BCom Specialisations: Business Economics, Public Economics And Their Scope

Welcome to the world of BCom with a twist! If you've completed your Class 12 with commerce and are eager to explore unique specialisations beyond the conventional subjects like Accounting and Finance, Economics, Marketing, and Banking and Insurance, we suggest you keep reading and find out what’s in store.

This article is about distinctive BCom specialisations and the colleges that offer BCom programmes tailored to these fields. So, discover the scope and potential of these specialised fields.

Scope Of Business Economics

When pursuing a specialisation in Business Economics, there are numerous career opportunities that await you in the future. With a strong foundation in both business and economics, you can explore a wide range of career paths in various industries. Following are some of the potential career prospects wherein one can apply one’s knowledge and skills of Business Economics to make a career and contribute to economic decision-making, business growth, and overall organisational success.

Here are some of the popular careers you can consider after completing graduation in business economics

>> Financial Analyst: Financial analysts study financial statements, economic trends, industry performance, and market conditions to evaluate the financial health and performance of an organisation. They assess various financial metrics, such as revenue, expenses, profitability, liquidity, and debt levels, to gain an understanding of the company's financial position. Based on their analysis, they provide recommendations on investment opportunities, mergers and acquisitions, financial planning, and capital budgeting.

>> Management Consultant: A management consultant is the one who provides expert advice and assistance to organisations in improving their performance, efficiency, and overall business operations. They work on projects that involve analysing an organisation's structure, processes, and operations to identify areas for improvement. They provide recommendations and strategies to address the identified challenges or seize opportunities. Additionally, they also provide guidance on various aspects of the business, such as operational efficiency, organisational structure, market expansion, cost reduction and technology implementation etc.

>> Market Research Analyst: Market research analysts gather and analyse data to provide insights and guidance to companies or organisations regarding market trends, customer preferences, and competitive landscapes. They play a crucial role in helping businesses make informed decisions and develop effective marketing strategies. They help companies understand their target market, competitors, and consumer behaviour, enabling them to develop effective marketing strategies and stay competitive in their respective industries.

>> Economic Consultant: An Economic consultant is a professional who provides expert advice and guidance to businesses, organisations, or government entities on various economic matters. They apply economic principles and analytical techniques to help clients make critical decisions and solve economic challenges. They primarily deal in economic analysis, policy evaluation, market research, cost-benefit analysis, financial analysis and economic forecasting, thereby shaping economic policies, guiding investments, and promoting sustainable economic growth.

>> Data Analyst: This profession includes collecting, processing, and analysing large sets of data to uncover insights, patterns, and trends that can help businesses make important decisions. Data Analysts work with various types of data, including numerical, textual, and visual, and further use analytical tools and techniques to extract meaningful information out of them. They play a crucial role in transforming raw data into meaningful insights that drive business success.

>> Business Development Manager: Business development managers are proactive, result-oriented individuals who possess strong communication, negotiation, and problem-solving skills. They are responsible for identifying and creating new business opportunities. They play a crucial role in driving the growth and expansion of the organisation. Their primary responsibilities include researching and analysing market trends, identifying potential clients or business partners, developing strategic plans to penetrate new markets, negotiating contracts, and fostering strong relationships with key stakeholders. Moreover, they also collaborate with internal teams to develop and implement effective sales and marketing strategies.

>> Policy Analyst: A Policy analyst specialises in analysing and evaluating policies and their impact on various stakeholders. They work in government agencies, think tanks, research organisations, and other policy-related institutions. Their main role is to conduct research, gather data, and assess the effectiveness of existing policies or propose new policy recommendations. They analyse social, economic, and political factors to determine the potential consequences and implications of policy decisions.

The scope of career prospects in Business Economics extends across various industries. It plays a significant role in understanding the economic forces that shape business environments and enables individuals to make informed decisions to drive business success and contribute to overall economic development. With the right skills and experience, one can carve out a successful and rewarding career in this field.

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Institutes offering Business Economics

> Name of the college/university - Modern College of Arts Science and Commerce

Location - Pune, Maharashtra

Duration - Three years

Eligibility - Must have passed HSC or equivalent with English as passing subject and possess original and attested photocopies of Leaving Certificate from previous institutions, mark sheet of the previous year, cast certificate duly verified in case of reserved candidates, migration certificate in case of candidates from other universities and gap certificate if there is a discontinuity in education.

