.png&w=1920&q=75)
BACHELOR-OF-ARTS-HONOURS in Economics at Guru Nanak College
Dhanbad, Jharkhand
.png&w=1920&q=75)
About the Specialization
What is Economics at Guru Nanak College Dhanbad?
This Bachelor of Arts Honours program in Economics at Guru Nanak College, Dhanbad, focuses on providing a comprehensive understanding of economic principles, theories, and their real-world applications. The curriculum, aligned with the New Education Policy 2020, emphasizes analytical thinking and problem-solving relevant to the evolving Indian economy. It prepares students for diverse roles in sectors driven by economic data and policy.
Who Should Apply?
This program is ideal for fresh graduates from 10+2 seeking entry into economic research, data analysis, public policy, or finance. It also caters to individuals with a keen interest in understanding market dynamics, government policies, and global economic trends. Students aspiring for civil services or further studies in economics, management, or public administration will find this program beneficial.
Why Choose This Course?
Graduates of this program can expect to pursue career paths such as economic analyst, data scientist, market researcher, policy associate, or banking professional in India. Entry-level salaries typically range from INR 3-6 lakhs per annum, with significant growth potential up to INR 10-15 lakhs or more for experienced professionals in leading Indian companies and government roles. It also lays a strong foundation for UGC NET/JRF and competitive exams.
Student Success Practices
Foundation Stage
Build Strong Conceptual Foundations- (Semester 1-2)
Focus intently on mastering core microeconomics and macroeconomics concepts in Semesters 1 and 2. Utilize textbooks, online resources like NPTEL videos, and class discussions to clarify doubts. Form study groups to discuss complex theories and solve numerical problems together.
Tools & Resources
Core textbooks, NPTEL, Khan Academy, Peer study groups
Career Connection
A solid foundation is crucial for advanced courses and for competitive exams like UPSC, RBI Grade B, or IES that test fundamental economic understanding.
Enhance Communication & Digital Skills- (Semester 1-2)
Actively participate in Ability Enhancement and Skill Enhancement Courses. Practice public speaking, essay writing, and basic computer applications. Utilize online platforms for improving English proficiency and digital literacy, crucial for academic and professional success.
Tools & Resources
Toastmasters clubs, Coursera courses on communication, Microsoft Office tutorials
Career Connection
Strong communication and digital skills are highly valued in any industry, facilitating effective research presentations and corporate interactions, enhancing employability.
Explore Interdisciplinary Connections- (Semester 1-2)
Engage with Multidisciplinary and Minor courses to broaden your perspective. Understand how economics interacts with subjects like Political Science, History, or Sociology. This helps in developing a holistic view of societal problems and policy solutions.
Tools & Resources
Interdisciplinary academic journals, departmental seminars
Career Connection
A multidisciplinary approach prepares you for complex roles in public policy, development sector, or journalism, where understanding diverse factors is key.
Intermediate Stage
Develop Quantitative & Analytical Skills- (Semester 3-5)
Pay special attention to courses like Statistical Methods for Economics and Mathematical Methods for Economics. Practice extensively using statistical software for data analysis. Join college clubs focused on analytics or economics to apply theoretical knowledge.
Tools & Resources
R, Python, Excel, SPSS, NPTEL courses on Econometrics
Career Connection
These skills are critical for roles in data analytics, market research, financial modeling, and economic forecasting, which are high-demand areas in India.
Engage with Indian Economic Issues- (Semester 3-5)
Deep dive into the ''''Indian Economy'''' course and relate concepts to current economic events and policies in India. Follow business news, economic surveys, and reports from RBI, NITI Aayog, and Ministry of Finance to stay updated.
Tools & Resources
The Economic Survey of India, RBI publications, business newspapers like The Economic Times
Career Connection
Understanding the Indian economic landscape is vital for careers in government, public sector undertakings, and Indian corporates, enhancing relevance and impact.
Seek Practical Exposure via Internships- (Semester 4-6 (During breaks))
Actively look for short-term internships or project opportunities with local businesses, NGOs, or academic research centres during breaks. Even small projects provide valuable real-world application of economic theories and build your resume.
Tools & Resources
Internshala, LinkedIn, college placement cell, faculty networks
Career Connection
Internships provide practical experience, networking opportunities, and a competitive edge for placements, often converting into full-time roles.
Advanced Stage
Master Advanced Econometrics & Research- (Semester 7-8)
Focus intensely on Econometrics and your Research Project/Dissertation. Learn advanced statistical techniques and software. Develop a strong research question, collect data, and write a coherent research paper. Attend research workshops.
Tools & Resources
EViews, Stata, advanced R/Python libraries, academic databases like JSTOR, ResearchGate
Career Connection
Proficiency in econometrics and research is highly valued for roles in economic consulting, advanced data analysis, policy research, and higher education.
