DU course profile: From law to journalism, Economics (honours) opens a variety of career choices for students | delhi news | Hindustan Times
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DU course profile: From law to journalism, Economics (honours) opens a variety of career choices for students

A typical undergraduate and postgraduate economics course is loaded with subjects which demand high-level mathematical and statistical competencies. A student of economics must note that there is no single way of learning the subject. There are several schools of thought.

delhi Updated: May 26, 2017 18:16 IST
AJC Bose
AJC Bose, in-charge, department of Economics at Shri Ram College of Commerce.
AJC Bose, in-charge, department of Economics at Shri Ram College of Commerce.

Economics (Honours) facilitates entry into a wide variety of careers. A Masters degree or an MBA after the undergraduate course enables one to get a highly paid job in the private sector, especially with MNCs and KPOs. There are consultancy firms which absorb economics graduates as executive consultants, economists or economic advisors.

Students of economics are often found interested in pursuing Indian Administrative Service and other civil services.

There are research and teaching jobs also for those with a PhD in economics. One can also combine the undergraduate degree with LLB to seek lucrative careers in Corporate Law. Economic journalism is another fascinating option for those who have a flair for writing. Then, there are think tanks like the Niti Ayog, Department of Industrial Policy and Promotion and Center for Policy Research which absorb economics graduates for analysis working on policy recommendations.

A typical undergraduate and postgraduate economics course is loaded with subjects which demand high-level mathematical and statistical competencies. A student of economics must note that there is no single way of learning the subject. There are several schools of thought.

There are companies such as Deloitte, Bain & Co. or McKinsey which offer smart job profiles like financial or investment analysis. Value investing is a hot pursuit these days. In this connection there is a book titled: Warren Buffett Invests Like a Girl: And Why You Should, Too. Those students who like statistics, figures and analysis with number crunching can apply to firms for the position of a statistician. Banking and financial services including financial planning is another amazing field of attraction for economists. Acturial science and insurance sector as also CA and CFA studies also attract economics graduates. Lastly, if one has a desire to pursue economics purely as an intellectual exercise to understand the world, then one can become a professor at B-schools and universities where one can combine teaching and research, generate publications, and go a long way in the profession to win small and big prizes/awards.

In light of the above, I suggest that prospective economics students must read up two to three times the following lucid books: 1. Amal Sanyal, Economics and Its Stories, Social Science Press/Orient BlackSwan, 2012; 2. Ha-Joon Chang, Economics: The User’s Guide, Pelican, 2014; and Jim Stanford, Economics for Everyone, Fernwood Publishing, 2008. Such a reading will help them obtain the deep and wide motivation to pursue economics which otherwise might appear as a hard and boring as also esoteric or unrealistic subject, and as such might induce one to suffer from brain-fade and take a pillow and go to sleep, so to say! One thing is clear from the ways the subject is addressed now in different parts of the world: in the short run, there is a cacophony of noises and in the long run, we are all dead.