Career in Economics
What is it?
Economics is the study of production, distribution processes and the most effective means of utilizing available resources.
Economists involve in analysis of issues related to growth and development, welfare and policy formulation, and assess their long and short term significance for the country.
Majorly there are two fields of study in economics:
- Microeconomics-Study of economics at individual, group or company level.
- Macroeconomics-Study of national economy as a whole. GDP, Unemployment etc. are studied under this.
Activities they do?
- Develop mathematical models to explain and interpret business cycles, inflation, effects of tax policies etc.
- Apply econometrics for analysis and prediction of all economic activities
- Make decisions in relation to general business conditions
- Study national and international trade policies, governmental regulations and directives
- Develop monetary policies and predict financial activity
- Devise techniques for regulation of lending, fixing interest and discount rate
Areas they Work?
- Financial Consultancy firms
- Indian Economic Services
- World Bank, Asian Development Bank, IMF etc.
- Aid agencies, Reserve Bank of India, PSUs
- Advisors to Government and Industry
- MNCs, BPOs, KPOs, Media
A UG/PG/Ph.D in Economics may be pursued.
An economist earns around 6-8 lacs per annum on an average.
- Lectures 0
- Quizzes 0
- Duration 50 hours
- Skill level All levels
- Language English
- Students 0
- Assessments Yes