MA Economics

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MA Economics

Economics deals with the study of production, distribution as well as consumption of goods and services. It is one of the most sought-after subjects amongst commerce and social science students and offers lucrative career opportunities in both the public and private sectors. Further, it is also included under the syllabus for various government exams and civil service exams. For those aspiring to explore the basic concepts of economics at an advanced level and soar towards a career in research, MA Economics is a suitable choice. In this blog, we have collated all the quintessential details about MA economics, major subjects, top universities, and career scope. 

Course Name  MA Economics
Full Name  Masters of Arts in Economics 
Level Postgraduate
Duration  1-2 years 
Field Economics and Business
Popular Entrance Exams  TISSNET, CUCET, TS CPGET, GRE, etc
Average Fees INR 50,000 – 5 lakhs per annum (more if opting for study abroad)
Average salary offered  INR 6 lakhs per annum 
Job Prospects  Data Analyst, Economist, Research Analyst, Sr Business Analyst, HR Manager, Analytics Manager, High School Teacher, Business Analyst, Lecturer, Speaker, etc

Also Read: Career in Managerial Economics

What is MA Economics?

MA Economics is a 2-year postgraduate degree that encompasses a detailed study of the nuances of economic development and various branches of economics. Topics like monetary economics, elementary statistics, International trade are thoroughly taught in this course. Further, you will also get to explore how consumption and production including supply-based activities that take place in the markets. A professional degree holder in MA Economics can find lucrative career opportunities to work in both government and private sectors. Banking, financial institutions, labor markets are some of the top working areas graduates can choose from. 

Eligibility Criteria 

There are certain prerequisites that are required to be fulfilled by those wanting to pursue a MA Economics. Take a look at the basic eligibility requirements for this program and its course variants:

  • 10+2 in any stream from a recognised board of education with aggregate marks of at least 50%.
  • You must also have a bachelor’s degree in economics or another relevant field of study like BA Economics or BSc Economics, with the minimum marks required by the university. 
  • A competitive GRE score or any other entrance test, if asked by the university.
  • For those planning to study a master’s degree in Economics abroad, they will be required to provide English Proficiency test scores like IELTS, TOEFL, PTE, etc. as well as a Statement of Purpose (SOP) and Letters of Recommendation (LORs).

Note: These eligibility requirements indicate only general criteria for MA Economics and its related programs. Students are advised to go through their chosen university’s website to know about the program requirements in detail.

To guarantee that they choose the finest applicants, the leading institutions for MA Economics in India and overseas use an admission exam-based selection process. Several private and public institutions use the entrance exam method to verify that students have a practical understanding of the subject matter in addition to academic reading of the course. Some of the most common admission examinations for this degree are listed below:

  1. BHU UET
  2. JNUEE
  3. CUEE
  4. AUCET
  5. DUET
  6. MSE Entrance Exam
  7. GRE
  8. TS CPGET
  9. AUCET
  10. Allahabad PGAT

MA Economics Syllabus

The 2 years course is divided into 4 semesters. Here is the semester wise syllabus of the 2 years course: 

1st Year 

Microeconomics Analysis  Quantitative Methods
International Trade  Statistics and Computer Applications 
Elementary Statistics  International Finance 
Monetary Statistics  Theory of Practicing and Distribution 
Elective 1 Growth and Development of Economics 
International Finance 

2nd Year 

Economics of Growth  Introductory Mathematical Economics 
Public Economics  Selected Problems of the Indian Economy 
Economics of Industry  Economics of Agriculture 
Issues in Indian/Foreign Economy Growth Models in Economics 
Elective- 2 International Finance 
Indian Public Finance 

List of Electives:

  • Economics of Infrastructure 
  • Economics of Insurance 
  • Financial Institutions and Markets 
  • Economics of Gender and Development
  • Demography 1 and 2
  • Labour Economics 
  • Quantitative Economics 

Also Read: Difference Between Micro and Macro Economics

Course Variants

MA economics has various course variants for those wanting to study any specialization of Economics. Here are the popular course variants of a master’s degree in Economics:

Master of Applied Finance and Economics MSc in Financial Economics Master of Business – Economics
Master of International and Development Economics MA Economic Policy Master of Science in International Economics and Finance
Global Pathways for MA Economics MSc Economics Master of Applied Economics and Econometrics
Master of Finance and
Business Economics
Master of Applied Economics Master of Arts in Economics and Decision Sciences

