It is said that economist knows the price of everything, but the value of nothing. However whatever the cynics may say, economists are valued greatly in the market place.
In general undergraduate courses, Economics (hons) is one of the most sought after courses in premier universities in India. Known as a queen of social sciences, Economics graduates offer much more to their employers beyond their expertise in Economics. The subject helps students develop skills in numeracy, analysis, verbal and written communication, problem solving, lateral thinking, broad base knowledge and presentation skills. Students also pick up skills in computing and generally are conversant with statistical packages.
A Career in the Field of Economics
For making headway in career with economics, a good Bachelor degree in economics fortified with a Masters Degree is important. The colleges in the country which are known to provide very good grounding in economics in the country at the Bachelor level include St Stephen’s College(Delhi), Shri Ram College of Commerce ( Delhi), Lady Shri Rwn College for Women (Delhi), Hans Raj College (Delhi), Hindu College (Delhi), Presidency College ( Kolkata), St Xavier’s College (Kolkata), St Xavier’s College ( Mumbai), Loyola College ( Chennai), Christ College (Bangalore). At the Masters Level the sought after institutions are- Delhi School of Economics, Jawaharlal Nehru University , Indian Statistical Institute, University of Hyderabad, IGIDIR, Gokhale School of Political Economy, Madras School of Economics.
Job Prospects as an Economist
Opportunities for economists have increased over the years. A good graduate student is highly sought after. Economists work in various sectors. The main intake by the Government is through the Indian Economics Service. Officers from IES man India’s Finance, Banking, Commerce, Planning and Statistics departments. In the corporate sector, economics graduates are in demand in the banking, finance, market research and consulting firms. Economics graduates are also found in think tanks , advocacy NGOS and industry associations for policy research.
As an illustration, a sample of companies visiting premier economics institutions in India is given below.
- Jawaharlal Nehru University – McKinsey, GE, Grail Research, Absolute Data
- University of Hyderabad– Tata Motors, Reliance Retail, Roulac Investments, Citibank, PWC, GE , Templeton
- Delhi School of Economics– Nestle India, FICCI, CII, Reliance, HSBC
- IGIDIR– JP Morgan Chase, Citibank, IFMR, Deloitte, ICICI Bank, ICICI Treasury, CRISIL, Fedility Investments
- Indian Statistical Institute– American Express, Barclays Banks, Goldman Sachs, Motorola, Reliance Industries
- Gokhale School of Political Economy– Genpact, CCIL, Boston Analytics, Tata Motors, ThHIndu, BusinessLine
- Madras School of Economics– IFMR, Ropulac, HSBC, HP, Genpact