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Economics - scope, careers, colleges, skills, jobs, salary

Everything you need to know about making a career in the Economics. Economics careers, scope, colleges, skills required, job prospects and salary. Discover the complete information of Economics here.

About Economics

Economics - scope, careers, colleges, skills, jobs, salary


“Economics are the method; the object is to change the heart and soul”.- ~Margaret Thatcher 

“Economics is a very dangerous science”. -~John Maynard Keynes

The economy of India is a developing mixed economy. It is the world’s sixth-largest economy by nominal GDP and the third-largest by purchasing power parity (PPP). The country ranks 141st in per capita GDP (nominal) with $1723 and 123rd in per capita GDP (PPP) with $6,616 as of 2016. After the 1991 economic liberalization, India achieved 6-7% average GDP growth annually. In FY 2015 and 2017 India’s economy became the world’s fastest growing major economy surpassing China.

  • Economics is mainly concerned with the manufacture, supply and consumption of merchandise and services. Economics experts study about economic information and suggest theories in the concerned field. Those who wish to become economists can do any of the courses in economics. There are numerous UG and PG programs in the respective branch of Social Science. Various universities and institutions offer different courses in economics. Aspirants should have a minimum qualification of graduation in economics to attend the masters’ course.

Economics Career Path

B.A. (hons.) Economics
Duration3 years
Eligibility10 + 2 or Equivalent
Entrance ExamNational Eligibility Test (NET), Jawaharlal Nehru University Entrance Exam, Madras School of Economics Entrance Exam
SpecializationAgricultural Economics, International Economics, Business Economics
Average Course FeeINR 2.10 Lakh  (Total Fees)
ModeRegular, Distance
GoalStatistical Assistant, Economics Teacher , Curriculum Developer, Data Analyst- Energy Economics
M.A. (Hons.) (Economics)
Duration5 years
Eligibility10 + 2
Entrance ExamDelhi University entrance test, IGNOU Entrance Test, Mumbai University Entrance Test
SpecializationDevelopment Economics, Natural Resource Economics, Financial Economics, Industrial Economics
Average Course FeeINR 17.9 K/ year approx.
GoalBusiness Development Executive, Investment Advisor, Economic Researcher, Research Scientist, Diplomatic Service Officer

Colleges for Economics

  • Adarsh College of Arts and Commerce, Thane, Maharashtra
  • Adarsh Mahavidyalaya, Maharashtra
  • Aligarh Muslim University, Aligarh
  • Allahabad University, Allahabad
  • Amity University, Noida
  • Annamalai University, Tamil Nadu
  • Awadhesh Pratap Singh University, Rewa
  • Bharathiar University, Coimbatore
  • Christ University, Bengaluru
  • Digboi College, Assam
  • Gauhati University, Guwahati, Assam
  • ICFAI University, West Garo Hills, Meghalaya
  • Indian Council of Social Science Research, New Delhi
  • Indian Statistical Institute, Kolkata
  • Indira Gandhi Institute of Development Research, Mumbai
  • Institute of Economic Growth, Delhi
  • Institute of Studies in Industrial Development, New Delhi
  • Jamia Millia Islamia University, New Delhi
  • Jiwaji University, Gwalior
  • Kanya Gurukul Mahavidyalaya, Dehradun
  • L.S.M. Government P.G. College, Pithoragarh
  • Lady Shri Ram College for Women, Delhi
  • Loyola College, Chennai
  • Madras Christian College, Chennai
  • Modern College of Arts Science and Commerce, Pune
  • Mount Carmel College (MCC), Bangalore
  • Nalanda Open University, Patna
  • National Council of Applied Economic Research (NCAER), New Delhi
  • National Institute of Rural Development, Rajendranagar, Hyderabad
  • Osmania University, Hyderabad
  • Sri Venkateswara Agricultural College, Tirupati
  • St. Xavier’s College, Mumbai
  • University of Lucknow
  • University of Madras, Chennai
  • Yashwantrao Chavan Maharashtra Open University, Nasik, Maharashtra

Top Colleges for Economics

Scholarship / Fellowship in Economics

  • Sir Ratan Tata Trust Post-Doctoral Scholarship
  • ICSSR PhD Scholarship

Economics Key Skills

Communication Skills

Numeracy skills

Problem Solving

Time-management skills

Economics Career Prospects

  • Statistical Assistant
  • Economics Teacher
  • Curriculum Developer
  • Data Analyst- Energy Economics
  • Business Development Executive
  • Investment Advisor
  • Economic Researcher
  • Quant Analyst- Financial Services
  • Sales Analyst
  • Research Scientist
  • Financial Risk Analyst
  • Forensic Accountant
  • Investment Analyst
  • Statistician
  • Stockbroker
  • Civil Service Fast Streamer
  • Diplomatic Service Officer
  • Local Government Officer
  • Management Consultant
  • Quantity Surveyor

Jobs in Economics

  • Colleges & Universities
  • Insurance Companies
  • Consultancy Services
  • Banking Sectors
  • Stock Exchange
  • Financing Sectors
  • Corporate Sectors
  • Research & Business Development Hubs
  • Banks / Credit Unions
  • International Trade Companies
  • Economic Research Institutions

Salary in Economics

In the initial stage of their career, they can expect a minimum scale of pay of about ₹10,000-12,000 / . Thereafter on gaining experience they can go on to earn even higher than 60,000 per month. It all depends on the knowledge gained and the position held.

Economics Role Models


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