PhD in Economics - Conduct Cutting-edge Research in Economics

 Economics is the heart of everyday life, and it’s also the gateway to a future career. Earning an economics degree gives you a better knowledge of market dynamics, and from there, students can apply their knowledge to different companies they want to work with.

In market exchange rate terms, the Indian economy will cross the thresholds of US$5, 10, 20 and 30 trillion in FY27, FY34, FY43 and FY48, respectively. In PPP terms, we expect that by FY48, India's GDP may reach the US$40 trillion mark.

Thousands of universities in India and overseas offer economics programmes to students at different educational levels. Students can select between undergraduate, postgraduate, and doctorate economics courses depending on their interests and qualifications. However, pursuing a PhD in Economics is one of the best options for students to build careers as economists in academic and non-academic positions.

A doctorate should only be taken if an individual is interested in research-oriented work. Therefore, most doctorate degrees are taken by people involved in the Academics field.

PhD in Economics is a doctorate course that helps you examine the world's financial information with excellent statistical techniques. It is a 3-5 year degree course that involves the study of labour economics, applied microeconomics, energy economics, game theory, economic theory, theoretical and applied econometrics, etc.

PhD In Economics Eligibility Criteria

Every university's eligibility criteria are different from one college to another. So, we have mentioned some common criteria that most universities follow. Have a look!

  • First, students need to complete a bachelor's and master's degree to take admission to a PhD degree.

  • They must gain 45-60% in their previous degree.

  • Some universities consider national and state-level exam scores, and some prefer their college test marks. Some of the exams are - UGC NET, JCECE (Jharkhand Combined Entrance Competitive Exam), GATE, and many more.

  • After completing the test, sometimes colleges consider an interview also.

PhD in Economics Subjects

The PhD in Economics course has various topics and subjects for the graduates to learn and gain all the essential skills which come with this degree. Below are some basic subjects that help students prepare for a successful career. Mentioned below are the subjects covered in this degree:

  • Introduction to Philosophy of Science and Research Methodology
  • Statistical Estimation and Testing of a Hypothesis
  • Poverty, Income Distribution and Justice
  • Consumer Demand Theory
  • Theory of Production and Cost
  • Development and Growth Theory
  • Statistical and Econometric Software
  • Methods of Data Collection
  • Problems in Econometric Estimation
  • Sustainable Development
  • Modern Theory of Trade and Trade Policy
  • WTO or World Trade Organisation and Indian Competition Policy

Skills Required for PhD Economics Scholars

To gain fame in any sector, every student should first have the necessary skills. So, why does everyone mention this thing called “skills”? The reason is that if you are stuck somewhere in the company project, no one will bring you out of that situation; only your skills or knowledge about the course will help you. So, studying the subject is important, but good skills are also essential. Have a look at some of the skills acquired by PhD economics graduates:

  • Studious
  • Dedication
  • Reasoning
  • Confidence
  • Enthusiasm
  • Avid Reader
  • Decision making
  • Determination
  • Strong Mindset
  • Passion
  • Logical
  • Eager
  • Strong-willed

Students with this degree work in the education sector and research and development. This degree is only for those who are interested in becoming teachers in the future. But there are also many other options for students to work, like political scientists, financial consultants, senior economists, and many others. So it totally depends upon your interest in building your future after completing your PhD in Economics degree.

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