Economics is essentially in the form of social science which analyzes the consumption and distribution of goods, production and services. The field is very vast and is not restricted to just finance, business and government; but to education, war, religion, crime, family, health, politics, social institutions and science, as well.

Economics mainly explains how agents interact in economics and how economic works. Economic analysis has been applied all over the society as economic forces have a huge impact on our daily lives.

The study of economics includes:-


  • Practical knowledge of auditing and financial accounting.
  • Insights into the functioning of economies
  • Practical knowledge company law and income tax


Objectives of studying economics :-


  • Solving national and international problems
  • Developing skills for contructive utilization of economic knowledge
  • Learning workings of the economy
  • Preparing for a career in economics or further studies
  • Developing research and analytical skills

Basic Eligibility



For admission in a bachelor’s degree, the candidate must have passed the Higher Secondary School Certificate (Std.XII) examination from a recognized board.



For joining a master's degree in economics a candidate must have completed his/her graduation in any stream. the duration for master's degree is 2 years.


Some of its specialized fields are: -


  • Agricultural Economics
  • Business Economics
  • Rural economics and Rural Development
  • Industrial Economics
  • International Economics
  • Labor Economics
  • Natural Resource Economics
  • Development Economics
  • Econometrics
  • Financial Economics
  • Welfare Economics

Job Prospects

Economics continues to be ranked among the most popular majors chosen by the majority of students. Due to the widespread use of economics in various sectors, graduates are employed in a range of posts which may, or may not, be related to the discipline they studied. They work in manufacturing, transport, communications, banking, insurance, investment and retailing industries, as well as in government agencies, consulting and charitable organizations.

In addition to the economic consulting work in both the private and public sectors, employment prospects in sectors such as government jobs, journalism, administration, sales, finance, investment banking, and venture capital seem quite bright for economic graduates. Various international organizations like the World Bank and the International Labor Organization offer ample job opportunities to well-known economists.


Pay Package :-

In the age of globalization and liberalization economists are supposed to get good returns from their jobs whether in a private or public sector. In government sectors economists are getting Rs. 10,000 to 12,000 per month as assistants while a experienced and seniors have a average salary of  Rs. 25,000 per month.

In colleges and universities, economics teachers are earning somewhere in between Rs. 12,000 to 25,000 per month depending on their seniority and private sectors. In private sector remuneration are even more higher. Economic consultants are also earning better returns depending upon the number of clients they own.

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