Career in Economics After 12th

People used to think that a career in economics had limited scope. Economics is a subject that will always be important because it is useful in our everyday lives. It is a popular subject at the national and international levels. The US Bureau of Labor Statistics says that the number of jobs for economists will grow by about 6% between 2018 and 2028. However, economists are in great demand in the current world owing to the constructive role that modern economics can play in formulating and implementing technology-driven policies. If you wish to pursue a career in economics after graduating from high school, you should consider the following:

• You need to be good at math.

• You need to be able to think critically and analyze data.

• You must be able to communicate effectively, both in writing and verbally.

• You should be able to work independently and be self-motivated.

• If you have these skills, a career in economics may be a good fit.

Economics as a career option: yes or no?

• Economics is a social science that looks at how goods and services are made, sold, and used.

• Economics is one of the most popular career choices after 12th grade because it can lead to high-paying jobs.

• If you want to go into economics as a career, we can tell you that it is a great choice with job opportunities in India and around the world.

• Economics is the study of wealth, including how it is made, used, and moved.

• At both the regional and central levels, there are a lot of well-known colleges that teach this subject.

• If you desire to take a job in economics after 12th grade, you should take math as your fifth subject in 11th and 12th grades, because most colleges require it.

• If you study economics, you'll also have an advantage in fields like statistics that are related to business.

How to Become an Economist?

• An economist's job is to research and analyse data to support economic theory, make suggestions for monetary policy, or teach students about economic principles.

• Economists look at data and figure out what it means in order to predict market trends, make economic models, and give advice on how to solve financial problems.

• Many universities across the country offer economics programmes for first-year students.

• To get into these programmes, students must take entrance exams like the CUET, Christ University Entrance Test, and NPAT exam.

• Most economists work for the government, in schools, or in the private sector.

• If you want to become an economist, you need to do the following:

• To become an economist, you need to study economics and get a degree in it.

• After getting your bachelor's degree in economics, you can choose to get a master's degree through postgraduate programmes at many Indian universities.

• Many jobs want someone with a PhD in economics as their highest level of education.

Economics Courses After 12th

If you want to go into economics after 12th grade, you need to know what the best courses are. A degree in economics can be earned at both the undergraduate and graduate levels. At the undergraduate level, economics students will learn about things like macroeconomics, microeconomics, utility, elasticity of demand, monopoly, factor pricing, interest, demographic features, agriculture and land development, small scale industries, and cottage industries, among other things.

B.A./B.A. (Honours) Economics

• The course is best for students who want to work in economics in the future.

• The BA (Hons) Economics curriculum covers the economy's ideas, limits, scale, industries, suppliers, producers, and buyers of services and products.

• The BA Economics class goes over the basics of economics.

• And BA (Hons) Economics gives students a deep understanding of the same things.

B.A./B.A. (Honours) Business Economics

• Business economics is a branch of applied economics that uses economic theory and quantitative methods to study businesses and the factors that affect their organisational structures and relationships with labour, capital, and product markets.

• The course is meant to help students understand how to use economic principles to make good business decisions.

• Students can use their business knowledge and skills in the real world.

B.A./B.A. (Hons) Applied Economics:

• Applied economics uses the conclusions from economic theories and real-world studies to help make financial decisions and predict what might happen.

B.Sc./B.Sc. (Hons) Economics:

• This course gives a complete understanding of the principles and methods used in the field of economics.

• It's almost the same as BA (Hons) Economics, but B.Sc Hons is the only one that teaches some advanced statistical ideas.

PG Courses for a Career in Economics After the 12th Grade

Let's say you want to get a Master's in Economics. In that case, you will study things like microeconomic analysis, elementary statistics, the theory of pricing and distribution, macroeconomic analysis, quantitative methods, international finance, etc. Here are some of the most common master's degree courses you can take after getting your bachelor's degree in economics.

• Master of Arts in Economics

• Master of Arts in Business Economics

• Master of Arts in Econometrics

• Master of Arts in Applied Economics

• Master of Science (MSc) in Economics

• Master of Business Administration (MBA) in Business Economics

• Master of Philosophy (MPhil) in Economics

Master of Arts in Economics

• A Master of Arts in Economics is a professional degree that is given to students who finish an economics programme at the undergraduate or graduate level.

• Most schools offer a four-year programme to earn this degree, but some may offer a three-year programme.

• The goal of the MA in Economics is to give students the skills and knowledge they need to work in economics.

• After getting this degree, a lot of people get jobs as economists, financial analysts, or research analysts.

• A Master of Arts in Economics is a degree that is based on research and gives a complete understanding of economic theory and how it can be used.

• Students who get this degree will learn strong research and analysis skills that can be used in a variety of economic situations.

Master's in Business and Economics

• The Master of Arts in Business Economics programme is meant to prepare students for jobs in business, government, and international organisations.

• Microeconomics, macroeconomics, and econometrics are taught in depth through the programme.

• Students also learn about management, finances, and how to use quantitative methods.

• Students who have a bachelor's degree in business or economics are eligible for the programme.

