 All right, so first of all, I welcome you all to such a joint on behalf of the Economics Department, Tetsuya College, for joining this webinar on Career Opportunity in Economics. So first of all, let me just introduce myself. My name is Yumi Yannara Wozikam, and I'm a guest faculty in the Tetsuya College Economics Department, and I would just introduce you to our today's presenter, that is Ms. Lily Chishi, assistant professor, and then, of course, Dr. Devarvata, developing in charge, and then assistant professor. Okay, so before we move on, let me just give you a briefing on all throughout the today's program. So first of all, we will have a PPT presentation by our development in charge, that is Dr. Devarvata, and then he will take us through all this, the purpose of this webinar, and then after that, it will be followed by a short speech by Mr. Shakoy Konnyak, and then he will share with us all his experiences in the college, and of course, regarding the economics as a subject and what he in support the subject of economics, and which will be followed by a Q&A session from the audiences also, and all year, thousands of questions will be answered at the end of the program. So, we have Mr. Adho, I now give the time to serve Devarvata for his PPT presentation. Thank you, Mr. Yamyangar, for giving me the opportunity. Good afternoon, everyone. Good afternoon, sir. Welcome to today's session. Today, I will be talking about the career opportunities in economics, so economics as a discipline first of all, I will introduce the subject. What are the things we study under this particular subject? Then I will be talking about the job opportunities related, associated with this particular discipline. So, this is economics as a discipline. It is about 250 years old subject. And it falls within the paradigm of social science. The first book on this subject was written by Adam Smith in the year 1776, and then the name of the book was the Wealth of Nation. And this is the first book written documents we have on economics. As I told you, it is one of the oldest social science subject and it is the only subject among social sciences where Nobel Prize is awarded. So, what is this subject? This subject, economics, it is a study, this particular subject studies about production, distribution and consumption of wealth in the human society. It studies the behavior of the people, consumers, and how the individuals with a consumer make, be it consumer, producers, we make choice. So, it is a study which helps us to make the best utilization of available resources. Now, why to study economics? Firstly, it deals with scarcity. We all know that resources are scarce. This particular subject helps us to understand the concept of scarcity and how the valuable, limited resources can be used optimally. It helps us to make decision. This subject, the knowledge of this subject helps us to make best utilization of available resources. This subject also teaches how to predict about the future. We all know that our economy is a underdeveloped economy. We have about 20% or 20% people living below poverty line. The job of economists to frame policies and how we can solve this problem. So, the job of economist is to predict the unforeseen, maybe to design policies and by which we can have zero poverty in the country. It studies about choices and trade-offs. Next, I'll be talking about the different branches of economics as we all know that economics is broadly divided into two major branches. That is called microeconomics and macroeconomics. Most of us, we are introduced to these broad branches of economics in our 10 plus two economics subject. So, microeconomics, it is the study about consumer choice. How a consumer or a producer, takes decision. Microeconomics, on the other hand, it talks about national income. It talks about aggregate of economic phenomena. So, microeconomic studies, economic phenomena at a micro level. For example, how price is determined. This is a price is determined for a particular commodity. It is a subject matter of microeconomics. How price level is determined in the economy is a subject matter of macroeconomics. That's inflation is one of the parameters of macroeconomic concept. So does national income, et cetera. Next, we have other branches such as development economics, business economics. So, development economics focus on the development process of low-income countries. And primarily this particular branch of economics studies how we can reduce poverty, inequality, unemployment, et cetera. And there are so many theories that has been developed to study the development process of development and growth process of underdeveloped countries. Business economics, this particular branch is mostly taught to the students of commerce, BBA and MBA. So in this particular branch of economics, we study the application of economic theory and methodology to do business studies. Then we have branches such as environmental economics. It is concerned with the economic impact of environmental policies. We also have international economics and international economics is the study of economic interactions between countries and it addresses issues like international trade, investment, exchange of goods and services in Lementung, export and import of goods among countries. And then we have a specialized branch which is called econometrics. And in econometrics what we do, we use statistics, mathematics, models to verify economic theories. This particular branch of economics is used for custom. Then we have health economics. It is concerned with issues related to efficiency, effectiveness, value and behavior in the production and consumption of health and health sector. We also have health economics, public economics. In case of public economics, we study about government policies through the lenses of economic efficiency and equity. So public economic builds on the theory of welfare economics and is used as a tool to improve. Social welfare. The concepts that are studied within public economies, public economy is government budget, revenue, expenditure, taxation, et cetera. Next we will be talking about the skills that are required to pursue a career in economics. So to be a good economist, one need to possess good knowledge of mathematics. Economic theories are built on mathematical principles. So knowledge of mathematics helps us to understand the concept of economics much better. And yeah, much better. Next skills required