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M-A-ECONOMICS in Mathematical Economics at ST. JOSEPH'S COLLEGE (AUTONOMOUS) DEVAGIRI
Kozhikode, Kerala
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About the Specialization
What is Mathematical Economics at ST. JOSEPH'S COLLEGE (AUTONOMOUS) DEVAGIRI Kozhikode?
This M.A. Economics program at St. Joseph''''s College, Devagiri, while titled ''''M.A. Economics'''', offers a robust foundation heavily focused on Mathematical Economics through its core and elective papers. It emphasizes the application of quantitative methods, econometrics, and advanced mathematical tools to analyze complex economic theories and real-world problems. The program is designed to equip students with rigorous analytical capabilities highly sought after in India''''s growing data-driven economy.
Who Should Apply?
This program is ideal for graduates with a background in Economics, Mathematics, or Statistics who possess a strong aptitude for quantitative analysis and a keen interest in economic modeling. It caters to fresh graduates seeking entry into analytical roles, research, or higher studies, as well as professionals looking to upskill their quantitative prowess in economic theory and application.
Why Choose This Course?
Graduates of this program can expect to pursue India-specific career paths in economic research, data analysis, policy formulation, financial modeling, and academia. Entry-level salaries typically range from INR 3.5 to 6 LPA, with experienced professionals potentially earning INR 10-20+ LPA in roles at think tanks, government bodies, banks, and analytics firms. The rigorous training also prepares students for competitive exams like UGC NET, UPSC (Economics), and RBI Grade B (DEPR).
Student Success Practices
Foundation Stage
Master Core Quantitative Methods- (Semester 1-2)
Dedicate significant time to understanding and practicing concepts from Quantitative Methods for Economic Analysis I & II. Build a strong base in calculus, linear algebra, probability, and basic statistics, as these are the pillars of advanced economic analysis.
Tools & Resources
Textbooks on Mathematical Economics (e.g., Alpha C. Chiang, Carl P. Simon & Lawrence Blume), Online platforms like Khan Academy for foundational math, Practice problem sets
Career Connection
A strong quantitative foundation is critical for excelling in econometrics and economic modeling, opening doors to research and analytical roles.
Develop Programming Skills for Data Analysis- (Semester 1-2)
Start learning a programming language widely used in economics and data science. Python or R are excellent choices for statistical analysis, data visualization, and econometric modeling.
Tools & Resources
Coursera/edX courses on Python/R for Data Science, Books like ''''R for Data Science'''' by Hadley Wickham, Jupyter Notebooks for practice
Career Connection
Proficiency in coding enhances employability in data analytics, economic consulting, and financial sectors where empirical analysis is key.
Engage in Economic Debates and Discussions- (Semester 1-2)
Actively participate in departmental seminars, workshops, and study groups. Discuss current economic affairs, theories, and policy challenges to develop critical thinking and articulate economic perspectives.
Tools & Resources
The Hindu/Indian Express economic sections, Economic and Political Weekly (EPW), NITI Aayog reports, Peer study groups
Career Connection
Improves communication skills and holistic understanding of economic issues, beneficial for interviews and policy-oriented roles.
Intermediate Stage
Deep Dive into Econometrics Software- (Semester 3)
Gain hands-on experience with specialized econometric software like Stata, EViews, or R. Apply concepts from the Econometrics course to real datasets for practical model building and interpretation.
Tools & Resources
Official software documentation and tutorials, University lab resources, Online data repositories (e.g., World Bank, RBI, MOSPI), Applied Econometrics textbooks with software examples
Career Connection
Practical software skills are a non-negotiable requirement for roles in economic research, data analytics, and policy analysis.
Undertake Mini Research Projects/Case Studies- (Semester 3)
Collaborate with peers or faculty on small research projects focusing on Indian economic issues. This provides practical experience in applying theoretical knowledge and quantitative methods to real-world problems.
Tools & Resources
Departmental research forums, Faculty guidance, Access to economic databases, Academic journals focusing on India
Career Connection
Builds a portfolio of research work, enhances analytical skills, and demonstrates research aptitude to potential employers or for PhD applications.
Attend Industry Webinars and Guest Lectures- (Semester 3)
Seek out and attend webinars, guest lectures, and conferences hosted by leading Indian economists, policymakers, and industry experts. This provides exposure to current trends and networking opportunities.
Tools & Resources
Websites of RBI, NITI Aayog, IIMs, ISI, LinkedIn events, Professional associations
Career Connection
Expands understanding of industry applications of economics, provides valuable insights, and helps build professional connections.
Advanced Stage
Focus on Project-Based Learning and Advanced Econometrics- (Semester 4)
Select a challenging and relevant topic for your final project, heavily utilizing advanced econometric techniques and software. Ensure your project demonstrates strong analytical capabilities and addresses a significant economic question.
Tools & Resources
Mentorship from faculty, Advanced econometrics textbooks, Specialized software capabilities, High-quality academic data sources
Career Connection
A robust, well-executed project is a powerful resume booster and a strong talking point in interviews for research and analytical roles.
Prepare for Competitive Exams and Placements- (Semester 4)
Systematically prepare for competitive examinations relevant to economics graduates in India (e.g., UGC NET, UPSC Civil Services, RBI Grade B DEPR, IES). Simultaneously, refine your resume, practice quantitative aptitude, and prepare for interviews for placement opportunities.
