IKON
Amartya Kumar Sen is an economist par excellence and a Nobel laureate. Sen has made contributions to welfare economics, social choice theory, economic and social justice, economic theories of famines, and indexes of the measure of well-being of citizens of developing countries.
Sen won the Nobel Prize in Economic Sciences in 1998 and Bharat Ratna in 1999 for his work in welfare economics. He was also awarded the inaugural Charleston-EFG John Maynard Keynes Prize in recognition of his work on welfare economics in February 2015.
He is currently the Thomas W. Lamont University Professor and Professor of Economics and Philosophy at Harvard University. He served as the chancellor of Nalanda University. He is also a senior fellow at the Harvard Society of Fellows, a distinguished fellow of All Souls College, Oxford, an honorary fellow of 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 costs of food rise when gas prices rise ? Why can’t you get a good interest rate on your savings account? All of these phenomena 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. Economics explains how people interact within markets to get what they want or accomplish certain goals. Since economics is a driving force of human interaction, studying it often reveals why people and governments behave in particular ways.
There are two main types of economics: macroeconomics and microeconomics.
Microeconomics focuses on the actions of individuals and industries, like the dynamics between buyers and sellers, borrowers and lenders. Macroeconomics, on the other hand, takes a much broader view by analysing the economic activity of an entire country or the international marketplace.
Economists are well qualified specialists and strategists who analyse, devise and predict economic trends. Based upon their theories and derivations, policies are implemented as action plans.
Can I go for it?
If you have a strong analytical mind and can think critically then you are on the right track to go for Economics. You also need to be mathematically strong as a lot of work involves number crunching and problem solving. You will also need to do a lot of reading on Economic matters as that will keep you up-to-date in what is happening in the country and the world .You will need to prepare reports ,tables & Charts with your Research & Survey results and finally you will need to advise Clients, employers on likely trends and offer suggestions on which would be the right track to follow. Naturally since you will need to convince others of your projections & conclusions you will need to have strong communications skills both written & spoken.
There are varieties of Economic experts:
- Econometricians develop models and use mathematical analyses to test economic relationships.
- Financial economists analyze savings, investments, and risk.
- Industrial organization economists study how companies within an industry are organized and how they compete.
- International economists study international trade and the impact of globalization.
- Labour economists study the supply of workers and the demand for labor by employers.
- Macroeconomists and monetary economists examine the economy as a whole. They may research trends related to unemployment, inflation, and economic growth.
- Microeconomists study supply and demand decisions of individuals and firms.
- Public finance economists study the role of government in the economy. Specifically, they may analyze the effects of tax cuts, budget deficits, and welfare policies
Is there a future in the field?
As you have seen above there ae a wide variety of specialist in this field so just a graduation will not help if you really want to grow in the field of Economics –you would need to do your Masters and possibly your M.Phil or PhD too. If you do, then there is tremendous scope not only in Government but at senior levels in the corporate world, Banks and world bodies.
Alternatively you could decide on a number of other specialities e.g. Investment banking, or a job in actuary, consultancy, auditing, trading, education, research.
However with a bachelor’s degree in economics you could find jobs outside the economics profession as financial analysts, market research analysts, and similar positions 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 – http://www.hrcollege.edu/and
St Xaviers College, Mumbai – http://xaviers.edu/main/,
Delhi School Of Economics Delhi http://econdse.org/
St. Stephens College, New Delhi,
Loyola College Chennai.
Doctorate studies:
Gokale Institute of Politics & Economics Pune http://econdse.org/
Employment Avenues
Government, Banks, Industrial Houses, Consultancy Institutions, World Bank,IMF, etc
Monies
Good scope and money for Post graduates/PhD in this field.
Please do not be satisfied with just acquiring a Degree/Diploma – try and enhance your CV by doing online learning programs (with a certificate) of programs relevant to your choice of career. Your chances of employment will be much better than just a plain degree/diploma.
Please check this website under other details for places you can learn online. Also try and develop your confidence by doing a public speaking training program with people like Toast Masters International.
For government jobs: please check : http://www.employment-newspaper.com/