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MA 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 providing a comprehensive understanding of economic theories, quantitative methods, and their real-world applications. The curriculum, designed to meet contemporary industry demands, emphasizes analytical thinking and problem-solving skills crucial for navigating complex economic landscapes. It prepares students for diverse roles in India''''s rapidly evolving financial, policy, and research sectors, distinguishing itself through a blend of theoretical rigor and practical relevance.
Who Should Apply?
This program is ideal for fresh graduates with a Bachelor''''s degree in Economics or related fields who seek advanced knowledge in economic analysis. It also caters to aspiring researchers, policy analysts, and academicians aiming to deepen their expertise. Working professionals looking to upskill in areas like econometrics, development economics, or financial economics will find the program beneficial. Ideal candidates possess strong analytical abilities and a keen interest in understanding economic phenomena and policy implications.
Why Choose This Course?
Graduates of this program can expect to pursue rewarding India-specific career paths as economic analysts, data scientists, research associates, and policy consultants in government, private, and non-profit organizations. Entry-level salaries typically range from INR 3-6 lakhs per annum, with experienced professionals earning significantly higher. Graduates are well-prepared for roles in banking, financial services, consulting, and academics, with opportunities for growth into leadership and specialist positions in Indian companies and multinational corporations operating in India.
Student Success Practices
Foundation Stage
Master Core Economic Concepts- (Semester 1-2)
Dedicate time daily to thoroughly understand fundamental microeconomic and macroeconomic theories. Use textbooks, online lectures (e.g., NPTEL, Coursera''''s economics courses), and peer study groups to solidify conceptual clarity. Regularly solve numerical problems and case studies to apply theoretical knowledge.
Tools & Resources
Core Textbooks (Mankiw, Koutsoyiannis), NPTEL/Coursera for foundational courses, Peer study groups
Career Connection
Strong fundamentals are crucial for all advanced economic roles, from policy analysis to research. This builds the base for interviews and competitive exams.
Develop Quantitative Skills Early- (Semester 1-2)
Focus intensely on mastering mathematical and statistical methods for economic analysis. Practice problems from textbooks and online platforms dedicated to quantitative economics. Attend workshops on software like R or Python for basic data manipulation and visualization.
Tools & Resources
Quantitative Methods textbooks, Khan Academy for math refreshers, Online tutorials for R/Python basics
Career Connection
Enhances employability for roles requiring data analysis, econometric modeling, and quantitative research in finance and consulting.
Engage in Economic Debates and Discussions- (Semester 1-2)
Actively participate in classroom discussions, departmental seminars, and college economics clubs. Read economic news from reputable Indian sources (e.g., Livemint, The Economic Times) daily and form opinions on current economic issues. This improves critical thinking and communication skills.
Tools & Resources
Economic newspapers/magazines, College debate clubs, Departmental seminars
Career Connection
Sharpens analytical and communication skills, which are vital for policy discussions, research presentations, and interviews in economic fields.
Intermediate Stage
Apply Econometric Tools to Real Data- (Semester 3)
Once basics of econometrics are covered, actively seek opportunities to apply these tools. Use datasets from government sources (e.g., RBI, NSSO) or academic repositories. Practice using statistical software like EViews, Stata, or advanced R/Python for regression analysis and hypothesis testing.
Tools & Resources
EViews/Stata/R/Python, NSSO/RBI datasets, Kaggle for economic datasets
Career Connection
Directly prepares for roles as data analysts, econometricians, and researchers by building practical skills in statistical modeling.
Undertake Mini Research Projects/Internships- (Semester 3-4)
Identify a specific economic problem of interest and conduct a small-scale research project under faculty guidance. Alternatively, pursue short internships at local think tanks, NGOs, or research divisions of companies. This provides practical exposure to economic research and policy analysis.
Tools & Resources
Faculty advisors, Local research institutions, Internship portals
Career Connection
Gains hands-on experience, builds a research portfolio, and creates networking opportunities crucial for future job applications and higher studies.
Specialize through Electives and Advanced Readings- (Semester 3-4)
Carefully choose elective courses that align with your career interests (e.g., Financial Economics for banking, Agricultural Economics for rural development). Supplement coursework with advanced academic papers and books in your chosen specialization to gain deeper insights.
Tools & Resources
Departmental elective choices, JSTOR, Google Scholar for research papers
Career Connection
Develops niche expertise, making you a more attractive candidate for specialized roles in your preferred economic sector.
Advanced Stage
Excel in Project Work and Dissertation- (Semester 4)
Invest significant effort in your final semester project/dissertation. Choose a relevant and impactful research topic, conduct rigorous analysis, and present your findings effectively. This is a chance to showcase your entire learning and analytical capabilities.
Tools & Resources
Faculty supervisors, Academic writing guides, Presentation software
Career Connection
A strong dissertation is a powerful testament to your research and analytical abilities, highly valued by employers and for Ph.D. admissions.
Network and Attend Industry Events- (Semester 4)
Actively network with alumni, industry professionals, and faculty. Attend economics conferences, webinars, and workshops both within and outside the college. Leverage platforms like LinkedIn to connect with professionals and learn about career opportunities in economics.
