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MASTER-OF-ARTS in Economics at St. Thomas College (Autonomous), Thrissur
Thrissur, Kerala
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About the Specialization
What is Economics at St. Thomas College (Autonomous), Thrissur Thrissur?
This MA Economics program at St. Thomas College, Thrissur, focuses on equipping students with advanced theoretical and empirical knowledge in economics. It delves into microeconomics, macroeconomics, econometrics, and development economics, crucial for understanding India''''s evolving economic landscape. The program emphasizes critical thinking and analytical skills highly sought after in the Indian job market, offering a robust foundation for diverse career paths.
Who Should Apply?
This program is ideal for fresh graduates with a Bachelor''''s degree in Economics seeking to deepen their understanding of economic principles and their applications. It also caters to aspiring researchers, policymakers, and analysts who wish to contribute to India''''s economic growth and development. Individuals with a strong quantitative aptitude and an interest in socio-economic issues will find this program particularly rewarding.
Why Choose This Course?
Graduates of this program can expect to pursue rewarding careers as economists, data analysts, researchers, consultants, and policy advisors in India. Entry-level salaries typically range from INR 3-6 LPA, growing significantly with experience. Opportunities exist in government bodies, think tanks, financial institutions, and multinational corporations operating in India, with potential for roles in economic journalism and academia.
Student Success Practices
Foundation Stage
Master Core Economic Theories- (Semester 1-2)
Dedicate significant time to thoroughly understand microeconomic and macroeconomic theories. Utilize supplementary resources like NPTEL lectures, MIT OpenCourseWare, and classic textbooks alongside prescribed readings. Form study groups to discuss complex concepts and solve problem sets regularly.
Tools & Resources
NPTEL, Khan Academy Economics, Varian''''s Microeconomic Analysis, Dornbusch & Fischer''''s Macroeconomics
Career Connection
A strong theoretical foundation is critical for advanced roles in research, policy analysis, and economic consulting, providing the bedrock for analytical problem-solving.
Develop Quantitative & Analytical Skills- (Semester 1-2)
Focus intently on the Quantitative Methods courses. Practice extensively with mathematical tools and statistical software. Attend workshops on R, Python (for data analysis), or Stata/EViews if available. Engage in solving numerical problems daily to build proficiency.
Tools & Resources
R programming, Python (Pandas, NumPy), Stata/EViews tutorials, Coursera/edX (Data Science basics)
Career Connection
Strong quantitative skills are essential for roles as data analysts, econometricians, and financial analysts in India''''s growing data-driven economy.
Engage with Indian Economic Context- (Semester 1-2)
Actively follow economic news, policy debates, and reports related to the Indian economy. Read economic surveys, RBI reports, and articles from reputable Indian financial dailies. Participate in department seminars discussing contemporary Indian economic issues to gain context.
Tools & Resources
Economic Survey of India, RBI publications, The Economic Times, Livemint, Business Standard
Career Connection
Understanding the nuances of the Indian economy is crucial for roles in government, policy think tanks, and domestic financial institutions.
Intermediate Stage
Build Econometric Modeling Expertise- (Semester 3)
Go beyond classroom learning in Econometrics. Work on small-scale projects using real-world Indian economic data. Learn to implement various regression models, test assumptions, and interpret results using software like R, Python, or EViews to gain practical experience.
Tools & Resources
R/Python for Econometrics, EViews software, Datasets from RBI, MOSPI, World Bank (for India data)
Career Connection
This skill is highly valued for research analyst, econometrician, and forecasting roles in financial services, research firms, and government.
Explore Specializations via Electives- (Semester 3-4)
Thoughtfully select optional electives based on career interests (e.g., Environmental Economics, Financial Economics). Deep dive into these areas through independent reading, research papers, and discussions with faculty. This allows for focused skill development.
Tools & Resources
Academic journals (e.g., Indian Economic Review), NBER working papers, Specialized textbooks
Career Connection
Specialization makes you a more targeted candidate for specific roles in sectors like environmental policy, finance, or development organizations.
Network and Seek Internships- (Semester 3-4)
Attend webinars, conferences, and industry events to network with professionals and alumni. Actively seek summer internships in research institutions, banks, consulting firms, or NGOs in your area of interest. Even a short-term internship provides invaluable practical exposure.
Tools & Resources
LinkedIn, College career fair, Industry conferences, Internshala, Naukri
Career Connection
Internships are crucial for gaining practical experience, building professional contacts, and often lead to pre-placement offers in the Indian job market.
Advanced Stage
Excel in Research Project/Dissertation- (Semester 4)
Choose a research topic aligned with your career goals and work diligently on your project. Focus on rigorous methodology, data analysis, and clear communication of findings. Seek regular feedback from your faculty mentor. A strong project showcases independent research capabilities.
Tools & Resources
Statistical software (R, Python, Stata), Academic databases (JSTOR, Google Scholar), Citation management tools (Zotero, Mendeley)
Career Connection
A well-executed research project is a powerful resume booster for analytical, research, and academic roles, demonstrating practical application of knowledge.
