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MA in Economics at GODDA COLLEGE, GODDA
Godda, Jharkhand
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About the Specialization
What is Economics at GODDA COLLEGE, GODDA Godda?
This MA Economics program at Godda College, affiliated with SKMU, offers a comprehensive study of economic theories and their real-world applications. It emphasizes a strong foundation in microeconomics, macroeconomics, econometrics, and Indian economic policy, preparing students to analyze complex economic issues relevant to India''''s developing economy. The program aims to foster critical thinking and analytical skills essential for economic research and policy formulation.
Who Should Apply?
This program is ideal for economics graduates seeking advanced theoretical and quantitative skills, fresh graduates from any discipline with a strong aptitude for analytical thinking aiming for roles in economic analysis, and working professionals looking to enhance their understanding of economic policy and development. Individuals aspiring for careers in research, government policy, banking, or academia will find this program highly beneficial.
Why Choose This Course?
Graduates of this program can expect diverse career paths in India, including roles as economic analysts, researchers, consultants in government agencies, banks, think tanks, and NGOs. Entry-level salaries typically range from INR 3-6 LPA, growing significantly with experience. Opportunities also exist in teaching and pursuing further research like M.Phil or PhD, contributing to India''''s economic growth and policy development.
Student Success Practices
Foundation Stage
Strengthen Core Economic Concepts- (Semester 1-2)
Dedicate time to thoroughly understand fundamental micro and macroeconomics. Utilize textbooks, online lectures (e.g., NPTEL, Khan Academy), and peer study groups to clarify complex theories and build a robust conceptual base for future advanced studies.
Tools & Resources
NPTEL courses on Economics, Mankiw''''s Economics textbooks, Peer study groups
Career Connection
A strong foundation is crucial for excelling in advanced subjects and for competitive exams for government jobs (UPSC, RBI Grade B) or research roles.
Master Quantitative and Statistical Tools- (Semester 1-2)
Actively practice quantitative methods and statistical concepts taught in classes. Work through problems, use spreadsheets (MS Excel), and get an early introduction to statistical software. This includes understanding data interpretation and basic modeling.
Tools & Resources
MS Excel, NCERT Statistics books, Online tutorials for basic R/Python
Career Connection
Proficiency in quantitative skills is highly valued in roles requiring data analysis, research, and economic modeling in both public and private sectors in India.
Engage with Indian Economic News and Policies- (Semester 1-2)
Regularly read leading Indian economic newspapers (e.g., The Economic Times, Business Standard) and government policy documents. This connects theoretical knowledge to current Indian economic challenges and policy debates, enhancing understanding.
Tools & Resources
The Economic Times, Business Standard, Reserve Bank of India (RBI) website, NITI Aayog reports
Career Connection
Awareness of current economic affairs is critical for interviews for government, banking, and research positions, demonstrating practical knowledge.
Intermediate Stage
Deep Dive into Econometrics and Data Analysis- (Semester 3)
Beyond theoretical econometrics, gain hands-on experience with statistical software (e.g., SPSS, R, EViews). Work on small data projects, analyze datasets, and interpret results to develop practical econometric skills highly sought after in the industry.
Tools & Resources
SPSS/R/EViews software, Kaggle for datasets, NPTEL advanced statistics courses
Career Connection
These skills are essential for roles in data analytics, market research, and economic consulting, where quantitative analysis is key for Indian firms and MNCs.
Participate in Economic Seminars and Workshops- (Semester 3)
Attend college-level seminars, webinars, and workshops on specific economic topics, especially those focused on development, public policy, or finance. This broadens perspective and introduces students to diverse research areas and professional networks.
Tools & Resources
Departmental notices, University event calendars, Online platforms hosting economics webinars
Career Connection
Networking and exposure to different economic thought processes can open doors to internships and collaborations, enhancing profile for Indian job market.
Explore Discipline Specific Electives for Specialization- (Semester 3)
Carefully choose Discipline Specific Electives (DSEs) based on career interests. Engage deeply with the chosen specialization, whether it''''s Agricultural, Industrial, Financial, or Health Economics, by reading advanced literature and case studies.
