Choosing the right economics degree program after completing class 12 is crucial for building a successful career in this field. India offers a plethora of esteemed institutions providing top-notch education in economics. This guide delves into the best economics programs available, their admission processes, career prospects, and more. We’ll also explore the advantages, features, and takeaways of pursuing an economics degree in India.
Top 10 Colleges in India for Bachelors in Economics After 12th
- Fergusson College, Pune
- Gokhale Institute of Politics and Economics (GIPE), Pune
- Symbiosis School of Economics, Pune – SET
- Narsee Monjee Institute of Management Studies (NMIMS) – NPAT
- SP Jain Institute of Management and Research
- BASE, Bengaluru – CUET
- Delhi University – CUET
- Azim Premji University
- Ahmedabad University
- O.P. Jindal Global University – JSAT
- Christ University – CU-CUET
- Madras Christian College
- Loyola College, Chennai
- Shiv Nadar University, NCR
- Presidency College, Chennai
- Madras School of Economics
Admission Process for Bachelor’s in Economics Courses
The admission process for bachelor’s programs in economics in India generally follows these steps:
- Eligibility Criteria: Students must have completed their class 12th from a recognized board with a strong academic record.
- Merit-Based Admissions: Many institutions admit students based on their class 12th marks.
- Entrance Exams and Interviews: Some universities conduct their own entrance exams and interviews to select candidates.
Why Choose Economics as a Career?
Economics is an evergreen subject with immense demand due to its applicability in everyday life and its role in shaping policies and decisions at both national and international levels. According to the US Bureau of Labor Statistics, the job market for economists is expected to grow by about 6% between 2018 and 2028. Here are a few reasons why pursuing a career in economics is a wise choice:
- High Demand: Economists are in high demand globally, especially in technology-driven policy-making.
- Versatile Skillset: The study of economics equips students with analytical, critical thinking, and data interpretation skills.
- Diverse Career Opportunities: From government roles to private sector jobs, the opportunities are vast and varied.
Essential Skills for a Career in Economics
To thrive in an economics career, the following skills are essential:
- Mathematical Proficiency: Strong math skills are crucial.
- Analytical Thinking: Ability to analyze data and think critically.
- Effective Communication: Proficiency in both written and verbal communication.
- Independence and Motivation: Ability to work independently and stay motivated.
Career Opportunities in Economics
Economics offers a wide range of career options, including:
- Data Analyst: Analyzing data and interpreting complex datasets.
- Auditor: Examining financial records and providing assurance to investors and regulators.
- Statistician: Collecting and interpreting quantitative data in various sectors.
- Risk Manager: Managing risks in technology, finance, and other fields.
- Stockbroker: Acting as a mediator between clients and investments.
- Government Economist: Working in various government departments like RBI, NITI Aayog, and more.
- Financial Risk Analyst: Analyzing financial risks and providing consulting services.
- Actuary: Assessing risk in insurance and finance.
- Indian Economic Services (IES): Prestigious roles within government services.
- Agricultural Economist: Working with agricultural companies to analyze economic data.
Popular Economics Degrees in India
BA in Economics
A BA in Economics is an excellent choice for students interested in understanding the economy’s workings, decision-making processes, and policy impacts. This degree often covers microeconomics, macroeconomics, and econometrics, providing a solid foundation for further studies or career opportunities in economics.
BSc in Economics
A BSc in Economics focuses more on the quantitative aspects of economics, including mathematical models and statistical techniques. This degree is suitable for students who enjoy numbers and want to delve deeper into economic theories and applications.
Bachelor of Economics
This degree is similar to a BA in Economics but may include more specialized courses and electives. It provides a comprehensive understanding of economic principles and prepares students for diverse career paths.
Importance and Impact of Economics
Economics plays a vital role in our lives, from everyday decisions to global policies. Understanding economic principles helps individuals and policymakers make informed decisions that impact millions. By studying economics, students can contribute to a thriving economy and make a difference in various sectors.
Detailed Overview of Top Economics Colleges in India
1. Fergusson College, Pune
Program Highlights:
- Comprehensive curriculum covering various economic theories and applications.
- Emphasis on research and practical knowledge.
- Opportunities for internships and projects.
Admission Process:
- Merit-based admissions based on class 12th marks.
- Interviews and entrance exams may be conducted.
2. Gokhale Institute of Politics and Economics (GIPE), Pune
Program Highlights:
- Focus on quantitative economics and policy analysis.
