Economics is a branch of
Arts/Science that deals with the production, distribution, exchange and
consumption of various goods and services within a particular country.
Individuals, groups of people, business concerns or by governments, carry on
these activities. The study of economics is aimed at enabling such
individuals to carry out activities related to goods and services in such a
manner that optimum benefit is obtained from the activity.
Economics principles are applied to the production processes, distribution
processes, consumption patterns and human behaviour. The aim is to devise
the most effective way of functioning, taking all relevant factors into
consideration. Different countries have different ways of functioning;
therefore the economy may accordingly be capitalistic, communist or
socialist. The economists of a country function as per the guidelines of the
economic system prevailing in that country.
The study of economics starts from the school level. In school education the
students are taught fundamental principles of economics and its application
in the day to day life. But the study becomes even tough at higher secondary
and degree level where one can opt for it as a subject of his/her study.
With a specialization in economics at post graduation level, one can find
ample opportunities for career growth and development.
Courses and Eligibility
Economics very often forms a part of the curriculum in many Indian schools
right from class IX itself. An early exposure to the language helps students
determine whether they have the natural aptitude and the inclination for the
subject. To study Economics (with Honours) in any of the Indian colleges,
one must secure a fairly high percentage in the results of (particularly
economics) classes Xth and XIIth. One can go for a specialisation in the
subject at post graduation level and then pursue further specialisation in
the form of a Ph.D.
Economics graduates find ample job opportunities both in private and public
sector. To begin with, government enterprises, public undertakings, banks,
finance and investment firms, business journals and newspapers and the
private sector throw up many avenues of employment in various departments.
The Indian Economics Services are also an excellent option open to those who
want to join government service. Officers are recruited through examinations
conducted by the Union Public Service Commission. To be eligible for this
examination, one needs to be a graduate and in the age group of 21-28 years.
The examination is held in the month of September every year. The
announcement for the same is made in the month of March of the same year.
The written examination has papers in English, General Studies, General
Economics and Indian Economics. The written examination is followed by an
Another highly lucrative avenue open to those looking for government
employment is the Reserve Bank of India. Written tests are conducted by the
RBI for the purpose. Postgraduates in the age group 21-28 are eligible for
the examination. Those who successfully clear the examination are finally
selected through personal interviews.
A postgraduate or a PhD holder in Economics can also take up teaching as a
career option. There are large numbers of colleges in India appointing these
individuals as faculty member in their economics dept. on full time/part
time basis. There are offered hand some pay package with other perks and
There are large number of colleges and universities in India offering
Bachelors and masters degree programs in economics. The famous institutes
for economics in India are listed below.
Delhi School of Economics(University of Delhi)
Delhi 110007, India
Phone: (011) 2766 7540, (011) 2766 7725 Ext. 1531
Fax: +91-11-2766 7159
Presidency College, Kolkata
Course: B.Sc Economics
Jawaharlal Nehru University New Delhi - 110067
University of Delhi, South Campus, New Delhi
University of Bombay, Bombay - 600032
University of Agricultural Science, Bangalore
Indian Statistical Institute, Calcutta - 700035
SRCC, New Delhi
St. Stephen College (DU), New Delhi
Ravenshaw University, Cuttack, Orissa