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BACHELOR-OF-ARTS in Economics at R.K. Mahila College, Giridih
Giridih, Jharkhand
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About the Specialization
What is Economics at R.K. Mahila College, Giridih Giridih?
This Economics (Honours) program at Sri R. K. Mahila College, affiliated with Vinoba Bhave University, focuses on developing a deep understanding of economic theories, policies, and their application. It covers microeconomics, macroeconomics, econometrics, and development economics, preparing students for analytical roles in India''''s evolving economic landscape. The curriculum is designed to foster critical thinking and problem-solving skills.
Who Should Apply?
This program is ideal for high school graduates with a strong aptitude for analytical thinking and an interest in socio-economic issues. It caters to aspiring economists, researchers, policy analysts, and data scientists. Students passionate about understanding market dynamics, government policies, and global economic trends will find this specialization particularly rewarding for careers in India.
Why Choose This Course?
Graduates of this program can expect diverse career paths in India, including roles in banking, financial services, market research, and public administration. Entry-level salaries typically range from INR 3-6 lakhs per annum, with significant growth potential in government jobs (e.g., Indian Economic Service), NGOs, and corporate roles. The analytical skills acquired are highly valued across sectors.
Student Success Practices
Foundation Stage
Build Strong Foundational Concepts- (Semester 1-2)
Focus on mastering core microeconomics and mathematical methods. Utilize textbooks and supplementary online resources like NPTEL lectures, Khan Academy, and e-Pathshala for deeper understanding. Form study groups to discuss complex topics and solve problem sets collaboratively.
Tools & Resources
NPTEL, Khan Academy, e-Pathshala, VBU Library resources
Career Connection
A solid foundation is crucial for advanced economics subjects and competitive exams like the Indian Economic Service (IES) or banking sector entrance tests.
Develop Analytical and Quantitative Skills- (Semester 1-2)
Regularly practice mathematical problems from economics textbooks. Engage in basic data interpretation exercises from Indian economic surveys or reports. Attend workshops on spreadsheet software (like MS Excel) to enhance quantitative abilities, essential for economic analysis.
Tools & Resources
MS Excel, NCERT Economics textbooks, Government of India economic reports
Career Connection
These skills are directly applicable in data analysis, financial modeling, and research roles across various Indian industries.
Engage with Current Economic Affairs- (Semester 1-2)
Read reputable Indian financial newspapers (e.g., The Economic Times, Business Standard) and magazines regularly. Follow news related to RBI policies, Union Budgets, and economic reforms. Participate in college debates or discussions on contemporary Indian economic issues.
Tools & Resources
The Economic Times, Business Standard, PRS Legislative Research
Career Connection
Cultivates an informed perspective vital for careers in policy analysis, journalism, and civil services in India.
Intermediate Stage
Apply Economic Theories to Indian Context- (Semester 3-5)
For subjects like Indian Economy and Development Economics, analyze case studies and government schemes relevant to India. Research the impact of policies like GST or demonetization. Participate in local economic surveys or small-scale field studies if opportunities arise.
Tools & Resources
NITI Aayog reports, Reserve Bank of India bulletins, Academic journals focusing on Indian economy
Career Connection
Enhances understanding of real-world economic challenges in India, preparing for roles in development sector, policy research, and government.
Build Basic Econometric and Statistical Proficiency- (Semester 3-5)
Learn basic statistical software (e.g., R, EViews, SPSS - often available in college labs). Practice running simple regressions and interpreting results using real Indian economic data (e.g., from NSSO, MOSPI). Seek guidance from faculty for small data projects.
Tools & Resources
R (open source), EViews/SPSS (if available in college), MOSPI data, NSSO reports
Career Connection
Essential for roles requiring data analysis, forecasting, and quantitative research in both public and private sectors in India.
Explore Internships and Networking- (Semester 3-5)
Actively seek summer internships with local NGOs, small businesses, research firms, or government departments in Jharkhand or nearby cities. Attend economics seminars or webinars organized by universities or industry bodies. Network with alumni for mentorship and career insights.
Tools & Resources
LinkedIn, College placement cell, University career fairs
Career Connection
Provides practical work experience, builds professional contacts, and can lead to pre-placement offers in relevant Indian industries.
Advanced Stage
Specialize through Electives and Research- (Semester 6)
Carefully choose DSE subjects that align with specific career interests (e.g., Financial Economics for banking, Environmental Economics for sustainability roles). Undertake a dissertation or project work on a contemporary Indian economic issue under faculty guidance, demonstrating independent research skills.
Tools & Resources
Academic databases (JSTOR, Google Scholar), Specific software for chosen DSE (e.g., EViews for econometrics), VBU research guidelines
Career Connection
Deepens expertise in a chosen sub-field, making candidates more competitive for niche roles and higher education in India.
Prepare for Higher Studies and Competitive Exams- (Semester 6)
Begin intensive preparation for postgraduate entrance exams (e.g., DUET, JNU, IGIDR) or competitive civil services exams (UPSC, JPSC) relevant to economics. Enroll in mock tests and revision courses. Focus on time management and analytical problem-solving.
