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Doctor of Philosophy (PhD) in Economics Admission, Top Colleges, Syllabus, Scope and Salary 2023

Doctor of Philosophy (PhD) in Economics Admission, Top Colleges, Syllabus, Scope and Salary 2023

Doctor of Philosophy (PhD) in Economics Admission, Top Colleges, Syllabus, Scope and Salary 2023

A Ph.D. in Economics is a doctoral programme that lasts between three and five years. You must have a masters degree in Economics to be eligible for this course. Candidates should also have a Bachelor's degree in Economics or a Bachelor's degree in Technology with a focus on Economics from a reputable university.

In the Ph.D. in Economics programme, you will study a variety of important topics. Agricultural Economics, Financial Economics, Labour Economics, Industrial Economics, International Economics, Business Economics, Banking Economics, Environmental Economics, Developmental Economics, Rural Economics, and Econometrics are only a few examples.

Graduates of this esteemed degree can pursue a variety of job choices. Coaching Centres, Economics Consultancies, Economics Departments, Home Tuitions, Museums, Private Tuitions, Publishing Houses, Research and Development Agencies, and Schools are all places where they can find work.

Leading corporations are eager to hire Ph.D. in Economics graduates. Bank of India, Bharat Forge, Bharat Petroleum Corporation Limited, BSNL, Cognizant, Ericsson India, Flipkart, Future Group, Goldman Sachs, Grasim Honda Two Wheelers, Indian Oil, Infosys, JCB, Mahindra Engineering, Microsoft, ONGC, Reliance, Reliance Industries Limited, TATA, Tata Power, and TCS are among the notable companies that seek their expertise. These graduates can expect even higher income dependent on experience and other considerations, with an average salary ranging from INR 2 to 8 Lacs.

PhD In Economics: Course Highlights

The following is a list of course highlights that candidates should consider before pursuing a PhD in Economics.

Course Level Doctorate
Duration 3 to 5 years
Examination Type Semester System
Eligibility Post-graduation in Economics
Admission Process Based on counselling after clearing Entrance Tests like UGC-NET for different colleges.
Course Fee INR 80, 000 to 6 Lakh for three years
Average Starting Salary INR 2 to 8 lacs per annum
Top Recruiting Companies Bank of India, bharat forge, Bharat Petroleum Corporation Limited, BSNL, Cognizant, Ericsson India, Flipkart, Future Group, Goldman Sachs, Grasim Honda Two Wheelers, Indian Oil, Infosys, JCB, L T L T Engineering and Construction, Local Oye, Mahindra Engineering, Microsoft, ONGC, Reliance, Reliance Industries Limited, TATA, Tata Power, TCS
Job Positions Accounting, Auditor, Banking and Finance, Insurance Investment, Marketing, Stock Broker, Media Analyst, Management, Manufacturing, Advertising, Communication, Actuarial

Ph.D. in Economics: What is it about?

A Ph.D. in Economics often includes coursework in both macroeconomics and microeconomics. This degree is useful if you want to teach or conduct research in economic topics. Following the approval of your proposal and passing of the oral exam, the next years of your programme will be spent researching, writing, and defending a dissertation. This stage entails diving deeply into a certain issue in order to provide new information to the field.

Many students express a strong desire to pursue higher studies in this field. The principal channel that Economics provides is focused on research endeavours. A Ph.D. degree is advised if an individual has a significant interest in research-oriented tasks. Ph.D.s are typically pursued by persons in the academic field. This endeavour can lead to a better understanding of the specific field or subject, resulting in improved insights.

This could entail admission to well-known colleges and employment in major, profitable corporations. Many of them have also been involved in other areas such as community groups and developing norms based on what they've learned, studied, done in the field, and promoted.

Students who complete the Ph.D. in Economics programme will be able to comprehend numerous theoretical discussions in the disciplines of economics and business. They will also learn how to study economic difficulties and assess the implications for economic policies, as well as corporate planning and strategies.

Most economist positions require a master's degree or a Ph.D. in Economics. A graduate degree may also be required to advance in your career.

List of Top 10 Phd In Economics Colleges

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23 March, 2023

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07 Oct, 2023

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23 Jul, 2023

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23 March, 2023

A Better Alternative To Grading Student Writing

  • 9.00 AM
  • Dhaka, Bangladesh

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17 Apr, 2023

12 Things Successful Mompreneurs

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07 Oct, 2023

Ethics in Al Live Event Machines Judging.

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23 Jul, 2023

The Importance Of Intrinsic Motivation.

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23 Jul, 2023

The Importance Of Intrinsic Motivation.

  • 1.00 AM
  • Dhaka, Bangladesh

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23 Jul, 2023

The Importance Of Intrinsic Motivation.

  • 1.00 AM
  • Dhaka, Bangladesh

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Eligibility for Ph.D. in Economics

A recognised Master's or M.Phil. degree in Economics is required to register in a Ph.D. in Economics programme. A master's degree in Biology, Pharmacy, or a related discipline with at least 55% marks, as well as a valid Ph.D. entrance test score and an interview, is also acceptable. A Master's degree in Economics is required for entrance to the Economics Ph.D. programme.

If you entered an M.Phil programme through an entrance exam, you may not need to take another for a Ph.D. Some universities also admit students based on their performance on the National Eligibility Test (NET). Final admittance is chosen through an interview about a month before the semester begins. This simplifies the process for you.

