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M-A in Economic Studies And Planning at Jawaharlal Nehru University
Delhi, Delhi
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About the Specialization
What is Economic Studies and Planning at Jawaharlal Nehru University Delhi?
This Economic Studies and Planning (M.A. Economics) program at Jawaharlal Nehru University (JNU) focuses on providing a rigorous foundation in advanced economic theory and quantitative methods, crucial for understanding complex economic phenomena. The program emphasizes a critical perspective on development challenges, particularly in the Indian context, integrating diverse theoretical approaches with empirical analysis. It prepares students for research, policy formulation, and analytical roles in a rapidly evolving global and Indian economy.
Who Should Apply?
This program is ideal for fresh graduates with a strong undergraduate background in economics or allied quantitative fields who aspire to pursue higher academic research, join policy think tanks, or work with national and international development organizations. It also caters to professionals seeking to enhance their analytical skills for roles in government, NGOs, or the private sector, and career changers transitioning into economic research or policy analysis in India.
Why Choose This Course?
Graduates of this program can expect to secure roles as economic analysts, researchers, policy advisors, and consultants in leading government bodies like NITI Aayog, RBI, or international organizations like the World Bank and IMF. In India, career paths extend to financial services, data analytics firms, and academic positions. Entry-level salaries can range from INR 6-10 LPA, with experienced professionals earning significantly more, reflecting the high demand for skilled economists in India''''s growing economy.
Student Success Practices
Foundation Stage
Master Core Economic Theories- (Semester 1-2)
Dedicate significant time to thoroughly understand the foundational Microeconomics, Macroeconomics, and Development Economics theories. Form study groups with peers to discuss complex concepts and engage in problem-solving sessions. Utilize textbooks recommended by faculty and supplemental online resources from platforms like Coursera (for ''''Microeconomics'''' or ''''Macroeconomics'''' specializations) to solidify understanding beyond classroom lectures.
Tools & Resources
Core Textbooks (e.g., Mas-Colell, Romer), Peer Study Groups, Coursera/edX Economics courses, JSTOR for academic papers
Career Connection
A strong theoretical foundation is indispensable for all advanced economic roles, providing the analytical framework for policy analysis, research, and effective problem-solving in any economic domain, crucial for excelling in competitive exams or research interviews.
Build Quantitative & Statistical Proficiency- (Semester 1-2)
Focus intensely on Quantitative Methods, mastering mathematical and statistical tools. Practice extensively with problem sets, attend extra tutorials, and consider using software like R or Python for basic statistical exercises. Regularly review concepts of calculus, linear algebra, and probability, which are critical for advanced econometrics and modeling. Engage with online tutorials on platforms like DataCamp for R/Python basics.
Tools & Resources
R/Python programming, DataCamp/Kaggle for practical exercises, Mathematics and Statistics textbooks, Faculty consultation hours
Career Connection
Strong quantitative skills are highly sought after by analytics firms, financial institutions, and research organizations in India, enabling roles as data analysts, quantitative researchers, and business intelligence specialists.
Engage in Academic Discussions and Debates- (Semester 1-2)
Actively participate in classroom discussions, seminars, and departmental talks. Prepare questions, critically evaluate different economic viewpoints, and articulate your arguments effectively. Join or form informal discussion clubs to debate current economic issues in India and globally. This fosters critical thinking and communication skills essential for academic and professional success.
Tools & Resources
JNU Centre for Economic Studies and Planning seminars, Economic Times/Livemint for current affairs, Academic journals accessible via JNU library, Debate clubs
Career Connection
Developing strong communication and critical thinking skills is vital for presenting research findings, influencing policy discussions, and leading teams in various economic capacities, improving chances in group discussions during placements.
Intermediate Stage
Undertake Research Assistantships or Internships- (Semester 3-4 (during semester breaks))
Seek out opportunities for research assistantships with JNU faculty or internships at reputable Indian economic research institutions, policy think tanks (e.g., NIPFP, ICRIER), or the Reserve Bank of India. This provides practical experience in data collection, analysis, and report writing, bridging theoretical knowledge with real-world application. Leverage the JNU placement cell and faculty networks.
Tools & Resources
JNU Placement Cell, Networking with faculty, LinkedIn, Websites of Indian research institutions
Career Connection
Internships offer invaluable industry exposure, build a professional network, and provide a strong resume builder for subsequent job applications in the economic and policy sectors, significantly boosting employability in India.
Specialize in a Niche through Electives- (Semester 3)
Strategically choose elective courses to develop a specialization area (e.g., Econometrics, Development Economics, International Trade, Public Finance) that aligns with your career aspirations. Dive deeper into the literature of your chosen field, attending specialized workshops or conferences. This shows focused expertise to potential employers or for future doctoral studies.
Tools & Resources
Detailed course outlines for electives, Reviewing past research papers from your chosen field, Faculty advising for elective choices, Specialized webinars/conferences
Career Connection
A specialized skill set makes you a more attractive candidate for targeted roles in niche areas like econometric modeling, rural development, or fiscal policy, commanding higher demand and potentially better compensation in the Indian job market.
