Most master's degree programs, including development economics, require that the applicant complete a four-year undergraduate program and score sufficiently well on the Graduate Record Examination (GRE). The degree program typically consists of courses in microeconomics and macroeconomics, as well as courses related specifically to development economics. Most terminal master's degrees in development economics require the student to complete a master's thesis on a subject in development economics.
A degree in development economics can lead to a Ph.D. A master's in development economics can also lead to career track positions in teaching economics, law, consultancies and government. As of 2008, the median earnings for those working in the field of market analysis with a master's in development economics was $61,070 while the median salary in the field of financial analysis was $73,150 according to the U.S. Bureau of Labor Statistics.
Many degree-granting institutions accept graduate students in development economics, with the highest-ranked schools primarily located on the East Coast. In 2009, the top 10 ranked schools according to "U.S. News & World Report" included in order: Harvard, Massachusetts Institute of Technology, Yale University, University of California Berkley, Princeton University, University of Chicago, Columbia University, Brown University, Cornell University and New York University.
Development economics and those who study it will focus primarily on the management of areas from the city level, to the developing or developed nation. The goal of development economists is to manage an area's resources and assets so as to best improve the quality of life and the standard of living for the local population in a sustainable way. Development economics master's degrees seek to provide students with theoretical knowledge and practical tools to work towards this goal.