Economics is the study of how our society uses its finite resources. In layman’s terms, economics is the study of how we make choices in the face of scarcity and how those choices motivate behavior.
A PhD in Economics is a three-to five-year doctorate program aimed at preparing students for a variety of fulfilling careers, such as Professor, Economist, Statistician, and Equity Research Analyst.
If you too are considering pursuing a PhD in Economics in India, here is all you need to know to start your journey:
PhD in Economics: Course Highlights
Here are some key highlights of the PhD Economics course:
| Particulars | Details |
| Course Name | PhD in Economics |
| Course level | Doctorate |
| Duration | 3 years – 5 years |
| Top PhD in Economics Entrance Exams | LPU NEST, UGC NET, CSIR NET, and GATE |
| PhD Economics Fees | INR 15,000 to INR 1.5 Lakh (Can vary based on college) |
| PhD in Economics Average Salary | INR 3 LPA to INR 8 LPA |
| Top PhD in Economics Recruiters | KPMG, The Economist, Bank of India, IMF, CRISIL, Goldman Sachs, Deloitte, Google, Boeing, TCS. Cognizant, EY |
| PhD in Economics Job Profiles | Professor, Financial Analyst, Investment Banker, Policy Analyst, Business Strategist, etc. |
PhD in Economics Eligibility
Most colleges have similar eligibility criteria for PhD in Economics students. Here is the general PhD in Economics eligibility:
- Qualification: A master’s degree in Economics or a related field from a recognized university or Bachelor’s degree (4 years, including 1 year of research) in Economics or a relevant field from a recognized university.
- Minimum Marks: A minimum of 55% marks in Master’s degree.
- Age Limit: No age limit
- Entrance Exams: Students applying to the doctorate in economics must take entrance exams, such as GATE or the UGC NET. Some universities also have their own entrance exams.
- Interview: Shortlisted student may undergo an interview to assess their suitability for the program.
PhD in Economics Admission Process
Now that you know what the eligibility is for PhD in Economics, here is the detailed admission process for the course. The admission process can generally vary based on the institution. Some PhD in Economics colleges in India may require entrance exam results, while some may also conduct personal interviews or tests to screen the student.
Common steps to apply for a PhD in Economics include:
- Visit the official website of the institution you are interested in and go through all the details of the PhD Economics course offered by the institute.
- Next, fill and submit the application form for the course. Also, ensure to submit the admission fee and required documents on time.
- Some institutions may require the candidate to submit a research proposal along with their application form.
- Once you have submitted the application form, the institute will announce the shortlisted students who need to appear for entrance exams or other admission rounds.
- That’s it. Students who are selected for the PhD program are then assigned a supervisor who will guide them through their academic journey.
PhD in Economics Syllabus
The syllabus for PhD in Economics generally covers subjects like Econometrics, Financial Economics, and Development Economics. The topics in these PhD economics subjects are also aligned with the current developments in the field of Finance and Economics.
Here are some main subjects that are covered in the PhD in Economics syllabus:
- Research Methodology in Economics
- Advanced Econometrics
- Topics in Development Economics
- Advanced Economic Theory
- Econometric Methods
- Topics in Financial Economics
Entrance Exams for PhD in Economics
The most common admission requirements for a PhD economics course are entrance exams, followed by further rounds for selection. Here are some of the common entrance exams conducted for PhD in Economics:
- GATE
- GRE
- UGC NET
- CSIR NET
The economics entrance exam syllabus for PhD typically includes areas like research methodology, microeconomics, macroeconomics, Mathematical Economics, Public Economics, Money and Banking, Indian Economy, and international economics.
Scope After PhD in Economics
The scope after completing a PhD in Economics is vast and diverse, offering numerous career opportunities across various sectors. Here’s an overview of job profiles, salary, and top recruiters a PhD candidate in economics can pursue and get:
Top Job Profiles after PhD Economics
| Job Profiles | Average Annual Salary (in INR) |
| Economist | 4-6 lakh |
| Consultant | 4-6 lakh |
| Advisor | 4-6 lakh |
| Lecturer | 5-7 lakh |
| Management Consulting | 5-7 lakh |
| Professor | 6-8 lakh |
| Accountant | 6-8 lakh |
| Investment Analysis | 7-9 lakh |
Top Recruiters
Many private and government companies hire PhD economics graduates. Some of the top recruiter companies include:
- Bharat Petroleum Corporation Limited
- Future Group
- Grasim Honda Two-Wheelers
- Bank of India, Bharat forge
- Microsoft
- BSNL
- Mahindra Engineering
- Flipkart
- Cognizant
- Infosys
- Reliance Industries Limited
- JCB
- Tata Power
As we conclude, it is clear that a PhD in Economics is the perfect course for those seeking impactful careers. While demanding, it’s a rewarding pursuit for passionate individuals. Carefully consider eligibility, fees, and syllabus requirements to find the best universities for a PhD in Economics.
Ready to advance your economic expertise? Explore PhD programs at Graphic Era University, a leading institution and the best university in Uttarakhand.
