Economics is a social science devoted to the study of how people and societies get what they need and want. Or, in a more formal language, economics is the study of how societies divide and use their resources to produce goods and services and of how those goods and services are then distributed and consumed.
Resources are the basic ingredients that are needed to produce the goods and services that people buy. These ingredients can be physical things such as land and factory equipment, and they can be intangible things such as the intellectual and emotional capacities of people, whose work is necessary for the production of goods and services. Whether a society is rich or poor, large or small, resources are, from the viewpoint of economics, scarce. This means that almost everyone in every country would like more goods and services than can ever be produced. Given a limited supply of resources and an unlimited desire on the part of individual consumers and nations, choices must be made about what goods and services to produce, how to produce them, and for whom.
Colleges throughout the USA have embraced and adopted different learning formats, to be able to meet students’ varying needs and lifestyles. For advanced education, the most common options for graduate students are on-campus and online master’s degrees.
Many students wonder if an online master’s degree will hold the same weight, or have the same quality, as an on-campus college degree. The truth is that regardless of the format, all great master’s degree programs are held to a certain standard of academic excellence, in order to achieve high rankings and accreditation. Students are still presented with the same materials, are expected to complete all coursework by a set due date, and are held to the same academic standards. The difference really comes into play when considering how you prefer to learn and be taught.
The biggest difference between on-campus and online master’s degrees in Economics is the flexibility of the curriculum. By definition, on-campus degrees require students to be in-person for all classes during a scheduled time. Some courses meet once a week for multiple hours while others meet multiple times a week, for shorter periods of time. Regardless of the class frequency, students are required to be in person during those specific, allotted class periods. For some, this can be extremely beneficial to have a specific day and time set aside each week dedicated to focusing on the course.
Online master’s degrees, however, offer greater flexibility in regards to class schedules and the pace of completing assignments. Of course, that’s not to say that online course assignments do not have hard deadlines. Rather, online programs provide students with a window for completing a class lecture or assignment, allowing busy professionals the opportunity to complete coursework on their individual schedules and at their own pace, without having to set aside a predetermined time each week to show up for class.
Economics – Online Master’s vs On-campus program
Online Master’s program in Economics at John Hopkins University
Online Master’s program in Economics at John Hopkins University is purely 100%online program where it is part of business, part of social science, economics is an incredibly broad field with more career opportunities than most people first realize. Economists can work in state and federal government, in research and development, and in finance and insurance, and it’s a field in high demand. The U.S. Department of Labor expects demand to increase faster than the average occupation through 2028.
The Johns Hopkins MS in Applied Economics gives students the flexibility to design a degree plan that fits their professional goals and economic interests, such as:
- Environmental economics
- Financial economics
- Health economics
- International economics and development
- Spatial economics
- Public policy
Tuition cost at John Hopkins University for Online Masters for Economics
- The total number of courses offered by John Hopkins University for Online Masters in Economics is 10 courses.
- The total cost per course offered by John Hopkins University for Online Masters in Economics is $4,724.
- The overall cost offered by John Hopkins University for Online Masters in Economics is $47,240.
On-campus Master’s program in Economics at Purdue University
On-campus Master’s program in Economics at Purdue University is the Master of Science in Economics among the most versatile and lucrative graduate degrees. With expanding access to extensive datasets, both public and proprietary, there is increased value to individuals who have the tools to analyze and interpret economic data and the ability to apply those results to decision making in business and public policy environments. The program offers study tracks for students interested in data analytics, applied economics, or those interested in pursuing Ph.D. studies in economics, management, or political science at first-tier universities.
Purdue University in MS in Applied Economics gives you the flexibility to design a degree plan that fits your professional goals and economic interests, such as:
- Econometrics I
- Intermediate Economics I (Micro)
- Intermediate Economics II (Macro)
- Econometrics II
- Financial Econometrics
- Game Theory
- Financial Econometrics
Tuition cost at Purdue University for On-campus Masters for Economics
- The total credit hours required to complete the program is 30 credit hours.
- Cost per credit for Economics program:$967.50.
- The overall cost offered by Purdue University for Online Masters in Economics is $29,025.
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