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BA in Economics at Gujarat Arts & Science College
Ahmedabad, Gujarat
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About the Specialization
What is Economics at Gujarat Arts & Science College Ahmedabad?
This Economics program at Gujarat Arts and Commerce College (Evening) focuses on developing a strong foundation in economic theory, policy, and quantitative methods. It equips students with analytical skills to understand complex economic issues, relevant for India''''s evolving economic landscape, fostering critical thinking for market analysis and policy formulation.
Who Should Apply?
This program is ideal for high school graduates with an interest in societal issues, market dynamics, and policy-making. It also suits individuals aspiring for careers in research, data analysis, public policy, or further studies in economics, finance, or business administration in the Indian context.
Why Choose This Course?
Graduates of this program can expect diverse career paths in India, including roles as economic analysts, data researchers, policy consultants, or financial advisors. Entry-level salaries typically range from INR 3-6 lakhs annually, with growth trajectories leading to senior positions in government, banking, research, and corporate sectors.
Student Success Practices
Foundation Stage
Strengthen Core Economic Principles- (Semester 1-2)
Actively engage with microeconomics and statistical methods from the beginning. Utilize online resources like NPTEL for introductory economics, Khan Academy, and academic journals to supplement classroom learning, building a robust conceptual base critical for advanced topics and future applications.
Tools & Resources
NPTEL (for introductory economics), Khan Academy, Academic journals
Career Connection
A strong foundation ensures readiness for complex economic analysis roles and higher studies, crucial for various career paths in India.
Develop Quantitative Aptitude- (Semester 1-2)
Focus on understanding statistical concepts and their application in economics. Practice problem-solving regularly using textbooks, online quizzes, and specialized software if introduced. Consider joining college math/statistics clubs to enhance analytical skills, vital for economics and data-driven roles in India.
Tools & Resources
Textbooks, Online quizzes, College math/statistics clubs
Career Connection
Quantitative skills are highly valued in roles like economic analysis, market research, and data science, leading to better placement opportunities.
Cultivate Effective Study Habits- (Semester 1-2)
Form study groups with peers to discuss complex topics, clarify doubts, and prepare for examinations. Regularly revise class notes, solve past papers, and seek guidance from faculty. This collaborative learning approach helps solidify understanding and improve academic performance.
Tools & Resources
Study groups, Past papers, Faculty mentorship
Career Connection
Strong academic performance and deep understanding lay the groundwork for competitive exams and higher education pursuits.
Intermediate Stage
Engage with Real-World Economic Issues- (Semester 3-5)
Apply macroeconomic theories and development economics concepts to current events in India. Read economic newspapers (e.g., The Economic Times, Business Standard), follow government policy announcements, and participate in departmental seminars to connect theory with practical challenges.
Tools & Resources
The Economic Times, Business Standard, RBI publications
Career Connection
Develops practical understanding and contextual knowledge, valuable for policy analysis, journalism, and consulting roles in the Indian market.
Explore Elective Specializations- (Semester 3-5)
Carefully choose Discipline Specific Electives (DSEs) based on your career interests, such as Public Economics, Environmental Economics, or Mathematical Economics. Utilize online courses from platforms like Coursera (e.g., through SWAYAM-NPTEL if accessible) to delve deeper into chosen areas and gain a competitive edge.
Tools & Resources
SWAYAM-NPTEL, Coursera, Departmental advisors
Career Connection
Specialized knowledge enhances employability in niche areas and prepares for advanced studies in a chosen field.
Seek Internships and Research Opportunities- (Semester 3-5)
Proactively search for internships with local NGOs, research firms, or startups working on economic issues in Ahmedabad or Gujarat. Participate in faculty-led research projects, even small ones, to gain practical exposure, apply theoretical knowledge, and build a strong resume for future placements.
Tools & Resources
College placement cell, Online internship portals, Faculty members
Career Connection
Internships provide crucial industry experience and networking opportunities, significantly boosting placement prospects in relevant sectors.
Advanced Stage
Master Indian Economy and International Trade- (Semester 6)
Focus intensely on the intricacies of the Indian economy and global trade dynamics, which are directly relevant for careers in India. Prepare case studies on Indian industries, trade agreements, and economic policies to demonstrate analytical depth in interviews and competitive exams.
Tools & Resources
Economic Survey of India, Budget documents, RBI reports
Career Connection
In-depth knowledge of the Indian and global economy is critical for roles in government, foreign trade, international organizations, and financial institutions.
