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BA in Economics at Greater Mawlai College
East Khasi Hills, Meghalaya
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About the Specialization
What is Economics at Greater Mawlai College East Khasi Hills?
This Economics program at Greater Mawlai College focuses on equipping students with a robust understanding of economic principles, theories, and their real-world applications within the Indian context. It emphasizes analytical thinking, quantitative methods, and policy analysis, preparing graduates for diverse roles in India''''s growing economy. The curriculum delves into microeconomics, macroeconomics, econometrics, and development economics.
Who Should Apply?
This program is ideal for high school graduates with a keen interest in understanding economic systems, market dynamics, and public policy. It is also suitable for individuals aspiring to careers in government services, research, banking, or those planning to pursue higher studies in economics or related fields. Students with strong analytical skills and a desire to contribute to economic development will thrive.
Why Choose This Course?
Graduates of this program can expect to pursue career paths in economic analysis, financial services, public administration, and data analytics within India. Entry-level salaries typically range from INR 2.5 to 4.5 lakhs annually, with significant growth potential. The program aligns with skills required for UPSC civil services, RBI, and other competitive examinations, fostering a strong foundation for professional success.
Student Success Practices
Foundation Stage
Master Core Economic Concepts and Quantitative Skills- (undefined)
Dedicate time to thoroughly understand foundational micro and macroeconomic theories, along with mathematical and statistical methods. Focus on problem-solving from the beginning. Participate in tutorial sessions and seek clarity on challenging quantitative concepts.
Tools & Resources
NCERT Economics books (Classes XI-XII), Online platforms like Khan Academy for basic math/stats, Practice problem sets from textbooks
Career Connection
A strong foundation in these areas is crucial for all advanced economic studies and forms the basis for analytical roles in any sector.
Develop Effective Study Habits and Peer Learning Networks- (undefined)
Form study groups to discuss complex topics and clarify doubts. Practice active recall and spaced repetition for effective retention. Attend workshops on academic writing and presentation skills. Early engagement helps build a supportive academic environment.
Tools & Resources
College library resources, Collaborative online tools (e.g., Google Docs), Peer tutoring programs if available
Career Connection
Effective collaboration and communication are highly valued in professional environments, and strong study habits lead to better academic performance.
Engage with Current Economic Affairs- (undefined)
Regularly read economic news and policy discussions related to India and the global economy. Connect classroom theories to real-world events. This broadens understanding and prepares students for discussions and interviews.
Tools & Resources
The Economic Times, Livemint, RBI Website, NITI Aayog reports
Career Connection
Staying updated on economic trends is vital for roles in policy analysis, journalism, finance, and competitive exams like UPSC.
Intermediate Stage
Apply Theoretical Knowledge to Practical Scenarios- (undefined)
Actively seek opportunities to apply intermediate microeconomics, macroeconomics, and econometrics concepts to case studies. Work on small research projects or term papers that involve data collection and analysis, even at a basic level.
Tools & Resources
Statistical software for beginners (e.g., PSPP, basic Excel functions), Case study repositories, Departmental faculty for guidance
Career Connection
Practical application of theory enhances analytical skills, highly sought after by research firms, consultancies, and financial institutions.
Explore Skill Enhancement Courses and Certifications- (undefined)
Utilize Skill Enhancement Courses (SECs) to gain practical skills like data analysis, research methodology, or specific aspects of the Indian economy. Consider external certifications in Excel, data visualization, or basic programming (e.g., Python for data).
Tools & Resources
NPTEL courses, Coursera/edX for introductory data science, Microsoft Excel certification
Career Connection
These skills are critical for analytical roles and provide a competitive edge in the job market, especially in data-driven industries.
Network and Seek Mentorship- (undefined)
Attend guest lectures, seminars, and workshops organized by the college or local academic bodies. Connect with faculty and alumni to understand various career paths and gain insights into industry expectations. Join professional groups if any.
Tools & Resources
LinkedIn, College alumni network events, Departmental career counseling cell
Career Connection
Networking opens doors to internship opportunities, mentorship, and invaluable career guidance, crucial for navigating the Indian job market.
