What is Economics?: Fees 2025, Subjects, Top Colleges, Admissions

The study of Economics is about the production, distribution, and consumption of goods and services. It is the study of the scarcity of resources and how to utilize them efficiently. You'll find 2 main sections in the Economics: Microeconomics and Macroeconomics.

Why not! In simple words, Economics is the study of humans in the regular business of life. It analyzes how they get their income and how they use it. That's why, on one side, it's the study of wealth and on the other, it's a part of the study of man.

It is a part of the Social Science where we study about the production, distribution, and consumption of resources in the society.

Yes, you'll find Economics subjects a bit different in the Commerce stream. Though the core concepts are the same, you'll find more statistical methods, supply and demand, inflation, national income, market structures, etc., topics. In the Arts, you'll find economic development, international trade, or public policy types topics.

Of course, here are some top recommendations for Economics books you can read:

• POOR ECONOMICS: Rethinking Poverty & the Ways to End It by Abhijit V. Banerjee & Esther Duflo.
• Popular Economics by John Tamny.
• The Fundamentals of Economics by Veerareddy Prabhakar Reddy.
• Principles Of Economics by Dr. RK Mishra.
• Good Economics for Hard Times Abhijit V. Banerjee & Esther Duflo.
• The Undercover Economist by Tim Harford.

In my opinion, it depends! If you're preparing for the CUET exam, the Class 12 NCERT books would be enough for you. However, if you're preparing for any other exam, it's better you check out their syllabus on their official websites.

Also, Class 11 is a base level of new subjects included in our curriculum, so without understanding the basic concepts on the foundational level, it'll be difficult for you to study further.

Why not! Every student in Class 11, when they opt for a specific stream, has an option to choose their desired study medium as well. If you want to pursue your further Economics studies in Hindi, you're free to opt for it. In fact, you can also pursue undergraduate courses after Class 12 in Hindi only. Many colleges offer BA Economics, etc., courses in Hindi medium.

Economics is a social science concerned with the production, distribution and consumption of goods and services. It studies how individuals, businesses, governments and nations make choices in allocating resources to satisfy their wants and needs and tries to determine how these groups should organize and coordinate efforts to achieve maximum output.

Economics can generally be broken down into macroeconomics, which concentrates on the behaviour of the aggregate economy, and microeconomics, which focuses on individual consumers. The majority of universities offer Bachelor's (BA Economics or BA Hons Economics) and Master's degrees (MA Economics or M.Sc Economics) programs.

Business economics is a field in applied economics that uses economic theory and quantitative methods to analyze business enterprises and the factors contributing to the diversity of organizational structures and the relationships of firms with labour, capital and product markets.

Business economics is the study of the financial issues and challenges faced by corporations operating in a specified marketplace or economy. Business economics deals with issues such as business organization, management, expansion and strategy. Studies might include how and why corporations expand, the impact of entrepreneurs, the interactions between corporations, and the role of governments in regulation. Multiple universities offer Bachelor's (BBE) and master's degrees (MBE) in business economics.

Good question! To make this simple for you, the word Economics was derived from an ancient Greek work "oikonomia", which literally means "household management". So now you understand, Economics is a subject in which we basically study about the budget of the whole world.

Its concepts are used to study the production, distribution, and consumption of goods and services, and how to utilize these sources when they are scarce.

To be eligible for MA Economics you should have completed either BA Economics or BSc Economics. Apart from that you should have scored at least 50% or 5.5 CGPA in your graduation. Youb need not worry about age limit as most colleges do not prescribe minimum or maximum age bar for the course. You can apply for the course after you have completed the graduation or when you are in your final year. 

Here are some documents you must carry during the Economics application process:

• Class 10 and 12 marksheets
• A bachelor's or master's degree (if applicable)
• Provisional Certificate
• Transfer Certificate
• Migration Certificate
• Passport-sized photographs (at least two)
• Valid Photo ID Proof (Adhaar, PAN Card, Passport, DL, etc.)

Hello, getting admission to an Economics course online is more simpler and you won't even need to prepare for any entrance exams, because most online courses are offered a merit basis.

You just need to apply online, upload your documents, wait for the college to verify your application, if you get shortlisted, the college with send you a confirmation email.

After graduation, you have two options for further studies: either you can opt for a full-fledged postgraduate degree course for 2 years, or you can go for a PG Diploma or certificate course. A Diploma or certificate will be shorter than a PG programme and will provide you with the same industry relevant skills, but in a specific area of study.

Meanwhile, a PG course will provide an in-depth understanding of the whole subject.

The eligibility criteria for CUET-PG entrance exam for the Master's in Economics course are to obtain a bachelor's degree in a relevant discipline from a recognised university. Reservation quotas mandate 15% seats for SC, 7.5% seats for ST, and 27% seats for other backward classes. Though there is no age limit for Master's1 you must check the age criteria for your desired college specifically. 

