A guide to MA Economics Degree and Why Should You Get it?

Author: BGU Category: General Date: 16 Mar 2021

MA Economics: An overview

The contemporary world is economy-driven. Every sector aims at attaining the highest level of economic development. While exploring various aspects of the economy, the one thing that we need to understand is that economy has much more to it than mere financial news, articles, and finance reports. An economy determines many aspects revolving around job creation, resource availability, citizens’ buying habits, stocks, bonds, capital flow, the contribution from various financial institutions, and other business organizations, etc. And the study of these factors lies under the subject matter of Economics. The subject has a high utility factor in the real-world. It is a popular choice among students with its applications across multiple domains like banking, insurance, financial services, trade & commerce, and business management.

Since finance and the economy play such a vital role in any country’s overall progress, the demand for professionals who master this subject is extremely high. And the scope is widened further with Globalization and the intersection of the world economy. One of the most effective ways of getting into this field is by seeking a Master’s degree in Economics or MA Economics. In this blog, we are going to explore this degree in detail and understand the benefits, scope, job opportunities, and skillset that aspirants will acquire after completing this degree. So, let’s delve right into it!

MA Economics: Course Highlights

A master’s degree in Economics is usually a two-year full-time course offered by leading institutions around the world. This course contains topics like economic theory, history of economics, econometrics, macroeconomics, microeconomics, mathematics for economists, economics research methods, corporate finance, development economics, economic policy, international economics and mathematical methods for economic analysis. It offers advanced knowledge in the field of Economics with an elaborate knowledge base.

After the completion of this degree, students can either seek higher education through a Ph.D. or can get jobs in renowned national and multinational organizations. Let’s now look at some of the skills that students can acquire after the completion of this degree!

Gained Skillsets

MA Economics is one of the most in-demand fields in the global economy. Besides the vast career scope, this degree also equips aspirants with advanced skills that are transferable to various other fields and enhance one’s professional portfolio to a great extent. Following are the skills that you will gain after completing the Master’s degree in Economics.

Clear understanding of the national and global economy along with various economic practices, principles, and theories.
Knowledge about various economic fields.
Skills to analyze global economic issues and finding effective solutions for them.
Mastering several economic tools, techniques, and models for the enhancement of the overall economy.
Strong analytical, numerical, and problem-solving skills
Management and entrepreneurship skills
Effective communication, leadership, and team management skills

Top Benefits

MA Economics graduates can explore a diverse profile of career opportunities in the global market. Globalization has led to the merging of the world economy and this has further elaborated the scope for these graduates. But besides these endless opportunities and an extended scope, this degree also has various other benefits. Let’s see what are these benefits!

The intersection of trade and commerce between various countries has opened doors to a global career for MA Economics graduates.
With this degree, you’ll gain proficiency in matters of everyday life. You can better manage and keep track of your monthly expenses and devise a well-planned budget each month.
You can contribute to the enhancement of our country’s overall progress.
Being interdisciplinary in nature, this degree allows graduates to explore various career avenues in diverse fields.
You will have an ever-trending job. The money will pre-dominate human civilization as it has done for centuries. When there’s money involved the demand for economics professionals will always be high.
This degree leads to the acquisition of a critical economic perspective and changes the way you look at the world-trade and its operations.
You will also gain the ability to pay attention to details that will be beneficial in several other domains.

Career Prospects and Scope

MA Economics graduates have a huge scope in India and overseas. In our country, these graduates find opportunities in both the Public and Private sectors. They can either work as Government economists, or private sector economists. Other than that, you can also find consultation and research opportunities in this field. Several economic ‘think-tanks’ have been developed to enhance the economic scenario in our country. Being an economics graduate, you can work for these think-tanks and contribute towards the development of our country. If you are interested to explore the academic sector you can do so with this degree. In short, with MA Economics, you can find jobs in many domains including BFSI, Actuary and Data Analysis, Research and Consultancy, Education, and Entrepreneurship.

These graduates can work as Economists, Accountants, Public Policy Analysts, Budget Analysts, Financial Managers, Market Researchers, Risk Analysts, Investment Analysts, Economic Researchers, Economics Teachers/Professors, Data Scientists, Health Insurance Analysts, Statisticians, amongst others.

Talking about the scope of this field, it’s extremely fertile for aspirants who are passionate about numbers and the functioning of the economy. It prepares students to solve real-world economic problems around the globe. Given the contemporary situation, while the world economy is disrupted by the COVID-19 pandemic, the demand for economists and economics graduates has increased like never before. Businesses in every sector require economists who will analyse the current market situation and offer advice for accurate decision making. They will help these organizations achieve their optimum economic potential. Hence, MA Economics can lead to one of the most rewarding and lucrative careers for aspirants.

Conclusion

A Master of Economics degree enables students to learn how to apply economic principles and theories to real-life situations. This degree hones your analytical skills and guides you to utilize your expertise to come up with innovative solutions to a range of problems along with knowledge on various econometric techniques and software. Given the broad scope of scenarios to which such a skill-set can apply, a Master of Economics degree is rapidly becoming a popular choice for those pursuing graduate studies, alongside courses such as Finance, Accounting, and Management. So, if you want to establish a winning career in finance and economics, seeking MA Economics is the best career option for you.

Build a recession-proof career with Birla Global University

The Master's program in the School of Economics at Birla Global University offers a balance between theories of microeconomic, macroeconomic, and econometrics alongside their scientific applications. It provides several opportunities to avail live experiential learning in the form of internships and also focuses on research undertaking on economic policy issues. Following are the salient features of this program:

Scope for developing core competencies on critical thinking skills, hypothesizing and solving problems, data acquisition skills, data analysis techniques, the application of economic theory to analyze economic data, writing and reporting skills, and competency in the use of computer software.
With an active placement cell, there will be scope for creating job opportunities in a wide variety of fields which include professional careers in business, banking, financial services, federal, state and local government, consulting, and non-profit organizations.
Each subject course offered in the Master's Program in Economics has a unique blend of historical economic thought and modern tools for analysis.
Apart from the coursework curriculum, there is an inclusive short-term project for blending conceptual cognition into the practical experience of the student.
The institute provides state-of-the-art infrastructure and global-standard educational and campus facilities.

Rule the global economic scenario with a Master's in Economics degree that offers endless opportunities for a lucrative career. We welcome you to explore them with Birla Global University! For more details visit our website: https://www.bgu.ac.in/

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