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BA Economics: Subjects, Jobs, Syllabus, Job Opportunities, Scope

13 September,2023  |  By Brainwonders

Bachelor of Arts in Economics

BA in Economics or Bachelor of Arts in Economics is a 3 years Undergraduate degree course pursued by students who aspire to make it big in Banking and Finance and other major corporate industries.

Admissions to the BA in Economics program are granted through a combination of merit-based selection and entrance exams. Several renowned colleges offering this program, such as the Indian Statistical Institute, Jawaharlal Nehru University, and Jadavpur University, conduct entrance exams like JNUEE, DUET, and JMI EEE for admission.

The typical tuition fees for a BA in Economics program vary, ranging from INR 15,000 to 65,000. After completing their BA in Economics, students have the option to further their studies with an MA in Economics, a PhD in Economics, or an MBA. Graduates of BA in Economics programs find employment opportunities in various sectors, including Indian Economic Services, banking and finance, and private and foreign banks.

Many students choose to study economics primarily for the promising job opportunities it offers, with starting salaries typically ranging from INR 4 LPA and the potential for significant growth to 30 - 35 LPA with experience and exposure.

Name of the Course Bachelor of Arts in Economics
Course Level Undergraduate
Course Duration 3 years
Course Mode Regular / Full time
Course Eligibility Criteria Class 12th Board exams with 50% aggregate marks
Course Admission Process Merit Based / Entrance Exams
Average Course Fees (INR) 45,000
Average Salary (INR) 3 - 4.5 LPA
Areas of Employment Government / Private Banks, Finance & Banking Sectors, Trade Markets
 

What is BA in Economics?

BA in Economics deals with the study of various economic theories, econometrics, applied economics, and a wide range of related subjects. This undergraduate program is available to students upon completion of their 12th-grade board exams and is offered in colleges and universities nationwide.

BA in Economics primarily focuses on topics such as Demand and Supply, History of the Indian Economy, National Income, Inflation and Deflation, and Production and Supply, among others. Given the significant emphasis on handling extensive data in economics, the importance of statistics is deeply integrated into the course.

In recent years, the field of Economics has experienced a substantial surge in popularity due to the numerous opportunities it presents. Graduates of BA in Economics programs can expect to receive starting salary packages ranging from INR 4 to 7 LPA.

Why Study BA in Economics?

Several factors contribute to why you should consider pursuing a BA in Economics. Below, we outline some key points for your reference:

  • Diverse Career Opportunities: A degree in economics opens doors to a wide array of career options across various industries and sectors. Economists can find roles in business, government, academia, and private enterprises.
  • Solid Foundational Knowledge: The comprehensive curriculum of economics provides a strong foundation for prestigious career paths. It offers in-depth insights into finance, markets, and resource management.
  • Intellectual Challenges: Economics coursework encourages critical thinking and engages students in thought-provoking activities. Throughout the program, you'll encounter challenges that deepen your understanding of global economics and its impact on various aspects of the business world.

BA in Economics Admission Process

Admissions to the BA in Economics program are determined through a combination of merit-based selection and entrance examinations. The entrance exams typically consist of multiple-choice questions (MCQs). However, the inclusion of subjective questions may vary depending on the syllabus and the specific entrance exam format of the college.

BA in Economics Eligibility

Prospective students interested in enrolling in BA in Economics programs must meet the following eligibility criteria to gain admission to colleges that offer BA in Economics courses:

  • Students should clear class 12th board exams with a minimum 50% aggregate marks or equivalent CGPA
  • They should clear their class 12th board exams from a recognized board

BA in Economics Entrance Exams

Students aspiring to pursue a BA in Economics must successfully pass the prescribed entrance exams for the program. Certain colleges admit students based on their performance in entrance exams, followed by an interview round.

Various colleges conduct entrance exams such as JNUEE, DUET, Jadavpur University Entrance Exams, JMI EEE, and more to select candidates for BA in Economics courses.

Exam Name Application Period Exam Date
NPAT December 01, 2022 to May 21, 2023 January 04, 2023 – May 31, 2023
PUCET To be Announced To be Announced
IPU CET March, 2023 to April, 2023 April 2023
JNUEE To be Announced To be Announced
 

BA in Economics Syllabus

The BA in Economics curriculum encompasses an extensive array of subjects, spanning from Financial Systems and the History of Economics to Financial Markets and Foreign Economic Theory. The table below outlines the topics covered throughout the three-year course duration.