Master of Art in Econometrics

• Students in the Master of Arts in Econometrics programme learn the skills and knowledge they need to use econometric methods to do economic research.

• The programme is made for students who want to employ people in economic research or study economics at the doctoral level.

• There are classes in microeconomics, macroeconomics, econometrics, and statistics as part of the programme.

• In econometrics, students also have to do a research project.

• Admission to the programme is competitive and is based on test scores, letters of recommendation, and grades.

Master of Arts in Applied Economics

• This degree is made for people who want to work in economics or a field related to it.

• The programme teaches students the skills and knowledge they need to look at economic data and policies and figure out what they mean.

• Students who get this degree are also ready for doctoral work in economics.

Masters of Science (MSc) in Economics

• The Master of Science (MSc) in Economics is a graduate programme that takes two years and teaches students how to do advanced economic research and analysis.

• Students who want to work in economic research or policy analysis will benefit from this programme.

• The MSc in Economics is a tough course that will stretch and challenge you intellectually.

• But it is also a very rewarding course that will give you the skills and knowledge you need to start a career in economics or keep studying.

MBA in Business Economics (Master of Business Administration)

• An MBA in Business Economics combines business and economics. This helps students understand economic concepts and how to use them to solve business problems.

• MBA in Business Economics is a full-time course that takes two years to finish. There are four semesters in the course.

• The MBA in Business Economics curriculum covers business economics, managerial economics, econometrics, quantitative methods, financial accounting, business statistics, microeconomics, macroeconomics, and business research methods.

Master of Philosophy (MPhil) degree in Economics

• The full-time Master of Philosophy (MPhil) in Economics takes two years.

• The course is made for people who want to work in education or research.

• The class is broken up into four terms, and each term lasts ten weeks.

• In the first term, students take four classes that cover microeconomics, macroeconomics, econometrics, and mathematics for economists.

• In the second term, students take three classes on economic history, economic development, and international economics.

• In the third term, students take two classes on public economics or industrial organisation.

• The MPhil in Economics is a tough course that requires a lot of hard work and dedication.

Career Choices in Economics After 12th

• Economists study things like inflation, unemployment, economic growth, and international trade.

• They do this by using their skills in critical thinking, problem solving, and data analysis.

• They use what they find to make suggestions about monetary policy or to predict how the economy will change in the future.

• Economists can also choose to teach. Many economics departments in colleges and universities look for teachers with a PhD in economics.

• Microeconomics, macroeconomics, and econometrics are the most common courses that economics professors teach.

• People who want to work in the private sector can work for banks, consulting firms, insurance companies, think tanks, or research organisations.

• Economists help businesses with their finances by using their skills in data analysis and economic modelling.

• Economists are also used by the local, state, and federal governments.

• They may work in the executive branch to make plans for the economy or in the legislative branch to look at how proposed laws will affect the economy.

• Economists may also work for international groups like the World Bank or the International Monetary Fund.

• If you study Economics, you can do a lot of different things with your career.

Here is a list of different choices to help you figure out what you can do.

• Government organisations like RBI as an Economist.

• Planning organisations like NITI Aayog, National Sample Survey, etc.

• PSU Banks, Foreign Banks, and Private Banks

• Financial Risk Analyst Opportunities

• Actuary

• Econometrics Related Fields

• Indian Economic Services (IES)

• Financial Information Firms

• Agricultural Companies

• Statistician

If you want to study Economics at one of the best colleges in India after you finish 12th grade, you need to pass the entrance exam for that college and that to with a solid CUET Preparation Strategy. Those who pass the entrance exams are the only ones who get a call from the institute for counselling. Here is CUET exam which is the most common entrance exams for economics classes that you can take.

CUET (Common Universities Entrance Test) (Common Universities Entrance Test)

Common Universities Entrance Test is an entrance exam for all of India that is given by NTA for admission to UG courses at all of the institutions that take part. According to the CUET Eligibility Criteria, you must have gotten at least 50% on your calss1 2 exam (for the general category). For the SC/ST category, you need 45% to be able to take the entrance exam. There will be four parts to the entrance test, which are as follows:

1. Section I A: 13 Languages

2. Section I B: 19 Languages

3. Section 2: Domain-specific test

4. Section 3: General test

The top universities in India, like Delhi, Banaras Hindu, Central University of Punjab, and Jawaharlal Nehru University, use CUET, which is a centralised test.

Skills You Need to Get a Job in Economics After High School

• If a student wants to work in economics after 12th grade, they need to have these skills:

• You should be good at math if you want to understand the most important statistics concepts in economics classes.

• Since economic systems are linked, you should be interested in learning about complex systems, which requires a deep understanding of ideas.

• Curiosity is one of the most important skills. If you are curious, you will do well in an Economics career.

• You should possess the ability to research every aspect of the economy.

• Teamwork and Interpersonal Skills.

• Logical and Critical Thinking Skills.

• You should be motivated enough and try to be perfect.

Summing Up - I hope that after reading this fantastic article, all of your questions about a career in economics after 12th grade have been answered.