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MA in Economics at Lala Laxmi Narayan Degree College
Prayagraj, Uttar Pradesh
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About the Specialization
What is Economics at Lala Laxmi Narayan Degree College Prayagraj?
This MA Economics program at Lala Laxmi Narayan Degree College, Prayagraj, focuses on providing a robust understanding of economic theories and their application in real-world scenarios, particularly within the Indian context. The curriculum emphasizes analytical skills, quantitative methods, and policy analysis, preparing students for diverse roles. Its structure, aligned with Prof. Rajendra Singh University, aims to cultivate critical thinking and problem-solving abilities vital for economic challenges.
Who Should Apply?
This program is ideal for ambitious fresh graduates holding an undergraduate degree in Economics or a related discipline who aspire to build a career in economic research, policy-making, or financial analysis. It also caters to working professionals seeking to upskill their analytical capabilities in economics, or career changers aiming to transition into roles that demand a deep understanding of market dynamics and national economic trends.
Why Choose This Course?
Graduates of this program can expect diverse career paths in India, including roles as economists, researchers, data analysts, policy advisors, and financial analysts in government, public sector, and private organizations. Entry-level salaries typically range from INR 3-6 lakhs annually, with significant growth potential up to INR 10-15 lakhs or more for experienced professionals. The program also supports preparation for competitive exams like UPSC and RBI Grade B, and further academic pursuits.
Student Success Practices
Foundation Stage
Strengthen Core Economic Fundamentals- (Semester 1-2)
Dedicate significant time to thoroughly understand microeconomics, macroeconomics, and quantitative methods. Regularly solve numerical problems and conceptual questions to build a strong theoretical base. Form study groups to discuss complex topics and clarify doubts.
Tools & Resources
NPTEL courses for foundational economics, Standard textbooks (e.g., Mankiw, Pindyck & Rubinfeld), Online platforms like Khan Academy for math/stats refreshers
Career Connection
A solid foundation is crucial for excelling in subsequent specialized courses and forms the basis for analytical roles in any economic field.
Develop Quantitative and Statistical Skills- (Semester 1-2)
Focus on mastering the mathematical and statistical tools taught in Quantitative Methods and Econometrics. Practice using statistical software (e.g., Excel, R/Python basics for data handling) for basic analysis. Attend workshops on data visualization and interpretation.
Tools & Resources
Coursera/edX courses on R or Python for data analysis, GeeksforGeeks, Analytics Vidhya for practical problem-solving
Career Connection
Essential for roles in economic research, data analytics, and financial modeling, which are highly sought after in the Indian job market.
Engage with Indian Economic Policy Discussions- (Semester 1-2)
Read national newspapers (e.g., The Economic Times, Business Standard) and reputable economic journals/blogs regularly to stay updated on current Indian economic policies and debates. Participate in college seminars or debates on economic issues.
Tools & Resources
RBI website, NITI Aayog reports, Livemint, The Hindu (Business section), Economic podcasts
Career Connection
Cultivates an informed perspective crucial for roles in policy analysis, government administration, and economic journalism.
Intermediate Stage
Deep Dive into Chosen Specialization- (Semester 3)
Beyond coursework, explore additional readings, research papers, and case studies related to your chosen specialization (e.g., Quantitative Economics, Financial Economics). Participate in webinars or online courses to gain deeper insights into specific sub-fields.
Tools & Resources
JSTOR, Google Scholar for research papers, Specialized online courses from platforms like edX or Coursera, Industry-specific reports (e.g., RBI bulletins for Financial Economics)
Career Connection
Develops expert knowledge, making you a strong candidate for specific roles within your chosen economic sub-field and enhancing project work.
Pursue Relevant Internships or Mini-Projects- (Semester 3)
Actively seek out internships in economic research, data analytics, financial institutions, or NGOs. If formal internships are unavailable, undertake independent mini-projects using real-world economic data.
Tools & Resources
LinkedIn, Internshala, College placement cell for internship alerts, Government data portals (e.g., MOSPI, NSSO) for project data
Career Connection
Provides practical application of theoretical knowledge, builds a professional network, and strengthens your resume for future placements.
Enhance Communication and Presentation Skills- (Semester 3)
Practice articulating complex economic ideas clearly and concisely, both verbally and in writing. Actively participate in class presentations and peer reviews. Consider joining public speaking or debate clubs.
Tools & Resources
Toastmasters International (if available), College communication workshops, Practicing with peers
Career Connection
Essential for interviews, presenting research findings, and collaborating in professional environments.
Advanced Stage
Undertake a Robust Research Project- (Semester 4)
Approach the mandatory project paper (ECO-405) with utmost dedication. Choose a relevant topic, conduct thorough research, apply appropriate econometric/statistical tools, and write a high-quality report. Seek regular mentorship from faculty.
Tools & Resources
Statistical software (R, Python, Stata, EViews), Academic writing guides, University library resources, Faculty guidance
Career Connection
Showcases analytical rigor and independent research capabilities, highly valued by employers and for academic progression.
