10 Best Online Courses for Economics

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Some people think economics is just supply and demand. But there is much more to it.

Studying economics can teach you how to analyze your spending. You can also learn how to start a business. Economics courses can even be used to develop broad skills. For example, you can learn how to become a better decision maker.

Learning about economics doesn’t mean you have to take a college course. In fact, you can learn economics on your own in your spare time. That’s because learning economics online is a great way to acquire new knowledge and do so on a budget.

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Disclaimer: Some courses may include an affiliate link. Courses were chosen first based on the methodology with affiliate links only added after the ranking was complete.

There are many online economics courses you can take. The hard part is deciding which ones are worth your time.

To help you identify the best economics classes to take, we’ve created this list of the best online economics courses.

This isn’t just a random list of online economics courses. Instead, we used a specific methodology for coming up with our rankings that relies on three factors:

Affordability
Learning level
Flexibility

By looking at these factors, we can build a ranking of the best online economics courses that relies on data rather than opinion.

Below is a detailed explanation of our methodology for best online economics course.

Methodology to Determine the Best Online Courses for Economics

When looking for macroeconomics courses online or microeconomic courses, it’s easy to focus on the cost.

Affordability is critical. But it isn’t the only factor that should drive your decisions.

The learning level of the course is also important. A class might be very affordable, but if it’s at the wrong skill level, it is simply not a fit for your needs.

Of course, you need courses that fit with your schedule too.

For example, let’s say you work a traditional 8-5 job. If an online economics course requires you to do a video call each afternoon, this presents a problem.

So, it’s not just how much a class costs, but also the learning opportunities they provide and the flexibility they offer. If you balance these three factors when looking for the best economics class to take, you can make a much more informed decision.

Let’s explore each of these three factors in more detail.

Affordability

No one wants to pay more than they should for something. That goes for products, services, and education.

In fact, the affordability of a class is usually the number one criteria people consider when deciding what online courses to take.

There are many excellent free economics courses online. There are just as many that are available for a small fee. Still others can cost thousands of dollars in tuition and fees.

The important thing is to examine affordability in the context of the other two factors in our methodology.

For example, while a free class might seem like the best option, a similar class with a small fee might offer you more flexibility. It might also give you a higher degree of learning.

Nevertheless, price is the top factor for most people that want to find out how to learn economics on your own. This being the case, we rank each of the courses on this list as follows:

Free: 6 points
Under $10: 5 points
$11-20: 4 points
$21-30: 3 points
$31-40: 2 points
$41 and above: 1 point

The price of a course is worth more points than the other two criteria combined. This reflects just how important affordability is to so many online learners.

Learning Level

The second factor we use in our rankings is learning level.

There are a couple of important issues here. First, the higher the learning level, the more points we assign it. This isn’t to say that beginner courses aren’t valuable. It’s just that advanced courses have a greater depth of learning because of their more focused topics.

So, in an introductory course, you might learn a lot, but you don’t dive deep into any single topic. There’s a lot of breadth, but little depth. But an advanced course is the opposite – you study fewer topics, but do so more in depth.

Second, more advanced courses get more points because the better the skills you have, the more beneficial it can be for finding employment or getting a raise.

Again, this isn’t to say that you can’t gain valuable skills in beginner courses. But in advanced courses, you can focus on an area of interest or expertise and become a specialist in one area of economics.

Here’s how this criterion is scored:

Advanced: 3 points
Intermediate: 2 points
Beginner: 1 point

Flexibility

If you wonder “How to learn economics on your own,” it has a lot to do with being able to learn when you can.

Everyone has a lot of responsibilities in their lives. Sometimes you have to work late. Other times you have to work early. Kids get sick. Pandemics happen. Your online learning needs to be flexible to allow you to take care of these and other responsibilities.

For this reason, we include flexibility rankings in our scoring system. The more flexible a class, the more points it is awarded.

Courses that offer flexible deadlines, downloadable resources, or lifetime access get more points.

