What Is The Career Scope Of Doing A Masters In Economics?

Eligibility

To join a Masters course in Economics, you have graduate with a BA or B. Sc Economics degree. A minimum of 50% marks is required. Apart from this, national-level entrance tests are conducted by many of the institutions offering this course.

Job Prospects

Economics graduates have various professions open to them. Globalization has widened the career prospects of Economics students in various sectors including Business, Education, Government and Consultancy fields. Some of the fields in which they can get employed are:

• Banking
• INVESTMENT
• Political consulting
• Manufacturing
• Transportation
• Sales and MARKETING
• STOCK MARKETS
• Government
• Nonprofit organizations

The Indian Economics Service and positions in the Reserve Bank of India are great opportunities to be employed with, in the Government sector.

Pay scale

A Masters graduate in Economics can earn in the range of Rs. 15,000- Rs. 35,000 as the starting salary per month. Average salary per annum is about 3.5 lakhs and it can go up to Rs. 15 lakhs as well.

Broad Course content

• Micro Economic Analysis
• Indian Economic Policy
• Economics of Growth and Development                
• Actuarial Economics: Theory and Practice               
• Economic History
• Econometric Methods and Applications
• Public Economics               
• International TRADE and Finance                 
• Economics of Social Sector and Environment        
• Research Methods in Economics                
• Macro Economic Analysis
• Quantitative Methods for Economic Analysis
• Financial Institutions and MARKETS             
• Computer Applications in Economic Analysis
• Industrial and Agricultural Economics

Skill Sets Needed

Economics graduates should be able to communicate complex ideas and theories in a clear manner, be able to do numerical calculations, and interpret data. They should be able to analyze and evaluate economic problems and employ ICT skills.

Top colleges

• Delhi School of Economics, University of Delhi
• Center for Economic Studies and Planning, Jawaharlal Nehru University
• Indira Gandhi Institute of Development Research, Mumbai (M. Sc Economics)
• Indian Statistical Institute, Kolkata/Delhi (M.S. in Quantitative Economics)
• Gokhale Institute of Politics and Economics, Pune
• Birla Institute of Technology and Science, Pilani (M. Sc in Economics)
• Banaras Hindu University, Varanasi
• Madras School of Economics, Chennai
• Christ University, Bangalore (MA in Applied Economics)

Course Fees

Course fees range from Rs. 15,000 - Rs. 45,000 per year depending on the college. According to their respective websites, a distance education degree in IGNOU will cost Rs. 12,000 a year, whereas Christ University charges Rs. 42,000 a year from its economics students.

Higher education options

• M. Phil in Economics
• PhD in Economics

M. Phil or PhD eligibility is clearing the NET conducted by the UGC.