A Master's or M.Phil degree is usually required before enrolling in a Ph.D. programme. If you excelled in your undergraduate BE/B.Tech programme at a reputable university, you may be eligible for direct admission to the Ph.D. programme. To be eligible, these individuals must have a qualifying exam score of 75% or more and a valid GATE score.

Different Fields of Economics

Economics is divided into several subfields. Some of the most important disciplines are listed here.

  1. Agricultural Economics
  2. Financial Economics
  3. Labour Economics
  4. Industrial Economics
  5. International Economics
  6. Business Economics
  7. Banking Economics
  8. Environmental Economics
  9. Developmental Economics
  10. Rural Economics and Rural Development
  11. Econometrics

You can submit an application to Indian Economic Services.

Ph.D. in Economics: Employment Opportunities

Following completion of a Masters or M.Phil. in Economics, many professions provide higher work opportunities.

  1. Accounting
  2. Auditor
  3. Banking and Finance
  4. Insurance Investment
  5. Marketing
  6. Stock Broker
  7. Media Analyst
  8. Management
  9. Manufacturing
  10. Advertising
  11. Communication
  12. Actuarial
  13. Education and Research
  14. Retailing
  15. System Analysis

Postsecondary economics teachers and economists are two vocations that benefit from a Ph.D. in Economics.

PhD in Economics Admission Process

  • Step 1:Registration- Candidates must go to the entrance examination authorities' website and register with an email or phone number, as well as create a login ID.
  • Step 2:Fill out the application form - Students must complete the application forms for the individual institutes where they wish to pursue their PhD in Economics. Online application forms are available. Candidates must provide information about their selected admission exam cities as well as the appropriate academic information.
  • Step 3:Upload numerous documents- Candidates must upload various documents in their desired size and format. Candidates must then pay the application fees and obtain a receipt for future reference.
  • Step 4:Attend the admission examination – Candidates must take the entrance examination. Each university has its unique admissions process. The students are invited to the interview based on their performance in the entrance exam.
  • Step 5:Attend the interview - Following the announcement of the admission test results, the selected students are invited to an interview. The interview may be conducted in rounds. Candidates must present their thesis and the topics in which they want to work throughout their PhD studies.
  • Step 6:Admission to the college - Students who pass the interview will be invited for additional admission procedures and will be allowed to enrol in that university.

Note: Applicants are recommended to monitor institution websites and newspapers for the most recent admissions announcements.

PhD Economics Entrance Exams

Most universities offering PhD Economics in India, conduct an entrance test for admitting students to the course. Only those who successfully clear the entrance examination are later asked to appear for an interview.

Although a huge number of institutions in India offer admission into PhD through their own selection tests, most universities offer acceptance into the program through the GATE Entrance assessment and UGC NET. A few popular entrance tests for the PhD in Economics course are as follows:

  1. JCECE (Jharkhand Combined Entrance Competitive Exam)
  2. UGC NET
  3. IIM Ph.D. test
  4. GRE
  5. GATE

Ph.D. in Economics: Job Prospects and Career Options

Students can choose from a variety of specialisations, which include:

  • Applied Economics
  • Econometrics
  • Business economics etc.

Candidates for lecture positions can pass the UGC NET. When compared to other fields, the pay in this one is quite good.

Work Location Salary
Mumbai, Maharashtra INR 258,000 - 645,000
Chennai, Tamil Nadu INR 200,000 - 720,000
Hyderabad, Andhra Pradesh INR 1,80,000
Bangalore, Karnataka INR 5,40,000

A Ph.D. degree opens doors to research-focused teaching positions. Graduates can get jobs in research labs and pursue options such as Junior Fellowship exams. As a result, Economics courses have grown in popularity among students.

Economics Ph.D. holders have numerous job options. Graduates with economics skills are in high demand in a variety of areas, both public and commercial. Individuals can expect to earn between Rs 4 and 8 lakh per year on average.

PhD in Economics Scope

Job Position Job Description Average Annual Pay Scale in INR
Lecturer/Professor The NET is conducted to determine the eligibility for Junior Research Fellowship Award or Assistant Professor. A lecturer’s job provides a stable salary and gives you a chance to constantly increase your knowledge. 295,493
Banker Bankers give their customers a wealth of services. They assist in setting up certificates of deposit and opening a checking or savings account as well as handling trusts, investment accounts, deposits, lines of credit and much more. 467,000
Economists An economist researches and interprets trends related to goods, services, and resources. They provide advice on economics to businesses and individuals.  455,286
Geographer A geographer uses qualitative and quantitative methods to gather and analyze data, synthesizing it into maps, reports, and other usable formats. Geographers specialize in the study of physical and human characteristics of an area, such as vegetation or population density. Employment often requires at least a bachelor's degree - and more commonly a master's degree - and relevant experience. Professional GIS certification may also be required. 5,14,536
Econometricians Reaching agreements about research projects with internal or external clients Monitoring and evaluating the data collection process. Using statistical software to organize and analyze the information gathered 478,705
Public Relations Officer Public relations (PR) is about managing reputation. To provide support and understanding to the clients as well as to try to influence them by your opinions and behavior. All means of media and communication should be used to manage the reputation of the customers. 240,790
Industrial organization economists Industrial economists analyze savings, investments, and risk. Industrial economists study the supply of workers and the demand for labor by employers. 8,70,558
Political Scientists Political scientists research the developmental and organizational aspects of political institutions, including government policies and patterns. While a bachelor's degree may qualify some candidates for entry-level positions with government entities, nonprofit associations, political campaigns or research organizations, completion of a master's or Ph.D. program in political science or public administration is the usual requirement for obtaining a position.  4,66,071