Tools & Resources
LinkedIn, Economic conferences/webinars, Alumni network
Career Connection
Opens doors to internships and job opportunities through referrals, mentorship, and insights into industry trends and demands.
Prepare for Placements and Higher Studies- (Semester 4)
Start preparing for campus placements by refining your resume, practicing interview skills, and taking mock interviews. For those interested in higher studies (Ph.D., M.Phil.), research universities and prepare for entrance exams like NET/JRF or international tests. Focus on strengthening your core conceptual knowledge for viva voce.
Tools & Resources
Career Services cell, Interview preparation guides, UGC NET/JRF study materials
Career Connection
Ensures a smooth transition from academics to either a professional career or advanced research, maximizing post-graduation success.
Program Structure and Curriculum
Eligibility:
- Candidates who have secured a Bachelor’s degree with Economics / Foreign Trade / Development Economics / Business Economics as core / main subjects from any recognized University, with an aggregate of 45% marks or equivalent grade are eligible to apply for the programme. Applicants belonging to SC/ST, OEC and PWD categories are eligible for concession in marks as per university rules.
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 Behavior, Production and Costs, Market Structures, Pricing Strategies, Factor Pricing |
| ECO1C02 | Macroeconomics: Theory and Policies I | Core | 4 | National Income Accounting, Classical and Keynesian Models, Consumption and Investment Theories, Money and Inflation, Open Economy Macroeconomics |
| ECO1C03 | Indian Economy: Problems and Policies | Core | 4 | Economic Growth and Development, Agriculture and Rural Development, Industrial Sector, Poverty and Unemployment, Economic Reforms |
| ECO1C04 | Quantitative Methods for Economic Analysis I | Core | 4 | Matrix Algebra, Differential Calculus, Integral Calculus, Optimization Techniques, Difference and Differential Equations |
Semester 2
| Subject Code | Subject Name | Subject Type | Credits | Key Topics |
|---|---|---|---|---|
| ECO2C05 | Microeconomics: Theory and Applications II | Core | 4 | Welfare Economics, General Equilibrium, Market Failure and Externalities, Public Goods, Asymmetric Information |
| ECO2C06 | Macroeconomics: Theory and Policies II | Core | 4 | Theories of Money Demand and Supply, Monetary and Fiscal Policies, Business Cycles, Inflation and Unemployment, Economic Growth Models |
| ECO2C07 | Public Economics | Core | 4 | Public Goods and Externalities, Public Expenditure, Taxation Theories, Fiscal Policy, Public Debt |
| ECO2C08 | Quantitative Methods for Economic Analysis II | Core | 4 | Probability Theory, Probability Distributions, Sampling Methods, Hypothesis Testing, Correlation and Regression |
Semester 3
| Subject Code | Subject Name | Subject Type | Credits | Key Topics |
|---|---|---|---|---|
| ECO3C09 | Development Economics I | Core | 4 | Theories of Economic Development, Poverty and Inequality, Human Capital, International Trade and Development, Sustainable Development Goals |
| ECO3C10 | Econometrics I | Core | 4 | Classical Linear Regression Model, Ordinary Least Squares Estimation, Assumptions of CLRM, Hypothesis Testing in Regression, Problems of Multicollinearity |
| ECO3E01 | Agricultural Economics | Elective | 4 | Agricultural Development, Farm Management, Agricultural Marketing, Rural Credit and Finance, Food Security and Policy |
| ECO3E02 | Environmental Economics | Elective | 4 | Environmental Problems and Issues, Environmental Valuation, Pollution Control Policies, Resource Economics, Climate Change Economics |
| ECO3P01 | Project Work | Core | 2 | Research Problem Formulation, Literature Review, Data Collection Methods, Research Design, Report Writing |
Semester 4
| Subject Code | Subject Name | Subject Type | Credits | Key Topics |
|---|---|---|---|---|
| ECO4C11 | Development Economics II | Core | 4 | Globalisation and Developing Countries, International Financial Institutions, Human Development, Gender and Development, India''''s Development Experience |
| ECO4C12 | Econometrics II | Core | 4 | Dummy Variable Regression Models, Qualitative Response Models, Time Series Econometrics, Panel Data Models, Simultaneous Equation Models |
| ECO4E03 | Financial Economics | Elective | 4 | Financial Markets and Institutions, Asset Pricing Models, Portfolio Theory, Derivatives Markets, Risk Management |
| ECO4E04 | Labour Economics | Elective | 4 | Labour Market Theories, Wage Determination, Trade Unions and Collective Bargaining, Employment and Unemployment, Human Capital Theory |
| ECO4P02 | Project Work | Core | 2 | Data Analysis and Interpretation, Ethical Considerations in Research, Presentation of Findings, Conclusion and Policy Implications, Academic Writing Standards |
| ECO4V01 | Viva Voce | Core | 4 | Comprehensive Subject Knowledge, Research Project Understanding, Analytical Skills, Communication Skills, Critical Thinking |
