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M-A in Economics at Maharaja Purna Chandra Autonomous College
Mayurbhanj, Odisha
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About the Specialization
What is Economics at Maharaja Purna Chandra Autonomous College Mayurbhanj?
This M.A. Economics program at Maharaja Purna Chandra Autonomous College focuses on providing a rigorous understanding of economic theory, quantitative methods, and Indian economic policy. The curriculum is designed to equip students with analytical and empirical skills demanded in various sectors of the Indian economy, emphasizing both theoretical foundations and real-world applications relevant to national development and challenges. The program''''s interdisciplinary approach prepares students for diverse career paths by fostering critical thinking and research capabilities.
Who Should Apply?
This program is ideal for economics graduates seeking to deepen their theoretical knowledge and practical analytical skills. It caters to fresh graduates aspiring for roles in economic research, policy analysis, and financial services in India. Additionally, it benefits working professionals looking to enhance their understanding of macroeconomic trends and policy implications, as well as those aiming for academic or research careers requiring a strong foundation in economic principles and quantitative techniques.
Why Choose This Course?
Graduates of this program can expect to pursue rewarding career paths in India, including economic analysts, research associates, data scientists, and policy consultants in government bodies, think tanks, and private corporations. Entry-level salaries typically range from INR 3-6 lakhs per annum, with experienced professionals earning significantly higher. The program also serves as a strong foundation for advanced studies such as PhDs or for competitive examinations like the Indian Economic Service (IES), providing a clear growth trajectory in academic and public policy domains.
Student Success Practices
Foundation Stage
Master Core Economic Concepts- (Semester 1-2)
Diligently study microeconomic and macroeconomic theories, quantitative methods, and Indian economic policy. Form study groups to discuss complex theories and solve numerical problems, ensuring a strong conceptual base. Focus on understanding the intuition behind models, not just memorizing formulas.
Tools & Resources
Standard textbooks (e.g., Mankiw, Pindyck), NPTEL lectures, online problem sets, study groups with peers.
Career Connection
A strong foundation is crucial for excelling in advanced courses and forms the bedrock for analytical roles in research, policy, and finance during placements.
Develop Quantitative and Analytical Skills- (Semester 1-2)
Actively engage with quantitative methods papers. Practice solving problems involving calculus, matrix algebra, probability, and basic statistics. Utilize statistical software like Excel, R, or Python for assignments, even if not explicitly taught, to gain a practical edge.
Tools & Resources
Khan Academy for math refreshers, R/Python tutorials (Datacamp, Coursera), online datasets for practice, university computer labs.
Career Connection
Proficiency in quantitative techniques is highly valued in roles like economic analysis, data science, and financial modeling, enhancing employability for Indian market roles.
Engage with Current Economic Affairs- (Semester 1-2)
Regularly read reputable economic newspapers (e.g., The Economic Times, Business Standard), journals, and government reports (e.g., Economic Survey of India, RBI Bulletins). Participate in department seminars and discussions to link theoretical knowledge with real-world Indian economic scenarios.
Tools & Resources
The Economic Times e-paper, Business Standard, live economic news channels, NITI Aayog publications.
Career Connection
Staying updated provides context for case studies, interviews, and helps in understanding policy implications, making you a more informed and competitive candidate for Indian economic jobs.
Intermediate Stage
Specialized Skill Development in Econometrics- (Semester 3)
Deep dive into econometrics by not just understanding theory but also hands-on application. Learn and practice using statistical software like EViews, Stata, or R for regression analysis, hypothesis testing, and time series modeling. Work on small data projects to apply learned concepts.
Tools & Resources
EViews/Stata tutorials, econometrics textbooks (Gujarati, Wooldridge), NPTEL courses on econometrics, online datasets (e.g., MOSPI, World Bank).
Career Connection
Strong econometric skills are essential for research roles, data analysis positions, and policy evaluation within Indian government, consulting, and finance sectors.
Participate in Economic Research & Competitions- (Semester 3)
Seek opportunities to assist professors with research projects or undertake small independent research papers on topics of interest, especially related to the Indian economy. Participate in inter-college economic essay competitions or case study challenges to hone analytical and presentation skills.
