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MA 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 MA Economics program at Greater Mawlai College, affiliated with NEHU, focuses on equipping students with advanced theoretical knowledge and practical analytical skills essential for understanding complex economic issues. It covers core areas like microeconomics, macroeconomics, econometrics, and development economics, highly relevant to India''''s evolving economic landscape, fostering critical thinking for real-world applications.
Who Should Apply?
This program is ideal for economics graduates seeking to deepen their academic understanding and analytical capabilities. It caters to fresh graduates aspiring for roles in research, policy analysis, or academia, and also for professionals looking to enhance their economic expertise for careers in government, banking, or corporate research firms in the Indian market.
Why Choose This Course?
Graduates of this program can expect diverse career paths in India, including roles as economic analysts, researchers, consultants, or policymakers. Entry-level salaries typically range from INR 3-6 lakhs per annum, with experienced professionals earning significantly more. The strong quantitative and policy focus prepares students for advanced studies or impactful contributions to India''''s economic development.
Student Success Practices
Foundation Stage
Strengthen Core Economic Fundamentals- (Semester 1-2)
Dedicate significant time to mastering Microeconomics, Macroeconomics, and Quantitative Methods. Regularly solve problems from textbooks and past papers to solidify conceptual understanding. Form study groups to discuss complex theories and ensure a strong academic base.
Tools & Resources
Varian''''s Microeconomic Analysis, Dornbusch & Fischer''''s Macroeconomics, Alpha C. Chiang''''s Fundamental Methods of Mathematical Economics, Online MOOCs
Career Connection
A robust foundation is crucial for excelling in advanced subjects and for competitive exams (UGC NET, UPSC Civil Services) that require strong theoretical grasp, opening doors to research and civil service careers.
Develop Data Analysis Skills- (Semester 1-2)
Actively engage with Computer Application for Economic Analysis and Econometrics practicals. Learn to use spreadsheet software (MS Excel) and basic econometric packages (e.g., Gretl, EViews) to manipulate and analyze economic data. Focus on interpreting statistical outputs.
Tools & Resources
MS Excel, Gretl/EViews software, NSSO data portal, RBI data sources
Career Connection
Proficiency in data analysis is highly valued in research, consulting, and financial analyst roles in India, as businesses and government agencies increasingly rely on data-driven decision-making.
Engage with Indian Economic Policy Debates- (Semester 1-2)
Beyond textbooks, read current economic news, reports from RBI, NITI Aayog, and Ministry of Finance. Participate in college debates or discussions on contemporary Indian economic issues to understand policy implications and different perspectives.
Tools & Resources
Economic Survey of India, RBI Bulletins, The Economic Times, Livemint, PRS Legislative Research
Career Connection
Understanding real-world policy dynamics and current events is vital for roles in economic journalism, public policy think tanks, and government advisory positions, making you a more informed and employable candidate.
Intermediate Stage
Undertake Mini-Research Projects- (Semester 3-4)
Apply econometric techniques and economic theory to small-scale research questions, perhaps in areas like developmental economics or public finance. This involves data collection, analysis, and writing a concise report, potentially collaborating with peers or faculty.
Tools & Resources
Statistical software (SPSS, R basics), Online research databases (JSTOR, Google Scholar), NEHU library resources
Career Connection
Practical research experience enhances analytical and problem-solving skills, making candidates attractive for research assistant roles, market research firms, and roles requiring critical evaluation of data.
Explore Elective Specializations- (Semester 3-4)
Carefully select elective courses (e.g., Financial Economics, Agricultural Economics, Industrial Economics) that align with your career interests. Deep-dive into these areas, potentially seeking out guest lectures or workshops related to your chosen specialization.
Tools & Resources
Departmental seminars, Industry reports (e.g., from Deloitte, EY), Specialized journals
Career Connection
Specialized knowledge makes you competitive for niche roles in finance, agriculture, or industrial sectors, demonstrating focused expertise to potential employers in India''''s diverse economy.
Participate in Economic Competitions/Quizzes- (Semester 3-4)
Engage in inter-college economic quiz competitions, paper presentation contests, or case study challenges. This not only tests your knowledge under pressure but also builds networking opportunities and improves presentation skills.
