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PH-D in Economics Finance at Birla Institute of Technology & Science, Pilani
Jhunjhunu, Rajasthan
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About the Specialization
What is Economics & Finance at Birla Institute of Technology & Science, Pilani Jhunjhunu?
This Ph.D. in Economics & Finance program at BITS Pilani focuses on advanced research in economic theory, econometrics, financial markets, corporate finance, and behavioral aspects. It prepares scholars to contribute significantly to academic and policy-making spheres, addressing complex challenges relevant to India''''s dynamic economic growth and financial stability. The program emphasizes rigorous analytical and quantitative skills development.
Who Should Apply?
This program is ideal for highly motivated individuals holding a Master''''s degree in Economics, Finance, Commerce, Management, or a related quantitative discipline. It caters to aspiring academics, researchers in think tanks, and professionals in regulatory bodies or financial institutions seeking advanced analytical capabilities and a research career. Candidates should possess strong foundational knowledge and a passion for original research.
Why Choose This Course?
Graduates of this program can expect to pursue esteemed careers as faculty in Indian universities, research economists in government ministries, central banks (like RBI), or financial sector regulators (SEBI). Opportunities also exist in top-tier private sector research firms and economic consulting. Expected starting salaries for Ph.D. holders typically range from INR 10-20 LPA, with significant growth potential into senior research and leadership roles.
Student Success Practices
Foundation Stage
Master Advanced Core Concepts- (First 12-18 months of Ph.D.)
Diligently engage with advanced microeconomics, macroeconomics, and econometrics coursework. Form study groups to discuss complex theories and problem sets, ensuring a solid theoretical and quantitative foundation for research. This rigorous approach builds confidence for comprehensive exams and thesis work.
Tools & Resources
Standard graduate textbooks (e.g., Mas-Colell, Romer, Greene), Academic journals (e.g., AER, Econometrica, JFE), NPTEL advanced courses, BITS Pilani digital library
Career Connection
Strong foundational knowledge is crucial for clearing comprehensive examinations and building credible, impactful research, essential for academic and research roles in India.
Develop Quantitative and Programming Skills- (Continual from initial coursework, intensified during research.)
Actively learn and practice statistical and econometric software (e.g., R, Python, Stata, EViews) crucial for data analysis. Work on mini-projects involving real-world economic and financial datasets to hone data manipulation and analytical skills. Seek out departmental workshops on these tools.
Tools & Resources
Coursera/edX courses on R/Python for Data Science, DataCamp, Kaggle datasets, Official software documentation, Departmental workshops
Career Connection
Proficiency in quantitative tools is highly valued in research, data analysis, and financial modeling roles, significantly enhancing employability across various sectors in India.
Engage with Faculty Research- (Throughout the first two years of the program.)
Attend departmental seminars, faculty presentations, and research colloquia regularly. Proactively approach faculty whose research interests align with yours to understand ongoing projects and potentially assist, gaining early exposure to the research process and potential thesis areas.
Tools & Resources
Departmental seminar schedules, Faculty profiles on BITS Pilani website, Academic databases (JSTOR, Scopus, Web of Science)
Career Connection
Early research engagement can lead to co-authorships, strong mentorship, and helps in identifying a compelling thesis topic, vital for academic career progression and job market success.
Intermediate Stage
Prepare Rigorously for Comprehensive Examinations- (Typically end of 2nd year.)
Systematically review all core coursework material in depth. Practice solving past comprehensive exam papers under timed conditions and seek feedback from mentors and senior Ph.D. students. Develop a deep, integrated understanding of economic and financial theories.
Tools & Resources
Comprehensive exam syllabus, Past examination papers, Faculty office hours, Dedicated study groups
Career Connection
Passing comprehensives is a critical milestone, signifying readiness for independent research and is often a prerequisite for continued enrollment and thesis work, opening doors to advanced research.
Formulate a Robust Research Proposal- (Post-comprehensives, typically 2nd-3rd year.)
Based on thorough literature review and evolving interests, articulate a clear, concise, and original research question. Develop a detailed research proposal outlining methodology, data sources, and expected contributions, seeking regular, critical feedback from your advisor.
Tools & Resources
Academic databases (SSRN, RePEc), Zotero/Mendeley for reference management, Proposal writing guides, Regular advisor meetings
Career Connection
A strong, well-defined research proposal is the foundation of a successful thesis and demonstrates the ability to contribute original research, making you attractive to future employers.
Network and Present at Workshops/Conferences- (3rd year onwards.)
