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M-A in Economics at The Graduate School College for Women, Jamshedpur
East Singhbhum, Jharkhand
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About the Specialization
What is Economics at The Graduate School College for Women, Jamshedpur East Singhbhum?
This MA Economics program at The Graduate School College for Women, Jamshedpur, provides a robust understanding of economic theories and their applications. It delves into both micro and macro foundations, quantitative methods, and Indian economic policy, preparing students for analytical roles. The program emphasizes an analytical and empirical approach, crucial for addressing India''''s complex economic landscape and fostering growth in various sectors.
Who Should Apply?
This program is ideal for economics graduates seeking to deepen their theoretical knowledge and apply it to real-world problems. It caters to fresh graduates aiming for roles in economic analysis, research, and public policy, as well as those aspiring for academic careers. Working professionals looking to enhance their analytical capabilities for career progression will also benefit. Individuals with a strong quantitative aptitude and an interest in socio-economic development will find this program rewarding.
Why Choose This Course?
Graduates of this program can expect diverse career paths in India, including roles as economists in government organizations such as NITI Aayog or the Reserve Bank of India, research analysts in think tanks, data analysts in consultancies, and faculty in educational institutions. Entry-level salaries typically range from INR 3-6 lakhs annually, with significant growth potential up to INR 10-15 lakhs or more for experienced professionals in policy or corporate economic roles in India. The curriculum also aligns with prerequisites for professional certifications in financial analysis.
Student Success Practices
Foundation Stage
Master Foundational Economic Theories- (Semester 1-2)
Thoroughly understand core Microeconomics, Macroeconomics, and the history of economic thought. Engage actively in lectures, solve numerical problems, and participate in peer discussions to build a strong conceptual base, crucial for all advanced studies.
Tools & Resources
Standard textbooks (e.g., Hal Varian for Micro, N. Gregory Mankiw for Macro), NPTEL modules, MIT OpenCourseWare for Economics, study groups
Career Connection
A solid theoretical foundation is indispensable for all advanced economics roles, competitive examinations (UPSC, RBI), and academic pursuits. It forms the bedrock of economic analysis.
Develop Robust Quantitative & Statistical Acumen- (Semester 1-2)
Prioritize understanding and applying quantitative methods and basic econometrics. Practice extensively with statistical software like Excel, SPSS, or an introduction to R/Python for data manipulation and analysis, beyond textbook exercises.
Tools & Resources
Online tutorials for statistical software, data sets from official Indian government sources (e.g., MoSPI, RBI), NCERT statistics textbooks for refreshers, Coursera courses on data analysis
Career Connection
This skill set is highly sought after in roles like data analyst, research associate, and financial analyst in both public and private sectors in India, forming a critical part of modern economic work.
Engage with Current Indian Economic Policy- (Semester 1-2)
Regularly read economic newspapers, policy briefs, and government reports related to the Indian economy. Participate in debates and critical analyses of recent policy changes and their impact to contextualize theoretical learning.
Tools & Resources
The Economic Times, Business Standard, LiveMint, Economic Survey of India, RBI Bulletin, PRS Legislative Research
Career Connection
Builds critical thinking for policy analysis roles, enhances general awareness for competitive exams, and provides insights for interviews in government and industry, specifically tailored for the Indian economic landscape.
Intermediate Stage
Deepen Specialization Through Electives- (Semester 3)
Carefully choose elective papers in Semester 3 based on career interests (e.g., Development, International, Environmental, Financial Economics). Go beyond classroom learning by exploring advanced topics and current research in chosen areas.
Tools & Resources
Academic journals (e.g., Indian Economic Review, Journal of Development Economics), specialized books, webinars by experts, industry reports in chosen specialization
Career Connection
Specialization makes you a valuable asset for niche roles in research, policy formulation, or specific industry sectors, enhancing your employability in specialized domains.
Participate in Research and Projects- (Semester 3)
Actively engage in term papers, small research projects, or the optional dissertation in Semester 3. Seek mentorship from faculty for research ideas and methodological guidance, fostering independent analytical capabilities.
Tools & Resources
University library resources, online academic databases (JSTOR, Google Scholar), data collection tools, research ethics guidelines
Career Connection
Essential for building a research portfolio, developing critical analytical skills, and preparing for higher studies or roles requiring independent analysis in think tanks or academia.
Network and Seek Industry Exposure- (Semester 3)
Attend economics seminars, workshops, and guest lectures (online or offline). If possible, pursue a short internship or project during semester breaks to gain practical exposure to economic analysis in real-world settings.
Tools & Resources
LinkedIn, professional economic associations (e.g., Indian Economic Association), career fairs, alumni network
Career Connection
Opens doors to internship and placement opportunities, provides insights into industry demands, and helps build professional connections crucial for career advancement in India.
Advanced Stage
Master Advanced Analytical and Econometric Tools- (Semester 4)
For Semester 4, focus on advanced econometric techniques and their application using specialized software. Practice interpreting complex model outputs and communicating findings effectively, crucial for high-level economic analysis.
