cbse 12 pcm eco student, wants to pursue economics. pls suggest the best career path for me- college,course,stream etc.

Hey Vasudha,

First of all, I must tell you that economics is a great field to choose from. Economists study the production and distribution of resources, goods, and services by collecting and analyzing data, researching trends, and evaluating economic issues. In both government and private sectors, economists are needed and hence a variety of jobs are available in this field.

UNDERGRADUATE COURSES IN ECONOMICS AFTER 12TH –

• Bachelor of Arts in Economics (BA Economics)
• Bachelor of Science in Economics (B.Sc Economics)

The difference between both these programmes is that B.Sc in Economics has more practical aspects involved as compared to that of BA in Economics which includes more of theoretical aspects. But in India, there is not a major difference between both the degrees. The level of study you do mostly depend on college.

TOP COLLEGES-

1. St. Stephen's College, University of Delhi

2. Shri Ram College of Commerce, University of Delhi

3. St. Xavier’s, Kolkata

4. Lady Shri Ram College of Commerce, University of Delhi

5. Hindu College, University of Delhi

6. Delhi School of Economics, University of Delhi

7. Ramjas College, University of Delhi

8. Ashoka University, Sonepat

9. Loyola College, Chennai

10. Symbiosis School of Economics, Pune

11. Indian Institute of Technology (IIT), Kharagpur

12. Stella Maris College, Chennai

13. Jai Hind College, Mumbai

14. Ethiraj College for Women, Chennai

15. St. Albert’s College, Cochin

16. Jadavpur University, Kolkata

17. Fergusson College, Pune

18. Christ University, Bangalore

19. Presidency College, Kolkata

20. Madras Christian College, Chennai

ADMISSION PROCESS-

While almost all colleges have admission based on merit i.e. performance in class 12th exams, some institutes also conduct entrance examinations like Symbiosis School of Economics conducts Symbiosis Entrance Test.

Hence it will be best that you score really well in class 12th to get admitted into these prestigious institutes. Students from all streams are eligible for this course.

WHAT AFTER UG DEGREE?

You can either go for jobs or even entrepreneurship or you can further continue your studies. Following are the post-graduate programmes that you can pursue after completion of your UG degree-

• M.A in Economics, Econometrics, Rural Economics, Business Economics, Quantitative Economics, Development Economics

• M.Sc in Economics, Economics Honors, Applied Econometrics, Financial Economics, and Administration

• MBA in Managerial Economics, Macroeconomic Theory, and Policy, Economic Legislation

• M.Com in Applied Economics

CAREER OPTIONS-

1. Banking Firms- Economists examine interest rates, their effect on banking systems. They are concerned with advising and providing services for a range of banking clients and consumers.

2. Multi-National Companies- Many companies hire economics graduate to project customer demands and product sales so as to maximize profit for both client firm and competitors’ firm. They also review new legislation, like minimum wage requirements or tariffs, and how it will affect their client.

3. Financial Consultancy- Consulting firms involve micro & macroeconomic study and make predictions by gathering many different statistics, compiling large databases & analyzing trends. Financial consultants work for multiple clients. Up-to-date industry knowledge and awareness of corporate finance are essential in these roles.

4. Public Sector- In the public sector, economists serve to keep government finances under control. They look at the government’s involvement in the economy, such as taxation, deficits or surpluses in budget, or policies concerning welfare.

5. Insurance and Accountancy Firms- In the field of accounting one can work across multiple industries, focusing on monitoring the financial situation of an organization, business or individual. One requires strong analytical skills, mathematical proficiency & computational ability in these roles.

6. Research Firms and Think Tanks- Economists study and analyze a variety of economic issues. Their analysis and forecasts are frequently published in newspapers and journal articles.

7. Actuarial Sciences- Economists prefer going for Actuarial Sciences by clearing the actuary papers. They need to have in-depth knowledge of Econometric, Financial Economics, Enterprise Risk Management etc.

I hope I was able to help you. if you have any other doubt or query, feel free to ask.

All the best!