The Ph.D. in Economics is the most interesting program for the students. This program is one of the challenging subjects for the students. Nowadays, many students are interestingly pursuing this course. In India, many universities are providing Ph.D. in Economics programs. There is a great scope to get a good job for students after pursuing a Ph.D. in Economics.
About Ph.D. in Economics
The Ph.D. in Economics is a Doctoral program, and the duration of this course is three to five years. However, to pursue this course students must have completed their degree or under graduation program related to the economics stream and post-graduation should be done in economics or its related subjects. Moreover, they should have completed from the recognized university.
Mainly, in the first two years, they teach about the theory part and related to developing the research plans. however, after two years they will be focussing on the research work. Not only that, they have to do a lot of research work from the third year but also they need to do a lot of seminars. Moreover, the students are trained to do teaching work. With this, the students gain a lot of experience which gives them confidence and improves skills. Generally, the students who pursue the doctoral program have a career in the education industry as a professor of economics.
In this program, there are some of the core subjects that the students while pursuing this course. This program is mainly provided by the top universities in India. However, the fees for this program vary from one university to another university. Mostly, the fees start from Rs. 2,00,000 in many universities.
Areas of Research for Ph.D. in Economics
There are some of the main areas of research in economics where the students have to do a lot of research work and submit their work. Moreover, they have to attend seminars to present their work. Mainly, there are some areas of research that are mentioned below:
- Microeconomic theory
- Economic History
- Labor Economics
- Market Design in Economics
- International Trade in Economics
- Economic History
- Political Economy
- International Finance
- Behavioral and Experimental
Job Opportunities after Ph.D. in Economics
After completing the Ph.D. in Economies there are many job opportunities for the students. Not only that, some students pursue this course to get promotions but also to change the position or role of their job. Moreover, they gain a lot of knowledge after completing this doctoral program. However, their salary will also be increasing with this qualification. Mostly, the students choose the below mentioned after completing the Ph.D. in Economics.
Some of the jobs after Ph.D. in Economics
The Financial Consultants’ work is to understand and analyze the risks for implementing financial plans. Moreover, they have to maintain the financial condition of the company properly. They should advise the company or clients to achieve their objectives related to the finance department. The minimum salary of the financial consultant is Rs. 6,00,000 per annum and the maximum salary will be more than Rs. 20,00,000 per annum.
The work of Economists is to mainly focus on the demand and supply of resources, services, and goods of the company. Moreover, they should analyze the data after collecting it. However, to solve the economic issues they should find the actual problem, and they have to evaluate it properly. In the beginning, the salary of Economists is around Rs. 4,00,000 per year. However, after gaining experience the salary is more than Rs. 7,00,000 per annum.
The Geographer’s main work is to collect the data of geography by observing in the field, maps, and also through other mediums. After that, they have to make reports and should present their findings based on their observations. For freshers, the salary is around Rs.2,00,000 and with the experience, the maximum salary would be around Rs.7,00,000 per year.
The main work of the banker is to communicate with the clients and also evaluate money-related matters. Moreover, they should deal with the services provided by the banks. The minimum salary for the Banker job is around Rs.2,75,000 per year. Likewise, as the salary increases with experience, the maximum salary is around Rs.5,00,000 per year.
The work of the lecturer is to teach the students. They guide the students regarding the studies and also provide teaching material and study materials to the students. The starting salary of the lectures is around Rs.3,00,000 per annum. After gaining the experience the maximum salary is around Rs.14,00,000 per year.
Public Relations Officer:
The role of the Public Relations Officer is to make strategies and conduct campaigns. Moreover, they give presentations and press releases. They have to take the responsibility of dealing with the public, media, and also other organizations. They have to organize events, press conferences, etc. Likewise, they have to promote them. The minimum salary of the Public Relations Officer is around Rs.3,00,000 per year. With experience, the salary increases, and the maximum salary is around Rs.7,00,000 per annum.
The media analyst analyses the data of the product or service by following the media. Moreover, they make the report using the data and also evaluate based on that information. They also research to make that reports. In the beginning, the salary is around Rs.3,00,000 per year. After gaining the experience, they receive a salary of around Rs.9,00,000 per annum.
The responsibility of an Econometrician is to use statistics to understand and analyze the outcomes of the economic principles. This job is more in demand, and the salary is high for this profession. The average salary of an econometrician is around Rs.10,00,000 per year in the beginning stage. The range of the salary increases, and they can earn around Rs.30,00,000 per annum.
A Ph.D. in Economics is a good choice for students to pursue who are interested in economics. However, this program is not an easy program to complete. The one who completes this program has a lot of job opportunities. Mainly, many students become lecturers or professors, economists, and also they work on a lot of research.