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M-A-ECONOMICS in General at Thiagarajar College, Madurai
Madurai, Tamil Nadu
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About the Specialization
What is General at Thiagarajar College, Madurai Madurai?
This M.A. Economics program at Thiagarajar College, Madurai, focuses on advanced theoretical and empirical understanding of economic principles. It delves into microeconomics, macroeconomics, econometrics, and Indian economic issues, crucial for navigating India''''s dynamic economic landscape. The curriculum emphasizes analytical skills, preparing students for roles in research, policy analysis, and various industries. It aims to develop a comprehensive perspective on economic challenges and solutions.
Who Should Apply?
This program is ideal for fresh graduates with a background in Economics, Commerce, Management, or related quantitative fields, seeking to deepen their understanding of economic theories and their applications. It also suits working professionals aiming to enhance their analytical capabilities for career progression in economic research, financial services, or public policy. Individuals aspiring for roles in academic institutions or government economic services will find this program beneficial.
Why Choose This Course?
Graduates of this program can expect diverse India-specific career paths, including economic analysts, researchers, consultants, and policy advisors in government bodies, think tanks, and private sector firms. Entry-level salaries typically range from INR 3-6 LPA, growing significantly with experience. The program provides a strong foundation for pursuing M.Phil. or Ph.D. degrees, aligning with the demand for skilled economists in India''''s growing economy and academic sector.
Student Success Practices
Foundation Stage
Master Core Economic Theories- (Semester 1-2)
Focus on building a strong foundation in Microeconomics and Macroeconomics by thoroughly understanding fundamental theories, models, and their assumptions. Actively participate in class discussions, solve numerical problems regularly, and review concepts using textbooks and online resources.
Tools & Resources
NPTEL courses on Micro/Macroeconomics, Standard textbooks by Mankiw, Samuelson, Dornbusch, Economic and Political Weekly (EPW)
Career Connection
A solid theoretical base is essential for higher-level courses, competitive exams (UPSC, RBI), and analytical roles requiring deep economic insights.
Develop Quantitative Skills- (Semester 1-2)
Dedicate time to improving mathematical and statistical skills relevant to economics. Practice applying concepts from Mathematical Methods for Economics and Statistical Methods for Economics to real-world economic problems. Form study groups to tackle complex quantitative assignments.
Tools & Resources
Khan Academy, Coursera courses on ''''Math for Economists'''' or ''''Statistics for Data Science'''', R or Python programming for data handling, Statistical software like SPSS/STATA
Career Connection
Strong quantitative skills are highly valued in roles like data analyst, financial economist, and econometrician in India''''s burgeoning data-driven economy.
Engage with Indian Economic Issues- (Semester 1-2)
Complement classroom learning by regularly reading economic newspapers (e.g., The Economic Times, Business Standard) and magazines, focusing on Indian economic policies, challenges, and developments. Participate in college debates or seminars on current Indian economic affairs to foster critical thinking.
Tools & Resources
Livemint, RBI Bulletins, NITI Aayog reports, Government of India Economic Survey documents, National level economic webinars
Career Connection
This practice cultivates an informed perspective, crucial for roles in government, policy research, and journalism, preparing students for impactful careers in India.
Intermediate Stage
Apply Econometric Techniques- (Semester 3-4)
Gain hands-on experience with econometric software to analyze economic data. Work on small research projects applying regression analysis, time-series, or panel data models using actual economic datasets. Seek guidance from faculty on econometric assignments and project work.
Tools & Resources
EViews, Stata, R, Python (with libraries like statsmodels, pandas), Datasets from RBI, MOSPI, World Bank
Career Connection
Proficiency in econometrics is a critical skill for roles in economic forecasting, policy evaluation, and market research across India''''s financial sector and research organizations.
Engage in Collaborative Research and Seminars- (Semester 3-4)
Actively participate in departmental seminars, workshops, and inter-collegiate competitions. Collaborate with peers or faculty on short research papers or presentations to develop research and presentation skills, gaining early exposure to academic discourse.