to be a good economist is one should be aware of current affairs. It includes social, political issues and the mind to analyze these political, social phenomena. Then one should have inclusive mind. We should have research oriented and should have the ability to relate different aspects of the economy. Then we should have logical thinking. Apart from this, one need to have good communication skills, public speaking, to explain the complicated economic analysis to the general public and also to the people who doesn't know much of economics. Next I will be talking about these stages of higher education. Now, real economics wants to explain Now, real economics wants to, a student encounters real economy when he pursues a course in economic measure at graduation level. So real, the study of real economics begins at graduation level. So one can pursue BA economics or BSA economics. It is usually a three-year course in our country but some of the technical institutes in our country they run a four-year degree course as well such as IITs. Otherwise it is a three-year course and it is spread over six semesters. And in these six semesters as I told you about different branches of economics mostly these branches of economics are taught. Then one can pursue post-graduation, post-graduation it is a two-year degree, MA, MSc. Then we have one can go for research that is an ampoule. In some of the institute it is a one-year or it is a two-year course. And then we have doctorate course which is all once someone pursues a doctorate he gets PhD and it is a three- to five-year course. And then also if anybody is interested they can go for post-doctorate courses as well. So I told you I already explained about BA, BSA and the eligibility for pursuing BA and BSA in economics is class 12 and a student from mainstream can opt for this particular course. MA, MSc as I mentioned it is a two-year degree course and eligibility is BA, BSA in economics, ampoule. For ampoule one need to complete master degree and in some of the premier institute admission is done on the basis of entrance test. And if someone pursues ampoule course he is eligible for fellowship as well. Then we have PhD course as I mentioned it is a three- to five-year course full-time and eligibility is master degree or ampoule and to pursue this particular course government of India, MHRD and UGC they get fellowship and fellowship is quite handsome it's in some of the institute it is 31,000 per month. Then these are some of the premier institute in the country where one can pursue this MA, ampoule or PhD in economics. The premier one is Delhi School of Economics then we have Jawaharlal Neheru University we have ITIDR Mumbai, Jadapuri University, Hyderabad University Madras School of Economics, ISI, Indian Statistical Institute we have in Kolkata, Delhi and recently a branch is also operating from Teshpur University in North East, Assam North East and also we have IITs, some of the old IITs they are providing exceptional course in economics Kanpur, Kharagpur, IIT Bombay and then Madras and also IIT Guwahati and then other institution these are even Indian Institute of Foreign Trade that's located in Delhi and Kolkata are known for their master degree course as well as research course. Now I will come to the job opportunities that are open for an economist. So I categorized into three different headings so one can pursue job in government sector then job in academic institutions and corporate sectors. Let me start with job in the government sectors so one of the prestigious job that is associated with economics is Indian economic service so if somebody wants to join Indian economic service then he or she needs to sit for this particular exam conducted by Union Public Service Commission New Delhi and if someone is selected in this exam then you will be working in this institution this is a government of India not block, not block so basically those who are recruited under this prestigious service they work with different ministries such as Ministry of Finance, Ministry of Commerce and Trade and Ministry of Industries and then starting salary ranges from 70,000 above and above and eligibility is post graduate in economics applied economics or business economics. Next job, prestigious job associated with economics is one can work with RBI Reserve Bank of India, the premier bank in the country the central bank of the country and every year Reserve Bank of India they recruit people and to Reserve Bank of India every year they conduct this exam and to work to appear for this exam one needs to have master degree in economics also people with MPL and PhD are preferred and if one can crack fix he will be working in Reserve Bank of India and the annual salary starts from 12,000 to 14,000 then other jobs that are associated with economics one can be employed as an employment officer and in the union government and the requirement is a graduation in graduation and post graduation in economics apart from that one can also work in NABAR the prestigious bank that works for the development of agriculture and rural development in India so NABAR recruits at two different levels A grade assistant manager and B grade manager for A grade the eligibility is graduation in economics with 50% marks and age is limit is 21 to 30 years and the starting salary is around 60,000 rupees and then for B grade manager the eligibility is post graduation in economics and the starting salary is around 73,000 rupees apart from the mentioned job opportunities all the banks in the country all the commercial banks be it public sector bank or private sector bank they have one post exclusively reserve for economist and the post itself is called economist so you know in India we have many banks and almost we have 22 more than 20 nationalized banks that is all public sector banks and also we have many private banks and over there the number of branches and the operational banks are increasing so there is enough scope for an economics economic student to be absorbed in these institutions then again one more job that is associated with the center government that is statistical investigator and for this particular job as well economic graduates are preferred so if somebody is selected under staff selection commission that is a commission to recruit people they will be working with MOSP and two different specifically two different organization that is called NISO national samples organization and central