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Bachelor of Arts (Hons) Economics 

Introduction

B.A. (Hons.) Economics delves into the comprehensive understanding of economics, encompassing its definition, scope, limitations, concepts, utility, production, market, and various other significant aspects. It not only encourages students to acquire detailed knowledge but also instills the ability to scrutinize and analyse the diverse facets that govern an economy. Importantly, the course extends beyond the confines of the Indian economy, providing a global perspective that broadens career opportunities. It forms a robust foundation for advanced thinking within the field of Economics, offering students a logical paradigm for conceptualizing and interpreting the behaviour and interactions of households, firms, and government institutions.

Course Overview 

B.A. (Hons.) Economics aims to:

  • Train student in basic economic theory

  • Equip students with the mathematical and statistical techniques necessary for a proper understanding of the discipline

  • Discuss real world economic issues and problems facing the country and the world

  • Enable students to understand proper policy responses to economic problems

  • Train students to collect primary data and learn sampling techniques

  • Train   students   to   use   statistical   and   econometric methods   to   arrive   at conclusions about the validity of economic theories

  • Train students to learn the art of economic modelling

Students will:

  • Get an understanding of basic economic theory

  • Learn the mathematical and statistical techniques necessary for a proper understanding of the discipline

  • Get an introduction to real world economic issues and problems facing the country and the world

  • Gain an understanding of proper policy responses to economic problems

  • Get trained to collect primary data and learn sampling techniques

  • Learn to use scientific empirical methods to arrive at conclusions about the validity of economic theories

  • Get trained in the art of economic modelling

Options for higher studies 

WHAT AFTER BA ECONOMICS (HONS.)

-Maste of Arts in Economics

Economics at the advanced level entails a comprehensive and in depth study of economics as a discipline. This post graduated degree programme generally includes the study of economic theory, principles, micro, and macroeconomics, comparative economic systems, money, and banking systems. International economics quantitative analytical methods application to specific industries and public policy issues among other topics.

- Master of arts in applied economics

The phrase applied economics refers to the use of economic theory and analysis in practice . The master of arts in applied economics programme last 2 years on average. However, the spirit is by location in today's worldwide world and m a applied economics degree is quite valuable

- Master of Business Economics

 The Masters of Business Economics (MBE) programme is a postgraduate programme that teaches microeconomics, macroeconomics, quantitative methodologies, and applied environmental economic principles. It provides students with practical and theoretical economic knowledge, as well as management education, to assist them in making critical assessments of national and international policies, as well as changes in government structure and laws.

- Master of Arts in Quantitative Economics

Quantitative Economics asserts that there are consistent relationships in the realm of human behaviors that can be quantified or measured, allowing statistics and mathematical theories to be applied to economics. Mathematics, optimization, statistics, algorithms, and complexity theory are all employed in quantitative economics to analyze and develop economic systems. Bidders' payoffs are maximized using quantitative economics in auctions. 

- Master of Business Administration (MBA)

The majority of people assume that having a BA stops you from getting an MBA, MBA programmes are available after graduation in a variety of fields, including Arts, Commerce, and Science.

 An MBA teaches students how to cope with challenging business situations and develops managerial skills, preparing them for jobs in the fast-paced corporate world. It also allows you to look for employment openings worldwide in both the public and private sectors. Furthermore, for students interested in becoming entrepreneurs, an MBA can provide them with the necessary skills and knowledge to start a business.

-Masters in Data Science

One of the most popular options after graduating is to get a master's degree in data science. Data science has earned the moniker "the best job of the twenty-first century" because, in a world where 2.5 quintillion bytes of data is generated every day, a professional who can organize this data to create business solutions will be in great demand.

- Bachelor of Law (LLB)

The Bachelor of Laws, or LLB, is a popular choice among people who desire to continue their education after completing their BA. The programme, which lasts three years, provides substantial information on issues like jurisprudence, environmental law, arbitration, insurance law, and the Consumer Protection Act, among others. After completing the course, you can pursue an LLM, begin practicing law after registering with the appropriate bodies, or work in the public or private sectors.

- Master of Arts in Mass Communication

The MA in Mass Communication is a postgraduate degree in mass communication that covers themes including communication research, development communication, media development, interactive communication skills, media law and ethics, and more.

 Fashion photographers, film directors, producers, screenwriters, journalists, TV correspondents, and public relations officers are among the professions that an MA in mass communication prepares students for.

