Masters in Economics investigate all factors involved in the production, distribution and consumption of goods and services. Economics analyses both small scale (Microeconomics) and global (Macroeconomics) economic factors. Master's degrees in Economics offered by universities and colleges worldwide teach students how to optimise all economic actions in order to improve the well-being and prosperity of economic entities and consumers.
Who should study a Master's in Economics? Of course, you should be comfortable with using Math and numbers, but Economics is much more than that. A Master's degree in Economics might be right for you if you are ready to change the way you look at the world and understand the dynamics of how human behaviour shapes our way of life. Economics is a versatile subject that connects to a wide range of other disciplines, and also a sort of universal language that can be applied in many contexts.
Most Economics Masters are offered as M.Sc. (Master of Science) or M.A. (Master of Arts) degrees. It will take 2 years to finish your Master's studies in most countries around the world. You can specialise in a wide range of subjects such as Financial Economics, Labour Economics, International Economics, Business Economics, International Economics, Environmental Economics, Development Economics, Econometrics, and much more.
While studying an graduate degree in Economics you will attend a variety of classes which vary depending on the university you'll be attending. Some general classes you are bound to run into include: Financial Economics, Political Economy, Advanced Macroeconomics and Microeconomics, Economic Development, International Business, Corporate Finance, Accounting, and more.
Because Economics is such a broad and overarching field, it has the potential to help students develop a lot of skills they can use in their future careers. You'll learn how cu evaluate and calculate risk, make predictions about how certain factors will influence the behaviour of society. You'll become familiar with mathematical models and how to use them, while developing your skills for analysis and synthesis. Economics studies also create a strong basis for future Business studies, due to the deep understanding of market dynamics. Most of all, you'll learn how to best communicate your findings and ideas to people who are not experts in the field but need your insight to make business decisions.
While a Master's in Economics is a great source of information and expertise, it doesn't limit itself to a specific career after graduation. Numerous fields are waiting for Economy graduates in the public and private sectors. You will find work in the government, banks, business journals, or in higher education if you plan of pursuing a PhD in Economics, later on. You will be able to target job titles like economist, consultant, economic analyst, researcher, statistician, data scientist, financial or business analyst or stock market specialist. Economics M.A. graduates can make use of their education in other disciplines like Accounting, Auditing, Insurance, Management, Advertising, Actuaria Science, and more.Read more about studying a Economics degree
Not sure if Economics is for you?
In Austria, you can find some of the most affordable education institutions in Europe. At public universities, degrees are free for all EU/EEA citizens, while non-EU/EEA students pay affordable fees, usually under 2,000 EUR per year. The Austrian education system achieves this without sacrificing academic quality, as local universities are regularly ranked among the best on the continent. Austria is also one of the safest nations in the world, where you will enjoy a high quality of life and top-notch infrastructure and services. For art lovers, there are many museums and galleries to explore, and we shouldn’t forget Austria’s gifts to music, which include Wolfgang Amadeus Mozart, Franz Schubert, and others. Sports enthusiasts can enjoy activities like alpine skiing, mountain biking, hockey, swimming, etc.Read more about studying abroad in Austria
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