statistical organization and then as I told you the attribution eligibility is post-graduate degree in economics from university or both and again the salary you can see in the screen it is around 70 to 80,000 per month these are the different job opportunities under central government and then also the type of job and the past it is being displayed now let us come to the job opportunities in Nagaland so one can work as an economic and statistical officer under economics and statistics department government of Nagaland then statistical inspector under economic and statistics department then we have district evaluation officer and planning assistants so these four jobs are exclusively reserved for economic students and the eligibility being MA or BA in economics now if somebody wants to wants to join as a teacher or want to have a career in academics then one can join as a subject teacher also called PGT teacher or post-graduate teacher in the high secondary schools and eligibility is MA with 50% so if you want to be an economic teacher then you have to have MA economics with 50% mark and be at degree now if somebody wants to work in a college then one needs to have an MA degree with 55% marks and he or she needs to pass NET or SLAT exam NET stands for national eligibility test and SLAT state level eligibility test and if somebody dreams of working in a university then he needs to have MA NET SLAT and PhD just to give you a picture of higher education instead institute in the country in India we have about 967 by now I think it is around 1000 higher education institute in the country and most of the universities have economics as a subject so you can understand if you want to work in higher education institutes you have ample opportunities and day by day number of institutes are increasing and in India we have 39,000 colleges and I can assure you that more than half of the institute number of more than half of the college they will have economics as a subject so you can understand the importance of this subject and the job opportunities associated with this particular subject then you can also work as a researcher and you can start as a research assistant project coordinator research associate senior fellow and research fellow and in the bracket I mentioned the eligibility criteria as well and I can tell you that in India we have maximum number of research institutes in social sciences and they are associated with economics some of the premier research institutes in the country are New Delhi this is a research organization okay they provide consultancy services they undertake research projects research project for for clients all over the world then we have a national council of applied economic research then RIS New Delhi Asian Development Research Institute Institute of Development Studies Kolkata Center for Development Studies Trivendrum and these are other prestigious institutes so all these are prestigious research institutes in the country where a student of economics can be recruited and then apart from this government job or in the corporate sector also we have many different many posts for economics economics students so a degree in economics or MA in economics may help you to find may help you to be may help you to get a job as a financial analyst in an organization business analyst, data analyst is senior financial analyst research analyst so these are the jobs associated with economics in the in the corporate sector then if somebody dreams have higher ambition you can also work in this some of the premier financial organization in the world World Bank International Monetary Fund and United Nation so lastly India is known to produce famous economist these are these are some of the famous economist and I want to I want to inform you that two of our economists they were awarded Nobel Prize as well in the year 1999 and recently so Banerjee they have their roots in India and they are they are working their work was related to India so with this I would like to conclude thank you we will have a question and answer session okay thank you very much Sir Teba for your very helpful and insightful presentation so I hope everyone here has benefited a lot and then enhance your knowledge regarding the scope of economics as well so anyway moving on to the next okay we have a short speech from Mr. Shako Iconyak he will share his experiences at the college and then of course regarding this economics subject so I keep the time to you good afternoon everyone first of all I would like to thank the faculty members for giving me the privilege to experience with everyone and secondly I would like to concretely each and every HSSLC pass out students for preparing the exam today I'm here to share my experience in few words well would you believe me if I say that I didn't knew which subject to offer during the last day of admission at college but after I opted for eco in my first year all I was told by everyone was that I had enrolled myself in the toughest course of the university the course indeed was a bit nervous but not that difficult it becomes difficult when we try to caught everything in the last minute my first year experience was the best one and one good score more marks as they are only simple match and statistics provided in second year it was a bit bad for me as it required more diligence lots of practice which I like however third and fourth year they are more easy and understandable thinking about all such experiences and learning I always think about a teacher who have always advised me with a quote the more you try the more you learn and believe me I have learned a lot and I've been shown various scopes or ways to follow these to come so to say my life has been pulled into the right path from a blindfolded illusion living aside when we talk about economics all that comes in our mind is mathematics and diagrams but let me tell you economics do deals with other things too such as day to day currency activities international trade business banking etc lastly but not the least economics have always interest me when it comes to international trade business banking as it help us to update ourselves with current situation all over the world and it has always raised my willingness to learn more but honestly speaking all such things could not have been possible without the effort of teacher who are always ready to help the students in every situation just like their own chat and trust me with the facility