Admission process - Interested students (domicile of Maharashtra) can fill the admission form and wait for the cut-off list. Admission to candidates from other states will be granted based on the availability of vacancies and in accordance with the eligibility criteria set by Savitribai Phule Pune University, Pune.

Fee* - Rs 39,000

Website - moderncollegepune.edu.in

> Name of the college/university - Sanjeev Agrawal Global Educational University (SAGE University)

Location - Bhopal, Madhya Pradesh

Duration - Three years

Eligibility - Must have passed Class 12 with Maths/Commerce as one of the subjects from a recognised board and have scored at least 50 percent marks in aggregate in the final examination.

Admission process - Admissions to various programmes in the SAGE University are based on the entrance examination conducted by the university itself. Students seeking admission must register online and fill the online application form after paying Rs 1,600. Final merit list is prepared based on the marks obtained by the students in the entrance test.

Fee* - 1.2 lakhs

Website - sageuniversity.edu.in

> Name of the college/university - Upendranath College

Location - Soro, Odisha

Duration - Three years

Eligibility - Must have passed Class 12 or equivalent from a recognised board.

Admission process - Admission is based on the marks obtained in Class 12. Interested students can fill the application form either online or offline.

Fee* - Rs 2.20 lakhs

Website - uncollegesoro.com

Scope Of Public Economics And Planning

Public Economics and Planning offer promising career prospects for individuals interested in the intersection of economics, policy-making, and urban development. Apart from Policy Analyst and Economic Consultant (already discussed above), here are some potential career paths and opportunities in this field:

>> Government Economist: As a government economist, one can work in various government agencies at the national, state, or local level. This role involves analysing economic data, assessing public policies, and providing recommendations to promote economic growth and development. Their work is instrumental in shaping economic policies, driving sustainable growth, and addressing economic challenges within a country or region.

>> Urban Planner: Urban planners focus on the development and improvement of cities and urban areas. They work with government agencies, private firms, and non-profit organisations to design and implement plans for land use, transportation, housing, and sustainable development. They focus on creating and developing sustainable, functional, and aesthetically pleasing urban environments.

>> Research Analyst: A research analyst is a professional who conducts extensive research and analysis to gather information, interpret data, and provide insights and recommendations to support decision-making and strategic planning in various fields. Research analysts are found in diverse industries, including finance, market research, consulting, healthcare, technology, and many more. Their roles and responsibilities may vary depending on the industry and specific job requirements, but primarily, they deal in conducting research, data analysis, market and industry analysis, report writing, forecasting and predictive analysis etc. Research analysts play a crucial role in supporting evidence-based decision-making, strategic planning, and informed business strategies across various sectors.

>> Non-Profit and International Organisations: Public economics and planning professionals can also find opportunities in non-profit organisations, international development agencies, and multilateral institutions. These roles involve working on projects related to economic development, poverty reduction, and sustainable growth etc.

The scope of Public Economics and Planning offers a wide range of career opportunities in government, research, consulting, urban development, and even academia, allowing individuals to make a significant impact on economic policy and urban planning initiatives.

Institutes offering BCom (Hons) in Public Economics and Planning

> Name of the college/university - Ranchi University

Location - Ranchi, Jharkhand

Duration - Three years

Eligibility - Must have passed Class 12 or equivalent from a recognised board with at least 50 percent marks in aggregate.

Admission process - Eligible students can apply online by registering themselves and filling the university’s application form after paying the registration fee. Further, the university will release the merit list.

Fee* - Rs 6,750

Website - ranchiuniversity.ac.in

*It’s the total tuition fee. Other fee components may get added upon admission. Do get the full fee details by contacting the university.

Specialisations in Business Economics and Public Economics and Planning offer unique opportunities for students to delve into specialised areas of economics and understand economic principles, policy analysis, strategic planning and many more that open doors to diverse career paths. The scope of these specialisations is vast, with prospects ranging from government agencies and consulting firms to financial institutions and research organisations. As the world of business and economics continues to evolve, pursuing these specialised BCom programmes can pave the way for a successful and fulfilling career in the dynamic and changing economic landscape.