Form DS-160, academic transcripts, and standardized test scores.
• Step 6: Attend Personal Interview: Schedule and attend a personal interview as part of the visa application process. Be prepared to discuss your academic background, intentions for studying in the USA, and plans for returning to your home country after completing your studies.
• Step 7: Obtain a Student Visa: Following a successful interview and document verification, you will be issued a student visa for studying in the USA. Congratulations! You're now ready to move to the US for your Master in Economics course.

Best Economic Degree Jobs in the US and Their Average Salary

In an industry poised for continual advancement, economists play a vital role in shaping economic policies. Dive into the wealth of job prospects available to economists. Visualize the abundance of opportunities through the comprehensive graph provided below.

Top Recruiters in the US After Pursuing Master in Economics

Explore the top recruiters in the US eagerly scouting for talent in the field of economics, and discover the myriad paths awaiting your expertise and acumen.

1. Federal Reserve Bank of New York

2. Federal Reserve Bank of San Francisco

3. Federal Reserve Bank of Boston

4. Consumer Financial Protection Bureau

5. Zillow

6. Mathematica

7. Amazon.com

8. World Bank

Pursue Master’s in the USA with GetGIS Immigration & Study Abroad Services

In conclusion, opting for a Master's in Economics in the USA can be a highly rewarding and valuable endeavor. The combination of world-renowned universities, cutting-edge research opportunities, and vibrant academic communities makes the USA an attractive destination for aspiring economists.

For personalized guidance and support throughout your application process, consider reaching out to GetGIS. With our expertise in study abroad services, hand-holding in SOP assistance, student visas, admissions processes, and more, GetGIS can help turn your dream of studying economics in the USA into a reality.

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