Know the Scope of PhD in Economics and uncover hidden patterns of economic brilliance.
Economics graduates are required in every organization as economists analyze businesses’ financial, market-related, along with economic challenges of organizations. Adding to these, economists make future predictions, make organizational strategies better, formulate business policies and enhance business profitability.
Since economists also support organizations in vital functions like cost and demand analysis, pricing and inventory management, economists are required everywhere, making the scope of PhD in Economics wide and enormous.
In this article, you will get to know all the necessary details of PhD in economics, including the scope of PhD in Economics, career options and job opportunities after PhD in economics, PhD in economics salary, Is PhD in economics worth it and the difference between an MBA and PhD in economics. So let’s begin with discussing the scope of PhD economics.
Scope of PhD in economics
Regarding the employment rate of PhD economists, the unemployment rate after a PhD in economics is negligible; this shows the high-demand nature of this degree. Also, the economists’ employment rate is projected to increase by 6% between 2021 to 2031, which is the highest compared to the other PhD degrees. This data solves the query of those PhD in Economics aspirants who ask, ‘ Is it worth doing a PhD in Economics?’ yes, a PhD in Economics is worth doing.
Career after PhD in Economics
A PhD in Economics becomes so competent and skilful that various research areas, teaching fields, both private and government sectors, welcome the degree holders with wide open arms. Moreover, the PhD in Economics degree makes students dexterous for jobs in various research and development agencies, schools and Universities after PhD in Economics.
Research and development jobs in the sphere of Economics in India have a profitable career and are expected to enhance rapidly. Graduates of the PhD Economics acquire industry-required skills and qualifications that can be utilized in their careers as economic scientists.
Job opportunities after PhD in Economics
The Vastness in terms of the curriculum of Economics and the determination and commitment given by PhD scholars during the period of their research work make the PhD in Economics degree holder so competent that any firm, any college, any research lab etc., happily offers prosperous jobs to PhD degree holders.
We can say that a PhD in Economics degree holder has ample job opportunities in front of them. Jobs as a professor, Auditor, Economist, Banker, econometrician, Industrial Organization Economist, Geographer, Lecturer, Working professional in private and Public consultancies, stock broker etc., are available for PhD in Economics degree holders. Some of the most canonical Job opportunities after PhD in Economics available to degree holders are:
- Assistant Professor
- Political Scientists
- Senior Economist
- Senior Research Scientist
- Financial Consultant
- Director of Research and Development
- Senior Market Analyst
- Head of the Educational Department
A PhD in Economics salary ranges between ₹ 3 Lakhs to ₹ 38.2 Lakhs depending upon the candidate’s experience. Many eligible candidates often face the dilemma and ask, ‘ Which is better, MBA or PhD in Economics?’
It is important for the aspirants to know that both MBA and PhD in Economics are good options to pursue, but both courses lead one to different careers. For example, an MBA opens up career options in business management, whereas a PhD in Economics shapes one career in Research, teaching and various organizations.
Pursuing a PhD degree is highly rewarding, but Pursuing that degree from a University with the goodwill of providing a creditable degree is equally important. One such University is Mahindra University.
Charting the Path to Economic Brilliance: Mahindra University
Mahindra University is a leading University renowned for contributing significantly to Research and development as well as higher learning. The PhD specialization in Economics equips students to conduct and publish their scholarly Research in the Applied Economics field, including Micro and Macro.
The program is designed to make students capable of becoming permanent faculty members and teaching at not only Indian Universities but also global Universities. In addition, the scholars gain the competency to design and conduct impactful Research.
During the research period, students at the University become part of active and vibrant research hubs and work closely with the faculty there. By working closely, students develop a research conduit and publish their work in elite peer-reviewed academic journals.
Unleash your successful career journey with a PhD in Economics
A PhD in Economics is a highly demanding degree in every organization, providing one with a tenure-track career along with a lucrative salary. Wide varieties of job options are available for PhD Economics degree holders. Mahindra University prepares students in the programme for Publishing influential research papers and teaching. So become a PhD in Economics scholar at Mahindra University and Blaze a trail to success.