If you have an analytical mind and love working with statistics, spotting trends, and assessing labor markets, a Bachelor’s or Masters degree in Economics may be appropriate for you.
While there are numerous career prospects available after graduation, competition is fierce, which is why you should acquire as many skills as possible and learn how to utilize and apply your knowledge in the real world. Masters in Economics ranking matters a lot for your placements.
Masters in Economics in India – Scope and Employment Chances
In India, economics is a great vocation for people who love numbers and want to know how markets work and how the economy works. An economics degree teaches you how to use different economic principles and concepts to solve problems in the real world. It also teaches you how to use statistics to solve problems in the real world.
A postgraduate degree in economics can help you land jobs as an economist, accountant, and so on. If you haven’t completed your Bachelor’s, you will have to do that first in order to go for a Masters. You can research: What Is BA in Economics All About? Career Options & Colleges. And if you have completed your Bachelor’s and are interested in doing a Masters, you must research the top 10 Commerce Colleges In India – Eligibility And Placements.
Masters in Economics Jobs
The field of economics is expected to grow a lot over the next decade because more and more businesses are collecting data and need people who know how to turn that data into useful information.
People, who have Masters in Economics, will have higher chances of landing jobs because the field has changed substantially. People, who have pursued Masters in Economics, work in a wide range of fields. Let’s look at some of the top job titles these people hold:
- Economist
- Market Research Analyst
- Credit Analyst
- Statistician
- Financial Analyst
- Economics Teacher
The average salary for a person, who wants to pursue jobs in this field with Masters in Economics, is ₹583k/ year.
Top Universities in the World for Masters in Economics:
The easiest way to do this is to study at one of the world’s top universities:
1. Yale University
All students take five basic Masters In Economics subjects: microeconomics, econometrics, growth and macroeconomics, development econometrics, and advanced economic development. Students must enroll in two more electives to fulfill the degree’s credit requirement. Learners may pick electives from another Yale graduate school with the consent of their lecturers.
Degree candidates may continue in this program or pursue a dual program with one of two other schools: the School of Forestry and Environmental Studies or the School of Public Health. Learners must complete a research project at the conclusion of their studies, which acts as the program’s culminating activity.
Yale University is regionally recognized by the New England Commission on Higher Education.
2. Stanford University
Stanford University provides a masters degree in economics as part of its doctorate program. Students must finish at least 45 quarter credits beyond a bachelor’s degree. The Department of Economics must provide 40 of these credits.
Learners must complete at least two term papers or a masters thesis on an advanced economics subject. Students may receive up to five units of credit for their graduate-level thesis. Degree candidates may submit a term paper on a dissertation course instead of a masters thesis. Students must maintain a 3.0 GPA for all masters-level courses.
Many first-year graduate students obtain department scholarships that pay their tuition and fees as well as stipends to cover living costs. Throughout the academic year, the institution awards a number of scholarships.
Stanford University is regionally recognized by the WASC Senior College and University Commission.
3. Columbia University in New York
Columbia University provides a free-standing master of arts in economics program for students who want to acquire an MA without committing to a PhD. Only full-time students are considered for admission to the program.
The degree comprises seven core subjects and three electives that students may finish in three semesters. In addition to the curriculum, students must complete a research paper based on one of their optional courses.
Students with a bachelor’s degree in an area other than economics may apply, but they must have a solid foundation in courses such as linear algebra, college-level calculus, and statistics. The program prioritizes candidates who have completed undergraduate economics courses, such as intermediate macroeconomics or economic concepts.
4. Masters in Economics at Harvard
It’s one of the best economics departments in the world. It allows a student to study almost any area of economics. The high quality of Harvard undergraduates makes the classroom environment interesting for both the teacher and the students. People who study economics at Harvard make an average of $78,800 a year. This is more than the national average for people who get a bachelor’s degree in economics.
5. Boston University (BU)
BU offers Masters in Economics as a terminal degree with a different curriculum from the undergraduate and PhD programs in economics. The curriculum consists of eight courses totaling 32 credits. Four of the eight (16 credit) courses address the essential ideas of microeconomics, macroeconomics, statistics, and econometrics. For the remaining credit requirements, students may pick from a list of permitted electives. It is one of the greatest universities for pursuing a master’s degree in economics.
Although BU wants candidates to have bachelor’s degrees in economics or mathematics, those with undergraduate degrees in relevant disciplines may apply. Applicants must demonstrate an acceptable undergraduate background in calculus, linear algebra, and statistics. Applicants must also provide their most recent GRE scores.
Following the completion of the degree’s core courses, students must take a comprehensive test. This test is offered by the department twice a year. The fact that BU’s Masters in Economics is a STEM-designated program testifies to the quality and rigor of the training it delivers.
Conclusion
While you can’t go wrong with any of the schools on our list of the Top 5 Best Schools to Study Economics, it’s crucial to thoroughly assess each program to see whether it fulfills your academic and professional objectives. Some have small class numbers, while others have a wide choice of courses and research possibilities. In addition to researching each program, study the institution as a whole. Make sure that you enjoy the school’s location, size, community, and extracurricular activities. You can also opt for Career Counselling Online from Mindler.
