.png&w=1920&q=75)
PHD in Economics at INDIAN INSTITUTE OF MANAGEMENT RANCHI
Ranchi, Jharkhand
.png&w=1920&q=75)
About the Specialization
What is Economics at INDIAN INSTITUTE OF MANAGEMENT RANCHI Ranchi?
This Economics PhD program at IIM Ranchi focuses on developing rigorous researchers and thought leaders capable of addressing complex economic challenges relevant to India and globally. The program emphasizes advanced theoretical and empirical methods, equipping scholars to contribute original knowledge to academia, policy-making, and industry through deep dives into microeconomics, macroeconomics, econometrics, and specific applied areas.
Who Should Apply?
This program is ideal for candidates holding a strong Master''''s degree in Economics or related quantitative fields, fresh graduates aspiring for research careers, or professionals seeking to transition into academic or high-level research roles. It caters to individuals with a robust analytical aptitude, a passion for economic inquiry, and a commitment to sustained, independent scholarly work.
Why Choose This Course?
Graduates of this program can expect to pursue careers as faculty in prestigious academic institutions in India and abroad, research economists in policy think tanks, central banks, and international organizations, or high-level analysts in financial services. Starting salaries for PhD holders in India can range from INR 15-30 LPA in academia or research, with significant growth trajectories for those contributing to impactful research and policy.
Student Success Practices
Foundation Stage
Master Core Economic Theories and Quantitative Methods- (Semester 1-2)
Thoroughly grasp foundational microeconomics, macroeconomics, and econometrics. Attend all lectures, actively participate in discussions, and dedicate significant time to problem-solving. Form study groups to clarify concepts and tackle complex assignments collaboratively.
Tools & Resources
Standard PhD-level textbooks (e.g., Mas-Colell, Romer, Greene), Online resources like Coursera/edX for advanced math/stats review, IIM Ranchi''''s library resources
Career Connection
A strong foundation is critical for passing comprehensive exams and building sophisticated research models, directly impacting your ability to pursue impactful academic or policy research.
Develop Advanced Research Question Identification Skills- (Semester 1-2)
Engage proactively with faculty members to discuss potential research areas and identify gaps in existing literature. Read widely across various economic journals, participate in departmental seminars, and start formulating preliminary research questions even before the official proposal stage.
Tools & Resources
JSTOR, Google Scholar, Research papers shared by faculty, Departmental seminar series
Career Connection
Early identification of compelling research questions is the bedrock of a successful PhD thesis and future research career, setting the stage for impactful publications.
Cultivate Robust Academic Writing and Presentation Abilities- (Semester 1-2)
Practice writing concise and coherent research summaries and presenting ideas clearly. Seek feedback from professors on all written assignments and presentations. Attend workshops on academic writing and scientific communication to refine your skills.
Tools & Resources
Writing center resources (if available), Grammarly Business, LaTeX for academic typesetting, Presentation software (PowerPoint/Keynote)
Career Connection
Effective communication of complex economic ideas is crucial for publishing in top journals, securing grants, and teaching, directly enhancing your academic and professional prospects.
Intermediate Stage
Prepare Rigorously for Comprehensive Examinations- (End of Semester 4 / Beginning of Year 3)
Beyond coursework, dedicate focused time to revisiting all core concepts and methodologies in your specialization. Work through past exam papers, seek guidance from senior PhD students, and consider mock exams to simulate real testing conditions. This exam is a critical gateway to the thesis phase.
Tools & Resources
Past comprehensive exam papers (if provided), Review sessions with faculty/peers, Dedicated study schedule
Career Connection
Successfully clearing the comprehensive examination is a mandatory step, validating your foundational knowledge and readiness to proceed with independent thesis research, directly influencing your program progression.
Engage in Early Research and Collaboration with Faculty- (Year 3 (Post-Comprehensive Exam))
Post-coursework, actively seek opportunities to work on research projects with faculty members, even if not directly related to your final thesis. This provides invaluable experience in data collection, analysis, and academic publication processes, fostering mentorship relationships.
Tools & Resources
Statistical software (R, Python, Stata, SAS), Access to IIM Ranchi''''s research databases, Faculty research calls
Career Connection
Collaborative research often leads to co-authored publications, which significantly boost your CV for academic job markets and demonstrates your ability to contribute to scholarly work.
Start Building a Professional Network- (Year 3-4)
Attend national and international conferences, workshops, and seminars. Network with scholars, researchers, and professionals in your field of interest. Present preliminary research ideas to gain feedback and visibility within the academic community.
Tools & Resources
Conference attendance (with institutional support), LinkedIn, Academic social networks (ResearchGate), Departmental networking events
Career Connection
A strong network is vital for future collaborations, postdoctoral opportunities, academic job referrals, and staying updated with cutting-edge research in your specialization.
Advanced Stage
Develop a Robust and Defensible Thesis Proposal- (Year 4)
Work intensively with your supervisor to refine your research question, theoretical framework, methodology, and expected contributions. Be prepared for critical feedback and iterate on your proposal until it is solid and ready for defense before the doctoral committee.
Tools & Resources
Thesis supervisor''''s guidance, Literature review tools, Academic writing software, Mock proposal defenses
Career Connection
A well-structured and defended thesis proposal is the blueprint for your entire PhD, ensuring a clear path to completion and setting the foundation for high-quality, publishable research.
Aim for Early Publications in Peer-Reviewed Journals- (Year 4-5)
As you progress with your thesis, convert promising chapters or research papers into publishable manuscripts. Target reputable, peer-reviewed journals in economics. Embrace the revision process from reviewers'''' feedback as a learning opportunity.
Tools & Resources
Journal submission platforms, Academic integrity tools, Statistical software for final analysis, Institutional editorial support
Career Connection
Publications are the primary currency in academia. Having papers published or under review significantly strengthens your academic job market profile and demonstrates your research impact.
Prepare for the Academic Job Market and Career Placement- (Year 5 (leading up to defense))
Start preparing your academic CV, research statement, teaching philosophy, and cover letters well in advance of graduation. Practice job talks and chalk talks. Seek guidance from career services and faculty mentors on navigating the academic job market in India and internationally.
Tools & Resources
IIM Ranchi Career Development Office, Faculty mentors, Online job portals (e.g., EconJobMarket), Mock interviews and presentations
Career Connection
Proactive and thorough preparation for the job market is crucial for securing desirable faculty positions or research roles, ensuring a smooth transition from your PhD studies to a professional career.
