Economics
Economics is the study of production and allocation of resources, goods and services by interpreting collected data and analyzing the trends. Economist concentrates on the role and interactions of economic factors and how the economies work. An Economist is a specialist who scrutinizes the correlation amidst a society's resources and its production or output. Economists study organizations varying from small, local areas to the whole nation and even the global economy.
Role Desciption
Economists are responsible for analyzing and collecting financial, political, and socioeconomic data. They conduct surveys using various sampling methods, examine various fields including ; education, energy, healthcare, politics, healthcare, etc., making use of the records and historical data and reviewing the ongoing market trends. They also guide businesses and government on economic decisions, discuss with the clients the effectiveness of political policies, stocks, or services by studying the economic consequence of laws and regulations. It is also their duty to strengthen economic and statistical models for budgetary forecasting. They communicate data in the form of technical and non-technical reports, and presentations and actively contribute to economic journals or publications.
Eligibility
Route to Economics Profession
- 10 + 2 in any Stream with / without Economics as a subject (mathematics is compulsory)
- B.A.(H) Economics BBA-FIA/ BMS for 3 years/B.A. (H) in Business Economics or Graduation or Integrated Program in Economics for 5 years
- Masters in field you want to do specialization in (International Eco.)/Post Graduation in Management/ Any Other Related Discipline for 2-3 years
Significant Statistics
- Math is required in 10+2 for admission to any college or university
- Minimum 50% mandatory in 10+2 in English
Pros/Cons
Pros
- Economists can work in various industries at high packages
- A well learned economists enjoys great reputation in Society
- Economists are well-versed with the complexities of the world
Cons
- This profession demands a lot of learning, consistency, and study
Leading Professions
View All
Banking
These professionals are responsible for studying the interest rates to analyze the effect of the same on banking system and they provide services and advise to customers and clients of the banks.
6.0LPA
Micro-economists in MNCs
Many corporations hire micro-economists to project demand and sales so that the profits can be maximized.
18.0LPA
Financial Consultant
Economists working as Financial Consultants are responsible for conducting micro and macro economic studies and making predictions on the basis of information gathered through statistics, database and trends. These consultants usually work for multiple clients, or organizations.
8.0LPA
Public Sector Economist
These professionals keep the finances of the government under control. They are responsible for keeping a check on the involvement of government in the economy like taxation, surpluses in budget, deficits and policies for welfare.
15.0LPA
Insurance and Accounting
Insurance and Accountancy professionals evaluate the financial situation of an organization, business, or person.
4.0LPA
Economic Research Firms
Economists in research firms study and analyze various economic issues and then analyze and these forecasts are published in newspapers or other articles.
16.0LPA
Actuarial Scientist
Economists can also work as Actuaries but for this they have to qualify the actuary exams.
10.0LPA
Financial Analyst
Financial analysts assess investment opportunities, analyze financial data, and provide recommendations to individuals, corporations, or financial institutions.
8.0LPA
CAREER VIDEOS
Career Path
Route 1
4 Steps
Skills
Recruitment Area
NGOs ,
Government Agencies ,
Universities and Colleges ,
insurance companies ,
Financial Institues ,
Stock Exchange offices ,
consulting firms ,
sales and business ,
investment firms ,
newspapers and journals ,
public undertakings .
Recruiters
Indian Economics Services (IES) ,
Reserve Bank of India ,
The Economic Times ,
India Today ,
The Hindu ,
The Tribune ,
Times of India ,
Hindustan Times .
Explore Colleges
Exams & Tests
Interested? Take the next step for this career
Route 1
- 4 Steps
Skills Needed
Exams and Tests
Recruitment Area
NGOs ,
Government Agencies ,
Universities and Colleges ,
insurance companies ,
Financial Institues ,
Stock Exchange offices ,
consulting firms ,
sales and business ,
investment firms ,
newspapers and journals ,
public undertakings .
Recruiters
Indian Economics Services (IES) ,
Reserve Bank of India ,
The Economic Times ,
India Today ,
The Hindu ,
The Tribune ,
Times of India ,
Hindustan Times .
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