Nikhil

What are the career options I can choose after B.A. in economics hons. ?

Can I opt for MBA in economics? does it have good scope? or should I go for Masters in applied economics? which has better scope in future? please help me.. I m very confused ! thank you.


by Nikhil
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2 answers

RE: What are the career options I can choose after B.A. in economics hons. ?

Gomathi Venkat
Gomathi Venkat
Verified Career Expert
Managing Director at GV Counseling Group
  • Bengaluru

Dear aspirant

Economists
Thank you for approaching counsellors at CareerGuide.com. You have clearly stated that you have plans in studying further and not interested in work. As you have planned to study and are confused between MBA and MA applied economics, i shall give you some light on the two and say what is suitable for you.

To straight away say, you can study MA applied economics rather tahn doing an MBA because of just one reason, you are lacking work experience and an MBA would not suit you in this aspect. Therefore i advice you to take up MA applied economics. An MA Applied Economics or MA Economics will be more suitable to you. Studying an MA will give you in depth knowledge rather doing an MBA because MBA is a pure management degree and studying thsi MBA will completely divert you from Economics. Ask your self if you want a management degree or an economics degree. And one more thing, India has no degree like MBA in Economics but there are very few universities offering MBA Business economics. This degree is again a mixture of business and economics and the syllabus will be concentrated only on how economics contributes and facilitates running a business. For example, you cannot study about how economics will help in trade partnerships both in export or import or how economics plays within health care. But if you choose MA economics or applied economics you can learn how economics plays within ecah sector or industry.

So finally an MBA Business economics will give you knowledge only on economics in business functions. But if you study MA Economics you will get knowledge about economics functions in various sectors. As you are completing your bachelors and then proceeding to your Masters, I advice you to to consider studying MA Economics/ Applied economics itself rather than doing an MBA. Some of the colleges in India that offer MA Economics/ Applied economics are
  1. Jawaharlal Nehru University Delhi
  2. Madras school of economics Chennai Tamilnadu
  3. Jamila Millia Islamia university New Delhi
  4. St Josephs college Bangalore
  5. Christ university Bangalore
  6. Madras christian college Chennai Tamilnadu
  7. Punjabi university Patiala
  8. Jain University Bangalore
  9. osmania university Andhra Pradesh
  10. University of Hyderabad
  11. University of Mumbai
  12. University of Delhi Shri Ram college
  13. University of Kolkatta
  14. Kalyani university Kolkatta
  15. Maharishi Dayanand University

If you require further help please write to us. All the very best.

RE: What are the career options I can choose after B.A. in economics hons. ?

Terry Leroy
Terry Leroy

Both an MBA with a focus on economics and a Master's in Applied Economics can offer good career opportunities, but the choice between them depends on your specific career goals and interests.

MBA in Economics:

Pros:

  1. Broad Business Perspective: An MBA with a focus on economics provides a broader business perspective. You'll gain knowledge in various business areas such as finance, marketing, operations, and strategy.

  2. Leadership Opportunities: MBAs are often sought after for leadership roles. If you aspire to hold managerial or executive positions, an MBA can be beneficial.

  3. Networking: MBA programs often have extensive alumni networks and opportunities for networking with professionals from various industries.

Cons:

  1. Specialization: While an MBA allows for specialization, it may not provide the same depth of focus on economics as a specialized master's program.

Master's in Applied Economics:

Pros:

  1. Specialized Knowledge: A Master's in Applied Economics offers a more specialized focus on economic analysis and research. It can be particularly advantageous if you're interested in roles that require strong analytical and quantitative skills.

  2. Research Opportunities: Applied Economics programs often involve research projects, giving you practical experience and a chance to apply economic theories to real-world scenarios.

  3. Data Analysis Skills: If you're interested in roles that involve data analysis, policy analysis, or research, a master's in applied economics can equip you with the necessary skills.

Cons:

  1. Narrower Focus: While specialization is an advantage, it might limit your career options compared to the broader perspective of an MBA.

Considerations:

  1. Career Goals: Clarify your specific career goals. If you see yourself in a leadership position where a broader business understanding is crucial, an MBA might be more suitable. If you prefer roles focused on economic analysis and research, a Master's in Applied Economics may align better.

  2. Industry Preferences: Research the industries you're interested in and see which qualifications are more valued. Some industries may prefer the versatility of an MBA, while others may value the specialized skills of a master's in applied economics.

  3. Personal Interests: Consider what areas of economics and business interest you the most. Your passion for the subject will contribute to your success in your chosen field.

  4. Networking and Internship Opportunities: Investigate the networking and internship opportunities offered by each program. Practical experience can significantly enhance your employability.

Before making a decision, it might be helpful to talk to professionals in your desired field, career advisors, and alumni from both types of programs to get insights and advice tailored to your situation.

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RE: What are the career options I can choose after B.A. in economics hons. ?

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Caching Date: 6/17/2024 9:59:21 PM