Master of Arts (MA) in Economics is a graduate-level program that provides students with advanced training in economic theory, quantitative methods, and applied research. This program typically requires students to have a strong foundation in mathematics and statistics, as well as some prior coursework in economics.
The curriculum of an MA in Economics program typically covers a wide range of topics, including microeconomic theory, macroeconomic theory, econometrics, and various fields of applied economics such as labor economics, international trade, and industrial organization. Students may also have the opportunity to specialize in a particular area of economics by taking electives in that field.
Many MA in Economics programs require students to complete a thesis or research project as part of their degree requirements. This allows students to apply the skills and knowledge they have gained in the program to a real-world research question.
Graduates of an MA in Economics program can pursue a wide range of career paths in both the public and private sectors. They may work as economists in government agencies, research organizations, or private businesses, or they may choose to pursue further academic study in economics or related fields.
MA Economics Course Overview
- Duration: 2 Years
- Eligibility Criteria: Bachelor’s degree in economics or related field from authorized organization.
- Admission Process: As per merit or through entrance examination.
- Course Fees: ₹ 15,000 – ₹ 60,000
- Average Salary: ₹ 5,00,000 – ₹ 10,00,000 per annum
- Job Profile: Data Analyst, Financial Planner, Professional Economist etc.
- Top Recruiting Organization: RBI, ICICI Bank, Kotak Bank, Citi Bank etc.
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Popular Govt Jobs after MA Economics
Indian Economic Service (IES)
- Average Salary: ₹ 3,50,000 – ₹ 8,00,000 per annum
The Indian Economic Service (IES) is a specialized cadre of civil servants in India who are responsible for economic analysis, advising the government on economic policy, and managing economic programs and projects. Union Public Service Commission (UPSC) conducted a competitive examination to recruit IES officers. This post comes into existence in 1961 in central service.
The IES officers are responsible for analysing economic data, formulating policies, and implementing programs related to agriculture, industry, trade, finance, infrastructure, and social sectors. They work in various departments and ministries of the Indian government, including the Ministry of Finance, the Ministry of Commerce and Industry, the Planning Commission, and the Reserve Bank of India.
The IES officers play a crucial role in shaping India’s economic policies and contributing to the country’s overall economic development. They work closely with other civil servants, policymakers, and stakeholders to ensure that economic policies are effective, sustainable, and inclusive.
- Average Salary: ₹ 4,00,000 – ₹ 10,00,000 per annum
A Statistical Investigator are the officials who collects, analyses, and interprets data related to a particular subject or field. In India, the Statistical Investigator is a post in the Indian government that is responsible for conducting surveys, collecting data, and analysing it to provide insights into various socio-economic and other relevant issues.
The post of Statistical Investigator is generally under the Ministry of Statistics and Programme Implementation. The role of a Statistical Investigator involves conducting surveys, collecting data, analysing the data using statistical tools, and presenting the findings in a comprehensive report.
The data collected by Statistical Investigators are used by various government departments, research institutions, and businesses to make informed decisions about policy, planning, and investment. The job of a Statistical Investigator requires strong analytical skills, a sound knowledge of statistics, and proficiency in using statistical software such as SPSS, and SAS.
Candidates must complete a degree in statistics, mathematics, economics, or a related field to pursue a career as Statistical Investigator. They may also need to qualify for a competitive examination conducted by the Staff Selection Commission (SSC) or other relevant bodies.
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- Average Salary: ₹ 2,50,000 – ₹ 8,00,000 per annum
Bank PO stands for Bank Probationary Officer. It is an entry-level managerial position in the banking industry in India. A Bank PO is responsible for managing the day-to-day operations of the bank branch, including customer service, loans and credit, and other financial transactions.
To become a Bank PO, you have to qualify for the bank’s recruitment process, which includes a written examination followed by a group discussion and a personal interview. The recruitment process may vary slightly from bank to bank.
The written examination for Bank PO typically covers topics such as quantitative aptitude, reasoning ability, English language, and general awareness. The questions in the exam are usually of objective type and may be conducted online or offline.