By contrast, courses that have strict deadlines, lots of assignments, or time restrictions are scored as being less flexible, like so:

Highly flexible: 2 points
Moderate flexibility: 1 point
Low flexibility: 0 points

So, courses that are affordable, offer advanced learning, and are highly flexible are at the top of our list.

Just remember that the best economics classes to take might not be the most affordable ones. They might not be the most flexible ones either. Instead, it might be that the best online economics courses for you are a blend of the three factors described above.

The following are the ten best online courses for economics based on our methodology.

Ranking the Best Online Courses for Economics

#10: Economics and Society

This course is from MasterClass. It’s taught by Paul Krugman. He won a Nobel Prize for economics.

The class has 22 video lessons. You will examine how economics and society influence one another. You get to explore major theories of economic thought too.

#9: Econ 101: The Complete Intro to Economics For Beginners

Econ 101 is a beginner course offered by Udemy. It is a complete guide to economics for people with no experience in economics.

Most of the class units are on the basic concepts of economics. This includes:

Production levels
Supply and demand
The free market model

There is also a unit about monopolies. You’ll learn how monopolies change the makeup of economic models. You get a chance to explore the difference between microeconomics and macroeconomics as well.

There is practical information too. This includes learning about interest rates and recessions. You’ll also learn how to apply economic theories to real-world situations.

Visit the course website.

Points: 7

Affordability: $18.99 (at the time of writing)

Learning Level: Beginner

Flexibility: Highly flexible. Learn as quickly or as slowly as you wish. You can learn offline as well with several downloadable resources.

#8: Managerial Economics

This intermediate course from Udemy is designed for business managers. More advanced economics students can also benefit from the class.

The course focuses on effective decision making. You’ll explore questions like “How much should be produced?” “What should the product price be?” is another major question of study.

Other topics you’ll learn in this online economics course include:

How government legislation impacts your business
Consumer behavior
Market structure

There is also a unit of study on how to organize your business. How to structure your business is one of the most important decisions you can make.

This class has many resources including on-demand video. Once you finish the class, you get a certificate.

Visit the course website.

Points: 8

Affordability: $18.99 (at the time of writing)

Learning Level: Intermediate

Flexibility: Highly flexible. This is a self-paced course. You get lifetime access to course materials. You can also access the course on your TV or mobile device.

#7: Fundamentals of Macroeconomics

There are many macroeconomics courses online. One of the best is this course from edX.

In this class, you’ll study economic markets. You’ll learn about what makes markets strong. You’ll also learn why markets collapse.

Some of the major topics of study in this online economics course include:

How national economies measure up
Why economic crises occur
How unemployment impacts the overall market

Gross domestic product (GDP) is studied in this class. You’ll learn how to measure it and its importance. There is also a unit on financial systems.

There are no prerequisites. You need to have basic math skills though.

Visit the course website.

Points: 8

Affordability: Free

Learning Level: Beginner

Flexibility: Moderately flexible. This course has a timeline of six weeks. But, the course is relatively short and only requires a couple of hours of work each week.

#6: Behavioral Economics in Action

This beginner course is from edX. Content is provided by the University of Toronto. It is a six-week course. Upon completion, you can pay for a verified certificate.

Throughout this course, you’ll learn all about behavioral economics. This includes the philosophy on which behavioral economics is based.

You can expect to learn about topics that include:

Choice architecture
Experimental design
Nudging strategy

Likewise, you’ll have the chance to apply your learning to business. You will also explore economic policy.

Since this is a beginner course in economics, there are no prerequisites. You just need a desire to learn something new!

Visit the course website.

Points: 8

Affordability: Free. You can add a verified certificate for $139.

Learning Level: Beginner

Flexibility: Moderately flexible. This is a six-week course. However, it requires just 4-5 hours of work per week. This allows you to complete your studies when it’s easy for you.

#5: Financial Theory

This is a free class from Yale University. It is a complete undergraduate course. It was originally taught at Yale in the fall of 2009.

Financial theory looks at the financial system. Specifically, its importance in the global economy. The first part of the course covers financial equilibrium.

#4: Microeconomics Principles

This beginner economics course is provided by the University of Illinois and Coursera. The main area of study is microeconomics. You’ll examine how economics influences various systems.