Begin presenting preliminary research findings at internal workshops or smaller national conferences. Network with fellow researchers and academics to receive constructive feedback, build professional connections, and stay updated on current research trends and opportunities in India.
Tools & Resources
Departmental research forums, Relevant Indian academic conferences (e.g., Indian Econometric Society, Indian Finance Association), LinkedIn
Career Connection
Presenting early builds confidence, refines communication skills, and creates visibility for your work, which is crucial for job market success and collaborative opportunities.
Advanced Stage
Focus on High-Quality Thesis Writing and Publication- (4th-5th year.)
Dedicate consistent and focused effort to writing and refining your doctoral dissertation. Aim to publish chapters or related working papers in reputable peer-reviewed journals, which significantly enhances your academic and research profile for the job market.
Tools & Resources
Academic writing workshops, Thesis formatting guidelines, Journal submission platforms, Continuous feedback from advisor and peers
Career Connection
A well-written thesis and a strong publication record are paramount for securing academic positions, post-doctoral fellowships, and senior research roles in India and globally.
Strategize and Prepare for the Job Market- (Final year of Ph.D.)
Develop a compelling academic CV, prepare a concise teaching statement, and practice job talks rigorously. Identify potential academic institutions, research organizations, and government agencies in India that align with your career goals and tailor applications accordingly, including mock interviews.
Tools & Resources
University career services, Faculty mentors for guidance, Academic job market websites (e.g., INOMICS, academic portals), Mock interview sessions
Career Connection
Proactive and strategic job market preparation maximizes your chances of securing desirable positions in India''''s competitive academic and research landscape.
Build a Professional Online Presence and Network- (Ongoing, intensified in the final years.)
Create and maintain a professional website or academic profile (e.g., Google Scholar, ResearchGate) showcasing your research, publications, and teaching interests. Actively engage with the academic community through relevant platforms and alumni networks to foster collaborations and career opportunities.
Tools & Resources
Personal academic website/blog, LinkedIn, Google Scholar profile, ResearchGate/Academia.edu
Career Connection
A strong online presence increases visibility for your research, facilitates networking, and opens doors to collaborations and career opportunities beyond direct applications.
Program Structure and Curriculum
Eligibility:
- M.E./M.Tech./M.Pharm./MBA/M.Phil./M.Sc./B.E. or an equivalent degree with a minimum of 60% aggregate marks in the qualifying examination. For Economics & Finance, typically a Master''''s degree in Economics, Finance, Commerce, Management, or a related discipline with a strong academic record is preferred.
Duration: Typically 3-5 years (Full-time), coursework completed in first 1-2 years
Credits: Minimum 18 units of coursework Credits
Assessment: Assessment pattern not specified
Semester-wise Curriculum Table
Semester coursework
| Subject Code | Subject Name | Subject Type | Credits | Key Topics |
|---|---|---|---|---|
| ECON F612 | Advanced Microeconomics | Core | Variable (typically 3-4 units) | Consumer Theory, Producer Theory, General Equilibrium, Game Theory, Welfare Economics, Information Economics |
| ECON F613 | Advanced Macroeconomics | Core | Variable (typically 3-4 units) | Economic Growth Models, Business Cycles, Monetary Policy, Fiscal Policy, Dynamic Stochastic General Equilibrium |
| ECON F614 | Advanced Econometrics | Core | Variable (typically 3-4 units) | Classical Linear Regression, Generalized Least Squares, Panel Data Methods, Time Series Econometrics, Limited Dependent Variable Models |
Semester coursework
| Subject Code | Subject Name | Subject Type | Credits | Key Topics |
|---|---|---|---|---|
| FIN F617 | Advanced Financial Econometrics | Elective/Core | Variable (typically 3-4 units) | Financial Time Series, Volatility Models (ARCH/GARCH), High-Frequency Data, Multivariate Financial Models, Risk Management Applications |
| FIN F611 | Research Methods in Finance | Mandatory/Core | Variable (typically 3-4 units) | Research Design, Literature Review, Data Collection Techniques, Hypothesis Testing, Statistical Software Applications, Academic Writing |
| ECON F615 | Behavioural Economics & Finance | Elective | Variable (typically 3-4 units) | Cognitive Biases, Heuristics and Shortcuts, Prospect Theory, Intertemporal Choice, Neuroeconomics, Market Anomalies |
| FIN F616 | Corporate Finance & Governance | Elective | Variable (typically 3-4 units) | Capital Structure Theories, Dividend Policy, Mergers & Acquisitions, Corporate Valuation, Agency Theory, Governance Mechanisms |
