Top 9 Best Online PhD Economics Programs [2024] | GradCafe (2024)

Economists have excellent job prospects in today’s labor market. With a doctorate in economics from a reputed university and strong academic record, you’ll find many well-paid job opportunities in academia or policy. Almost every field needs economists — organizations rely on economists’ statistical, analytical, and problem-solving skillsto find solutions to important issues.

Most students need a master’s of economicsdegree to move forward with the PhD. But some schools accept transferable credits from related programs, too!

However, not everyone can afford to earn a doctorate on campus. So, an online PhD economics degree is a great alternative.

Below are some of the best online economics PhD programs and helpful information on jobs, salaries, costs, preparation tips, and more.

Best Online PhD Programs in Economics

Ready to pursue your doctorate in economics online? Let’s dive into our list of top PhD economics online programs.

Liberty University

PhD in Public Policy – Economic Policy

Liberty University offers opportunities to pursue higher education across diverse disciplines with a foundation of Christian ethics. This 100% online PhD in economics program allows you to learn from established leaders in economic policy-making.

• Courses: Economic policy studies, economics & public policy, policy analysis & research design
• Credits: 60
• Duration: 3 years
• Tuition: $595 per hour
• Financial assistance: Grants, scholarships, and loans.
• Acceptance rate: 50.1%
• Location: Lynchburg, Virginia

Atlantic International University, School of Business and Economics

Doctor of Economics

AIU is a primarily online university that emphasizes freedom of inquiry and free thought exchange between students and faculty. This PhD in economics online degree aims to help students who want to pursue research or teaching in economics or business.

• Courses: Economics of growth & development, microeconomic research, mathematics for economists
• Credits: 60
• Tuition: Refer tuition page
• Financial assistance: Scholarships
• Acceptance rate: N/A
• Location: Honolulu, Hawaii

Bircham International University

Doctor – Economic Science

Bircham International University is a global educational institution with a decentralized structure offering higher education programs in many languages. The university’s PhD economics distance learning program helps students develop a deep understanding of how people see value in the production, consumption, and distribution of goods and services.

• Courses: Micro- and macroeconomics, capital markets, economic analysis.
• Credits: 45-72
• Duration: 24 months
• Tuition: $7,650 to $12,240
• Financial assistance: Scholarships
• Acceptance rate: N/A
• Location:Miami, Florida

Ottawa University

Doctor of Business Administration

Ottawa University is affiliated with the Ottawa tribe of Oklahoma and the American Baptist Church. It offers a range of online programs to mold students into valuable leaders. This distance PhD economics program is mostly online but requires six two-day residencies. Finally, the program offers courses in strategy, capital management, and finance with a focus on economics.

• Courses: Finance value generation strategy, strategic human capital management, informed decision-making
• Credits: 56
• Duration: 3 years
• Cost: $4,887 per semester
• Acceptance rate: 70.3%
• Location: Ottawa, Kansas

California Baptist University

Doctor of Business Administration

California Baptist University is a non-profit, private university that ranks #34of the best western regional colleges. Although not an entirely online doctorate in economics, this DBA program offers courses in economics, especially on applying theories of economics to business.

• Courses: Applying economic theory to business, international business in global markets, and quantitative research
• Credits: 56
• Duration: 36 months
• Tuition:$795 per unit
• Financial assistance: Grants, loans
• Acceptance rate: 80.2%
• Location: Riverside, California

Hampton University Online

Doctor of Philosophy in Business Administration

Hampton University Online provides opportunities for adults to continue their studies through mostly online means and with a scientific approach. This PhD is a hybrid business administration program that involves two compulsory four-week summer residencies and covers managerial economics as part of the program.

• Courses: Managerial economics, organization theory & practice, organizational behavior
• Credits: 61
• Duration: 3.5 years
• Tuition: $695 per credit
• Financial assistance: Scholarships, grants, work-study, loans, and military benefits.
• Acceptance rate: 36%
• Location: Hampton, Virginia

Marymount University, College of Business, Innovation, Leadership, and Technology (BILT)

Online DBA in Business Intelligence

Marymount Universitywas ranked #31 by US News & World of all southern regional colleges. This online Doctor of Business Administration is equivalent to an economics PhD online program as you can study economics for business decision-making and courses in strategy with a data-driven approach.

• Courses: Economics for business decision making, using data for business intelligence, and strategy in a changing climate.
• Credits: 36
• Duration: 3 years
• Tuition:$1,140 per credit hour
• Financial assistance: Grants, scholarships, loans, student employment, and assistantships.
• Acceptance rate: 85.3%
• Location: Arlington, Virginia

William Howard Taft University

Doctor of Business Administration

William Howard Taft University is a leader in distance education and aims to provide affordable and quality education in business, law, education, and other disciplines. This DBA program includes several courses in economics and its application in the business sector.

