Updated on Jan 21, 2025 05:43 IST

Economics career scope is rapidly increasing in our globalized world. We live in an era where the world has become smaller. There is a vast opportunity for trade between countries. Economics has become an essential field of study to help expand the growth and opportunities in a country.

 Students who choose to pursue a career in Economics can look forward to a fascinating, fulfilling, and stable career with ample opportunities and scope for growth. Economics graduates can pursue a career as a financial analyst, investment banker, policy analyst, business strategist, etc. An Economics course graduate can expect a salary ranging from INR 8–15 LPA. 

Students who complete the BA Economics course can choose to pursue higher education in MA Economics and Ph.D. in Economics. Most students choose to work in MNCs, universities, financial institutions, consultancies, etc. Some of the top recruiters after an Economics course are Cognizant Technology Solutions, McKinsey & Company, KPMG Boston Consulting Services, etc.

Popular colleges where students can study Economics courses are Delhi University, Banaras Hindu University, Amity University, Jamia Millia Islamia, Christ University, etc.

Table of Contents
  1. Economics Courses Career: Quick Facts
  2. Top Job Profiles and Careers for Economics Graduates
    • 2.1 Government & Private Sector Jobs after Economics Courses
  3. Economics Courses: Emerging Trends in Careers
  4. Economics Courses Scope in India: Jobs, Salary, and Further Education
    • 4.1 Core Industries for Economics Career
    • 4.2 Economics Course Careers Top Recruiters
    • 4.3 Courses after Economics Courses
  5. Economics Courses: Top Colleges for Placements In India
  6. FAQs on Economics Career

Economics Courses Career: Quick Facts

  • According to the Bureau of Labor Statistics, U.S. Department of Labor, employment of economists is projected to grow 5 percent from 2023 to 2033.
  • The Bureau of Labor Statistics has projected a demand for 18,400 vacancies every year, by 2033.
  • As per Ambitionbox, salaries of Economists in India vary widely based on experience. Entry-level positions offer ₹2.5-5.0 Lakhs per year, rising to ₹5.0-8.0 Lakhs with 1-3 years’ experience and ₹8.0-12.0 Lakhs with 3-5 years’ experience. Senior economists earn ₹12.0-18.0 Lakhs (5-8 years) and seasoned professionals can make ₹18.0-38.0 Lakhs (8-12 years). On average, economists earn ₹16.2 Lakhs annually, influenced by factors like location and industry.

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Bachelor of Arts (BA) Courses

Master of Arts (MA) Courses

Top Job Profiles and Careers for Economics Graduates

The Economics language is one of the most widely studied subjects across the world. Students can pursue a plethora of job opportunities after completing an Economics course.

Government & Private Sector Jobs after Economics Courses

Students can get a job in both, the government as well as the private sectors after completing an Economics Course. Some of the top careers for economics graduate are listed below

Economics Job Profiles

Job Description

Average Salary

Investment Banker

Provides financial advice to corporates and helps them with acquisitions and mergers.

INR 16.7 LPA

Economist

Analyses and prepares reports for improving the financial situation of a business

INR 16.4 LPA

Actuary

Assess the present financial situation and plans for uncertain financial conditions.

INR 7.5 LPA

Financial Analyst

Creates financial models that could be beneficial for investors and assesses stocks and investments.

INR 5.9 LPA

Stockbroker

Enable the sale and purchase of stocks

INR 2.8 LPA

Note: The salaries given above may vary depending on the companies offering the jobs.

Related Articles:

BA Career Scope

MA Career Scope

Economics Courses: Emerging Trends in Careers

  • Behavioral Economics: Behavioral Economics is the study of consumer patterns and behaviors. It is a growing industry as it allows big corporations to understand their target audience and develop products and services that appeal to this targeted group. This can help companies grow and increase their revenue.
  • Green Growth: Sustainability is a growing concern across the globe. As most governments change their environmental policies, companies are forced to grow more sustainable in their outlook towards growth, but without the cost of hampering their advancement.
  • Technology and Advancement: The advancement in technology has made information accessible at the tip of the finger. This brings a large skill gap between the current workforce and the relevant skills required by companies to grow in an effective manner. 
  • Development of Smart Cities:  Smart cities are equipped with transportation, energy, health, utilities, and governance infrastructures. These cities are essential to enable the growth of the country along with the SEZs (Special Economic Zones), as they boost trade practices and opportunities in society.