Network and Attend Career Fairs- (Semester 4)
Attend webinars, seminars, and career fairs organized by the college or industry bodies. Network with alumni, faculty, and industry professionals to explore career opportunities and gain insights into different sectors.
Tools & Resources
LinkedIn for professional networking, College alumni association, University career services
Career Connection
Opens doors to job opportunities, provides industry insights, and helps in informed career decision-making.
Master Interview and Aptitude Preparation- (Semester 4)
Dedicate time to prepare for common interview questions, brush up on economic concepts, quantitative aptitude, and current affairs. Practice mock interviews and aptitude tests.
Tools & Resources
Online aptitude test platforms (e.g., IndiaBix), Interview preparation guides, Economic current affairs websites, Mock interview sessions with college faculty or career mentors
Career Connection
Directly prepares you for successful placement interviews and competitive entrance exams for higher studies or government jobs.
Program Structure and Curriculum
Eligibility:
- Graduation with 45% marks in the respective subject (as per college website)
Duration: 4 semesters / 2 years
Credits: 80 Credits
Assessment: Internal: 25%, External: 75%
Semester-wise Curriculum Table
Semester 1
| Subject Code | Subject Name | Subject Type | Credits | Key Topics |
|---|---|---|---|---|
| ECO-101 | Micro Economics - I | Core | 4 | Basic Economic Problems, Demand Analysis, Production Theory, Cost Analysis, Market Structures, Pricing |
| ECO-102 | Macro Economics - I | Core | 4 | National Income, Classical & Keynesian Economics, Consumption & Investment, Money Demand & Supply, Monetary Policy |
| ECO-103 | Quantitative Methods for Economic Analysis | Core | 4 | Basic Mathematics, Differential Calculus, Matrix Algebra, Statistical Methods, Probability Theory, Index Numbers |
| ECO-104 | Indian Economic Policy | Core | 4 | Indian Economy Overview, Economic Planning, Agriculture, Industry & Services, Poverty & Inequality, Foreign Trade |
| ECO-105 | Economics of Growth and Development - I | Core | 4 | Economic Development Theories, Growth Models, Poverty & Inequality, Human Development, Sustainable Development |
Semester 2
| Subject Code | Subject Name | Subject Type | Credits | Key Topics |
|---|---|---|---|---|
| ECO-201 | Micro Economics - II | Core | 4 | Welfare Economics, Pareto Optimality, Externalities, Public Goods, Asymmetric Information, General Equilibrium |
| ECO-202 | Macro Economics - II | Core | 4 | Open Economy Macroeconomics, IS-LM Model, Inflation, Unemployment, Business Cycles, Fiscal Policy |
| ECO-203 | Econometrics - I | Core | 4 | Classical Linear Regression, Assumptions, Violations (Multicollinearity, Heteroscedasticity, Autocorrelation), Dummy Variables |
| ECO-204 | Public Economics | Core | 4 | Role of Government, Public Goods, Externalities, Public Expenditure, Taxation Principles, Fiscal Federalism, Indian Public Finance |
| ECO-205 | Economics of Growth and Development - II | Core | 4 | Development Strategies, Human Capital, Infrastructure, Environmental Economics, Globalisation, Rural Development |
Semester 3
| Subject Code | Subject Name | Subject Type | Credits | Key Topics |
|---|---|---|---|---|
| ECO-301 | International Economics - I | Core | 4 | Trade Theories, Gains from Trade, Terms of Trade, Tariffs & Quotas, Balance of Payments |
| ECO-302 | Environmental Economics | Core | 4 | Environmental Problems, Market Failure, Externalities, Valuation of Environmental Goods, Sustainable Development, Environmental Policy |
| ECO-313 | Econometrics - II (Specialization: Quantitative Economics) | Elective (Specialization) | 4 | Time Series Analysis, Panel Data, Simultaneous Equations, Limited Dependent Variable Models, Forecasting |
| ECO-314 | Mathematical Economics (Specialization: Quantitative Economics) | Elective (Specialization) | 4 | Optimization, Constrained Optimization, Input-Output Analysis, Game Theory, Dynamic Analysis |
| ECO-315 | Operations Research (Specialization: Quantitative Economics) | Elective (Specialization) | 4 | Linear Programming, Duality, Transportation, Assignment, Queuing Theory, Inventory Control |
| ECO-323 | Industrial Structure and Performance (Specialization: Industrial Economics) | Elective (Specialization) | 4 | Industrialization, Market Structure, Firm Behavior, Mergers & Acquisitions, Diversification, Growth of Firms |
| ECO-324 | Industrial Finance and Project Appraisal (Specialization: Industrial Economics) | Elective (Specialization) | 4 | Sources of Finance, Capital Structure, Working Capital, Project Formulation, Discounting Criteria, Risk Analysis |
| ECO-325 | Industrial Labour Economics (Specialization: Industrial Economics) | Elective (Specialization) | 4 | Labour Market, Wage Theories, Trade Unions, Industrial Relations, Labour Welfare, Social Security |
| ECO-333 | Agricultural Development and Policy (Specialization: Agricultural Economics) | Elective (Specialization) | 4 | Role of Agriculture, Agrarian Structure, Land Reforms, Agricultural Productivity, Food Security, Agricultural Marketing |
