B.Sc Economics Latest Updates
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Bachelor of Science in Economics or BSc Economics is a full-time undergraduate program of 3 years. Candidates who have passed Class 12 or equivalent in relevant discipline from a recognized board are eligible to apply for this course. Admission to the program will be based on merit, i.e., on the basis of candidate’s marks in class 12 examination. However, there are some colleges that offer admission to this program on the basis of the candidate's performance in the entrance examination.
The average annual BSc Economics fees charged in India ranges between INR 50,000 and INR 1,00,000 depending on the college offering the course.
The BSc Economics syllabus provides candidates relevant knowledge regarding economic analysis, fundamentals, and principles of Economics. On completion of this program, candidates will get complete knowledge of how the economic principles are applied in the society, family, government and private sector, business, and science.
After completing this program, students can easily get numerous job opportunities in the field of Banking and Finance sector along with other career options. The average BSc Economics salary package is expected to range from INR 1.5 Lacs to INR 5 Lacs per annum.
Those who want to study further after completing this course can go for higher degree courses like MSc Economics and MBA.
BSc Economics Course Highlights
| Course Level | Undergraduate |
| Duration of the Course | 3 years |
| Examination Type | Semester System |
| Eligibility | 10+2 in any stream from a recognized board |
| Admission Process | Direct Admission followed by Counselling/ Entrance-based |
| Average Course Fee | INR 50,000 to 1.0 lacs |
| Average Starting Salary | INR 1,50,000 to INR 5,00,000 |
| Top Job Areas | Colleges, Universities, Banking and Finance Sector, Production firms. |
| Top Job Positions | Banker, Financial Advisor, Research Analyst, Subject Matter Expert |
- BSc Economics is a course that helps the students to learn the importance of economic development and the ways it needs to be practiced in various sectors such as the conservative use of natural resources, consumption of goods and services in the best possible way, maintenance of the equilibrium of demand and supply in the market, etc.
- This program offers students the knowledge of micro and macroeconomics which include economics at the individual level for example the determinants of demand and supply of consumers and economics at the national level for example GDP of the country.
- On completion of this program, students will be able to get jobs in various organizations such as Banking and Finance Section and in production firms also.
- B.Sc. Economics program provides students with knowledge and skills which in turn will help them to become a successful financial advisor and reach great heights.
Why study BSc Economics?
There are certain benefits of pursuing a B.Sc. Economics degree program. Some of them are:
- A graduate in Economics can easily get numerous entry-level jobs in Banking, Finance, Insurance, Stock Markets, Sales and Marketing as well as in Corporations such as consulting firms or govt. offices.
- They can also start their career in government enterprises, public sector undertakings, investment firms, newspapers, etc.
- As a general option available to all social science students, economics students can go for jobs in the areas of Journalism, Law, etc.
- Those who wish to pursue higher studies in the field of Economics can also pursue MPhil, PhD in this field, and can easily get a higher position in the public and private sector.
BSc Economics Admission Process
- Admission to BSc Economics program will be based on the merit list prepared by the admission authorities on the basis of marks scored in the Class 12 examination. However, some colleges conduct entrance examinations for admission in B.Sc. Economics program.
- In order to get direct admission in B.Sc. Economics, candidates are required to score high marks in Class 12. Based on marks obtained in Class 12 and a personal interview, candidates will be shortlisted for further admission rounds.
BSc Economics Eligibility Criteria
Students seeking BSc Economics admission are required to follow the minimum eligibility criteria laid down by the admission authority.
- The candidate should have passed class 12 or any other equivalent examination from a recognized board.