Economics Courses Scope in India: Jobs, Salary, and Further Education

There is vast scope for students who wish to pursue a career in Economics. Students can choose to work in the creative industry, in education as well as in the hospitality sector. There are many options for Economics graduates to choose from. Read on to find out more about Economics career scope and opportunities.

Core Industries for Economics Career

An Economics graduate can find themselves working in various industries. The job opportunities are diverse. Students can take a look at some of the commonly chosen job industries for a career in the Economics sector.

Economics Core Industry

Description

Average Salary

Government Organisations

Economists play a major role in the functioning and development of a nation. They address various economic problems, thus improving everyone’s life.

INR 4 LPA

Financial Institutions

Investment companies, credit unions, banks, and insurance companies provide job opportunities to Economics graduates in various job profiles.

INR 4.5 LPA

Corporations

Economics graduates can work in corporations and MNCs. They work to improve the business functions and performance. 

INR 3.5 LPA

Consultancies

Having command over the subject of economics and having good statistical skills can help them use it for consultancy.

INR 13 LPA

Universities and Colleges

Academia is said to provide a large number of jobs to Economics graduates. Those who have completed their master's degree can work as assistant professors, whereas those who have a PhD can work as professors.

INR 15.5 LPA

Note: This information is sourced from multiple sources on the web. Hence, it may vary. 

Economics Course Careers Top Recruiters

The top recruiting companies for students who have completed Economics courses include companies like:

Economics Courses Top Recruiters

Bain & Company

Boston Consulting Services

KPMG

McKinsey & Company

Deloitte Consulting Services

JP Morgan

EY-Parthenon

Morgan Stanley

CRISIL

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Economics Subjects 

Courses after Economics Courses

There are many students who choose to further their education after completing an undergraduate or postgraduate degree in Economics. Higher education opens up a wide horizon of possible career opportunities and helps students develop deeper knowledge and gain practical skills that can help them in the real world.

COURSE

DESCRIPTION

B.Ed

A B.Ed degree equips a student with the necessary skills to enter elementary and secondary teaching positions.

Law

An academic degree that educates students about citizen rights, governance, legal knowledge, etc.

MBA

A 2-year professional management degree that instructs students on business management, administration, and operation.

PhD

A doctorate permits candidates to independently conduct and publish their research.

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Economics Courses

Economics Courses: Top Colleges for Placements In India

There are many colleges in India that offer Economics courses. Some of the top colleges, with the highest average placement packages have been mentioned in the table below:

Economics Colleges

Average Placement Salary 

Indian Institute of Foreign Trade

INR 26.5 LPA

IIT Kharagpur- Indian Institute of Technology

INR 21.28 - 24 LPA

BITS Pilani- Birla Institute of Technology and Science

INR 18 LPA

University of Mumbai 

INR 18 LPA

IIT Bombay- Indian Institute of Technology

INR 17.92 LPA

Xavier School of Economics

INR 17.1 LPA 

IIT Delhi—Indian Institute of Technology

INR 17 LPA

Note: The information is sourced from the official website counseling body and may vary.

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FAQs on Economics Career

Q. To which job profiles does an RBI Grade B Officer get promoted?

A. RBI Grade B Officer can get promoted to various other job profiles. The promotion is based on the officer’s work performance, seniority and internal exams. These job titles as per hierarchical structure of RBI are as follows:

  • Assistant Manager
  • Manager
  • Assistant General Manager
  • Deputy General Manager
  • General Manager
  • Chief General Manager
  • Executive Director
  • Deputy Governor

Q. What is the difference between a Financial Analyst and Investment Banker?

A. The job profiles of a Financial Analyst and an Investment Banker are popular among candidates who have pursued Economics courses. Professionals working in both these job profiles have similar nature of job. However, there are some key differences between a Financial Analyst and an Investment Banker which are as follows:

Financial Analyst

Investment Banker

Analyses and assesses the present financial condition of companies

Advising companies over investment patterns and outcomes

The job profile requires problem solving skills.

The job profile requires mathematical skills.

Works in Firms and businesses.

Works in corporates and can also work with individual clients.