Tools & Resources
College faculty, research journals, economic think tanks, national/state-level essay contests.
Career Connection
Showcasing research experience and competition wins boosts your resume, demonstrating critical thinking and problem-solving abilities vital for competitive placements and further academic pursuits.
Network and Seek Mentorship- (Semester 3)
Attend conferences, workshops, and guest lectures organized by the college or other institutions. Connect with alumni and faculty to understand career paths and seek guidance on internships and career planning. Build a professional network early on.
Tools & Resources
LinkedIn, college alumni network, departmental events, economic forums.
Career Connection
Networking opens doors to internship opportunities, mentorship, and insights into industry trends, significantly enhancing your chances of securing relevant roles in the Indian job market.
Advanced Stage
Undertake a Comprehensive Dissertation/Project- (Semester 4)
Choose a relevant research topic for your dissertation, preferably with real-world data and policy implications for India. Focus on rigorous methodology, data analysis, and clear articulation of findings. This project should be a culmination of all learned skills.
Tools & Resources
Academic databases, statistical software, guidance from faculty supervisor, government data portals (e.g., NSSO, CSO).
Career Connection
A well-executed dissertation is a powerful portfolio piece, demonstrating your ability to conduct independent research, analyze complex problems, and contribute original insights, highly valued in research and policy-oriented roles.
Targeted Placement Preparation and Skill Refinement- (Semester 4)
Actively participate in campus placement drives. Prepare for interviews by practicing technical questions related to economic theory and econometrics, as well as general aptitude and communication skills. Refine your resume and cover letter to highlight economics-specific skills and achievements.
Tools & Resources
College placement cell, mock interviews, online aptitude tests, career counseling services, professional resume builders.
Career Connection
Dedicated preparation for placements increases your chances of securing desirable entry-level positions in financial services, analytics, and research firms across India.
Explore Government Service Examinations- (Semester 4)
If interested in public policy or administrative roles, start preparing for competitive examinations such as the Indian Economic Service (IES), UPSC Civil Services, or state PSC exams. Focus on general knowledge, current affairs, and advanced economics relevant to these examinations.
Tools & Resources
IES previous year papers, government exam coaching centers, current affairs magazines, specialized economic study materials.
Career Connection
Success in these examinations leads to highly respected and impactful careers in central and state government economic advisory and administrative positions, contributing directly to India''''s development.
Program Structure and Curriculum
Eligibility:
- Bachelor’s Degree with Economics as one of the subjects having minimum 45% of marks in aggregate and 50% in Economics core or equivalent grade OR B.A./B.Sc./B.Com/BBA/BCA with minimum 50% marks in aggregate.
Duration: 4 semesters / 2 years
Credits: 80 Credits
Assessment: Internal: 20%, External: 80%
Semester-wise Curriculum Table
Semester 1
| Subject Code | Subject Name | Subject Type | Credits | Key Topics |
|---|---|---|---|---|
| PGECON101 | Microeconomic Analysis – I | Core | 4 | Consumer Behavior Theories, Production and Cost Analysis, Market Structures: Perfect Competition, Imperfect Competition: Monopoly, Oligopoly, Pricing Strategies, Theory of Distribution |
| PGECON102 | Macroeconomic Analysis – I | Core | 4 | National Income Accounting, Classical and Keynesian Models, Consumption and Investment Functions, Money Demand and Supply, Inflation and Unemployment |
| PGECON103 | Quantitative Methods for Economic Analysis – I | Core | 4 | Functions, Graphs and Limits, Differential Calculus and Applications, Integral Calculus and Applications, Matrix Algebra, Input-Output Analysis, Linear Programming |
