Ph.D Economics

Kripal Thapa

Updated on - Jan 4, 2023

PhD Economics is a doctorate course that deals with the study of applied microeconomics, economic theory, game theory, energy economics, labor economics, and theoretical and applied econometrics. The PhD in Economics duration is 3-5 years. A Doctorate degree in Economics in India prepares students to pursue a variety of rewarding careers including Auditor, Stock Broker, Media Analyst, Actuarial, Lecturer or Professor, Banker, Economists, Geographer, Econometricians, Public Relations Officer.

About PhD Economics Course

PhD Economics full form is Doctor of Philosophy in Economics. PhD in Economics course durations 3-5 years long. According to Wikipedia, “The study of Economics is the study of how people interact with value, particularly the production, distribution, and consumption of goods and services. Economic theory is the study of economic behavior and interactions, as well as the functioning of economies.”

The specialization falls under the umbrella of Ph.D. Students taking PhD Economics courses learn about micro and macroeconomics, international trade, international finance, corporate finance, development and growth theory, economic issues and policy, consumer demand theory, theory of production and cost, problems in data collection, and financial derivatives. Information about PhD in Economics course is available on the official websites of universities and colleges that offer the courses.

In addition to an entrance exam, the curriculum in the PhD in Economics program is semester-based with an annual exam. In the PhD program in Economics, students learn both the theory and the practical aspects of consumer demand theory and the theory of production and cost.

Table of Contents:

• PhD Economics Eligibility Criteria
• PhD Economics Admission Process
• Popular PhD Economics Entrance Exams
• Top PhD Economics Colleges
• Why choose the PhD Economics?
• PhD Economics Fees Structure
• PhD Economics Syllabus and Subjects
• Preparation Tips for PhD Economics
• PhD Economics Salary
• PhD Economics Career Options
• Skills to Excel

Eligibility Criteria for PhD Economics Course 

For admission into the course, students must meet the PhD in Economics eligibility requirements set by the university/college offering the course in order to be admitted to the course. There is no age limit for those interested in a PhD in Economics course. Students applying to the PhD Economics program are required to take an entrance exam, and some colleges also administer tests. Additionally, students must pass an entrance exam at the college level or at the national level in order to apply for the course.

How to Get Admission in a PhD Economics Course? 

PhD Economics admission requirements vary among colleges and universities. To earn a Doctorate degree in Economics, students must meet the PhD Economics eligibility requirements. Admissions can be applied for online or offline. Students who study at universities that offer a PhD Economics degree can earn this degree. Generally, the admission process includes the following components:

How to Apply for a PhD Economics Course?

Students can find more information about the PhD Economics course on the college’s website, as well as how to apply. The college’s website provides online applications for PhD Economics courses. Students are encouraged to regularly check the websites of universities and colleges since their admission process differs from each other. Students may also submit their applications online or in person. Students who wish to apply offline must complete a brochure, an application form, and a visit to campus. Online application forms must be completed, including the attachment of scanned documents. The course fee must be paid after the online application has been submitted.

Selection Process 

A candidate’s final grade determines whether or not they are admitted. Students can apply to colleges only if they are eligible and meet the minimum cutoff score. Students who have been selected to join the PhD Economics program can learn more about their program online at their university or college website. Students receive their final results via email or the college website.

Popular Entrance Exams for PhD Economics 

The PhD Economics degree is offered by a few colleges and universities, depending on their admission requirements. PhD Economics courses are offered by top universities and colleges in India that require entrance exams. By studying the test pattern, students can also succeed at the doctoral program entrance examination. Exams at the state, national, or college level are required for enrollment in the PhD Economics course. Various universities and colleges may have different cutoff marks. Here are some of the most popular PhD Economics entrance exams: 

• JCECE
• UGC NET
• GRE
• GATE
• IIM PhD

A Quick Glance at the PhD Economics Entrance Exams 

Exam pattern and syllabus for PhD Economics should be familiarized before students take the entrance exam. The entrance exams will be easier to pass for students. The format of an entrance exam is usually as follows: 

• There are 50 questions on paper I and 100 questions on paper II.
• Multiple Choice Questions [MCQs] are the type of questions.
• Examinants have 3 hours to complete the test.
• English and Hindi is the language of the question paper.
• The questions will be divided into two papers.
• In the paper, I include common general knowledge questions for all students.
• Paper II includes specific subject-based questions.
• Paper I carries a total of 100 points and Paper II has a total mark of 200.
• Correct answers will be rewarded +2 marks.
• There is no negative marking for incorrect answers.

Top 10 PhD Economics Course Colleges in India 

PhD in Economics duration in India is 3-5 years. PhD Economics colleges all over the country offer these courses. In the PhD Economics course, students learn both the practical aspects of consumer demand theory and the theory of production and cost. PhD Economics colleges in India prepare students for success in their fields. The following are the top colleges for PhD in Economics in India: 

Fee Structure for PhD Economics 

PhD Economics duration and fees differ from other Economics courses available to Indian students. The Doctor of Philosophy in Economics is in high demand compared to other fields. PhD Economics fees in India are quite high when compared to overseas courses. Fees for PhD Economics colleges in India that offer this course are as follows:

Syllabus and Subjects for PhD Economics Course 

PhD Economics full form is Doctor of Philosophy in Economics. PhD Economics duration is three to five years. The PhD Economics syllabus is divided into semesters with a yearly exam. 