- Strong emphasis on research and data analysis.
- Collaboration with various international institutions.
Admission Process:
- Entrance exams and interviews.
- Merit-based selection.
3. Symbiosis School of Economics, Pune
Program Highlights:
- Interdisciplinary curriculum combining economics with other social sciences.
- Emphasis on experiential learning and internships.
- Strong industry connections for placements.
Admission Process:
- Entrance exam (SET) followed by an interview.
- Merit-based selection.
4. Narsee Monjee Institute of Management Studies (NMIMS)
Program Highlights:
- Industry-oriented curriculum with a focus on practical applications.
- Opportunities for internships and live projects.
- Strong alumni network and placement support.
Admission Process:
- Entrance exam (NPAT) and interview.
- Merit-based selection.
5. SP Jain Institute of Management and Research
Program Highlights:
- Comprehensive curriculum with a focus on global economics.
- Emphasis on research and practical knowledge.
- Opportunities for internships and projects.
Admission Process:
- Entrance exams and interviews.
- Merit-based selection.
6. BASE, Bengaluru
Program Highlights:
- Focus on quantitative economics and policy analysis.
- Strong emphasis on research and data analysis.
- Collaboration with various international institutions.
Admission Process:
- Entrance exams and interviews.
- Merit-based selection.
7. Delhi University
Program Highlights:
- Comprehensive curriculum covering various economic theories and applications.
- Emphasis on research and practical knowledge.
- Opportunities for internships and projects.
Admission Process:
- Merit-based admissions based on class 12th marks.
- Interviews and entrance exams may be conducted.
8. Azim Premji University
Program Highlights:
- Interdisciplinary curriculum combining economics with other social sciences.
- Emphasis on experiential learning and internships.
- Strong industry connections for placements.
Admission Process:
- Entrance exam followed by an interview.
- Merit-based selection.
9. Ahmedabad University
Program Highlights:
- Industry-oriented curriculum with a focus on practical applications.
- Opportunities for internships and live projects.
- Strong alumni network and placement support.
Admission Process:
- Entrance exam and interview.
- Merit-based selection.
10. O.P. Jindal Global University
Program Highlights:
- Comprehensive curriculum with a focus on global economics.
- Emphasis on research and practical knowledge.
- Opportunities for internships and projects.
Admission Process:
- Entrance exams and interviews.
- Merit-based selection.
11. Christ University
Program Highlights:
- Comprehensive curriculum covering various economic theories and applications.
- Emphasis on research and practical knowledge.
- Opportunities for internships and projects.
Admission Process:
- Merit-based admissions based on class 12th marks.
- Interviews and entrance exams may be conducted.
12. Madras Christian College
Program Highlights:
- Interdisciplinary curriculum combining economics with other social sciences.
- Emphasis on experiential learning and internships.
- Strong industry connections for placements.
Admission Process:
- Entrance exam followed by an interview.
- Merit-based selection.
13. Loyola College, Chennai
Program Highlights:
- Industry-oriented curriculum with a focus on practical applications.
- Opportunities for internships and live projects.
- Strong alumni network and placement support.
Admission Process:
- Entrance exam and interview.
- Merit-based selection.
14. Shiv Nadar University, NCR
Program Highlights:
- Comprehensive curriculum with a focus on global economics.
- Emphasis on research and practical knowledge.
- Opportunities for internships and projects.
Admission Process:
- Entrance exams and interviews.
- Merit-based selection.
15. Presidency College, Chennai
Program Highlights:
- Comprehensive curriculum covering various economic theories and applications.
- Emphasis on research and practical knowledge.
- Opportunities for internships and projects.
Admission Process:
- Merit-based admissions based on class 12th marks.
- Interviews and entrance exams may be conducted.
16. Madras School of Economics
Program Highlights:
- Interdisciplinary curriculum combining economics with other social sciences.
- Emphasis on experiential learning and internships.
- Strong industry connections for placements.
Admission Process:
- Entrance exam followed by an interview.
- Merit-based selection.
Conclusion
Pursuing an economics degree in India opens up a world of opportunities. With top-notch institutions offering comprehensive programs, students can build a strong foundation in economics
and explore diverse career paths. Whether you aim to work in the public sector, private sector, or academia, an economics degree equips you with the knowledge and skills to succeed in a dynamic and ever-evolving world.