Prepare for Higher Studies and Placements- (Semester 6)
Identify target roles (e.g., economic analyst, data scientist, research associate) or postgraduate programs (MA Economics, MBA). Begin preparing for competitive exams like UPSC, RBI Grade B, or entrance tests for PG programs. Attend career guidance workshops and mock interviews organized by the college.
Tools & Resources
Career counseling cell, Mock interview platforms, Exam prep materials
Career Connection
Strategic preparation increases chances of securing desirable placements or admission to top postgraduate programs, aligning with long-term career goals.
Build Professional Network and Portfolio- (Semester 6)
Attend economic conferences, webinars, and alumni meet-ups to network with professionals and gain industry insights. Develop a portfolio of academic projects, research papers, or internship experiences to showcase skills and expertise to potential employers or academic institutions.
Tools & Resources
LinkedIn, Professional conferences, Alumni network
Career Connection
A strong professional network and a compelling portfolio are invaluable for career advancement, mentorship opportunities, and job referrals.
Program Structure and Curriculum
Eligibility:
- 10+2 (Higher Secondary Examination) from a recognized board
Duration: 3 years / 6 semesters
Credits: Credits not specified
Assessment: Internal: 30%, External: 70%
Semester-wise Curriculum Table
Semester 1
| Subject Code | Subject Name | Subject Type | Credits | Key Topics |
|---|---|---|---|---|
| EC-01 | Micro Economics - I | Core | 4 | Nature and Scope of Economics, Demand and Supply Analysis, Elasticity of Demand and Supply, Consumer Behavior Theories (Utility, Indifference Curve), Production Functions and Cost Concepts |
| EC-02 | Introduction to Statistical Methods for Economics - I | Core | 4 | Introduction to Statistics and Data, Methods of Data Collection and Presentation, Measures of Central Tendency (Mean, Median, Mode), Measures of Dispersion (Range, SD, Variance), Basic Probability Concepts |
Semester 2
| Subject Code | Subject Name | Subject Type | Credits | Key Topics |
|---|---|---|---|---|
| EC-03 | Micro Economics - II | Core | 4 | Cost and Revenue Concepts, Market Structures (Perfect Competition, Monopoly), Monopolistic Competition and Oligopoly, Factor Pricing (Rent, Wages), Interest and Profit Theories |
| EC-04 | Introduction to Statistical Methods for Economics - II | Core | 4 | Skewness and Kurtosis, Correlation Analysis, Regression Analysis, Index Numbers (Construction and Uses), Introduction to Time Series Analysis |
Semester 3
| Subject Code | Subject Name | Subject Type | Credits | Key Topics |
|---|---|---|---|---|
| EC-05 | Macro Economics - I | Core | 4 | Introduction to Macroeconomics, National Income Accounting, Classical Theory of Employment, Keynesian Theory of Employment and Income, Consumption and Investment Functions |
| EC-06 | Development Economics - I | Core | 4 | Economic Growth vs. Development, Characteristics of Underdeveloped Economies, Theories of Development (Rostow, Lewis, Nurkse), Poverty and Inequality Concepts, Human Development Index |
| EC-DSE-1A | Economics of Infrastructure - I | Elective (Discipline Specific Elective) | 4 | Concept of Infrastructure, Social and Economic Infrastructure, Energy Sector Economics and Policy, Transport Sector Economics (Road, Rail, Air), Communication Infrastructure and Regulation |
| EC-DSE-1B | Mathematical Economics - I | Elective (Discipline Specific Elective) | 4 | Basic Concepts (Functions, Relations, Graphs), Differentiation in Economics (Marginal Concepts), Optimization Techniques (Max/Min), Cost and Revenue Functions, Elasticity Measures using Calculus |
| EC-DSE-1C | History of Economic Thought - I | Elective (Discipline Specific Elective) | 4 | Early Economic Thought, Mercantilism and Physiocracy, Adam Smith and Classical Economics, Ricardian Economics and Distribution Theory, Malthusian Theory of Population |
Semester 4
| Subject Code | Subject Name | Subject Type | Credits | Key Topics |
|---|---|---|---|---|
| EC-07 | Macro Economics - II | Core | 4 | Money and Banking (Functions of Money, Supply, Demand), Theories of Inflation and Control Measures, Business Cycles (Phases, Causes), Monetary Policy (Tools, Effectiveness), Fiscal Policy (Objectives, Instruments) |