| ECO-334 | Agricultural Finance and Marketing (Specialization: Agricultural Economics) | Elective (Specialization) | 4 | Rural Credit, Institutional Finance, Microfinance, Agricultural Price Policy, Marketable Surplus, Co-operative Marketing |
| ECO-335 | Economics of Farm Management (Specialization: Agricultural Economics) | Elective (Specialization) | 4 | Farm Planning, Resource Allocation, Cost Analysis, Risk & Uncertainty, Crop Insurance, Dairy Economics |
| ECO-343 | Population Theories and Policies (Specialization: Demography and Population Studies) | Elective (Specialization) | 4 | Population Growth, Malthusian Theory, Demographic Transition, Population Policies (India), Family Planning |
| ECO-344 | Population Composition and Distribution (Specialization: Demography and Population Studies) | Elective (Specialization) | 4 | Age and Sex Structure, Rural-Urban Migration, International Migration, Urbanization, Population Projection |
| ECO-345 | Fertility, Mortality and Morbidity (Specialization: Demography and Population Studies) | Elective (Specialization) | 4 | Fertility Measures, Determinants of Fertility, Mortality Measures, Infant Mortality, Morbidity Patterns, Health Indicators |
| ECO-353 | Financial Markets and Institutions (Specialization: Financial Economics) | Elective (Specialization) | 4 | Financial System, Money Market, Capital Market, Commercial Banks, RBI, Financial Sector Reforms |
| ECO-354 | Security Analysis and Portfolio Management (Specialization: Financial Economics) | Elective (Specialization) | 4 | Investment Process, Risk & Return, Equity Valuation, Bond Valuation, Portfolio Theory, Mutual Funds |
| ECO-355 | International Finance (Specialization: Financial Economics) | Elective (Specialization) | 4 | Exchange Rate Theories, Balance of Payments, Forex Market, International Monetary System, Hedging, Derivatives |
Semester 4
| Subject Code | Subject Name | Subject Type | Credits | Key Topics |
|---|---|---|---|---|
| ECO-401 | International Economics - II | Core | 4 | Foreign Exchange Market, Exchange Rate Regimes, International Monetary System, IMF & WTO, Regional Economic Groupings |
| ECO-402 | Research Methodology in Economics | Core | 4 | Research Design, Data Collection, Sampling, Hypothesis Testing, Report Writing, Ethics in Research |
| ECO-413 | Statistical Inference (Specialization: Quantitative Economics) | Elective (Specialization) | 4 | Estimation Theory, Hypothesis Testing, Parametric Tests, Non-Parametric Tests, ANOVA, Experimental Design |
| ECO-414 | Computer Applications in Economic Analysis (Specialization: Quantitative Economics) | Elective (Specialization) | 4 | Data Analysis Software (e.g., SPSS, R, Python basics), Database Management, Spreadsheet Applications, Presentation Skills |
| ECO-423 | Industrial Policy and Regulation (Specialization: Industrial Economics) | Elective (Specialization) | 4 | Industrial Policy in India, Competition Policy, FDI, SEZs, MSMEs, Public Sector Enterprises |
| ECO-424 | Economics of Infrastructure (Specialization: Industrial Economics) | Elective (Specialization) | 4 | Infrastructure Development, Energy Sector, Transport, Telecommunications, Social Infrastructure, PPP |
| ECO-433 | Economics of Food and Nutrition (Specialization: Agricultural Economics) | Elective (Specialization) | 4 | Food Problem, Food Supply & Demand, Nutritional Status, Food Security Programs (India), Public Distribution System |
| ECO-434 | Water Resources and Environmental Issues in Agriculture (Specialization: Agricultural Economics) | Elective (Specialization) | 4 | Water Resources, Irrigation, Water Pricing, Land Degradation, Climate Change and Agriculture, Sustainable Agriculture |
| ECO-443 | Population and Development (Specialization: Demography and Population Studies) | Elective (Specialization) | 4 | Population & Economic Growth, Health, Education, Environment, Urbanization, Gender & Development |
| ECO-444 | Advanced Demographic Techniques (Specialization: Demography and Population Studies) | Elective (Specialization) | 4 | Life Tables, Population Models, Indirect Estimation, Stable Population Theory, Projections, Survey Methods |
| ECO-453 | Derivatives and Risk Management (Specialization: Financial Economics) | Elective (Specialization) | 4 | Futures, Options, Swaps, Hedging Strategies, Value at Risk, Credit Risk, Operational Risk |
| ECO-454 | Behavioral Finance (Specialization: Financial Economics) | Elective (Specialization) | 4 | Cognitive Biases, Heuristics, Prospect Theory, Market Anomalies, Investor Psychology, Herd Behavior |
| OEC-401 | Open Elective Paper | Elective (Open) | 4 | Varies as per student choice, Interdisciplinary topics, Skill-based courses, Entrepreneurship, Digital Literacy |
| ECO-405 | Mandatory Project Paper | Project | 4 | Research Proposal Development, Data Collection & Analysis, Report Writing & Formatting, Literature Review, Presentation & Viva-Voce |
