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BA 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 Economics Honours program at Prasana Kumar Roy Memorial College, affiliated with Binod Bihari Mahto Koylanchal University, focuses on providing a comprehensive understanding of economic principles and their application in real-world scenarios. It equips students with analytical tools to dissect complex economic issues, crucial for navigating India''''s dynamic economic landscape, characterized by rapid growth and evolving policy challenges. The program''''s design emphasizes both theoretical foundations and practical relevance, preparing students for diverse roles.
Who Should Apply?
This program is ideal for high school graduates with a keen interest in economic theory, policy, and quantitative analysis. It attracts students aspiring for careers in research, financial services, public administration, and development sectors in India. Furthermore, it suits individuals planning to pursue higher studies in economics, management, or public policy, providing a robust academic groundwork for advanced specializations and competitive examinations for public sector roles.
Why Choose This Course?
Graduates of this program can expect diverse career paths in India, including roles as economic analysts, data scientists, policy researchers, banking professionals, and consultants. Entry-level salaries typically range from INR 3-6 lakhs per annum, with significant growth potential up to INR 10-20 lakhs or more for experienced professionals in leading Indian companies, government organizations, and international firms operating in India. The curriculum also prepares students for competitive exams like UPSC, RBI Grade B, and other public sector opportunities.
Student Success Practices
Foundation Stage
Master Economic Fundamentals- (Semester 1-2)
Focus on understanding core concepts of Microeconomics and Macroeconomics. Actively participate in lectures, review class notes, and solve end-of-chapter problems. Utilize online resources like NPTEL courses for a deeper dive and practice with sample questions to solidify understanding, building a strong base for advanced topics and competitive exams.
Tools & Resources
NPTEL courses, Standard textbooks, Practice question banks
Career Connection
Strong fundamentals are essential for cracking competitive exams and for analytical roles in any economics-related field.
Develop Mathematical Skills for Economics- (Semester 1-2)
Practice mathematical methods for economics regularly. Use textbooks with solved examples and online tutorials to grasp differentiation, integration, and matrix algebra. Join peer study groups to clarify doubts and work through complex problems, ensuring proficiency critical for quantitative economic analysis in higher semesters and job applications.
Tools & Resources
NCERT Mathematics (Class 11-12), Alpha C. Chiang ''''Fundamental Methods of Mathematical Economics'''', Khan Academy
Career Connection
Quantitative skills are highly sought after in financial analysis, data science, and economic research roles.
Enhance Communication & Environmental Awareness- (Semester 1-2)
Pay close attention to AECC courses like English Communication and Environmental Studies. Actively engage in group discussions, presentations, and writing assignments to improve verbal and written communication. Understand environmental policy issues through local case studies, which are increasingly relevant for sustainable development roles in India.
Tools & Resources
Grammarly, Toastmasters (if available), Local environmental NGOs
Career Connection
Effective communication is key for any professional role; environmental understanding is vital for sustainability and policy roles.
Intermediate Stage
Apply Theory to Indian Economic Context- (Semester 3-5)
Connect Intermediate Micro/Macroeconomics and Indian Economy topics to current events and policy debates in India. Read economic newspapers (e.g., The Economic Times, Business Standard), follow government reports (e.g., Economic Survey of India), and discuss these applications to bridge theory with practical insights, vital for careers in policy analysis and research.
Tools & Resources
The Economic Times, Business Standard, Economic Survey of India reports, RBI publications
Career Connection
This practice makes you market-ready for roles in policy-making, journalism, and economic analysis specific to India.
Cultivate Data Analysis and Research Skills- (Semester 3-5)
Focus on SEC courses like Data Analysis and Research Methodology. Learn to use basic spreadsheet software (like MS Excel) for data manipulation and visualization. Undertake small research projects or case studies, even if not formally part of the curriculum, to develop independent analytical skills sought by consulting and market research firms.
Tools & Resources
Microsoft Excel, Google Sheets, Online data science tutorials
Career Connection
Proficiency in data handling and basic research is highly valued in analytics, market research, and consultancy sectors.
Strategically Choose Elective Subjects- (Semester 3-5)
Strategically choose Generic Elective (GE) and Discipline Specific Elective (DSE) subjects that align with career aspirations, such as International Economics for trade roles or Public Finance for government positions. Network with faculty to understand career implications of each elective, helping in future specialization or postgraduate studies.