Average Annual Salary: 2 LPA to 11 LPA

Average Annual Salary: 1.9 LPA to 40 LPA

Q. What is the difference between an Economist and an Accountant?

A. The job profiles of an Economist and Accountant are such that they can pursued by candidates who have completed Economics courses. Both these jobs require candidates who possess command over finance, costing and economics. However, these profiles vary on the basis of key job responsibilities and nature of job.

  • An Economist is concerned with the bigger picture of economic framework and patterns. They have a major role to play in the national and international decision making processes.
  • An Accountant has to maintain financial records, prepare business statements and publish reports. They work within the guidelines set by policy makers.

Q. What is Economic Journalism?

A. Economic journalism is a sub-field of Journalism. As the name suggests the field requires candidates who possess the knowledge of both Economics and Journalism. The primary aim of this field is to recognize the issues in the field of Economics and report the problems in order to seek solutions to them. It simplifies the complex economic jargons and explains in a way that could be understood without any background knowledge in the field. A candidate who has completed Economic courses can become and Economic Journalist. The average annual salary of an Economic Journalist is 7.75 LPA.

Q. Are there any Economics Work from Home jobs?

A. In this digital era, where every field is getting digitalized, the field of economics does not stay behind. There are various job profiles that a candidate can pursue in the field of economics in remote or work from home mode. These jobs are flexible in nature and provides the opportunity to look for jobs beyong geographical limitations. Some of these jobs are listed below:

Economics Work from Home Jobs

Average Salary

Content Writer (Business Category)

2.4 LPA - 3 LPA

Subject Matter Expert (Economics)

2 LPA – 2.5 LPA

Online Economics Tutor

3 LPA

Q. How to apply for an internship at NITI Aayog?

A. The full form of NITI Aayog is National Institution for Transforming India. The candidates pursuing undergraduate and postgraduate courses can apply for internship in NITI Aayog under the NITI Aayog internship scheme. Given below is a step-wise procedure that explains the application process from internship at NITI Aayog:

Step 1: Visit the official website of NITI Aayog and go to the Internship Section of the website.

Step 2: Read carefully the “NITI Internship Scheme” and “Instructions to fill the Online Application Form”.

Step 3: Candidates can apply for internships during the first 10 days of every month.

Step 4: Fill in the necessary details and submit the application form.

Step 5: Revisit the website to check the status of acceptance.

Q. What is the highest salary of an Economist in various sectors?

A. The highest salary of an Economist may vary depending on the company. However, the senior level Economists are known to get high salaries based on their experience and expertise in their domain.

Given below are some of the main sectors that provide job opportunities to an Economist, along with the average salary of senior-level Economists:

Sectors employing Economists

Average Salary of Senior Economists (in INR)

Banking

 22.8 LPA

Financial Services

 21.4 LPA

IT Services & Consulting

 16.0 LPA

Management Consulting

 15.4 LPA

Analytics & KPO

 12.8 LPA

Q. What is the difference between a Stock trader and a Stock broker?

A. The job roles of a Stock Trader and Stockbroker are often used interchangeably from the common man’s context. However, these job profiles differ from each other in many aspects such as job responsibilities and primary goals of the job. Stock Traders are like salesmen who buy and sell stocks to gain profit from changes in the market. The average salary of a Stock Trader is INR 3.4 LPA. Stockbrokers are middlemen who work with clients and buy and sell stocks on their behalf. The average salary of a Stockbroker is INR 2.8 LPA.

Q. What are the Group A Government jobs under the Ministry of Finance?

A. Ministry of Finance is an important Ministry under the Government of India. Many Economics graduates aspire to work in various Departments under this Ministry. They can secure Group A jobs under the Ministry of Finance by qualifying for various competitive examinations such as UPSC CSE, UPSC IES etc.

Given below are some of the top services under the Ministry of Finance under which there are various designations:

Ministry of Finance Group A Services

Indian Civil Accounts Service (ICAS)

Indian Information Service (IIS) - Group A

Indian Defence Accounts Service (IDAS)

Indian Economic Service (IES)

Indian Revenue Service (IRS) - Income Tax

Central Excise Service (CES)

Indian Audit and Accounts Service (IA&AS)

Indian Cost Accounts Service (ICoAS)

Popular Exams

Following are the top exams for Economics. Students interested in pursuing a career on Economics, generally take these important exams.You can also download the exam guide to get more insights.