Tools & Resources
College research labs, Departmental forums, Academic event calendars, Presentation software (PowerPoint, Google Slides)
Career Connection
Builds a professional network, enhances communication skills, and provides practical experience in presenting research, valuable for academic and industry roles.
Strategic Elective Selection- (Semester 3-4)
Deliberately choose elective courses (Research Methodology, Environmental Economics, Health Economics, Demography, Monetary Economics, Industrial Economics) based on specific career aspirations and industry demand. Research the chosen specialization area thoroughly beyond the syllabus.
Tools & Resources
Industry reports, Career guidance sessions, Alumni network, Professional association websites (e.g., Indian Economic Association)
Career Connection
Specializing strategically enhances employability, demonstrating focused expertise for niche roles in government, environmental agencies, healthcare, finance, or specific industrial sectors.
Advanced Stage
Excel in Project Work and Dissertation- (Semester 4)
Undertake the final semester project as a capstone experience. Apply all learned theories and quantitative methods to an independent research problem. Focus on rigorous methodology, data analysis, and clear articulation of findings, treating it as a professional consultancy report.
Tools & Resources
Statistical software, Academic databases (JSTOR, EconLit), Plagiarism checkers, Faculty mentorship, Institutional library resources
Career Connection
A well-executed project is a powerful portfolio piece for job interviews and applications for higher studies, showcasing advanced analytical and problem-solving abilities.
Build a Professional Network- (Semester 4)
Attend industry conferences, alumni meets, and guest lectures to connect with professionals and potential employers in the economics field. Utilize platforms like LinkedIn to build and maintain professional relationships, seeking mentorship and career advice.
Tools & Resources
LinkedIn, College alumni portal, Professional associations (e.g., Indian Economic Service Association), Career fairs
Career Connection
Networking is crucial for discovering hidden job opportunities, gaining industry insights, and securing referrals for placements in various Indian organizations.
Prepare for Placements and Higher Studies- (Semester 4)
Start early with interview preparation, resume building, and mock tests for competitive exams (UPSC, RBI Grade B, NET/JRF) or entrance exams for Ph.D. programs. Seek guidance from the placement cell and career counselors for tailored support.
Tools & Resources
Placement cell resources, Online interview practice platforms, Competitive exam coaching materials, University application portals
Career Connection
Proactive preparation ensures readiness for immediate career entry into government, private sector, or seamless transition to advanced academic pursuits, maximizing post-graduation opportunities.
Program Structure and Curriculum
Eligibility:
- A pass in B.A. Economics/B.Com/BBA/B.Sc. Mathematics/B.Sc. Statistics/BCA or any other equivalent degree from a recognized University.
Duration: 4 semesters / 2 years
Credits: 93 Credits
Assessment: Internal: 25%, External: 75%
Semester-wise Curriculum Table
Semester 1
| Subject Code | Subject Name | Subject Type | Credits | Key Topics |
|---|---|---|---|---|
| 17MEC11 | MICRO ECONOMICS – I | Core | 5 | Consumer Behaviour, Producer Behaviour, Theory of Production, Costs and Revenue, Market Structures, Pricing |
| 17MEC12 | MACRO ECONOMICS – I | Core | 5 | National Income, Classical Economics, Keynesian Economics, Consumption and Investment Functions, Money and Prices, Trade Cycles |