Master Interview and Communication Skills- (Semester 4)
Prepare rigorously for placements by practicing common interview questions, group discussions, and case studies. Focus on articulating economic concepts clearly, and present your project work effectively. Attend mock interviews and feedback sessions provided by the career cell.
Tools & Resources
Career services cell, Online interview preparation platforms, Public speaking workshops
Career Connection
Strong communication and presentation skills are paramount for securing jobs in consulting, financial services, and policy, and for effective collaboration in a professional setting.
Strategic Career Planning & Upskilling- (Semester 4)
Identify specific roles and industries of interest. Bridge any skill gaps with relevant certifications (e.g., financial modeling, advanced Excel, data visualization). Tailor your resume and cover letter for each application, highlighting program-specific skills to stand out.
Tools & Resources
Online certification platforms (Coursera, edX, Udemy), Specific software training, Industry-specific job portals
Career Connection
Proactive career planning ensures targeted job applications and enhances employability in competitive sectors post-graduation, leading to better career outcomes.
Program Structure and Curriculum
Eligibility:
- B.A. Degree in Economics/Foreign Trade/Development Economics with at least 45% marks or equivalent grade from a recognized University.
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 |
|---|---|---|---|---|
| ECON 1C 01 | Microeconomics: Theory and Applications – I | Core | 4 | Consumer Behaviour Analysis, Production Theory and Costs, Perfect Competition Market, Monopoly Market Structure, Pricing Strategies |
| ECON 1C 02 | Macroeconomics: Theory and Applications – I | Core | 4 | Classical Macroeconomic Thought, Keynesian Revolution, Consumption Function Theories, Investment Decisions, Supply-Side Economics |
| ECON 1C 03 | Indian Economy: Problems and Policies – I | Core | 4 | Basic Characteristics of Indian Economy, Economic Planning in India, Agriculture Sector Analysis, Industrial Sector Development, Service Sector Growth |
| ECON 1C 04 | Quantitative Methods for Economic Analysis – I | Core | 4 | Basic Mathematical Concepts, Functions and their Applications, Differential Calculus for Economists, Matrix Algebra Fundamentals, Optimization Techniques |
Semester 2
| Subject Code | Subject Name | Subject Type | Credits | Key Topics |
|---|---|---|---|---|
| ECON 2C 05 | Microeconomics: Theory and Applications – II | Core | 4 | Oligopoly Market Structures, Game Theory Introduction, Welfare Economics Principles, General Equilibrium Theory, Externalities and Public Goods |
| ECON 2C 06 | Macroeconomics: Theory and Applications – II | Core | 4 | Theories of Money Demand and Supply, Inflation and Deflation, Business Cycles Analysis, New Classical Macroeconomics, New Keynesian Economics |
| ECON 2C 07 | Indian Economy: Problems and Policies – II | Core | 4 | Public Finance in India, Fiscal Policy Framework, External Sector and Trade, Poverty and Inequality Challenges, Labour Market Dynamics |
| ECON 2C 08 | Quantitative Methods for Economic Analysis – II | Core | 4 | Integral Calculus Applications, Linear Programming for Optimization, Input-Output Analysis, Game Theory Concepts, Basic Probability Theory |
Semester 3
| Subject Code | Subject Name | Subject Type | Credits | Key Topics |
|---|---|---|---|---|
| ECON 3C 09 | Econometrics | Core | 4 | Introduction to Econometrics, Classical Linear Regression Model (CLRM), Problems with CLRM Assumptions, Dummy Variables and Extensions, Forecasting Techniques |
| ECON 3C 10 | Growth and Development | Core | 4 | Theories of Economic Growth, Models of Economic Development, Poverty, Inequality and Malnutrition, Population and Human Resource Development, Sustainable Development |
| ECON 3E 01(A) | Optional Elective – 1 (Environmental Economics) | Elective | 4 | Environmental Problems and Economic Growth, Market Failure and Externalities, Valuation of Environmental Goods, Environmental Policy Instruments, Sustainable Development Concepts |
| ECON 3E 02(D) | Optional Elective – 2 (Research Methodology and Computer Applications) | Elective | 4 | Research Design and Types, Data Collection Methods, Sampling Techniques, Report Writing Guidelines, Computer Applications in Research |
Semester 4
| Subject Code | Subject Name | Subject Type | Credits | Key Topics |
|---|---|---|---|---|
| ECON 4C 11 | International Economics | Core | 4 | Theories of International Trade, Terms of Trade and Gains from Trade, Commercial Policy and Trade Barriers, Balance of Payments Structure, Foreign Exchange Markets and Exchange Rates |
| ECON 4C 12 | Public Economics | Core | 4 | Role of Government in the Economy, Public Goods and Externalities, Public Revenue and Taxation, Public Expenditure Analysis, Fiscal Policy and Debt |
| ECON 4E 03(A) | Optional Elective – 3 (Agricultural Economics) | Elective | 4 | Agricultural Policy in India, Food Security Challenges, Agricultural Marketing Systems, Farm Management and Productivity, Rural Development Strategies |
| ECON 4C 13 | Project and Viva Voce | Core | 4 | Research Project Formulation, Data Analysis and Interpretation, Thesis Writing and Documentation, Presentation Skills Development, Viva Voce Examination Preparation |
