Best institutions to study Applied Economics
A program that focuses on the application of economic principles and analytical techniques to the study of particular industries, activities, or the exploitation of particular resources.
28 U.S. institutions graduated 378 Applied Economics students in 2024–25 (IPEDS). It is CIP 45.0602, a specialization of Economics (CIP 45.06), and leads most directly to the Economists occupation (BLS SOC 19-3011).
About Applied Economics programs
A program that focuses on the application of economic principles and analytical techniques to the study of particular industries, activities, or the exploitation of particular resources. Includes instruction in economic theory; microeconomic analysis and modeling of specific industries, commodities; the economic consequences of resource allocation decisions; regulatory and consumer factors; and the technical aspects of specific subjects as they relate to economic analysis.
See also: 01.0103 - Agricultural Economics., 19.0402 - Consumer Economics., 52.0601 - Business/Managerial Economics., 03.0204 - Environmental/Natural Resource Economics.
Source: National Center for Education Statistics, Classification of Instructional Programs (CIP 2020).
The Applied Economics program focuses on the practical application of economic principles and analytical techniques to various industries and resources. This program is designed for students interested in understanding economic theories and their implications in real-world scenarios, making it ideal for those who aspire to work in sectors such as finance, labor, or agriculture.
Students in this program will develop core skills in critical thinking, mathematics, and data analysis. Coursework typically includes economic theory, microeconomic analysis, and the study of regulatory and consumer factors, equipping graduates with the knowledge needed to analyze economic phenomena effectively.
Credentials awarded
What Applied Economics graduates earned in 2024–25, by award level (IPEDS completions).
- Bachelor's degree261 graduates / yr · 14 institutions69%
- Master's degree88 graduates / yr · 10 institutions23%
- Postbaccalaureate certificate23 graduates / yr · 3 institutions6.1%
- Doctor's degree - research/scholarship4 graduates / yr · 3 institutions1.1%
- Award of at least 12 weeks but less than 1 academic year2 graduates / yr · 1 institution0.5%
Graduates over time
Applied Economics completions reported to IPEDS each year, all award levels combined.
| Year | Graduates |
|---|---|
| 2012 | 581 |
| 2013 | 547 |
| 2014 | 679 |
| 2015 | 728 |
| 2016 | 773 |
| 2017 | 877 |
| 2018 | 706 |
| 2019 | 695 |
| 2020 | 617 |
| 2021 | 590 |
| 2022 | 527 |
| 2023 | 438 |
| 2024 | 356 |
| 2025 | 378 |
Top 28 institutions for Applied Economics, ranked by graduates
Graduates (IPEDS completions), 2024–25. Award levels show which credentials each institution confers in this specialization.
| # | Institution | Graduates / yr | Grad rate | Net price | Field earnings* (1 yr) |
|---|---|---|---|---|---|
| 1 | Binghamton University Vestal, NYPublicBachelor's | 97 | 82% | — | $48,120 |
| 2 | Ursinus College Collegeville, PAPrivate not-for-profitBachelor's | 30 | 73% | $27,153 | $52,496 |
| 3 | University of Minnesota - Twin Cities Minneapolis, MNPublicBachelor's | 29 | 85% | — | $56,902 |
| 4 | Utah State University Logan, UTPublicBachelor'sMaster's | 29 | 59% | — | $60,472 |
| 5 | University of Houston Houston, TXPublicMaster's | 22 | 65% | — | $50,820 |
| 6 | Virginia Polytechnic Institute and State University Blacksburg, VAPublicBachelor's | 22 | 86% | — | $56,261 |
| 7 | Florida State University Tallahassee, FLPublicMaster's | 21 | 86% | — | $47,304 |
| 8 | Georgetown University Washington, DCPrivate not-for-profitMaster's | 20 | 95% | $22,242 | $84,460 |
