What is Economics?

Economics is a branch which deals with the proportion or rate at which the wealth is produced, transferred, and consumed. Economics is considered as an evergreen branch since a person with skills catering to the economic sector is always in high demand in the job market. This field is considered extremely vital when looking from the perspective of education as well as job opportunities. Owing to the miraculous growth of economics at a global level, economists are highly respected and are in high requirement not only in India but globally as well.

What Kind of Students shall Pursue the Economics Degree?

Several Undergraduate (UG), Postgraduate (PG), Diploma, and Ph.D. Level course are available today. The students who are extremely curious and passionate about various topics like market trends of multiple sectors, development of economics, social services, logical abilities, mathematics, and quants, etc. are most suitable for attaining the economics degree.

Some Characteristic Traits of Economists:
  •     Logical & Analytical approach
  •     Multitasking;
  •     A keen interest in the socio-political affairs
  •     Good problem-solving abilities
  •     Positive Mentality
  •     Grasp on economic trends prevalent in the overseas
  •     Precise and accurate decision-making abilities
  •     Good communication skills
  •     Strong aptitude for management
Best Colleges for Studying Economics in India
  •     Loyola College- Chennai
  •     Lady Shri Ram College for Women- Delhi
  •     Hindu College- Delhi
  •     Xavier’s College- Kolkata
  •     Jawaharlal Nehru University - Delhi
  •     AIMS Institute- Bangalore
  •     Delhi School of Economics- Delhi
  •     Stephen College, Delhi UnIversity-Delhi
  •     Presidency College- Kolkata
  •     Symbiosis School of Economics-Pune
  •     University of Delhi, South Campus- Delhi
  •     Christ University-Bangalore
  •     Jai Hind College-Mumbai
  •     Sacred Heart College- Kerala
Let's Have Some Overview of Some of the Colleges

Shri Ram College of Commerce- Delhi

Having the prestigious affiliation to Delhi University, this college has the highest cut-off as it is one of the most coveted colleges of the University of Delhi and students need to have a solid academic base and excellent marks to get into this college. The college offers graduate and postgraduate courses.

 Lady Shri Ram College for Women- Delhi

This college, located in New Delhi, is considered as one of the best colleges and also holds an affiliation with the University of Delhi. Just like Shri Ram College of Commerce, this college also has a very high cut-off, and students who are academically brilliant can only have an entry into this college. This college is the dream college for most of the girls of commerce background in India.

Hindu College- Delhi

One of the oldest colleges in Delhi, this college is also a very esteemed college owing to its high-class faculty, state-of-the-art infrastructure, and top-class academic facilities. The college offers graduate and postgraduate courses. Just like other high-end colleges of DU, this college also has a high cut-off.

St. Xavier’s College-Kolkata

This college is a bit distinguished from other colleges as besides offering graduate and post-graduate courses, and it also provides a professional, certificate, and diploma courses. In this college, some seats are reserved for the minority community with the intention of giving them equal opportunity.

 Loyola College- Chennai

With an array of 18 different courses, this college is highly desired among South Indian students as it has acquired an A grade by National Assessment and Accreditation Council (NAAC). The admission to this college is carried out by taking a personal interview after considering the academic performance.

Eligibility Criteria
  • Completed 12th or any other corresponding examination in any stream from a sanctioned board of India.
  • Preference is also given to students who have studied Economics at the intermediate level.
  • The process of admission varies from college to college as the high emphasis is laid on the marks scored by students in the 10+2 level.
  • Some colleges also provide direct admission to the students who secured their place in the merit list.
The Scope of Economics:

This field offers a wide range of opportunities for students in Government as well as private sectors. Economists are in high demand across various government sectors such as Planning commission, Reserve Bank of India, Indian Civil Services, Ministry of Economic Affairs, and Economic Services, etc. Private sectors such as the International Aid Agencies, NGOs, Consultancy firms, and Asian Development Banks, also give an opportunity at a high pay scale to the economists.

Career Prospects and Job Roles for Economists
  •     Financial Analyst
  •     Forecaster
  •     Consultant
  •     Operations Coordinator
  •     Research Analyst
  •     Securities Analyst
  •     Customer Profit Analyst
  •     Investment Administrator
  •     Regulatory Affairs Analyst
  •     Customer Profit Analyst
Sectors in Which Economists can Work
  •     Stock Exchange
  •     Agricultural Companies
  •     Economic Research Institutions
  •     International Trade Companies
  •     Manufacturing Firms
  •     Banks
  •     Credit Unions
  •     Analysis Firms
  •     Forecasting Firms
  •     Statistical Research Firms
  •     Financial Information Firms

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Date: 25 Jan 2019

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