- The candidate should have a minimum of 50% marks in class 12th board exams.
| BSc Agriculture Eligibility | BSc Computer Science Eligibility | BSc Biotechnology Eligibility |
| BSc Psychology Eligibility | BSc Microbiology Eligibility | BSc IT Eligibility |
BSc Economics Entrance Exams
Entrance examinations are an important aspect of the admission process in any B.Sc. stream. Some of the top entrance examinations conducted for admission to BSc Economics program are given below.
| Name of the Exams | Registration Dates (Tentative) | Exam Dates (Tentative) |
|---|---|---|
| NPAT | December 2023 – May 21, 2024 |
January 2024 – May 2024 |
| CUET | February 2024 – April 2024 | May 15 - 31, 2024 |
| CUCET | November 28, 2023 - May 29, 2024 | May 2024 |
| SET | January 2024 |
May 2024 |
How to Prepare for B.Sc. Economics Entrance Examinations?
The entrance exams conducted for admission in BSc economics usually consist of multiple-choice questions. There are three sections in almost all entrance tests:
- Verbal Ability and Reading Comprehension
- Logical Reasoning and Data Interpretation
- Quantitative Aptitude
Important points to keep in mind while preparing for B.Sc. Economics Entrance Exams:
- VARC is the scoring section as it includes Reading Comprehension, Critical Reasoning, and Vocabulary. To prepare for this, the candidates should read newspapers, articles, novels, etc, and try to improve their vocabulary.
- Quantitative Ability is a tricky section. It includes some of the most important topics of Mathematics of HSC level like Geometry, Mensuration, Probability, Progressions, Matrices, Permutations & Combinations, Number systems, etc. Try to clear all the theories and concepts, and practice as much as possible.
- For logical reasoning, the only way is to practice. With practice, the student can find the different ways and ideas to solve questions in the logical reasoning section.
- Try to give as many time-based tests as you can as this will help you in preparing for the exam day. For computer-based tests, manage time for all the sections in such a way that you will be able to attempt all the questions given in the question paper.
- Solve at least 10-12 Mock Tests after completing your preparation.
- Don’t forget to devote time for revision as well, and don’t leave anything for the day of the exam.
How to get admission to a good B.Sc. Economics College?
- Since most of the colleges offer admission in B.Sc.Economics, on the basis of the candidate’s performance in the Class 12 examinations. So, it is very important to get a score above average in class 12th.
- It is also equally important to be mentally and physically prepared for further rounds after the entrance exam i.e. counseling and subsequent admission rounds.
- The candidates who have studied economics in class 12th may be aware of the basics of economics, but the students with other streams may be aware of the current economic events to clear the interview and group discussion round. Referring to the youtube videos can also be beneficial.
- The colleges that conduct admissions through entrance exams, require proper preparation beforehand. The examination includes sections like quantitative analysis and logical reasoning that needs conceptual clarity and a lot of practice.
BSc Economics Syllabus and Course Description
The detailed semester-wise BSc Economics course syllabus is provided in the table given below:
| Semester I | Semester II |
|---|---|
| Microeconomics I | Micro Economics II |
| Macroeconomics I | Macro Economics II |
| Indian Economy | Indian Economy II |
| Statistics for Economics I | Statistics for Economics II |
| Foundation of Mathematics | Mathematical Economics I |
| Core Environmental Studies | - |
| Semester III | Semester IV |
| Law and Economics Theory | International Economics |
| Theory and Application of Public Finance | Research Methodology |
| Introductory Econometrics | Primary and secondary research |
| Development of Economics | Liberal arts |
| Semester V | Semester VI |
| Economic Journalism | Portfolio Management |
| IT Applications in Economics | Economic Thoughts |
| Microeconomics III | Environmental Economics |
| Macroeconomics III | International Relations |
BSc Economics Colleges
Some of the top BSc Economics colleges in India are provided in the table given below.
