Economics

Economics

Degrees offered: B.A., B.A.(Hons), B.B.A, B.Com, B.Com(Hons), B.Ed., B.Sc.

What is Economics

Economics refers to the practical and theoretical science of the manufacturing and distribution of wealth. It is based around the system of fabrication, buying and selling of products and services. Economics is applied to the physical world to review and analyse the activities and interaction between people, markets and governments. As it is a social science, it is primarily focussed on the behaviour and relationship of people and societies. The study in this field is very diversified. It is not just restricted to business, finance and government, but also to crime, education, family, health, law, politics, religion, social institutions, war and science, as well. 


Economics courses can be pursued by students at bachelors, postgraduate and doctoral level. Also there are diploma and certification courses offered in economics.  Mostly, students go for MBA/PGDM or MA in economics after finishing their Bachelors. In these programmes, students get to learn about economic theory and principles, mathematics, economic models and methods of analysis, and much more. Economic courses are best suited for people who have mathematical aptitude and strong critical and analytical thinking skills. Problem solving skills and communication skills is also an addition. Most of the economic courses at postgraduate level provide specializations in business economics, international economics, monetary economics, urban and economic affairs and quantitative economics. Students can also opt for distance courses in economics. 


A person dealing in the field of economics is known as an economist. They research and monitor demands and supply, exchange rates, business trends, taxation, employment rates, inflation and costs of materials to understand trends and develop predictions. Economists formulate and publish numerous economic indicators, like gross domestic product (GDP) and therefore the Consumer Price Index (CPI).

Although there are various subdivisions of economics, the two major aspects of study in this field are microeconomics and macroeconomics. Let us read about every aspect of an economics course in detail.


Course Highlights

Course Name

Economics

Duration

  • B.A. (Business Economics)- 3 years

  • B.Com. (Applied Economics)- 3 years

  • B.Com. (Business Economics)- 3 years

  • BBE- 3 years

  • M.A. (Economics)- 2 years

  • M.Com. (Applied Economics)- 2 years

  • M.Phil. (Business Finance & Economics)- 2 years

  • M.Sc. (Financial Economics and Administration)- 2 years

  • Ph.D. (Business Economics)- 2 years

Eligibility

Bachelor Courses- 10+2 or equivalent in related streams from recognized boards.

Master Courses- B.A/B.com/Bsc with minimum 50 per cent.

Ph.D- Post graduation in a related stream with minimum of 50 percent.

Course Level

Undergraduation/ Post graduation/ Doctorate

Course Type

Economics

Admission Process

10+2 marks/ Entrance exam( depending on the college)

Course Fees

INR 25,000- 3 lakhs

Entrance Examinations

Jobs after course

  • Financial Analyst

  • Business Analyst (Unspecified Type)

  • Data Analyst

  • Senior Financial Analyst

  • Research Analyst

  • Senior Business Analyst

  • Pricing Analyst

  • Management Consultant

  • Business Consultant

  • Staff Accountant, etc 


Expected salary

Rs 851,486 per annum.

Eligibility Criteria (UG & PG) of Economics

The eligibility criteria varies as per the choice of the course opted by the candidate. It depends whether the student is choosing a B.A/Bsc./B.com degree in Bachelors or M.A/Msc. degree in Masters. Those aspiring to get into the economics field must have analytical and communication skills, and must be detail oriented with good writing skills. Here we have described the eligibility criteria of different courses. These criteria should be followed by the students to get admission in these courses.

B.A. (Business Economics)

  • Aspiring candidates should have completed 10+2 or its equivalent exam in the arts stream.

  • The marks of admission into economics courses may vary from college to college.

  • In various colleges, entrance exams plus interviews along with the percentage of 12th class is considered for admission.


B.Com. (Applied Economics)

Aspiring students should have passed 12th with minimum 50 per cent (45 per cent for SC/ST) or equivalent CGPA.


B.Com. (Business Economics)

  • Aspiring candidates should have completed 10+2 or its equivalent exam with a subject like Account, etc. in Commerce stream.

  • The minimum marks required to get admission into B.Com business economics course may vary depending on the institute. In various colleges, the admission is granted through entrance exams plus interview in addition to the percentage of marks scored by the candidate in class 12th.


M.A. (Economics)

  • Universities prefer minimum 50-55 per cent marks in graduation as qualifying criteria to offer admissions. 

  • They also conduct entrance exams to offer admission in MA Economics. 

  • The aggregate of graduation marks and entrance exams are taken into consideration to offer admission.


