B. Com. in Applied Economics is a 3- year full- time course which is divided into 6 semesters. The program is designed to meet the growing need for an analytical and quantitative approach to problem- solving in the fast- evolving corporate world through application of the latest techniques involved in the field of Applied Economics.
The main aim of the course is to equip students with the requisite knowledge, thinking, understanding and skills required to deal with the complexities of an economic system and to contribute to resolving problems of production and distribution of various resources and applying the principles of economics towards optimal utilization of resources.
It aims to offer eligible students a basic theoretical knowledge and understanding of the various structures of an economy, the environment which it operates within, and its process of governance. The course is designed to develops students’ capacity in critical analysis and reflection on economic issues and their ability to undertake applied research in selected areas.
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This program also intends to build flexibility and adaptability of approach in eligible students, besides the ability to respond and initiate positively and appropriately to change, and to contribute to the society.
The course offers students an integrated understanding of the important functions within an economy– distribution, consumption and production, and the way in which they interact.
The average annual course fee in India ranges between INR 30,000 and 6 lacs, depending upon the institute offering the course. The average annual salary offered in India to successful postgraduates of the course ranges between INR 3 and 16 lakhs, depending upon the candidate’s expertise in the field.
Given below are some of the major highlights of the course.
|Course Level||Post Graduate|
|Examination Type||Semester System|
|Admission Process||Counselling after taking entrance examination|
|Course Fee||INR 30,000 to 6 lacs|
|Average Starting Salary||INR 3 to 16 lacs|
B.Com. in Applied Economics offers students the opportunity to specialise in the world of imports and exports, with a firm foundation in Economics. Students can learn more about why countries trade, trade policies and trade blocks, modes of payment and the financing of import and export transactions, since it is necessary for the exporter to insure the transaction.
The focus is on trade geography and the identification of export markets and export opportunities. Students are also taught in detail about trade communication and how to conduct business across the globe.
The qualification offers specialist knowledge together with an approach closely associated with application. Skills include the analysis of trade databases, an estimation of economic models, as well as execution of a comprehensive export project in the last semester of the course’s third year.
Some of the leading institutes offering the course in the country with the corresponding locations and fees charged by the respective colleges are listed below.
|COLLEGE NAME||CITY||AVERAGE ANNUAL FEES IN INR|
|BML Munjal university||Gurgaon||INR 5,80,000|
|Amity university||Lucknow||INR 3,47,000|
|School of management studies||Lucknow||INR 75,000|
|Lovely professional university||Jalandhar||INR 2,37,000|
|Integral university||Lucknow||INR 1,20,000|
|Doon business school||Dehradun||INR 2,21,000|
|Lovely professional university||Jalandhar||INR 2,55,000|
|Institute of technology and management||Dehradun||INR 89,600|
|PDM university||Bahadurgarh||INR 1,67,000|
|Poornima university||Jaipur||INR 84,000|
|Sanskriti university||Mathura||INR 90,000|
|Garden city university||Bangalore||INR 3,36,000|
|City college||Bangalore||INR 1,00,000|
|REVA university||Bangalore||INR 2,10,000|
|St. claret college||Bangalore||INR 60,000|
|Bahra university||Solan||INR 95,000|
|Amritsar college of engineering and technology||Amritsar||INR 70,000|
|Career InfoTech||Delhi||INR 30,000|
|Chandigarh group of colleges||Mohali||INR 1,09,000|
|Raffles university||Neemrana||INR 1,00,000|
|BFIT group of institutions||Dehradun||INR 1,36,000|
The basic eligibility for the course is a Higher Secondary School qualification with a minimum aggregate score of 50%, with Math and English as core subjects. Different universities have different minimum cut offs for admitting students, and admission largely depends on the student’s performance at the 10+2 level.
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To this course, admission is usually merit-based, i.e., depending on the student’s performance at the Senior Secondary level, however some colleges might conduct entrance tests for shortlisting and admitting students to the course.
Applied Economics essentially draws economic principles to provide practical solutions for an array of industries including aviation, finance, agriculture, internal and international banking, non-profit, consulting and academics, etc. a strong background in Applied Economics enables professionals to make educated predictions about financial trends.
Economics pertains to multiple positions, and certain skills shared by candidates who put practices in economics. Talent in Mathematics and Statistics are essential for learning, for an efficient application of statistical theories to finance and economic data.
Such professionals use highly advanced techniques to analyse data in order to solve practical problems. Many of them spend time developing their own formulas and methodologies. Applied Economics draws on economic principles to provide practical solutions to economic problems.
Some of the popular opportunities open to such graduates are listed below with the corresponding salaries offered for the respective positions.
|JOB POSITION||JOB DESCRIPTION||AVERAGE ANNUAL SALARY|
|Data Analyst||Data Analysts are responsible for conducting full life cycle analyses to include activities, requirements, and design. They develop reporting and analysing capabilities. They also monitor performance and quality control plans to identify improvements.||INR 3,49,000|
|Economics Teacher||Economics Teachers are responsible for preparing and delivering lectures to undergraduate and graduate students on topic of economics, macroeconomics and price study. They prepare course material such as syllabus, assignments, homework and hand-outs.||INR 6,40,000|
|Assistant Manager||Assistant Managers are responsible for assisting employers. They require leadership skills for managing a group of sales people in retail or dishing out to servers in restaurant. They need to keep a level head, should be able to multitask and have excellent people skills.||INR 5,81,000|
|Lead Modeler||Lead Modelers are responsible for helping develop lead edge AML models for name matching, transaction monitoring, customer list scoring, watch list monitoring and providing input to the framework for model development. They provide recommendations to improve monitoring systems and capabilities based on identified problems and control gaps.||INR 12,00,000|
|Statistical Assistant||Statistical Assistants are responsible for summarizing findings, creating reports, maintaining databases of statistical information, and storing the hard files of surveys. They also perform administrative duties, such as scheduling, data entry and word processing.||INR 7,00,000|
A semester - wise description of the course’s syllabus is tabulated below.
|Introduction to microeconomics|
|Statistical methods in economics I|
|Mathematical methods for economics I|
|Introduction to macroeconomics|
|Statistical methods in economics II|
|Mathematical methods for economics II|
|Intermediate microeconomics I|
|Intermediate macroeconomics I|
|Economic history of India|
|Introduction to econometrics|
|Intermediate microeconomics II|
|Intermediate macroeconomics II|
|Economy, state and society|
|Indian economic development I|
|Indian economic development II|
|Development theory and experience I|
|Development theory and experience II|