Branches of economics and eligibility criteria to study it

What are the branches of economics?

Economics has two branches:

• Microeconomics- It studies the behavior of specific sectors of the economy like companies, industries or households. It states how demand and supply further affects prices, wages, rentals and interest rates.

• Macroeconomics studies a nation or the world's economy as a whole, using data about inflation, unemployment and industrial production to understand the past and predict the future. It studies the economic behavior of large aggregates such as the overall conditions of the economy in relation to total production, total consumption, total saving and total investment in it.

What are the eligibility requirements in this area of study?

• The minimum requirement to start a career as Economists is graduation.

• After graduation an individual seeking a career in the same may go for Post-graduation.

• Further you can do M. Phil/Ph. D in Development studies with major emphasis on Economics.

• Alternately, you can specialize in a branch like Business or Agricultural Economics, Financial Economics, Labour Economics, Industrial Economics, Banking Economics, International Economics etc. which are offered only a few universities

• Some universities have also introduced courses in International Business and Financial Control and Analysis.