Tools & Resources
Specialized journals, Research papers on DSE topics, Industry reports related to chosen field
Career Connection
Specialization makes you a more targeted candidate for specific industry roles in India, such as a financial analyst or agricultural policy specialist.
Advanced Stage
Undertake a Comprehensive Research Project/Dissertation- (Semester 4)
Approach the final year research project with utmost seriousness. Select a relevant topic, conduct thorough literature review, collect and analyze data rigorously, and present findings professionally. This demonstrates independent research capability.
Tools & Resources
Academic databases (JSTOR, Google Scholar), Statistical software, Thesis writing guides
Career Connection
A well-executed project is a strong portfolio item for research roles, higher studies, and showcases problem-solving skills to potential employers.
Prepare for Placements and Competitive Exams- (Semester 4)
Start preparing for campus placements, competitive exams (e.g., UGC NET, civil services, banking PO), or postgraduate entrance exams early. Focus on interview skills, aptitude tests, and subject-specific knowledge revision relevant to Indian job markets.
Tools & Resources
Placement cell resources, Online test series platforms, Previous year question papers
Career Connection
Targeted preparation enhances employability and improves chances of securing desired roles in government, PSUs, or private sector companies in India.
Build a Professional Network and Seek Mentorship- (Semester 4)
Connect with alumni, faculty, and professionals in the field of economics. Attend industry events, use platforms like LinkedIn, and seek mentorship. A strong network provides insights into career opportunities and potential collaborations.
Tools & Resources
LinkedIn, Alumni association events, Industry conferences
Career Connection
Professional networking is invaluable for job referrals, career guidance, and staying updated on industry trends within the Indian economic landscape.
Program Structure and Curriculum
Eligibility:
- Graduate in any discipline with a minimum of 45% marks from a recognized University.
Duration: 4 semesters / 2 years
Credits: 92 Credits
Assessment: Internal: 30%, External: 70%
Semester-wise Curriculum Table
Semester 1
| Subject Code | Subject Name | Subject Type | Credits | Key Topics |
|---|---|---|---|---|
| CC-101 | Micro Economic Analysis - I | Core | 4 | Consumer Behavior Theories, Demand Analysis, Production and Cost Functions, Market Structures (Perfect Competition, Monopoly), Factor Pricing |
| CC-102 | Macro Economic Analysis - I | Core | 4 | National Income Accounting, Classical and Keynesian Economics, Consumption and Investment Theories, Money Supply and Demand, Inflation and Unemployment |
| CC-103 | Quantitative Methods for Economic Analysis - I | Core | 4 | Basic Mathematical Concepts, Differential Calculus for Economics, Integral Calculus for Economics, Matrix Algebra, Linear Programming |
| CC-104 | Indian Economic Policy - I | Core | 4 | Structure of Indian Economy, Economic Planning in India, Agricultural Sector Issues, Industrial Sector Development, Poverty, Inequality, and Employment |
| AECC-1 | Environmental Studies | Ability Enhancement Compulsory | 2 | Multidisciplinary Nature of Environmental Studies, Natural Resources and Conservation, Ecosystems and Biodiversity, Environmental Pollution and Control, Social Issues and Sustainable Development |
| SEC-1 | Computer Applications in Economics | Skill Enhancement | 2 | Basic Computer Concepts, MS Word for Document Preparation, MS Excel for Data Management, MS PowerPoint for Presentations, Internet and Email for Research |
Semester 2
| Subject Code | Subject Name | Subject Type | Credits | Key Topics |
|---|---|---|---|---|
| CC-201 | Micro Economic Analysis - II | Core | 4 | Welfare Economics, General Equilibrium Theory, Market Failures and Externalities, Game Theory, Asymmetric Information |