Tools & Resources
Previous year question papers, Coaching institutes, Online test series, Relevant postgraduate entrance exam textbooks
Career Connection
Direct pathway to advanced academic qualifications or esteemed government positions in India.
Enhance Communication and Presentation Skills- (Semester 6)
Actively participate in presentations, seminars, and group discussions. Practice articulating complex economic ideas clearly and concisely. Develop professional report writing skills for project submissions and future job applications. Seek feedback on communication style.
Tools & Resources
College communication workshops, Presentation software (PowerPoint, Google Slides), Peer review sessions
Career Connection
Crucial for interviews, professional report writing, and effective communication in any corporate or public sector role in India.
Program Structure and Curriculum
Eligibility:
- No eligibility criteria specified
Duration: 3 Years (6 Semesters)
Credits: 144 Credits
Assessment: Internal: 30%, External: 70%
Semester-wise Curriculum Table
Semester 1
| Subject Code | Subject Name | Subject Type | Credits | Key Topics |
|---|---|---|---|---|
| AECC-1 | Environmental Studies | Ability Enhancement Compulsory Course | 2 | Nature of Environmental Studies, Natural Resources, Ecosystems, Biodiversity and its Conservation, Environmental Pollution, Social Issues and the Environment |
| CC-1 | Introductory Microeconomics | Core | 6 | Introduction to Economics, Theory of Consumer Behaviour, Theory of Production and Cost, Market Structure, Welfare Economics |
| CC-2 | Mathematical Methods for Economics-I | Core | 6 | Preliminaries, Functions, Differentiation, Comparative Statics, Optimization, Integrals |
| GE-1 | Generic Elective - I (from other discipline) | Generic Elective | 6 |
Semester 2
| Subject Code | Subject Name | Subject Type | Credits | Key Topics |
|---|---|---|---|---|
| AECC-2 | English Communication / MIL Communication | Ability Enhancement Compulsory Course | 2 | Language and Communication, Reading Skills, Writing Skills, Speaking Skills, Grammar and Vocabulary |
| CC-3 | Intermediate Microeconomics-I | Core | 6 | Consumer Theory, Production and Cost, Market Structures, General Equilibrium, Welfare Economics |
| CC-4 | Intermediate Macroeconomics-I | Core | 6 | National Income Accounting, Classical System, Keynesian System, IS-LM Model, Money and Inflation |
| GE-2 | Generic Elective - II (from other discipline) | Generic Elective | 6 |
Semester 3
| Subject Code | Subject Name | Subject Type | Credits | Key Topics |
|---|---|---|---|---|
| SEC-1 | Indian Economy-I | Skill Enhancement Course | 4 | Basic Characteristics of Indian Economy, Agricultural Sector, Industrial Sector, Service Sector, External Sector |
| CC-5 | Intermediate Microeconomics-II | Core | 6 | Market Structure, Factor Markets, General Equilibrium, Welfare Economics, Asymmetric Information |
| CC-6 | Intermediate Macroeconomics-II | Core | 6 | Consumption and Investment, Aggregate Demand and Supply, Open Economy Macroeconomics, Fiscal Policy, Monetary Policy |
| CC-7 | History of Economic Thought | Core | 6 | Early Economic Thought, Mercantilism and Physiocracy, Classical Economics, Marxian Economics, Neo-Classical Economics, Keynesian Revolution |
| GE-3 | Generic Elective - III (from other discipline) | Generic Elective | 6 |
Semester 4
| Subject Code | Subject Name | Subject Type | Credits | Key Topics |
|---|---|---|---|---|
| SEC-2 | Indian Economy-II | Skill Enhancement Course | 4 | Economic Growth and Development, Poverty and Inequality, Population, Human Capital and Economic Development, Unemployment in India, Government Policies and Reforms |
| CC-8 | Econometrics | Core | 6 | Nature and Scope of Econometrics, Classical Linear Regression Model, Violations of Classical Assumptions, Dummy Variables, Time Series Econometrics |
| CC-9 | Development Economics-I | Core | 6 | Economic Development, Theories of Economic Growth, Poverty and Inequality, Human Development, Role of Agriculture and Industry |
| CC-10 | Public Economics | Core | 6 | Introduction to Public Economics, Public Goods and Externalities, Taxation, Public Expenditure, Fiscal Policy and Debt |
| GE-4 | Generic Elective - IV (from other discipline) | Generic Elective | 6 |
Semester 5
| Subject Code | Subject Name | Subject Type | Credits | Key Topics |
|---|---|---|---|---|
| CC-11 | International Economics | Core | 6 | Theories of International Trade, Tariffs and Non-Tariff Barriers, Balance of Payments, Foreign Exchange Market, International Economic Organizations |
| CC-12 | Growth and Development | Core | 6 | Theories of Economic Growth, Sources of Growth, Poverty, Inequality, and Development, Environmental Economics and Sustainable Development, Development Policy and Planning |
| DSE-1 (a) | Economics of Health and Education | Discipline Specific Elective Choice | 6 | Role of Health and Education in Economic Development, Demand and Supply for Health, Health Financing, Education as an Investment, Educational Planning and Policy |