Jun '24

CT SET 2024 Counselling Start

TENTATIVE

Jun '24

CT SET 2024 Result

TENTATIVE

21 Feb ' 25

SAT Registration Deadline for March Test

25 Feb ' 25

SAT Deadline for Changes, Regular Cancellation, a...

Feb '25 - Apr '25

CUET 2025 Application Process

TENTATIVE

Apr '25

CUET UG 2025 Application Form Correction

TENTATIVE

Jun '25 - Jul '25

CPGET 2025 Applications

TENTATIVE

Jul '25

CPGET 2025 Admit Card Release

TENTATIVE

Popular Economics Colleges in India

Following are the most popular Economics Colleges in India. Learn more about these Economics colleges (Courses, Reviews, Answers & more) by downloading the Brochure.
4 Courses
540
7 LPA

#5 The Week

1 Course
23.36 K
6.89 LPA

#8 The Week

7 Courses
38.06 K - 44.67 K
6.6 - 6.89 LPA

#2 Outlook

6 Courses
61.47 K - 74.97 K
9.2 LPA

#1 Outlook

2 Courses
80.61 K
9.5 LPA

#1 India Today

6 Courses
46.55 K
7.2 LPA

#5 India Today

Popular Private Economics Colleges in India

5 L - 16 L
5.5 - 6.6 LPA

Economics Applications open. Apply Now

2 Courses
30 K - 2.7 L
2.58 L - 13.13 L
2.28 L - 4.2 L
7.55 LPA
90 K - 35.85 L
4.0

Economics Applications open. Apply Now

4.5 L
7.55 LPA

Economics Applications open. Apply Now

Popular Economics Specializations

Following are the most popular Economics Specializations . You can explore the top Colleges offering these Specializations by clicking the links below.

Popular Specializations

    Popular Economics UG Courses

    Following are the most popular Economics UG Courses . You can explore the top Colleges offering these UG Courses by clicking the links below.

    UG Courses

    Popular Economics PG Courses

    Following are the most popular Economics PG Courses . You can explore the top Colleges offering these PG Courses by clicking the links below.

    PG Courses

    qna

    Student Forum

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    Answered 4 days ago

    Undergraduate economics programs such as the B.A. (Hons.) Economics at Delhi University accept both mathematics and applied mathematics as long as you fulfil the requirements. According to the DU criteria, the candidate must have completed their 12th grade coursework in mathematics or applied mathem

    ...Read more

    N

    Nidhi Kumari

    Contributor-Level 10

    Answered 4 days ago

    Hi,

    Yes! You are eligible to pursue a career as an Economics teacher if you have completed an M.Phil Economics degree. Though you should consider also pursuing a B.Ed. It will help you increase your chances of securing a job in a school, as most schools prefer to hire teachers with a B.Ed. If you wa

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    M

    Muskan Chugh

    Contributor-Level 10

    Answered 4 days ago

    IGNOU no longer offers an MPhil in Economics degree or an MPhil in any other specialization, as it has been declared invalid by the UGC in 2020. Students can now directly pursue a PhD after they complete their postgraduate degree. Students who wish to continue their education in Economics, after the

    ...Read more

    M

    Muskan Chugh

    Contributor-Level 10

    Answered 4 days ago

    The MPhil Economics degree is a relatively difficult degree. Economics is a challenging subject in the social sciences as it requires strong analytical skills and complex mathematical tools to compile, study, and interpret data and apply it to the real world. The MPhil Economics course is a transiti

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    M

    Muskan Chugh

    Contributor-Level 10

    Answered 4 days ago

    The MPhil Economics degree was primarily a research-based degree that helped students prepare for a PhD in Economics. The major subjects around which students would learn and conduct research were:

    M.Phil in Economics Subjects

    Foreign Trade, Trade Policies of India

    Fiscal Policy and Fiscal Reforms

    Game-Theoretic Models

    Indian Financial System

    Tax Reforms

    Immigration

    Inequality and Poverty

    Green Economics

    M

    Muskan Chugh

    Contributor-Level 10

    Answered 4 days ago

    Students who wish to take up an MPhil Economics course can still pursue it through private institutes where it is still available. The documents that are required for admission to any university for a postgraduate degree like M.Phil include:

    • Class X, XII Mark Sheet
    • Graduation, Post-Graduation Degree
    • Ph

    ...Read more

    M

    Muskan Chugh

    Contributor-Level 10

    Answered 4 days ago

    Before it was discontinued, the eligibility criteria to pursue an M.Phil course required students to complete their postgraduate degree in Economics (MA or MSc Economics) with at least 45-50% marks. The MPhil degree allowed students to explore research in Economics and develop skills that would help

    ...Read more

    M

    Muskan Chugh

    Contributor-Level 10

    Answered 4 days ago

    Hello!