M.Com. (Applied Economics)

  • Aspiring candidates should have completed B.Com. degree under any registered University with a minimum of 50 per cent or above marks from a recognized university board.

  • The marks to get admission into this course may vary depending on the college. In various colleges and universities, it conducts entrance exams plus interviews for the admission of the students.


M.Sc.(Financial Economics and Administration)

  • B.Sc. or the other equivalent qualification with minimum 50 per cent marks

  • Some of the very reputed universities and institutes conduct entrance examinations for admission


M.Phil. (Business Finance & Economics)

  • The minimum eligibility for this course is a postgraduate degree in Economics or allied discipline. 

  • The candidate must have passed a post-graduation degree with a recommended aggregate of 55 per cent from a recognized university or the other equivalent exam.

  • An entrance examination is the mode preferred for admission by most colleges for this course. The candidates with their post-graduation results awaited also can apply for this course.


Ph.D. (Business Economics)

  • Candidates should have completed their MBE or M.Phil degree in the Business Economics with a minimum aggregate of 55 per cent and above from a recognized university.


They should have qualified the entrance exam conducted by the university for admission to the program such as PET, NET or other relevant entrances.

Scope of Economics in India and Abroad

The scope of the economics course is at a global level because of the ever increasing role of economics that is being understood by nations and organizations. The career has widened tremendously in the last twenty years due to globalization and rapid economic development. The growth of any organization also depends upon the economic policies undertaken. Based upon economic theories and derivations, policies are implemented as action plans. A career in economics is adorned with honor, recognition, and knowledge. This sector is the bedrock for every other sector and hence it has tremendous prospects to supply.


There is an extensive demand for analysts, economic researchers, consultants and strategists who are well trained to understand the ever changing economic trends. Economic advisors are now viewed as an ineluctable part of any small or large scale organization. The field is very interesting and offers a diversity of subjects within it. Banking, industrial sector, trade, commerce, taxation, finance, insurance and a number of other areas require basic to advance knowledge of economics. Thus, to determine a shining career with great economic uprise, economics can function as the appropriate career choice. 

Course Fees Economics

Minimum Fees Maximum Fees
Private Government Private Government
UG
324
B.A.(Hons) in Economics at Nilamani Mahavidyalaya, Balasore
607
B.A. in Economics at JN College, Nehra
25.25 Lakhs
B.A.(Hons) in Economics at Ashoka University, Sonepat
10.58 Lakhs
Dual Degree in Economics at Indian Institute of Technology Kharagpur
PG
1.10 K
M.Phil. in Economics at Queen Mary's College, Chennai
770
M.A. in Economics at Government Arts College, Salem
24.00 Lakhs
M.A. in Economics at Amity University, Noida
3.65 Lakhs
M.A. in Economics at Indian Institute of Foreign Trade, Kolkata
DOCTORAL
10.50 K
Ph.D in Economics at Maganlal Thakordas Balmukunddas Arts College, Surat
3.45 K
Ph.D in Economics at Panjab University, Chandigarh
6.61 Lakhs
Ph.D in Economics at Bhupal Nobles University, Udaipur
1.35 Lakhs
Ph.D in Economics at Institute of Infrastructure Technology Research and Management, Ahmedabad
DIPLOMA
40.00 K
Diploma in Economics at Symbiosis School of Economics, Pune
---
Data not available
4.49 Lakhs
Diploma in Economics at Indian School of Business and Finance, New Delhi
---
Data not available

Course Subjects

Here is the detailed syllabus of all the subjects taught in various degrees of economics:


B.A. Business Economics

Sem. I

Sr. No.

Subjects of Study

1         

Economics of Firm Strategy

2         

Economics of Money and Banking

3         

Managerial Economics

Sem. II

1         

Economics of Firm Strategy

2         

Economics of Money and Banking

3         

Basic Financial Accounting

Sem. III

1         

Entrepreneurial Development I

2         

Statistics for Business Analysis I

3         

Marketing I

Sem. IV

1         

Entrepreneurial Development II

2         

Statistics for Business Analysis II

3         

Marketing II

Sem. V

1         

Macroeconomics I

2         

Fiscal Economics I

3         

International Economics I

4         

Indian Economy and Economic Reforms

5         

Human Resource Development I

Sem. VI

1         

Macro Economics II

2         

Fiscal Economics II

3         

International Economics II

4         

Human Resource Development II

5         

Financial Markets

 

Electives

        

Human Resource Development Paper I & II and Financial Markets


B.Com. (Applied Economics)

Sem. I

S.No.