In my opinion, Edusure and Ecopoint are the two best options for the MA in Economics entrance exam preparations. Both of them have their own ways to coach students, for example, Edusure will provide the best study materials, mock tests, and doubt-clearing sessions. Meanwhile, Ecopoint has the Economics-based tailored content for students. Their success rate is also high compared to other institutes.

BA Economics revolves aorund the optimal use of resources and concentrates on the major conceptual bifurcations of Economics, namely Macroeconomics and Microeconomics. It delves into the various types of financial markets, the operation of an economy, and current economic trends. Some of the common/popular BA subjects available under the Economics specialisation:

• Econometrics
• Introduction to Statistical Methods in Economics
• Introductory Macroeconomics
• Economics of Banking
• The Economics of Labour
• Economic Analysis of Agriculture
• Business Economics

 M.A. in Economics is a Post Graduate degree that can be done by any aspirant with an undergraduate degree whereas M.Sc. Economics is a Post Graduate Academic degree course that can be accomplished by an aspirant with a Bachelor of Science degree. M.A. Economics focuses on the study of economics as a discipline at an advanced level whereas M.Sc. Economics focuses on the study of scientific principles in the field of economics. The job opportunities, job profiles as well as the salary packages offered for an M.Sc. In Economics graduate is better than that of an M.A. In Economics graduate.

Hi, BA in Economics is a 3- year long course, generally comprising qualitative and quantitative approaches to Social Sciences. The course essentially involves a study of the main aspects related to improving an organizations overall profitability through different approaches and techniques. 

B.Sc. Economics provides the knowledge exposure about micro and macroeconomics, which include economics at individual level for example determinants of demand and supply of consumers and economics at national level for example Gross Domestic Product (GDP) of the country. Thanks.

Hello, here are some top Economics book options you can consider, along with your regular syllabus for extra knowledge and exposure:

• What Went Wrong With Capitalism by Ruchir Sharma.
• Economics Beyond the Millennium by Alan Kirman.
• The Deficit Myth by Stephanie Kelton.
• THE shortest HISTORY OF ECONOMICS by Andrew Leigh.
• ECONOMICS IN ONE LESSON by henry Hazlitt.

Hope you'll like them!

Yes, you'll find a significant amount of Maths used in Economics courses, especially at the UG-level courses. Though UG, Diploma, and Certificate level courses with basic concepts have simpler Mathematical models used in the program, you'll find more complex Maths concepts in the further level courses.

Please refer to the table below for the best low costing Economics colleges in India that offer the highest placement to their students:

Disclaimer: This information is sourced from the official website.

There are about 4,300+ best Economics colleges in India. Of these, 1,463 colleges are owned by public/government organisations, 1,014 colleges are privately owned, and 884 colleges are owned by public/government organisations. Students can secure admission to the best BA Economics colleges in India after passing Class 12 boards or through entrance exam like CUET. Some of the popular colleges include Hansraj College, St. Xavier's College, Mumbai, Miranda House, Lady Shri Ram College for Women, Kirori Mal College, Hindu College, Loyola College, Atma Ram Sanatan Dharma College, MCC, and many others.

Yes, you can surely pursue Economics in India without any entrance exam. Please refer to the table below for the best Economics colleges in India that accept students without any entrance exam:

Disclaimer: This information is sourced from the official website.

No, it can be observed that studying Economics in India can be quite affordable as most of the colleges have an average tuition fee of less than INR 1 lakh. You can refer below for the low costing Economics colleges in India:

Disclaimer: This information is sourced from the official website.

• After pursuing Economics, one can pursue either a postgraduation or a doctorate in Economics and establish a career in academics. One can also pursue a Bachelor of Education (B.Ed) and work as a TGT or PGT in popular schools.
• You gain an insight into how economics works globally.
• Different economics-related careers are well-paid.
• Economics skills apply across industries and roles.
• Economics graduates are also hired by public and private banks and other commercial companies.
• Graduates can also pursue professional courses such as Chartered Accountancy, Company Secretary,  Cost and Management Accounting (CMA), Chartered Financial Analyst (CFA),  Bachelor of Laws (LLB), etc. after studying Economics.
• Learn about international trade and global markets.
• Professionals are hired by top multi-national companies for various job profiles such as Analyst, Administrator, Economist, Banker etc.

Anyone who wishes to pursue a promising career in academics or economic policy-making or the banking industry can pursue Economics.Those candidates who have pursued Mathematics are favoured for UG courses in Economics since Statistics is one of the major subjects offered both in UG and PG courses in Economics.Many candidates also aspire to join government services through UPSC CSE, or State PSCs or UPSC IES and Economics is a popular optional subject in these examinations. Students who possess Research, Analytical, and Statistical skills can be admitted to Economics courses.