Develop Advanced Econometric/Statistical Software Skills- (Semester 3-4)
Go beyond basic statistics and master advanced econometric software like Stata, EViews, or R/Python for complex data analysis, time series modeling, and panel data regressions. Work on real datasets, perhaps from government sources like NSSO or MOSPI. Completing a project using these tools demonstrates practical econometric capabilities. Consider certifications if available.
Tools & Resources
Stata/EViews software, Official statistical data sources (NSSO, MOSPI, RBI), Online tutorials/courses for advanced software, Applied econometrics textbooks
Career Connection
Proficiency in advanced statistical software is a critical skill for roles in economic research, data science, and financial modeling across various Indian industries, enhancing your analytical and quantitative profile.
Advanced Stage
Excel in Dissertation/Research Project- (Semester 4)
Treat your dissertation as a capstone project. Choose a topic of high relevance to Indian economic issues, conduct thorough research, apply robust analytical methods, and produce a high-quality academic paper. Actively engage with your supervisor, present your work in departmental seminars, and aim for publication in a working paper series. This demonstrates independent research capability.
Tools & Resources
JNU Library (extensive research databases), Statistical software, Academic writing guides, Supervisor guidance
Career Connection
A strong dissertation significantly enhances your profile for PhD admissions, research positions at think tanks, or analytical roles requiring independent problem-solving and rigorous analysis.
Network and Attend Industry Events- (Semester 3-4)
Actively network with alumni, faculty, and professionals from relevant economic and policy sectors in India. Attend economic conferences, workshops, and job fairs. Leverage JNU''''s strong alumni network on platforms like LinkedIn. Participate in mock interviews and CV review sessions organized by the placement cell to refine your job search strategy.
Tools & Resources
LinkedIn, JNU Alumni Network, Economic conferences (e.g., TIES, IEFS India), JNU career services
Career Connection
Networking opens doors to hidden job opportunities, provides mentorship, and helps you understand industry expectations, crucial for securing placements in a competitive Indian job market.
Prepare for Competitive Examinations and Interviews- (Semester 4)
For those aiming for civil services, RBI Grade B, or other government economic positions, start dedicated preparation early. For private sector roles, practice case studies, quantitative aptitude, and behavioral interview questions. Tailor your resume and cover letters to specific job descriptions, highlighting relevant coursework, projects, and skills. Participate in university-organized placement drives.
Tools & Resources
Competitive exam prep materials, Mock interview platforms, Company-specific interview guides, JNU Placement Cell resources
Career Connection
Strategic preparation ensures you are well-equipped to navigate the demanding selection processes of top employers in India, maximizing your chances of securing desired roles in government, finance, or research.
Program Structure and Curriculum
Eligibility:
- B.A./B.Sc. with Economics as a subject or B.Com/B.E./B.Tech. with at least 50% marks in aggregate. (As per JNU e-Prospectus 2023-24 for M.A. (Economics))
Duration: 4 semesters (2 years)
Credits: Minimum 64 credits Credits
Assessment: Internal: 50%, External: 50%
Semester-wise Curriculum Table
Semester 1
| Subject Code | Subject Name | Subject Type | Credits | Key Topics |
|---|---|---|---|---|
| EC 401 | Microeconomic Theory-I | Core | 4 | Consumer Behaviour Theory, Theory of Production and Costs, Market Structures (Perfect Competition, Monopoly), General Equilibrium Analysis, Welfare Economics Fundamentals |
| EC 402 | Macroeconomic Theory-I | Core | 4 | Classical Macroeconomic Theory, Keynesian Revolution and IS-LM Model, Consumption and Investment Theories, Money, Banking and Inflation, Open Economy Macroeconomics Basics |
| EC 403 | Quantitative Methods-I | Core | 4 | Matrix Algebra and Determinants, Differential Calculus and Optimization, Integral Calculus and Applications, Difference Equations, Basic Probability Theory |
| EC 404 | Development Economics-I | Core | 4 | Concept and Measurement of Development, Historical Patterns of Development, Theories of Economic Growth (Harrod-Domar, Solow), Poverty, Inequality and Malnutrition, Population Growth and Economic Development |
Semester 2
| Subject Code | Subject Name | Subject Type | Credits | Key Topics |
|---|---|---|---|---|
| EC 405 | Microeconomic Theory-II | Core | 4 | Choice Under Uncertainty, Game Theory Fundamentals (Nash Equilibrium), Market Failures (Externalities, Public Goods), Asymmetric Information (Moral Hazard, Adverse Selection), Contract Theory Basics |
| EC 406 | Macroeconomic Theory-II | Core | 4 | Dynamic Macroeconomic Models, Rational Expectations Hypothesis, New Classical and New Keynesian Economics, Endogenous Growth Theory, Fiscal and Monetary Policy Debates |
