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BA-HONS in Economics at P.K. Roy Memorial College, Dhanbad
Dhanbad, Jharkhand
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About the Specialization
What is Economics at P.K. Roy Memorial College, Dhanbad Dhanbad?
This BA (Hons) Economics program at Prasana Kumar Roy Memorial College, affiliated with BBMKU, focuses on providing a comprehensive understanding of economic principles, theories, and their real-world applications within the Indian context. The curriculum integrates traditional economic concepts with contemporary issues like development economics, public finance, and econometrics, preparing students for the evolving demands of the Indian job market. Its robust structure aims to foster critical thinking and analytical skills.
Who Should Apply?
This program is ideal for fresh graduates from the 10+2 system with a keen interest in understanding market dynamics, government policies, and global economic trends. It also caters to individuals aspiring for careers in research, policy analysis, and financial services in India. Students with strong analytical abilities and a desire to contribute to societal development through economic insights will find this specialization particularly rewarding.
Why Choose This Course?
Graduates of this program can expect diverse career paths in India, including roles as economic analysts, data scientists, financial advisors, research associates, and policy consultants in government, private sector, and NGOs. Entry-level salaries typically range from INR 3-6 lakhs per annum, with significant growth potential for experienced professionals. The program also serves as a strong foundation for pursuing higher education in economics, management, or public policy.
Student Success Practices
Foundation Stage
Build Strong Conceptual Foundations- (Semester 1-2)
Focus rigorously on understanding fundamental microeconomic and macroeconomic theories. Attend all lectures, take detailed notes, and clarify doubts immediately.
Tools & Resources
NCERT Economics textbooks (Class XI & XII), Basic economics guides, Khan Academy, Peer study groups
Career Connection
A solid grasp of basics is crucial for advanced courses and forms the bedrock for analytical roles in any economic domain, improving problem-solving skills.
Develop Quantitative Skills Early- (Semester 1-2)
Pay close attention to basic mathematics and statistics introduced in the initial semesters. Practice problem-solving regularly to build confidence in quantitative analysis.
Tools & Resources
High school mathematics review, Online math practice platforms, Basic statistics software tutorials, Problem sets
Career Connection
Quantitative aptitude is highly valued in economic research, finance, and data analysis roles, which are prevalent in the Indian job market.
Engage with Economic News & Current Affairs- (Semester 1-2)
Regularly read financial newspapers (e.g., The Economic Times, Business Standard) and reputable economic news websites. Discuss current economic events in class and with peers.
Tools & Resources
Reputable Indian financial newspapers, RBI publications, NITI Aayog reports, Economic blogs
Career Connection
Understanding real-world applications of economic theories is vital for interviews and for becoming an informed, job-ready professional in India.
Intermediate Stage
Master Statistical & Mathematical Tools for Economics- (Semester 3-4)
Deep dive into econometrics and mathematical economics. Practice using software for statistical analysis and apply theoretical concepts to real economic data sets.
Tools & Resources
R, Python (Pandas, NumPy, StatsModels), EViews (if accessible), Statistical textbooks
Career Connection
These are core skills for roles as data analysts, researchers, and quantitative economists in financial institutions and research firms in India.
Explore Specialization Electives Thoughtfully- (Semester 5)
Select Discipline Specific Electives (DSEs) based on your career interests. Engage actively in these courses to gain in-depth knowledge in a chosen sub-field like public finance, development, or environmental economics.
Tools & Resources
Department faculty for guidance, Industry reports related to chosen DSEs, Specialized journals
Career Connection
Specialization enhances employability by demonstrating expertise in a particular domain, making you a more targeted candidate for specific roles.
Seek Early Internship & Project Opportunities- (Semester 4-5)
Actively look for internships or volunteer for research projects, even if unpaid, to gain practical exposure. Apply theoretical knowledge to real-world problems.
Tools & Resources
College placement cell, LinkedIn, Internshala, Faculty research projects
Career Connection
Internships are critical for building a resume, gaining industry contacts, and understanding workplace dynamics, significantly improving placement prospects in India.
Advanced Stage
Undertake a Comprehensive Research Project/Dissertation- (Semester 7-8)
Dedicate significant effort to your research project or dissertation. Choose a relevant topic, conduct thorough research, and hone your analytical and writing skills.
Tools & Resources
Research guides, Academic databases (JSTOR, Google Scholar), Statistical software, Mentor faculty
Career Connection
A strong research project showcases your ability to conduct independent analysis, crucial for higher studies and research-oriented roles in India.
