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M-A in Economics at Guru Nanak College (Autonomous)
Chennai, Tamil Nadu
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About the Specialization
What is Economics at Guru Nanak College (Autonomous) Chennai?
This M.A. Economics program at Guru Nanak College focuses on equipping students with advanced theoretical knowledge and analytical tools essential for understanding complex economic phenomena. With a strong emphasis on quantitative techniques and policy analysis, the curriculum is designed to address contemporary challenges facing the Indian economy, preparing graduates for impactful roles in research and policy.
Who Should Apply?
This program is ideal for fresh graduates in Economics, Mathematics, Statistics, Commerce, or Business Administration seeking to deepen their understanding of economic principles. It also caters to aspiring researchers, policy analysts, and academicians, as well as working professionals looking to enhance their analytical skills for career advancement in both public and private sectors in India.
Why Choose This Course?
Graduates of this program can expect diverse career paths in India, including roles as economists in government agencies, data analysts in consultancies, researchers in think tanks, and faculty in educational institutions. Entry-level salaries range from INR 4-7 lakhs per annum, growing significantly with experience. The program provides a strong foundation for pursuing M.Phil or Ph.D. in Economics.
Student Success Practices
Foundation Stage
Master Core Economic Theories- (Semester 1-2)
Focus on building a strong foundation in Advanced Microeconomics, Macroeconomics, and Monetary Economics. Attend all lectures, actively participate in discussions, and solve textbook problems thoroughly. Form study groups to clarify concepts and prepare for competitive exams.
Tools & Resources
Standard textbooks (e.g., Varian for Micro, Mankiw for Macro), Online resources like NPTEL lectures, Khan Academy, Academic journals available through college library
Career Connection
A deep understanding of core theories is crucial for all advanced economic roles, competitive exams (UPSC, RBI, IES), and higher studies.
Develop Quantitative and Statistical Skills- (Semester 1-2)
Pay special attention to ''''Statistical Methods for Economics'''' and ''''Computer Applications in Economics''''. Practice using software like MS Excel for data analysis and visualization. Work on problem sets diligently and understand the application of statistical tools to economic data.
Tools & Resources
MS Excel, Basic statistical software (e.g., R, Python with Pandas/Numpy - introductory self-learning), Tutorials on data analysis for economists
Career Connection
Essential for roles as data analysts, researchers, and financial economists. Strong quantitative skills are highly valued in the Indian job market.
Engage in Economic Debates and Current Affairs- (Semester 1-2)
Regularly read economic newspapers (e.g., The Economic Times, Business Standard, Mint) and magazines (e.g., EPW, Frontline). Participate in department seminars, debates, and quizzes to develop critical thinking about current economic issues in India and globally.
Tools & Resources
Leading Indian business dailies, RBI bulletins, Economic Survey of India, NITI Aayog reports, Departmental events
Career Connection
Enhances understanding of real-world policy implications, improves communication skills, and is vital for interviews and policy-oriented careers.
Intermediate Stage
Specialize through Electives and Applied Learning- (Semester 3)
Choose department electives like Environmental, Industrial, or Financial Economics strategically based on career interests. Apply theoretical knowledge from core subjects like Econometrics and International Economics to real-world case studies and Indian policy scenarios.
Tools & Resources
Specialized journals (e.g., Indian Economic Review), Case study resources, Industry reports, Online courses on specific economic fields
Career Connection
Builds expertise in a chosen sub-field, making you more attractive to employers seeking specialized skills in areas like sustainable finance or industrial policy.
Network and Seek Internship Opportunities- (Semester 3)
Actively attend workshops, conferences, and guest lectures to network with faculty, alumni, and industry professionals. Proactively search for internships with research organizations, NGOs, government departments, or financial institutions in Chennai or other Indian cities.
Tools & Resources
LinkedIn, College career services, Alumni network, Internship platforms like Internshala, Corporate websites
Career Connection
Practical experience is invaluable for placements, providing real-world exposure and a competitive edge in the Indian job market.
Enhance Research and Econometric Skills- (Semester 3)
Deepen understanding of Econometrics. Practice statistical software (e.g., EViews, Stata, R, Python) to analyze real economic datasets. Start identifying potential research areas for your final project, focusing on contemporary Indian economic issues.
Tools & Resources
Econometrics textbooks (e.g., Gujarati, Wooldridge), Statistical software manuals and tutorials, Publicly available Indian economic data (e.g., MOSPI, RBI, NSSO)
Career Connection
Strong econometric skills are highly sought after in research, consulting, and data science roles within India and globally.
Advanced Stage
Execute a High-Quality Project- (Semester 4)
Dedicate significant effort to the final M.A. Project. Choose a relevant topic, conduct thorough research, apply appropriate methodologies (including econometric analysis if applicable), and write a well-structured report. Present your findings effectively.
Tools & Resources
Academic writing guides, Research software, Extensive library resources, Faculty mentorship
Career Connection
A strong project demonstrates independent research capability, analytical skills, and often becomes a key talking point in job interviews and for higher studies.
Prepare for Placements and Further Studies- (Semester 4)
Attend placement workshops, practice mock interviews, and refine your resume/CV. Explore opportunities for M.Phil/Ph.D. or competitive examinations (UPSC, RBI Grade B, IES). Focus on subjects like Demography and chosen electives for specialized interview questions.