Tools & Resources
Econometric software like Stata, EViews, or advanced R/Python packages (e.g., statsmodels, pandas), online courses on advanced econometrics, case studies from economic research
Career Connection
High-level analytical roles in banks, financial institutions, economic consulting, and research firms require proficiency in these advanced tools, making graduates highly competitive.
Refine Dissertation/Project Work- (Semester 4)
If undertaking a dissertation or major project in Semester 4, dedicate significant effort to rigorous research, data collection, analysis, and coherent writing. Focus on generating original insights relevant to the Indian context.
Tools & Resources
Statistical software, academic writing guides, plagiarism checkers, continuous feedback from thesis advisor, peer review
Career Connection
A well-executed dissertation showcases independent research capability, a key trait for research positions and Ph.D. admissions, demonstrating advanced scholarly and analytical skills.
Strategic Career Planning and Placement Preparation- (Semester 4)
Actively prepare for job interviews, group discussions, and aptitude tests tailored for economic roles. Tailor resumes and cover letters based on target roles. Utilize career services for mock interviews and guidance on job search strategies.
Tools & Resources
College career counseling cell, online job portals (Naukri.com, LinkedIn Jobs), interview preparation platforms, company research platforms
Career Connection
Directly facilitates successful placements in desired roles, including government agencies, private sector analytics, and academic positions, by refining soft skills and job-specific knowledge.
Program Structure and Curriculum
Eligibility:
- Graduation with 45% marks in Economics as Honours/Core subject or 50% in the subject in general course or in a related subject in the main examination.
Duration: 4 semesters (2 years)
Credits: 96 Credits
Assessment: Internal: 30%, External: 70%
Semester-wise Curriculum Table
Semester 1
| Subject Code | Subject Name | Subject Type | Credits | Key Topics |
|---|---|---|---|---|
| GE-101 | Micro Economics - I | Core | 4 | Basic Economic Problems, Demand Analysis, Supply Analysis, Theory of Production, Cost Analysis, Market Structures (Perfect Competition) |
| GE-102 | Macro Economics - I | Core | 4 | Classical Economics, Keynesian Economics, National Income, Consumption Function, Investment Function, Money and Prices |
| GE-103 | Quantitative Methods for Economists - I | Core | 4 | Basic Statistics, Measures of Central Tendency, Measures of Dispersion, Probability, Correlation, Regression |
| GE-104 | Indian Economic Policy - I | Core | 4 | Basic Features of Indian Economy, Planning in India, Agriculture Sector, Industrial Sector, Poverty and Inequality |
| GE-105 | Public Economics - I | Core | 4 | Role of Government, Public Goods, Externalities, Public Revenue, Public Expenditure, Public Debt |
| GE-106 | History of Economic Thought - I | Core | 4 | Mercantilism, Physiocracy, Classical School, Neo-classical School, Historical School |
Semester 2
| Subject Code | Subject Name | Subject Type | Credits | Key Topics |
|---|---|---|---|---|
| GE-201 | Micro Economics - II | Core | 4 | Imperfect Competition, Factor Pricing, Welfare Economics, General Equilibrium |
| GE-202 | Macro Economics - II | Core | 4 | Business Cycles, Inflation, Unemployment, Monetary Policy, Fiscal Policy, Open Economy Macroeconomics |
| GE-203 | Quantitative Methods for Economists - II | Core | 4 | Index Numbers, Time Series Analysis, Sampling Techniques, Hypothesis Testing, Introduction to Econometrics |
| GE-204 | Indian Economic Policy - II | Core | 4 | Economic Reforms in India, Foreign Trade, Balance of Payments, Financial Sector Reforms, Human Development |
| GE-205 | Public Economics - II | Core | 4 | Fiscal Federalism, Budgetary Policy, Tax Reforms, Deficit Financing, Local Finance |
| GE-206 | History of Economic Thought - II | Core | 4 | Keynesian Revolution, Post-Keynesian Developments, Monetarism, Rational Expectations, Development Economics Thought |
Semester 3
| Subject Code | Subject Name | Subject Type | Credits | Key Topics |
|---|---|---|---|---|
| GE-301 | Development Economics - I | Core | 4 | Concepts of Development, Theories of Economic Growth, Poverty & Inequality, Population & Development, Human Capital |
| GE-302 | International Economics - I | Core | 4 | Theories of International Trade, Terms of Trade, Commercial Policy, Tariffs, Non-Tariff Barriers, WTO |
| GE-303 | Environmental Economics - I | Elective | 4 | Environment & Economy Linkages, Environmental Problems, Valuing Environmental Goods, Market Failure & Environment |
| GE-304 | Labour Economics - I | Elective | 4 | Labour Market Theories, Demand for Labour, Supply of Labour, Wage Theories, Unemployment |
| GE-305 | Economics of Financial Markets - I | Elective | 4 | Financial System, Money Market, Capital Market, Financial Instruments, SEBI |
