“Broadening digital access is expected to be the most transformative trend” in the international job market through 2030, according to the World Economic Forum’s (WEF’s) 2025 Future of Jobs report, which names artificial intelligence (AI) and big data, networks and cybersecurity, and technological literacy the fastest-growing professional skills through the end of the decade. That report projects 110 percent growth in the worldwide job market for big data specialists over the same period.
What skills will thrive in the tech-driven economy? A recent International Labour Organization study suggests that as AI increasingly handles routine tasks, the job market will shift toward roles that require a mix of advanced technical expertise and human skills, such as critical thinking and emotional intelligence. This forecast suggests that the most competitive professionals in 2025 and beyond will likely be those who can bridge economic and policy insights, business strategy, and data analytics.
This article explores emerging careers at the intersection of data and economics and explains how Boston College’s Woods College of Advancing Studies (BC Woods) master’s programs in applied analytics and applied economics prepare students for success in these interdisciplinary roles.
As faculty member Arvind Sharma observes, “Our programs at Woods College help prepare students for the AI-driven world, not only by teaching them about AI, but also by making them work in AI and giving them substantial exposure through the classroom, through case competitions, posters, and our analytics symposium. They graduate ready on Day One to go into the business, understand the problem and start implementing AI solutions. We are a very hands-on program.”
Learn How to Turn Data Into Strategic Insights
Bridge Economics, Policy, and Analytics at BC
How Applied Economics and Analytics Work Together
Applied economics and applied analytics are distinct but complementary disciplines.
- Applied economics focuses on using economic theory, models, and empirical data required to analyze real-world issues and inform decision-making in areas such as policy, business strategy, and market behavior.
- Applied analytics emphasizes using data science, statistical methods, and computational tools to extract insights, identify patterns, and support data-driven decisions across diverse domains.
Applied economics and analytics are often used in conjunction to inform business strategy or policy decisions. For example, in a policy environment, applied economics and analytics may be used to determine whether or not to recommend an increase in the minimum wage. An economist might model the potential effects of raising the minimum wage on employment, using labor market theory and past case studies to predict outcomes. Meanwhile, an analyst would process large datasets from employment records, regional wage statistics, and economic indicators to validate or refine the model’s predictions.
Studying Applied Economics and Applied Analytics at BC Woods
BC Woods offers a Master of Science in Applied Economics (MSAE) and a Master of Science in Applied Analytics (MSAA). Here’s what you can expect to learn in each program:
- The MS in Applied Economics program offers a strong foundation in economic theory and quantitative analysis, enabling students to evaluate policies, forecast economic trends, and analyze market behaviors. The curriculum emphasizes practical application through courses in applied macroeconomic theory, data analysis using statistical software like Stata, and program evaluation. Additionally, students enhance their communication and leadership abilities, preparing them to convey complex economic insights to diverse audiences effectively. Sharma observes that the program “helps students prepare for their future careers by exposing them early on to opportunities in the field.”
- The MS in Applied Analytics program teaches a comprehensive skill set across three key areas: data, business, and soft skills. The curriculum emphasizes advanced analytical approaches, including machine learning and AI, to solve complex real-world problems. Through hands-on experiences (e.g., managing an analytics project from inception to completion), students develop technical proficiency alongside critical interpersonal skills like communication and storytelling, enabling them to convey actionable insights to non-technical stakeholders effectively. Faculty member Lawrence Fulton explains that “our students go through and actually apply the tools to real-world problems, which makes a big difference. That’s what makes this program unique.”
BC Woods students may also complete the MSAE and MSAA as a dual degree.
Top Jobs for Professionals in Data Analytics and Economics
Professionals with data analytics and economics expertise are in high demand across industries. Top job roles include:
Economic Policy Analyst
Economic policy analysts incorporate policy, finance, and data expertise in their work. They evaluate the economic impact of laws, regulations, and public programs using economic theory, statistical modeling, and policy analysis to guide decisions on taxation, labor, healthcare, and more. They often advise governments and think tanks.
Business Intelligence Analyst
Business intelligence (BI) analysts gather, analyze, and visualize internal and external data to support strategic decision-making. BI analysts work across retail, healthcare, finance, and tech industries, often sitting at the intersection of strategy and data.