First Year
  1. Micro and Macro Economics
  2. Mathematical Methods of Economics
  3. Economic Theory
  4. Economic Statistics
  5. Financial Systems
Second Year
  1. History of Economics
  2. Econometrics
  3. Development of Economics in India
  4. Economy and Society
  5. Macro & Micro Economics - Intermediate
Third Year
  1. Economic Development of India
  2. Development Theory
  3. Economics of the Society
  4. Foreign Economics Theory
  5. Financial Markets
  6. Financial Economics
 

BA in Economics Subjects

Semester I Semester II
  1. Evolution and Definition of Economics
  2. Nature & Scope of Economics
  3. Methods of Economics Analysis
  4. Inductive & Deductive Logic, Merit and Demerits.
  5. Utility Demand, Supply
  6. Commodities and their types
  7. Value and Price
  8. Market
  9. Administered and Non- Administered Prices
  10. Demand- Supply equilibrium.
  11. Cardinal (Marshal) and Ordinal Utility
  12. Approaches to Demand
  13. Indifference Curve: Consumer equilibrium (Hichs & Slutsky)
  14. Price, Income and Substitution effects
  15. Derivation of Demand Curve.
  16. Elasticity of Demand
  17. Price, Income and Cross elasticity
  18. Consumer Surplus and its measurement.
  19. Factors of Production and their Characteristics
  20. Laws of Production
  21. Returns to Factor and Return to Scale
  22. Law of Variable Proportion
  23. Isoquants Nature and their Characteristics
  24. Producers equilibrium
  1. Economies of Scale
  2. Different Concepts of Costs Explicit & Implicit
  3. Accounting, Opportunity, Total fixed and Variable Costs
  4. Marginal & Average Costs & their relationship
  5. Concept of Revenue
  6. Total, Marginal & Average Revenue
  7. Break Even Point
  8. Concept and Classification
  9. Perfect Competition Characteristics
  10. Price and Output Determination for Firm and Industry
  11. Market Equilibrium
  12. Characteristics and Price- Output Determination
  13. Price Discrimination
  14. Monopolistic Competition
  15. Characteristics Price- Output Determination
  16. Factor Pricing
  17. Theory of Marginal Productivity of Distribution
  18. Concept of Adding up Theorem
  19. Theories of Wages and Rent: Classical and Modern.
  20. Interest: Concept, Classical and Keynesian Theories of Interest
  21. Profit: Net and Gross
  22. Theories of Profit.
Semester III Semester IV
  1. Structure of Indian Economy - Primary, Secondary & Tertiary Sectors
  2. Natural Resources, Land, Water, Forest
  3. Mineral Resources.
  4. Demographic Features
  5. Population, Size, Sex, Rural-Urban Classification
  6. Population Distribution
  7. Recent National Population Policy.
  8. Agriculture: Nature and Importance
  9. Land Use Pattern
  10. Trends in Agriculture Production and Productivity
  11. Cropping Pattern.
  12. Land Reforms: Green Revolution
  13. Rural Credit
  14. Agricultural Marketing
  15. Mechanization
  16. Small Scale and Cottage Industries- Meaning, Importance and Problems
  17. Major Industries in India: Iron and Steel, Textile, Sugar, Cement, Automobiles
  1. Infrastructure of Indian Economy
  2. Irrigation, Power, Transport, Communication
  3. Banking and Insurance.
  4. Human Infrastructure of Indian Economy
  5. Health, Nutrition, Education, Knowledge and Skills
  6. Housing and Sanitation.
  7. Planning in India- Objectives, Types, Strategy
  8. Analysis of Current Five- Year Plan.
  9. Economy- Land, land Utilization Pattern
  10. Natural Resources- Forest, Water & Mineral
  11. Agro-Climatic Zones
  12. Demographic Features of M.P.
  13. Agricultural Situation in Economy
  14. Cropping Pattern
  15. Production and Productivity of Main Corps,
  16. Sources of Credit in Agriculture, Irrigation
Semester V Semester VI
  1. Macro Variables- Stock and Flow
  2. Circular Flow of income
  3. Concept of National Income- GDP, GNP
  4. Measurement of National Income and Social Accounting in India
  5. National Income and Economic Welfare
  6. Classical Theory of Employment
  7. Keynesian Theory of Employment
  8. Aggregate Demand and Supply Functions
  9. Effective Demand
  10. Consumption Function
  11. Factors Affecting Consumption
  12. Average and Marginal propensities to consume
  13. Simple Investment
  14. Saving Function & Sources of Saving Mobilization
  15. Investment Function
  16. Marginal Efficiency of Capital
  17. Factors Affecting Capital Formation
  18. Concept of Accelerator.
  1. Public Finance and Public Economics
  2. Public, Private and Merits Goods
  3. Market and State- Role and Functions
  4. Principle of Maximum Social Advantage
  5. Sources of Revenue- Taxes, Loans, Grants and Aids
  6. Canons of Taxation
  7. Principles of Public Expenditure
  8. Principles of Public Debt and Methods of Redaction
  9. Wagener’s Law- Increasing Activities
  10. Effects of Public Expenditure on Production and Distribution.
  11. Public Finance in India
  12. Concept and Types of Budget
  13. Fiscal Deficit
  14. Deficit Financing and Deficit Budget.
  15. Constitution and Function of Finance Commission
  16. Recommendation of Latest Finance Commission
  17. Latest Budget
  18. The stock of Money and its Measures
  19. Cash Transaction and Cash Balance Approaches.
  20. Inflation, Deflation, and Recession
  21. Demand-Pull and Cost-Push Inflation
  22. Bank- Meaning and Types
  23. Objectives and Limitations of Monetary Policy.
 