| 17MEC13 | MATHEMATICAL METHODS FOR ECONOMICS | Core | 5 | Basic Algebra, Calculus, Matrix Algebra, Optimization, Economic Applications of Mathematics |
| 17MEC14 | INDIAN ECONOMY – I | Core | 5 | Basic Characteristics, Economic Reforms, Agriculture, Industry, Economic Planning, Poverty and Inequality |
| 17MEFC1 | FOUNDATION COURSE (COMPULSORY) – I (Human Rights) | Foundation | 2 |
Semester 2
| Subject Code | Subject Name | Subject Type | Credits | Key Topics |
|---|---|---|---|---|
| 17MEC21 | MICRO ECONOMICS – II | Core | 5 | General Equilibrium, Welfare Economics, Externalities, Public Goods, Asymmetric Information, Risk and Uncertainty |
| 17MEC22 | MACRO ECONOMICS – II | Core | 5 | Post-Keynesian Theories, New Classical Economics, Supply Side Economics, Monetary and Fiscal Policy, Open Economy Macroeconomics, IS-LM Model |
| 17MEC23 | STATISTICAL METHODS FOR ECONOMICS | Core | 5 | Data Collection, Measures of Central Tendency, Measures of Dispersion, Probability, Sampling, Hypothesis Testing |
| 17MEC24 | INDIAN ECONOMY – II | Core | 5 | Public Finance, Fiscal Policy, Monetary Policy, Foreign Trade, Balance of Payments, Regional Disparities |
| 17MEFC2 | FOUNDATION COURSE (COMPULSORY) – II (Women''''s Rights) | Foundation | 2 |
Semester 3
| Subject Code | Subject Name | Subject Type | Credits | Key Topics |
|---|---|---|---|---|
| 17MEC31 | ECONOMETRICS – I | Core | 5 | Classical Linear Regression Model, Estimation, Hypothesis Testing, Multiple Regression, Dummy Variables, Violations of Assumptions |
| 17MEC32 | INTERNATIONAL ECONOMICS | Core | 5 | Theories of International Trade, Terms of Trade, Trade Barriers, Balance of Payments, Foreign Exchange Market, International Economic Institutions |
| 17MEC33 | FISCAL ECONOMICS | Core | 5 | Public Revenue, Public Expenditure, Public Debt, Fiscal Policy, Budgeting, Taxation |
| 17MEC3E1 | OPTIONAL COURSE – RESEARCH METHODOLOGY | Elective | 5 | Research Design, Data Collection, Sampling, Data Analysis, Report Writing, Ethical Considerations |
| 17MEC3E2 | OPTIONAL COURSE – ENVIRONMENTAL ECONOMICS | Elective | 5 | Environmental Problems, Valuation of Environmental Goods, Pollution Control, Sustainable Development, Climate Change, Environmental Policy |
| 17MEC3E3 | OPTIONAL COURSE – HEALTH ECONOMICS | Elective | 5 | Health Indicators, Demand and Supply of Health, Health Insurance, Health Care Financing, Health Policy, Pharmaceutical Industry |
| 17MEFC3 | FOUNDATION COURSE (COMPULSORY) – III (Rural Development) | Foundation | 2 |
Semester 4
| Subject Code | Subject Name | Subject Type | Credits | Key Topics |
|---|---|---|---|---|
| 17MEC41 | ECONOMETRICS – II | Core | 5 | Advanced Regression Topics, Time Series Analysis, Panel Data Models, Simultaneous Equation Models, Limited Dependent Variable Models, Forecasting |
| 17MEC42 | GROWTH AND DEVELOPMENT ECONOMICS | Core | 5 | Theories of Economic Growth, Development Indicators, Poverty, Inequality, Human Capital, Globalisation and Development |
| 17MEC43 | AGRICULTURAL ECONOMICS | Core | 5 | Agricultural Production, Land Economics, Agricultural Markets, Rural Credit, Agricultural Policy, Food Security |
| 17MEC4E1 | OPTIONAL COURSE – DEMOGRAPHY | Elective | 5 | Population Theories, Fertility, Mortality, Migration, Population Growth, Demographic Transition |
| 17MEC4E2 | OPTIONAL COURSE – MONETARY ECONOMICS | Elective | 5 | Demand for Money, Supply of Money, Monetary Policy, Central Banking, Inflation, Exchange Rates |
| 17MEC4E3 | OPTIONAL COURSE – INDUSTRIAL ECONOMICS | Elective | 5 | Industrial Organisation, Market Structure, Firm Behaviour, Industrial Growth, Industrial Policy, Innovation |
| 17MEPR1 | PROJECT | Project | 5 | Research Design, Data Analysis, Report Writing, Presentation |
| 17MEFC4 | FOUNDATION COURSE (COMPULSORY) – IV (Consumerism) | Foundation | 2 |
