MA Economics, also known as Master of Arts in Economics, is a two-year postgraduate course that has gained popularity among students in the arts stream. The course is structured into four semesters and provides students with a comprehensive understanding of various aspects of economics within a society. MA Economics Syllabus covers a wide range of topics such as macroeconomics, microeconomics, public economics, econometrics, finance, accounting, and international and financial economics.
Upon successful completion of the program, graduates can explore job opportunities in the arts field. MA Economics is a discipline that focuses on the study of production, consumption, and changes in supply and demand within markets. On average, MA graduates can expect to receive a salary package ranging from Rs. 5-7 lakhs per annum.
The MA Economics crucial highlights are mentioned in the table below:
|Degree Name||MA in Economics OR Master of Arts in Economics|
|Degree Duration||2 years|
|Entrance Exams||DUET, CUET, TS CPGET, TISSNET, etc.|
|Eligibility Criteria||Graduation with a degree in BA in Economics or any other stream and a minimum percentage of 50% at the level of graduation is required|
|Admission process||Entrance Exam or Merit Based/ Undergraduate qualification in economics or any discipline from a recognized university|
|Course Fees||Rs. 20,000 to Rs. 50,000|
|Average Salary||Rs. 5 - 7 Lakh per annum|
|Job profiles||Professional Economist, Data Analyst, Equity Analyst, Financial Planner, Professional Economist, etc.|
|Top recruiters||ICICI Bank, RBI, Citi Bank, Kotak, etc.|
MA Economics is a comprehensive program that delves into the realms of finance and market management, focusing on global economies and the intricacies of financial markets. This course not only examines the functioning of finance within an economy but also equips students to tackle industry challenges effectively.
The core of MA Economics lies in understanding wealth generation, distribution, and consumption within a society. It covers extensive macroeconomics topics such as pricing, output, and employment, along with microeconomics concepts like demand, supply, market dynamics, and consumer behavior in an economy. Virtually every aspect of a country, from individuals and businesses to the government and services, is deeply intertwined with economics.
As graduates, students will be equipped to pursue careers in both the public and private sectors, finding opportunities in areas such as banking, finance, and labor markets.
Studying MA Economics offers numerous compelling reasons to consider:
Deep Understanding of Economies: MA Economics provides a comprehensive understanding of economic principles, theories, and models, enabling students to analyze and interpret complex economic phenomena in different societies.
Diverse Career Opportunities: Graduates with an MA in Economics have access to a wide range of career opportunities in both public and private sectors. They can pursue roles in finance, consulting, government, research, academia, and international organizations.
Problem-Solving Skills: The program hones critical thinking and analytical skills, empowering students to address real-world economic challenges effectively.
Influence on Policy: Economics plays a crucial role in shaping government policies and strategies. As an economist, you can contribute to policymaking and have a positive impact on society.
Versatility: Economics is a versatile field that can be applied to various industries, such as healthcare, energy, environment, and technology, providing graduates with flexibility in choosing their career paths.
Personal and Professional Development: The rigorous curriculum and research-oriented approach help students develop strong research, communication, and presentation skills, essential for personal and professional growth.
Understanding Global Economy: MA Economics explores international economics and trade, offering insights into the interconnectedness of economies around the world.
Well-Compensated Careers: Economists are often well-compensated for their expertise and insights, making it a rewarding career choice.
Addressing Societal Issues: Through economic analysis, students can contribute to understanding and finding solutions to various societal problems like poverty, unemployment, and income inequality.
Foundation for Further Studies: For those aspiring to pursue a Ph.D. or other advanced degrees in economics, an MA provides a solid foundation and research experience.
Overall, studying MA Economics equips individuals with a valuable skill set and knowledge base, enabling them to make informed decisions, contribute to economic development, and navigate the complexities of the global economy.