Tools & Resources
Faculty advisors, Career counseling cells, Online career guides
Career Connection
Informed elective choices enhance your resume and direct you towards specific career paths, making you a specialized candidate.
Advanced Stage
Deep Dive into Econometrics and Specialization- (Semester 6)
Excel in advanced topics like Development Economics, Indian Economy-II, and Introductory Econometrics. Master statistical software like R or Python for economic modeling. This proficiency is highly valued by analytics firms, financial institutions, and research organizations in India, opening doors to advanced quantitative roles.
Tools & Resources
R/Python programming (with ''''R for Economists'''' or ''''Python for Data Analysis''''), EViews/Stata (demo versions), Online courses on Econometrics
Career Connection
Mastery of econometrics and specialized areas leads to high-demand roles in quantitative finance, data analytics, and economic forecasting.
Prepare for Placements and Higher Education- (Semester 6)
Actively participate in placement drives and career counseling sessions. Tailor your resume and practice interview skills, focusing on quantitative aptitude, economic reasoning, and current affairs relevant to the Indian job market. For higher studies, research postgraduate programs in India and abroad, and prepare for entrance exams like NET, GATE, or GRE/GMAT.
Tools & Resources
College placement cell, Mock interview platforms, Online test prep for NET/GRE/GMAT
Career Connection
Proactive preparation significantly increases your chances of securing a good job or admission into top postgraduate programs.
Undertake Project Work or Dissertation- (Semester 6)
If offered, engage deeply in project work or a dissertation in a chosen area of Economics. This demonstrates independent research capabilities, critical thinking, and applied knowledge. Seek faculty mentorship and utilize library resources for in-depth study, which is a significant advantage for securing roles in research-oriented organizations, think tanks, or for pursuing academic careers.
Tools & Resources
College library resources, JSTOR, Google Scholar, Faculty mentors
Career Connection
A well-executed project showcases your expertise, enhancing your profile for research positions and providing a strong talking point in interviews.
Program Structure and Curriculum
Eligibility:
- No eligibility criteria specified
Duration: 3 Years / 6 Semesters
Credits: 128 Credits
Assessment: Internal: 20%, External: 80%
Semester-wise Curriculum Table
Semester 1
| Subject Code | Subject Name | Subject Type | Credits | Key Topics |
|---|---|---|---|---|
| CC-1 | Introductory Microeconomics | Core | 6 | Introduction to Economics, Demand and Supply Analysis, Consumer Behaviour Theory, Production and Cost Analysis, Market Structures |
| CC-2 | Mathematical Methods for Economics-I | Core | 6 | Basic Concepts (Variables, Functions), Equilibrium Analysis, Differentiation in Economics, Optimization Techniques, Integration in Economics |
| GE-1 | Generic Elective I | Generic Elective | 6 | Chosen from other departments (e.g., History, Political Science, English, etc.) as per university guidelines |
| AECC-1 | Environmental Studies | Ability Enhancement Compulsory Course | 2 | Multidisciplinary Nature of Environmental Studies, Ecosystems, Biodiversity and its Conservation, Environmental Pollution, Social Issues and the Environment |
Semester 2
| Subject Code | Subject Name | Subject Type | Credits | Key Topics |
|---|---|---|---|---|
| CC-3 | Introductory Macroeconomics | Core | 6 | Introduction to Macroeconomics, National Income Accounting, Determination of Output and Employment, Money and Inflation, Open Economy Macroeconomics |
| CC-4 | Mathematical Methods for Economics-II | Core | 6 | Matrix Algebra, Determinants and Inverse Matrix, Cramer''''s Rule, Input-Output Analysis, Linear Programming |
| GE-2 | Generic Elective II | Generic Elective | 6 | Chosen from other departments (e.g., History, Political Science, English, etc.) as per university guidelines |
| AECC-2 | English Communication | Ability Enhancement Compulsory Course | 2 | Theory of Communication, Reading Skills, Writing Skills, Grammar and Vocabulary, Speaking Skills |
Semester 3