Many people think that economics is the study of money. It’s much broader than that. For example, you’ll learn about the relationship between economics and:

Crime
Labor markets
Politics
Education

You’ll also study the connection between economics and the environment. In other words, you will gain an understanding of how most everything is related to economics.

This top online economics course is broken into eight units. Each unit usually takes a week to complete. However, you can adjust deadlines to fit your schedule.

Visit the course website.

Points: 9

Affordability: Free to enroll. A fee (usually around $50) might be required. Other costs may be involved if you participate in a specialization. Learn more about Coursera pricing. This course is scored as a free course.

Learning Level: Beginner

Flexibility: Highly flexible. You can learn at your own pace. Once you enroll, you get instant online access to the course. With flexible deadlines, you can finish the coursework as quickly or as slowly as you need.

#3: The Power of Macroeconomics: Economic Principles in the Real World

This is an online economics course from Coursera. The materials were created by faculty at the University of California Irvine. It takes a broad view of macroeconomics. Your learning is focused on major economic principles. You’ll explore a typical curriculum seen in undergraduate or graduate economics classes.

In this class, you’ll apply your learning to real-world situations. In this context, you’ll examine topics like:

Inflation
Budget Deficits
Public Debt

By studying these and other economics principles, you’ll better understand why economic decisions are made.

This is a lengthy online economics course. It is 13 weeks long. There is a lot of work involved. However, you can learn at your own pace to accommodate your schedule.

Visit the course website.

Points: 9

Learning Level: Intermediate

Flexibility: Highly flexible. You can learn at your own pace. Course materials are available for download. You can also work on the course using virtually any device.

#2: Social and Economic Networks: Models and Analysis

Stanford University and Coursera offer this advanced course. The goal of this class is to teach you how to model social and economic networks.

You’ll learn how social and economic networks impact human behavior. For example, you’ll explore questions related to:

How networks form
Why networks display certain patterns
How networks influence diffusion and learning

This top economics online course seeks to bring multiple subjects together to explore the topics listed above. This includes math, statistics, sociology, and computer science.

This is an eight-week course. There are about 25 hours of work to complete.

Visit the course website.

Points: 11

Learning Level: Advanced

Flexibility: Highly flexible. This is a self-paced course. Coursera allows you to adjust deadlines as needed. You also get immediate access to course materials.

#1: Government Economic Policy

This free course is by Alison. It is a certification course. A certification could be valuable if you want to advance your career.

This best online class for economics is all about government policy. Specifically, you will learn how decisions made by governments shape economic outcomes.

Over the course of three units, you’ll learn about:

Budgetary policy
Microeconomics
Reasons for government intervention

This course should take about 2-3 hours to finish. It is one of the shortest courses on this list. But it is packed full of information.

This is a college-level course. There are no prerequisites. However, understanding some basic economic principles is helpful.

Visit the course website.

Points: 11

Affordability: Free

Learning Level: Advanced

Flexibility: Highly flexible. This course is designed to be completed at your own pace. You can immediately access the class upon enrollment.

Frequently Asked Questions

Can I learn economics on my own?

Economics can be a tough subject to study. This is especially true of advanced topics. But if you approach your studies in the right way, you can learn economics on your own.

Looking at our rankings above, you see the variety of economics topics you can study. Whether you’re a beginner, intermediate, or advanced learner, there is a course for you!

If you’re a beginner, a good place to start is Microeconomics Principles from the University of Illinois. This is the highest-ranked beginner course on our list. It serves as a great introduction to this subject.

Intermediate learners might want to explore The Power of Macroeconomics: Economic Principles in the Real World. This course is ranked number three on our list. This course is easy to understand and provides valuable learning experiences as well.

Our top-ranked course, Government Economic Policy, is a specialized course that’s ideal for people that want to focus their learning on a very particular topic. In this case, the knowledge you gain about government economic policy could help you be more qualified for jobs in the public sector.

So, here’s how to learn economics on your own: First, look for courses you can afford. Then look for courses that are appropriate for your level of learning. Lastly, be sure the course offers you the flexible learning you need for your schedule. If you find courses that meet those criteria, you will make learning economics on your own a much easier task.

