Economics is considered an evergreen subject due to its high utility and huge demand in the job markets. Economics is a very important discipline both for career as well as job point of view. The significance of economics has greatly increased post reforms era. Job opportunities have increased manifolds post-liberalization, privatization, and globalization (LPG), and after the merging of the world economy. Well-trained economists are in huge demand not only in India but also across the world for a rapidly globalizing economic scenario. They are hired as economic analysts, researchers, and consultants.
Economic Courses and Eligibility
The teaching of economics started from the XI standard. To get admission in a good college, one has to secure good marks in economics at XI and XII exams. After passing a B.A. in economics, one may pursue an MA and Ph.D. in economics with some specialization.
Economics course syllabus includes the papers like mathematical economics, statistical economics, monetary economics, international economics, developmental economics, econometrics, public finance, and economic policymaking. The specialization in the field of economics increases its importance. The specialized areas are finance, agriculture, econometrics, rural development, health, business development, international economics, industrial law, and human resource.
At UG Level
- BA (Economics)
- BA(Hons) (Economics)
- B.Sc. (Economics)
- BSc. (Hons) (Economics)
- BA (Business Economics)
- BA (Developmental Economics)
At PG Level
- MA (Analytical & Applied Economics)
- MA (Applied Economics)
- MA (Business Economics)
- MA (Corporation and Applied Economics)
- MA (Econometrics)
- MA (Economics)
- MA (Indian Economics)
- MA (Quantitative Economics)
- MBA (Business Economics)
- M.Sc. (Applied Economics)
- M.Sc. (Mathematical Economics)
- MBE(Master of Business Economics)
At M.Phil. and Ph.D. Levels
- M.Phil. (Applied Economics)
- M.Phil. (Economics)
- M.Phil.(Applied Econometrics)
- Ph.D. (Business Economics)
Diploma Courses in Economics
- Post Graduate Diploma (Applied Economics)
- Post Graduate Diploma (Econometrics)
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 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. The 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 a 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 in 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 that have economics in its BA, MA, and Ph.D. level courses. Here are the lists of institutions that are offering economics. You can easily see other information related to the respective universities/colleges/institutes with their given website.
- Delhi School of Economics-www.econdse.org
- Jawaharlal Nehru University-www.jnu.ac.in
- Presidency College Kolkata-www.presiuniv.ac.in
- University of Delhi, South Campus-www.south.du.ac.in
- St. Stephen College, Delhi University-www.ststephens.edu
- University of Bombay-www.mu.ac.in
- Indian Statistical Institute Kolkata-www. isical.ac.in
- Sri Ram College of Commerce-www.srcc.edu
- University of Agriculture Science-www.uasbangalore.edu.in
- Ravenshaw University, Cuttack-www. ravenshawuniversity.ac.in
- Gokhale Institute of Economics & Politic-www.gipe.ac.in
- Symbiosis School of Economics-www.sse.ac.in
- Madras School of Economics-www.mse.ac.in
- IIT kanpur-www.iitk.ac.in
- Banaras Hindu University-www.bhu.ac.in
For world recognized institution in the field of economics, everybody wishes to join the London School of Economics
Jobs in Economics Fields
An array of employment opportunities is available in the 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 their various positions. One can consume in these organizations 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 opens a plethora of options, and remuneration is also beyond expectation. The filed like accountancy, actuarial, banking; insurance is also open many job opportunities.
Economics Employment Opportunities
The various fields are offering better job opportunities after passing a BA or MA in economics. Some of the high demand sectors are given below where job prospects are huge.
- Banking and Finance
- Insurance Investment
- Stock Broker
- Media Analyst
- Education and Research
- System Analysis
Different Fields of Economics
There are various fields of economics. Some of the important disciplines are given here.
- Agricultural Economics
- Financial Economics
- Labour Economics
- Industrial Economics
- International Economics
- Business Economics
- Banking Economics
- Environmental Economics
- Developmental Economics
- Rural Economics and Rural Development