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BACHELOR-OF-ARTS-HONORS in Economics at Maharaja Lalit Narayan College
Yamunanagar, Haryana
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About the Specialization
What is Economics at Maharaja Lalit Narayan College Yamunanagar?
This Bachelor of Arts Honors in Economics program at Mukand Lal National College focuses on equipping students with a robust understanding of economic theories, quantitative methods, and their application to real-world challenges, particularly within the Indian context. The curriculum emphasizes analytical thinking, problem-solving, and a deep dive into microeconomics, macroeconomics, development, and policy, preparing graduates for diverse roles in India''''s growing economy.
Who Should Apply?
This program is ideal for high school graduates with a strong aptitude for analytical reasoning, mathematics, and an interest in societal issues and policy-making. It attracts aspiring economists, policy analysts, researchers, and individuals aiming for careers in finance, banking, or public administration. Students with a background in commerce or humanities seeking a rigorous quantitative and theoretical foundation will also find this program beneficial.
Why Choose This Course?
Graduates of this program can expect to pursue various career paths in India, including roles as economic analysts, data scientists, research associates, financial consultants, and civil servants. Entry-level salaries typically range from INR 3-6 lakhs per annum, with significant growth potential in sectors like banking, financial services, consulting, and government. The program also serves as a strong foundation for higher studies in economics, management, and public policy.
Student Success Practices
Foundation Stage
Master Economic Fundamentals- (Semester 1-2)
Dedicate time to thoroughly understand core micro and macro-economic principles. Utilize textbooks beyond class lectures, engage in peer study groups, and regularly solve numerical problems to solidify conceptual clarity. This strong foundation is critical for advanced courses and competitive exams.
Tools & Resources
NCERT Economics textbooks (Class XI, XII), Standard university textbooks (e.g., Mankiw, Samuelson), Khan Academy Economics, Tutoria.pk for practice questions
Career Connection
A robust understanding of fundamentals is crucial for interviews, entrance exams for higher studies, and foundational roles in economic analysis.
Develop Quantitative and Analytical Skills- (Semester 1-2)
Actively engage with statistical methods and mathematical concepts taught in early semesters. Practice problem-solving using Excel or basic statistical software. Attend workshops on data analysis if available, as these skills are highly valued in economics careers.
Tools & Resources
Microsoft Excel, Basic R/Python tutorials for data handling, Online courses on statistics for economics (Coursera, edX), Practice books for quantitative aptitude
Career Connection
These skills are essential for roles in data analysis, market research, and preparing for quantitative sections of competitive exams (e.g., UPSC, RBI Grade B).
Engage with Current Economic Affairs- (Semester 1-2)
Cultivate a habit of reading national economic newspapers and journals daily. Understand current government policies, budget announcements, and global economic trends. This provides real-world context to theoretical knowledge and improves general awareness.
Tools & Resources
The Economic Times, Business Standard, Livemint, RBI Bulletins, Economic Survey of India
Career Connection
Crucial for group discussions, personal interviews, and building an informed perspective for policy-related careers or competitive examinations.
Intermediate Stage
Seek Internships and Research Opportunities- (Semester 3-4)
Actively look for short-term internships during summer breaks with NGOs, local research organizations, or small businesses to gain practical exposure. Collaborate with professors on minor research projects or participate in departmental research activities.
Tools & Resources
Internshala, LetsIntern, College''''s placement cell, Faculty research interest groups
Career Connection
Practical experience enhances resume, builds network, and clarifies career interests, providing a significant edge in placements and higher education applications.
Specialize and Diversify Skillset- (Semester 3-5)
Based on emerging interests, choose Discipline Specific Electives wisely. Supplement classroom learning with online courses in areas like financial modeling, advanced econometrics, or specific policy analysis. Consider learning a relevant software tool (e.g., SPSS, Stata).
Tools & Resources
Coursera/edX for specialized courses, LinkedIn Learning for software tutorials (e.g., Stata, EViews), NPTEL courses on advanced economic topics
Career Connection
Specialized skills make you a more attractive candidate for specific roles in finance, research, and policy analysis. Diversifying adds versatility.
Participate in Competitions and Debates- (Semester 3-5)
Engage in inter-college economics quizzes, essay competitions, policy formulation challenges, or debates. This enhances critical thinking, public speaking, and the ability to articulate economic arguments effectively, preparing for professional roles requiring strong communication.