provided by the Dezo College which takes place in whole other level which helps us to advance ourselves not only in booking knowledge but also in every activity that we do and the best thing about economics is that it gives you a lot of choice the only thing one need to do is choose one and follow the right step to achieve with this I would like to wind up my sharing and all of this for your future make the right choice good luck and thank you thank you very much Mr. Syapai Konyak so as we come to the end of our program now we will have the time for this Q&A session so I keep the time for the audience for your questions if you guys have any doubts clear if anyone has anything to ask regarding you can either use the message box or you can enter okay I think you are not audible okay please hold on a minute alright please take the next turn alright so he is in law so he wants to know why economics subject is not so popular than the other subject in Naglain okay very interesting question so I think this question has been lingering for a while isn't it because this question has been there since when we were students also you know it has been for quite some time but I think we don't really have the clear cut answer to this but one reason is quite clear that is I think it is because of the fact that this incorporates this mathematics right because just see when students they choose this art stream after geometry calculations right it is because they don't find this science in maths subject interesting right so most of the people what they do is that they have this fear of mathematics or they don't really have this interest in mathematics so economics it involves you know a lot of mathematics that is why maybe that is the reason why people they try to avoid you know applying for this economics subject that is what I think but in real sense to be honest I think economics this mathematics involves you know economics it is not really right because it doesn't really involve this advanced levels of mathematics it just involves this elementary source of mathematics like you know algebra and then calculus and statistics right which are quite very if you just you know understand the concepts and then you know it is very helpful in understanding in detail the theories of economics right so there is also a saying that you know mankind has shared what they don't understand so I think that is one of the reasons to see your questions okay since you know if you're ready with the question then you can try again that's fine so in the meantime if there's anyone that would also like to ask or clear your thoughts please to share your questions Yamiyonga you will take that question or I will take that take this question okay fine sir you take that question okay economics have two main branches micro and micro economics so which one is preferred see it's when you study economics it cannot be knowledgeable and you have you will have entire knowledge of economics by studying only one particular paper so you have to understand that all the papers are related and if you see and there are various paper but then the foundation of economics is micro economics so if you want to do or if you want to make a career and almost all the theories economic theories are built on micro economics so I don't think you can prefer micro or micro or any other branches of economics rather all branches are related yes of course some paper some branches are specialized branch so if you want to if you want to go for a particular like when we go for research or PhD we will focus on one particular topic so if you are thinking of say for example research for PhD then you can of course think of a particular branch otherwise you need to study all the branches fine I think I could answer your question any other question if you have please do type if your voice is not yeah network is not good what will be the benefit of agriculture economics? Yamyanga you want to take it's okay sir you can take agriculture economics it is a part of economics only it is a specialized branch and it studies the different crops and then it is it basically focus on agricultural sector how see we all know that at some point of time our country was a food deficient like our country could not produce enough food grains so this particular branch of economics focuses on certain food grain production and yeah certain food grain production and it's related to how the agriculture productivity can be increased and it also studies about other agriculture related activities such as dairy farming floric cultures and all and also you have to understand in India more than 50% of the people are living in rural areas and their livelihood is dependent on agriculture so in our country if we have to uplift okay so it is very important that we focus on this particular sector and agriculture is one of the branches which focuses on that particular sector okay so this is what I have to say related to agriculture economics anybody else any other questions what are the some special branches of economics so economic is a very dynamic subject okay and it is related with all the other social science subject as well so you can have political economy and then you can have energy economics you can have research economics okay industrial economics so these are these are some of the branches of economics okay special yeah these are all actually when this particular energy economy it is related to the energy sector okay agriculture as I told you related to the agriculture then industrial you have industrial economics you have development economics development development economics is related to the economic development of underdeveloped countries and this there are so many theories that has been developed okay model has been designed how we can develop the underdeveloped countries okay if you have other questions please see commerce study and economics commerce economics and girls entire commerce within it so economics it is the study and practice of how people allocate resources okay and commerce is a specialized branch you can say okay that within the universe of economics and it is a specialist branch you can say and it has different dimensions it looks into the business aspect so if I have to say the business is the art of selling and selling goods and goods and practice of practice how goods and commodities are sold so economics is the universe and commerce is part of it so commerce operate within the