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Career Prospects for Studying Economics

Economics is omnipresent. All companies, governments and individual need to deal with the subject. It is not without reason why Economics has emerged as the driving force for every organisation. A bachelor’s programme in Economics and Business Economics is a brilliant approach towards a successful career path.
An age old subject Economics is highly valued by organisations all over the world. In addition to developing high analytical skills study of Economics also fosters flexibility, problem-solving skills, business-related awareness and communication – skills high in demand at the professional space both nationally and internationally.
Career opportunities
Higher studies in Economics, especially from institutions of repute, can create job openings in various departments of government, corporate and in education institutions.
After B.A. in Economics one can opt for a Post Graduation degree in the subject or enrol in specialized courses which are job market oriented or settle for jobs in banks or other financial institutions.
The best career option for Post Graduates in Economics, Applied Economics, Business Economics, or Econometrics is to appear for Indian Economic service examination held every year by Union Public Service Commission.
Teaching in schools or writing the National Aptitude Test (N.E.T) conducted every year by University Grant commission (U.G.C) for the post of Lecturers in colleges or Universities – are other suitable options for Economics students. Attractive salary and scopes for career advancement in the field of education is now attracting talents.
With multidimensional social aspects, Economics is a subject of national interest which has the potential of creating social balance and eradicating poverty through accurate planning of resource management in financial budgets.
Under-grad or post-grad programs in Economics
One can opt for the following under-grad or post-grad programs in Economics and allied subjects with Mathematics as combination:
B.A/ M.A (Economics)
B.A/ M.A (Business Economics)
M.A (Applied Economics)
M.A (Econometrics)
M.A (Development Economics)
M.A (Economics and Rural Development)
Research and doctoral study in Economics
In order to pursue research for doctoral degree in Economics and allied study, one can join the following research programs, after post-grad, in any of the Indian Universities:
M.Phil (Analytical and Applied Economics)
M.Phil (Economics)
M.Phil (Econometrics)
M.Phil (Business Economics)
M.Phil (Development Economics)
M.Phil (Rural Economics)
Ph.D (Economics)
Indian Institutions renowned for higher study in Economics are-
Delhi School of Economics, University of Delhi
Institute of Economic Growth, University of Delhi
Indian Council of Social Science Research, JNU Institutional Area, New Delhi
Institute of Applied Manpower Research, New Delhi
Indian Statistical Institute, Kolkata
National Institute of Rural Development, Rajendranagar, Hyderabad
Center for Economic and Social Studies, Hyderabad
Indira Gandhi Institute of Development Research, Mumbai
Work experience
Studying Economics as a subject of your higher education has the promise of building a challenging career for you in future. However, a sturdy work experience or work shadowing in accountancy and finance, will give students of Economics an added advantage. Work experiences go a long way in building the relevant professional skills including communication, team work and time management.
Applying for summer vacation placement scheme at the Government Economic Service (GES), which provides work experience opportunities from six to 12 weeks, is a good idea for students studying in under-grad or post-graduation levels. Other departments of state or central government can also be approached for work experience by connecting with the departments through email or post. Contact details will be available in the websites.
Jobs specially designed for Economics students:
Chartered accountant
Economist
Financial risk analyst
Investment analyst
Stockbroker
Other Jobs for Economics Graduates and post Graduates:
Data scientists
Diplomatic service officers
Local government officers
Management consultants
However, many organisations accept job applications from individual holding degree in any subject; hence there is no reason in restricting your search to these particular domains only.

Author: Baishali Mukherjee

Profile- An independent writer and journalist for last nine years; presently working with Education World, Entrepreneur India, Scrabbl.com and Stoodnt.com. Worked as the content head for four books and have articles and features published in leading print and digital media spaces.

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