Candidates who qualify for the written examination are then called for a group discussion and a personal interview. With the help of group discussion communication skills, leadership skills, and the ability of the candidates to work with a team tested. The personal interview is conducted to assess the candidate’s knowledge of banking operations, general awareness, and suitability for the job.
Successful candidates are then offered the position of Bank PO, and they are given a probationary period of one or two years to learn the basic banking operations and gain practical experience. During this period, they are trained in various aspects of banking, including customer service, account management, and loan processing. Once the probationary period is over, the Bank PO is confirmed as a permanent employee and may be posted to different branches or departments of the bank.
Assistant Statistical Officer with State PSCs
- Average Salary: ₹ 5,00,000 – ₹ 9,00,000 per annum
Assistant Statistical Officer is a position offered by some of the State Public Service Commissions (PSCs) in India. The role of an Assistant Statistical Officer (ASO) is to assist in the collection, analysis, and interpretation of statistical data related to a particular state or region.
The ASO is responsible for designing and conducting surveys, collecting data, and analyzing them using statistical software and tools. They prepare reports and presentations based on their analysis and present their findings to policymakers and other stakeholders. ASOs also collaborate with other government departments and agencies to provide statistical data and support for policy development and decision-making.
To become an ASO with a State PSC, candidates typically need to have a degree in statistics, mathematics, economics, or a related field. They may also need to pass a competitive examination conducted by the State PSC, which includes subjects such as statistics, mathematics, and general knowledge.
The recruitment process may also involve a personal interview or group discussion to assess the candidate’s communication skills, analytical abilities, and suitability for the role. Successful candidates are then appointed as ASOs with a probationary period of one or two years.
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- Average Salary: ₹ 3,00,000 – ₹ 7,00,000 per annum
A Lecturer in Economics is a teaching position at a college or university where they are responsible for educating undergraduate or graduate students in economics. Lecturers in Economics teach courses such as Microeconomics, Macroeconomics, Econometrics, International Economics, Development Economics, and other related subjects.
To become a Lecturer in Economics, one typically needs to have a graduate degree in economics, such as a master’s or a Ph.D. degree. They must also have a strong background in economics, including a deep understanding of economic theory, principles, and practices.
Lecturers in Economics are responsible for creating and delivering course materials, including lectures, assignments, and exams. They must also grade assignments and exams, provide feedback to students, and hold office hours to provide individualized assistance to students who need it.
Lecturers in Economics also conduct research and publish scholarly papers and articles in academic journals. This is important for their professional development and advancement in the academic community.
In addition to teaching and research, Lecturers in Economics may also participate in departmental meetings and other administrative duties, such as serving on academic committees or advising students on academic matters.
The Overall role of a Lecturer in Economics is to educate and train the next generation of economists and contribute to the development of the field through research and publications. They play a crucial role in advancing economic knowledge and promoting economic growth and development.
These are some popular job profiles that most of the candidates choose to pursue their careers. Understand all aspects regarding every profile and then take the right decision. Hope, this article will be beneficial for you with answers to your queries.
Frequently Asked Questions
What are the popular government job exams after MA Economics?
Ans: The popular government job exams after MA Economics include UPSC Civil Services, Indian Economic Service (IES), Indian Statistical Service (ISS), and National Eligibility Test (NET) for Assistant Professorship.
What is the salary range for government jobs after MA in Economics?
Ans: The salary range for government jobs after MA in Economics varies depending on the job position and the organization. However, candidates can expect a salary range of ₹ 2,50,000 – ₹ 10,00,000 per year.
Are there any government job opportunities for candidates with a master’s degree in economics in the private sector?
Ans: Yes, there are government job opportunities for candidates with a master’s degree in economics in the private sector. Candidates can apply for positions such as Economic Analyst, Business Analyst, and Research Analyst in private companies.
Is work experience mandatory for government jobs after MA in Economics?
Ans: Work experience is not mandatory for all government jobs after MA in Economics. However, some job positions may require candidates to have work experience in the relevant field.
What are the eligibility criteria for government jobs after MA in Economics?
Ans: The eligibility criteria for government jobs after MA in Economics vary depending on the job position and the organization. However, in most cases, a master’s degree in economics is mandatory along with other requirements such as age limit, work experience, and qualifying exams.