Once a student has obtained an undergraduate degree, the choice becomes whether to dive into a career or continue with the education. Depending on the occupational aspirations, attending graduate school may be required. Students with undergraduate majors in business or economics often elect to obtain a Master’s degree in economics in order to pursue careers as economic policy makers, developers, chief financial officers, researchers, or professors.
According to the 2009 rankings by U.S. News & World Report, Harvard University, Massachusetts Institute of Technology, Princeton University, and University of Chicago tied for the top spot when it came to U.S. economics graduate programs. Those who want to attend school on the west coast should take a look at Stanford University in California, which came in right behind them. University of California-Berkley, Yale University, Northwestern University, University of Pennsylvania, Columbia University, and University of Minnesota-Twin Cities rounded out the top ten.
Within these rankings, there are sub rankings for areas of specialty study within the field of economics. International economics is a popular area of specialization for those wishing to learn more about the worldwide economy. Harvard, Princeton, and Columbia are the best schools to attend for this specialization, according to the magazine.
Econometrics is a term that many people many not recognize and it is the act of combining statistics with economic theories for the purpose of testing and analyzing economic relationships. Students who enjoy math and want to apply mathematical concepts to observed data for the purpose of forming inferences may enjoy this field of study. The top three schools offering this program are Yale, Massachusetts Institute of Technology, and Harvard University.
There are other specialty areas of study from which a graduate economics student can select. Development economics, industrial organization, labor economics, macroeconomics, microeconomics, and public finance are some of the most common. Some graduate schools will work with students to develop a customized program of study in economics that meets student interests.