Subjects of Study

1

Applied Economics

 

  • Micro Economics

  • Business Environment

2

Accounting

 

  • Fundamental Principles of Accounting

  • Business Mathematics

3

Management

 

  • Indian Contract Act and Sale of Goods Act

  • Business Organization

Sem. II

1

Applied Economics

 

  • Macro Economics

  • Indian Economics

2

Accounting

 

  • Financial Accounting

  • Partnership Accounting

3

Management

 

  • Business Regulatory Framework

  • Business Communications

Sem. III

1

Applied Economics

 

  • Commercial Bank Management

  • Financial Market Operation

2

Accounting

 

  • Elements of Company Accounts

  • Theory and Practice of Cost

3

Management

 

  • Indian Company Act

  • Principles of Statistics

Sem. IV

1

Applied Economics

 

  • Banking in India

  • Investment Management

2

Accounting

 

  • Advance Corporate Accounts

  • Advance Cost Accounts

3

Management

 

Principles of Management

Advances Statistics

Sem. V

1

Applied Economics

 

  • Public Finance

  • Principles of Insurance Business

2

Accounting

 

  • Income Tax for Individuals

  • Accounting for Managers 

3

Management

 

  • Financial Management

  • Marketing Management

 

Internship: In addition to the above curriculum students are required to undertake a 2-month employment-oriented job training at a workplace

Sem. VI

1

Applied Economics

 

  • International Marketing

  • Project Planning & Control

2

Accounting

 

  • Income Tax for Business

  • Indirect Tax

3

Management

 

  • Auditing

  • Human Resource Management


M.A. (Economics)

Sem. I

S.No.

Subjects of Study

1.

Microeconomic Analysis

2.

Monetary Economics

3.

Elementary Statistics

4.

International Trade

5.

Optional Paper I

Sem. II

6.

Theory of Pricing and Distribution

7.

Macroeconomic Analysis

8.

Quantitative Methods

9.

International Finance

10.

Viva-Voce

Sem. III

11.

Economics of Growth

12.

Public Economics

13.

Issues in the Indian Economy

14.

Economics of Industry

15.

Optional Paper-II

Sem. IV

16.

Growth Models in Economics

17.

Indian Public Finance

18.

Selected Problems of the Indian Economy

19.

Economics of Agriculture

20.

Viva-Voce

Optional Papers

A

Quantitative Economics I & II

B

Econometrics I & II

C

Labour Economics I & II

D

Demography I & II

E

Economics of Gender and Development I & II

F

Economics of Infrastructure I & II

G

Financial Institutions and Markets I & II

H

Economics of Insurance I & II


M.Com( Applied Economics)

S.No.

Subjects of Study

1         

Advanced Economic Analysis I

2         

International Trade

3         

Statistical Analysis

4         

Accounting for Financial Decisions I

5         

Business Environment

6         

Industrial Economics

7         

International Banking

8         

Advanced Economic Analysis II

9         

Accounting for Financial Decisions II

10     

Quantitative Techniques for Economic Analysis

11     

Rural Economics

12     

Foreign Exchange Management

13     

Business Economics

14     

Economics Development and Planning (With Special Reference to India)

15     

India and the World Economy: In Perspective

16     

Foreign Trade Policy Procedures & Documentation

17     

Public Utility Economics

18     

Demography and Population Study

19     

Labour Economics

20     

Monetary Theory and Practice

21     

Environment and Resource Economics

22     

Transport Economics and Logistics

23     

Small Business & Entrepreneurial Skills

24     

Economics of Public Enterprises

25     

Research Methodology


M.Sc. (Financial Economics and Administration)

Subjects of Study

Economics of financial markets

Microeconomics

Financial econometrics

Financial derivatives

Dissertation

Electives

Macroeconomics

Asset pricing

Topics in mathematical finance

Topics in corporate finance

International money and finance

Numerical methods for financial economic analysis

Financial regulation

Econometrics

Careers in Economics

Economics course makes a student familiar with the Indian economy, agriculture economy, and industrial economy. Students who want to make a career in trade and commerce and banking sectors can really do wonders with the help of this course. The skills acquired through study of economics are incredibly versatile and may be used during a wide selection of industries – by the time the course ends an economics graduate will be comfortable in handling the numbers and will be well experienced in using innovative techniques to master the problems. A lot of esteemed professionals who work in banking and accountancy hold economics degrees. For any career associated with finance, an economics degree may prove to be a good foundation to create on. You can go on taking a career as an economist

Roles in data analysis like an actuary, investment analyst, are typical careers for an economics graduate. For those that need a job directly associated with economics, further study is suggested. Fortunately, there are an array of opportunities that these courses provide to students in order to specialise further and conduct detailed research in their areas of interest. An economics graduate will have some unique and highly wanted skills and in most cases, employment prospects are good. Economics is one of the evergreen subjects owing to its high utility and high demand within the work areas. It is also an important discipline both for a career as well as a job point of view. Job opportunities are increased because of globalization and after the merging of the world economy. A well-trained economist features a high demand not only in India but also internationally.

