[td_block_text_with_title custom_title=”SUMMARY” header_color=”#e88f1b” separator=”” tdc_css=””]Economists study the production and distribution of resources, goods, and services by collecting and analyzing data and researching trends. They provide specialist advice to a range of stakeholders and work across multiple domains. With the rapidly globalizing economic scenario, qualified economists are in huge demand not only in India but also across the world. They analyze all the data they have gathered to assess feasibility, do forecasts of economic trends and make recommendations of ways to improve efficiency. The research and analysis of data is done using a variety of software program, including spreadsheets, statistical analysis, and database management program.[/td_block_text_with_title][td_block_text_with_title custom_title=”WHAT ALL CAN I DO?” header_color=”#e88f1b”][/td_block_text_with_title][td_block_text_with_title custom_title=”CAREER PATH” header_color=”#e88f1b” separator=”” tdc_css=””]
Banking Firms
Economists study interest rates to see their effect on banking systems. They are concerned with advising and providing services for a range of banking clients and consumers.
Multi-National Companies
Many corporations require the skills of micro-economists, like projecting customer demand or product sales, both of the client firm and their competitors to maximize profit. These economists also review new legislation, like minimum wage requirements or tariffs, and how it will affect their client.
Financial Consultancy
Consulting firms involve micro & macroeconomic study and make predictions by gathering many different statistics, compiling large databases & analyzing trends. Financial consultants work for multiple clients instead of just one organization. Up-to-date industry knowledge and awareness of corporate finance is essential in these roles.
Public sector
In the public sector, economists serve to keep governmental finances under control. They look at the government?-?s involvement in the economy, such as taxation, deficits or surpluses in budget, or policies concerning welfare.
Insurance and Accountancy Firms
In the field of accounting one can work across multiple industries, focusing on monitoring the financial situation of an organization, business or individual. One requires strong analytical skills, mathematical proficiency & computational ability in these roles.
Research Firms and Think Tanks
They study and analyze a variety of economic issues. Their analysis and forecasts are frequently published in newspapers and journal articles.
Acturial Sciences
Economists prefer going for Acturial Sciences by clearing the actuary papers. They need to have in-depth knowledge of Econometrics, Financial Economics, Enterprise Risk Management.
| Stream | Graduation | After Graduation | After Post Graduation | |
|---|---|---|---|---|
Path 1 | Clear Class XII in Any Stream with/ without Economics as a subject (mathematics is compulsory) | Pursue B.A.(H) Economics BBA-FIA/ BMS for 3 years | Pursue Masters in field you want to do specialization in (International Eco etc.) | Pursue M.Phil/ PhD/Job |
Path 2 | Clear Class XII in Any Stream with/without Economics as a Subject (Mathematics is compulsory) | Pursue B.A. (H)- Economics/ B.A. (H) in Business Economics/ BBA-FIA/ BMS for 3 years | Pursue Post Graduation in Management/ Any Other Related Discipline for 2-3 years | Pursue Ph.D for 2-3 years/Job |
Path 3 | Clear Class XII in Any Stream With/without Economics as a subject (Mathematics is compulsory) | Graduation + post graduation Pursue M.Sc Integrated Program in Economics for 5 years | – | – |
Important Facts
- Almost every University requires Maths as a mandatory subject in Class XII
- Must have passed class 12th or Senior Secondary Examination with at least 50% marks including English
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- Advise businesses, governments, and individuals on economic issues
- Design policies or make recommendations for solving economic problems
- Write articles for publication in newsletters and academic journals
- Apply theories and trends to benefit different organizations and industries
- Review new legislation, like minimum wage requirements or tariffs
- Provide economic advice to diverse set of stakeholders
- Carry out Research and analysis of past and present economic issues
- Analyze data using understanding of economic relationships to uncover trends
- Prepare reports, tables, and charts that present research results through exhaustive analysis of data
- Interpret and forecast impact of market trends on business/ economy
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