Career In Economics

Career In Economics

Economic Courses

At UG Level

  1. BA (Economics)
  2. BA(Hons) (Economics)
  3. B.Sc. (Economics)
  4. BSc. (Hons) (Economics)
  5. BA (Business Economics)
  6. BA (Developmental Economics)

At PG Level

  1. MA (Analytical & Applied Economics)
  2. MA (Applied Economics)
  3. MA (Business Economics)
  4. MA (Corporation and Applied Economics)
  5. MA (Econometrics)
  6. MA (Economics)
  7. MA (Indian Economics)
  8. MA (Quantitative Economics)
  9. MBA (Business Economics)
  10. M.Sc. (Applied Economics)
  11. M.Sc. (Mathematical Economics)
  12. MBE(Master of Business Economics)

At M.Phil. and Ph.D Levels

  1. M.Phil. (Applied Economics)
  2. M.Phil. (Economics)
  3. M.Phil.(Applied Econometrics)
  4. Ph.D. (Business Economics)
  5. Ph.D.(Economics)

Diploma Courses in Economics

  1. Post Graduate Diploma (Applied Economics)
  2. Post Graduate Diploma (Econometrics)

 

 

Another option is to do Master of Business Economics (MBE). Delhi University is the most reputed one in this subject. Business economics deals with the analysis of the behaviour of firms in markets and industries, and with determination of costs and prices. Courses are at present offered by about 13 universities in India leading to Master of Business Economics or MA in Business Economics.

 

 

What are the Career Prospects in Economics?

The career prospects for economics graduates are many. Numerous fields are waiting for economic graduates both in the public as well as the private sectors. In the government sector, one may try for Indian Economic Services, jobs in Reserve Bank of India, PSUs and other public sector banks. All these jobs have wonderful career options. These jobs give you social prestige along with financial stability. Private sector also offers jobs for economic graduates in the fields like private banks, MNCs, BPOs, KPOs, Business journals, and newspapers. A good opportunity is also waiting for economic students in higher education. One can pursue Ph.D. in economics to enter into the field of teaching in colleges and universities.

One makes a successful career as a Corporate Lawyer after BA in economics followed by LLB.  BA in economics and MBA placed one at a better position in the private sector.  Economic Journalism is another shining area for job perspective.

Universities and Colleges Offering Economics

There are many institutes, colleges and universities who have economics in its BA, MA and Ph.D. level courses. Here are the lists of institutions who are offering economics. You can easily see other information related with the respective universities/colleges/institutes with their given website.

  1. Delhi School of Economics-www.econdse.org
  2. Jawaharlal Nehru University-www.jnu.ac.in
  3. Presidency College Kolkata-www.presiuniv.ac.in
  4. University of Delhi, South Campus-www.south.du.ac.in
  5. St. Stephen College, Delhi University-www.ststephens.edu
  6. University of Bombay-www.mu.ac.in
  7. Indian Statistical Institute Kolkata-www. isical.ac.in
  8. Sri Ram College of Commerce-www.srcc.edu
  9. University of Agriculture Science-www.uasbangalore.edu.in
  10. Ravenshaw University, Cuttack-www. ravenshawuniversity.ac.in
  11. Gokhale Institute of Economics & Politic-www.gipe.ac.in
  12. Symbiosis School of Economics-www.sse.ac.in
  13. Madras School of Economics-www.mse.ac.in
  14. IIT kanpur-www.iitk.ac.in
  15. Banaras Hindu University-www.bhu.ac.in

For world recognised institution in the field of economics, everybody wish to join London School of Economics

Jobs in Economics Fields

An array of employment opportunities is available in economics field. Meritorious candidates can get excellent job opportunities after successfully completing their BA or MA in economics. Economics graduates can get prestigious jobs in the government sectors like Indian Economic Services, Indian Civil Services, Reserve Bank of India, National Sample Survey, Ministry of Economic Affairs, Planning Board, Planning Commission, National Council for Applied Economic Research and National Institute of Public Finance and Policy.

Job opportunities are also waiting in the private sectors, NGOs and International Aid Agencies. The firms like World Bank, Asian Development Bank, IMF, and other Development Banks, Aid agencies, Financial Consultancy firms are hiring the economic graduates for its various positions. One can consume in these organisations as economist, economic advisor, executive, analyst, consultant, researcher, financial analyst, business analyst, economic research analyst and stock market analyst. As far as salary is concerned, lots of candidates are hired through campus placement. The average salary is Rs 4 to 8 lakh per annum. But for the deserving candidates, the field open plethora of options and remuneration is also beyond expectation.  The filed like accountancy, actuarial, banking; insurance are also open many jobs opportunities.

Economics Employment Opportunities

The various fields are offering better job opportunity after passing BA or MA in economics. Some of the high demand sectors are given below where job prospects are huge.

  1. Accounting
  2. Auditor
  3. Banking and Finance
  4. Insurance Investment
  5. Marketing
  6. Stock Broker
  7. Media Analyst
  8. Management
  9. Manufacturing
  10. Advertising
  11. Communication
  12. Actuarial
  13. Education and Research
  14. Retailing
  15. System Analysis

Different Fields of Economics

There are various fields of economics. Some of the important disciplines are given here.

  1. Agricultural Economics
  2. Financial Economics
  3. Labour Economics
  4. Industrial Economics
  5. International Economics
  6. Business Economics
  7. Banking Economics
  8. Environmental Economics
  9. Developmental Economics
  10. Rural Economics and Rural Development
  11. Econometrics

If you are interested you can go for Econometrics which is another specialisation in this field. Econometrics combines economic theory expressed in mathematical form with statistical methods. At present the subject is available only in University of Madras; Rani Durgavati Vishwavidyalaya, Jabalpur; Sri Venkateshwara University, Tirupati and the Indian Statistical Institutes.

 

 

 

Most of the colleges and Universities in India offer Bachelor and Master's degree course in Economics. Universities offer honours courses leading to the award of B.A (Hons) or B.Sc (Hons). It is only in three Universities, viz., Anna University, Birla Institute of Technology and Science and Chhatrapati Sahu Ji Maharaj University that the nomenclature of the award is M.Sc (Economics). Doctoral courses like M.Phil and Ph.D. courses are also offered by many Universities and specific Economics school within the country. Prominent among them are Delhi School of Economics, Jawaharlal Nehru University, Banaras Hindu University etc. There are two deemed Universities in Economics, viz., Gokhale Institute of Politics and Economics, Pune. It offers only M.A and Ph.D courses and Indira Gandhi Institute of Development Research, Mumbai (IGIDR offers M.Phil (2 Years) and Ph.D (4 Years) Programs in Development Studies. Postgraduate diploma courses are available in Annamalai University; Gujarat University, Ahmedabad, Guru Nanak Dev University, Amritsar.

Personal attributes:

Economists must have

  • A logical and analytical bent of mind
  • Numerical ability
  • An interest in current social and political activities
  • Sincerity, commitment and devotion
  • An interest in problem solving
  • A high level of patience, with a positive and optimistic attitude
  • Knowledge of overseas economic ideas and trends
  • Knowledge of maths, including statistics
  • Decision-making ability
  • Good oral and written communication skills
  • Good time and project management skills

Economic consulting is another option available for students from economics background. However, the foremost growth potential for economists lies in the private sector and most notably in scientific research and consulting firms. Research institutes like National Council of Applied Economic Research, New Delhi; Indian Council of Social Science Research; Institute of Economic Growth, New Delhi etc. offer ample job opportunities to economists.

Source:- Various books & Internet

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