| 9 | New Mexico State University - Main Campus Las Cruces, NMPublicPost-degree cert. | 17 | 55% | — | — |
| 10 | University of Connecticut Storrs, CTPublicBachelor's | 14 | 83% | — | $52,227 |
| 11 | Farmingdale State College Farmingdale, NYPublicBachelor's | 12 | 53% | — | — |
| 12 | University of Washington - Tacoma Campus Tacoma, WAPublicBachelor's | 11 | 63% | — | — |
| 13 | Georgia Southern University Statesboro, GAPublicMaster's | 7 | 55% | — | — |
| 14 | University of Northern Iowa Cedar Falls, IAPublicBachelor's | 6 | 68% | — | $49,314 |
| 15 | Bowling Green State University - Main Campus Bowling Green, OHPublicBachelor's | 6 | 64% | — | $52,864 |
| 16 | Colorado School of Mines Golden, COPublicPost-degree cert. | 5 | 82% | — | — |
| 17 | Belmont Abbey College Belmont, NCPrivate not-for-profitBachelor's | 5 | 47% | $22,639 | — |
| 18 | University of Rhode Island Kingston, RIPublicMaster'sDoctoral | 5 | 73% | — | $43,444 |
| 19 | SUNY Buffalo State University Buffalo, NYPublicMaster's | 3 | 33% | — | $41,547 |
| 20 | Western Carolina University Cullowhee, NCPublicBachelor's | 3 | 60% | — | — |
| 21 | Oregon State University Corvallis, ORPublicMaster'sDoctoral | 3 | 70% | — | $45,708 |
| 22 | University of Arizona Tucson, AZPublicBachelor's | 2 | 68% | — | $47,908 |
| 23 | University of Massachusetts - Amherst Amherst, MAPublicAward of at least 12 weeks but less than 1 academic year | 2 | 83% | — | $52,309 |
| 24 | Vanderbilt University Nashville, TNPrivate not-for-profitDoctoral | 2 | 94% | $14,854 | $84,311 |
| 25 | Southern Methodist University Dallas, TXPrivate not-for-profitMaster's | 2 | 84% | $33,246 | $71,630 |
| 26 | University of San Francisco San Francisco, CAPrivate not-for-profitBachelor's | 1 | 70% | $37,121 | $58,046 |
| 27 | Missouri State University - Springfield Springfield, MOPublicPost-degree cert. | 1 | 58% | — | $44,898 |
| 28 | Sam Houston State University Huntsville, TXPublicMaster's | 1 | 55% | — | — |
* Median earnings 1 year after graduation for the broader Economics field (CIP 45.06) at these institutions; College Scorecard does not publish earnings at the 6-digit level.
Offered in 23 states
Where Applied Economics graduates come from. Each state links to all Economics programs offered there.
Careers & outlook
The payoff after graduation: occupation 19-3011, Economists, and its national outlook.
Graduates of the Applied Economics program can pursue careers as economists, market research analysts, or social science research assistants. With an annual growth outlook of 1.2% and approximately 900 job openings each year, the median wage for economists is around $115,440, with a typical education requirement of a Master's degree.
Top-paying metros
Career pathways for CIP 45.0602
The occupations the NCES crosswalk maps this 6-digit code to, with BLS pay and 10-year outlook.
| Occupation | US median pay | Growth | Openings / yr | Typical entry education |
|---|---|---|---|---|
Economistsprimary SOC 19-3011 | $124,720 | +1.2% Little or no change | ~900 | Master's degree |
Managers, All Other SOC 11-9199 | $141,900 | +4.5% About as fast as average | ~106,700 | Bachelor's degree |
Market Research Analysts and Marketing Specialists SOC 13-1161 | $78,760 | +6.7% Faster than average | ~87,200 | Bachelor's degree |
Social Science Research Assistants SOC 19-4061 | $61,990 | +4.4% About as fast as average | ~5,200 | Bachelor's degree |
Economics Teachers, Postsecondary SOC 25-1063 | $123,920 | +2.1% About as fast as average | ~1,200 | Doctoral or professional degree |
Survey Researchers SOC 19-3022 | $69,460 | -5.2% Decline | ~700 | Master's degree |
Job Zone Five: Extensive Preparation Needed
- Education
- Most of these occupations require graduate school. For example, they may require a master's degree, and some require a Ph.D., M.D., or J.D. (law degree).
