Master of Arts in Economics is a two-year postgraduate degree separated into four semesters. MA Economics covers all areas of economics in society, including macroeconomics and microeconomics. Economics is concerned with production and consumption, as well as changes in market supply and demand. Economists are considered very important, as they are responsible for identifying the ongoing structural changes in the market as well as dealing with the stability and national security of an economy. To be eligible to take this course, one must have a bachelor’s degree in economics or a related discipline with a minimum of 50%. Banking, academic and organizational, government, and investment industries are all viable job opportunities for these graduates.
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MA in Economics Course Highlight
| Degree | Master |
| Full Form | Master of Arts |
| Admission Process | Entrance and Merit-based |
| Eligibility Criteria | A minimum of 50% marks in graduation course from a recognized university |
| Average Course Fee | INR 10000 to INR 50000 |
| Duration | 2 Years |
| Average Starting Salary | INR 5-7 Lakhs |
| Job Roles | Professional Economist, Data Analyst, Equity Analyst, Financial Planner, Professional Economist, etc. |
Why Pursue an MA in Economics?
An MA in Economics opens up a plethora of opportunities for individuals looking to excel in the field of economics. Here are some compelling reasons to pursue this advanced degree:
- Specialized Knowledge: An MA in Economics equips students with in-depth knowledge and expertise in economic theories, policies, and practices.
- Career Advancement: Graduates with an MA in Economics have a competitive edge in the job market, with opportunities in government, financial institutions, consulting firms, and more.
- Analytical Skills: The program hones analytical and critical thinking skills, essential for conducting research and making informed decisions.
- Networking: Students have the chance to connect with industry professionals, professors, and peers, expanding their professional network.
- Research Opportunities: An MA in Economics offers research opportunities to delve deeper into specific economic topics and contribute to the field’s advancement.
What is the MA in Economics Admission Process in India?
The first step is to research various universities offering this program. Look for institutions renowned for their economics departments. Next, check the admission criteria, which often include a bachelor’s degree in economics or a related field. Prepare and gather all necessary documents such as transcripts, recommendation letters, and statements of purpose. Once you have all the documents ready, proceed to fill out the application form accurately. Pay attention to deadlines as missing them can affect your chances. Some universities may require you to appear for an entrance exam or an interview as part of the selection process. Prepare diligently for these assessments to showcase your knowledge and skills in economics. After submitting your application, stay updated on the admission status. If selected, follow the further instructions provided by the university.
What is the MA in Economics Eligibility?
You need to meet specific criteria to be eligible for an MA in Economics program. Here are the key eligibility requirements:
- Education Background: Prospective candidates should typically have a bachelor’s degree in economics or a related field such as finance, mathematics, or statistics.
- Minimum GPA Requirement: Universities often require a minimum GPA, usually around 3.0 on a 4.0 scale, to ensure academic competence.
- Entrance Exams: Many institutions may require applicants to take standardized tests like the GRE (Graduate Record Examination) to assess their readiness for the program.
- Work Experience: While not always mandatory, some universities may prefer candidates with relevant work experience in the field of economics or a related industry.
- Letters of Recommendation: Applicants are usually required to submit letters of recommendation from professors or employers to support their application.
Top MA in Economics Colleges in India
Here are ten top colleges that offer this program with affordable average fees:
| Institute of Astrology, Bharatiya Vidya Bhavan, New Delhi | Indian Council of Astrological Sciences, Chennai |
| Bharatiya Vidya Bhavan, Mumbai | Future Point, New Delhi |
| All India Federation of Astrologers’ Societies, Noida | Indian College of Astrology & Astronomy, Noida |
| Vishwa Jyotish Vidyapith, Haryana | Raman and Rajesh Astrologers’ Foundation, Bangalore |
| Astrological Research Project, Kolkata | Institute of Vedic Astrology, Indore |
What is the MA in Economics Course Syllabus?
The MA in Economics syllabus is designed to equip students with a deep understanding of economic theories and their real-world applications. Let’s take a look at the semester-wise breakdown of subjects that are typically taught in this program:
| Semester One | Semester Two |
|---|---|
| Microeconomics | Development Economics |
| Macroeconomics | Financial Economics |
| Quantitative Techniques in Economics | Research Methodology |
| Economic History | Elective Course |
| Semester Three | Semester Four |
|---|---|
| International Economics | Thesis/Internship |
| Public Economics | Elective Course |
| Econometrics | |
| Elective Course |
MA in Economics: Recommended Books
| Name of the Book | Name of the Author |
|---|---|
| Microeconomics | Hal R. Varian |
| Macroeconomics | N. Gregory Mankiw |
| Capital in the Twenty-First Century | Thomas Piketty |
| Freakonomics | Steven D. Levitt and Stephen J. Dubner |
| The Wealth of Nations | Adam Smith |
MA in Economics Jobs and Salary in India
| Job Role | Average Salary (per year) |
|---|---|
| Economist | INR 6-9 lakhs |
| Financial Analyst | INR 4-6 lakhs |
| Policy Analyst | INR 7-10 lakhs |
| Research Analyst | INR 3-5 lakhs |
| Data Analyst | INR 4-7 lakhs |
| Consultant | INR 8-12 lakhs |
| Financial Planner | INR 4-8 lakhs |
| Budget Analyst | INR 5-7 lakhs |
| Market Research Analyst | INR 3-6 lakhs |
| Investment Analyst | INR 6-9 lakhs |
MA in Economics: FAQs with answers
Is an MA in Economics a good investment in your career?
Absolutely. An MA in Economics opens doors to a wide range of career opportunities in finance, consulting, government, and academia.
What are the admission requirements for an MA in Economics program?
Admission requirements typically include a bachelor’s degree, GRE scores, letters of recommendation, and a statement of purpose outlining your academic and career goals.
How long does it take to complete an MA in Economics program?
Most MA in Economics programs can be completed in 1-2 years, depending on whether you are studying full-time or part-time.
What skills can you gain from an MA in Economics?
An MA in Economics equips you with analytical, critical thinking, and quantitative skills essential for roles in data analysis, policy-making, and research.
Can I pursue a Ph.D. after completing an MA in Economics?
Yes, an MA in Economics can serve as a strong foundation for further academic pursuits like a Ph.D. in Economics or related fields.
Is financial aid available for MA in Economics students?
Many universities offer scholarships, assistantships, and grants to support students pursuing an MA in Economics.