| Name of the College/ University | Admission Process | Average Annual Fees |
|---|---|---|
| St. Xaviers College, Mumbai | Merit-Based | INR 7,187 |
| Mount Carmel College, Bangalore | Merit-Based | INR 42,000 |
| Kristu Jayanti College, Bangalore | Merit-Based | INR 53,000 |
| Lady Brabourne College, Kolkata | Entrance Based | INR 27,100 |
| Barrackpore Rastraguru Surendranath College | Merit-Based | INR 5,525 |
| JSS Academy of Higher Education and Research, Mysore | Merit-Based | INR 1,13,000 |
| NarseeMonjee Institute of Management Studies, Mumbai | Entrance Based | INR 74,800 |
| University School of Business, Chandigarh University | Merit-Based | INR 66,000 |
| SS Jain Subodh PG College, Jaipur | Merit-Based | INR 21,800 |
| Khalsa College, Amritsar | Merit-Based | INR 46,650 |
College Comparison
A college comparison of two top colleges has been mentioned below. The comparison has been done on the basis of course fees, salary offered, and top recruiters.
| Name of the College | NarseeMonjee Institute of Management Studies, Mumbai | Punjab University |
|---|---|---|
| Overview | Narsee Monjee Institute of Management is a deemed university that is situated in Mumbai and is known for providing various programs and degree courses in Engineering, Science, Commerce, Pharmacy, etc. | Punjab University is a prestigious university which is situated in Punjab and offers a wide range of programs at the undergraduate, postgraduate and research level. |
| Average Fees | INR 74,800 | INR 60,000 |
| Average Salary Package | INR 6,00,000 | INR 4,48,000 |
| Top Recruiting Companies | Govt. and Private Offices, Banking and Financial Institutions, etc. | Govt. and Private Offices, Banking and Financial Institutions, etc. |
Course Comparison
BSc Economics vs BA in Economics
Both these undergraduate degrees are of 3-year duration and aim to make students competent in the field of Economics and get the highest paying job.
Some of the basic differences between B.Sc. Economics and BA Economics are provided in the table given below.
| Parameters | BSc Economics | BA Economics |
|---|---|---|
| Qualification | Bachelor of Science in Economics | Bachelor of Arts in Economics |
| Eligibility | Candidates must have passed Class 12 or equivalent from a recognized board | Candidates must have passed Class 12 or equivalent from a recognized board |
| Admission Process | Entrance/ Merit-Based | Entrance/ Merit-Based |
| Course Overview | In this program, students study the subjects of Mathematics and Statistics at an advanced level. | In BA Economics, there are no practical lessons involved, rather it's more theoretical. |
| Average Annual Fees | INR 50,000 to 1 Lakhs | INR 20,000 to 3 Lakhs |
| Average Salary | INR 1.5-5 LPA | INR 3-5 LPA |
| Colleges | Punjab University, Lovely Professional University, GD Goenka University, Gurgaon, etc. | Indian Academy Degree College, Bangalore, Rai University, Ahmedabad, Punjab University, GD Goenka University, Gurgaon, etc. |
BSc Economics Jobs and Career Prospects
A graduate in Economics can easily get numerous entry-level jobs in Banking, Finance, Insurance, Stock Markets, Sales and Marketing and also in corporations such as consulting firms or govt. organizations.
Some of the popular working areas for Economics Graduate in an organization are:
- Educational Institutes
- Banks
- Financing Sector
- Stock Exchanges
- Transformation Centres
Some of the popular professional jobs available to a B.Sc. Economics graduates along with the corresponding salaries are provided in the table given below:
| Job Position | Job Profile | Average Annual Salary |
|---|---|---|
| Teacher | On completion of B.Sc. Economics program, students can go for teaching jobs and teach the concepts of economics to students in school or other educational institutions. | INR 3,25,000 |
| Senior Technical Assistant (Economics) | The job or a Senior Technical Assistant is to analyze, recommend, and coordinate the implementation of plans in order to ensure the smooth functioning of any department or firm. | INR 4,50,000 |
| Research Analyst | A Research Analyst is responsible for doing research, analysis, interpretation, and presentation of data pertaining to markets, operations, finance or accounting, economics, and any other information related to the area they work in. | INR 393,106 |
| Data Entry Operator | Data Entry Operator or DEO is responsible for entering data into distinct computer databases, managing and maintenance of records. | INR 176,934 |
BSc Economics Salary Trends
Students who have completed B.Sc. Economics programs are offered with a large number of job opportunities. The salary trends of some of the top posts that B.Sc. Economics graduates can opt for are given below:
BSc Economics Scope
After completing B.Sc. Economics program, there are a large number of job opportunities and career options. Students can choose any of the careers in accordance with their skills and interests.
