Scope for Economics, Best Career Options and Job Scope for Economics Graduates in India

After completing 12th, many students get confused about which course will be right for them to choose, and they wander here and there for the right career guidance. MBBS, BDS, and B.Tech are familiar courses for the students who opt for science in the 12th. There are many other courses you can choose from Scope for Economics if you have opted for science in 12th. Science students can choose BSc Economics and if you’re from the Arts/ Commerce stream, you can choose BA Economics.  

BSc Economics course use mathematics and statistical theory applied to economic theory and is designed for students who want to use mathematics training to make strong their understanding of the world today. Sidewise, students pursuing BA economics course will be using limited mathematical methods, but will be more inclined towards using qualitative methods. 

Now, you must be wondering, why choose Economics for graduation degrees?  

An economics course will teach you higher knowledge of mathematical and statistical skills, as well as tell you how to apply economic principles and models to business, finance, and public sector issues. More broadly, economic concepts can be applied to understand the logic of complex data, to understand the relationship between things, and to see the larger context.  

Wishing to pursue BSc Economics? In India, there are many colleges/ Universities running BSc/ BA Economics. You can browse over the Internet to find the top BSc Economics college in Uttrakhand or in the country you’re living and get the admission based on the college entrance test or score secured in 12th. 

Before getting admission in Economics, many students want to know what the Scope for Economics in India is.  

What Do We Mean By the Scope of Economics? 

When choosing an undergraduate course for yourself. The very first question every aspirant asks is the future scope of the course. BA/ BSc Economics degree means a bright future, with plenty of opportunities in terms of job profiles and higher education.  

For those eager to pursue a bachelor’s degree in economics as their undergraduate course. They will be able to pursue careers ranging from research assistants to bank tellers or economists. With multiple career options and the right skills, knowledge, and experience. The salary that can be obtained after graduation from economics is very good. 

At present, there is an increase in Scope for Economics opportunities for professionals such as economic analysts, economic researchers, and economic consultants. These professionals can respond to increasing social complexity very effectively. Qualified and well-trained economists are high in-demand across various sectors and industries, both on national as well as international levels. Talking about the job scope for the economists, the major sectors include banking and insurance field. Post the globalization and privatization phase, the demand for skilled economists has increased manifold. 

Scope for Economics

Best Career options For Economics Graduates

  • Academia 

Economics graduates also have the option to pursue higher education to expand their area of job. After completing your graduation in Economics, you can go for higher education like MA/ MSc Economics, MBA, PGDM, LLB, or other courses. You can further pursue P.hd or can apply for NET (National Eligibility Test) for the teaching profession or Junior Research Fellowship in a Research Institution.  

  • Banks – Private & Foreign 

Economics graduates can seek job opportunities across private and foreign bank entities. You can apply for branch managers, clerks, economic consultants, development officers, and other posts.  Candidates holding post-graduate degrees and qualifications in economics may seek higher-level job opportunities in banks. Insurance companies (government and private), and other industries as well. For the insurance sector, they can look for job profiles including insurance consultants. Policymakers, insurance agents, development officers, and many more.  

  • Government Banking Sectors 

You can also apply for government bank jobs. Reserve Bank of India (RBI) hires economists through various recruitment examinations held from time to time. People having 21-28 age groups are eligible to take the RBI exam. You can also apply in National Council of Applied Economic Research, New Delhi research institutions for research fellowship. Other research institutions are Indian Council of Social Science Research, and Institute of Economic Growth, New Delhi etc. 

Economics graduates can independently serve as an economic adviser or consultant. In the case of private sector, there are many firms that offer various good job opportunities for scientific research and consulting. Economics graduates can give IBPS and State Bank recruitment exams to get a good banking job and make a successful career. 

International Agencies

Economists who have gained experience and skill and have made a place for themselves. The market can also look for employment opportunities in different international organizations inclusive of the International Labor Organization (ILO) and World Bank, and as such. After doing diploma course in taxation, you can also work as a tax consultant in different entities. 

Students who have acquired knowledge in the fields of capital markets, money markets, commodity markets, and mutual fund service sector are eligible to get job for investment advisors. Economics graduates can give knowledge of economics graduates to others that play a vital role in the investment decisions of different mutual fund plans. 

What are the Major & In-Demand Job Opportunities for Economics Graduates? 

There are a wide range of job opportunities for Economics graduates.  Here, we have listed the top job opportunities for economics graduates, you can apply for any one of them and get a high pay. 

  • Professional Economist 
  • Financial Risk Analyst 
  • Cost Accountant 
  • Data Analyst (Banking Sector) 
  • Financial Controller/Financial Economist 
  • Equity Analyst 
  • Financial Planner (Banking Sector) 
  • Business Economist 
  • International Economist (Specialization) 
  • Economic Researcher 
  • Agricultural Economist 
  • Labour Economist (Specialization) 
  • Industrial Economist (Specialization) 
  • Actuary 
  • Investment Analyst 

I Hope, you have understood the Scope for Economics choosing Economics for your bachelor’s degree opens up many opportunities for good jobs and high pay. Want to pursue Economics? Find BSc/ BA Economics college in Uttarakhand or in your location, and make your career bright.