Economists study people and their choices to understand why they make certain decisions. They have a thorough understanding of how the economy works. The role of an economist includes giving economical and financial advice to businesses, companies, brands or even the government. They are also responsible for evaluating the company’s business stance and give strategy suggestions keeping in mind economic outlook. They guide governments and organizations in making financial decisions in order to improve the country's economy.
Personal Competencies
You are comfortable in handling numbers and data
You have strong communication skills
You pay attention to details
You have a good grasp of mathematics, economics and accounting
Entry Pathway
1. Complete 10 + 2 in any stream (preferably Commerce) with Mathematics as a subject
2. Complete Bachelor’s degree in Arts (B.A.) in Economics, followed by a Master’s degree in Economics and then complete a PhD in the same or related discipline
OR
Complete a Bachelor’s degree in Management Studies (BMS)/Business Administration (BBA) in Economics followed by a Master’s degree in Business Administration (MBA) in Business Economics
Please check the duration of the course during enrolment
Where will you study?
The course is offered by the Department of Economics This list of institutes is indicative only
Government Institutes 1. Miranda House, University of Delhi, New Delhi 2. Shri Ram College of Commerce, New Delhi 3. Hindu College, New Delhi 4. Lady Brabourne College, Kolkata 5. New College Institute of Management, Chennai 6. Jadavpur University, Kolkata 7. Jamia Millia Islamia, New Delhi 8. Delhi School of Economics, New Delhi
Private Institutes (Please check if Institute is affiliated and accredited with UGC before applying) 1. Fergusson College, Pune 2. Loyola College, Chennai 3. St. Xavier’s College, Kolkata 4. St. Andrews College of Arts Science and Commerce, Mumbai 5. PSG College of Arts and Science, Coimbatore 6. Rani Birla Girls’ College, Kolkata 7. St. Joseph’s College, Bengaluru 8. Jyoti Nivas College, Bengaluru
Distance Learning Institute Indira Gandhi National Open University (IGNOU)
Fees
The approx. course fee ranges between INR 5,000 - 1,00,000*.
*(The above-mentioned figures are approximate numbers. This will vary from institute to institute)
Scholarships & Loans
SCHOLARSHIPS
• National Scholarship Portal - Visit http://www.scholarships.gov.in. Under this portal there are Central Government schemes offered by different departments, UGC/AICTE Schemes and State Schemes*
• Visit http://www.buddy4study.com for details on available scholarships. This is a gateway to scholarships starting from Class XI* • Scholarships are also made available in institutes based on merit*
*(Availability of these scholarships can vary from time to time)
LOANS
• VidyaLakshmi, http://www.vidyalakshmi.co.in, is a portal for students seeking education loan. This portal has been developed under the guidance of the Department of Financial Services, (Ministry of Finance), Department of Higher Education (Ministry of Human Resource Development) and Indian Banks Association (IBA)
• Some states have student credit cards with low interest rates, for instance, West Bengal, Odisha, Bihar, etc.
• All banks give education loans
Where will you work?
Places of Work - Government and Private Banks, Finance Companies, Global Firms, Government and Private Colleges/Universities, NGOs, Government and Private Companies
Work Environment - You will typically work independently in an office. You are likely to collaborate with other economists and statisticians, sometimes working with teams. You may be required to travel as part of the job.
Opportunities for differently abled exist in this field
Gita Gopinath is one of the top names among women economists worldwide. She is the first Economist to be serving as managing director of the International Monetary Fund (IMF) since January 2022. Prior to this, she served as the chief economist of IMF between 2019 and 2022. She completed her bachelors from Lady Shri Ram College, University of Delhi and went on to pursue a master’s from Delhi School of Economics.*
Economist
NCS Code: 2631.0100 | SS0231. Complete 10 + 2 in any stream (preferably Commerce) with Mathematics as a subject
2. Complete Bachelor’s degree in Arts (B.A.) in Economics, followed by a Master’s degree in Economics and then complete a PhD in the same or related discipline
OR
Complete a Bachelor’s degree in Management Studies (BMS)/Business Administration (BBA) in Economics followed by a Master’s degree in Business Administration (MBA) in Business Economics
Please check the duration of the course during enrolment
The course is offered by the Department of Economics
This list of institutes is indicative only
Government Institutes
1. Miranda House, University of Delhi, New Delhi
2. Shri Ram College of Commerce, New Delhi
3. Hindu College, New Delhi
4. Lady Brabourne College, Kolkata
5. New College Institute of Management, Chennai
6. Jadavpur University, Kolkata
7. Jamia Millia Islamia, New Delhi
8. Delhi School of Economics, New Delhi
Private Institutes
(Please check if Institute is affiliated and accredited with UGC before applying)
1. Fergusson College, Pune
2. Loyola College, Chennai
3. St. Xavier’s College, Kolkata
4. St. Andrews College of Arts Science and Commerce, Mumbai
5. PSG College of Arts and Science, Coimbatore
6. Rani Birla Girls’ College, Kolkata
7. St. Joseph’s College, Bengaluru
8. Jyoti Nivas College, Bengaluru
Information on the institute rankings can be found at - https://www.nirfindia.org/2022/Ranking.html
Distance Learning Institute
Indira Gandhi National Open University (IGNOU)
The approx. course fee ranges between INR 5,000 - 1,00,000*.
*(The above-mentioned figures are approximate numbers. This will vary from institute to institute)
SCHOLARSHIPS
• National Scholarship Portal - Visit http://www.scholarships.gov.in. Under this portal there are Central Government schemes offered by different departments, UGC/AICTE Schemes and State Schemes*
• Visit http://www.buddy4study.com for details on available scholarships. This is a gateway to scholarships starting from Class XI*
• Scholarships are also made available in institutes based on merit*
*(Availability of these scholarships can vary from time to time)
LOANS
• VidyaLakshmi, http://www.vidyalakshmi.co.in, is a portal for students seeking education loan. This portal has been developed under the guidance of the Department of Financial Services, (Ministry of Finance), Department of Higher Education (Ministry of Human Resource Development) and Indian Banks Association (IBA)
• Some states have student credit cards with low interest rates, for instance, West Bengal, Odisha, Bihar, etc.
• All banks give education loans
Places of Work - Government and Private Banks, Finance Companies, Global Firms, Government and Private Colleges/Universities, NGOs, Government and Private Companies
Work Environment - You will typically work independently in an office. You are likely to collaborate with other economists and statisticians, sometimes working with teams. You may be required to travel as part of the job.
Opportunities for differently abled exist in this field
Assistant Economist → Economist → Chief Economist OR Assistant Economist → Economist → Teacher/Professor
The approx. salary of an Economist ranges between INR 16,000 - 1,60,000* or more per month.
Source - https://www.payscale.com/research/IN/Job=Economist/Salary
*These figures are indicative and subject to change
Experts from the field
Gita Gopinath is one of the top names among women economists worldwide. She is the first Economist to be serving as managing director of the International Monetary Fund (IMF) since January 2022. Prior to this, she served as the chief economist of IMF between 2019 and 2022. She completed her bachelors from Lady Shri Ram College, University of Delhi and went on to pursue a master’s from Delhi School of Economics.*
Source: https://www.shethepeople.tv/shestars/five-indian-women-economists
*The above information is for training purposes only and will not be used for any commercial gains
business analyst, financial expert, economist