    The M.Phil degree is no longer valid after the University Grants Commission (UGC) of India declared it as discontinued. Students can no longer obtain an M.Phil degree from any government colleges as it is not recognized. However, some private colleges and institutes continue to offer it, and s

    ...Read more

    M

    Muskan Chugh

    Contributor-Level 10

    Answered 4 days ago

    The M.Phil Economics course duration used to be 2 years. Since the MPhil Economics course has been discontinued, the new batches of students can directly pursue a PhD degree after a 4-year degree (3+1 year of research) if they graduate with at least 75% marks and clear UGC NET. 

    M

    Muskan Chugh

    Contributor-Level 10

    Answered 4 days ago

    An MPhil Economics course is an advanced masters-level research degree that is pursued by students after completing a postgraduate degree. Though it has been discontinued by UGC under the NEP 2020, it was a bridge course between a Masters in Economics programme and a PhD in Economics that allowed st

    ...Read more

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    Muskan Chugh

    Contributor-Level 10

    Answered 4 days ago

    Pursuing a Certificate in Economics can be a smart choice for several reasons:

    • An Economics Certificate course can boost your career opportunities. Many roles, such as economic analyst, financial consultant, or market researcher, require a solid understanding of economic principles. This certificate

    ...Read more

    M

    Muskan Chugh

    Contributor-Level 10

    Answered 4 days ago

    There are many reasons why students should choose to pursue a certification in Economics courses. 

    • An Economics Certificate course offers an introduction to the world of economics. It can be pursued by anyone, whether they are a student, a working professional, or someone interested in understanding

    ...Read more

    M

    Muskan Chugh

    Contributor-Level 10

    Answered 4 days ago

    Yes, you can surely learn about the foundations of Economics, its subjects, theories, and its role in society through a certificate-level course, as it allows you to explore the field comprehensively. The Economics courses are structured such that it is easy for students to learn about foundational

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    Muskan Chugh

    Contributor-Level 10

    Answered 4 days ago

    Economics admission in IGNOU is a simple procedure. The students first have to make sure that they fulfill the basic Economics admission eligibility criteria, after which they can fill out the online application form on the official website of IGNOU. Aspirants must select the certification course le

    ...Read more

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    Muskan Chugh

    Contributor-Level 10

    Answered 4 days ago

    Hello!

    Yes, there are many Distance/correspondence colleges that provide certification in Economics as a course. Some of the colleges that are popularly chosen by students have been mentioned in the table below:

    Economics Distance Colleges

    Average Fees

    UPRTOU - U P Rajarshi Tandon Open University

    INR 54,000

    Kazian School of Management,   Miraroad

    INR 5,900

    Indian School of Business Management and Administration

    Note: The fees have been taken from the official website and may vary.

    M

    Muskan Chugh

    Contributor-Level 10

    Answered 4 days ago

    Hello! Yes, there are many Economics courses that are available online for free. You can learn Economics for free, but the certification is paid. Here are some Economics online colleges that provide certification:

    Economics Online Colleges

    Average Fees

    Symbiosis School of Banking and Finance

    INR 2,000

    Nexford University

    INR 6,560

    Education Lanes - A Mahindra Group Initiative

    INR 65,000

    Note: The fees have been taken from the official website and may vary.