Universities such as Jawaharlal Nehru University, Delhi University and Manipal University select students through entrance exams, while other institutions like Christ University, Loyola College, and the University of Hyderabad follow a merit-based admission process. Distinct admission procedures are adopted by universities like IGNOU and Karnataka State Open University, which offer distance education and allow students to enroll directly. Nevertheless, some colleges, like Delhi University and the Department of Business Economics, set aside a certain percentage of seats for merit-based admissions.MA Economics Eligibility Criteria
The eligibility requirements for admission through entrance exams and merit basis vary, but students aspiring to pursue a master's degree in economics must meet the following MA Economics eligibility criteria:
Entrance exams for MA Economics are standardized tests that prospective students need to take as part of the admission process for various universities and colleges offering this program. These exams are designed to assess the applicants' aptitude and knowledge in economics and related subjects. A few of the popular entrance exams for MA Economics course in India include:
Each university or college may have its specific entrance exam pattern, syllabus, and selection criteria. Students are advised to check the respective institution's website or admission brochure for detailed information on the entrance exam and its preparation. Successfully qualifying in these exams opens doors to pursuing a Master's in Economics and embarking on a rewarding career in the field of economics and related areas
For individuals aiming to appear in MA Economics entrance exams, it is essential to have a solid grasp of the common sections covered in these tests. Here are some key areas on which students should concentrate to secure admission to reputable colleges:
Qualifying an entrance test may appear daunting, but it holds significant importance in taking you closer to your dream college. By following the below-mentioned tips, clearing the entrance exam can become more manageable.
To get admission to popular MA Economics Colleges in India, follow the steps mentioned below:
The MA Economics syllabus that is typically followed by most institutions in India is listed below:
|Microeconomic Theory||Macroeconomic Theory|
|Introductory Mathematical Economics||Theory of Pricing and Distribution|
|Introductory Econometrics||International Finance|
|International Trade||Quantitative Methods|
|Development Economics||Public Economics|
|Industrial Economics (Electives)||Financial Economics (Electives)|
|Environmental Economics (Electives)||Economics of Infrastructure (Electives)|
|Globalization and Economics (Electives)||Economic Demography (Electives)|
|-||Economics and Law (Electives)|
Here is a table showcasing some of the core and optional subjects commonly offered in MA Economics program:
|Core Subjects||Optional Subjects|
|Mathematical Economics||Financial Economics|
|Public Economics||Labor Economics|
|Monetary Economics||Environmental Economics|
|International Trade and Finance||Health Economics|
|Economic Growth and Development||Behavioral Economics|
|Applied Econometrics||Game Theory|
|Economic Policy and Analysis||Urban and Regional Economics|
|Managerial Economics||Agricultural Economics|
|Research Methods in Economics||Energy Economics|
|Economic History||Econometric Forecasting|
|Comparative Economic Systems||Economics of Education|
|Financial Markets and Institutions||Innovation and Technology Economics|
Please note that the availability of these subjects may vary among universities and colleges offering MA in Economics programs. The table provides a general overview and it's advisable to refer to the specific curriculum of the desired institution for the most accurate and up-to-date information on the core and optional subjects available.
MA Economics books are valuable resources that facilitate exam preparation and enhance the learning experience. The market offers a wide array of such books, and we have compiled a list of some of the finest options for you. Here are some popular books recommended for students pursuing MA Economics:
|"Indian Economy"||Ramesh Singh|
|"Indian Economy: Performance and Policies"||Uma Kapila|
|"Microeconomics: Theory and Applications"||M.L. Jhingan|
|"Macroeconomics: Theory and Policy"||M.L. Jhingan|
|"Economic Growth and Development in India"||C.Rangarajan and Dholakia|
|"International Economics"||Bo Soderston|
|"Monetary Economics"||S.B. Gupta|
|"Public Finance"||H.L. Bhatia|
|"Indian Economy: Problems and Prospects"||Uma Kapila|
|"Development and Planning: A Contemporary Perspective"||M.L. Dhingra|
These books cover various topics in economics and are highly recommended for MA Economics students in India.
Here is a table showcasing some of the top MA Economics colleges in India. Please note that this list is not exhaustive and the rankings may vary depending on different sources and criteria:
|Delhi School of Economics||Delhi|
|Jawaharlal Nehru University||Delhi|
|St. Stephen's College||Delhi|
|Madras School of Economics||Chennai|
|Gokhale Institute of Politics and Economics||Pune|
|Indian Statistical Institute||Kolkata|
|University of Hyderabad||Hyderabad|
|Banaras Hindu University||Varanasi|
|Aligarh Muslim University||Aligarh|
|University of Delhi||Delhi|
These colleges are renowned for their MA Economics programmes and are known for their academic excellence and faculty expertise. It's advisable to refer to official websites and conduct further research to gather more information about specific admission requirements, curriculum, and reputation before making a decision.
