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M-A in Economics at Swami Dayanand College, Pariya
Gaya, Bihar
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About the Specialization
What is Economics at Swami Dayanand College, Pariya Gaya?
This M.A. Economics program at Swami Dayanand College, Gaya, affiliated with Magadh University, focuses on equipping students with advanced theoretical and empirical skills in economic analysis. It covers core areas like microeconomics, macroeconomics, econometrics, and development economics, crucial for understanding India''''s evolving economic landscape. The program aims to foster critical thinking about current economic policies and challenges in the Indian context.
Who Should Apply?
This program is ideal for economics graduates seeking to deepen their understanding of economic principles and their application. It suits individuals aspiring for research roles, government positions, or careers in economic consulting firms within India. Fresh graduates looking for a strong foundation before pursuing PhDs or entering policy analysis will also find this program beneficial for their career trajectory.
Why Choose This Course?
Graduates of this program can expect to pursue diverse career paths in India, including roles as economic analysts, researchers, data scientists, and policy advisors. Entry-level salaries typically range from INR 3-6 LPA, with significant growth potential up to INR 10-15 LPA or more with experience in leading Indian firms or institutions. The rigorous curriculum also prepares students for competitive exams like UPSC and RBI Grade B.
Student Success Practices
Foundation Stage
Strengthen Core Economic Concepts- (Semester 1-2)
Dedicate time to thoroughly understand micro and macroeconomics fundamentals. Use textbooks beyond classroom notes and actively participate in tutorial sessions. This ensures a strong base for advanced topics.
Tools & Resources
NPTEL lectures on Economics, Mankiw''''s Economics textbook, Online quizzes on basic economics
Career Connection
A solid conceptual understanding is vital for clearing competitive exams and for logical problem-solving in any economics-related career.
Master Quantitative Methods- (Semester 1-2)
Practice regularly with quantitative methods like calculus, matrix algebra, and basic econometrics. Solve problems from textbooks and previous year question papers. Join study groups to clarify doubts.
Tools & Resources
R/Python for basic data analysis, Khan Academy for math concepts, GRE Quant practice books
Career Connection
Proficiency in quantitative tools is highly sought after by data analytics firms, research institutions, and financial companies in India.
Engage with Indian Economic Issues- (Semester 1-2)
Regularly read economic newspapers like The Economic Times and Business Standard, and magazines like EPW. Follow debates on Indian economic policy and current affairs to contextualize classroom learning.
Tools & Resources
The Hindu/Indian Express economics sections, RBI publications, Government economic surveys
Career Connection
Developing an informed perspective on Indian economics is crucial for roles in policy analysis, civil services, and economic journalism.
Intermediate Stage
Develop Research and Data Skills- (Semester 3-4)
Actively seek opportunities for minor research projects or term papers. Learn statistical software like Stata, EViews, or R beyond basic modules to analyze real-world economic data.
Tools & Resources
Stata/R/Python tutorials, Datasets from NSSO, MOSPI, World Bank, Research methodology textbooks
Career Connection
These skills are essential for research roles, think tanks, and any position requiring empirical analysis and evidence-based decision-making.
Network and Seek Mentorship- (Semester 3-4)
Attend departmental seminars, guest lectures, and workshops. Connect with faculty members and alumni to understand career paths and gain insights. Participate in inter-college economics competitions.
Tools & Resources
LinkedIn for professional networking, University alumni portal, Departmental seminar series
Career Connection
Networking opens doors to internship opportunities, mentorship, and a better understanding of industry expectations for placements.
Specialize through Electives- (Semester 3-4)
Strategically choose elective papers based on your career interests, whether it''''s public policy, finance, development, or econometrics. Delve deep into these chosen areas to build a niche.
Tools & Resources
Advanced textbooks in chosen elective areas, Online courses (e.g., Coursera) for specialized skills
Career Connection
Specialization enhances your profile for targeted job roles and demonstrates expertise to potential employers in relevant sectors.