Some of the topmost career choices after completion of B.Sc. Economics program is provided below:
- MSc Economics: After B.Sc. Economics, most of the students opt for M.Sc. Economics to boost their career and for better and high paying jobs.
- MBA in Managerial Economics: One can also pursue MBA in Managerial Economics, if they wish to go for topmost positions in any firm or they are interested in doing business in the future.
- Law: The graduates have the option to go for a 3 year LLB program. Law can be a beneficial step in the career of economics graduates.
- The graduates can prepare for civil services and also for banking examinations.
- They can work as a lecturer or teacher and teach economics in high schools.
BSc Economics FAQs
Ques. What is the full form of B.Sc Economics?
Ans. The full form of B.Sc. Economics is a Bachelor of Science in Economics.
Ques. What can I do after the B.Sc Economics program?
Ans. After pursuing B.Sc. Economics program, you can opt for jobs as a Chartered Accountant, Economist, etc. or you can also go for further studies such as M.Sc Economics or MA Econometrics.
Ques. I haven’t studied Mathematics in Class 12. Am I eligible to pursue B.Sc Economics?
Ans. No, you can’t pursue B.Sc. Economics without studying Mathematics in Class 12.
Ques. Where can I pursue a B.Sc Economics program in India?
Ans. Some of the top universities and institutes offering B.Sc Economics program in India are provided in the table below:
| St. Xavier’s College, Mumbai |
| Mount Carmel College, Bangalore |
| Kristu Jayanti College, Bangalore |
| Lady Brabourne College, Kolkata |
| Barrackpore RastraguruSurendranath College |
| JSS Academy of Higher Education and Research, Mysore |
| NarseeMonjee Institute of Management Studies, Mumbai |
| University School of Business, Chandigarh University |
Ques. Is B.Sc. Economics a good career option?
Ans. For any career related to Finance, an Economics degree is a good career option. Role in data analysis including an actuary or an Investment Analyst is topmost career options for an Economics graduate.
Ques. Which is a better course: B.Sc. Economics or B.A. Economics?
Ans. B.Sc. Economics involves the application of Mathematics with complex tools and is very practical in nature. Whereas, BA Economics involves more theory and focuses more on principles rather than applications. Both courses are good, but if you are good at Mathematics, then you should opt for B.Sc. in Economics.
Ques. Can I do MBA after completing B.Sc Economics?
Ans. Yes, you can do it. If you go for MBA after gaining deep knowledge of Economics, you will be able to learn management courses pretty better especially in terms of how the external environment impacts the businesses and also the overall impact of the economy on the industrial sector.
Ques. What are the best possible courses a student can opt for after B.Sc Economics degree?
Ans. On completion of B.Sc. in Economics program, a student can opt for the courses given below:
- M.Sc. Economics
- MA in Economics
- MA in Applied Economics
- MA Econometrics etc.
Ques. Is B.Sc economics a difficult program?
Ans. B.Sc. Economics can be difficult for students who are weak in Mathematics. If you are really interested in learning about Economics, then it might not be difficult for you. It may be difficult in the beginning but after learning a few basic concepts you will definitely enjoy it.
Ques. What is the average fee charged in colleges in India to pursue B.Sc Economics?
Ans. The average fee to pursue B.Sc. Economics program in colleges/ universities in India ranges between INR 50,000 and INR 1,00,000.
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