MA in Economics candidates interested in learning more about MA Economics degree in India should be aware that, in addition to a regular postgraduate degree, universities such as IGNOU, Sri Venkateswara University, Karnataka State Open University, Punjab University, Bangalore University, and Mumbai University offer the MA in Economics course as a distance degree. Different universities may have different admission criteria based on merit or entrance tests. An individual's distance learning program can take 2 to 5 years to finish, and the typical annual course fee for a MA in Economics distance program can vary from INR 3,000 to INR 12,000.
Any aspirant with a MA Economics distant degree in the same field of study will have no trouble finding work in any government or commercial firm. MA in Economics correspondence course also provides a lot of options to earn good money after completing the course. A few of the best MA Economics distance learning institutes in India are mentioned below:
|Institute Name||MA in Economics Admission Criteria||MA in Economics Average Annual Course Fee|
|Mumbai University||Merit-based||INR 6,015|
|Sri Venkateswara University||Merit-based||INR 2,250|
Frequently, students face confusion when deciding between MA Economics and MBA for their higher studies. The following table presents a clear distinction between the two options to aid in making an informed choice:
|Particulars||MA Economics||MBA (Master of Business Administration)|
|Field of Study||Specializes in Economics and its applications in various sectors.||Focuses on Business Administration, Management, and Leadership.|
|Career Focus||Primarily academic and research-oriented, prepares for roles in academia, research, and policy.||Primarily business and management-oriented, prepares for managerial positions in corporate and business.|
|Course Fees||Rs. 10,000 - Rs. 1,50,000||Rs. 2,00,000 - Rs 25,00,000|
|Average Annual Salary||Rs. 3,00,000 - Rs 6,50,000||Rs 3,00,000 - Rs. 10,00,000|
|Job Opportunities||Opportunities in research, teaching, government, and international organizations.||Opportunities in various industries, including finance, marketing, human resources, consulting, and more.|
|Duration||Typically 2 years full-time.||Typically 2 years full-time, but duration can vary for executive or part-time MBA programs.|
|Prerequisites||A bachelor's degree in Economics or related field is required.||A bachelor's degree in any discipline, preferably with work experience.|
|Skill Focus||Emphasizes economic theory, quantitative analysis, and econometrics.||Emphasizes leadership, strategic management, teamwork, and communication skills.|
Understanding these differences can assist students in choosing the path that aligns with their interests, career goals, and skill sets.
Here’s the table highlighting core differences between MA Economics and M.Sc Economics:
|Particulars||MA Economics||M.Sc Economics|
|Full Form||Master of Arts in Economics||Master of Science in Economics|
|Academic Focus||Theoretical and Applied Economics||Emphasis on Quantitative and Applied Economics|
|Curriculum||Focuses on Economic Theories, Policies, and Research||Includes Advanced Mathematical Economics, Econometrics, and Applied Economics|
|Research Orientation||Research-oriented with emphasis on economic analysis and policy||Research-oriented with a strong quantitative and data analysis focus|
|Career Opportunities||Opportunities in Academia, Research, Government, and International Organizations||Opportunities in Research, Financial Analysis, Consulting, and Government|
|Skill Emphasis||Strong focus on Economic Theory and Policy Analysis||Emphasis on Quantitative and Statistical Analysis|
|Prerequisites||Bachelor's Degree in Economics or Related Field||Bachelor's Degree in Economics or Related Field|
|Duration||Typically 2 years full-time||Typically 2 years full-time|
|Scope||Suitable for students interested in Economics, Policy Analysis, and Research||Suitable for students interested in Economic Analysis, Data Science, and Research|
|Job Roles||Economist, Economic Analyst, Researcher, Policy Advisor||Economic Consultant, Data Analyst, Financial Analyst, Research Associate|
The choice between MA Economics and M.Sc Economics depends on individual interests, career goals, and preferred skill development. MA Economics emphasizes a broader understanding of economics, while M.Sc Economics focuses on specialized quantitative methods and data analysis skills.