| GE-306 | Demography - I | Elective | 4 | Population Theories, Demographic Transition, Fertility, Mortality, Migration |
| GE-307 | Agricultural Economics - I | Elective | 4 | Role of Agriculture, Agricultural Productivity, Land Reforms, Agricultural Marketing, Farm Finance |
| GE-308 | Research Methodology - I | Elective | 4 | Research Design, Data Collection Methods, Sampling, Hypothesis Formulation, Report Writing |
| GE-309 | Computer Application in Economic Analysis - I | Elective | 4 | Introduction to Computers, MS Office for Economics, Data Analysis Software Basics, Internet for Research |
| GE-310 | Dissertation/Project Work | Elective | 4 | Project Formulation, Literature Review, Data Analysis, Report Preparation, Presentation |
| GE-311 | Industrial Economics - I | Elective | 4 | Industrial Structure, Firm Behavior, Market Concentration, Industrial Policies, Public Sector Undertakings |
| GE-312 | Health Economics - I | Elective | 4 | Health Indicators, Demand for Health, Supply of Health, Health Care Financing, Health Policy |
| GE-313 | Gender Economics - I | Elective | 4 | Gender Inequality, Female Labour Force Participation, Wage Gap, Gender and Development |
| GE-314 | Economics of Education - I | Elective | 4 | Human Capital Theory, Returns to Education, Education Financing, Education and Development |
| GE-315 | Managerial Economics - I | Elective | 4 | Demand Forecasting, Production Decisions, Cost Analysis, Pricing Strategies, Capital Budgeting |
| GE-316 | Econometrics - I | Elective | 4 | Simple Regression, Multiple Regression, Assumption Violations, Hypothesis Testing, Dummy Variables |
| GE-317 | Financial Economics - I | Elective | 4 | Risk and Return, Portfolio Theory, Asset Pricing Models (CAPM), Efficient Market Hypothesis |
| GE-318 | Quantitative Techniques for Economic Analysis - I | Elective | 4 | Linear Programming, Game Theory, Input-Output Analysis, Dynamic Programming |
Semester 4
| Subject Code | Subject Name | Subject Type | Credits | Key Topics |
|---|---|---|---|---|
| GE-401 | Development Economics - II | Core | 4 | Theories of Underdevelopment, Planning Models, Globalisation and Development, Sustainable Development, International Aid |
| GE-402 | International Economics - II | Core | 4 | Balance of Payments, Exchange Rate Theories, International Monetary System, Regional Economic Groupings, International Financial Institutions |
| GE-403 | Environmental Economics - II | Elective | 4 | Environmental Policy, Command & Control, Market-based Instruments, Climate Change Economics, Green Accounting |
| GE-404 | Labour Economics - II | Elective | 4 | Labour Market Imperfections, Trade Unions, Collective Bargaining, Labour Welfare, Social Security |
| GE-405 | Economics of Financial Markets - II | Elective | 4 | Banking Sector, Monetary Policy, Central Banking, Non-Banking Financial Companies, Financial Regulations |
| GE-406 | Demography - II | Elective | 4 | Population Policies, Family Planning, Age Structure, Urbanization, Population and Development Nexus |
| GE-407 | Agricultural Economics - II | Elective | 4 | Agricultural Prices, Food Security, Agricultural Subsidies, Crop Insurance, Rural Development Programs |
| GE-408 | Research Methodology - II | Elective | 4 | Advanced Data Analysis, Statistical Packages, Econometric Models, Interpretation of Results, Ethics in Research |
| GE-409 | Computer Application in Economic Analysis - II | Elective | 4 | Spreadsheet Modeling, Statistical Software, Econometric Software, Data Visualization, Internet for Economic Data |
| GE-410 | Dissertation/Project Work | Elective | 4 | Advanced Project Formulation, Extensive Literature Review, Empirical Analysis, Comprehensive Report, Viva-Voce |
| GE-411 | Industrial Economics - II | Elective | 4 | Industrial Growth, Location of Industry, Industrial Finance, Small Scale Industries, Liberalization & Indian Industry |
| GE-412 | Health Economics - II | Elective | 4 | Health Insurance, Health Sector Reforms, Cost-Benefit Analysis in Health, Role of WHO, Public Health Initiatives |
| GE-413 | Gender Economics - II | Elective | 4 | Gender and Poverty, Women''''s Empowerment, Policy for Gender Equity, Microfinance and Women |
| GE-414 | Economics of Education - II | Elective | 4 | Education Planning, Public vs Private Education, Returns to Different Levels of Education, Education Policy in India |
| GE-415 | Managerial Economics - II | Elective | 4 | Risk and Uncertainty, Decision Making, Game Theory in Business, Government and Business, Corporate Social Responsibility |
| GE-416 | Econometrics - II | Elective | 4 | Time Series Econometrics, Panel Data Econometrics, Simultaneous Equation Models, Forecasting |
| GE-417 | Financial Economics - II | Elective | 4 | Derivatives (Futures, Options), Fixed Income Securities, Foreign Exchange Market, Corporate Finance |
| GE-418 | Quantitative Techniques for Economic Analysis - II | Elective | 4 | Optimization Techniques, Decision Theory, Simulation, Project Management Techniques |