Specialize and Network Professionally- (Semester 7-8)
Strategically choose your Discipline Specific Electives based on your career interests (e.g., Managerial Economics for business, Demography for social policy). Attend economics conferences, webinars, and interact with professionals in your chosen field.
Tools & Resources
Professional bodies like Indian Economic Association, LinkedIn groups, industry events
Career Connection
Specialization makes you a desirable candidate for specific roles, while networking opens doors to opportunities and mentorship in your chosen niche.
Prepare Rigorously for Placements/Higher Studies- (Semester 6-8)
Start dedicated preparation for competitive exams (UPSC, RBI, IES), GRE/GMAT/CAT for MBA, or university entrance exams for MA/M.Sc Economics. Polish your resume, practice interview skills, and participate in mock interviews and group discussions.
Tools & Resources
Online test series, coaching institutes, university admission portals, career counseling services
Career Connection
Proactive and structured preparation significantly increases your chances of securing placements in top companies/government or gaining admission to prestigious postgraduate programs.
Program Structure and Curriculum
Eligibility:
- 10+2 or equivalent examination from a recognized board in any stream with minimum qualifying marks (as per VBU norms)
Duration: 4 years (8 semesters)
Credits: Approx. 160 credits (as per NEP 2020 guidelines for 4-year UG programs) Credits
Assessment: Internal: 25%, External: 75%
Semester-wise Curriculum Table
Semester 1
| Subject Code | Subject Name | Subject Type | Credits | Key Topics |
|---|---|---|---|---|
| BAEC MJ-101 | Microeconomics - I | Major (Core) | 4 | Basic Economic Problems, Demand and Supply Analysis, Consumer Behaviour, Production and Cost Analysis, Market Structures |
| MDC-1 | Multidisciplinary Course - 1 (e.g., Introduction to Indian Constitution) | Multidisciplinary | 3 | Constitutional Framework, Fundamental Rights, Directive Principles, Union and State Governments, Local Self-Government |
| AEC-1 | Ability Enhancement Course - 1 (e.g., English Communication) | Ability Enhancement | 2 | Communication Skills, Reading Comprehension, Writing Skills, Grammar and Vocabulary, Presentation Skills |
| VAC-1 | Value Added Course - 1 (e.g., Health & Wellness/Yoga Education) | Value Added | 2 | Holistic Health, Nutrition Basics, Stress Management, Yoga Practices, Mental Well-being |
| SEC-1 | Skill Enhancement Course - 1 (e.g., Digital Fluency) | Skill Enhancement | 3 | Computer Fundamentals, Operating Systems, Internet and Web Technologies, Cyber Security Basics, Microsoft Office Suite |
Semester 2
| Subject Code | Subject Name | Subject Type | Credits | Key Topics |
|---|---|---|---|---|
| BAEC MJ-102 | Macroeconomics - I | Major (Core) | 4 | National Income Accounting, Determination of Output and Employment, Inflation and Unemployment, Monetary and Fiscal Policies, Open Economy Macroeconomics |
| MN-1 | Minor Course - 1 (e.g., Political Science/History) | Minor | 3 | Political Theories, Indian Political System, World History, Ancient Civilizations, Colonialism |
| MDC-2 | Multidisciplinary Course - 2 (e.g., Basic Computer Skills) | Multidisciplinary | 3 | Word Processing, Spreadsheet Applications, Presentation Tools, Database Concepts, Email and Internet Usage |
| AEC-2 | Ability Enhancement Course - 2 (e.g., Environmental Science) | Ability Enhancement | 2 | Ecosystems, Biodiversity, Pollution Types, Climate Change, Sustainable Development |
| VAC-2 | Value Added Course - 2 (e.g., Indian Knowledge Tradition) | Value Added | 2 | Ancient Indian Sciences, Philosophical Schools, Arts and Literature, Traditional Medicine, Ethical Values |
| SEC-2 | Skill Enhancement Course - 2 (e.g., Communication Skills and Personality Development) | Skill Enhancement | 3 | Verbal Communication, Non-Verbal Cues, Interpersonal Skills, Public Speaking, Interview Techniques |
Semester 3
| Subject Code | Subject Name | Subject Type | Credits | Key Topics |
|---|---|---|---|---|
| BAEC MJ-201 | Microeconomics - II | Major (Core) | 4 | General Equilibrium Theory, Welfare Economics, Market Failures, Externalities and Public Goods, Information Asymmetry |
| BAEC MJ-202 | Indian Economy | Major (Core) | 4 | Structure of Indian Economy, Economic Planning in India, Agriculture and Industry, Poverty and Inequality, Recent Economic Reforms |
| MN-2 | Minor Course - 2 (e.g., Sociology/Psychology) | Minor | 3 | Social Institutions, Culture and Society, Social Change, Introduction to Psychology, Motivation and Emotion |
