Thursday, February 2, 2023

Things to know before joining the master of arts in economics

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After completing your bachelor’s degree in Economics, the most crucial decision is whether to join the master course or another course. Most students need clarification because of the difficulty level of completing the course with good scores. The master of arts in economics syllabus involves many important concepts and theories, including econometrics, Macroeconomic Theory, Consumer behavior theory, etc., to elaborate the deep insight into the subject. This post will give you a deeper insight into the MA course in Economics that will help you to make a decision to pursue the master’s degree. 

What is Masters of arts in Economics? 

The Master of Arts in economics is basically 2 years of post-graduation degree that involves different branches of Economics and provides a deeper understanding of the nuances of economic development. This course covers topics like elementary statistics, monetary economics, international trade, etc., are covered. Moreover, a student will also learn how production and consumption occur in the markets. This master of arts in economics syllabus allows students to get fine knowledge about economics and find great career opportunities to contribute in the private and government sectors. An Economics master’s degree holder can choose career options from Banking, labor markets, financial institutions, and others. 

What’s the eligibility to join the master of arts in economics?

If you have completed your bachelor’s degree in Economics with the minimum required marks by the University, then you are eligible to pursue the course. For instance, BSC Economics or BA Economics is essential to pursue the course. 

What’s the syllabus for a master of arts in economics?

Before understanding the master of arts in economics syllabus, you must know that the course will take 2 years as per the UGC guidelines. Therefore, you must go through 4 semesters and some internal exams per the University. The first year covers some of the basic theories and concepts, including;

  • Microeconomics Theory and Analysis
  • Macroeconomics Theory and Analysis
  • Indian Economic Development
  • Fundamentals of Information Technology
  • Fundamental of Research
  • Mathematics for Economists
  • Research Methodology
  • International Finance
  • Others

The second year of an MA in Economics covers some important topics like;

  • International Economics
  • Monetary Theory and Policy
  • Environmental Economics
  • Public Economics
  • Generic Elective 
  • Economics of Development
  • Dissertation
  • Others

After understating the master of arts in economics syllabus, you must have gotten clarity over joining the course. Now, let’s move to understanding the future scope of an MA in Economics. 

What is the Future Scope of an MA in Economics?

As the academic journey never ends, you can continue to learn more and fulfill your desire by pursuing a Ph.D. degree in Economics or any related research subject. You can enhance your research studies by joining a Ph.D. degree so that you can get a deeper understanding of the specialties in the research topic or subject. If you want to continue your further education after completing MA in economics, then it would be beneficial to acquire more knowledge ad get a more suitable job with a high-paying scale. Here is the list of courses that you can join after completing your master of arts in Economics. 

  • MPhil in Economics
  • Ph.D. in Economics
  • Ph.D. in Business Economics
  • Ph.D. in Finance
  • Ph.D. in Agriculture Economics

What are the job prospects and career opportunities after completing MA in Economics? 

You can expect to get numerous job prospects in both private and government sectors after completing a Master of Arts in economics. This subject is always a popular career field for a long, and many successful people have benefited from its vast knowledge. Here is the list of key career prospects you can choose after completing the course.

  • Data Analyst
  • Research Analyst
  • Project Manager
  • Economist
  • Policy Researcher
  • Financial Journalist
  • Credit Officer-Retail
  • Strategy Analyst
  • Policy Analyst
  • Stock Broker
  • Risk Analyst
  • Lecturer or professor
  • Marketing Consultant
  • Risk Manager
  • Trade Analyst
  • Investment Analyst
  • Director of Operations
  • Research Associate

The employment areas to look after completing the course

After knowing the key career prospects or job opportunities for a master of arts in economics, you must understand some important employment areas where you can make your place that is listed out below.

  • Telecommunication sector
  • Healthcare sector
  • Government Organisations
  • Environmental sectors
  • Banking and Finance sector
  • NGOs
  • Research Institutes
  • Private Companies
  • Academia
  • Insurance sector

The top recruiters of Masters of Arts in Economics

Many governments and private sectors look for employees with the criteria of a Master of Arts in Economics. Here is the list of top recruiters for Masters of Arts in Economics.

  • Infosys
  • Zocdoc, Inc.
  • Reserve Bank of India
  • Department of Economic Affairs
  • Rail India Technical and Economic Services
  • Directorate of Economics and Statistics, Manipur
  • Buhler India Pvt Ltd
  • Indian Statistical Universities
  • Central Bank of India
  • Dell, Inc.
  • HSBC
  • Accenture
  • Others.

Now, you must have received clarification over choosing the master of arts in Economics by looking after its syllabus, job prospects, employment areas, and top recruiters. Thus, choose the right University to explore more opportunities for your career.

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