| Subject Code | Subject Name | Subject Type | Credits | Key Topics |
|---|---|---|---|---|
| CC-5 | Intermediate Microeconomics-I | Core | 6 | Consumer Theory (Indifference Curve), Production Theory, Costs and Revenue, Perfect Competition, Monopoly |
| CC-6 | Intermediate Macroeconomics-I | Core | 6 | Classical and Keynesian Models, IS-LM Model, AD-AS Model, Inflation, Unemployment |
| GE-3 | Generic Elective III | Generic Elective | 6 | Chosen from other departments (e.g., History, Political Science, English, etc.) as per university guidelines |
| SEC-1 | Data Analysis | Skill Enhancement Course | 2 | Introduction to Data, Data Collection Methods, Data Presentation (Tables, Graphs), Measures of Central Tendency, Measures of Dispersion |
Semester 4
| Subject Code | Subject Name | Subject Type | Credits | Key Topics |
|---|---|---|---|---|
| CC-7 | Intermediate Microeconomics-II | Core | 6 | Oligopoly and Game Theory, Factor Pricing, General Equilibrium Analysis, Welfare Economics, Market Failures |
| CC-8 | Intermediate Macroeconomics-II | Core | 6 | Economic Growth Theories, Business Cycles, Fiscal Policy, Monetary Policy, Open Economy Macroeconomics |
| GE-4 | Generic Elective IV | Generic Elective | 6 | Chosen from other departments (e.g., History, Political Science, English, etc.) as per university guidelines |
| SEC-2 | Research Methodology | Skill Enhancement Course | 2 | Introduction to Research, Research Design, Sampling Techniques, Data Collection Methods, Report Writing |
Semester 5
| Subject Code | Subject Name | Subject Type | Credits | Key Topics |
|---|---|---|---|---|
| CC-9 | Indian Economy-I | Core | 6 | Basic Characteristics of Indian Economy, Economic Planning in India, Agriculture Sector in India, Industrial Sector in India, Service Sector in India |
| CC-10 | Development Economics-I | Core | 6 | Economic Growth and Development Concepts, Theories of Development, Poverty and Inequality, Population Growth and Development, Human Capital and Economic Development |
| DSE-1-Option A | International Economics | Discipline Specific Elective | 6 | Theories of International Trade, Terms of Trade, Trade Barriers and Policy, Balance of Payments, Exchange Rates |
| DSE-1-Option B | Public Finance | Discipline Specific Elective | 6 | Role of Government in the Economy, Public Goods and Externalities, Taxation Principles and Structure, Public Expenditure, Fiscal Policy |
| DSE-2-Option A | Financial Economics | Discipline Specific Elective | 6 | Introduction to Financial Markets, Risk and Return, Portfolio Theory, Asset Pricing Models, Derivatives Markets |
| DSE-2-Option B | Economics of Health and Education | Discipline Specific Elective | 6 | Health as an Investment, Demand and Supply of Health Care, Health Care Financing, Education as an Investment, Returns to Education |
Semester 6
| Subject Code | Subject Name | Subject Type | Credits | Key Topics |
|---|---|---|---|---|
| CC-11 | Indian Economy-II | Core | 6 | Foreign Trade and Foreign Capital in India, Economic Reforms since 1991, Infrastructure Development, Poverty, Inequality and Employment in India, Current Economic Issues and Policies |
| CC-12 | Introductory Econometrics | Core | 6 | Basic Econometric Concepts, Simple Linear Regression Model, Multiple Regression Analysis, Violations of Classical Assumptions, Introduction to Time Series Analysis |
| DSE-3-Option A | Environmental Economics | Discipline Specific Elective | 6 | Environmental Problems and Economic Growth, Valuation of Environmental Resources, Pollution Control Policies, Resource Economics, Climate Change Economics |
| DSE-3-Option B | Demography | Discipline Specific Elective | 6 | Theories of Population, Measures of Fertility, Measures of Mortality, Migration Analysis, Population Policy in India |
| DSE-4-Option A | Computer Applications in Economics | Discipline Specific Elective | 6 | Data Entry and Management, Spreadsheet Analysis (MS Excel), Statistical Software Packages (SPSS/EViews basics), Presenting Economic Data, Basic Economic Modeling with Software |
| DSE-4-Option B | Industrial Economics | Discipline Specific Elective | 6 | Industrial Organization Theories, Market Structure Analysis, Firm Conduct and Performance, Government Regulation of Industry, Industrial Growth and Policy in India |
