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The Scope of BA Economics in India

Pursuing an education in BA Economics can help a student choose a career in diverse areas such as banking, insurance, trade, and many others.

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Career Opportunities in BA Economics in India

Long gone are the days when students got sceptical about whether they should take Economics under BA or not. Earlier, students often took Science or Commerce under societal pressure and ignored the stream BA. But the scenario is quite different today.

Currently, the subject has gained a reputation not just within the country but also across the world. Pursuing an education in BA Economics can help a student choose a career in diverse areas such as banking, insurance, trade, and many others.

Though mostly students earlier used to pursue Economics under B.Com, many students who are not interested in Mathematics take Economics under BA.

Students who have pursued BA in Economics can achieve good positions and earn a handsome salary package in India. If you want to know the curriculum and what all subjects are taught in it, you can check this page.

Some of the best organizations in the country, such as Accenture, HCL Services, Brainfuse, and others, offer good job opportunities to students with a BA economics background.

Career Opportunities in BA Economics

Here are some of the outstanding career opportunities that students can have after pursuing education in BA Economics.

Career Opportunities in BA Economics

1. Indian Economic Service:

One of the most acceptable options for pursuing a BA in Economics is to crack the IES exam. It is the Indian Economic Service, after which the candidates get designated at different positions such as planning board, economic affairs, sample survey, and others. This exam comes under the UPSC exam.

2. Budget Analyst:

This particular person looks after the most prominent part of a business that is budget. A budget analyst not just prepared the budget but also analyses it.

3. Economist:

An economist is someone who is hardcore from the field of Economics. Students who are willing to become an economist need to pursue Masters in Economics too. The Reserve Bank of India also selects economists by conducting an entrance exam that a student can appear for.

4. Market Analyst:

As the name suggests, a market analyst analyses the market happenings and then offers different ideas to the company.

5. Research Analysts:

The role of a research analyst is almost similar to a market analyst. The only difference is that a research analyst also analyses many other happenings and offers suggestions.

6. Business Writer:

A business writer can be associated with a media house to generate articles and blogs on different business-related happenings.

7. Business Reporter:

If a student is interested in the media world, he/she can also become a reporter after pursuing a BA economics education.

8. HR Manager:

While many companies will prefer to have someone from an MBA background to handle his profile, many other companies may consider a BA Economics student for this position. An HR manager’s role is to take candidates and understand different policies and financial matters related to the candidates.

Market Analysts

9. Operations Manager:

A candidate from the background of BA Economics also can get a job option as the Operations Manager of a company.

10. Project Manager:

Handling an entire project is not an easy task. There should be someone who does not just know the process but also about the financial, demand and supply, and other methods. Hence, someone who has a background of BA in Economics is an excellent choice for this position.

11. Consultant:

Candidates can become consultants to provide economic consultancy to companies in place of working for a particular company.

12. Forecaster:

A forecaster is someone who checks and analyses past and present data and trends to analyze customer behaviour, the demand of a product, and other elements and predicts what can happen next. Based on such predictions, companies make arrangements and get ready for the upcoming happenings.

13. Business Lawyer:

If the student has pursued BA Economics and wishes to enter the field of law, he/she can do so by further pursuing BA LLB. One of the advantages that a student gets is the specialization as he/she can conveniently become a business lawyer.

14. Cost Analyst:

Costing is a significant element in any business. A cost analyst analyses the present market and other trends to offer a picture of what has to be done ahead.

15. Investment Administrator:

An investment administrator has a significant role in investment companies. They handle the accounts of the investors, create portfolios, and others.

16. Customer Profit Analyst:

This is a very innovative position that is now highly in demand in companies. The customer profit analyst checks out different types of customers from the past and presents records to analyze which customers are profitable.

17. Regulatory Affairs Analyst:

Most companies have a regulatory affairs analyst who takes care of the regulatory deadlines and related activities. They work closely with the compliance officers so that the company does not have to face any trouble in the regulatory division.

18. Banker:

Candidates can also serve as bankers in different positions in Indian or any of the international banks. They can become a bank manager or a development officer. Many candidates can also get into a much higher position, such as an investment banker.

19. Actuary:

An actuary is a crucial part of any business team. It is the person who analyses several financial and other elements to predict any threats or risks in the future. An actuary can be said to be a person who prepares the team for any upcoming threats and is responsible for risk management activities.

