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BA-ECONOMICS in Economics at Mahatma Gandhi Government College, Mayabunder
North and Middle Andaman, Andaman and Nicobar Islands
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About the Specialization
What is Economics at Mahatma Gandhi Government College, Mayabunder North and Middle Andaman?
This Economics program at Mahatma Gandhi Government College focuses on providing a robust foundation in economic theories and their real-world applications. It emphasizes analytical and quantitative skills crucial for understanding contemporary economic challenges in the Indian context, from micro-level decisions to macro-level policies. The program aims to equip students with the tools to analyze market behavior, government interventions, and global economic trends, fostering critical thinking essential for various sectors.
Who Should Apply?
This program is ideal for aspiring economists, policy analysts, and data scientists seeking to understand economic phenomena. It attracts fresh graduates with a keen interest in socio-economic issues, strong analytical aptitude, and a desire to contribute to India''''s development. It is also suitable for those looking to pursue higher studies in economics, finance, or public policy, providing a strong theoretical and practical groundwork.
Why Choose This Course?
Graduates of this program can expect to pursue diverse career paths in India, including roles as economic analysts, market researchers, data analysts, or policy associates in government agencies, financial institutions, and research firms. Entry-level salaries typically range from INR 3-5 LPA, growing significantly with experience and specialization. The program aligns well with competitive exams for civil services or positions in RBI, NITI Aayog, and various public sector undertakings.
Student Success Practices
Foundation Stage
Master Economic Fundamentals- (Semester 1-2)
Consolidate your understanding of Microeconomics and Mathematical Methods by regularly solving problems and engaging in peer study groups. Focus on building a strong conceptual base, as these subjects form the bedrock of advanced economic studies.
Tools & Resources
NCERT Economics books (Class XI & XII), Mankiw''''s Principles of Economics, Khan Academy Economics videos, Peer study sessions
Career Connection
A strong foundation ensures clarity for competitive exams (UPSC, RBI) and prepares you for advanced courses, which are crucial for analytical roles in financial services or research.
Develop Quantitative Skills- (Semester 1-2)
Dedicate time to mathematical and statistical methods by solving a variety of numerical problems. Utilize online platforms for practice and join college workshops focused on quantitative techniques in economics. Strong quantitative skills are non-negotiable for modern economic roles.
Tools & Resources
Alpha C. Chiang''''s Mathematical Methods for Economists, Schaum''''s Outlines series, YouTube tutorials for specific concepts, College''''s math/stats lab
Career Connection
Proficiency in quantitative methods is directly applicable to roles in data analysis, financial modeling, and economic forecasting, highly valued by employers in India''''s growing analytics sector.
Engage with Current Economic Affairs- (Semester 1-2)
Read reputable economic newspapers (e.g., The Economic Times, Business Standard) and magazines (e.g., EPW, Frontline). Participate in college debates and discussions on contemporary Indian and global economic issues to connect theory with real-world scenarios.
Tools & Resources
The Economic Times, Livemint, Financial Express, Economic and Political Weekly (EPW), RBI Bulletin
Career Connection
Awareness of current affairs enhances your interview performance for government jobs, think tanks, and private sector roles, demonstrating practical understanding of economic policy.
Intermediate Stage
Acquire Software Proficiency- (Semester 3-4)
Beyond theoretical knowledge, learn to apply economic concepts using software tools like MS Excel, R, or Python for data analysis. Enroll in online certification courses or seek out college-led workshops to gain hands-on experience in econometrics and data visualization.
Tools & Resources
Coursera/edX courses on R/Python for Data Science, Microsoft Excel Data Analysis certifications, NPTEL lectures on Econometrics
Career Connection
Software skills are critical for analytical and research positions. This directly boosts employability for roles such as data analyst, research assistant, or business analyst in India.
Explore Interdisciplinary Electives- (Semester 3-4)
Strategically choose Generic Electives (GEs) that complement your Economics specialization, such as those in public administration, environmental science, or sociology. This broadens your perspective and opens up niche career paths, especially for civil services or development sector roles.
Tools & Resources
University''''s GE course catalog, Career counseling sessions, Alumni network insights
Career Connection
An interdisciplinary approach is valued in policy-making, sustainable development, and social sector organizations, enhancing your profile for diverse roles in government and NGOs.
Participate in Economic Competitions and Quizzes- (Semester 3-4)
Actively participate in inter-college economics quizzes, essay competitions, and case study challenges. This not only hones your knowledge but also builds confidence and networking opportunities with peers and faculty across institutions.
Tools & Resources
College Economic Forum, University-level competitions, Online quiz platforms (e.g., Quizizz)
Career Connection
Such participation builds a strong co-curricular profile, demonstrating initiative and depth of knowledge, which can be a distinguishing factor in internships and job interviews for roles in finance or consulting.
Advanced Stage
Undertake Research Projects and Internships- (Semester 5-6)
Work on independent research projects under faculty guidance, focusing on Indian economic issues. Seek out internships in financial institutions, government departments (e.g., Directorate of Economics & Statistics), or NGOs. This provides invaluable practical exposure and network building.