Tools & Resources
NEHU Inter-College Competitions, Indian Economic Association events, Online quiz platforms
Career Connection
Such participation builds confidence, sharpens critical thinking, and adds valuable achievements to your resume, showcasing your engagement and passion for economics to recruiters.
Advanced Stage
Undertake a Comprehensive Dissertation- (Semester 4)
For your Dissertation (ECO-D-510), choose a topic with practical relevance to the Indian context, if possible. Conduct thorough literature review, rigorous data analysis, and present your findings professionally. Seek regular feedback from your supervisor.
Tools & Resources
Advanced econometric software (STATA, R, Python), Reference management tools (Zotero), Academic writing guidelines
Career Connection
A strong dissertation demonstrates independent research capability, analytical rigor, and subject matter expertise, highly valued for academic pursuits, policy analysis roles, and research positions.
Prepare for Placements and Higher Studies- (Semester 4)
Start preparing for campus placements, competitive exams (UGC NET, RBI Grade B, UPSC), or Ph.D. admissions. Work on interview skills, resume building, and quantitative aptitude. Attend career guidance workshops and alumni interaction sessions.
Tools & Resources
Placement cell services, Online aptitude tests, Mock interview platforms, NEHU alumni network
Career Connection
Proactive preparation for placements and higher studies significantly increases your chances of securing desirable positions in government, financial institutions, research, or gaining admission to prestigious Ph.D. programs.
Network with Professionals and Alumni- (Semester 3-4 (ongoing))
Attend conferences, seminars, and workshops in your area of interest. Connect with faculty, guest speakers, and alumni working in various economic fields. Leverage LinkedIn to build a professional network and explore mentorship opportunities.
Tools & Resources
LinkedIn, Professional economic associations (e.g., Indian Economic Association), College career fairs
Career Connection
Networking is vital for discovering job opportunities, gaining industry insights, and securing referrals, providing a significant edge in the competitive Indian job market.
Program Structure and Curriculum
Eligibility:
- B.A. with Honours in Economics with 50% marks or B.A./B.Sc. with Economics/Statistics/Mathematics as one of the subjects with 50% marks in aggregate (45% for SC/ST candidates)
Duration: 4 semesters (2 years)
Credits: 100 Credits
Assessment: Internal: 30%, External: 70%
Semester-wise Curriculum Table
Semester 1
| Subject Code | Subject Name | Subject Type | Credits | Key Topics |
|---|---|---|---|---|
| ECO-C-401 | Microeconomics - I | Core | 4 | Consumer Behavior Theories, Production and Cost Analysis, Market Structures (Perfect Competition, Monopoly), Pricing Strategies, Welfare Economics |
| ECO-C-402 | Macroeconomics - I | Core | 4 | National Income Accounting, Theories of Consumption and Investment, Money and Inflation, IS-LM Model, Business Cycles |
| ECO-C-403 | Quantitative Methods for Economic Analysis | Core | 4 | Matrix Algebra, Differential Calculus for Optimization, Integral Calculus, Probability Theory, Statistical Inference |
| ECO-C-404 | Indian Economic Policy | Core | 4 | Structure of Indian Economy, Agricultural and Industrial Policy, Fiscal and Monetary Policy, External Sector Reforms, Poverty and Inequality in India |
| ECO-C-405 | Computer Application for Economic Analysis | Core (with Practical) | 4 | Introduction to Spreadsheets (MS Excel), Statistical Functions and Data Analysis Tools, Data Visualization, Database Management Basics, Internet for Economic Data |
Semester 2
| Subject Code | Subject Name | Subject Type | Credits | Key Topics |
|---|---|---|---|---|
| ECO-C-406 | Microeconomics - II | Core | 4 | General Equilibrium Theory, Game Theory, Asymmetric Information, Externalities and Public Goods, Input Markets |
| ECO-C-407 | Macroeconomics - II | Core | 4 | Neo-classical and Keynesian Synthesis, Open Economy Macroeconomics, Economic Growth Theories, Supply Side Economics, Rational Expectations |
| ECO-C-408 | Econometrics | Core | 4 | Classical Linear Regression Model, Violations of CLRM Assumptions, Dummy Variable Regression, Forecasting Techniques, Simultaneous Equation Models |
