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M-A in Economics at Ramkrishna Paramhans Mahavidyalaya
Unnao, Uttar Pradesh
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About the Specialization
What is Economics at Ramkrishna Paramhans Mahavidyalaya Unnao?
This M.A. Economics program at Ramkrishna Paramhans Mahavidyalaya, Unnao, focuses on rigorous theoretical and empirical training in economic principles. It addresses critical issues relevant to the Indian economy, preparing students for analytical roles. The program emphasizes advanced micro and macro analysis, quantitative methods, and specialized areas like public, international, and development economics, catering to the evolving demands of policy-making and research in India.
Who Should Apply?
This program is ideal for fresh graduates with a Bachelor''''s degree in Economics or a related field who aspire to build a strong foundation in economic theory and application. It also suits individuals passionate about economic research, public policy analysis, or those seeking advanced qualifications for academic pursuits or roles in government and think tanks across India. A keen interest in quantitative analysis and societal issues is beneficial.
Why Choose This Course?
Graduates of this program can expect diverse career paths in India, including roles as economic analysts, researchers, policy consultants, or academicians. Entry-level salaries typically range from INR 3-6 lakhs per annum, with experienced professionals earning significantly more. The program fosters critical thinking, data analysis, and problem-solving skills, aligning with demand from government bodies, research organizations, financial institutions, and NGOs in the rapidly growing Indian economy.
Student Success Practices
Foundation Stage
Strengthen Core Economic Principles- (Semester 1-2)
Dedicate time to thoroughly understand fundamental concepts in Micro and Macro Economics, as well as Quantitative Methods. Regularly review class notes, solve numerical problems, and engage in group discussions to clarify doubts. This foundational knowledge is crucial for advanced topics and competitive exams.
Tools & Resources
Standard textbooks (e.g., H.L. Ahuja, Dornbusch & Fischer), Online platforms like NPTEL for supplementary lectures, Peer study groups
Career Connection
A strong grasp of basics is essential for cracking entrance exams for higher studies (PhD) or jobs in economic research and analysis.
Develop Quantitative and Analytical Skills- (Semester 1-2)
Focus on mastering mathematical and statistical tools relevant to economics. Practice problem-solving from textbooks, attend workshops on statistical software (if available), and understand the application of these tools in economic analysis. Build a habit of reading economic data reports.
Tools & Resources
Mathematics for Economists by Alpha C. Chiang, Basic statistical software (Excel, R basics), Economic Survey of India reports
Career Connection
These skills are highly valued in roles requiring data analysis, econometric modeling, and policy evaluation in both public and private sectors.
Stay Updated with Indian Economic Affairs- (Semester 1-2)
Regularly read leading economic newspapers (e.g., The Economic Times, Business Standard) and reputable economic journals/blogs focusing on India. Understand current policies, challenges, and debates. Participate in college debates or seminars on contemporary Indian economic issues.
Tools & Resources
The Hindu Business Line, RBI publications, NITI Aayog reports, PRS Legislative Research
Career Connection
This knowledge is vital for interviews, competitive exams for civil services or RBI, and for contributing meaningfully to policy-oriented roles.
Intermediate Stage
Engage in Elective Specialization and Research- (Semester 3)
Carefully choose electives in Semester 3 based on your career interests (e.g., Agricultural, Industrial, Financial, Econometrics). Begin to identify potential research areas or topics for your project/dissertation. Read relevant academic papers and engage with faculty on research ideas.
Tools & Resources
JSTOR, Google Scholar for academic papers, Faculty mentorship, Specialized books for chosen elective
Career Connection
Deep specialization makes you a strong candidate for roles requiring specific expertise and prepares you for your final project or dissertation.
Seek Internships or Mini-Projects- (Semester 3-4 (during breaks))
Actively look for short-term internships or volunteer for mini-projects at local NGOs, research organizations, or financial institutions during breaks. This provides practical exposure to economic applications and helps build a professional network. Even short stints add valuable experience.
Tools & Resources
LinkedIn, Internshala for internship searches, College career cell for opportunities, Networking with alumni
Career Connection
Internships are crucial for gaining real-world experience, enhancing your CV, and often lead to pre-placement offers or strong referrals.
Participate in Economic Competitions & Workshops- (Semester 3-4)
Join economic essay competitions, policy formulation challenges, or data analysis workshops. These activities enhance problem-solving skills, expose you to diverse perspectives, and allow you to apply theoretical knowledge to practical scenarios. They are excellent networking opportunities.
Tools & Resources
University/college departmental announcements, National-level economics associations, Online data science platforms (e.g., Kaggle for economic datasets)
Career Connection
Participation showcases initiative and practical skills to potential employers and can lead to recognition and new learning.
