Master of Arts (MA) Economics - Dr CV Raman University, Vaishali

  • Years 2 Years
  • Type Course Post Graduate
  • stream Arts
  • Delivery Mode
Written By universitykart team | Last updated date May, 13, 2024

About Master of Arts in Economics Course: Admission Process, Scope, Eligibility Criteria, Fee, Benefits, Career, Scope, Job Opportunities, Top Colleges

A Master of Economics or Master of Arts in Economics is an advanced degree in economics. Economics includes a comprehensive and in-depth study of economics as a discipline at an advanced level. The Master of Arts in Economics postgraduate program involves studying the fundamentals of economic theory, microeconomics, macroeconomics, comparative economic systems, monetary and banking systems, international economics, methods of quantitative analysis, applications in specific sectors, public policy issues, etc. The Master of Arts in Economics lasts two years and the course is divided into four semesters.

MA in Economics Course Highlights

Particulars Values
Course Name Master Of Arts in Economics
Course Level Post Graduate (PG)
Course Duration 2 Years
Examination Type Semester Based
Eligibility Criteria BA from a Recognized University or any other Degree with required Minimum aggregate marks
Admission Process Merit-Based/ Entrance Based
Specialization Economics
Internship Yes
Entrance Exams BHU PET, JNUEE, CUEE, AUCET, DUET, MSE
Course Fee INR 50,000 to INR 2 LPA
Average Annual Salary INR 5-7 LPA
Top Recruiting Companies ICICI Bank, RBI, Citi Bank, Kotak, etc.
Job Profiles Professional Economist, Data Analyst, Equity Analyst, Financial Planner, Professional Economist, Data Analyst, Research Analyst, Teacher/ Professor, HR manager, Business Analyst, etc.

Why Study MA in Economics?

A Master in Economics can be both enjoyable and useful. The Master in Economics provides students with a solid understanding of the subject and emphasizes the importance of growing needs and limited resources to meet those needs. A Master's degree in economics can lead to a wider range of high-paying jobs than other bachelor's degrees. Graduates of the Master in Economics can work in the banking, scientific and organizational, government and investment sectors. The completion of the master’s degree in economics in postgraduate study also opens up the possibility of doing a doctorate in the same subject.

Economists are essential because they are responsible for identifying the structural changes occurring in the market, as well as for economic stability and national security. An economics master’s program is also a great way to approach Indian business service qualifications. Applicants who complete an economics master's degree with a good percentage have a good chance of ending up as economists in state and commercial companies.

MA in Economics Eligibility Criteria

The Eligibility Criteria for admission to the Masters in Economics are based on entrance exams or a performance-related selection. However, applicants interested in pursuing a Masters in Economics must meet the eligibility criteria listed below for a Masters in Economics:

The prerequisite is a completed economics education or a comparable education.

A minimum percentage of 50% is mandatory at Masters level.

Master's in Economics Admission Process

To decide on a Master's in Economics, students should visit university websites and familiarize themselves with the course details. Students can use the course app both offline and online. In the offline mode, the student has to go to the university's Registrar's Office, pick up the form, fill in the data and pay the enrollment fee. Applying online for a Masters in Economics requires students to download a form, fill in the details and make an online payment. Both methods require the submission of valid documents for the verification process.

MA in Economics Skills Required

As the MA in Economics is one of the most dynamic degree programs available, academic reading alone is not enough to set it apart. Students who choose to pursue a master’s degree are expected to develop a variety of skills. The master's program helps students to develop a niche and be successful in their professional fields. Here are some of the skills that will make you a suitable Master of Economics graduate:

Numerical skills

Problem-Solving Approach

Expert in one technical domain

Cost-cutting skills

Managerial abilities

Communication skills

Interpersonal approach

Master of Economics in Economics Fee Structure

The Master of Economics fees charged by an institution depend on various factors. Some of the determining factors that influence the fee structure are institutional facilities, infrastructure, faculty, internship opportunities, etc. The average annual course fee is INR 50,000 - LPA 2. Below is a list of MA Economics Colleges in India and their fee structure:

Name of College Average Annual Fees
Bharath Institute of Higher Education, Chennai INR 50,000 PA
United University, Allahabad INR 85,000 PA
Rayat Bahra University, Mohali INR 1 LPA
Krupanidhi Degree College, Bengaluru INR 1.9 LPA

Top Colleges Providing MA in Economics

Name of College Average Annual Fee (INR) Location
Ramjas College INR 14,300 New Delhi
Miranda House College INR 19,030 New Delhi
Symbiosis College of Arts and Commerce INR 26,000 Pune
Christ University INR 60,000 Bangalore

MA in Economics Jobs and Placements

The MA Economics course offers students a comprehensive and in-depth study of advanced economic theory. There are different jobs for candidates in different fields and organizations. Almost every industry in the world needs a candidate with an economics background who deals with various financial and monetary matters, e.g. B. Stockbroker, Business Analyst, Financial Analyst, Finance Manager, etc.