Advanced Stage
Undertake Dissertation/Project Work- (Semester 4)
Choose a relevant research topic, preferably with an Indian context, and conduct thorough research under faculty guidance. This showcases your analytical and research capabilities.
Tools & Resources
Academic databases (JSTOR, Google Scholar), Plagiarism checker tools, Referencing software (Zotero)
Career Connection
A strong dissertation is a key differentiator for higher studies, research positions, and can be a talking point in job interviews.
Prepare for Placements and Interviews- (Semester 4)
Actively participate in placement cell activities. Practice mock interviews, group discussions, and aptitude tests. Refine your resume and cover letter, highlighting relevant skills and projects.
Tools & Resources
Online aptitude test platforms, Interview preparation guides, Career counseling services
Career Connection
Effective preparation is crucial for securing desirable placements in various economic and analytical roles in India''''s job market.
Pursue Advanced Certifications/Entrance Exams- (Semester 4 onwards)
Consider taking certification courses in areas like data analytics, financial modeling, or policy analysis. For higher studies, prepare for entrance exams like UGC NET, JRF, or PhD admissions.
Tools & Resources
NISM certifications (for finance), SAS/SPSS certifications, UGC NET study material
Career Connection
These add significant value to your profile, enhancing employability or facilitating entry into advanced academic or professional programs.
Program Structure and Curriculum
Eligibility:
- Bachelor’s degree in Economics or an allied subject from a recognized university, typically with a minimum of 45% marks as per Magadh University norms.
Duration: 4 semesters / 2 years
Credits: 96 Credits
Assessment: Internal: 20%, External: 80%
Semester-wise Curriculum Table
Semester 1
| Subject Code | Subject Name | Subject Type | Credits | Key Topics |
|---|---|---|---|---|
| MECC-101 | Micro Economics – I | Core | 6 | Consumer Behavior Theories, Demand Analysis, Production Functions, Cost Theory, Perfect Competition |
| MECC-102 | Macro Economics – I | Core | 6 | National Income Accounting, Classical Economic Theories, Keynesian Economics, Consumption and Investment Functions, Money Supply and Demand |
| MECC-103 | Quantitative Methods for Economic Analysis – I | Core | 6 | Mathematical Tools for Economics, Differential Calculus, Matrix Algebra, Linear Programming, Input-Output Analysis |
| MECC-104 | Indian Economic Policy – I | Core | 6 | Structure of Indian Economy, Economic Planning in India, Agriculture Sector Challenges, Industrial Policy Development, Poverty and Inequality in India |
Semester 2
| Subject Code | Subject Name | Subject Type | Credits | Key Topics |
|---|---|---|---|---|
| MECC-201 | Micro Economics – II | Core | 6 | Welfare Economics, General Equilibrium Analysis, Game Theory Applications, Externalities and Public Goods, Market Failure |
| MECC-202 | Macro Economics – II | Core | 6 | Theories of Inflation, Unemployment Dynamics, Business Cycle Analysis, Monetary and Fiscal Policies, Open Economy Macroeconomics |
| MECC-203 | Quantitative Methods for Economic Analysis – II | Core | 6 | Integral Calculus, Optimization Techniques, Correlation and Regression Analysis, Time Series Analysis, Index Numbers |
| MECC-204 | Indian Economic Policy – II | Core | 6 | Services Sector Growth in India, Foreign Trade and BOP, Public Finance in India, Economic Reforms since 1991, Financial Sector Reforms |
Semester 3
| Subject Code | Subject Name | Subject Type | Credits | Key Topics |
|---|---|---|---|---|
| MECC-301 | Development Economics – I | Core | 6 | Theories of Economic Development, Poverty, Inequality, and Growth, Population and Human Capital, Agricultural Transformation, Industrialization Strategies |
