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How to become a Economist in India

Ankit Agrawal - Thursday 8th September 2022

Career in  Economics

Career in Economics

Are you curious to know how does a country economy work? Are you passionate about numbers? If yes, you should consider a career in economics.

Economics is a study of production, distribution, selling and purchasing of goods and services. It is the study of how individuals, companies, nation, world use scarce resources to satisfy their wants and needs. Economists provide a mechanism for optimal distribution of resources within society.  They focus on topics like supply and demand, inflation, employment rate, national income and economic grown.

Some of the famous Indian economists are: 

  • Amartya Sen, 
  • Raghuram Rajan 
  • Manmohan Singh

 

 

What are the roles and responsibilities for Economist?

 

  • Economists conduct research, prepare reports, or formulate plans to address economic problems related to the production and distribution of goods and services or monetary and fiscal policy.
  • Compile, analyze, and report data to explain economic phenomena and forecast market trends.
  • Apply mathematical models and statistical techniques.
  • Observe trends and based on findings, forecast production and consumption of resources.
  • Formulate recommendations, policies, or plans to solve economic problems or to interpret markets. 
  • Research economic issues and disseminate research findings through technical reports or scientific articles in journals. 
  • Teach theories, principles, and methods of economics
  • Study the socioeconomic impacts of new public policies, such as proposed legislation, taxes, services, and regulations. 
  • Develop economic guidelines and standard.
  • Provide advice and consultation on economic relationships to businesses, public and private agencies, and other employers. 

How to Become an Economist in India?

There are 4 ways to become an Economist in India

Career Path 1

Student can do 12th (Maths Preferred). Then complete B.A (Hons) in Economics. Further you can Proceed with Masters in Economics. Further you can Proceed with M.Phil/Ph.D. in Economics.

Career Path 2

Student can do 12 (Maths Preferred). Then complete BMS/BBA-FIA in Economics. Further you can Proceed with MBA Business Economics.

Career Path 3

Student can do 12 (Maths). Then complete B.Sc Economics. Further you can Proceed with M.Sc Economics.

Career Path 4

Student can do 12 (Maths Preferred). Then complete Integrated program in M.Sc Economics.

What are the key skills required for Economics?

  • Statistics
  • Econometrics
  • Commercial law
  • Financial analysis
  • Data Analysis
Should I become a Economist
Check your career fit for Economics in 35 Min

What are the career opportunities in Economics?

  • Assistant Professor, Assistant Professor of Economics, Associate Professor, Associate Professor of Economics, Economics Instructor, Economics Professor, Instructor, Lecturer, Professor, Professor of Economics

What is the salary and demand for Economist?

  • Demand is High for Economics.
  • Salary levels are High for Economics. For fresher average salary is more than 5 Lacs.
  • Fees levels of the course is Medium. To pursue this course student need to spend 3 to 4 Lakhs.
  • Level of preparation for Economics is Medium. Students spend 1 Year. to prepare for entrance test of Economics.

1 Fees
Medium
2 Demand
High
3 Salary
High
4 Level Of Preparation
Medium

Career Videos for Economics as a career curated from Youtube

What are the best colleges for Economics in India?

For Graduation

  • Shri Ram College of Commerce - [SRCC], New Delhi
  • Lady Shri Ram College for Women - [LSR], New Delhi
  • St. Stephen's College
  • Loyola College, Chennai
  • Delhi School of Economics
  • Ramjas College, New Delhi
  • Hindu College, New Delhi
  • Stella Maris College, Chennai
  • St. Xavier's College, Mumbai
  • Symbiosis College of Arts and Commerce, Pune

For Post Graduation

  • Shri Ram College of Commerce - [SRCC], New Delhi
  • Lady Shri Ram College for Women - [LSR], New Delhi
  • St. Stephen's College
  • Loyola College, Chennai
  • Delhi School of Economics
  • Ramjas College, New Delhi
  • Jawaharlal Nehru University
  • Stella Maris College, Chennai
  • Symbiosis College of Arts and Commerce, Pune
  • Christ University, Bangalore

What are the best entrance exam for Economics in India?

For Graduation

  • Guru Gobind Singh Indraprastha University Common Entrance Test-IPU CET 2022
  • Banaras Hindu University Undergraduate Entrance Test-BHU UET 2022
  • University of Petroleum and Energy Studies Design Aptitude Test-UPES DAT 2022
  • CMR University Admission Test-CMRUAT 2022
  • Symbiosis Entrance Test-SET 2022
  • Integral University Entrance Test-IUET 2022
  • Aliah University Admission Test-AUAT 2022
  • Delhi University Joint Admission Test-DU JAT 2022
  • Tata Institute of Social Sciences Bachelor Admission Test-TISS BAT 2022
  • Jawaharlal Nehru University Entrance Examination-JNUEE 2022

For Post Graduation

  • Guru Gobind Singh Indraprastha University Common Entrance Test-IPU CET 2022
  • Tata Institute of Social Sciences National Entrance Test-TISSNET 2022
  • Punjab University Combined Entrance Test-PU CET 2022
  • Cochin University of Science and Technology Common Admission test-CUSAT CAT 2022
  • University of Petroleum and Energy Studies Design Aptitude Test-UPES DAT 2022
  • Mahatma Gandhi University Common Admission Test-MGU CAT 2022
  • Integral University Entrance Test-IUET 2022
  • Jain Entrance Test-Jain Entrance Test 2022
  • Aliah University Admission Test-AUAT 2022
  • Dibrugarh University Entrance Exam-Dibrugarh University Entrance Exam 2022

Is career in Economics good choice for me?

Should I become a Economist? not sure. Take 20 Min free career test to find out are you fit for career in Economics.Check career suitability for Economics

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