| DSE-1 (b) | Environmental Economics | Discipline Specific Elective Choice | 6 | Environmental Problems and Economic Growth, Economic Theories of Environment, Environmental Valuation, Environmental Policy Instruments, Sustainable Development |
| DSE-1 (c) | Financial Economics | Discipline Specific Elective Choice | 6 | Time Value of Money and Investment Decisions, Financial Markets and Instruments, Risk and Return, Portfolio Theory, Asset Pricing Models |
| DSE-1 (d) | Indian Economic Policy | Discipline Specific Elective Choice | 6 | Economic Reforms in India, Macroeconomic Policies (Fiscal and Monetary), Sectoral Policies (Agriculture, Industry), Social Sector Policies, External Sector Policies and Globalization |
| DSE-1 (e) | Research Methodology | Discipline Specific Elective Choice | 6 | Introduction to Research, Research Design and Types, Data Collection Methods, Sampling Techniques, Data Analysis and Interpretation, Report Writing |
| DSE-2 (a) | Applied Econometrics | Discipline Specific Elective Choice | 6 | Panel Data Models, Limited Dependent Variable Models, Time Series Models, Forecasting Techniques, Applications of Econometrics |
| DSE-2 (b) | Rural Economics | Discipline Specific Elective Choice | 6 | Rural Development Concepts, Agricultural Development Strategies, Rural Poverty and Employment, Rural Infrastructure, Rural Credit and Marketing |
| DSE-2 (c) | Labour Economics | Discipline Specific Elective Choice | 6 | Labour Market Theories, Wage Determination, Unemployment and Employment Policies, Trade Unions and Collective Bargaining, Labour Welfare and Legislation |
| DSE-2 (d) | Computer Application in Economic Analysis | Discipline Specific Elective Choice | 6 | Introduction to Statistical Software (e.g., SPSS, R), Data Management and Data Entry, Descriptive Statistics using Software, Inferential Statistics and Hypothesis Testing, Regression Analysis with Software |
| DSE-2 (e) | Dissertation / Project Work | Discipline Specific Elective Choice | 6 | Identification of Research Problem, Literature Review, Formulation of Objectives and Methodology, Data Collection and Analysis, Report Writing and Presentation |
Semester 6
| Subject Code | Subject Name | Subject Type | Credits | Key Topics |
|---|---|---|---|---|
| CC-13 | Indian Fiscal System | Core | 6 | Public Finance in India, Budgeting Process and Fiscal Policy, Taxation System in India, Public Expenditure and Debt, Fiscal Federalism in India |
| CC-14 | Environmental Economics and Demography | Core | 6 | Environmental Quality and Resource Scarcity, Economic Valuation of Environmental Goods, Population Theories, Demographic Transition, Population Policy in India |
| DSE-3 (a) | Issues in Indian Economy | Discipline Specific Elective Choice | 6 | Poverty and Inequality in India, Employment and Unemployment Challenges, Inflation and Price Stability, Fiscal Imbalances and Reforms, External Sector Issues and Globalization |
| DSE-3 (b) | Welfare Economics | Discipline Specific Elective Choice | 6 | Pareto Optimality, Social Welfare Functions, Market Failure, Externalities and Public Goods, Asymmetric Information |
| DSE-3 (c) | Agricultural Economics | Discipline Specific Elective Choice | 6 | Agricultural Sector in India, Agricultural Production and Productivity, Agricultural Marketing and Pricing, Agricultural Policy and Reforms, Food Security and Public Distribution System |
| DSE-3 (d) | Regional Economics | Discipline Specific Elective Choice | 6 | Theories of Regional Growth, Regional Disparities and Development, Regional Planning and Policies, Urban Economics, Rural-Urban Migration and its Impact |
| DSE-3 (e) | Economics of Social Sector and Environment | Discipline Specific Elective Choice | 6 | Human Development Index, Health and Education Outcomes, Environmental Degradation and Pollution, Climate Change Economics, Sustainable Development Goals |
| DSE-4 (a) | Demography | Discipline Specific Elective Choice | 6 | Sources of Demographic Data, Population Theories, Fertility and its Determinants, Mortality and Morbidity, Migration and Population Structure, Population Policy in India |
| DSE-4 (b) | Computer Application in Economics | Discipline Specific Elective Choice | 6 | Introduction to Spreadsheets for Economic Data, Statistical Software Packages (e.g., R, EViews), Data Visualization and Presentation, Regression Analysis using Software, Economic Modelling with Computers |
| DSE-4 (c) | International Trade | Discipline Specific Elective Choice | 6 | Classical Theories of International Trade, Modern Theories of International Trade, Gains from Trade, Trade Policy and Instruments, World Trade Organization (WTO) |
| DSE-4 (d) | Financial Institutions and Markets | Discipline Specific Elective Choice | 6 | Structure of Financial System in India, Money Market, Capital Market, Financial Intermediaries, Regulatory Framework of Financial Markets |
| DSE-4 (e) | Project Work / Dissertation | Discipline Specific Elective Choice | 6 | Selection of Research Topic, Detailed Research Design, Data Collection and Fieldwork, Quantitative and Qualitative Data Analysis, Final Project Report and Presentation |