- Experience
- Extensive skill, knowledge, and experience are needed for these occupations. Many require more than five years of experience. For example, surgeons must complete four years of college and an additional five to seven years of specialized medical training to be able to do their job.
- Training
- Employees may need some on-the-job training, but most of these occupations assume that the person will already have the required skills, knowledge, work-related experience, and/or training.
Related careers
Skills & knowledge in Applied Economics programs
From the U.S. Dept. of Labor for the occupation this specialization most leads to.
Skills you'll build
Knowledge areas
Abilities that matter most
Day-to-day work activities
What graduates do on the job
- Study economic and statistical data in area of specialization, such as finance, labor, or agriculture.
- Compile, analyze, and report data to explain economic phenomena and forecast market trends, applying mathematical models and statistical techniques.
- Study the socioeconomic impacts of new public policies, such as proposed legislation, taxes, services, and regulations.
- Explain economic impact of policies to the public.
- Review documents written by others.
- Provide advice and consultation on economic relationships to businesses, public and private agencies, and other employers.
Tools and technology used
Other Economics specializations
The 5 other 6-digit CIP codes under Economics (CIP 45.06).
- Econometrics and Quantitative EconomicsCIP 45.060322,866 graduates / yr320 institutions
- EconomicsCIP 45.060119,798 graduates / yr638 institutions
- Development Economics and International DevelopmentCIP 45.0604384 graduates / yr42 institutions
- International EconomicsCIP 45.0605204 graduates / yr18 institutions
- EconomicsCIP 45.0699143 graduates / yr24 institutions
Common questions
What is the focus of the Applied Economics program?+
The program emphasizes the application of economic principles and analytical techniques to specific industries and resources.
What degrees can I earn in this program?+
You can earn a Bachelor's degree, Master's degree, postbaccalaureate certificate, or a Doctor's degree in Applied Economics.
What skills will I develop in this program?+
Students will enhance skills in critical thinking, mathematics, data analysis, and effective communication.
What career opportunities are available after graduation?+
Graduates can work as economists, market research analysts, or social science research assistants, with a median wage of $115,440.
What is the CIP code for Applied Economics?+
Applied Economics is CIP 45.0602 in the NCES Classification of Instructional Programs (CIP 2020), a 6-digit specialization within Economics (CIP 45.06). NCES defines it as: A program that focuses on the application of economic principles and analytical techniques to the study of particular industries, activities, or the exploitation of particular resources. Includes instruction in economic theory; microeconomic analysis and modeling of specific industries, commodities; the economic consequences of resource allocation decisions; regulatory and consumer factors; and the technical aspects of specific subjects as they relate to economic analysis.
How many institutions offer Applied Economics programs?+
28 U.S. institutions reported Applied Economics graduates in IPEDS 2024–25, across 23 states, awarding 378 credentials in the year. That is 0.9% of all Economics graduates.
How much do Applied Economics graduates earn?+
Earnings are not published at the 6-digit CIP level by any federal source. The Economists occupation, which Applied Economics most directly leads to, pays a median of $124,720 a year nationally (BLS OEWS May 2025), and graduates of the broader Economics field report median earnings of $52,309 one year after graduation (College Scorecard).
About the data on this page
Every figure comes from an official federal or public source. Here is each one and the release it is currently on.
Program definitions are from the NCES Classification of Instructional Programs (CIP 2020). Skills, knowledge, abilities, work activities, tools, and job zones are from the O*NET database by the U.S. Department of Labor, used under the CC BY 4.0 license.
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