Tools & Resources
Career counselling services, Online interview preparation platforms, Previous year question papers for competitive exams, University placement cell
Career Connection
Crucial for securing desirable placements in public sector undertakings, private firms, or gaining admission to prestigious academic programs.
Stay Updated on Policy and Global Trends- (Semester 4)
Continue to follow current economic events, government policies (especially in India), and global economic trends. This will provide context for your studies, help in interviews, and prepare you for a dynamic career in economics.
Tools & Resources
Reputable economic news sources, International organizations'''' reports (IMF, World Bank), Policy briefings, Think tank publications
Career Connection
Ensures you remain relevant and adaptable to changing economic landscapes, a valuable trait for any economist or policy analyst.
Program Structure and Curriculum
Eligibility:
- A candidate who has passed B.A. Degree Examination in Economics / Business Economics / Mathematics / Statistics / B.Com / BBA / BISM / B.Sc. IT (with Maths / Business Statistics / Business Maths as one of the subjects) of the University of Madras or an Examination of some other University accepted by the Syndicate as equivalent thereto shall be eligible for admission to the M.A. Degree Course in Economics.
Duration: 4 semesters / 2 years
Credits: 91 Credits
Assessment: Internal: 25%, External: 75%
Semester-wise Curriculum Table
Semester 1
| Subject Code | Subject Name | Subject Type | Credits | Key Topics |
|---|---|---|---|---|
| 20PEC01 | Advanced Microeconomics – I | Core | 4 | Demand Analysis, Theory of Production, Costs and Revenue, Market Structure, Pricing Practices |
| 20PEC02 | Macroeconomic Theory – I | Core | 4 | National Income, Consumption and Investment, Money Supply and Demand, IS-LM Model, Business Cycles |
| 20PEC03 | Monetary Economics | Core | 4 | Classical and Keynesian Monetary Theory, Demand for Money, Supply of Money, Inflation, Monetary Policy |
| 20PEC04 | Statistical Methods for Economics | Core | 4 | Data Collection and Presentation, Measures of Central Tendency and Dispersion, Correlation and Regression, Probability, Sampling and Hypothesis Testing |
| 20PEL01 | Skill Based Course 1: Economics for Competitive Examinations | Elective | 2 | Indian Economy Basics, Economic Survey and Budget, Public Finance, Monetary and Fiscal Policy, International Economics |
Semester 2
| Subject Code | Subject Name | Subject Type | Credits | Key Topics |
|---|---|---|---|---|
| 20PEC05 | Advanced Microeconomics – II | Core | 4 | Welfare Economics, Factor Pricing, General Equilibrium, Market Failures, Risk and Uncertainty |
| 20PEC06 | Macroeconomic Theory – II | Core | 4 | Theories of Growth, Trade Cycles, Open Economy Macroeconomics, Fiscal Policy, Rational Expectations |
| 20PEC07 | Public Economics | Core | 4 | Role of Government, Public Goods, Taxation Principles, Public Expenditure, Public Debt and Fiscal Federalism |
| 20PEC08 | Research Methodology in Economics | Core | 4 | Research Design, Data Collection Methods, Sampling Techniques, Report Writing, Statistical Inference |
| 20PEL02 | Skill Based Course 2: Computer Applications in Economics | Elective | 2 | MS Excel, Data Analysis, Graphical Presentation, Statistical Software Basics, Economic Modelling |
Semester 3
| Subject Code | Subject Name | Subject Type | Credits | Key Topics |
|---|---|---|---|---|
| 20PEC09 | International Economics | Core | 4 | Theories of International Trade, Terms of Trade, Commercial Policy, Balance of Payments, Exchange Rates |
| 20PEC10 | Econometrics | Core | 4 | Classical Linear Regression Model, Violations of Assumptions, Dummy Variables, Time Series Econometrics, Panel Data Models |
| 20PEC11 | Indian Economic Development and Policy | Core | 4 | Economic Growth in India, Agriculture and Industry, Population and Human Development, Planning and Reforms, Contemporary Issues |
| 20PEE01A | Department Elective - I: Environmental Economics | Elective | 4 | Environmental Problems, Valuation of Environmental Goods, Environmental Policy Instruments, Sustainable Development, Resource Management |
| 20PEL03 | Skill Based Course 3: Entrepreneurial Economics | Elective | 2 | Entrepreneurship Concepts, Business Plan, Funding Sources, Small Business Management, Innovation and Growth |
Semester 4
| Subject Code | Subject Name | Subject Type | Credits | Key Topics |
|---|---|---|---|---|
| 20PEC12 | Demography | Core | 4 | Population Theories, Population Growth, Fertility and Mortality, Migration, Population Policy |
| 20PEE02A | Department Elective - II: Financial Economics | Elective | 4 | Financial Markets, Portfolio Theory, Asset Pricing Models, Risk Management, Derivatives and Hedging |
| 20PEV01 | Value Education (Human Rights) | Compulsory | 2 | Concepts of Human Rights, Universal Declaration, Constitutional Provisions, Child Rights, Women''''s Rights |
| 20PEP01 | Project | Project | 5 | Research Design, Data Collection, Analysis and Interpretation, Report Writing, Presentation |
