Career Scope in Economics


The term 'economics' is the most significant terminology to capture the need for analytical and problem-solving skills in people for the growth and development of any business, country, or society. Economists play a key role in shaping the growth of various industries by determining how goods and services are produced, distributed, and consumed. The study of Economics honours course not only provides knowledge, but also skills such as analytical reasoning, qualitative and quantitative analysis, critical thinking, interpersonal skills, and information processing, all of which can open up great career prospects. 


This article will provide a complete guide on the career options available in economics.


The Ultimate Jobs & Career Scope in Economics in India


  1. Indian Economic Services


IES is an excellent option for an economics career. To be eligible to take the Indian Economic Service test, you must have earned an M.Sc. or M.A. from any of the top economics institutes in India with at least a 55% grade point average. The suggested age range is 21 to 30. UPSC gives the IES test. 


Following selection, one must work in the nation's planning commissions to conduct responsibilities, including economic planning and analysis. The Planning Board may also employ them, the Ministry of Economic Affairs, the National Sample Survey, and other agencies that require economics experts. 


  1. Banking Services Within the Public Sector


The most typical and well-liked job path in economics is this one. The Reserve Bank of India uses its unique hiring exams to find economists for the banking industry. Your age range should be between 21 and 28 years old. 


Additionally, positions are available in research organizations such as the National Council of Applied Economic Research in New Delhi, the Indian Council of Social Science Research, the Institute of Economic Growth in New Delhi, etc. To be hired by a bank, one might take the IBPS and State Bank recruitment exams. 


  1. Private and Foreign Banks


A person with a degree in economics can apply to private and international banks. Branch managers, clerks, economic advisors, development officers, etc., are just a few of the banking job descriptions available. 


  1. International Organizations 


In a well-known international agency like the World Bank or the International Labor Organization, experienced and well-known economists may find work chances. 


  1. Consulting 


Graduates in economics can operate on their own as economic consultants. Further scientific research and consultancy companies can present good work prospects in the private sector. 


  1. Entrepreneurship 


Economists will be well-versed in the market. They will pick up on market trends and profitable business fields rapidly. Thus, people can quickly experience exponential growth by starting their own companies. With this approach, a lot of lucrative work opportunities might be produced. Additionally, it will help to address the nation's unemployment problem. 


Top Job Roles for Economics Graduates


B.A. Economics Scope:


  • Professional Economist

  • Financial Risk Analyst

  • Data Analyst (Banking Sector)

  • Financial Planner (Banking Sector)

  • Financial Controller/Financial Economist

  • Equity Analyst

  • Cost Accountant

  • Economic Researcher

  • Business Economist

  • Agricultural Economist

  • International Economist (Specialization)

  • Industrial Economist (Specialization)

  • Labor Economist (Specialization)

  • Investment Analyst

  • Actuary



Career Prospects


  • Comparing all vocations, the employment of an economist is anticipated to expand by 25% between 2019 and 2029. Organizations rely heavily on economists for their economic analysis and forecasting of sales trends, business, and other economic factors.


  • With the complexity of the global economy increasing, the demand for economists in the private sector will also increase, especially in management, scientific, and other professional consulting fields. It is hard to deny that being an economist is one of the most rewarding careers.


  • When it comes to the economy, it is always erratic. However, because the economy is changing quickly, economists can always rethink industrial policies and use their knowledge to solve problems.

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