Economics for overall development

Under Pure Economics, students have to deal with in-depth knowledge about the theories regarding Economics, while Applied Economics is to implement or apply those theories in practical sectors.

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SANGITA SHRESTHA
Money matters a lot to everyone and with the right decision while handling financial matters, it can bring satisfaction in life. Moreover, the subject Economics is one such academic faculty incorporated in the Humanities and Social Sciences streams than enhances the knowledge regarding national and international economic scenario.

Since 1959, Tribhuvan University (TU) has been offering under graduate and graduate programmes in Economics, while Kathmandu University (KU) under School of Arts has started the under graduate programme in Economics from 2013. Colleges like Patan Multiple Campus and Golden Gate International College (GGIC) has been offering both undergraduate and graduate programmes affiliated to TU.

About the course
Economics through Humanities stream is the core subject including Pure Economics and Applied Economics. About this Babu Ram Karki, Programme Head of Economics at GGIC informs, “Under Pure Economics, students have to deal with in-depth knowledge about the theories regarding Economics, while Applied Economics is to implement or apply those theories in practical sectors.”

While talking about the difference of studying Economics through Humanities stream Karki adds, “Studying Economics through Humanities stream is that it enhances the student to know about the policies of the economic sector and while implying those policies, one becomes competent about analysing and judging the overall impact of that decision on society.”

Moreover, about the difference between studying Economics in different faculties, Tara Prasad Bhusal, Lecturer at Patan Multiple Campus shares, “There are two ways of studying Economics — vertical or parallel. In parallel, studying, in faculty besides Humanities, only certain tools of Economics are taught, while students have to go through the core matters of Economics in Humanities faculty having a separate discipline for the course going vertical.”

Sanu Maya Maharjan, who did her MA from Patan Multiple Campus elaborates, “To know the overall economy of the country, income source, expenditure, national and international trend and more, you need to study Economics, where it teach us about the balancing act of the overall economic sector from microeconomics to macroeconomics level.”

Duration and eligibility criteria
In TU, the undergraduate programme is of three years and graduate programme of two years, while the undergraduate programme at KU is of four years semester-based. To study undergraduate programme at GGIC affiliated to TU, student completing +2 from any faculty can enrol in the course while for the graduate programme, the student can be from any faculty who has completed undergraduate level but has to complete 300 marks programme of Economics or Mathematics. At Patan Multiple Campus, those who have completed +2 level from any faculty and undergraduate from any faculty can opt for undergraduate and graduate programme respectively.

Career prospects
As the discipline of Economics covers a vast area, the career prospects for the students are also huge where one can have the capabilities of analysing and implementing the resources while starting something that involves finances or resources.

Talking about professional ventures, Bhusal elaborates, “In every sector economy plays a vital role in the growth of that sector where the students after their studies can opt to work as data analysts, civil servants, researchers, counsellors in various organisations, the banking sector and much more.”

He further says, “It seems that like other popular courses, Economics does not look market-oriented and as the incorporation of Mathematics and Theories makes the discipline tough, most of the students hesitate to opt for the course. But realisation for the need of knowledge on Economics, mostly for Master’s level professionals from banking sector, engineering sector and more choose to study Economics.”

Agreeing with Bhusal, Sahdev Chand student of MA Ist Tear at GGIC and employee at bank as computer engineer adds, “I realised the need of studying Economics after getting employed at the bank and the core function of the bank I work in is research and analysis of economical sector. So to be at the core function, I am studying Economics.”

Another student Khadga Parajuli of MA IInd year at GGIC says, “One can be economic planners, develop economic policies and execute them as well being in various governmental and non-governmental sectors.”

Addressing the areas of Economics, Bhusal opines, “Economists are the ones who have the knowledge of total technical and allocative efficiency in an organisation which helps in economic welfare of society.”

Challenges
Elaborating on the challenges while studying Economics Karki shares, “The students who are weak in English and Mathematics will have a hard time studying Economics as the materials are all in English medium. Meanwhile there is lack of experts in the field of Economics and the number of students who enrol for the subject are also less as compared to other subjects.”

While Chand adds, “There needs to be more assignments and practical work in comparison to theories and there needs to be an update in the syllables where we are still studying the Economic Revolution of 1980’s of developed countries.”However, according to Bhusal, the syllables was updated in 2066 BS according to contemporary theory and issues.

Cost
GGIC
Undergraduate: Rs 1,59,000 overall
cost of 3 years course

Graduate: Rs 1,50,000 overall cost of 2 years

Patan Multiple Campus
Graduate: Rs 12,000 per year for 2 years' course

source:Shrestha, Sangita (2013),"Economics for overall development", The Himalayan Times,12 March 2013

2013-03-12 | EducateNepal

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