Reasons to Pursue a Career in Economics

The scope of Economics is so vast that limited definitions and concepts don’t bound it. According to George Bernard Shaw, “If all the economists are laid end to end, they would never reach a conclusion”. Economics is no way less than science as it involves mathematical applications in the derivation of growth of the modern economy. Economics plays a significant role in calculating Per Capita Income (PCI). It is a subject which not only deals with commerce but also humanities, social science, psychology and philosophy.

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Economics is considered as an evergreen subject, and the scope of it has increased due to Liberalisation, Privatisation and Globalisation (LPG) in the year 1990. Adam Smith, the father of Economics, paved the way for the sophisticated modern world of 21 ^st century. The demand for graduates and post graduates of Economics has been on the rise not only in India but also across various nations of the world.

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Eligibility to Pursue a Course in Economics:-

• The candidates must have passed +2 with Economics as one of the subjects of study
• The candidates who have a graduate degree in Economics can pursue Masters in Economics.
• After the post-graduation, the candidates can even opt for research programmes.

Career Prospects:-

The employment opportunities for Economics graduates have increased beyond one’s imagination. There are various job opportunities in public and private sectors with benefits such as perks, incentives and high packages. After completion of graduation, if the candidates wish to go in companies of the public sector, Reserve Bank of India (RBI) and other PSUs offer vast employment opportunities. Similarly, candidates can also seek jobs in the private sector like in Commercial Banks and Multi National Banks, Marketing Segments in various companies, BPOs and KPOs.

Top Institutes in India Offering Courses in Economics:-

• Indian Statistical Institute, Kolkata
• IIT Kanpur
• Madras School of Economics
• Symbiosis School of Economics, Pune
• Sri Ram College of Commerce, Delhi
• Banaras Hindu University
• University of Delhi, South Campus
• St. Stephen College of Economics
• Jawaharlal Nehru University
• Delhi School of Economics

Also, Reserve Bank of India conducts examination every year for the appointment of Grade ‘B’ officers. Various international organisations like International Monetary Fund (IMF), World Bank, NABARD, Asian Development Bank, World Economic Forum, International Labour Organisation (ILO) and others recruit Economics graduates and postgraduates for various positions and PhD graduates for prestigious high-level positions.

Sincere efforts and dedication will surely help one achieve success in this field. The students who are pursuing/going to pursue a course in Economics must always try to enhance their knowledge on various current issues related to the economies of different countries. This knowledge will also help them in qualifying Civil Services Examination.

CollegeDekho wishes ‘Good Luck’ to all the aspirants of Economics.