    M

    Muskan Chugh

    Contributor-Level 10

    Answered 4 days ago

    The Economics Certificate course is a course through which students can learn about the foundations of Economics. Students will learn introductory levels of microeconomics and macroeconomics, etc. The Economics certificate course duration varies depending on various universities and their curriculum

    ...Read more

    M

    Muskan Chugh

    Contributor-Level 10

    Answered 4 days ago

    The fee structure for both the universities is cumulative of different components, such as security deposit, application fee, tuition fee, etc. HBTU Kanpur BBA tuition fee is INR 70,000. While BBA tuition fee at CSJMU range from INR 36,000 to INR 2.4 lakh. Hence, some of the BBA course offered at CS

    ...Read more

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    Ranjeeta Karan

    Contributor-Level 6

    Answered 6 days ago

    Numerous colleges and institutions in India have integrated economics courses that incorporate undergraduate and postgraduate studies, usually lasting five years. These programs enable students to complete both their bachelor's and master's degrees in a continuous style while offering a thorough und

    ...Read more

    N

    Nidhi Kumari

    Contributor-Level 10

    Answered 6 days ago

    The Test of Mathematics for University Admission (TMUA) tests your mathematical thinking and reasoning skills. LSE made TMUA mandatory for September 2025 entry for two programs: BSc Economics and BSc Econometrics and Mathematical Economics. You can choose to sit the test on the following dates:

    • Test

    ...Read more

    M

    Misha

    Contributor-Level 10

    Answered 6 days ago

    The tuition fee for the BSc Economics programme at LSE is £9,535 (INR 10,27,369) for home students and £34,000 (INR 36,63,404) for overseas students. This is the fee for the academic year 2025-26. The home student undergraduate fee may rise in line with inflation in subsequent years. However, the ov

    ...Read more

    M

    Misha

    Contributor-Level 10

    Answered 6 days ago

    Yes, a mathematics background is necessary to apply for the BSc Economics programme at the London School of Economics (LSE). A-level Mathematics (or equivalent) is mandatory for admission to the program. Further mathematics can be desirable and enhance the application. Alongside mathematics, analyti

    ...Read more

    M

    Misha

    Contributor-Level 10

    Answered 6 days ago

    The application deadline for the BSc Economics programme at the London School of Economics (LSE) is January 29, 2025. It is important for students to submit the applications as early as possible due to the competitive nature of applications at the London School of Economics. 

    M

    Misha

    Contributor-Level 10

    Answered 6 days ago

    Work experience is not a strict requirement for an MSc in Economics at the London School of Economics and Political Science. The admissions committee primarily focuses on academic qualifications, including your undergraduate degree, grades, and standardized test scores like the GRE. So having work e

    ...Read more

    M

    Misha

    Contributor-Level 10

    Answered 6 days ago

    To be accepted into the MSc Economics programme at the London School of Economics (LSE), applicants must meet the following necessary requirements:

    • First class honors degree in economics or equivalent with a concentration in economics and quantitative subjects. 
    • GRE is required for applicants without

    ...Read more

    M

    Misha

    Contributor-Level 10

    Answered a week ago

    Dear Animesh,

    To be considered for admission to the B.A. (Honours) in Economics at Ravenshaw University, you need to have secured a minimum of 50% marks in aggregate in your Higher Secondary (12th) examination.

    However, meeting the minimum eligibility criteria does not guarantee admission, as the univ

    ...Read more

    A

    Ankit kumar

    Contributor-Level 9

    Answered a week ago

     

    Dear Animesh,

    To be eligible for the B.A. (Honours) in Economics at Ravenshaw University, you need to have secured a minimum of 50% marks in aggregate in your Higher Secondary (12th) examination.

    Admission is based on merit, determined by your aggregate marks in the qualifying examination. The unive

    ...Read more

    A

    Ankit kumar

    Contributor-Level 9

    Answered a week ago

    The best place to study economics is at universities like MIT and Oxford, which provide high-quality education and access to leading experts in the field. Additionally, being located in countries like the United States and the United Kingdom offers students valuable networking opportunities and reso

    ...Read more

    R

    Raushan Kumar

    Contributor-Level 10

    Answered a week ago

    MIT has the best economics programme in the world, followed closely by the University of Oxford and Stanford University. These institutions are recognised for their strong academic curricula and research opportunities in economics.

    R

    Raushan Kumar

    Contributor-Level 10

    Answered a week ago

    The United States is widely regarded as the best country for studying economics. It is home to several top-ranked universities, including MIT, Harvard University, and Stanford University, which offer excellent programs and resources for students.

    R

    Raushan Kumar

    Contributor-Level 10

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