- Master of Arts in Human Resource Management

Human Resource Management is a topic that is covered in this course. It describes how an organization's personnel are managed. While human resource management is commonly referred to as a "soft" management talent, it requires a strategic emphasis inside an organization to ensure that people resources can help the firm achieve its objectives. The M.A. in Human Resource Management usually lasts two academic years, though this can vary depending on the institute.

ECONOMIC CERTIFICATIONS TO ADVANCE YOUR CAREER

 

- Certified Economic Developer

The Certified Economic Developer (CEcD) certification acknowledges the advanced proficiency of a professional in the field of economic development and related subjects. Provided by the International Economic Development Council (IEDC). Upon completion of the coursework, candidates become eligible to take an exam, demonstrating their comprehensive understanding of economic development. To qualify for the certification program, individuals must have accrued four years of consecutive work experience in a role related to economic development.

- Chartered Economist

Attaining the Chartered Economist certification grants you membership in the American Academy of Financial Management (AAFM) board. This credential is earned through the completion of a certification course that specifically centers on the financial decision-making process. 

- Economic Development Finance Professional

The Economic Development Finance Professional (EDFP) certification, provided by the National Development Council (NDC), is a specialized credential. To obtain EDFP status, individuals must successfully complete a four-course program concentrating on economic development subjects, including real estate and business-related topics. Acquiring an EDFP certification can serve as a valuable asset for career advancement in the field of economics, as well as in related paths like business or loan management.

- Chartered Economic Policy Analyst

The certification is designed to equip professionals for a career in analyzing economic policy and relations, particularly in the context of government, societies, and technological advancements. To attain the designation of Charter Economic Policy Analyst, individuals must successfully complete a certification program that includes courses elucidating the rationale and historical context of economic policies. This certification is frequently a prerequisite for securing roles as an economic policy analyst.

- Certified International Tax Analyst

Attaining the Certified International Tax Analyst (CITA) designation provides expertise in international taxation, with the certification offered by the Global Academy of Finance and Management. Whether you aspire to be a market analyst, lawyer, financial manager, or financial officer, obtaining this certification can be beneficial for your career prospects.

- Certificate in Small Business Development in Emerging Economies

A certificate in Small Business Development in Emerging Economies is possible through the completion of a dedicated course. This program delves into the intricacies of local economic and business management development. If you have intentions of launching your own business, obtaining this certification can be highly beneficial.

- Certificate in Quantitative Methods in Applied Economics

Upon completing their master's degree, professionals have the opportunity to obtain a certificate in Quantitative Methods in Applied Economics. This certification attests to their advanced proficiency in economic statistics and quantitative computer tools. If you aspire to pursue a career as an actuary, financial consultant, or investment banker, acquiring this certification could be a valuable step in your professional development.

- Online Intelligence Economic Certificate

This certification imparts skills to professionals on utilizing and gathering information from economic intelligence tools like databases, articles, and patents. Frequently, these certification programs encompass training on collecting and interpreting economic data, equipping individuals for careers as economic data scientists, financial advisors, or other roles in economic research.

- Agricultural and Resource Economics certification

Numerous academic institutions provide certificate programs in Agricultural and Resource Economics (ARE).This certification is designed to impart skills in managing the business aspects of agriculture, covering areas such as bookkeeping and taxation services. ARE certifications are particularly beneficial for those aiming to oversee the management of farms or other agricultural organizations.

- Certified Business Economist

Attaining the Certified Business Economist (CBE) designation is possible through the completion of courses provided by the National Association for Business Economics (NABE). Following the coursework, a comprehensive exam assesses your knowledge, with a focus on practical applications and fundamentals rather than theoretical concepts. 

- Certified Public Accountant

The certification process for Certified Public Accountants (CPAs) is managed by the American Institute of Certified Public Accountants (AICPA). To achieve this certification, you must satisfy educational and experiential requirements, including obtaining a bachelor's degree. Subsequently, you can take a certification exam, and upon successfully meeting all criteria, you earn the title of a Certified Public Accountant (CPA).

 

- Certified Management Accountant

Achieving the designation of Certified Management Accountant (CMA) demonstrates expertise in financial accounting and management. To attain CMA status, individuals must successfully complete a certification exam, which typically requires extensive preparation, often spanning hundreds of hours. It is common for professionals to pursue this certification exam after securing an entry-level or higher-level job.

- Certificate in Global Economics

Specializing in international business systems, global economic growth, and international markets, a certification in global economics requires successful completion of four classes—comprising one core global economic course and three electives. 