• Courses: Designing economic business strategies, global economy, and global business practices & challenges.
• Credits: 60
• Duration: 37 months
• Tuition: $360 per credit
• Financial assistance: Scholarships, grants, military benefits, loans, and employer reimbursem*nt.
• Acceptance rate: N/A
• Location: Lakewood, Colorado

Baker College

Doctor of Business Administration

Baker College was named one of Newsweek’s top American online schoolsand offers fully online and hybrid programs in fields such as business, health science, and education. This DBA program has microeconomics and macroeconomics courses and explores how business leaders implement successful global strategies with limited resources.

• Courses: Global financial economy, leading 21st-century organizations, managing in a worldwide context
• Credits: 60
• Duration: 3.5 years
• Tuition: $915 per credit hour
• Financial assistance: Scholarships, grants, and loans.
• Acceptance rate: 73%
• Location: Owosso, Michigan

What Do I Need to Get a PhD in Economics?

You will likely need an undergraduate or postgraduate degree in economics or a related field to apply for a PhD in economics program. Certain programs may have other prerequisites, so check with the admissions office well in advance of the application deadline.

Once accepted, you’ll have to study various courses in economics, finance, business, management, mathematics, statistics, and strategy to earn your PhD in economics online degree.

Finally, you’ll have to pass examinations and other assessments, including a final qualifying exam. Most programs also have a research component, which means submitting a thesis or dissertation.

Preparing for an Economics Doctorate Program

Our advice? Prepare early for yourPhD in economics program.

At the undergraduate level, consider taking more courses in subjects like mathematics, statistics, and calculus. It also helps to work with faculty, conduct undergraduate research, and complete professional internships whenever possible. All this lays the groundwork to prepare you well for a PhD in economics program.

Things to Consider When Choosing an Online PhD Economics Program

The right program for you depends on a range of personal factors. Consider the following when assessing programs to narrow it down:

• Make sure the specializations and subjects offered by the program match your passions and will help you achieve your career goals.
• Review available research options and make sure these also match your goals
• The faculty should have a strong reputation, especially in your field of choice
• Ensure the costs fit your budget or that there are sufficient funding options available
• Look at where past alumniare now working, and see how this fits with your ideal future

Why Get a Doctorate in Economics?

A doctorate in economics opens doors to some of the best jobs in academia and policy. According to the Bureau of Labor Statistics, an economist’s median salaryis $105,630. Even better, jobs in the field are expected to grow by 13% from 2020-2030, higher than the average of all occupations.

Jobs and Salaries for Doctors of Economics

A PhD in economics online credential can equip you for roles in business, government, research, and education. Here are some top jobs for graduates, with average salaries for each:

• Economist ($79,352)
• Statistician ($78,596)
• Financial Manager ($96,045)
• Urban Planner ($59,309)
• Financial Analyst ($63,195)

What Is the Average Cost of a PhD in Economics?

According to the National Center for Education Statistics(NCES), the average tuition for a PhD in economics programis $19,749 per year. You can expect to pay around $12,500 for public university programs and $26,621 for private. Keep in mind these figures only cover tuition – you’ll also need to pay for books, technology fees, and other educational expenses.

How Long Does it Take to Get a PhD in Economics?

Typically, a PhD in economics takes 4-6 years to complete. However, you may be able to complete a doctorate in three or even two years at some universities, especially with an online PhD.

What Skills Do You Gain From a PhD in Economics?

First and foremost, you’ll gain strong mathematical, statistical, and analytical skills as part of your doctorate in economics. You’ll also learn to apply economic concepts and modeling to address issues in business, government, finance spaces. Finally, economics PHD grads gain expertise in writing, presentation, communication, and problem-solving.

Facts and Statistics about Economics PhD Holders

According to Brookings, universities awarded 1,216 PhDs in economicsin 2020 — 66% to men and 34% to women. Foreign students with temporary visas earned around 60% of the doctorates.

Among the permanent residents who got doctorates in economics, 4.9% were black and 71.8% white, with the remaining graduates of Asian, Hispanic, and other descent.

Final Thoughts

Compared to online PhDsfrom other disciplines, you won’t find as many online PhD economics programs. However, you can find related programs, like online Doctor of Business Administration (DBA) or accountingwith an emphasis on economics-related subjects like microeconomics and macroeconomics. This is a good substitute if your preferred university doesn’t offer a PhD economics online degree.

Considering other business-related PhD programs? Keep a clear path toward a lucrative career with our list of the highest paying PhDs.

Frequently Asked Questions

1. Can You Get a PhD in Economics Online?

Yes – some universities offer online PhD economics programs that you can complete online. Many of these online programs can be completed in as little as three years.

2. Is an Economics PhD Worth It?

A PhD in economics is one of today’s most sought-after qualifications. Economists are in high demand and have an annual median salary of $105,630, with prospects even greater for graduates with a PhD.

3. How Many Years is a PhD in Economics?

APhD in economics takes 3-6 years to complete.