| CC-202 | Macro Economic Analysis - II | Core | 4 | Open Economy Macroeconomics, Exchange Rate Theories, Balance of Payments, Monetary Policy, Fiscal Policy |
| CC-203 | Quantitative Methods for Economic Analysis - II | Core | 4 | Probability Theory, Sampling and Estimation, Hypothesis Testing, Correlation and Regression, Time Series Analysis |
| CC-204 | Indian Economic Policy - II | Core | 4 | Public Finance in India, Fiscal Federalism, Banking and Financial Sector Reforms, Foreign Trade and Investment, Globalization and Indian Economy |
| AECC-2 | Communicative English | Ability Enhancement Compulsory | 2 | Grammar and Vocabulary Building, Reading Comprehension, Effective Writing Skills, Oral Communication and Presentation, Group Discussion and Interview Skills |
| SEC-2 | Data Analysis using Statistical Software | Skill Enhancement | 2 | Introduction to Statistical Software (e.g., SPSS, R basics), Data Entry, Cleaning and Transformation, Descriptive Statistics Calculation, Inferential Statistics (ANOVA, Chi-square), Interpretation of Statistical Output |
Semester 3
| Subject Code | Subject Name | Subject Type | Credits | Key Topics |
|---|---|---|---|---|
| CC-301 | Development Economics - I | Core | 4 | Theories of Economic Development, Poverty, Inequality, and Malnutrition, Population Growth and Human Capital, Role of Agriculture and Industry in Development, Development Planning and State Intervention |
| CC-302 | Public Economics - I | Core | 4 | Public Goods and Externalities, Principles of Taxation, Income and Expenditure Tax, Public Expenditure Theory, Fiscal Policy and Stabilization |
| CC-303 | International Economics - I | Core | 4 | Theories of International Trade, Terms of Trade, Trade Policy and Protectionism, Trade Blocks and Economic Integration, Foreign Exchange Market |
| CC-304 | Econometrics - I | Core | 4 | Classical Linear Regression Model (CLRM), Estimation Methods (OLS), Hypothesis Testing, Dummy Variables, Violations of CLRM Assumptions |
| DSE-301 | Agricultural Economics | Discipline Specific Elective | 4 | Agricultural Development Theories, Farm Management and Productivity, Agricultural Marketing and Pricing, Rural Credit and Finance, Food Security and Policy |
| DSE-302 | Industrial Economics | Discipline Specific Elective | 4 | Industrial Development and Structure, Market Structure and Competition, Firm Behavior and Performance, Industrial Location Theories, Competition Policy and Regulation |
| OE-1 | Open Elective - I | Open Elective | 4 | Topics as per student''''s choice from other disciplines (e.g., Introduction to Commerce, Basic Psychology) |
Semester 4
| Subject Code | Subject Name | Subject Type | Credits | Key Topics |
|---|---|---|---|---|
| CC-401 | Development Economics - II | Core | 4 | Theories of Economic Growth, Endogenous Growth Models, Role of Institutions in Development, Globalization and its Impact on Developing Countries, Sustainable Development Goals (SDGs) |
| CC-402 | Public Economics - II | Core | 4 | Public Debt and Debt Management, Budgeting and Fiscal Deficit, Fiscal Federalism in India, Tax Reforms in India (GST), Social Security and Welfare Programs |
| DSE-401 | Financial Economics | Discipline Specific Elective | 4 | Financial Markets and Institutions, Capital Market and Money Market, Investment Analysis and Portfolio Management, Risk and Return Concepts, Behavioral Finance |
| DSE-402 | Health Economics | Discipline Specific Elective | 4 | Demand for Health and Health Care, Health Care Systems and Financing, Health Insurance Models, Economic Evaluation in Health, Public Health Policy in India |
| OE-2 | Open Elective - II | Open Elective | 4 | Topics as per student''''s choice from other disciplines (e.g., Fundamentals of Management, Basic Sociology) |
| Project/Dissertation | Research Project / Dissertation | Project | 4 | Research Problem Formulation, Literature Review, Research Design and Methodology, Data Collection and Analysis, Report Writing and Presentation |