Tools & Resources
College research cell, Online internship portals (Internshala, LinkedIn), Faculty mentors, Statistical data from NSSO, RBI, MOSPI
Career Connection
Practical experience through internships and research is highly valued for placements in research firms, banks, and government sectors, often leading to pre-placement offers.
Prepare for Post-Graduation and Competitive Exams- (Semester 5-6)
Start preparing for postgraduate entrance exams (e.g., ISI, DSE, IGIDR, UPSC Civil Services, RBI Grade B) or specific job interviews. Focus on revising core economic concepts and practicing aptitude and reasoning skills. Join coaching classes or study groups if beneficial.
Tools & Resources
Previous year question papers, Online test series, Coaching institutes, Mentorship from seniors
Career Connection
Targeted preparation enhances your chances of securing admissions to top universities for higher studies or landing prestigious government and public sector jobs in India, ensuring a strong career trajectory.
Network and Seek Mentorship- (Semester 5-6)
Attend industry seminars, alumni meets, and guest lectures. Actively network with faculty, alumni, and professionals in the economics field. Seek mentorship to gain insights into career paths, industry trends, and job search strategies specific to the Indian market.
Tools & Resources
LinkedIn, College Alumni Association, Departmental events, Career guidance cell
Career Connection
Networking opens doors to hidden job opportunities, valuable advice, and professional connections that are crucial for long-term career growth and placements in the competitive Indian job market.
Program Structure and Curriculum
Eligibility:
- A pass in the Higher Secondary Examination (10+2) or its equivalent from a recognized board.
Duration: 3 years / 6 semesters
Credits: 96 Credits
Assessment: Internal: 25%, External: 75%
Semester-wise Curriculum Table
Semester 1
| Subject Code | Subject Name | Subject Type | Credits | Key Topics |
|---|---|---|---|---|
| ECOR101 | Microeconomics I | Core | 4 | Basic Economic Problems and Systems, Theory of Demand and Supply, Consumer Behavior: Utility and Indifference Curve Analysis, Theory of Production: Short Run and Long Run, Cost Analysis: Short Run and Long Run, Revenue Concepts and Market Equilibrium |
| ECOR102 | Mathematical Methods for Economics I | Core | 4 | Basic Algebra and Functions, Linear Equations and Systems, Differentiation: Rules and Applications, Optimization Techniques, Integration: Indefinite and Definite Integrals, Applications in Economics: Consumer and Producer Surplus |
| AEC101 | Environmental Studies | Ability Enhancement Compulsory Course (AECC) | 2 | Ecosystems and their Functions, Biodiversity and Conservation, Environmental Pollution and Control Measures, Global Environmental Issues: Climate Change, Ozone Depletion, Sustainable Development Concepts, Environmental Policy and Legislation in India |
| GE101 | Introductory Sociology | Generic Elective (GE) | 4 | Nature and Scope of Sociology, Basic Sociological Concepts, Social Institutions and Processes, Culture and Socialization, Social Stratification and Mobility, Theories of Society |
Semester 2
| Subject Code | Subject Name | Subject Type | Credits | Key Topics |
|---|---|---|---|---|
| ECOR203 | Microeconomics II | Core | 4 | Market Structures: Perfect Competition, Monopoly, Monopolistic Competition and Oligopoly, Pricing Strategies, Factor Market: Theories of Rent, Wages, Interest, and Profit, Welfare Economics: Pareto Optimality, Social Welfare Functions, Externalities and Public Goods |
| ECOR204 | Mathematical Methods for Economics II | Core | 4 | Matrix Algebra: Operations, Determinants, Inverse, Input-Output Analysis, Game Theory: Basic Concepts and Applications, Linear Programming: Graphical and Simplex Methods, Difference and Differential Equations in Economics, Dynamic Economic Models |
| AEC202 | English Communication Skills | Ability Enhancement Compulsory Course (AECC) | 2 | Grammar and Vocabulary, Listening and Speaking Skills, Reading Comprehension, Writing Skills: Paragraph, Essay, Report Writing, Presentation Skills, Interpersonal Communication |
| GE202 | Indian Economy | Generic Elective (GE) | 4 | Basic Characteristics of Indian Economy, Economic Planning in India, Population and Human Development, Agriculture Sector: Issues and Policies, Industrial Sector: Growth and Structure, Poverty, Inequality and Employment in India |
Semester 3
| Subject Code | Subject Name | Subject Type | Credits | Key Topics |
|---|---|---|---|---|
| ECOR305 | Macroeconomics I | Core | 4 | National Income Accounting: Concepts and Measurement, Classical Theory of Employment and Income, Keynesian Theory of Employment: Consumption and Investment Functions, Multiplier and Accelerator, IS-LM Model: Goods and Money Market Equilibrium, Inflation: Types, Causes, and Effects |