Economist
Economists analyze economic trends and develop models to understand how resources are produced, distributed, and consumed. They may work in academia, government, finance, or global institutions like the IMF or World Bank. Applied economists often engage in policy, labor, and market research.
Financial Analyst
Financial analysts assess investment opportunities, track financial performance, and forecast outcomes to help businesses and investors make informed decisions. Many specialize in corporate finance, investment banking, or asset management. They work primarily in the finance sector.
Quantitative Analyst
Often called “quants,” these professionals develop mathematical models to inform financial and risk-related decisions, typically using programming, statistics, and advanced analytics. Quants often work at investment banks, hedge funds, and fintech firms.
Risk and Forecasting Analyst
Using statistical models and historical data, these analysts evaluate future uncertainties in areas like credit, market conditions, or operational risk. They work in finance, insurance, supply chain management, and government. Their role bridges strategy, data, and finance, especially when forecasting informs high-stakes decision-making.
Sector Trends and Hiring Demand in 2025
Employers across industries seek professionals who can combine economic insight with advanced analytical tools to help organizations solve real-world problems. Key sectors where data analytics and applied economics expertise are in high demand include:
- Finance: The finance sector is experiencing a talent shortage, particularly in roles requiring data analytics and financial analysis skills. Employers are prioritizing candidates who can leverage data to drive strategic decisions and maintain compliance in a rapidly evolving regulatory environment.
- Healthcare: The healthcare analytics market is projected to grow significantly (reaching $133.19 billion by 2029) as healthcare organizations seek to use data to improve patient outcomes and operational efficiency. This expansion has led to increased demand for professionals skilled in predictive modeling, AI integration, and data visualization. Strong communication and leadership skills are also in demand.
- Sustainability: Economic shifts and a growing focus on sustainability are redefining job roles. Organizations seek professionals who can analyze environmental data and develop strategies that align with sustainable practices.
- Technology: The technology industry is transforming, with increased emphasis on roles that require a blend of technical expertise and strategic thinking. Data analysts and scientists are at the forefront of this transformation, tasked with interpreting complex datasets to inform business decisions.
Is a Master’s Worth It?
Master’s degree programs require a significant investment of time and resources. In return, they can represent a wise investment. Job opportunities and income potential often improve with advanced degrees; according to the U.S. Bureau of Labor Statistics, master’s degree holders earn 19 percent more, on average, than their counterparts with bachelor’s degrees. The unemployment rate of master’s degree holders is also lower.
Earning an advanced degree in economics or analytics can enhance your resilience to job market shifts. According to business development consultant Marko Sever, “upskilling will be crucial” in the emerging job market “as businesses increasingly require professionals to adapt to leveraging these technologies.”
Why Choose Boston College for Applied Economics or Analytics
A distinctive blend of academic rigor and real-world relevance makes a BC master’s degree an excellent option for professionals interested in pursuing advanced study in applied economics or analytics. The BC Woods MSAE and MSAA programs are taught by faculty with deep research and industry experience. Courses emphasize real-world application, using case studies, data sets, and policy challenges to connect classroom learning to practical outcomes.
BC Woods students can choose to study full- or part-time online, on campus during the evening, or any combination of these options. They enjoy the flexibility to balance their studies with professional and personal commitments without sacrificing academic quality.
BC provides strong career support, including access to a robust alumni network, one-on-one coaching, and employer partnerships that help students translate their skills into meaningful roles across sectors. True to its Jesuit mission, the university emphasizes ethical leadership, interdisciplinary collaboration, and a commitment to using data and economics to positively impact society, values that resonate strongly in fields focused on shaping policy, driving innovation, and improving outcomes.
Master of Science in Applied Economics student Gina Accapinti praises the Jesuit approach: “The professors really care about you and your success. They meet you where you are, which is really important. Because BC is a Jesuit university, it focuses on ethics. It’s not just rote learning; we think about what is the right thing to do.”
Your Next Career Move Starts With Boston College
As industries grow increasingly data-driven, the demand for professionals who can blend economic understanding with analytical skills is rising. These interdisciplinary roles are gaining traction across sectors such as finance, healthcare, technology, and public policy, offering professionals who possess both economic and analytical expertise a distinct advantage in today’s competitive job market.
Ready to take the next step? Explore the BC MS in Applied Economics and MS in Applied Analytics programs and connect with an enrollment advisor to set up an application walkthrough. Or, apply now if you’re ready.