Ph.D Economics: Salary, Eligibility, University, Admission, Entrance

Ph.D. Economics is a doctoral course of a minimum of 3 years and generally extended up to 5 years, which is pursued after M.Com in Economics. Ph.D. Economics is the highest academic qualification in the field of Economics. The Ph.D in Economics helps in answering complex economic questions using models, data, and rigorous analytical methods. The course includes coursework followed by research work.

The Eligibility criteria for Ph.D. Economics includes having cleared a Master's degree or a 4-year bachelor's degree in Economics /Agricultural Economics/Population Studies or any other equivalent examination from a recognized University with a minimum of 55 - 60% (75% for Bachelor's degree) aggregate marks. The course fee for Ph.D. Economics in government and private Universities ranges from INR 50,000 – INR 1,50,000/ Year.

Some of the famous colleges offering a PhD in Economics are BITS Pilani, NMIMS, IIM Bangalore, Shiv Nadar University, MIT World Peace University, and Lovely Professional University are among the well-known colleges in India that offer a Ph.D. in Economics. Upon completing a Ph.D. in Economics, a doctorate holder can secure a job as a postdoctoral fellow, Research Scientist, or Assistant Professor, or an Investment Banker, with salaries ranging from INR 6 LPA to INR 12 LPA for fresh graduates.

Ph.D. Economics Key Highlights

The important details of Ph.D. Economics are summarised in the table below:

What is a Ph.D. Economics?

Ph.D. in Economics is a doctorate-level course of a minimum of 3 years but can be extended up to 6 years or more, depending on the college norms. A Ph.D. in Economics is about equipping students with the advanced theoretical and quantitative skills necessary to conduct original, publishable research.

The Ph.D. in Economics is available in many specializations such as Labor Economics, Development Economics, Public Economics, Financial Economics, Industrial Organization, International Economics, Behavioral Economics, Health Economics, Environmental Economics, Econometrics, and Economic History.

Why should one study for a Ph.D. Economics?

The reasons and benefits of pursuing a Ph.D. in Economics are stated below:

• A Ph.D. in Economics is for anyone curious about how economies really function and who wants to explore the big picture. It’s a deep dive into understanding what drives markets, policies, and decisions.

• If you enjoy working with numbers, solving real-world problems, and analyzing data, a Ph.D. in Economics will feel like a natural fit. It sharpens your skills in logic and quantitative thinking.

• The degree is essential if you want to become a professor or a full-time researcher. It gives you the foundation to teach, publish, and guide economic thought.

• With a economics PhD , you can influence real policies that affect people’s lives. It gives you the tools to create evidence-based solutions to complex problems.

• The degree can lead to leadership roles in finance, development, or global policy. It's for those who want to make an impact with ideas and research.

Who should pursue a Ph.D. Economics?

The individuals who fall into the following category or have the below-mentioned qualities are best suited to pursue a Ph.D. in Economics.

• If you’re the kind of person who always wonders how the world economy really works and wants solid answers, a Ph.D. in Economics could be for you.

• When you enjoy working with numbers, noticing patterns, and tackling big challenges, a Ph.D. in Economics might be a great fit.

• If you want to teach, research, or work in a place where your ideas related to world economics matter, then a Ph.D. in Economics makes a lot of sense.

• For those who care about shaping policies or making a difference on a bigger scale—not just for one company—a Ph.D. in Economics opens that door.

• If you’re okay with putting in long hours, love learning new things about the impact of policies on the world economy, and pursuing a Ph.D. in Economics could be the right path.

Ph.D. Economics Eligibility Criteria

The Eligibility Criteria for a Ph.D. in Economics include:

• A Master's degree or a 4-year bachelor's degree such as M.A in Economics /Agricultural Economics/Population Studies or any other equivalent examination from a recognized University with a minimum of 55- 60% (75% for Bachelor's degree) aggregate marks.
• A 5 % relaxation in the cutoff is offered for the reserved categories.
• Have cleared National Level Entrance tests such as UGC NET, GATE, CSIR NET, ICMR or college-specific tests.

Ph.D. Economics Entrance Tests

The details about the Entrance tests for Ph.D. Economics are given below:

Ph.D. Economics Colleges

Provided below are some of the well-known colleges that provide Ph.D. Economics. Let’s have a look at them:

Ph.D. Economics Admission Process

The admission process for the PhD Economics may vary depending on the college type. Given below is the step by step admission process for the LPU, Phagwara.

Step 1: Register on LPU Admit and fill out the admission details such as Name, Number of marks in the qualifying exam, Email ID, Mobile No., State, Gender, and Password, etc. The email ID given will act as a Username, while the password can be set by you.

Step 2: Appear for LPU NEST by filling the form and payment of the test fees, which is INR 1000 for soft copy and INR 1500 for print.

Step 3: After receiving your password in the mail, log in to LPUadmit and deposit the initial payment of INR 10,000.

Step 4: After the successful payment, a provisional registration number will be sent. Complete the admission process by uploading the required documents.

Step 5: The admission is confirmed after the successful verification of the documents by the University and payment of the balance fee.

Documents Required

• Recent Photograph
• Matriculation Marksheet
• Qualifying exam Certificate/ Marksheet.
• Address Proof

Ph.D. Economics Syllabus

The Ph.D Economics syllabus can vary depend on the institute type. However, the research methodologies and coursework will be same. Given below is the PhD in Economics syllabus for the Jamia Millia Islamia is given for your reference:

• The Ph.D. Economics is usually divided into two types of study: 1) Coursework 2) Research. The coursework includes the following subjects:

• The Research Scholars have to show their research work progress in regular presentations and summarize their research in a thesis before getting the degree.

Ph.D. Economics Jobs

The Ph.D. Economics graduates get various opportunities to build a career in academia by joining teaching, in the research field as research scientists in industries or Research Institutes.

The salary and job roles after a Ph.D. D Economics, according to the work experience, are mentioned below:

Ph.D Economics and Ph.D. Finance Comparision

The comparison between the courses Ph.D Economics and Ph.D. Finance is given below:

Ph.D. Economics FAQs