There is perhaps no subject other than Economics that deals with the study of how people, businesses, and governments make decisions and allocate resources, not just money. Its wide scope helps us understand the correlated issues that affect our lives, such as poverty, inequality, growth, development, trade, inflation, unemployment, etc. India has a veritable history of contributing to this study of economies, with Nobel Prize-winning economist Amartya Sen being the most recognisable figure of our times.
If you think a career in Economics might be a fascinating experience, you might be wondering what kind of degree you need. In this blog, we will answer these questions and explore the career prospects of an Economics degree that you can find at all Economics Honors colleges in India.
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What is Economics Honors?
An Economics honours is a three-year undergraduate program otherwise known as the BA Economics (Honours) course. It offers a comprehensive education in the core concepts, theories, and methods of Economics and allows students to choose from a wide range of elective courses that cover various branches and applications of Economics at Economics Honours colleges in India. such as, and more.
An Economics honours degree requires a higher level of academic performance and involves more advanced coursework and research than a regular BA Economics degree that can be found at many BA in Economics colleges in Mumbai. Students who enrol in a BA Economics honours course also usually have to complete a thesis or a project in their final year.
For more information about this special BA Economics course that is only offered by Economics Honours Colleges in India, check out the table below.
| Course Name | Bachelor of Arts in Economics (Honours) |
| Level | Undergraduate |
| Duration | 3 years |
| Mode of Examination | Semester or Yearly |
| Eligibility Criteria | 50% or more in 10+2 from a recognised board |
| Admission Process | Merit or Entrance Exam |
| Common Subjects | Microeconomics, Macroeconomics, Econometrics, International Economics, Public Economics, Behavioural Economics, Environmental Economics, etc. |
| Average Course Fee | INR 50,000 – INR 3 LPA |
| Average Salary | INR 2 – 18 LPA |
| Areas of Recruitment | Think Tanks, Banks, Stock Exchanges, Consultancy, Manufacturing Firms, Government Agencies, etc. |
What are the Benefits of Studying Economics Honours?
Studying Economics honours can provide you with many benefits, such as:
- Studying at Economics honours colleges in India develops analytical, quantitative, and critical thinking – skills that are essential for any career path.
- Gaining exposure to diverse perspectives and approaches to economic issues from different disciplines and schools of thought.
- Acquiring valuable skills and tools for conducting research and communicating your findings effectively.
- Expanding your career options and opportunities in various sectors and industries.
- An option to pursue higher qualifications in Economics or management colleges in Mumbai or elsewhere.
Career Prospects of an Economics Honors Degree
An Economics honours degree can open up many doors for you in terms of career prospects in both the public and private sectors. Some of the common job roles that graduates from Economics honours colleges in India often go for include the following:
| Job Role | Responsibilities | Average Salary |
| Economist | Someone who analyses data and trends to provide insights and advice on economic issues and policies, economists can work for government agencies, international organizations, think tanks, research institutes, consulting firms, banks, or corporations. | INR 7.4 LPA |
| Policy Analyst | Evaluate the effectiveness and impact of existing or proposed policies on various social, economic, or environmental issues, usually for government agencies, non-governmental organizations (NGOs), advocacy groups, or think tanks. | INR 5.1 LPA |
| Financial Analyst | Someone who assesses the performance and potential of financial markets, instruments, or entities, financial analysts can work for banks, investment firms, insurance companies, or corporations. | INR 4.9 LPA |
| Data Analyst | Collects, processes, and interprets large amounts of data to generate insights and solutions for any organisation that relies on data-driven decision-making. | INR 5 LPA |
| Teacher | Imparting education to students at schools, colleges, universities, or online platforms. | INR 4 LPA |
These are just some examples of the possible careers that you can pursue with an Economics honours degree. Of course, some other fields or sectors can be explored armed with the unique perspective that completing this course from Economics Honours Colleges in India provides, depending on your interest or goals.
Top Economics Colleges in India
The bird’s eye view of economies and as a byproduct, markets, societies, industry, and so much more that a good grasp of Economics provides make the BA Economics honours course one to consider. But is there a university in Maharashtra that provides this course on par with the best BA Economics honours colleges in India? Check out the table below to find out.
| Name of the College | Location |
| Universal AI University | Mumbai |
| Hindu College | New Delhi |
| Presidency University | Kolkata |
| LSRC | New Delhi |
| Shri Ram College of Commerce | New Delhi |
| Miranda House College | Chennai |
Conclusion
Economics, as a subject, is very important to mankind as it can be used to analyse trends in financial markets to provide measures to avoid economic meltdowns, like the Great Depression. Maybe the fact that we didn’t see a complete financial collapse in most parts of the world during the coronavirus lockdowns shows that we have progressed enough in this subject. However, a lot more is always waiting to be discovered in this field as new theories are put through at Economics honours colleges in India.
So what are you waiting for? Check out the BA Economics course at Universal AI University if you want to have a career in this interesting field.
FAQs
1. What is the difference between a BA economics and a BA Economics Honours course?
The only difference between a BA economics and a BA economics honours course is the latter involves a more in-depth study of a few concepts, and may also require the student to submit a project or thesis to graduate.
2. What is the scope of economics honours?
The scope of an economics honours course is endless as it can allow you to find posts in prestigious government institutions like the Reserve Bank of India, Central Planning Commission, Ministry of Economic Affairs, etc, or even explore higher studies in Economics or related fields.
3. What is the salary of an Economics honours?
The average salary of an Economics honours graduate is around INR 6.9 Lakhs per annum.
4. Is there a lot of Maths in economics honours?
Yes, an Economics Honors course will involve a fair bit of maths, as most topics in this subject cannot be explained without it.
