A Master of Economics degree will allow you to successfully apply to a range of jobs that used to be out of reach for you. Those include prestigious jobs at research institutions such as the International Monetary Fund, the World Bank or the Federal Reserve. You will also be able to work in the investment banking or management consulting industries.
Advanced degrees typically pay more than bachelor's degrees, as employers highly value the knowledge a person with an advanced degree possesses. Economics is a difficult subject, particularly if you learn it at a graduate level, and so it is natural that some institutions, for example investment banks, pay holders of Master's degrees in Economics as much as they pay MBAs, according to the website MBA Podcaster.
If you want to get a Doctorate in Economics, a master's degree in this discipline is a must for you. Ph.D.s have even brighter employment prospects than master's degree holders. In addition, Ph.D.s can teach economics at colleges and universities, a career many students of the dismal science envy.
If you consider applying for a Master's degree in Economics, you probably enjoy studying, which is an argument in itself to spend another one or two years of your life acquiring knowledge. The things you will learn will depend on your specialty and may include econometric models, financial economics, managerial economics or accounting.