| SEC-3 | Skill Enhancement Course - 3 (e.g., Financial Literacy) | Skill Enhancement | 3 | Personal Finance, Budgeting and Saving, Investments Basics, Banking Services, Insurance Concepts |
Semester 4
| Subject Code | Subject Name | Subject Type | Credits | Key Topics |
|---|---|---|---|---|
| BAEC MJ-203 | Macroeconomics - II | Major (Core) | 4 | Theories of Consumption, Investment Theories, Business Cycles, Monetary and Fiscal Policy Analysis, International Financial Markets |
| BAEC MJ-204 | Statistical Methods for Economics | Major (Core) | 4 | Data Collection and Presentation, Measures of Central Tendency, Probability Theory, Sampling Methods, Correlation and Regression |
| MN-3 | Minor Course - 3 (e.g., Public Administration/Geography) | Minor | 3 | Public Policy, Bureaucracy, Administrative Ethics, Physical Geography, Human Geography |
| SEC-4 | Skill Enhancement Course - 4 (e.g., Data Analysis with Software) | Skill Enhancement | 3 | Introduction to R/Python for Data, Data Visualization, Descriptive Statistics using Software, Inferential Statistics using Software, Basic Econometrics with Software |
Semester 5
| Subject Code | Subject Name | Subject Type | Credits | Key Topics |
|---|---|---|---|---|
| BAEC MJ-301 | Mathematical Methods for Economics | Major (Core) | 4 | Functions and Graphs, Differential Calculus, Integral Calculus, Linear Algebra, Optimization Techniques |
| BAEC MJ-302 | Development Economics | Major (Core) | 4 | Theories of Economic Development, Poverty and Income Distribution, Human Capital and Development, Role of State and Markets, International Aid and Debt |
| GE-1 | Generic Elective - 1 (e.g., Environmental Economics) | Generic Elective | 3 | Environmental Problems, Market Failure and Environment, Environmental Valuation, Pollution Control Policies, Sustainable Development Goals |
| SEC-5 | Skill Enhancement Course - 5 (e.g., Research Methodology) | Skill Enhancement | 3 | Research Design, Data Collection Methods, Hypothesis Testing, Report Writing, Ethics in Research |
Semester 6
| Subject Code | Subject Name | Subject Type | Credits | Key Topics |
|---|---|---|---|---|
| BAEC MJ-303 | Public Finance | Major (Core) | 4 | Role of Government in Economy, Public Expenditure, Taxation Principles, Public Debt, Fiscal Federalism |
| BAEC MJ-304 | International Economics | Major (Core) | 4 | Theories of International Trade, Trade Policy Instruments, Balance of Payments, Exchange Rate Systems, International Economic Institutions |
| GE-2 | Generic Elective - 2 (e.g., Agricultural Economics) | Generic Elective | 3 | Agricultural Production, Farm Management, Agricultural Marketing, Rural Development, Food Security |
| R-1 | Research Project / Internship | Project/Internship | 4 | Project Design, Data Analysis, Report Writing, Presentation Skills, Practical Application |
Semester 7
| Subject Code | Subject Name | Subject Type | Credits | Key Topics |
|---|---|---|---|---|
| BAEC MJ-401 | Econometrics | Major (Core) | 4 | Regression Analysis, Estimation Methods, Classical Linear Regression Model, Problems in Regression Analysis, Time Series Econometrics |
| BAEC MJ-402 | Money and Banking | Major (Core) | 4 | Functions of Money, Theories of Money Supply, Commercial Banking, Central Banking, Monetary Policy |
| DSE-1 | Discipline Specific Elective - 1 (e.g., Managerial Economics) | Discipline Specific Elective | 3 | Decision Making in Business, Demand Forecasting, Pricing Strategies, Production Decisions, Capital Budgeting |
| DSE-2 | Discipline Specific Elective - 2 (e.g., Demography) | Discipline Specific Elective | 3 | Population Theories, Population Structure, Fertility and Mortality, Migration, Population Policies |
Semester 8
| Subject Code | Subject Name | Subject Type | Credits | Key Topics |
|---|---|---|---|---|
| BAEC MJ-403 | History of Economic Thought | Major (Core) | 4 | Mercantilism and Physiocracy, Classical School, Marxian Economics, Neoclassical Economics, Keynesian Revolution |
| BAEC MJ-404 | Economic Growth and Policy | Major (Core) | 4 | Theories of Economic Growth, Sources of Growth, Role of Technology, Growth Models, Growth vs. Development Debate |
| DSE-3 | Discipline Specific Elective - 3 (e.g., Behavioural Economics) | Discipline Specific Elective | 3 | Psychology of Economic Decisions, Biases and Heuristics, Nudging and Choice Architecture, Intertemporal Choice, Risk and Uncertainty |
| R-2 | Research Dissertation / Project | Research | 6 | Independent Research, Literature Review, Methodology Application, Data Interpretation, Thesis Writing |