Is economics a worthwhile degree?

Economics is a great degree. This is true if you get an undergraduate degree. A master’s degree or a doctorate is worthwhile as well. That’s because virtually everything is related to economics. This makes economics a critical topic to understand. With advanced knowledge and skills in economics, you can get into a good career.

For example, if you take economics courses online, you can learn new skills that could help you get a job promotion. As another example, the skills you learn by studying economics can have a big impact on your daily life.

Consider this – economics helps build analytical and problem-solving skills. Developing these skills can help you see multiple sides to any issue. This helps you make more informed decisions.

Economics also offers a huge variety of topics to study. You can learn about corporate finance and stock trading. You can explore political science and financial markets. The opportunities for learning are endless.

Likewise, a degree in economics could lead to many different kinds of jobs.

For example, a degree in economics can lead to careers in finance or law enforcement. You might become a teacher or a banker. You could even become an accountant. These are just a few examples. There are many other jobs you can get with a degree in economics.

With so many things to learn and so many job opportunities available, it’s safe to say that majoring in economics is a good idea!

How long does it take to get an economics degree?

If you get a bachelor’s degree in economics, a four-year timeline is most common. There are usually around 120 semester credits in a bachelor’s degree. This requires that you take 15 credit hours each semester.

However, if you take extra courses, attend summer school, and so forth, you could finish a bachelor’s degree in three years or less. At the same time, if you only attend school part-time, you might need an extra semester or two (or longer) to finish your degree.

If you pursue a higher degree, like a master’s, you’ll need additional time.

Master’s degree programs in economics vary in credit requirements. Some might have 30 or so credits. Others might have double that. Most commonly, master’s degrees are in the 30-36 credit range. If you attend school full-time (9 credits per semester), you’d finish the degree in 1 ½ to two years. Again, the timeframe could be extended if you attend school part-time instead of full-time.

There are different specializations at the master’s level that could influence the timeline as well. For example, a master of arts degree in economics might require just 30 credits. But a specialization in applied macroeconomics might require 39 credits.

The highest degree you can get in economics is a Ph.D. This degree commonly requires another three to five years of study after the master’s degree is completed. Usually, Ph.D. programs are structured as follows:

Year one – core coursework
Year two – fieldwork
Year three – third-year seminar and field seminars
Year four – thesis

So, if you were to get a bachelor’s degree, a master’s degree, and a Ph.D. in economics, you could be looking at anywhere from eight to ten years or more of schooling.

What is the best online course for economics?

According to our rankings, the best economics class to take is Government Economic Policy.

This course from Alison ticks all the boxes of what to look for in an online economics course. This economics class is free, so it’s highly affordable for any learner. It also offers very flexible learning options. Not only is it a short course, but you can learn completely online at your own pace.

On top of all that, you can get a certification at the conclusion of the course. Though not all employers give much thought to certifications, many others do. Having the advanced knowledge that comes from this course and a certification to go with it could help you get a new job or promotion.

It’s important to note that one other course in our rankings had the same number of points as this class. Social and Economic Networks: Models and Analysis from Stanford University is another excellent option for advanced students.

This course is one of the best online courses in economics. It’s a much longer course than Government Economic Policy. It is also a little more focused on niche topics. It is free to enroll, which boosts its score. It also provides a high degree of flexibility.

The only reason we didn’t rank this economics course as the top course on our list is that fees might be associated with the course. Therefore, the tiebreaker goes to Government Economic Policy because it is a truly free course.

Which courses can I take in economics for college credit?

The classes in our rankings are good options for learning economics. However, they are not offered for college credit. Instead, there are many other courses that colleges will accept for credit.

Core courses are most likely to be accepted. These courses include, but are not limited to, the following:

Microeconomics – This class is the study of individual behavior in the economy. It looks at the decision-making regarding limited resources. For example, you would study how purchasing decisions by people impact supply and demand.

Macroeconomics – When you study macroeconomics, you study big economic principles. For example, you learn about unemployment. You also learn about inflation and price levels. In other words, it’s a study of the entire economy.

