Pros and Cons of A Masters in Economics from IGNOU

IGNOU is a great option when it comes to distance education as pursuing any course from IGNOU, whether it is graduation, post graduation or masters, brings you at par with other regular candidates along with the freedom to apply for various exams like UPSC, SSC and IES as it is recognized by UGC-DEB and AICTE. Graduates from IGNOU are also eligible for jobs in both government and private sector making it like any other university without the hassle of actually going to the campus everyday. . Before making any decisions let’s discuss some pros and cons of getting a degree from IGNOU 

Pros 

  1. Less wastage of time and money when it comes to travelling and accommodation in universities since IGNOU is perfect for distance learning. 
  2. This extra time can be valuable for an aspirant who wants to prepare for various competitive exams in the future since distance learning means more learning and less distraction.  
  3. IGNOU can also prove to be cost effective since the courses are affordable. 
  4. You get the same level of educational qualifications as your peers while sitting and studying in the comfort of your home 
  5. Enrolling with IGNOU means you can continue your education even after being a working individual as well. 

Cons 

  1. Lack of guidance from faculties which you would get when you actually go to a campus
  2. Lack of practical knowledge
  3. Less networking 

MA Economics at IGNOU 

 If you’re someone who wants to apply for various economics related exams in future such as UGC NET, IES, SSC and economics optional, an MA in economics can be a fine choice because even though you study at the comfort of your home you’re still eligible for all the exams. An MA in economics can be quite beneficial. Let’s discuss some of the possibilities you have ahead with a MA in economics: 

  1. Education: If you continue your education after MA in Economics, you can go for M.Phil or a PhD and apply for positions like Lecturer/ Asst. Professor in various colleges/ Universities. 
  2. Government Jobs: You can apply for various competitive exams after your economics MA. Exams like RBI DPER and UGC NET require a strong background in economics. You can also take up economics optional when attempting UPSC as your previous knowledge of economics will allow you to get high scores in your optional.  
  3.  Actuary and Data Analysis: You can also be a perfect fit for building a career in actuarial science and data analysis since it requires predicting risks, liability management, mathematics, probability and a combination of skills which a MA in economics can get you ready for. 
  4. Entrepreneurship: An MA in Economics can help you become successful as an entrepreneur because it enables you to possess in-depth knowledge of various economic matters, concepts and principles, making it easier for you to analyze trends in the market.   
  5. Credit Analyst: Credit Analysts, as the name implies, are professionals who assess a person’s or a company’s creditworthiness. They undertake microeconomic evaluations of potential clients to evaluate and identify the risks associated with lending them credit.

6. Market Research Analyst: By utilising the data at hand, a Market Research Analyst seeks to increase a company’s earnings. They do this by closely monitoring and studying market trends to determine which products/services will be the most successful in a specific industry. They use their economics knowledge, as well as their analytical and statistical talents, to solve business challenges using data. 

IGNOU MA Economics study material

While IGNOU does provide you with study material, other resources can be quite beneficial if you want to have a strong base in economics and get the most out of your distance learning programme.Which is why we at Ecoholics provide you with study material especially curated for students who are enrolled with IGNOU. The study material is curated by our team of expert faculties with years of experience so students enrolled with IGNOU can get the much needed help with their assignments and exams. Our study material aligns with what IGNOU offers in their programme along with further assistance for your competitive exams. Signing up with Ecoholics means exploring the world of Economics in multiple ways, through video lectures, live classes, study material and much more.

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