How To Become An Economist In India | Economist Career Path, Description

How To Become An Economist In India

If you’re looking about How To Become An Economist In India ? then this article can be deliberated a beneficial cache for all those who desire to have their career as An Economist. Here we have asserted all vital information regarding it career path, requirement, how one can become so, salary criteria, job path, etc.  

As an economist it is a profession that owns globalization of present world economy. As we all know that economy of our nation is a key to the survival of any system of government. That is the reason that why current economists are placed in the middle of political analysis and execution of the economic policies of the governments.

How To Become An Economist In India

Now-a-days it is considered as one of the most interesting profession among younger generation and it requires a lot of hard work and effort. It offers an enormous scope for the building of one’s successful career.

Job Description

Job as an economist includes studying the production, distribution and consumption of goods and services and many other activities with an aim to obtain benefit by allocating resources. And these resources includes like raw materials, land, capital, technology, labour and other scarce materials with multiple uses. As an Economists one has to achieve goals by doing lots of research and monitoring the demand and supply, exchange rates, business trends, taxation, employment rates, inflation, and costs of materials etc.

Tips To Choose Right Career

Economics is considered as a discipline of Social Science. An experienced in this stream is called as an Economist. They generally examine, create and apply theories as well as concepts from economics. In this field there are various job opportunities available for candidates who have finished their studies in this field.

Golden Rules/Mantra For Career

Here Are The Steps One Must Follow To Become An Economist:

Get a Bachelor’s Degree

  1. An undergraduate degree in economics needs the fulfillment of general education courses along with classes in business, management, and economics.
  2. Mainly economics topics include microeconomics, macroeconomics, econometrics, and economic thought. Depending on an institute, the major may be offered through the college of liberal arts, social science department, or in the school of business.

Latest Jobs for Graduates

Acquire a Master’s Degree

  1. Generally a master’s degree can be attained within two years, although many programs complete it in less time also. An undergraduate degree in economics is not mandatory as it is not always required for admission, still students who taken other area can attain to take is as an additional course.
  2. Graduates are prepared with Economics masters degrees for further study at the doctoral degree level. Few selective  programs allows students to choose field such as international economics or economic development.

Current Vacancies for Post Graduate Degree

Complete a PhD in Economics

A Doctor of Philosophy/ PhD is a research-based degree that cover-up main topics in microeconomics, econometrics, quantitative analysis, and macroeconomics. Economists who wish to teach at an institute generally pursue a doctoral degree. Students applying to a PhD program in economics doesn’t need a master’s degree in the field.

Latest PHD Jobs

Find a Job

  • After attaining degrees, start searching  for suitable job. The private sector firms and scientific and technical companies especially offers the best chances for employment. Research and educational institutions also offers various  job placements. And in case of master’s or doctoral degree holder opportunities will be ample. Economists who hold doctoral degrees are qualified to teach at a university.
  • Join a professional economics organization as it will be beneficial for you. Organizations include the Association for Social Economics and the National Association for Business Economists.

Get Job Searching Tips

Top 10 Economics Colleges In India

  1. Lady Shri Ram College of Women, delhi
  2. Ramjas College, delhi
  3. H.R College Of Commerce And Economics, Mumbai
  4. Ethiraj College, Chennai
  5. Shri Guru Gobind Singh College Of Commerce, Delhi
  6. Lala Lajpat Rai College Of Commerce And Economics, Mumbai
  7. Indian Institute Of Technology, Kharagpur
  8. Lovely Professional University, Jalandhar
  9. Loyola College, Chennai
  10. St Stephens College, Delhi
  11. Madras Christian College, Chennai.

Best Colleges in India

Qualifying Exam

Is the also the part of becoming economist. Mostly the exams in Economics are applicable at the postgraduate level (MS/M.Sc). In India many colleges carry out an entrance exam. Few among the popular exams are–

  • The Jawaharlal Nehru University Entrance exam
  • Anna University MA/M. Phil Entrance Exam
  • The Genteel School of Business & Economics All India Entrance Exam.

The University of Delhi and the Pune University are also carry out qualifying exams in Economics.

Top Universities in India


Candidates who wish to join Bachelor’s degree programme must have cleared 10+2 with a minimum scoring 50% with economics as one of the subject at this level.

Jobs By Qualification


Economist are expected to be paid good whether in public or private sectors. In many government services minimum pay is of Rs. 20,000 to Rs. 25,000 as assistants and on other hand experienced have an average salary of Rs. 30,000.

In institutes and universities teachers earn Rs. 35,000 to Rs. 40,000 depending upon seniority. In the case of private sector salaries are even higher. Economic consultants are earning good returns depending upon the large number of their clients.

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