Financial accounting – This course is all about understanding financial statements. Typically, financial accounting classes also teach about investments. You can expect to touch on accounting, financial ethics, and more.

Business communications – Economics isn’t just the study of money. Being an economist means having really good communication skills. This course helps you improve those skills. For example, you get to practice public speaking. You also get to make presentations to audiences of different sizes.

Statistics – Studying economics means understanding numbers. Several statistics courses might be needed to graduate with an economics degree. Start with an introductory statistics course. In a class like this, you learn about probability theory. You will also learn about estimations and hypothesis testing.

Calculus – Economics students must also have a good understanding of advanced math concepts. Calculus is a part of math that explores how values are related by function. For example, using calculus, you could see how the amount of money you earn this month relates to how much you earned one year ago.

Health economics – This branch of economics explores how microeconomic theory can be applied to health care. For example, you might learn to consider how government regulation influences the end-user cost of healthcare.

What economics courses can I take in high school?

High school students can take several economics courses. For example, the College Board has two AP Economics courses. These are Macroeconomics and Microeconomics. These classes are usually taken at school. There might be online delivery options too.

Math skills are a must for economics. High school students can take various AP math classes, including Statistics and Calculus.

If your school has an International Baccalaureate program, Economics should be your first class of choice. Related courses like Business Management, Mathematics, and Further Mathematics are good choices as well.

But if you search for “economics online course high school,” you can find many other options for studying economics. For example, many of the courses in our ranking can be taken by high school students.

What certifications can I get in economics?

Having a certification is a really good idea.

First, it shows how much knowledge you have in economics. By getting certification after your degree, you can expand on what you already know and acquire new skills.

Second, getting certified shows that you are committed to learning more. In many cases, having a certification is not necessary. But it shows that you have a go-getter attitude.

Lastly, certifications can help you get employment. For example, if you apply for a job, being certified could help your application stand out among the rest. Or, if you’re already employed, a certification could lead to a promotion or a higher salary.

There are lots of certifications you can get in economics. This includes, but is not limited to:

Certified Economic Developer – This certification is from the International Economic Development Council (IEDC). The focus is on developing skills needed to address new challenges in economics. The Certified Economic Developer certification represents a high level of knowledge in economics. It is usually something economists with a long history of work experience pursue.

Certified Business Economist – Someone with this certification must show understanding of a wide range of topics. This includes, but is not limited to:

Macroeconomics and microeconomics
Statistics and data analysis
Economic measurement
Communication and presentation skills.

The certification was developed by the National Association of Business Economics. It is designed to help identify economists who have the training and competency to be of high value to potential employers.

Economic Development Finance Professional – This certification focuses on skills related to economic development. The certification identifies people with unique abilities to make business deals a reality. The skills gained in this program can be used in a lot of settings. This includes real estate, finance, and loan services.

How much do economists make?

According to a 2020 report by the Bureau of Labor Statistics (BLS), economists make a median annual salary of $105,020. The top ten percent of earners make over $185,000 per year. The lowest ten percent of earners can expect to make a salary closer to $59,450 per year.

How much an economist makes depends on a wide range of factors.

First, the level of education influences pay. For example, a college graduate with a bachelor’s degree in economics can expect to earn less than a recent graduate with a master’s degree and the same level of experience. Not all jobs require a master’s degree or a doctorate. Usually more education means a higher paying job in economics, though.

Second, the amount of experience you have greatly impacts wages. So, an economist with a master’s degree and 15 years of work experience is likely to make much more than an economist with a master’s degree and two years of experience.

Third, the area in which you live can change how much money you earn. For example, an economist working in Washington, D.C. earns 26 percent more per year than average. By contrast, economists in Philadephia earn 19 percent less per year than average.

Lastly, the specific job title you hold will influence your salary. A senior financial advisor, for example, will make more money than an entry-level data analyst. The more job responsibilities the more money. The more senior position, the more money as well.

Other factors influence how much an economist makes, but these four factors are among the most important.

OCR Staff

April 2020

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