- Certificate in Economic Theory

To obtain this certificate, you can enroll in mathematical probability courses and select three additional courses from a set of core subjects, including economic history, behavioural economics, and microeconomic theory. Achieving a 3.0 GPA during these courses is a requirement for certification eligibility. This certification offers foundational knowledge beneficial for various roles within the field of economics.

- Certificate in Computational Economics and Data Analytics

This certification imparts skills in utilizing analytical tools and methods to interpret economic data. Attainable concurrently with a degree in economics, it requires the successful completion of four courses in data methods and economic theory. Particularly valuable for those on a career path involving computer modelling, this certification also serves as a beneficial credential for individuals aspiring to pursue roles as economic data scientists.

Job opportunities

Given its crucial role as a pillar in a country's growth, professionals in this field can explore diverse career paths, including roles in Stock Exchanges, Financial Institutions, Manufacturing firms, Agricultural companies, and the trade market.

Investment banker-Investment Bankers are experts who use their knowledge and skills to help organizations in maximizing capital. They provide expert advice in raising capital and mergers and acquisitions.

Bank Teller-A Bank teller usually is employed in financial institutions whose responsibilities include handling cash and other negotiable instruments.

Sales Executive-Sales executives are one who promote their products or services to sell them to their clients or negotiate contracts with the aim of maximizing profits.

Economist-Economists are the one who study production and distribution, demand and supply of goods & services. They basically collect and analyze data, present trends to predict future trends etc.

Research assistant-A research assistant is one who conducts background research on various economic issues including inflation, stock market, supply and demand, employment etc.

Business Writer-Business writers are expert professionals who specialize in writing about business topics such as Finance, stock market and economy. They write for business columns for magazines or newspapers or even a journal.

Budget Analyst-Budgets analysts are the professionals who help in creating budgets, preparing reports. They are engaged with private and government organizations and monitor organizational spending.

Market Research Analyst-Market research analysts are professionals who analyze the market trends and study potential consumers and competitors. They help in studying consumer behavior and what are the needs of the present consumers.

JOBS AFTER BA Economics (Hons.): SECTOR WISE

 

-Jobs After BA Economics (Hons.): Private Jobs

Human resources-Human resource managers are responsible for employing people, training them, compensating and developing strategies for the better functioning of the manpower.

Investment Administrator-Investment Administrators are professionals who provide guidance and support to clients making an investment. They maintain customers accounts and records, prepare portfolio reports and investment information.

Operations Manager-Operation Managers are one who oversee the business of the organization. They manage processes, purchasing, accounting, inventory and IT. They are mostly responsible of overseeing the production of goods and services

Credit Analyst-A credit analyst is an expert professional who analyzes the credit worthiness

of the customers as well as the firms and also assists in the ongoing management of the firm.

Success Stories 

-Manmohan Singh

Manmohan Singh (born 26 September 1932) is an Indian economist and politician who served as the Prime Minister of India from 2004 to 2014. The first Sikh in office, Singh was also the first prime minister since Jawaharlal Nehru to be re-elected after completing a full five-year term.

After obtaining his doctorate in economics from Oxford, Singh worked for the United Nations during 1966–69. He subsequently began his bureaucratic career when Lalit Narayan Mishra hired him as an advisor in the Ministry of Commerce and Industry. Over the 70s and 80s, Singh held several key posts in the Government of India, such as Chief Economic Advisor (1972–76), Reserve Bank governor (1982–85) and Planning Commission head (1985–87).

In 1991, as India faced a severe economic crisis, newly elected Prime Minister P. V. Narasimha Rao surprisingly inducted the apolitical Singh into his cabinet as Finance Minister. Over the next few years, despite strong opposition, he as a finance minister carried out several structural reforms that liberalized India’s economy. Although these measures proved successful in averting the crisis and enhanced Singh’s reputation globally as a leading reform-minded economist.

-Amartya Sen

In 1991, as India faced a severe economic crisis, newly elected Prime Minister P. V. Narasimha Rao surprisingly inducted the apolitical Singh into his cabinet as Finance Minister. Over the next few years, despite strong opposition, he as a finance minister carried out several structural reforms that liberalized India’s economy. Although these measures proved successful in averting the crisis and enhanced Singh’s reputation globally as a leading reform-minded economist. Amartya Singh, (born November 3, 1933, Santiniketan, India), Indian economist who was awarded the 1998 Nobel Prize in Economic Sciences for his contributions to welfare economics and social choice theory and for his interest in the problems of society’s poorest members. Sen was best known for his work on the causes of famine, which led to the development of practical solutions for preventing or limiting the effects of real or perceived shortages of food.

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