Job Profiles and Top Recruiters

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


Job opportunities can also be availed in the private sectors, NGOs and International Aid Agencies. The firms like World Bank, IMF, Asian Development Bank, and other Development Banks, Financial Consultancy firms are hiring the economic graduates for its various positions. One can work in these organisations as economist, executive,  economic advisor, analyst,  researcher, consultant, business analyst, securities analyst, economic research analyst and stock exchange analyst. The various job profiles offered are:

  • Professional Economist

  • Financial Risk Analyst

  • Data Analyst (Banking Sector)

  • Financial Planner (Banking Sector)

  • Financial Controller/Financial Economist

  • Equity Analyst

  • Cost Accountant

  • Economic Researcher

  • Business Economist

  • Agricultural Economist

  • International Economist (Specialization)

  • Industrial Economist (Specialization)

  • Labour Economist (Specialization)

  • Investment Analyst

  • Actuary


Top Recruiting Companies:

Some of the recruiting companies that hire economics graduates are as follows:

  • Accenture

  • Capgemini

  • Intelenet Global Services

  • IBM Group

  • Wipro Technologies

  • Genpact 

  • Dell

  • IES

  • RBI

Questions related to Economics

Showing 2432 out of 2432 Questions
5 Views

Career options after economics honours

Pankhuri Kumari 1st Mar, 2021
Hii!
There are a lot of career options ahead, after you complete graduation with economics honors. Some of them are -
Financial services in industries, banks, investments etc.,
Management consultant
Economist in a corporate sector firm
Development sector organisations
Thinktanks
Policy making
Accountant
Data analyst
Etc.,
Hope this helps.
Good luck!
8 Views

is there any viva voce or interview after ma entrance exam in economics sss and sis?

Manidipa Kundu Student Expert 21st Feb, 2021

hi,

sss of jnu stands for school of social sciences, where, sis stands for school of international studies. both of the centers offers m.a in economics, but the syllabus of the course is different, sss of jnu offers m.a in economics while sis of jnu has m.a in economics course with specialization of world economy.

admission is based on score in entrance test, candidates would be shortlisted based on performance in entrance exam.

No viva voce examination is held for admission to any programme except for admission to  M.Phil and Ph.D. The candidates are admitted on merit score on the basis of their performance in the Computer Based Test (CBT) and the deprivation points added to their score in accordance with the approved admission Policy and Procedures of the University.

however if the university authority want to change the pattern and add the interview sessions you  have to attend the interview as well. so regularly follow the official website and check the upcoming notifications.

17 Views

which online coaching is best for iitjam economics entrance?

Subhrajit Mukherjee 19th Feb, 2021

Since  Economics has been added only recently in IIT-JAM 2021 you need to know a few things about how to prepare for jam exam. If you want to go for online coaching institute then GATEIIT (Gate Indian Institute of Tutorials)  is the best as it has good experience in teaching economics. It has the experience hence your online classes will be well planned with results oriented method and online tests. Their study materials is also good.

You also have other sites like eduncle and unacademy so you can try them too but according to me getting enrolled in GATEIIT will be the best decision.

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I hope my answer helps. All the very best for your future endeavors!

106 Views

I graduated from Delhi University ( School of Open Learning) attaining 68% in UG. Am I eligible to give JNU entrance exam for MA Economics?

harshita sharan Student Expert 16th Feb, 2021

Hello Dear,

Yes, you are eligible for admission in MA Economics in JNU. Jawaharlal Nehru University (JNU) is one of India’s top-ranked university for Post-graduate and research studies. The selection of candidates will be done on the basis of their performance in the entrance exam conducted by the university. The entrance examination consists of One question paper of three hours duration set for each programme of study or each set of programs of study. For details follow the link:

https://university.careers360.com/articles/jnu-admission

Good Luck

11 Views

2020 question paper of MA Economics for entrance exam

harshita sharan Student Expert 15th Feb, 2021

Hello Dear,

As per the details mentioned by you, you have not mentioned the exam for which you need the entrance paper.Every exams has different syllabus. Please mention more details of the course and institute. Please elaborate your question and feel free to ask your doubts here for quick resolution of your query.

Good Luck


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