Applied Economics: Program Overview, Universities, Careers & Salaries
Program Overview
Applied Economics equips students with advanced analytical tools to evaluate real-world economic challenges across industries, markets, and resource sectors. This program bridges theoretical economics with practical problem-solving, emphasizing data-driven decision-making in dynamic environments.
- Economic theory: Foundational principles governing market behavior, scarcity, and resource allocation, providing a rigorous basis for analyzing economic systems.
- Microeconomic analysis: In-depth examination of individual markets, firm behavior, and consumer choices using quantitative models to assess efficiency and outcomes.
- Industry and commodity modeling: Development of specialized economic models to forecast trends, evaluate performance, and inform strategy within specific sectors such as agriculture, energy, or manufacturing.
- Resource allocation decisions: Evaluation of how limited inputs are distributed across competing uses, with focus on cost-benefit trade-offs and long-term sustainability.
- Regulatory and consumer dynamics: Study of how government policies, legal frameworks, and consumer preferences shape market structures and economic outcomes.
- Technical integration: Application of discipline-specific knowledge—such as engineering, environmental science, or logistics—to enhance the precision and relevance of economic assessments.
Applied Economics Graduate Trends (2010-2024)
Applied Economics Career Pathways & Salary Outlook
The following table presents salary data for occupations typically aligned with Applied Economics degrees, including Managers, All Other, Economics Teachers, Postsecondary and Economists. These career paths represent common employment outcomes but are not guaranteed for all graduates. Salary ranges vary by location, employer, experience level, and specific role requirements. Nationally, these occupations employ approximately 1,561,080 professionals.
National Average Salaries
| Occupation | Median Salary | Salary Range | Total Employment | Hourly Rate |
|---|---|---|---|---|
| Managers, All Other 11-9199 | $136,550 | $68,860 - $227,590 | 630,980 | $65.65 |
| Economics Teachers, Postsecondary 25-1063 | $119,980 | $57,550 - $217,160 | 12,420 | N/A |
| Economists 19-3011 | $115,440 | $62,340 - $212,710 | 15,880 | $55.50 |
| Market Research Analysts and Marketing Specialists 13-1161 | $76,950 | $42,070 - $144,610 | 861,140 | $37.00 |
| Survey Researchers 19-3022 | $63,380 | $36,950 - $118,730 | 7,720 | $30.47 |
| Social Science Research Assistants 19-4061 | $58,040 | $36,410 - $100,620 | 32,940 | $27.90 |
Applied Economics Salary Map by State
Geographic location significantly impacts earning potential for these careers. Average salaries range from $70,038 in Nebraska to $123,543 in Delaware—a 76% difference. The highest-paying states include Delaware, District of Columbia, and Massachusetts. Nationwide, these occupations employ over 1,561,080 professionals across all states. Explore the interactive map below to compare regional compensation and identify optimal markets for your career goals.
Average Salary Range:
Top Universities for Applied Economics by Graduate Enrollment
Below are the top 31 institutions offering Applied Economics programs for the 2023-2024 academic year (the most recent data reported as of 2025), ranked by the number of graduates. The highest graduate enrollment in Applied Economics is found at Binghamton University (97 graduates), University of Michigan (U‑M), Ann Arbor (64 graduates), Ursinus College (Ursinus) (32 graduates), University of Minnesota (UMN), Twin Cities (22 graduates), and Virginia Polytechnic Institute and State University (Virginia Tech) (19 graduates). Combined, these colleges produced 368 graduates across all degree levels. Program availability varies by award level, including Associate, Bachelor's, Master's, and Doctoral degrees at participating universities and schools.
| College Name | Award Levels | Graduates | Location | Control | Website |
|---|---|---|---|---|---|
| Binghamton University |
Bachelor's
|
97 | Vestal, New York | Public | binghamton.edu |
| University of Michigan (U‑M) |
Master's
|
64 | Ann Arbor, Michigan | Public | umich.edu |
| Ursinus College (Ursinus) |
Bachelor's
|
32 | Collegeville, Pennsylvania | Private | ursinus.edu |
| University of Minnesota (UMN) |
Bachelor's
|
22 | Minneapolis, Minnesota | Public | twin-cities.umn.edu |
| Virginia Polytechnic Institute and State University (Virginia Tech) |
Bachelor's
Postbac Cert.
|
19 | Blacksburg, Virginia | Public | vt.edu |
| Florida State University (FSU) |
Master's
|
17 | Tallahassee, Florida | Public | fsu.edu |
| University of Houston (UH) |
Master's
|
17 | Houston, Texas | Public | uh.edu |
| Farmingdale State College |
Bachelor's
|
12 | Farmingdale, New York | Public | farmingdale.edu |
| Georgetown University (GU) |
Master's
|
11 | Washington, District of Columbia | Private | georgetown.edu |
| University of Northern Iowa (UNI) |
Bachelor's
|
11 | Cedar Falls, Iowa | Public | uni.edu |
| Oregon State University (OSU) |
Master's
Doctorate (Research)
|
8 | Corvallis, Oregon | Public | oregonstate.edu |
| University of Rhode Island (URI) |
Master's
Doctorate (Research)
|
7 | Kingston, Rhode Island | Public | web.uri.edu |
| University of Arizona |
Bachelor's
|
6 | Tucson, Arizona | Public | arizona.edu |
| Georgia Southern University |
Postbac Cert.