Private Jobs

The private sector has many opportunities to provide graduates with a master's degree in economics. With the corporate sector heavily dependent on finance and economics leadership, the scope of the Masters in Economics has only grown in recent years. At the end of their studies, students can choose between various economic master’s theses directly via the employment office or on their initiative. The average salary after completing a Master's in Economics is INR 6 LPA.

Here are some of the names in the private sector that offer a nice Master of Economics salary:

Top Recruiters Salary
Project Manager INR 20 LPA
Senior Business Analyst INR 8 LPA
Research Analyst INR 5.4 LPA

Government Jobs

Some of the major government organizations that offer a range of jobs to MA Economics are RBI, Indian Economic Services, BHEL, Department of Commerce, Department of Railways and Defense Sector. The Average Salary after a Master's in Economics is INR 6 LPA. Here are some government positions for MA Economics and the salaries offered:

Top Government Companies Salary per month
Economist INR 8 LPA
Administrative Officer INR 7.4 LPA
RBI Grade B Officer  INR 5 LPA

Abroad Jobs

Top International Recruiting Companies that hire MA in Economics graduates are:

• Infosys

• HSBC

• HDFC

• Axis Bank

• Accenture

• Hewlett Packard

• Dell

• State Bank of India

• Reserve Bank of India

• Tata Consultancy Services

MA in Economics Gregudets Job Profiles

Some of the famous expert avenues open to successful graduates of the MA in Economics degree are indexed below with the corresponding salaries provided for the respective positions.

Job Profiles Job Description Average Salary in INR
Professional Economist Professional Economists collect and analyze financial and socioeconomic data, advise businesses and governments on economic decisions, and develop models for economic forecasting. INR 13,50,000
Equity Analyst Equity analysts use their expert knowledge of stocks and bonds to provide financial guidance to individual investors, brokers, and investment consultants. INR 4,20,000
Financial Planner A financial planner, or financial advisor, works directly with clients and businesses to help them navigate the world of personal finance. INR 3,50,000
Business Analyst A Business Analyst is a professional who works closely with stakeholders to identify goals, develop best practices for data collection, and analyze current processes to determine what can be improved to achieve their desired outcome. INR 6,80,000

MA in Economics Scope

A master's degree in economics is widely available as every company has a finance department that needs qualified graduates to effectively manage a company's economy and finances. Marketing, finance, the functioning of the market and the general functioning of the economy are strongly linked to the master's program in economics. This means that a master in Economics with a good percentage and a high understanding of economics has a good chance of getting positions such as economist, research analyst, teacher, etc. in the public and commercial sectors.

MA in Economics Career Prospects

A PhD in Economics or another related research topic after earning a Masters in Economics is one of the best options if you have the desire, knowledge and potential to learn more. Top universities like Indian Institutes of Technology (IIT), Indian Institutes of Management (IIM), and others offer PhD programs. Continuing education in the master's program in economics is technically advantageous and can help you find a well-paid job. Master of Economics students can also pursue a master's degree and conduct research by pursuing a Ph.D. in economics or a similar discipline.

FAQS Related to MA in Economics

1. What is the scope of an MA in Economics?

Answer: An MA in Economics equips individuals with analytical skills to understand and address complex economic issues, spanning areas such as finance, public policy, development, and more.

2. What career opportunities does an MA in Economics offer?

Answer: Graduates can pursue roles in various sectors including banking, consulting, government agencies, research institutions, international organizations, and academia.

3. How long does it typically take to complete an MA in Economics program?

Answer: Most MA programs in Economics require 1-2 years of full-time study, though this can vary depending on the institution and whether a thesis is required.

4. What prerequisites are needed for admission into an MA in Economics program?

Answer: Generally, applicants should have a bachelor's degree in Economics or a related field, along with strong quantitative and analytical skills. Some programs may also require prerequisite coursework in economics, mathematics, or statistics.

5. Can I pursue an MA in Economics if my undergraduate degree is in a different field?

Answer: Yes, many programs accept students from diverse academic backgrounds, though they may require additional coursework to ensure proficiency in economics and related subjects.

6. What is the difference between an MA in Economics and an MBA?

Answer: While both degrees focus on business and economic principles, an MA in Economics emphasizes theoretical and analytical aspects, whereas an MBA typically has a more practical, managerial focus.

7. Are there specialization options within an MA in Economics program?

Answer: Yes, many programs offer specializations such as financial economics, international economics, development economics, econometrics, and more, allowing students to tailor their studies to their interests and career goals.

8. How does an MA in Economics prepare students for further academic pursuits, such as a PhD?

Answer: The rigorous coursework and research experience gained during an MA program provide a solid foundation for doctoral studies in economics or related fields.

9. What research opportunities are available during an MA in Economics program?

Answer: Students often have the chance to engage in independent research projects, work as research assistants for faculty members, or participate in research seminars and conferences.

10. How can an MA in Economics contribute to addressing real-world economic challenges?

Answer: By providing graduates with analytical tools and critical thinking skills, an MA in Economics enables them to contribute to policy-making, economic analysis, and problem-solving in various sectors, helping to tackle pressing economic issues on local, national, and global scales.

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