Advanced Stage
Undertake Research Projects and Dissertations- (undefined)
Engage in a final year research project or dissertation under faculty guidance. This allows for in-depth specialization, independent research, and application of all learned econometric and analytical tools to real economic problems.
Tools & Resources
Advanced statistical software (e.g., R, Stata), Academic databases (JSTOR, Google Scholar), Dedicated faculty mentors
Career Connection
A well-executed research project showcases analytical prowess and is highly valued for higher studies, research roles, and policy think tanks.
Prepare Rigorously for Placements and Competitive Exams- (undefined)
Focus on developing strong interview skills, resume building, and quantitative aptitude. Practice for competitive exams like UPSC, RBI Grade B, or banking exams by solving previous year papers and taking mock tests. Utilize career services for placement assistance.
Tools & Resources
Placement cell resources, Online mock test platforms for competitive exams, Interview preparation guides
Career Connection
Directly impacts securing desired internships and full-time employment in government, banking, finance, and other sectors in India.
Develop Specialization Through Electives and Advanced Learning- (undefined)
Strategically choose Discipline Specific Electives (DSEs) to build a specialized profile in areas like International Economics, Public Economics, or Financial Economics. Supplement classroom learning with advanced online courses or workshops in chosen areas.
Tools & Resources
Advanced Coursera/edX courses in specialized economics, Read academic journals in specific fields, Specialized webinars
Career Connection
Specialization creates expertise, making graduates more attractive to specific industry roles and laying the groundwork for postgraduate studies in their chosen domain.
Program Structure and Curriculum
Eligibility:
- As per NEHU norms, typically 10+2 or equivalent from a recognized board.
Duration: 3 years / 6 semesters
Credits: 128 Credits
Assessment: Internal: 20%, External: 80%
Semester-wise Curriculum Table
Semester 1
| Subject Code | Subject Name | Subject Type | Credits | Key Topics |
|---|---|---|---|---|
| ECO-HC-1016 | Introductory Microeconomics | Core | 6 | Introduction to Economics, Consumer Theory, Theory of Production and Cost, Market Structures, Welfare Economics |
| ECO-HC-1026 | Mathematical Methods for Economics-I | Core | 6 | Preliminaries for Economic Analysis, Functions of One Real Variable, Limit and Continuity, Single Variable Optimisation, Integration in Economics |
| AECC-1 | Environmental Studies / English Communication | Ability Enhancement Compulsory Course (AECC) | 2 | Multidisciplinary Nature of Environmental Studies, Natural Resources and Ecosystems, Environmental Pollution, Human Population and the Environment, Communication Skills, Reading and Writing Abilities |
| GE-1 | Generic Elective - I | Generic Elective | 6 | Foundational Concepts of the chosen discipline (e.g., History, Political Science, Sociology), Basic theories and principles of the elective subject |
Semester 2
| Subject Code | Subject Name | Subject Type | Credits | Key Topics |
|---|---|---|---|---|
| ECO-HC-2036 | Introductory Macroeconomics | Core | 6 | Introduction to Macroeconomics, National Income Accounting, Determination of Output and Employment, Money, Banking and Inflation, Open Economy Macroeconomics |
| ECO-HC-2046 | Mathematical Methods for Economics-II | Core | 6 | Linear Algebra in Economics, Functions of Several Real Variables, Multivariable Optimization, Constrained Optimization, Differential Equations |
| AECC-2 | Environmental Studies / English Communication (whichever not taken in Sem I) | Ability Enhancement Compulsory Course (AECC) | 2 | Advanced Aspects of Environmental Issues, Environmental Policies and Practices, Effective Communication Strategies, Public Speaking and Presentation Skills |
| GE-2 | Generic Elective - II | Generic Elective | 6 | Key Theories and Concepts of the chosen second discipline, Application of elective knowledge in broader contexts |
Semester 3
| Subject Code | Subject Name | Subject Type | Credits | Key Topics |
|---|---|---|---|---|