| PGECON104 | Indian Economic Policy – I | Core | 4 | Structure of Indian Economy, Economic Planning in India, Agriculture Sector and Green Revolution, Industrial Sector and Policy, Service Sector Growth |
| PGECON105 | Public Economics | Core | 4 | Public Goods and Externalities, Market Failure and Public Choice, Public Expenditure Theories, Taxation: Principles and Structure, Fiscal Policy and Budgeting, Public Debt |
Semester 2
| Subject Code | Subject Name | Subject Type | Credits | Key Topics |
|---|---|---|---|---|
| PGECON201 | Microeconomic Analysis – II | Core | 4 | General Equilibrium Theory, Welfare Economics: Pareto Optimality, Game Theory and Strategic Interactions, Asymmetric Information, Externalities and Public Goods |
| PGECON202 | Macroeconomic Analysis – II | Core | 4 | IS-LM Model and Policy Effectiveness, Aggregate Demand and Supply, Business Cycles and Stabilization, Open Economy Macroeconomics, Exchange Rate Regimes, Monetary and Fiscal Policy in Open Economy |
| PGECON203 | Quantitative Methods for Economic Analysis – II | Core | 4 | Probability Theory, Probability Distributions, Sampling and Estimation, Hypothesis Testing, Correlation and Regression Analysis, Time Series and Index Numbers |
| PGECON204 | Indian Economic Policy – II | Core | 4 | Poverty and Inequality in India, Employment, Unemployment and MGNREGA, Foreign Trade and Balance of Payments, FDI and Investment Policy, Fiscal and Monetary Reforms, Economic Reforms since 1991 |
| PGECON205 | Growth and Development Economics | Core | 4 | Theories of Economic Growth, Models of Economic Development, Human Development and Poverty, Income Inequality and Measurement, Sustainable Development Goals (SDGs), Population and Development |
Semester 3
| Subject Code | Subject Name | Subject Type | Credits | Key Topics |
|---|---|---|---|---|
| PGECON301 | Econometrics – I | Core | 4 | Classical Linear Regression Model (CLRM), OLS Assumptions and Properties, Hypothesis Testing and Interval Estimation, Multicollinearity, Heteroscedasticity, Autocorrelation |
| PGECON302 | International Economics | Core | 4 | Theories of International Trade, Terms of Trade, Trade Barriers and Protectionism, Balance of Payments, Foreign Exchange Market, International Economic Organizations |
| PGECON303 | Environmental Economics | Core | 4 | Environmental Problems and Market Failure, Economic Valuation of Environment, Environmental Policies and Regulations, Climate Change Economics, Sustainable Development, Resource Economics |
| PGECON304 | Financial Institutions and Markets | Elective (DSE-1 Option 1) | 4 | Indian Financial System, Money Market, Capital Market, Commercial Banking, Central Banking and Monetary Policy, Financial Sector Reforms |
| PGECON305 | Rural Economics | Elective (DSE-1 Option 2) | 4 | Concept of Rural Development, Rural Poverty and Inequality, Rural Employment and MGNREGA, Rural Credit and Indebtedness, Agriculture-Rural Industry Linkages, Rural Infrastructure |
Semester 4
| Subject Code | Subject Name | Subject Type | Credits | Key Topics |
|---|---|---|---|---|
| PGECON401 | Econometrics – II | Core | 4 | Time Series Econometrics, Stationarity and Unit Root Tests, Cointegration and Error Correction Models, Panel Data Models, Simultaneous Equation Models, Forecasting Techniques |
| PGECON402 | History of Economic Thought | Elective (DSE-2 Option 1) | 4 | Mercantilism and Physiocracy, Classical Economics: Smith, Ricardo, Malthus, Marxian Economics, Neoclassical Economics: Marshall, Walras, Keynesian Revolution, Indian Economic Thought |
| PGECON403 | Economics of Education, Health and Gender | Elective (DSE-2 Option 2) | 4 | Economics of Education: Human Capital, Health Economics: Demand and Supply of Health, Gender Inequality and Development, Returns to Education and Health, Public Policy in Health and Education, Women''''s Empowerment |
| PGECON404 | Demography and Population Studies | Elective (DSE-2 Option 3) | 4 | Theories of Population Growth, Demographic Transition Theory, Fertility and Mortality, Migration: Causes and Consequences, Population Policy in India, Age Structure and Dependency |
| PGECON405 | Dissertation / Project | Core | 4 | Research Problem Formulation, Literature Review, Data Collection and Methodology, Statistical Analysis and Interpretation, Report Writing and Presentation, Academic Ethics |