There are many other career opportunities as well after completing BA economics in India. On average, someone who has a background in BA Economics can have a decent start and can have an initial salary package of 1.5 lakhs per annum to 2 lakhs per annum. The salary package increases according to the candidate’s position and the company in which the person is joining. The salary package can go up to 14.8 lakhs per annum and more.

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Blockchain

Can Tokenization of Asset Bring More Investment From the Masses

Tokenization of assets isn’t a new phenomenon, but unlike the waves in the past STOs, this time, it might tip the balance in favour of decentralized finance.

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Ripple Cryptocurrency

In a new article, Coindesk has predicted that the Cryptocurrency’s DeFi sector is set to see a resurgence of Security Token Offerings (STOs) and has predicted “a sixfold increase in the total dollars raised using such funding methods over the next four years.”

Tokenization of assets isn’t a new phenomenon, but unlike the waves in the past STOs, this time, it might tip the balance in favour of decentralized finance. The article further predicted that “more private companies will bypass traditional initial public offerings (IPO) and instead use blockchain technology to digitize the capital-raising process.”

Although traditional capital markets and venture capital firms have ceded some prime money-making to DeFi, doing away with conventional IPOs might be a significant first step to democratizing venture financing.

Past the debacle of early blockchain ICOs, where the process by which a company ICOs was easy, but the lack of related regulations within the US and abroad around ICOs had led to many fraudulent crowd sales, illegal airdrops, and outright scams. This, in turn, had tarnished the reputation of blockchain-based projects. However, tokenizing assets and either fiat-backed or cryptocurrency backed by gold and silver have dramatically increased confidence in the crypto-asset markets.

The tokenization of assets that represents a real tradable asset, in reality, is quite similar to the process of securitization. An STO, with increasing frequency, is also used to describe a share in a company, ownership of a piece of real estate, or participation in an investment fund. These security tokens are also tradeable on secondary markets.

The new token economy offers to open up the investment world making it more transparent, efficient, and fair. The simplicity of tokenization will also help in reducing the friction surrounding the creation, purchase, and sale of securities.

In addition, it will bring several advantages for both buyers and sellers that will include:

1. Increased Liquidity of the Market:

The tokenization of illiquid assets in private hands, specifically art, real estate, and the likes, will significantly boost the market’s liquidity. Not only will it make it possible to liquidate the illiquid assets partially, but the ability to trade the security tokens in the secondary markets will also increase the trading activity bringing with it a broader base of traders and investors.

The “liquidity premium” alone makes it worthwhile to tokenize illiquid assets capturing more excellent value for the underlying assets.

Small Size Businesses Here is What You Need to Know About Cyber Security

2. Making Transactions Faster and Cheaper:

The intelligent contracts attached with the tokens and their automated execution upon the meeting of coded terms in the smart contract will mean automation and lack of administration of much cheaper transactions. The buying and selling of the security tokens will require lesser intermediaries, faster deal execution and lower transactional fees.

3. Increased Transparency:

Since a security token is also essentially a smart contract, it can be embedded with the owner’s responsibility and rights. The fact that records on a blockchain are immutable searches, provenance and trading history would be a cinch. The entire chain of ownership rights, responsibility, and origin of the security token will be entirely transparent.

4. Greater Accessibility:

Most importantly, tokenization could open up the investment world to a large audience. The high liquidity, market movement, lower investment amounts, and shorter periods required to hold the token can make the token economy to the average investor. Like the ticket divides an illiquid asset, the tokens themselves are readily divisible into smaller and smaller fractions enabling even a small investor to participate in the token economy.

With automated workflows and cheaper and cheaper processing costs, and token administration, the minimum investment amounts will fall further. This will also increase liquidity allowing investors to hold the investments for shorter periods before cashing in. The trading is made even more robust due to secondary markets that operate 24/7.

5. Easier Asset Conversion:

With the DeFi market making the conversion of crypto assets into fiat currency more readily available, the same will become true for security tokens. By providing greater liquidity to an average investor that often shies away from investment into illiquid assets due to fear of the lengthy process of conversion of an illiquid asset into a liquid one.

If anything, the strong emergence and success of the DeFi market have shown us that making finance decentralized, transparent, and easily accessible will bring in more investors, not less, and lead to the market’s democratization.

In conclusion, the advent of a token economy will lead to a more transparent, liquid, accessible, and just financial and investment system that will serve more and more people via financial products and investment opportunities for all.

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