| EC-08 | Development Economics - II | Core | 4 | Theories of Underdevelopment (Big Push, Critical Minimum Effort), Dual Economy Models (Lewis Model), Role of Capital and Technology in Development, Population and Human Capital Development, Economic Planning Strategies |
| EC-DSE-2A | Economics of Infrastructure - II | Elective (Discipline Specific Elective) | 4 | Health Sector Economics and Policy, Education Sector Economics and Financing, Housing and Urban Development, Water Supply and Sanitation Infrastructure, Social Security Infrastructure |
| EC-DSE-2B | Mathematical Economics - II | Elective (Discipline Specific Elective) | 4 | Integration in Economics (Consumer, Producer Surplus), Differential Equations in Economic Models, Input-Output Analysis, Introduction to Linear Programming, Game Theory (Basic Concepts and Applications) |
| EC-DSE-2C | History of Economic Thought - II | Elective (Discipline Specific Elective) | 4 | Neoclassical Economics (Marshall, Walras), Keynesian Revolution and its Legacy, Monetarism and Supply-Side Economics, Rational Expectations Theory, Indian Economic Thought (Gokhale, Gandhi, Ambedkar) |
Semester 5
| Subject Code | Subject Name | Subject Type | Credits | Key Topics |
|---|---|---|---|---|
| EC-09 | Indian Economy - I | Core | 4 | Features of Indian Economy (Demographic Profile), Economic Reforms in India (1991 onwards), Agriculture Sector (Structure, Problems, Policy), Industrial Sector (Growth, Performance, Policy), Role of Public and Private Sectors |
| EC-10 | International Economics - I | Core | 4 | Theories of International Trade (Ricardian, Heckscher-Ohlin), Terms of Trade, Trade Policy Instruments (Tariffs, Quotas), Balance of Payments (Components, Disequilibrium), Foreign Exchange Market and Exchange Rates |
| EC-DSE-3A | Public Economics - I | Elective (Discipline Specific Elective) | 4 | Role of Government in the Economy, Public Goods and Externalities, Public Expenditure Theories and Classification, Public Revenue Sources, Principles of Taxation and Tax Reforms |
| EC-DSE-3B | Environmental Economics - I | Elective (Discipline Specific Elective) | 4 | Environment and Economy Interaction, Environmental Pollution (Air, Water, Noise), Resource Depletion and Scarcity, Valuation of Environmental Goods and Services, Sustainable Development Concepts and Indicators |
| EC-DSE-3C | Financial Economics - I | Elective (Discipline Specific Elective) | 4 | Overview of Financial System, Money Market Instruments, Capital Market Structure and Instruments, Financial Instruments (Bonds, Stocks, Derivatives), Role of SEBI and Financial Regulation |
Semester 6
| Subject Code | Subject Name | Subject Type | Credits | Key Topics |
|---|---|---|---|---|
| EC-11 | Indian Economy - II | Core | 4 | Service Sector in India (Growth, Role), Foreign Trade and Investment in India, Poverty, Unemployment, and Inequality in India, Regional Disparities and Urbanization, Recent Economic Policies and Challenges |
| EC-12 | International Economics - II | Core | 4 | Exchange Rate Regimes (Fixed, Flexible), International Financial Institutions (IMF, World Bank), World Trade Organization (WTO) and Trade Blocs, International Capital Flows and Foreign Direct Investment, Global Economic Challenges |
| EC-DSE-4A | Public Economics - II | Elective (Discipline Specific Elective) | 4 | Public Debt Management, Fiscal Federalism in India, Budgeting and Fiscal Policy, Tax Reforms in India (GST), Public Sector Enterprises and Disinvestment |
| EC-DSE-4B | Environmental Economics - II | Elective (Discipline Specific Elective) | 4 | Environmental Policy Instruments (Command and Control, Market-based), Climate Change Economics and Policy, Green Accounting and Sustainable Development, International Environmental Agreements, Cost-Benefit Analysis of Environmental Projects |
| EC-DSE-4C | Financial Economics - II | Elective (Discipline Specific Elective) | 4 | Commercial Banking Operations and Management, Central Banking (RBI Functions, Monetary Policy), Non-Banking Financial Companies (NBFCs), Financial Sector Reforms in India, Derivatives Market (Futures, Options) |