Students can choose between core and elective subjects that include advanced economic theory, data collection and organization, probability distribution and testing of hypotheses, econometric methods, topics in mathematical economics, advanced econometrics, advanced microeconomic theory, and advanced macroeconomics theory. Students in PhD Economics courses will learn techniques that will help them in the economic industry. The following topics will be covered in the course:

• Advanced Economic Theory
• International Trade and Finance
• Economics of Planning
• Public Finance
• Theory of Economic Growth and Technical Progress

Read More On PhD Economics Syllabus & Subjects

Why Choose the PhD Economics Course? 

Before choosing a PhD Economics program, many students wonder about the details of the program. A common question students have when choosing a career is, “What is the PhD course?” and “Why choose the PhD Economics course?.” We have summarized the following three pointers to answer this question:

What PhD Economics Course is All About?

PhD Economics full form is Doctor of Philosophy in Economics. The duration of PhD in Economics is between three to five years. The PhD Economics course type is designed for students seeking a deeper understanding of economics through classroom study and practical application. PhD Economics course details are intended for individuals who wish to enter the world of economics, aspire to be self-employed, and wish to contribute to the socioeconomic of India. 

A PhD in Economics prepares students for careers in coaching centers, economics consultancies, economics departments, home tuitions, museums, private tuitions, publishing houses, research and development agencies, and schools.

What Does a PhD Economics Graduate Do? 

Graduate students in PhD Economics are able to choose between a variety of jobs in the public and private sectors. Students studying PhD Economics can use the knowledge they gain from their education to perform better at their jobs. Some of the fields where graduates can pursue their careers are accounting, banking and finance, insurance investment, marketing, management, manufacturing, advertising, communication, and actuarial.

Auditor: An auditor is an official who ensures that financial records are accurate and that companies are in compliance with the laws regarding taxation. Accounting and auditing jobs can have a high salary since their main purpose is to protect businesses from fraud and detect discrepancies in accounting practices.

Reasons Why PhD Economics Course Can Fetch You a Rewarding Career? 

PhD graduates in Economics in India advance in an array of careers in coaching centers, economics consultancies, economics departments, home tuitions, museums, private tuitions, publishing houses, research and development agencies, and schools. Academic institutions and economic consultancies are eager to hire PhD with Economics degrees. Graduates of PhD Economics programs are employed in both the public and private sectors. Some of the fields where graduates can pursue their careers are accounting, banking and finance, insurance investment.

Career Scope and Options: Graduates of the PhD Economics program will likely work in research and development, specializing in rapidly evolving fields of economics and finance. As technology advances, a broader range of skills becomes more valuable. Additionally, students can work at Bank of India, Bharat Forge, Bharat Petroleum Corporation Limited, BSNL, Cognizant, Ericsson India, Flipkart, Future Group.

Read More On PhD Economics Jobs 

Preparation Tips for PhD Economics Course 

Students interested in pursuing a PhD Economics course should prepare well. For students interested in pursuing a PhD in Economics, here are some tips: 

Planning a Study Course: Students can use a study course plan to help them balance their study and their lives. 

Exam Paper Pattern and Syllabus Knowledge: Having knowledge of the exam patterns and syllabus is essential for students to do well in the exams. 

Engage Fellow Students: Help them reduce their stress during the exam period by exchanging knowledge with other students.

Interact with Professors: Professor interactions are a great way to gain insight into course topics. 

Practice makes Perfect: To acquire a deeper understanding of programming and development, students must practice a great deal. 

Journals: The course involves a lot of research-based studies so students can subscribe to weekly journals to keep informed.

PhD Economics Courses salary in India

Graduates of PhD Economics can expect to earn INR 3-10 LPA (Source: PayScale). In addition to their skills and experience, students of PhD Economics' starting salary is paid according to their progress. Because of technology, PhD in Economics are in greater demand. Comparatively, Economics is a relatively high-paying field.

Read More On PhD Economics Salary

Career Options After PhD Economics Course 

Students who complete the PhD program in Economics can pursue a variety of careers. PhD students in Economics gain practical and theoretical skills that can be applied to their careers. PhD Economics graduates are able to find employment in top economics consultancies after obtaining a PhD degree.

The PhD in Economics provides them with additional qualifications that enhance their employability. Graduates of the PhD program in Economics can work as Auditor, Stock Broker, Media Analyst, Actuarial, Lecturer or Professor, Banker, Economists, Geographer, Econometricians, Public Relations Officer, and many more. Doctoral degree holders in Economics may pursue the following careers: 

• Political Scientists
• Consultant
• Financial Consultant
• Advisor
• Accountant
• Senior Research Scientist
• Assistant Professor
• Head of the Educational Department
• Senior Economist
• Senior Market Analyst
• Director of Research and Development

Skills That Make You The Best PhD Economics Graduate 

Graduates of PhD in Economics courses should be capable of being passionate and logical. Good Communication skills that align with the student's interests can also influence their career. In order to advance in their careers, students must develop certain skills without taking an interest in learning. It is crucial for economics students to analyze the economics and finance new approaches. Students who graduate from the doctoral program in economics should have the following skills: 

• Dedicated Skills
• Studious Skills
• Reasonable Skills
• Avid Reader Skills
• Enthusiastic Skills
• Assertive Skills
• Decisive Skills
• Strong Minded Skills
• Passionate Skills
• Interested Skills
• Logical Skills
• Good Communication Skills
• Eager Skills
• Confident Skills
• Strong-Willed Skills
• Determined Skills