| MECC-302 | Public Economics – I | Core | 6 | Role of Government in Economy, Public Goods and Externalities, Principles of Public Expenditure, Theory of Taxation, Budgeting and Fiscal Policy |
| MECE-303 (A) | Industrial Economics | Elective | 6 | Industrial Organization Theories, Market Structure and Concentration, Industrial Location Decisions, Industrial Finance Sources, Small Scale Industries |
| MECE-303 (B) | Economics of Agriculture | Elective | 6 | Agricultural Development Theories, Land Reforms in India, Agricultural Marketing Issues, Rural Credit and Indebtedness, Food Security Policies |
| MECE-303 (C) | International Trade & Finance – I | Elective | 6 | Classical Trade Theories, Modern Trade Theories, Terms of Trade, Trade Barriers and Protectionism, Balance of Payments |
| MECE-303 (D) | Environmental Economics – I | Elective | 6 | Environmental Problems, Economic Growth vs. Environment, Environmental Valuation Methods, Pollution Control Mechanisms, Sustainable Development Concepts |
| MECE-304 (A) | Financial Institutions and Markets – I | Elective | 6 | Structure of Indian Financial System, Money Market Instruments, Capital Market Operations, Commercial Banking Sector, Role of Reserve Bank of India |
| MECE-304 (B) | Econometrics – I | Elective | 6 | Classical Linear Regression Model, Ordinary Least Squares (OLS), Hypothesis Testing, Multicollinearity, Heteroscedasticity |
| MECE-304 (C) | Demography – I | Elective | 6 | Population Theories, Fertility Measurement, Mortality Analysis, Migration Patterns, Population Policy in India |
| MECE-304 (D) | Labour Economics – I | Elective | 6 | Labour Market Theories, Wage Determination Models, Role of Trade Unions, Labour Legislation in India, Unemployment Concepts |
Semester 4
| Subject Code | Subject Name | Subject Type | Credits | Key Topics |
|---|---|---|---|---|
| MECC-401 | Development Economics – II | Core | 6 | Economic Planning Models, International Aid and Development, Foreign Capital Inflows, Sustainable Development Goals (SDGs), Human Development Index (HDI) |
| MECC-402 | Public Economics – II | Core | 6 | Fiscal Federalism in India, Public Debt Management, Principles of Government Budgeting, Fiscal Policy Tools, Taxation System in India |
| MECE-403 (A) | Economics of Growth | Elective | 6 | Theories of Economic Growth, Harrod-Domar Model, Solow Growth Model, Endogenous Growth Theories, Growth and Income Distribution |
| MECE-403 (B) | Operations Research | Elective | 6 | Linear Programming, Transportation Problems, Assignment Problems, Game Theory in Business, Queuing Theory |
| MECE-403 (C) | International Trade & Finance – II | Elective | 6 | International Capital Flows, Foreign Exchange Market, Exchange Rate Regimes, International Economic Organizations, World Trade Organization (WTO) |
| MECE-403 (D) | Environmental Economics – II | Elective | 6 | Environmental Policy Instruments, Economics of Climate Change, Resource Economics, Green Accounting, Trade and Environment |
| MECE-404 (A) | Financial Institutions and Markets – II | Elective | 6 | Non-Banking Financial Companies (NBFCs), Stock Exchanges Functioning, SEBI Regulations, Insurance Sector, Mutual Funds and Investment |
| MECE-404 (B) | Econometrics – II | Elective | 6 | Panel Data Models, Simultaneous Equation Models, Time Series Econometrics, Qualitative Response Models, Forecasting Techniques |
| MECE-404 (C) | Demography – II | Elective | 6 | Age Structure and Dependency, Urbanization Trends, Family Planning Programs, Health Economics, Demographic Dividend |
| MECE-404 (D) | Labour Economics – II | Elective | 6 | Labour Market Reforms, Social Security Schemes, Child Labour Issues, Migration and Labour Mobility, Employment Generation Policies |