Advanced Stage
Master Research & Dissertation Writing- (Semester 4)
Invest significant effort in your final semester project/dissertation. Choose a relevant topic, conduct thorough research, apply appropriate econometric/statistical tools, and write a well-structured academic paper. Seek regular feedback from your supervisor.
Tools & Resources
Data analysis software (SPSS, EViews, Stata), Referencing tools (Zotero, Mendeley), Research methodology guides
Career Connection
A strong dissertation demonstrates advanced analytical capability, research acumen, and independence, critical for research roles, think tanks, and PhD applications.
Intensive Placement and Interview Preparation- (Semester 4)
Engage in mock interviews, aptitude test preparation, and resume building workshops offered by the college career cell. Practice answering questions related to economic concepts, current affairs, and case studies. Network with alumni for insights and mentorship.
Tools & Resources
Online aptitude test platforms, Interview preparation books, Alumni network on LinkedIn
Career Connection
Targeted preparation significantly increases chances of securing desired placements in academia, government, or the private sector.
Explore Higher Education & Professional Certifications- (Semester 4 and post-graduation)
If aiming for a PhD, research programs and prepare for entrance exams (e.g., NET/JRF, GRE). Consider professional certifications in data analytics, financial modeling, or policy analysis (e.g., NISM certifications, basic Python/R for data science) to enhance employability in specialized roles.
Tools & Resources
UGC NET/JRF syllabus, Coursera/edX for specialized courses, NISM official website
Career Connection
Advanced degrees or certifications open doors to specialized research roles, academia, and higher-paying positions in finance or data-driven sectors.
Program Structure and Curriculum
Eligibility:
- No eligibility criteria specified
Duration: 2 years (4 semesters)
Credits: 80 (4 credits per paper, 5 papers per semester) Credits
Assessment: Internal: 25%, External: 75%
Semester-wise Curriculum Table
Semester 1
| Subject Code | Subject Name | Subject Type | Credits | Key Topics |
|---|---|---|---|---|
| M101 | Micro Economic Analysis – I | Core | 4 | Consumer Behavior Theories, Demand Analysis, Production and Cost Theory, Perfect Competition and Monopoly, Factor Pricing |
| M102 | Macro Economic Analysis – I | Core | 4 | National Income Accounting, Classical and Keynesian Economics, Consumption and Investment Functions, Money Demand and Supply, IS-LM Model |
| M103 | Quantitative Methods for Economic Analysis – I | Core | 4 | Basic Mathematical Concepts, Differential Calculus for Economists, Matrix Algebra, Input-Output Analysis, Linear Programming |
| M104 | Public Economics – I | Core | 4 | Role of Government in Economy, Public Goods and Externalities, Sources of Public Revenue, Principles of Taxation, Public Expenditure Theories |
| M105 | Indian Economic Policy – I | Core | 4 | Structure and Features of Indian Economy, Economic Planning in India, Agricultural Sector Performance, Industrial Sector Development, Poverty and Inequality in India |
Semester 2
| Subject Code | Subject Name | Subject Type | Credits | Key Topics |
|---|---|---|---|---|
| M201 | Micro Economic Analysis – II | Core | 4 | General Equilibrium Theory, Welfare Economics, Market Failures and Government Intervention, Economics of Information, Game Theory Applications |
| M202 | Macro Economic Analysis – II | Core | 4 | Theories of Inflation, Unemployment and Phillips Curve, Business Cycles, Open Economy Macroeconomics, Exchange Rate Determination |
| M203 | Quantitative Methods for Economic Analysis – II | Core | 4 | Probability Distributions, Statistical Inference and Hypothesis Testing, Correlation and Regression Analysis, Index Numbers and Their Uses, Time Series Analysis |
| M204 | Public Economics – II | Core | 4 | Public Debt and Debt Management, Fiscal Policy and Stabilization, Budgeting and Fiscal Federalism, Local Government Finance, Privatization and Public Sector Reforms |
| M205 | Indian Economic Policy – II | Core | 4 | Services Sector Growth in India, Foreign Trade and Balance of Payments, Capital Market Reforms, Economic Reforms and Liberalization, Contemporary Economic Challenges |
Semester 3
| Subject Code | Subject Name | Subject Type | Credits | Key Topics |
|---|---|---|---|---|
| M301 | Economics of Growth and Development – I | Core | 4 | Theories of Economic Growth, Indicators of Development, Poverty and Inequality Measures, Human Capital and Economic Development, Population and Development |