| ECOR306 | Statistical Methods for Economics I | Core | 4 | Introduction to Statistics and Data Collection, Organization and Presentation of Data, Measures of Central Tendency: Mean, Median, Mode, Measures of Dispersion: Range, Variance, Standard Deviation, Skewness, Kurtosis and Moments, Index Numbers and Time Series Analysis |
| SEC301 | Computer Applications in Economics | Skill Enhancement Course (SEC) | 2 | Introduction to MS Office (Word, Excel, PowerPoint), Data Handling and Analysis using Excel, Basic Statistical Functions in Excel, Creating Charts and Graphs, Introduction to Economic Software (e.g., EViews, R basics), Online Data Sources for Economic Research |
| GE303 | Public Finance | Generic Elective (GE) | 4 | Role of Government in the Economy, Public Goods and Externalities, Theories of Taxation and Public Expenditure, Fiscal Policy: Objectives and Instruments, Public Debt: Management and Burden, Fiscal Federalism in India |
Semester 4
| Subject Code | Subject Name | Subject Type | Credits | Key Topics |
|---|---|---|---|---|
| ECOR407 | Macroeconomics II | Core | 4 | Theories of Money and Banking, Monetary Policy: Objectives and Instruments, Fiscal Policy and Budget, Business Cycles: Theories and Stabilization Policies, Open Economy Macroeconomics: Balance of Payments, Exchange Rate Regimes and their Impact |
| ECOR408 | Statistical Methods for Economics II | Core | 4 | Probability: Basic Concepts, Laws, Distributions, Sampling: Methods and Distribution, Hypothesis Testing: Large and Small Samples, Chi-Square Test and ANOVA, Correlation and Regression Analysis: Simple Linear Regression, Interpretation of Regression Results |
| SEC402 | Data Analysis with Spreadsheets | Skill Enhancement Course (SEC) | 2 | Advanced Excel Functions for Data Analysis, Data Cleaning and Transformation, Pivot Tables and Charts, Statistical Tools in Excel: Regression, Correlation, Data Visualization Principles, Case Studies in Economic Data Analysis |
| GE404 | International Economics | Generic Elective (GE) | 4 | Theories of International Trade: Absolute and Comparative Advantage, Terms of Trade and Gains from Trade, Trade Policy: Tariffs, Quotas, and Non-Tariff Barriers, Balance of Payments: Components and Disequilibrium, Foreign Exchange Market and Exchange Rate Determination, International Economic Institutions: WTO, IMF, World Bank |
Semester 5
| Subject Code | Subject Name | Subject Type | Credits | Key Topics |
|---|---|---|---|---|
| ECOR509 | Development Economics | Core | 4 | Economic Development vs. Economic Growth, Theories of Development: Classical, Neo-classical, Dualism, Poverty and Inequality: Measurement and Policy, Role of Capital, Technology, and Human Resources, Sustainable Development Goals (SDGs), Strategies for Economic Development |
| ECOR510 | Indian Economic Policy | Core | 4 | Evolution of Indian Economic Planning, New Economic Policy 1991: Liberalization, Privatization, Globalization, Sectoral Reforms: Agriculture, Industry, Services, Fiscal Reforms and Monetary Policy in India, Trade Policy and Foreign Direct Investment in India, Challenges: Employment, Inflation, Regional Disparities |
| DSE501 | Environmental Economics | Discipline Specific Elective (DSE) | 4 | Environmental Problems and Economic Theory, Valuation of Environmental Goods and Services, Cost-Benefit Analysis of Environmental Projects, Environmental Policy Instruments: Taxes, Subsidies, Permits, Climate Change Economics and Policy, Resource Economics: Renewable and Non-renewable Resources |
| DSE502 | Economics of Growth | Discipline Specific Elective (DSE) | 4 | Harrod-Domar Model of Growth, Solow Growth Model and its Extensions, Endogenous Growth Theory, Technical Progress and Economic Growth, Population Growth and Economic Development, Inequality and Growth Relationship |
Semester 6
| Subject Code | Subject Name | Subject Type | Credits | Key Topics |
|---|---|---|---|---|
| ECOR611 | Basic Econometrics | Core | 4 | Nature and Scope of Econometrics, Two-Variable Regression Model: Assumptions and Estimation, Properties of OLS Estimators, Hypothesis Testing and Confidence Intervals, Multiple Regression Analysis, Introduction to Dummy Variables and Time Series Data |
| ECOR612 | History of Economic Thought | Core | 4 | Mercantilism and Physiocracy, Classical School: Adam Smith, David Ricardo, T.R. Malthus, Marxian Economics, Neo-Classical School: Alfred Marshall, Leon Walras, Keynesian Revolution, Recent Developments in Economic Thought |
| DSE603 | Financial Economics | Discipline Specific Elective (DSE) | 4 | Introduction to Financial Markets and Institutions, Time Value of Money: Present and Future Value, Risk and Return: Concepts and Measurement, Portfolio Theory: Diversification and Asset Allocation, Capital Asset Pricing Model (CAPM), Basics of Derivatives: Futures and Options |
| DSE604 | Agricultural Economics | Discipline Specific Elective (DSE) | 4 | Role of Agriculture in Economic Development, Agricultural Production Economics: Farm Management, Agricultural Marketing and Prices, Land Reforms and Green Revolution in India, Agricultural Finance and Rural Credit, Food Security and Public Distribution System |