Master's
|
5 | Statesboro, Georgia | Public | georgiasouthern.edu |
| Utah State University (USU) |
Bachelor's
Master's
|
5 | Logan, Utah | Public | usu.edu |
| Colorado School of Mines |
Postbac Cert.
|
4 | Golden, Colorado | Public | mines.edu |
| Western Carolina University (WCU) |
Bachelor's
|
4 | Cullowhee, North Carolina | Public | wcu.edu |
| Bowling Green State University (BGSU) |
Bachelor's
|
4 | Bowling Green, Ohio | Public | bgsu.edu |
| University of Connecticut (UConn) |
Bachelor's
|
3 | Storrs, Connecticut | Public | uconn.edu |
| New Mexico State University (NMSU) |
Postbac Cert.
|
3 | Las Cruces, New Mexico | Public | nmsu.edu |
| University of Washington (UW Tacoma) |
Bachelor's
|
3 | Tacoma, Washington | Public | tacoma.uw.edu |
| University of Massachusetts |
Other Award
|
2 | Amherst, Massachusetts | Public | umass.edu |
| University of Central Oklahoma (UCO) |
Bachelor's
|
2 | Edmond, Oklahoma | Public | uco.edu |
| Carnegie Mellon University (CMU) |
Bachelor's
|
2 | Pittsburgh, Pennsylvania | Private | cmu.edu |
| Vanderbilt University (VU) |
Doctorate (Research)
|
2 | Nashville, Tennessee | Private | vanderbilt.edu |
| Ball State University (BSU) |
Postbac Cert.
|
1 | Muncie, Indiana | Public | bsu.edu |
| Valparaiso University (Valpo) |
Postbac Cert.
|
1 | Valparaiso, Indiana | Private | valpo.edu |
| St Catherine University (St. Kate’s) |
Bachelor's
|
1 | Saint Paul, Minnesota | Private | stkate.edu |
| SUNY Buffalo State University |
Master's
|
1 | Buffalo, New York | Public | suny.buffalostate.edu |
| University of North Dakota (UND) |
Postbac Cert.
|
1 | Grand Forks, North Dakota | Public | und.edu |
| Linfield University |
Bachelor's
|
1 | McMinnville, Oregon | Private | linfield.edu |
Frequently Asked Questions
Find answers to the most common questions about Applied Economics programs
How much can I earn with a Applied Economics degree?
Salaries for Applied Economics graduates vary by role and location. Managers, All Other earn a median of $136,550 annually, while Economics Teachers, Postsecondary earn around $119,980. Geographic location significantly impacts earnings—professionals in Delaware average $123,543 compared to $70,038 in Nebraska. Approximately 1,561,080 professionals work in related occupations nationwide.
Salary data from U.S. Bureau of Labor Statistics OEWS program, May 2024. Earnings vary by experience, employer, and market conditions.
Which universities have the largest Applied Economics programs?
Currently 31 accredited institutions offer Applied Economics degrees across the U.S. Programs with the highest enrollment include Binghamton University (97 graduates), University of Michigan (U‑M), Ann Arbor (64 graduates), and Ursinus College (Ursinus) (32 graduates).
Program size doesn't necessarily indicate quality—consider factors like faculty expertise, production opportunities, location, and available degree levels when choosing a school.
Data based on IPEDS program completions for 2023-2024 academic year. Numbers reflect programs where students graduated.
Is enrollment in Applied Economics growing or declining?
Graduate numbers have decreased over the past decade, rising from 402 in 2010 to a peak of 651 in 2020, before declining slightly to 368 in 2023-24. This represents a 8% decrease overall from 2010.
The field remains specialized with consistent demand, though opportunities are most concentrated in major metropolitan areas with active arts scenes like New York, California, and Illinois.
Graduate enrollment data from IPEDS, 2010-2024 academic years. Trends reflect reported completions at participating institutions.
What career paths are available with a Applied Economics degree?
This degree prepares you for roles such as Managers, All Other, Economics Teachers, Postsecondary, and Economists. Related occupations employ approximately 1,561,080 professionals nationwide.
Skills in project management, creative leadership, and collaboration also transfer to event planning, arts administration, marketing, and corporate training roles. Many professionals work freelance or on a project basis across theatre, film, and live events.
Career pathways mapped using CIP-SOC crosswalk from the National Center for Education Statistics. Employment data from BLS OEWS May 2024.
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