| M302 | International Economics – I | Core | 4 | Classical and Modern Trade Theories, Terms of Trade, Tariffs and Quotas, Non-Tariff Barriers, Economic Integration |
| M303 (A) | Elective – I (Agricultural Economics) | Elective | 4 | Agricultural Development Strategies, Farm Management and Efficiency, Agricultural Price Policy, Food Security and Public Distribution, Rural Credit and Marketing |
| M303 (B) | Elective – I (Industrial Economics) | Elective | 4 | Industrial Organization Theories, Market Structure and Performance, Firm Behavior and Profit Maximization, Industrial Policy in India, Innovation, Technology and R&D |
| M303 (C) | Elective – I (Economics of Environment) | Elective | 4 | Environmental Problems and Economic Growth, Resource Economics and Sustainability, Environmental Valuation Methods, Pollution Control Policies, Climate Change Economics |
| M303 (D) | Elective – I (Labour Economics) | Elective | 4 | Labour Market Analysis, Wage Determination Theories, Employment and Unemployment, Trade Unions and Collective Bargaining, Labour Welfare and Social Security |
| M304 (A) | Elective – II (Econometrics) | Elective | 4 | Introduction to Econometrics, Classical Linear Regression Model, Problems in Regression Analysis, Time Series Econometrics, Panel Data Models |
| M304 (B) | Elective – II (Monetary Economics) | Elective | 4 | Theories of Money Supply, Demand for Money, Monetary Policy Instruments, Central Banking and its Functions, Financial Markets and Institutions |
| M304 (C) | Elective – II (Financial Economics) | Elective | 4 | Financial Markets and Instruments, Asset Pricing Models, Risk and Return, Derivatives Markets, Corporate Finance Decisions |
| M304 (D) | Elective – II (Demography) | Elective | 4 | Population Theories and Models, Fertility and its Determinants, Mortality Patterns and Health, Migration Analysis, Population Policy and Development |
| M305 | Value Added Course / Skill Development Course / Project | Skill Enhancement | 4 | Research Skill Development, Data Analysis Tools, Communication and Presentation Skills, Project Report Preparation, Application of Economic Concepts |
Semester 4
| Subject Code | Subject Name | Subject Type | Credits | Key Topics |
|---|---|---|---|---|
| M401 | Economics of Growth and Development – II | Core | 4 | Human Development Index, Poverty Alleviation Programs, Sustainable Development Goals (SDGs), Role of State in Development, Planning Models and Strategies |
| M402 | International Economics – II | Core | 4 | Balance of Payments Account, Foreign Exchange Market Operations, Exchange Rate Regimes, International Financial Institutions (IMF, World Bank), Regional Trading Blocs |
| M403 (A) | Elective – III (Welfare Economics) | Elective | 4 | Pareto Optimality Criteria, Social Welfare Functions, Market Failures and Welfare Loss, Income Distribution and Poverty, Social Choice Theory |
| M403 (B) | Elective – III (History of Economic Thought) | Elective | 4 | Mercantilism and Physiocracy, Classical Economic Thought (Adam Smith, Ricardo), Marxian Economics, Neoclassical Revolution, Keynesian and Post-Keynesian Economics |
| M403 (C) | Elective – III (Gender Economics) | Elective | 4 | Gender and Development Concepts, Gender Disparities in Labour Markets, Intra-household Resource Allocation, Women''''s Empowerment and Agency, Gender-Responsive Policies |
| M403 (D) | Elective – III (Managerial Economics) | Elective | 4 | Demand Analysis and Forecasting, Production and Cost Decisions, Pricing Strategies and Practices, Capital Budgeting Decisions, Risk and Uncertainty in Business |
| M404 (A) | Elective – IV (Research Methodology for Economics) | Elective | 4 | Foundations of Research Design, Methods of Data Collection, Sampling Techniques, Hypothesis Formulation and Testing, Academic Report Writing |
| M404 (B) | Elective – IV (Computer Application in Economics) | Elective | 4 | Basic Computer Concepts, Spreadsheet Applications for Data Analysis, Statistical Software (e.g., SPSS, EViews basics), Econometric Software Introduction, Data Presentation and Visualization |
| M404 (C) | Elective – IV (Rural Development) | Elective | 4 | Concept and Scope of Rural Development, Poverty Alleviation in Rural India, Rural Infrastructure Development, Rural Employment Generation Schemes, Role of Microfinance in Rural Areas |
| M404 (D) | Elective – IV (Urban Economics) | Elective | 4 | Urbanization Trends and Theories, Economics of City Systems, Urban Land Use and Housing Markets, Urban Transportation Issues, Urban Planning and Policy |
| M405 | Project / Dissertation / Internship | Project | 4 | Research Problem Identification, Literature Review and Hypothesis, Data Collection and Analysis, Thesis Writing and Formatting, Viva-Voce Examination |