periphery of economics this is what I can say so you have any other question this industrial economics deals with industrial economics deals with industries so if I have to give you an example see in India in the 19 after independence we did not had enough enough industries manufacturing units in the country so so the government of India designed designed economic policies the government of India started planning in the country in the planning and then we also have five-year plans and industrial policies so industrial industrial economics deals with it is a study and if we relate to India so it is all about all about studying the industrial phenomena designing economic policies that will help help the growth of industries in the country and this particular branch is related to that and it also evaluates the needs of different industries different type of industries different sectors so this particular study the branch of study branch of economics deals with industry we will cover this so in India the government of India from time to time came up with new industrial policies and the latest being in the year 1990 and thereafter of course we adopted globalization globalization all this is related to the all these policies related to industries all these policies are related to industries and it is a subject matter of industrial economics ok this is an interesting question which branch of economics to opt in masters if wants to pursue career in teaching and in painting now see if you pursue your masters then you have to study different branches of economics you have to study micro you have to study mathematics you have to understand statistics public finance ok so everything so you cannot study one single paper if you want to do your master so masters if you do your masters then you will have 16 paper and then it will cover at least 7-8 branches of 7-8 different branches of economics ok this course is designed so that you have understanding of different economic concepts and then you can relate ok when in later years when you want to develop a career or want to you work in as a government organizations you can relate the concepts that you learn from different branches in painting you can design some policies ok so you cannot do your masters single paper but then rather you have to study multiple papers and if you want to have a career in banking see banking is not only about economics it's more than that so if you want to work in a van you got to have your maths right you have to have your communication good communication skills you have to have good reasoning ability so when you sit for any banking examinations you have to know English good communication English then you should have aptitude for mathematics at least you should be in a position to solve simple mathematics profit and loss something like that calculating interest compound interest all these things and have the good reasoning ability so if you are working in a clock so these are the requirements but if you want to of course the knowledge that you learn from economics in the paper banking and finance it will also help you to understand how a bank works and how a bank functions but if you want to have a career as a bank manager so it is mandatory that you have to clear a paper on banking and then you have to have knowledge about decent economic phenomena you have to understand the functioning of say RBI other financial institution so this part if you have a degree in economics this part you will learn what you do, what you pursue your PG or a graduation in economics but other things such as mathematics and say for example reasoning ability and then knowledge about management these things you have to learn by yourself so just an economics degree may not help you to get a job as a bank manager of course the knowledge that you will be gaining by pursuing a course in economics it will help you 25% of your but other 75% you have to you have to learn by yourself okay now the best university so you have only one good university in Nagaland so it is basically Nagaland University but then in North East if you say what are the good institution in that case I can tell you that we have IIT Bahati and then we have master degree course as well and not exactly in economics but master in development studies you can pursue that course as well and IIT Bahati they do have PhD in economics so somebody wants to wants to study in the North East I think this is one of the premier institute also North East and Hill University is one of good institute and then Nizaron University is also other than Bahati University so these are some of the some of the good institute to pursue higher education or economics in North East I hope I am clear okay so I hope everyone is hello yes you are audible okay so I hope everyone is clear with your answers questions and doubts if there is anyone else that would like to ask any questions SBR, PO, Navard I think it is all depend on your choice okay nowadays banking has become job of a banker is not that easy I am sure you must have seen people maybe you have family members working in bank as a PO so it is not that easy banking over its status something 8 in the evening 9 something like that so if you are talking about the life okay then I think central government job under SSC that is much better because mostly this central job it is for 9 to 5 job and I think that is much better than maybe SBI, officer PO and Navard also it is not that easy the jobs are good but then working our work and then now there is some stress associated so that is the problem it depends on your choice what do you want otherwise central government job is much better thank you any other question any more further questions from the audiences okay so it seems that there are no further questions from the audience right okay so if there is no further questions then we will just wind up here and so I thank you all for attending this short webinar for these curious opportunities in economics and hopefully all of us is benefited from this session alright and once again I congratulate for two stocks students who have just passed out to class 12 and I wish you all the best in your future endeavors so thank you so anything that you would like to add no I just want to thank everyone for attending the webinar I think this webinar will help them to make their choice to choose economics that's all okay alright thank you all I wish you all a good day and have a great time