Top Colleges for BA Economics

Some of the top colleges in India that offer B.A. In Economics -

  • Shri Ram College of Commerce, New Delhi
  • St. Stephen's College, New Delhi
  • Lady Shri Ram College, New Delhi
  • St. Xavier's College, Kolkata/Mumbai
  • Loyola College, Chennai
  • Hindu College, New Delhi
  • Ashoka University, Sonepat
  • Loyola College, Chennai
  • Hansraj College, New Delhi
  • Ethiraj College for Women, Chennai
  • Fergusson College, Pune

Courses after BA in Economics

The initial program we will explore, which can be pursued immediately after completing a BA in Economics, is an MA in Economics.

MA in economics

Below, you will find the fundamental prerequisites for pursuing an MA in Economics:

  • To be eligible for the MA in Economics program, students must have completed their undergraduate or BA in Economics studies from a recognized university with a minimum of 50% aggregate marks or an equivalent CGPA.
  • Admissions to the MA in Economics program typically depend on both entrance exams conducted by various universities and merit-based criteria.
  • The average cost of pursuing an MA in Economics ranges from INR 10,000 to 60,000.
  • On average, graduates of the MA in Economics program can expect placement opportunities with salaries ranging from INR 3 to 7 LPA.

PhD in Economics

After earning their Bachelor's and Postgraduate degrees, students have the option to pursue research studies or a PhD in Economics. Here are some essential prerequisites for undertaking a PhD in Economics:

  • To be eligible for a PhD in Economics program, students must have completed their Post Graduation or Master's degree in Economics from a recognized university with a minimum of 50% to 55% aggregate marks or an equivalent CGPA.
  • Admission to PhD in Economics programs is typically based on entrance exams such as UGC NET, GATE, GRE, and similar assessments.
  • The average tuition fees for pursuing a Ph.D. in Economics range from INR 80,000 to 6,00,000, with a program duration spanning 3 to 5 years.

BA in Economics Salary

The average post-graduation salary for graduates with a BA in Economics typically falls within the range of 3.5 - 5 LPA. However, individual salaries may vary based on the specific position and job responsibilities.

Here are some job profiles for BA in Economics graduates, along with their average salaries:

Job Profiles Average Salary (INR)
Investment Banker 6 - 8 LPA
Financial Analyst 5.5 - 9 LPA
Stock Broker 6 - 9 LPA
Auditor 4 - 8 LPA
Systems Analyst 4 - 6 LPA
 

Conclusion

B.A economics is a vast course that provides extensive knowledge about the practical and technical concepts that run the world.

A student needs to develop many skills to reach their professional goal. The following blog from Brainwonders might help you understand those necessary skills for a better future Top 8 Skills of the Future: Let’s talk about developing them. Here at Brainwonders, we provide certified career counselling by the best career counselors. They will help you at each step to decide your career path. This guidance will be based entirely on understanding your innate abilities, assessed through a well-research method called DMIT. For any more queries, please feel free to contact us.

BA in Economics FAQs

Q1. Is a BA in economics good?

Ans: An economics degree provides a strong foundation for pursuing careers in finance and related fields. Common career trajectories for economics graduates include roles in data analysis, such as becoming an actuary or investment analyst. For those seeking positions directly related to economics, further education or specialized training is often advisable.

Q2. What are the subjects in BA economics?

Ans: The Bachelor of Economics, often referred to as BA Economics, is a three-year undergraduate program that encompasses both qualitative and quantitative aspects of economics. It covers subjects such as microeconomics, macroeconomics, econometrics, statistics, economic history, and political economy, among others.

Q3. What jobs can you get with a BA in economics?

Ans: Economist is a common career path for economics graduates.

  • Analyst of financial risks.
  • Analyst of data.
  • Financial advisor.
  • Accountant is a professional in the field of accounting.
  • Economic analyst.
  • Financial advisor.
  • Analyst of investments.

Q4. Which is better BCOM or BA economics?

Ans: When making the choice between a B.Com and a B.A. in Economics, it's essential to consider your personal interests and career aspirations. If you're inclined towards banking and business, opting for a B.Com degree is a favorable path. Conversely, if you have a strong interest in exploring topics related to supply and demand dynamics and the behavior of goods, pursuing a B.A. in Economics is the more suitable option.

Are you aware which subjects and courses will bring you closer to your dream career?

Worry not, because the Brainwonders test and guidance will not only help you know it, but also follow it!


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