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Career Library > Economics

About Career

Are you curious to know how does a country's economy work? Are you passionate about numbers? If yes, you should consider a career in economics.

Economics is a study of production, distribution, selling and purchasing of goods and services. It is the study of how individuals, companies, nation and world use scarce resources to satisfy their wants and needs. Economists provide a mechanism for optimal distribution of resources within society.  They focus on topics like supply and demand, inflation, employment rate, national income and economic growth.

Some of the famous Indian economists are: 

  • Amartya Sen
  • Raghuram Rajan 
  • Manmohan Singh

What are the roles and responsibilities for Economist?

 

  • Economists conduct research, prepare reports, or formulate plans to address economic problems related to the production and distribution of goods and services or monetary and fiscal policy.
  • Compile, analyze, and report data to explain economic phenomena and forecast market trends.
  • Apply mathematical models and statistical techniques.
  • Observe trends and based on findings, forecast production and consumption of resources.
  • Formulate recommendations, policies, or plans to solve economic problems or to interpret markets. 
  • Research economic issues and disseminate research findings through technical reports or scientific articles in journals. 
  • Teach theories, principles, and methods of economics
  • Study the socioeconomic impacts of new public policies, such as proposed legislation, taxes, services, and regulations. 
  • Develop economic guidelines and standard.
  • Provide advice and consultation on economic relationships to businesses, public and private agencies, and other employers. 

What are the key skills required for Economics?

  • Statistics
  • Econometrics
  • Commercial law
  • Financial analysis
  • Data Analysis

What are the career opportunities in Economics?

  • Assistant Professor, Assistant Professor of Economics, Associate Professor, Associate Professor of Economics, Economics Instructor, Economics Professor, Instructor, Lecturer, Professor, Professor of Economics

What is the salary and demand for Economist?

  • Demand is High for Economics.
  • Salary levels are High for Economics. For fresher average salary is more than 5 Lacs.
  • Fees levels of the course is Medium. To pursue this course student need to spend 3 to 4 Lakhs.
  • Level of preparation for Economics is Medium. Students spend 1 year to prepare for entrance test of Economics.

1 Fees
Medium
2 Demand
High
3 Salary
High
4 Level Of Preparation
Medium

Career Videos for Economics as a career curated from Youtube

What education is required to become a Economist?

  • Student can do 12th (Maths Preferred). Then complete B.A (Hons) in Economics. Further you can Proceed with Masters in Economics. Further you can Proceed with M.Phil/Ph.D. in Economics.
  • Student can do 12 (Maths Preferred). Then complete BMS/BBA-FIA in Economics. Further you can Proceed with MBA Business Economics.
  • Student can do 12 (Maths). Then complete B.Sc Economics. Further you can Proceed with M.Sc Economics.
  • Student can do 12 (Maths Preferred). Then complete Integrated program in M.Sc Economics.

Career Navigator 1

12th (Maths Preferred)

B.A (Hons) in Economics

Masters in Economics

M.Phil/Ph.D. in Economics

Career Navigator 2

12 (Maths Preferred)

BMS/BBA-FIA in Economics

MBA Business Economics

Career Navigator 3

12 (Maths)

B.Sc Economics

M.Sc Economics

Career Navigator 4

12 (Maths Preferred)

Integrated program in M.Sc Economics

What are the best colleges for Economics in India?

For Graduation

  • Shri Ram College of Commerce - [SRCC], New Delhi
  • Lady Shri Ram College for Women - [LSR], New Delhi
  • St. Stephen's College
  • Loyola College, Chennai
  • Delhi School of Economics
  • Ramjas College, New Delhi
  • Hindu College, New Delhi
  • Stella Maris College, Chennai
  • St. Xavier's College, Mumbai
  • Symbiosis College of Arts and Commerce, Pune

For Post Graduation

  • Shri Ram College of Commerce - [SRCC], New Delhi
  • Lady Shri Ram College for Women - [LSR], New Delhi
  • St. Stephen's College
  • Loyola College, Chennai
  • Delhi School of Economics
  • Ramjas College, New Delhi
  • Jawaharlal Nehru University
  • Stella Maris College, Chennai
  • Symbiosis College of Arts and Commerce, Pune
  • Christ University, Bangalore

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