| ECO-C-409 | Developmental Economics | Core | 4 | Theories of Economic Development, Poverty, Inequality, and Development, Role of State and Markets, Human Capital and Development, Sustainable Development |
| ECO-C-410 | Computer Applications for Econometrics | Core (with Practical) | 4 | Econometric Software (e.g., EViews, Gretl), Data Input and Management, Regression Analysis using Software, Hypothesis Testing and Interpretation, Time Series Analysis Basics |
Semester 3
| Subject Code | Subject Name | Subject Type | Credits | Key Topics |
|---|---|---|---|---|
| ECO-C-501 | Public Economics | Core | 4 | Public Goods and Externalities, Taxation Principles and Incidence, Public Expenditure Analysis, Fiscal Federalism in India, Budgeting and Public Debt |
| ECO-C-502 | International Economics | Core | 4 | Theories of International Trade, Trade Policy and Protectionism, Balance of Payments, Exchange Rate Regimes, International Economic Institutions |
| ECO-E-503 | Financial Economics (Elective Pool Option) | Elective | 4 | Financial Markets and Institutions, Asset Pricing Models (CAPM), Derivatives Markets, Risk Management, Behavioral Finance |
| ECO-E-504 | Agricultural Economics (Elective Pool Option) | Elective | 4 | Role of Agriculture in Economic Development, Agricultural Production Economics, Agricultural Marketing and Prices, Food Security and Policy, Rural Credit and Indebtedness |
| ECO-E-505 | Industrial Economics (Elective Pool Option) | Elective | 4 | Industrial Structure and Market Conduct, Theories of Firm Growth, Industrial Location and Diversification, Industrial Sickness and Policy, Competition Policy |
| ECO-E-506 | Demography (Elective Pool Option) | Elective | 4 | Sources of Demographic Data, Theories of Population Growth, Fertility, Mortality, and Migration, Population Structure and Aging, Population Policy in India |
| ECO-E-507 | Economics of Social Sector (Elective Pool Option) | Elective | 4 | Health Economics, Education Economics, Poverty and Social Exclusion, Gender and Development, Social Security Programs |
| ECO-E-508 | Economics of Public Enterprises (Elective Pool Option) | Elective | 4 | Role and Objectives of Public Enterprises, Pricing Policies of Public Enterprises, Performance Evaluation, Privatization and Disinvestment, Public-Private Partnerships |
| ECO-E-509 | History of Economic Thought (Elective Pool Option) | Elective | 4 | Mercantilism and Physiocracy, Classical School (Adam Smith, Ricardo), Marxian Economics, Neo-classical Revolution, Keynesian Revolution |
| ECO-E-510 | Labour Economics (Elective Pool Option) | Elective | 4 | Labor Supply and Demand, Wage Determination Theories, Unemployment and Its Types, Labor Market Institutions, Labor Policy in India |
| ECO-E-511 | Mathematical Economics (Elective Pool Option) | Elective | 4 | Optimization Techniques, Input-Output Analysis, Game Theory (Advanced), Dynamic Economic Models, Applications in Micro and Macroeconomics |
| ECO-E-512 | Computer Application in Economics (Elective Pool Option) | Elective | 4 | Advanced Spreadsheet Modeling, Statistical Package for Social Sciences (SPSS), Data Envelopment Analysis, Econometric Software (e.g., R, Python basics), Online Data Sources and Visualization |
Semester 4
| Subject Code | Subject Name | Subject Type | Credits | Key Topics |
|---|---|---|---|---|
| ECO-C-506 | Environmental Economics | Core | 4 | Environmental Quality and Economic Activity, Market Failure and Environmental Externalities, Valuation of Environmental Goods, Environmental Policy Instruments, Sustainable Development Goals |
| ECO-C-507 | Research Methodology | Core | 4 | Research Design and Problem Formulation, Data Collection Methods, Sampling Techniques, Hypothesis Testing, Report Writing and Ethics |
| ECO-D-510 | Dissertation | Project | 4 | Research Proposal Development, Literature Review, Data Analysis and Interpretation, Academic Writing and Presentation, Original Research Contribution |
| NA Elective Slot 1 | Elective Course (Choice 1 of 2 for this semester) | Elective Placeholder | 4 | Students choose one elective from the pool of options listed under Semester 3 based on their specialization interests. |
| NA Elective Slot 2 | Elective Course (Choice 2 of 2 for this semester) | Elective Placeholder | 4 | Students choose a second elective from the pool of options listed under Semester 3, completing their elective requirements. |