| EC 407 | Quantitative Methods-II | Core | 4 | Statistical Inference and Estimation, Hypothesis Testing (t-test, F-test, Chi-square), Simple and Multiple Regression Analysis, Time Series Analysis Basics, Index Numbers and National Income Accounting |
| EC 408 | Development Economics-II | Core | 4 | Role of State and Markets in Development, Development Planning and Policies, Human Capital and Health Economics, International Development Assistance, Sustainable Development Challenges |
Semester 3
| Subject Code | Subject Name | Subject Type | Credits | Key Topics |
|---|---|---|---|---|
| EC 409 | Indian Economic Problems | Elective | 4 | Indian Economy: Growth and Structural Change, Agriculture Sector: Policy and Performance, Industrial Sector: Reforms and Challenges, External Sector: Trade and Payments, Fiscal Federalism and Public Finance in India |
| EC 410 | Theory of Economic Growth | Elective | 4 | Solow-Swan Model, Overlapping Generations Models, Endogenous Growth Theory, Poverty Traps and Inequality, Role of Institutions and Human Capital |
| EC 411 | History of Economic Thought | Elective | 4 | Mercantilism and Physiocracy, Classical Political Economy (Smith, Ricardo, Marx), Marginal Revolution and Neoclassical Economics, Keynesian and Post-Keynesian Thought, Contemporary Economic Debates |
| EC 412 | Mathematical Economics | Elective | 4 | Static and Dynamic Optimization, Difference and Differential Equations, Input-Output Analysis, Game Theory Applications, Applications in Micro and Macro Models |
| EC 413 | International Trade Theory and Policy | Elective | 4 | Classical Trade Theories (Ricardo, Heckscher-Ohlin), New Trade Theories, Terms of Trade and Economic Growth, Trade Policy Instruments (Tariffs, Quotas), International Economic Institutions (WTO, IMF) |
| EC 414 | Public Economics | Elective | 4 | Role of Government in the Economy, Public Goods and Externalities, Optimal Taxation Theory, Public Expenditure Analysis, Fiscal Policy and Budgeting |
| EC 415 | Money and Finance | Elective | 4 | Theories of Money Demand and Supply, Structure of Financial Markets, Monetary Policy and its Transmission, Interest Rate Determination, Banking and Financial Crises |
| EC 416 | Econometrics-I | Elective | 4 | Classical Linear Regression Model (CLRM), Estimation and Hypothesis Testing in CLRM, Violations of CLRM Assumptions (Multicollinearity, Heteroscedasticity), Dummy Variables, Qualitative Response Regression Models |
Semester 4
| Subject Code | Subject Name | Subject Type | Credits | Key Topics |
|---|---|---|---|---|
| EC 450 | Dissertation / Research Project | Core | 4 | Research Proposal Development, Literature Review and Research Design, Data Collection and Analysis Methods, Report Writing and Presentation, Independent Research in Economics |
| EC 417 | Agricultural Economics | Elective | 4 | Structure of Indian Agriculture, Agricultural Production and Productivity, Land Reforms and Tenancy, Agricultural Marketing and Prices, Agricultural Policy and Food Security |
| EC 418 | Industrial Economics | Elective | 4 | Industrial Organization Theories, Market Structure and Performance, Industrial Location and Agglomeration, Industrial Policy in India, Mergers, Acquisitions and Competition Policy |
| EC 419 | Environmental Economics | Elective | 4 | Environmental Problems and Economic Growth, Market Failure and Environmental Externalities, Valuation of Environmental Goods, Environmental Policy Instruments, Climate Change Economics |
| EC 420 | Economics of Social Sector | Elective | 4 | Poverty and Income Distribution, Economics of Education, Economics of Health Care, Gender and Development, Social Security and Welfare Programs |
| EC 421 | Political Economy of Development | Elective | 4 | State and Market in Development, Institutions and Economic Performance, Political Regimes and Economic Outcomes, Corruption and Rent-Seeking, Conflict and Development |
| EC 422 | Labour Economics | Elective | 4 | Labour Supply and Demand, Wage Determination and Inequality, Human Capital Theory, Trade Unions and Collective Bargaining, Unemployment and Labour Market Policies |
| EC 423 | Game Theory | Elective | 4 | Normal Form Games and Nash Equilibrium, Extensive Form Games and Subgame Perfect Equilibrium, Repeated Games, Games with Incomplete Information, Applications in Industrial Organization and Political Economy |
| EC 424 | Financial Markets and Institutions | Elective | 4 | Structure and Functions of Financial Markets, Debt and Equity Markets, Financial Intermediation, Regulation of Financial Markets, Risk Management in Finance |
| EC 425 | Economics of Infrastructure | Elective | 4 | Theories of Infrastructure Development, Financing Infrastructure Projects, Regulation of Infrastructure Sectors, Public-Private Partnerships, Case Studies in India (Transport, Energy, Telecom) |
| EC 426 | Economics of Information | Elective | 4 | Information Asymmetry, Adverse Selection and Signaling, Moral Hazard and Incentives, Information Technology and Market Structure, Economics of Networks |
| EC 427 | Econometrics-II | Elective | 4 | Time Series Econometrics (Stationarity, Unit Roots), Vector Autoregressive (VAR) Models, Cointegration, Panel Data Econometrics, Simultaneous Equation Models |
