What is Economics?
Economics is the subject that deals with production, wealth transfer, and consumption. The subject explores the workings behind the purchasing and distribution of products. Economics studies market interaction between people and the state at large.
This is a very diverse field of study and there are different branches in this stream that a student can explore. For instance, crime, family, education, politics, war, science, religion, health, social institutions, etc. are all lesser stereotypical branches of Economics.
Degrees Offered for Economics
Undergraduate Level
Here are a few degrees offered at this level:
- Bachelor of Arts in Business Economics (B.A.)
- Bachelor of Commerce in Applied Economics (B.Com)
- Bachelor of Commerce in Business Economics (B.Com)
- Bachelor of Business Economics (BBE)
- Bachelor of Arts in Economics with Commerce (B.A.)
Postgraduate Level
Here are a few degrees offered at this level:
- Master of Arts in Economics (M.A.)
- Master of Commerce in Applied Economics (M.Com)
- Master of Philosophy in Business Finance & Economics (M.Phil)
- Master of Science in Financial Economics and Administration (M.Sc)
- Doctor of Philosophy in Business Economics (P.hD)
- Master of Arts Economics with a specialisation in Energy Economics (M.A.)
- Integrated Master of Arts in Economics (M.A.)
- Master of Science in Agricultural Economics (M.Sc)
- Master of Arts in Applied Economics (M.A.)
Specialisations in the field of Economics
Here are some specialisations in Economics that one can opt for:
- Business Economics
- Business Economics Hons
- Economics
- Economics and Finance
- Economics and Mathematics
- Economics Hons
- Economics with Data Science
- Economics with Data Science Hons
- Economics with Finance (Minor)
- Economics with Management (Minor)
- Economics, Mathematics, Statistics
- Economics, Media Studies, and Political Science
- Economics, Political Science, Sociology
Eligibility Criteria for studying Economics
Undergraduate level
- Candidates who have given their class 12 board exams are eligible to apply
- Candidates who had Commerce are eligible to apply.
- Students expecting their board results in class 12 can also apply.
Postgraduate level
- Candidates need to have a bachelor's degree in Economics from any recognised university.
- Students need to have a minimum of 50% as their aggregate for applying to most of the postgraduate commerce courses.
Entrance Exams for studying Economics
Here are some entrance exams that a candidate can appear for:
- Delhi University Joint Admission Test (DUJAT)
- National Test for Programs After Twelfth (NPAT)
- State Eligibility Test (SET)
- Central Universities Common Entrance Test (CUET)
- Indraprastha University Common Entrance Test (IPU CET)
- Delhi University Delhi School of Economics (DU DSE)
- Indian Statistical Institue Admission Test (ISI)
- Jawaharlal Nehru University Admission Test (JNU)
Aptitude required for studying Economics
If you wish to take up Economics as a subject, below are some skillsets that you should master:
- Quick Thinking Skills
- Problem Solving Skills
- Critical Analysis Skills
- Numeric Skills
- Time Management Skills
- Logical Reasoning
Syllabus for Economics
Here are some papers that Economics covers:
- Mathematical Methods for Economics
- Microeconomics
- Art of Communication
- Environmental Science
- Statistical Methods for Economics
- Data Analysis
- Introductory Econometrics
- Research Methodology
- Contemporary Economic Issues
- Indian Economy
- Development Economics
- Game Theory
- International Trade
- Public Economics
- Financial Economics
- Applied Econometrics
- Economic History of India
- Political Economy
- Economics of Health and Education
- Environmental Economics
- Open-Economy Macroeconomics
- Money and Financial Markets
- Comparative Economic Development
- Law and Economics
Career Prospects/Placements for Economics students
Mentioned below are some job profiles that students of Economics get placed in:
- Sales Analyst
- Economics Researcher
- Economist
- Investment Analyst
- Investment Administrator
- Customer Profit Analyst
- Professional Economist
- Financial Risk Analyst
- Data Analyst (Banking Sector)
- Financial Planner (Banking Sector)
- Financial Controller/Financial Economist
- Equity Analyst
- Cost Accountant
- Business Economist
- Agricultural Economist
- International Economist (Specialization)
- Industrial Economist (Specialization)
- Labour Economist (Specialization)
- Actuary
Starting Salary for Economics students
The starting salary for an Economics professional in India is between 4-7LPA.
Subjects similar to Economics
Candidates looking for similar subjects to accountancy could opt for International Studies, Finance, Banking, Accountancy, Mathematics, Statistics, etc.