Economics is continuously growing in popularity because of its far-reaching relevance in various areas, including statistics, GDP, banking, finance, development, etc. As a result, Economics Honours has emerged as the most sought-after degree among students and is known for requiring dedication throughout the course of three years.
B.A. (Honours) Economics is a degree that equips students with concepts related to markets, finance, banking, principles of business, money, and our economy’s working. Under these areas lie topics of demand, supply, production, history of India, national income, economy, inflow and outflow of capital, international economics, operations of loans, rise and fall of prices in the market, inflation and deflation of currency, GDP and statics.
Additionally, the extensive awareness of the subjects involved in B.A. Economics programme makes you well prepared to understand and analyse the trends of demonetisation, the impact of Make in India, the annual budget, the introduction of goods and services and tax, etc. Moreover, Economics includes large numbers and data, so the importance of statistics is deeply embedded in the course, resulting in you being proficient and highly desired professional in the corporate market.
What Is B.A. (Honours) Economics All About?
B.A. (Honours) Economics is a blend of Macroeconomics, Microeconomics and Statistics. So let’s look at these three core subjects of the course!
Macro Economics: Macro Economics is a subject that deals with studying the national and global economy as a whole and surrounds broad concepts of government budget and balance of payments, income and employment.
Micro Economics: Another important subject of the B.A. Economics programme is Micro Economics, which deals with the study of economics concepts at the individual level, including the study of price determination, demand and supply, types of markets, etc.
Statistics: Statistics is an essential element of the study of Economics as it enables students to be proficient in interpreting and implementing economic data.
Moreover, the course brings about ideation, interest and curiosity in the young minds of students, further leading them to build successful careers in banking, finance, auditing, statistics, actuary, marketing, etc.
How Much Math Is Involved in B.A. (Hons.) Economics?
This is a common question among a lot of students. If you are somebody who is not very proficient in Mathematics, you may wonder if choosing economics is the right decision for you or not and exactly how much Mathematical aptitude you would require during the course.
The answer to all your questions is that you should possess a decent grasp of Mathematics as it is vital to economics and Statistics. Moreover, Maths help you in understanding the topics included in the B.A. Economics programme and it may be quite difficult for you to cope with the topics if you are not handy with mathematics. Saying that most institutes take in students who have studied mathematics till the 12th standard.
Career Options After B.A. Economics?
A career after B.A. Economics is extremely lucrative in today’s business framework. The interdisciplinary nature of the B.A. Economics degree opens up numerous doors for an Economics graduate in wide areas ranging from public policy and development to data science and marketing.
If you are among those students aspiring to a career as an Economics Honours graduate but aren’t sure about the career options after B.A. Economics brings to you, here are some of the best choices for you:
Policymaking
Since the core skill of the Economics graduates is to understand the economy as a whole, numerous students choose to study Economics at the undergraduate and postgraduate levels to become successful researchers and policymakers. Policymaking is a career option that may lead you to be a country’s finance minister, a central banker, or in various other technical policymaking roles.
Development Sector Organisations or Think Tanks
This sector is closely connected with policymaking. Both development sector organisations and think tanks conduct research on mandatory and other policy options in fields like poverty, rural/urban development, healthcare, education, agriculture, international trade and economic policy to present civil society and governments with reliable policy alternatives. Additionally, it is a research-driven area that requires expertise in statistical and econometric tools, which Economics graduates tend to have.
Economist in a Corporate Sector Firm
Corporate sector firms around the world hire economists to conduct research on the macro business environment they operate in. As a result, economists play a vital role in private firms as they help them navigate their business cycles and policy changes better. In addition, the responsibilities of an Economist include conducting thorough research using statistical and econometric tools and making recommendations based on their findings. This career option can lead you to work for a bank, a large e-commerce organisation, or even a technology major like Google.
Allied Areas
Besides going towards the core economics area, a lot of economics graduates choose to work in allied areas such as management and finance. Additionally, professionals with a strong analytical base are excelling in these areas.
Finance
B.A. Economics course curriculum incorporates the basic skills required for students to specialise in finance. Hence, the programme graduates may choose a career in the financial services industry, including investment banking, private banking, corporate banking, and investment/wealth/asset management. Alternatively, one may also specialise in corporate finance, which may guide them to become a Chief Financial Officer.
Actuarial Science
Actuarial science is a rapidly emerging career option after B.A. Economics. Actuaries are experts in analysing risk and uncertainty and also in pricing and provisioning for them. Actuaries are professionals who possess strong domain knowledge of mathematics, finance and statistics. In addition, experts in Actuarial Science can be prominently employed in the insurance industry, investment firms, pension funds and actuarial consulting firms.
B.A. (Hons.) Economics is an essential degree for professionals who wish to acquire detailed insight into Economics. A bachelor’s degree in economics is amongst the most demanding graduate-level courses in the country. And the reason behind this enormous demand for the course is its importance in the business world. Furthermore, several biggest global giants in the market prefer to recruit highly qualified and skilled graduates in economics. Hence, pursuing B.A. Economics (Honours) degree from a Top University in India can help you be the most sought professional in the job market. The B.A. Economics (Honours) degree offered by the Jindal School of Government and Public Policy (JSGP) at the O.P. Jindal Global University aims to equip students with the practical and theoretical knowledge that enables students to make an accurate analysis of the economic situation possible.
Why Study B.A. (Hons.) Economics at O.P. Jindal Global University?
- World-class teaching and research faculty from top universities around the globe.
- Wide variety of electives.
- Summer schools, winter schools, and semester exchange programmes at institutions across the world.