Tools & Resources
Previous year question papers, Online mock tests, Career counseling services, Interview preparation guides, Networking with alumni
Career Connection
Directly leads to successful career entry into government, public sector banks, academia, or private research organizations.
Develop Communication and Presentation Skills- (Semester 4)
Practice presenting your project findings and economic analyses clearly and concisely. Participate in mock vivas and presentations to enhance your ability to articulate complex ideas to diverse audiences.
Tools & Resources
Presentation software (PowerPoint, Google Slides), Feedback from peers and faculty, Public speaking clubs/workshops
Career Connection
Effective communication is crucial for roles in consulting, policy advocacy, teaching, and leading teams in any economic domain.
Program Structure and Curriculum
Eligibility:
- Any candidate who has passed B.A. Economics/B.Sc. Mathematics/B.Sc. Statistics with minimum 45% marks in the main/core papers. For SC/ST/OEC candidates, a pass in the qualifying examination is sufficient. For SEBC and physically challenged candidates, 3% and 5% relaxation of marks respectively will be given.
Duration: 4 semesters (2 years)
Credits: 80 Credits
Assessment: Internal: 20%, External: 80%
Semester-wise Curriculum Table
Semester 1
| Subject Code | Subject Name | Subject Type | Credits | Key Topics |
|---|---|---|---|---|
| ECO1C01 | Microeconomics: Theory and Applications – I | Core | 4 | Consumer Behaviour, Production and Costs, Market Structures, Welfare Economics, General Equilibrium |
| ECO1C02 | Macroeconomics: Theory and Applications – I | Core | 4 | Classical Economics, Keynesian Economics, Post-Keynesian Developments, Consumption and Investment Functions, Theories of Inflation |
| ECO1C03 | Quantitative Methods for Economic Analysis – I | Core | 4 | Matrix Algebra, Differential Calculus, Optimization Techniques, Integral Calculus, Difference Equations |
| ECO1C04 | Indian Economy: Problems and Policies – I | Core | 4 | Structure of Indian Economy, Agricultural Sector, Industrial Sector, Service Sector, Economic Reforms |
| ECO1A01 | Foundation Course: History of Economic Thought | Core (Foundation) | 4 | Mercantilism and Physiocracy, Classical School, Marxian Economics, Neoclassical Economics, Keynesian Revolution |
Semester 2
| Subject Code | Subject Name | Subject Type | Credits | Key Topics |
|---|---|---|---|---|
| ECO2C05 | Microeconomics: Theory and Applications – II | Core | 4 | Game Theory, Information Economics, General Equilibrium Analysis, Externalities and Public Goods, Asymmetric Information |
| ECO2C06 | Macroeconomics: Theory and Applications – II | Core | 4 | Business Cycles, Monetary Policy, Fiscal Policy, Open Economy Macroeconomics, Economic Growth Models |
| ECO2C07 | Quantitative Methods for Economic Analysis – II | Core | 4 | Probability Theory, Statistical Distributions, Hypothesis Testing, Correlation and Regression, Sampling Methods |
| ECO2C08 | Indian Economy: Problems and Policies – II | Core | 4 | Poverty and Inequality, Unemployment Issues, Population Dynamics, Infrastructure Development, Fiscal and Monetary Policy in India |
| ECO2A02 | Foundation Course: Environmental Economics | Core (Foundation) | 4 | Environmental Problems, Valuation Methods, Environmental Policies, Sustainable Development, Climate Change Economics |
Semester 3
| Subject Code | Subject Name | Subject Type | Credits | Key Topics |
|---|---|---|---|---|
| ECO3C09 | Econometrics | Core | 4 | Classical Linear Regression Model, Violations of Assumptions, Dummy Variables, Time Series Econometrics, Panel Data Models |
| ECO3C10 | International Economics | Core | 4 | Theories of International Trade, Trade Policy Instruments, Balance of Payments, Foreign Exchange Markets, International Financial Institutions |
| ECO3C11 | Public Economics | Core | 4 | Public Goods and Externalities, Public Expenditure Analysis, Principles of Taxation, Fiscal Policy and Debt, Federal Finance in India |
| ECO3E03 | Elective – I: Econometric Methods | Elective (chosen for Mathematical Economics specialization) | 4 | Advanced Regression Models, Simultaneous Equation Models, Limited Dependent Variable Models, Panel Data Econometrics, Instrumental Variables |
Semester 4
| Subject Code | Subject Name | Subject Type | Credits | Key Topics |
|---|---|---|---|---|
| ECO4C12 | Growth and Development | Core | 4 | Theories of Economic Growth, Models of Development, Income Inequality and Poverty, Sustainable Development, Human Capital and Growth |
| ECO4E05 | Elective – II: Applied Econometrics | Elective (chosen for Mathematical Economics specialization) | 4 | Advanced Time Series Analysis, Vector Autoregressive (VAR) Models, Cointegration and Error Correction Models, ARCH/GARCH Models, Microeconometrics Applications |
| ECO4E09 | Project | Core | 4 | Research Problem Formulation, Data Collection and Analysis, Econometric Software Application, Interpretation of Results, Report Writing and Presentation |
| ECO4VV | Viva Voce | Core | 4 | Comprehensive Subject Knowledge, Research Project Understanding, Oral Communication Skills, Critical Thinking and Defense, Application of Economic Principles |