Here's a table comparing MA Economics and M.Com (Master of Commerce):
|Particulars||MA Economics||M.Com (Master of Commerce)|
|Field of Study||Specializes in Economics and its applications in various sectors.||Focuses on Commerce, Accounting, and Finance.|
|Career Focus||Primarily academic and research-oriented, prepares for roles in academia, research, and policy.||Primarily business and commerce-oriented, prepares for careers in finance, accounting, and corporate sectors.|
|Job Opportunities||Opportunities in research, teaching, government, and international organizations.||Opportunities in accounting firms, financial institutions, corporate companies, and government organizations.|
|Core Subjects||Microeconomics, Macroeconomics, Mathematical Economics, Econometrics, etc.||Financial Accounting, Cost Accounting, Auditing, Taxation, etc.|
|Duration||Typically 2 years full-time.||Typically 2 years full-time.|
|Prerequisites||A bachelor's degree in Economics or related fields is required.||A bachelor's degree in Commerce or related fields is required.|
|Skill Focus||Emphasizes economic theory, quantitative analysis, and research skills.||Emphasizes accounting principles, financial analysis, and business management skills.|
Both MA Economics and M.Com offer valuable knowledge and skills in their respective fields. The choice between the two programs should be based on individual interests, career goals, and the specific area of study one wishes to pursue.
MA Economics offers a wide range of career options and excellent job prospects. Graduates with an MA in Economics possess strong analytical and problem-solving skills, making them sought after in various sectors. Here are some common career options and job prospects for MA Economics graduates:
Economist: Graduates can work as economists in government departments, research institutions, and international organizations. They analyze economic data, conduct research, and provide insights for policy-making and economic forecasting.
Financial Analyst: MA Economics graduates can work as financial analysts in banks, investment firms, or financial institutions. They analyze market trends, assess financial risks, and provide recommendations for investment decisions.
Policy Analyst: Graduates can work as policy analysts in government agencies, think tanks, or research institutes. They evaluate existing policies, analyze their impact, and propose policy recommendations for economic development and growth.
Data Analyst: With their strong quantitative skills, MA Economics graduates can work as data analysts, helping organizations analyze large datasets, interpret economic trends, and make data-driven decisions.
Market Research Analyst: Graduates can pursue careers as market research analysts, analyzing consumer behavior, market trends, and economic factors to provide insights for businesses and organizations.
Economic Consultant: MA Economics graduates can work as economic consultants, providing expert advice to businesses, government agencies, or non-profit organizations on economic matters, market analysis, and policy implications.
Academia and Teaching: Graduates can pursue a career in academia as professors or lecturers, teaching economics at universities and colleges, and conducting research in specialized areas.
International Organizations: MA Economics graduates can find employment in international organizations such as the World Bank, IMF, UN, or regional development banks, working on global economic issues, policy formulation, and research.
Research Analyst: Graduates can work as research analysts in economic research organizations, think tanks, or consulting firms, conducting research on various economic topics and contributing to policy analysis.
Entrepreneurship: Some MA Economics graduates choose to start their own consulting firms or businesses, providing economic analysis and consulting services to clients.
The job prospects for MA Economics graduates are vast, with opportunities in the public and private sectors, research organizations, financial institutions, consulting firms, and academia. The demand for skilled economists continues to grow, given the need for data-driven decision-making, policy analysis, and economic expertise in various domains.