Top Universities Abroad for MA Economics

Here are some of the highly renowned and prestigious universities abroad that offer MA Economics and its variant programmes to students:

University  Location  QS WUR 2022
Stanford University USA  =3
University of Oxford UK 2
London School of Economics and Political Science UK 49
New York University USA 42
University of Essex UK 439
Bocconi University Italy
University of Melbourne Australia  37
University of Toronto Canada  26
The University of Manchester UK =27
Monash University Australia  58

Top Colleges in India for MA Economics

Listed below are the top colleges for those who wish to pursue MA Economics in India:

  1. Delhi School of Economics
  2. Indian Statistical Institute, Delhi
  3. Indira Gandhi Institute of Development Research, Mumbai
  4. Madras School of Economics
  5. Centre of Development Studies, Kerala
  6. Gokhale Institute of Politics and Economics, Pune 
  7. Hyderabad School of Economics
  8. Jamia Millia Islamia, Delhi
  9. School of Social Sciences, Jawaharlal Nehru University, Delhi
  10. Lady Shri Ram College, Delhi
  11. Fergusson College, Pune
  12. Miranda House, Delhi
  13. Madras Christian College, Chennai
  14. Loyola College, Chennai 
  15. St Joseph’s College, Calicut

MA Economics Distance Learning

Given the present pandemic scenario, many students choose remote learning courses. The qualifying criteria for remote learning courses vary based on the college. MA Economics Distance Learning might take between 2 and 5 years to finish. For remote learning courses, admittance is largely based on merit. The following universities provide a two-year distance-learning MA Economics program:

  1. IGNOU, New Delhi
  2. KSOU, Karnataka
  3. Mumbai University, Maharashtra
  4. Sri Venkateswara University, Tirupati

MA Economics Future Scope

Education never ends, and if you have the aptitude and desire to learn more, pursuing a Ph.D. in Economics or another related research subject may be appealing. One might consider getting a PhD to enhance their studies in order to gain a thorough understanding of the topic’s specialties as well as the subject as a whole. Furthering one’s education in MA Economics is not only beneficial in terms of knowledge, but it may also make one suitable for a high-paying employment. The following are the best particular courses to pursue after completing an MA in Economics:

Career Opportunities and Job Prospects 

Since economics has always been a popular career field, MA Economics graduates can find numerous job prospects in both the private and public sectors. Here are the major career prospects you can choose from after completing a master’s degree in Economics.

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

Now that you are familiar with the prominent job opportunities for MA Economics graduates, here are some of the key employment areas:

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

The top recruiters of MA Economics graduates from both private and public sectors are as follows:

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

Salary After MA Economics

The salary depends on the years of experience a candidate has. Initially, the salary may range around 3-5 lakhs per annum which also depends on the field of work chosen. As the years of experience increase along with the required skills, educational qualifications and higher designation, the salary goes up to 10-25 lakhs per annum. 

Also Read: Economics for UPSC

FAQs

What is the scope of an MA in Economics?

 MA Economics graduates are suitable for jobs in the banking, financial services, and insurance sectors. They may also choose to work in public, private, or foreign banks.

What is the course tenure of MA Economics?

This postgraduate course is for 2 years.

What is the admission procedure for MA Economics?

The admission process is merit-based or on the basis of entrance exams conducted by universities. 

What is the average salary of MA Economics graduates?

The average salary depends upon the job position and ranges from around 5-7LPA.

Why one should choose to study MA in Economics

Master of Arts in Economics is one of the most important courses for people who wish to flourish and carve out a place in the world of finance and economic ideas. The MA Economics course features offer students an in-depth analytical approach to various market economies, budget, supply and demand, banking, commerce, and stock market topics. The length of the MA Economics guarantees that students are best prepared to face all professional obstacles when they join the work market. Along with being one of the most diverse job possibilities for students, the MA economics degree also offers a financial opportunity to make a good living.

Which is better MBA or MA in economics?

Students who feel they intend to pursue a career only in managerial positions in the business sector should obtain an MBA. Students should be aware that, although an MBA is considerably more academic in its course material, an MA in Economics is far more practical. Read our blog to know more about MBA vs MA Economics.

We hope that this blog familiarized you with the key details of MA economics and its course variants. Planning to pursue a master’s degree in Economics? Let our Leverage Edu experts assist you in finding the right program and university which aligns with your interests and preferences and equips you with the necessary knowledge and skills to build a successful career in Economics. Sign up for an e-meeting today!

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