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Education Plus
Why Economics shines
Unlike most parts of this country and around the globe, in Chennai, economics education at college level has remained least performed in the recent past. The misnomer about this discipline, such as difficult to pass, more descriptive, etc., subdued the benefits such as improves the reasoning ability, communication, etc. However, a noticeable change in this order of preference did emerge last year and for sure will continue this year, as more are keen in opting economics major. Economics, once regarded as terse, abstract and theoretical, is now put into an objective frame. Economics science is a fascinating social discipline as it touches every activity of the individuals, institutions and the Govt. Economics theories offer convincing account of the behaviour of human beings either in isolation or in a society under different conditions. The present-day economic science has in it several aspects of commerce, banking, trade, management and psychology, well complemented by modern quantitative techniques. This unique feature places the learners of economics on a wider platform with reference to higher learning or career planning.
The refinements that have been made through inclusion of many subjects such as Financial economics, Human resources development, managerial economics, multinational and trans-national economics, marketing and sales promotion strategies, insurance, international economics and so on and fine-tuning the course work transformed economics education to provide the cutting edge for learners in search of a field for higher study and gainful job as well. A graduate in economics, besides being eligible to take up postgraduate in the same, can move on opting PG course in management science (MBA), social work, human resources development (MHRM), computer related disciplines (MCA, MSc.IT, etc.) and commerce with the background of maths and accounting papers. Further, it gives the advantage of pursuing cost and chartered accountancy.
The trend in corporates is also changing in favour of economic graduates. Last year, the placement drive conducted in several colleges and in campus selection had draft in looking for graduates in basic sciences and economics in humanities. The HR experts who are involved in this exercise observe that candidates with economics background get into the groove fast and it is easier to train them than others from different streams.
The graduates and post-graduates in economics stand a preferred batch for international trading and banking institutions, especially, for their data based analysis and policy making divisions. Those, who have strong foundations in economic theories in the realm of multinational trade and business, are regarded most appropriate for studying and tracking the key parameters of the nations. As economics learning trains the mind logically and empowers the learners with the ability of processing the data and making suggestions for policy, they are in good demand for jobs relating to investigating consumer behaviour for marketing strategies of big companies.
With the unfolding of new dimensions in financial sector and international business across the globe, it is expected that the demand for money managers will expand in the coming years.
S. NARASIMHAN
Principal of D.G.Vaishnav College, Chennai
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