Here is a table showcasing the approximate salary ranges for professionals with an MA Economics in various job roles and sectors:
Salary Range (Approximate)
|Economist||Rs. 4,50,000 - Rs. 12,00,000 per annum|
|Financial Analyst||Rs. 5,00,000 - Rs. 15,00,000 per annum|
|Policy Analyst||Rs. 4,00,000 - Rs. 10,00,000 per annum|
|Data Analyst||Rs. 4,00,000 - Rs. 10,00,000 per annum|
|Market Research Analyst||Rs. 3,50,000 - Rs. 8,00,000 per annum|
|Economic Consultant||Rs. 5,00,000 - Rs. 15,00,000 per annum|
|Research Analyst||Rs. 4,00,000 - Rs. 10,00,000 per annum|
These salary ranges are indicative and can vary based on factors such as the candidate's skills, experience, the organization's size and location, and market conditions. It's advisable to research specific job roles, industries, and regions to get a more accurate understanding of the salary expectations in the field of MA Economics
The future potential of the MA Economics course in India is highly promising and rewarding. As the global economy becomes increasingly complex, the demand for skilled economists continues to rise across various sectors. Here are some key factors that highlight the bright prospects of pursuing MA Economics in India:
Diverse Career Opportunities: MA Economics graduates have a wide array of career opportunities in both the public and private sectors. They can work as economists, analysts, consultants, researchers, and policymakers in government agencies, financial institutions, research organizations, and multinational corporations.
Policy Influence: Economists play a crucial role in shaping economic policies and strategies at the national and international levels. They contribute to resolving economic challenges, promoting growth, and addressing socio-economic issues.
Data-Driven Decision Making: Economists' expertise in data analysis and quantitative methods makes them valuable assets in making informed business decisions, financial planning, and market analysis.
Research and Academia: MA Economics graduates can pursue research and teaching careers in universities, think tanks, and academic institutions, contributing to the field's advancement and mentor future economists.
Global Relevance: With India's growing integration into the global economy, there is an increasing demand for economists who can analyze and understand international economic trends and trade dynamics.
Growing Specializations: MA Economics offers various specializations, such as environmental economics, development economics, and financial economics, catering to diverse interests and career paths.
Lucrative Salaries: Economists are well-compensated for their expertise and analysis, especially in sectors like finance, consulting, and research.
Continuous Learning: The field of economics is constantly evolving, offering opportunities for continuous learning and staying updated with the latest economic trends and theories.
Overall, the MA Economics course in India provides a strong foundation for a successful and fulfilling career in a wide range of sectors, making it an attractive and promising option for aspiring economists.
For many students, a master's degree in economics is worthwhile. MA in Economics program can teach you how to identify financial patterns and conduct sophisticated financial analysis. This can assist you in becoming a valuable employee and getting a better-paying job as a fresher.
Economist, Financial Consultant, Risk Analyst, Financial Planner, Economic Researcher, Economics Teacher/Professor, and many other jobs are available after obtaining your MA in Economics postgraduate degree. Candidates can opt to study Ph.D. after MA in Economics to further their knowledge and career.
Candidates who wish to take admission in the MA in Economics course must fulfill the following MA in Economics eligibility criteria:
If you want to pursue a hardcore managerial career in the corporate sector then MBA is the right choice for you but if you would want to create a positive shift in the economy and contribute to economic development then MA in Economics is the correct career choice for you.
Generally speaking, MA in Economics is not a tough stream but you find statistics and mathematical calculations tough then you should reconsider opting for MA in Economics course.
After MA in Economics, graduates can work in various fields and earn pretty decent starting salaries. A few of the MA in Economics job positions that you will work under after your MA in Economics degree are:
After finishing your MA in Economics, you can begin working in consulting businesses. Other industries include market research, financial services, labor, etc. MA in Economics fields like consultancy and research require multiple job duties to be performed.
Multiple subjects form the syllabus of the MA in Economics course and a few of the MA in Economics subjects are Public finance, International trade, microeconomics, macroeconomics, statistics and computer applications, etc.
The MA in Economics focuses on the advanced study of economics as a discipline. MA in Economics is open to those who have completed a bachelor’s degree in any discipline whereas M.Sc Economics is the study of scientific concepts in the field of economics open to applicants with a Bachelor of Science degree in any specialization.
Some of the popular MA in Economics entrance exams in India are BHU-PET, AUCET, DUET, JNUEE, etc.
MA in Economics is a two-year postgraduate degree that focuses on the advanced study of economic theories, principles, and quantitative methods. It provides a deeper understanding of various economic concepts, equipping students with analytical skills to analyze complex economic issues and pursue careers in sectors like government, finance, research, and consulting.
