Economics

ABOUT CAREERS

Are you interested in learning how a nation’s economy functions? Do you have a strong interest in numbers? If so, you ought to think about pursuing an economics career.Economics is the study of how products and services are produced, distributed, sold, and bought. It is the study of how people, businesses, nations, and the global community make use of limited resources to meet their needs and desires. The best possible allocation of resources within society is facilitated by economists. They concentrate on issues such as national income, employment rate, inflation, supply and demand, and economic growth.Several well-known economists from India include:
  • Amartya Sen: An acclaimed economist and philosopher known for his work on welfare economics, social justice, and the theory of human development. He was awarded the Nobel Prize in Economic Sciences in 1998.
  • Raghuram Rajan: An economist who served as the 23rd Governor of the Reserve Bank of India (RBI) from 2003 to 2006. He is known for his research on financial systems and was awarded the 2013 Central Banker of the Year Award by *The Banker* magazine.
  • Manmohan Singh: An economist and politician who served as the Prime Minister of India from 2004 to 2014. He is credited with economic reforms that led to significant growth in the Indian economy.

Roles and Responsibilities

  • Economists conduct research, prepare reports, or formulate plans to address economic problems related to the production and distribution of goods and services or monetary and fiscal policy.
  • Compile, analyze, and report data to explain economic phenomena and forecast market trends.
  • Apply mathematical models and statistical techniques.
  • Observe trends and based on findings, forecast production and consumption of resources.
  • Formulate recommendations, policies, or plans to solve economic problems or to interpret markets.
  • Research economic issues and disseminate research findings through technical reports or scientific articles in journals.
  • Teach theories, principles, and methods of economics.
  • Study the socioeconomic impacts of new public policies, such as proposed legislation, taxes, services, and regulations.
  • Develop economic guidelines and standards.
  • Provide advice and consultation on economic relationships to businesses, public and private agencies, and other employers.

Salary and Demand

  • Demand is High for Economics.
  • Salary levels are High for Economics.
  • For fresher average salary is more than 5 Lacs.
  • Fees levels of the course is Medium.
  • To pursue this course student need to spend 3 to 4 Lakhs.
  • Level of preparation for Economics is Medium.
  • Students spend 1 year to prepare for entrance test of Economics.

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