Tools & Resources
College economics club, Youth parliament simulations, Online debate platforms, Inter-university competitions
Career Connection
Improves communication skills, boosts confidence, and demonstrates leadership potential, which are highly valued by employers and for civil services preparation.
Advanced Stage
Intensive Placement and Higher Study Preparation- (Semester 6)
Start preparing rigorously for campus placements, competitive government exams (UPSC, RBI, SSC CGL), or entrance exams for Master''''s programs (DU, JNU, IGIDR, ISI) in the final year. Focus on mock interviews, aptitude tests, and revising core economic concepts.
Tools & Resources
Previous year question papers for target exams, Coaching institutes for competitive exams (if opted), Online aptitude test platforms, College placement cell workshops
Career Connection
Directly impacts securing desired job roles or admissions to prestigious postgraduate programs, shaping the immediate career trajectory.
Undertake a Capstone Project/Dissertation- (Semester 6)
Choose a relevant economic issue for a final year project or dissertation. This involves extensive research, data collection, analysis, and report writing. This demonstrates independent research capabilities and a deep understanding of a specific economic domain.
Tools & Resources
Academic journals (JSTOR, EconLit), Government data sources (NSO, RBI, Ministry of Finance), Statistical software (e.g., R, Python, Stata), Faculty mentors
Career Connection
A strong project showcases analytical and research skills, a significant asset for research-oriented roles or strong applications for graduate school.
Network and Build Professional Connections- (Semester 6)
Attend economics seminars, webinars, and alumni meet-ups. Connect with professionals in your areas of interest through LinkedIn. These interactions can provide valuable career insights, mentorship opportunities, and job leads.
Tools & Resources
LinkedIn, College alumni network, Industry events and conferences, Professional associations (e.g., Indian Economic Association)
Career Connection
Professional networking is crucial for gaining insights into industry trends, finding job opportunities, and building a supportive professional community.
Program Structure and Curriculum
Eligibility:
- 10+2 (Intermediate) examination with a minimum of 45% marks from a recognized board (as per Kurukshetra University and college norms for BA programs)
Duration: 3 years / 6 semesters
Credits: 120 Credits
Assessment: Internal: 20%, External: 80%
Semester-wise Curriculum Table
Semester 1
| Subject Code | Subject Name | Subject Type | Credits | Key Topics |
|---|---|---|---|---|
| ECO-101 | Micro Economics-I | Core | 6 | Introduction to Micro Economics, Consumer Behaviour, Theory of Production and Costs, Market Structure-I (Perfect Competition) |
| ECO-102 | Macro Economics-I | Core | 6 | Introduction to Macro Economics, National Income Accounting, Classical Theory of Income and Employment, Keynesian Theory of Income and Employment |
| AECC-I | Environmental Studies | Ability Enhancement Compulsory Course | 4 | Multidisciplinary Nature of Environmental Studies, Natural Resources, Ecosystems, Environmental Pollution, Social Issues and the Environment |
| GE-I | Generic Elective-I | Generic Elective | 6 | Selected from a basket of generic courses offered by other departments |
Semester 2
| Subject Code | Subject Name | Subject Type | Credits | Key Topics |
|---|---|---|---|---|
| ECO-201 | Micro Economics-II | Core | 6 | Market Structure-II (Monopoly, Oligopoly), Pricing Under Imperfect Competition, Factor Pricing (Rent, Wages, Interest), Theories of Profit, Welfare Economics |
| ECO-202 | Macro Economics-II | Core | 6 | Investment Function, Consumption Function, Multiplier and Accelerator, Inflation and Deflation, Open Economy Macroeconomics |
| AECC-II | English/Hindi Communication | Ability Enhancement Compulsory Course | 2 | Grammar and Usage, Reading Comprehension, Writing Skills, Speaking Skills, Listening Skills |
| GE-II | Generic Elective-II | Generic Elective | 6 | Selected from a basket of generic courses offered by other departments |
Semester 3
| Subject Code | Subject Name | Subject Type | Credits | Key Topics |
|---|---|---|---|---|
| ECO-301 | Indian Economy-I | Core | 6 | Basic Characteristics of Indian Economy, Economic Planning in India, Agriculture Sector and Green Revolution, Industrial Development and Policies, Infrastructure Development |