| ECO-HC-3056 | Intermediate Microeconomics-I | Core | 6 | Advanced Consumer Theory, Production Functions and Costs, Market Structure: Perfect Competition, Market Structure: Monopoly, Factor Market Analysis |
| ECO-HC-3066 | Intermediate Macroeconomics-I | Core | 6 | Aggregate Demand and Components, IS-LM Model for Equilibrium, Aggregate Supply and Economic Fluctuations, Inflation Theories and Measurement, Unemployment Types and Policy |
| ECO-HC-3076 | Statistical Methods for Economics | Core | 6 | Introduction to Statistical Tools, Measures of Central Tendency and Dispersion, Probability and Probability Distributions, Sampling Theory and Estimation, Hypothesis Testing |
| SEC-1 | Indian Economy I / Research Methodology | Skill Enhancement Course (SEC) | 2 | Growth and Structural Changes in Indian Economy, Agriculture and Allied Sectors, Industrial and Service Sectors, Introduction to Research Process, Data Collection Methods and Survey Design |
Semester 4
| Subject Code | Subject Name | Subject Type | Credits | Key Topics |
|---|---|---|---|---|
| ECO-HC-4086 | Intermediate Microeconomics-II | Core | 6 | Market Structure: Oligopoly and Duopoly, Game Theory and Strategic Interactions, General Equilibrium Theory, Welfare Economics and Efficiency, Market Failures and Public Goods |
| ECO-HC-4096 | Intermediate Macroeconomics-II | Core | 6 | Fiscal Policy and Government Debt, Monetary Policy and Central Banking, Open Economy Macroeconomics, Schools of Macroeconomic Thought, Theories of Economic Growth |
| ECO-HC-4106 | Introductory Econometrics | Core | 6 | Nature and Scope of Econometrics, Classical Linear Regression Model (CLRM), Multiple Regression Analysis, Problems in Regression Analysis (Multicollinearity, Heteroscedasticity), Dummy Variable Regression |
| SEC-2 | Indian Economy II / Data Analysis | Skill Enhancement Course (SEC) | 2 | Economic Reforms in India Post-1991, Poverty, Inequality and Employment Challenges, Data Sources and Types, Descriptive Statistics and Data Visualization, Basic Inferential Statistics and Software Applications |
Semester 5
| Subject Code | Subject Name | Subject Type | Credits | Key Topics |
|---|---|---|---|---|
| ECO-HC-5116 | Development Economics-I | Core | 6 | Concepts of Economic Development, Theories of Economic Growth, Poverty, Inequality and Human Development, Human Capital and Health in Development, Environment and Sustainable Development |
| ECO-HC-5126 | Indian Economy-I | Core | 6 | Basic Characteristics of Indian Economy, Economic Planning in India, Agricultural Sector in India, Industrial Sector in India, Service Sector in India |
| DSE-1 | Discipline Specific Elective - I | Discipline Specific Elective (DSE) | 6 | Theories of International Trade, Public Goods and Externalities, Financial Markets and Institutions, Environmental Valuation and Policy, Applied Computer Skills in Economics |
| DSE-2 | Discipline Specific Elective - II | Discipline Specific Elective (DSE) | 6 | Balance of Payments, Taxation Principles and Budgetary Policy, Monetary and Fiscal Economics, Economics of Climate Change, Econometric Software Applications |
Semester 6
| Subject Code | Subject Name | Subject Type | Credits | Key Topics |
|---|---|---|---|---|
| ECO-HC-6136 | Development Economics-II | Core | 6 | Role of State and Markets in Development, Foreign Aid and International Institutions, International Trade and Development Strategies, Population, Migration and Urbanization, Governance and Institutions in Development |
| ECO-HC-6146 | Indian Economy-II | Core | 6 | Fiscal Policy and Budget in India, Monetary Policy and the RBI, Foreign Trade and Investment Policy, Poverty, Unemployment and Regional Disparities, Social Infrastructure and Public Provisioning |
| DSE-3 | Discipline Specific Elective - III | Discipline Specific Elective (DSE) | 6 | Exchange Rate Regimes, Public Expenditure Theory, Banking and Insurance Economics, Resource Economics, Database Management for Economics |
| DSE-4 | Discipline Specific Elective - IV | Discipline Specific Elective (DSE) | 6 | International Financial Institutions, Fiscal Federalism, Risk Management in Finance, Environmental Regulation, Web Applications for Economics |