The future after completing an MA in Economics is promising. Graduates have a wide range of career opportunities in sectors such as government, finance, research, consulting, and academia. They can work as economists, financial analysts, policy analysts, consultants, researchers, or pursue further studies to specialize in a specific area of economics.
It is not uncommon for MA Economics graduates to secure respectable positions with highest salary packages ranging from Rs. 10 lakh to Rs. 20 lakh per annum or even higher, particularly in sectors like finance, consulting, and research.
Yes, MA Economics distance education is available at many universities and educational institutions that are offering MA Economics programmes through distance learning or online platforms. This allows students to pursue their studies remotely without the need to attend classes on campus. Distance education programs in MA Economics typically provide online lectures, study materials, assignments, and exams, enabling students to complete the coursework at their own pace and from the convenience of their own location.
Yes, Indira Gandhi National Open University (IGNOU) offers an MA Economics course through its School of Social Sciences (SOSS). The MA Economics program at IGNOU is designed for individuals who wish to gain a deeper understanding of economic theory and its practical applications. The program covers various aspects of microeconomics, macroeconomics, econometrics, development economics, international trade, monetary economics, and public economics.
Yes, a basic understanding of mathematics is necessary for pursuing an MA in Economics. Economics is a discipline that heavily relies on quantitative analysis, statistical methods, and mathematical modeling to study and analyze economic phenomena. During an MA Economics program, students are likely to encounter mathematical concepts and techniques such as calculus, algebra, statistics, optimization, and econometrics. These mathematical tools are used to formulate and solve economic models, analyze economic data, and understand economic theories and their implications.
In most cases, it is not possible to pursue an MA in Economics without a BA degree or an equivalent undergraduate degree. A bachelor's degree is typically a prerequisite for admission to a master's program, including an MA in Economics. This is because an MA Economics builds upon the foundational knowledge and skills acquired during a bachelor's degree program.
While an Economics degree does involve mathematical analysis, it also encompasses other aspects such as theory, policy, and analysis of human behavior. However, a certain level of comfort with math is beneficial for understanding economic concepts and models. Consider your interests and aptitudes before deciding on pursuing an Economics degree.
While anyone can technically opt for an MA Economics course, it is important to consider the prerequisites and admission requirements set by each university or educational institution. These may include holding a relevant undergraduate degree, meeting minimum GPA requirements, and demonstrating a certain level of proficiency in economics and mathematics.
The duration of an MA Economics degree typically ranges from 1 to 2 years. The exact duration may vary depending on the educational institution and the specific program structure. Some universities offer a 1-year MA Economics program for students who have completed a relevant undergraduate degree, while others may have a 2-year program that includes additional coursework and research components.
Specialization options within an MA in Economics program allow students to focus on specific areas of economics, such as macroeconomics, microeconomics, econometrics, international economics, or financial economics, to gain in-depth knowledge and expertise in their chosen field.
Yes, you can pursue an MA in Economics even if your undergraduate degree is in a different field. Many universities offer bridge programs or preparatory courses to help students without an undergraduate economics background acquire the necessary knowledge and skills. Admission requirements may vary, but a strong interest in economics and relevant analytical abilities are usually important factors considered by admissions committees.
After completing an MA Economics, you can pursue a PhD in Economics. The MA program provides a solid foundation and prepares you for further research and advanced study. A PhD in Economics allows you to specialize in a specific area of interest and conduct original research, leading to a deeper understanding of economic theory and potentially opening up academic or research-oriented career opportunities.
After completing an MA in Economics, you will have diverse career prospects. You can work in financial institutions, government agencies, research organizations, or multinational corporations. Your skills in data analysis, economic forecasting, and policy evaluation will make you an attractive candidate for positions such as economist, data analyst, policy analyst, or research associate.
Admission to an MA Economics programme in India can be highly competitive. Many prestigious universities and institutes offer the program, attracting a large pool of applicants. Admissions are often based on merit, with emphasis on academic performance, entrance exams, and interviews. The competition is influenced by the limited number of seats available relative to the number of applicants. It is advisable to have a strong academic background and prepare diligently for the admission process.