Because of its great utility and high demand in the labour market, economics is one of the evergreen subjects. It is also an important discipline from both a career and an employment standpoint. Because of globalisation and the merging of the international economies, job prospects have increased. Not only in India, but also around the world, a well-trained economist is in high demand. As a result of the fast globalising economic environment. Financial analysts, researchers, and consultants are employed from the huge company organisation.
Because of its utility in our day-to-day lives, economics is an evergreen subject with strong demand at both the national and international levels. The study of economics is particularly interesting because it covers a wide range of topics. Economists, financial risk analysts, Accountants, Investment Analysts, Financial consultants, Data Analysts, and more employment in Economics are available. Here you can discover a comprehensive overview of the economics career options.
Bachelor’s Degree Courses:
- Bachelor of Arts in Economics
- Bachelor of Arts in Applied Economics
- Bachelor of Arts in Business Economics
- Bachelor of Arts (Honours) in Economics
- Bachelor of Science in Economics
Master’s Degree Courses:
- Master of Arts in Economics
- Master of Arts in Econometrics
- Master of Arts in Business Economics
- Master of Arts in Applied Economics
- Master of Philosophy (MPhil) in Economics
- Master of Science (MSc) in Economics
- Master of Business Administration (MBA) in Business Economics
Doctoral Degree Course:
- Ph.D. in Economics or Econometrics.
Top Institutes to Study Economics In India
- University of Delhi, South Campus
- Delhi School of Economics (University of Delhi)
- Jawaharlal Nehru University, New Delhi
- University of Bombay, Mumbai
- University of Agricultural Science, Bangalore
- Stephen College, Delhi University
- Jamia Milia Islamia University
- Maharaja Sayajirao University of Baroda
- Bangalore University
- University of Calicut
- Banaras Hindu University, Uttar Pradesh
- Kumaun University, Uttarakhand
- Meerut University, Meerut
- University of Pune, Pune
- Sri Ram College of Commerce, Delhi
- Lady Sri Ram College for Women, Delhi
- Hans Raj College, Delhi
- Hindu College, Delhi
- Presidency College, Kolkata
- Xavier’s College, Kolkata
- Xavier’s College, Mumbai
- Loyola College, Chennai
- Symbiosis School of Economics
- Madras School of Economics
- IIT, Kanpur
- Indian Statistical Institute, Kolkata
- Ravenshaw University, Cuttack, Orissa
Top Job Roles for Economics Graduates
- BA Economics Scope
- 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)
- Labor Economist (Specialization)
- Investment Analyst
- Actuary
Economics Career Options
- Teaching Profession
- Indian Economic Services
- Banking Services within the Public Sector
- Private and Foreign Banks
- International Agencies
- Work As A Consultant
- Entrepreneurship
Teaching Profession
After completing the degree, it has one of the highest career prospects in Economics. You can apply to teach as an Economics graduate by taking the CTET or equivalent state-level teaching tests. After earning a minimum of 55 percent in an M.A. in Economics, a candidate can either pursue a Ph.D. at any university or take the University Grant Commission’s National Eligibility Test, which is currently administered by the National Testing Agency.
A candidate who passes this test will be eligible for Assistant Professor positions at Indian universities and colleges, as well as a Junior Research Fellowship in a research institution. Holders of a Ph.D. are more likely to get work in a variety of fields.
Indian Economic Services
IES is another excellent economics career option. To sit for the Indian Economic Service test, you must have completed an M.Sc. or M.A. in Economics with a minimum of 55 percent. The age range should be between 21 and 30 years old. The IES exam is administered by the UPSC. Following selection, one must work in country Planning Commissions on activities such as economic planning and analysis. They can also work for the Planning Board, the Ministry of Economic Affairs, the National Sample Survey, and other ministries that require economics expertise.
Banking Services within the Public Sector
It is the most prevalent and popular economics job path. The Reserve Bank of India hires economists in the banking sector through a variety of tests. You should be between the ages of 21 and 28. You can also work for research institutes such as the National Council of Applied Economic Research in New Delhi, the Indian Council of Social Science Research in New Delhi, and the Institute of Economic Growth in New Delhi, among others. To get into the banking business, one can take the IBPS and State Bank recruitment exams.
Private and Foreign Banks
An economist with a bachelor’s degree in economics can apply to private and foreign banks. Branch managers, clerks, economic counsellors, development officers, and other banking job descriptions are offered.
International Agencies
Experienced and well-known economists can work for a reputable international institution such as the World Bank or the International Labor Organization.
Work As A Consultant
Economics graduates can work as economic consultants on their own. Different scientific research and consultancy organizations in the private sector can provide good work prospects.
Entrepreneurship
Economists will have a broad understanding of the market. They will swiftly grasp market trends and profitable company fields. As a result, by starting their own company, individuals can quickly attain exponential growth. As a result, a great number of work possibilities can be produced. It will also help to alleviate the country’s unemployment problem.