IKON
Amartya Kumar Sen is a renowned economist and Nobel laureate, recognized for his outstanding contributions to welfare economics, social choice theory, economic and social justice, famine studies, and the development of indexes to measure the well-being of citizens in developing countries.
Sen was awarded the Nobel Prize in Economic Sciences in 1998 and the Bharat Ratna in 1999 for his pioneering work in welfare economics. In February 2015, he received the inaugural Charleston-EFG John Maynard Keynes Prize in recognition of his contributions to the field.
Currently, Sen holds the position of Thomas W. Lamont University Professor and Professor of Economics and Philosophy at Harvard University. He has also served as the Chancellor of Nalanda University. Additionally, he is a senior fellow at the Harvard Society of Fellows, a distinguished fellow at All Souls College, Oxford, an honorary fellow at Darwin College, Cambridge, and a Fellow of Trinity College, Cambridge, where he served as Master from 1998 to 2004.
What is the Job all about?
Why do food prices rise when gas prices increase? Why can’t you get a good interest rate on your savings account? These questions, and many others, can be explained through economics.
Economics is the study of the production and consumption of goods and the transfer of wealth to produce and obtain those goods. It examines how people interact within markets to achieve their goals. Since economics is a driving force behind human behavior and decision-making, studying it can reveal why people and governments act in certain ways.
Economics is broadly divided into two main areas: Macroeconomics and Microeconomics.
• Microeconomics focuses on the actions of individuals and industries, such as the dynamics between buyers and sellers, and borrowers and lenders.
• Macroeconomics takes a broader view, analyzing the economic activity of entire countries or the global marketplace.
Economists are highly skilled specialists and strategists who analyze, develop, and predict economic trends. Their theories and analyses often serve as the basis for policy-making and strategic action plans.
Can I go for it?
If you have a strong analytical mind and can think critically, you’re on the right track to pursue a career in economics. Mathematical proficiency is essential, as much of the work involves data analysis, problem-solving, and quantitative reasoning. Staying informed on economic matters through extensive reading is crucial for understanding trends and developments both nationally and globally.
As an economist, you’ll be expected to prepare reports, tables, and charts based on research and survey results. You’ll also advise clients and employers on likely trends and recommend the best courses of action. Strong communication skills—both written and spoken—are vital for convincing others of your projections and conclusions.
Types of Economic Experts:
• Econometricians: Develop models and use mathematical analyses to test and understand economic relationships.
• Financial Economists: Analyze savings, investments, and risk to assess financial systems.
• Industrial Organization Economists: Study how companies within an industry are structured and how they compete.
• International Economists: Focus on international trade and the effects of globalization.
• Labor Economists: Examine the supply and demand for labor, analyzing workforce dynamics.
• Macroeconomists and Monetary Economists: Study the economy as a whole, researching trends related to unemployment, inflation, and economic growth.
• Microeconomists: Analyze the supply and demand decisions of individuals and firms.
• Public Finance Economists: Explore the role of government in the economy, particularly the effects of tax policies, budget deficits, and welfare programs.
Is there a future in the field?
As you can see, economics offers a wide variety of specializations, so advancing in this field typically requires more than just a bachelor’s degree. To grow significantly in economics, you’ll likely need to pursue a master’s degree, and possibly an M.Phil or Ph.D. With advanced qualifications, there is tremendous potential, not only in government roles but also in senior positions within the corporate world, banks, and international organizations.
Alternatively, you could specialize in areas such as investment banking, actuarial science, consultancy, auditing, trading, education, or research. Even with just a bachelor’s degree in economics, you can find opportunities outside the traditional economics profession, such as financial analysis, market research, and similar roles in business, finance, and consulting.
Where do I start?
In Goa
1. Carmel College of Arts, Science & Commerce for Women
2. Dempo Charities Trust Dhempe College of Arts & Science
3. Dnyanprassarak Mandal’s College of Arts, Sou. Sheela Premanand Vaidya College of Science & V. N. S. Bandekar College of Commerce
4. Murgaon Education Society’s College of Arts & Commerce
5. Parvatibai Chowgule College of Arts & Science
6. Goa University – Masters & PhD in Economics
Outside Goa:
HR Institute of Commerce & Economics, Mumbai – https://www.hrcollege.edu/
St Xaviers College, Mumbai – https://xaviers.ac/
Delhi School Of Economics, Delhi – http://econdse.org/
St. Stephens College, New Delhi – https://www.ststephens.edu/
Loyola College, Chennai – https://www.loyolacollege.edu/
Doctorate studies:
Gokale Institute of Politics & Economics, Pune – https://gipe.ac.in/
Employment Avenues:
Economists can find career opportunities in government agencies, banks, industrial corporations, consultancy firms, and international organizations like the World Bank and the IMF.
Monetary Prospects
The earning prospects in this field are promising, particularly for those with advanced degrees such as a master’s or Ph.D.
Don’t settle for just a degree or diploma — enhance your CV by completing online learning programs with certification in areas relevant to your chosen career. This will significantly improve your employment prospects compared to holding only a basic qualification. Additionally, consider boosting your confidence by enrolling in public speaking courses, such as those offered by Toas
tmasters International.
For government job opportunities, please check: www.employment-newspaper.com
page updated: August 2024