Network Strategically & Attend Workshops- (Semester 6-8)
Attend economics seminars, workshops, and webinars. Connect with professionals, alumni, and faculty to build a professional network. Participate in economics competitions.
Tools & Resources
Professional networking events, University alumni portal, Industry association meetings, Online forums
Career Connection
Networking can open doors to job opportunities, mentorship, and insights into industry trends, essential for career advancement in India.
Prepare Rigorously for Placements/Higher Education- (Semester 6-8)
Begin placement preparation early, focusing on quantitative aptitude, logical reasoning, general economics knowledge, and communication skills. For higher studies, prepare for entrance exams like NET, SET, or international tests.
Tools & Resources
Placement preparation books, Mock interviews, Career counseling services, Previous year''''s question papers
Career Connection
Targeted preparation significantly increases chances of securing desirable placements or admissions to prestigious postgraduate programs.
Program Structure and Curriculum
Eligibility:
- Intermediate (10+2) Pass in any stream from a recognized board.
Duration: 4 years / 8 semesters
Credits: 160 Credits
Assessment: Internal: 25%, External: 75%
Semester-wise Curriculum Table
Semester 1
Semester 2
Semester 3
Semester 4
Semester 5
| Subject Code | Subject Name | Subject Type | Credits | Key Topics |
|---|---|---|---|---|
| MEC-507 | Indian Economy-I | Major Core | 5 | Indian Economic Development, Agriculture Sector, Industrial Sector, Service Sector, Economic Reforms |
| MEC-508 | Development Economics-I | Major Core | 5 | Economic Growth, Poverty & Inequality, Human Development, Theories of Development, Population & Development |
| DSE-1 | Public Economics (Discipline Specific Elective) | Elective | 4 | Public Goods, Externalities, Taxation Principles, Budgeting, Fiscal Policy |
| DSE-2 | Financial Economics (Discipline Specific Elective) | Elective | 4 | Financial Markets, Asset Valuation, Risk Management, Derivatives, Corporate Finance |
| RP/I-1 | Research Project/Internship | Project | 4 | Research Methodology, Data Collection, Analysis, Report Writing, Presentation |
Semester 6
| Subject Code | Subject Name | Subject Type | Credits | Key Topics |
|---|---|---|---|---|
| MEC-609 | Indian Economy-II | Major Core | 5 | India''''s Foreign Trade, Balance of Payments, Poverty Alleviation, Unemployment, Regional Disparities |
| MEC-610 | Development Economics-II | Major Core | 5 | International Trade & Development, Foreign Aid, Globalization, Sustainable Development, Human Capital |
| DSE-3 | Labour Economics (Discipline Specific Elective) | Elective | 4 | Labour Market, Wage Theories, Unemployment, Trade Unions, Labour Policies |
| DSE-4 | Agricultural Economics (Discipline Specific Elective) | Elective | 4 | Agricultural Production, Land Reforms, Rural Credit, Food Security, Agricultural Marketing |
| RP/I-2 | Research Project/Internship | Project | 4 | Advanced Research Design, Field Study, Data Interpretation, Policy Recommendations, Academic Writing |
Semester 7
| Subject Code | Subject Name | Subject Type | Credits | Key Topics |
|---|---|---|---|---|
| MEC-711 | International Economics | Major Core | 5 | Theories of Trade, Tariffs, Exchange Rates, Balance of Payments, International Financial Institutions |
| MEC-712 | Applied Econometrics | Major Core | 5 | Time Series Analysis, Panel Data Models, Limited Dependent Variables, Forecasting, Economic Modeling |
| RP-1 | Dissertation/Project-I | Research Project | 8 | Literature Review, Research Problem Formulation, Methodology Design, Data Collection |
Semester 8
| Subject Code | Subject Name | Subject Type | Credits | Key Topics |
|---|---|---|---|---|
| MEC-813 | Advanced Macroeconomics | Major Core | 5 | Dynamic Macro Models, Growth Theories, Business Cycles, New Keynesian Economics, Monetary Policy Frameworks |
| MEC-814 | Economic Growth and Public Policy | Major Core | 5 | Endogenous Growth, Fiscal Policy, Monetary Policy, Trade Policy, Development Strategies |
| RP-2 | Dissertation/Project-II | Research Project | 8 | Data Analysis, Interpretation of Results, Conclusion, Policy Implications, Thesis Writing |
