An economist works to understand how money, markets, and resources function in an economy. In India, economists analyse statistics and economic trends to advise governments, businesses, and organisations. They help design policies related to inflation, employment, trade, and economic growth.This career offers opportunities in government agencies, research institutions, financial organisations, consulting firms, and international bodies.Who Is an Economist?An economist studies economic theories and uses statistical tools to understand financial and market trends. Their work involves analysing data, forecasting economic changes, and advising organisations on policies and business strategies.Economists work in sectors such as finance, public policy, research institutions, consulting firms, and international organisations.Step-by-Step Guide to Become an Economist1. Complete Class 12Students should complete Class 12 from a recognised board. Studying Mathematics, Economics, or Commerce in school can be helpful.2. Pursue a Bachelor’s Degree in EconomicsAfter Class 12, students should pursue an undergraduate degree such as:BA in EconomicsBA (Hons) EconomicsBSc EconomicsBCom or Business EconomicsAdmission to many central universities is through the Common University Entrance Test, while some universities conduct their own entrance exams.3. Complete a Master’s Degree in EconomicsA postgraduate degree improves career prospects. Popular options include:MA in EconomicsMSc in EconomicsMCom in Applied EconomicsStudents interested in research or teaching often pursue a PhD in Economics.Top Government Colleges for EconomicsSeveral reputed institutions offer strong economics programs, including:Delhi School of EconomicsJawaharlal Nehru UniversityMadras School of EconomicsIndira Gandhi Institute of Development ResearchGokhale Institute of Politics and EconomicsThese institutions are known for strong academic training and research opportunities.Important Skills Required to Become an EconomistStudents interested in economics should develop the following skills:Analytical and critical thinkingData analysis and statistical skillsKnowledge of economic theoryResearch and report-writing skillsCommunication and presentation skillsEconomists often work with large datasets and economic models to study trends and make predictions.Career Opportunities for EconomistsAfter completing economics courses, graduates can work in different sectors. Common job roles include:EconomistPolicy AnalystFinancial AnalystResearch AnalystData AnalystConsultantTop recruiters include organisations such as Reserve Bank of India, HDFC Bank, Deloitte, and McKinsey & Company.Many economists also work with international organisations such as the World Bank and the International Monetary Fund.Salary of EconomistsThe salary of an economist depends on education, skills, and experience.Entry-level: ₹3–5 LPAMid-level: ₹7–12 LPASenior-level: ₹20 LPA or moreOn average, economists earn around ₹6 LPA, while experienced professionals can earn significantly higher.Economics is a promising career for students interested in finance, public policy, and data analysis. By pursuing a bachelor’s and master’s degree from reputed institutions such as University of Delhi or Jawaharlal Nehru University, students can build strong career opportunities in government, research, and corporate sectors.Economists play an important role in shaping policies related to inflation, employment, trade, and economic development.