| ECO-302 | Statistical Methods for Economics-I | Core | 6 | Data Collection and Presentation, Measures of Central Tendency, Measures of Dispersion, Skewness, Kurtosis, Probability |
| SEC-I | Skill Enhancement Course-I | Skill Enhancement Course | 2 | Selected from a list of skill-based courses |
| GE-III | Generic Elective-III | Generic Elective | 6 | Selected from a basket of generic courses offered by other departments |
Semester 4
| Subject Code | Subject Name | Subject Type | Credits | Key Topics |
|---|---|---|---|---|
| ECO-401 | Indian Economy-II | Core | 6 | Foreign Trade of India, Balance of Payments, Indian Public Finance, Money and Banking in India, Poverty, Unemployment, and Inequality |
| ECO-402 | Statistical Methods for Economics-II | Core | 6 | Sampling and Sampling Distributions, Hypothesis Testing, Correlation and Regression Analysis, Index Numbers, Time Series Analysis |
| SEC-II | Skill Enhancement Course-II | Skill Enhancement Course | 2 | Selected from a list of skill-based courses |
| GE-IV | Generic Elective-IV | Generic Elective | 6 | Selected from a basket of generic courses offered by other departments |
Semester 5
| Subject Code | Subject Name | Subject Type | Credits | Key Topics |
|---|---|---|---|---|
| ECO-501 | Development Economics-I | Core | 6 | Concepts of Economic Development and Growth, Theories of Economic Development, Population and Human Capital, Role of Capital and Technology, Planning Models |
| ECO-502 | Public Finance | Core | 6 | Role of Government in a Market Economy, Public Goods and Externalities, Public Expenditure, Taxation Theories and Reforms, Public Debt Management |
| DSE-I | Discipline Specific Elective-I (Option 1: History of Economic Thought) | Discipline Specific Elective | 6 | Mercantilism and Physiocracy, Classical School (Adam Smith, David Ricardo), Marxian Economics, Keynesian Economics, Neoclassical School |
| DSE-I | Discipline Specific Elective-I (Option 2: Econometrics) | Discipline Specific Elective | 6 | Nature and Scope of Econometrics, Simple Linear Regression Model, Multiple Regression Analysis, Problems in Regression (Multicollinearity, Heteroscedasticity), Dummy Variables |
| DSE-II | Discipline Specific Elective-II (Option 1: International Economics) | Discipline Specific Elective | 6 | Theories of International Trade, Terms of Trade, Commercial Policy (Tariffs, Quotas), Balance of Payments, Foreign Exchange Market |
| DSE-II | Discipline Specific Elective-II (Option 2: Rural Economics) | Discipline Specific Elective | 6 | Nature and Scope of Rural Economics, Rural Poverty and Unemployment, Rural Credit and Indebtedness, Rural Development Programs in India, Agricultural Marketing |
Semester 6
| Subject Code | Subject Name | Subject Type | Credits | Key Topics |
|---|---|---|---|---|
| ECO-601 | Development Economics-II | Core | 6 | Role of State and Market in Development, Sources of Economic Growth, Inclusive Growth and Sustainable Development, Foreign Capital and Aid, Environmental Challenges and Policies |
| ECO-602 | Monetary Economics | Core | 6 | Money and its Functions, Theories of Money (Quantity Theory, Keynesian Theory), Commercial Banking System, Central Banking and Monetary Policy, Money Market and Capital Market |
| DSE-III | Discipline Specific Elective-III (Option 1: Economic History of India (1857-1947)) | Discipline Specific Elective | 6 | Colonial Economy, Agriculture under British Rule, Industrialization and De-industrialization, Railways and Infrastructure Development, Economic Drain Theory |
| DSE-III | Discipline Specific Elective-III (Option 2: Industrial Economics) | Discipline Specific Elective | 6 | Nature and Scope of Industrial Economics, Industrial Market Structure, Industrial Growth and Productivity, Industrial Sickness, Industrial Policies in India |
| DSE-IV | Discipline Specific Elective-IV (Option 1: Labour Economics) | Discipline Specific Elective | 6 | Nature of Labour Market, Theories of Wages, Trade Unions and Collective Bargaining, Labour Welfare and Social Security, Labour Laws in India |
| DSE-IV | Discipline Specific Elective-IV (Option 2: Demography) | Discipline Specific Elective | 6 | Population Theories, Components of Population Change (Fertility, Mortality), Demographic Transition Theory, Population Policy in India, Migration and Urbanization |
