MA Economics vs MA Political Science

Choosing a specialized area of study at the postgraduate level is a crucial decision because it defines the career you decide to chart out for yourself. Most BA graduates find themselves at a crossroads – thinking about which subject to choose among a wide array of options available. This blog aims to simplify your confusion down a notch by helping you choose between two popular choices among many PG students – MA Economics vs Political Science. Both degrees offer unique opinions and perspectives on issues concerning the country in general. However, their study focus is different, among several other things.

We hope that you will be able to opt for the most appropriate subject to specialize in after reading this blog.

What is MA Economics?

Let us begin by defining the course. A Master of Arts (MA) in Economics is a postgraduate degree offered for a total duration of two years. The program is designed to offer students detailed insights into finance coupled with management concepts to enable them to assume leadership and managerial roles in the sector. 

What is an MA in Political Science?

An MA in Political Science, on the other hand, is more focused on political theories, systems, and institutions, preparing students to work in local, national, and international political arenas, as per their interests and career goals. The program is also a postgraduate degree of two years offered to enthusiasts in the world of politics and current affairs. 

Course curriculum: MA Economics      

When choosing between MA Economics and Political Science courses, it helps to take a deeper look at the curriculum design of the program to better understand its study focus. Let us take a look below at the core subjects taught as part of the MA Economics course curriculum. The two-year course is divided into 4 semesters and covers the following subjects:

Semesters	Subjects taught
1 (First year)	Macro Economics, Mathematics for Economics, Micro Economics, Statistics
2 (First year)	General Equilibrium and Welfare Economics, Open-Economy Macroeconomics Optional papers– Public Economics, Agricultural Economics, Econometrics, Financial Economics
3 (Second year)	Development and Growth TheoryIndian Economic Policy Optional papers– International Finance and Banking, Economics of Education, Rural Economics, Time Series Analysis, Quantitative Finance
4 (Second year)	Environmental Economics I, International Trade Optional papers– Industrial Organization, Monetary Economics, Computer Application in Economics, Environmental Economics II, Games and Information

Course curriculum: MA Political Science

We looked at the course design for Economics. It is important to review the syllabus for MA Political Science courses to make an informed choice in Economics vs Political Science Master’s degrees.

The two-year PG program is offered over 4 semesters lasting 24 months. Shared below is the course curriculum of MA Political Science courses:

Semesters	Subjects taught
1 (First year)	Major Ideas and Issues in Public Administration, Political Theory, Interpreting Modern India, Indian Government and Politics, Comparative Politics: Concepts and Methods
2 (First year)	Politics in India, Western Political Thought, Environment & Climate Change, International Politics: Theory and Issues, Political Sociology of India
3 (Second year)	Governance and Public Policy in India, Modern Indian Political Thought, India’s Foreign Policy, Research Methodology, Theory and Practice of Democracy
4 (Second year)	Indo-Pacific Emerging Trends, Dissertation and Viva Voce, Gender and Politics, International Political Economy

Careers after MA in Economics

One of the best ways to understand the differences between MA Economics and Political Science courses is the career avenues both these programs unlock for the students. The potential job opportunities that each of the courses offers to graduates enable them to make an informed choice.

Listed below are some of the top careers that you can pursue after completing an MA in Economics:

1. Economists: They conduct thorough studies on statistics and economic data, analyze the data, and interpret the latest trends to forecast changes, if any.

Average annual salary (approx): INR 11,71,394 per annum

2. Data Analyst: They are responsible for gathering, evaluating, and deriving valued insights from data to help organizations make informed decisions.

Average annual salary (approx): INR 6 lakh per annum

3. Financial Analyst: They conduct research on the latest trends in the finance industry, develop financial models, and communicate with the concerned stakeholders. 

Average annual salary (approx): INR 5.6 lakh per annum

4. Statisticians: They employ statistical and mathematical techniques to gather, organize, interpret, and summarize numerical data for offering useful information to clients.

Average annual salary (approx): INR 4,48,000 per annum

5. Market Research Analyst: As the job title suggests, they use data to help companies understand where they stand in the market. They also devise improvised marketing campaigns for the companies and their products for effective sales and promotion.

Average annual salary (approx): INR 4 lakh per annum  

Careers after MA in Political Science

Graduates with an MA in Political Science are also eligible to apply for a wide array of top roles in the government and public sectors, some of which are listed below:

1. Diplomats: They are responsible for developing and maintaining healthy relations with international countries through travel.

Average annual salary (approx): INR 1,40,97,963 per annum

2. Public Administrator: They supervise and manage all programs and services offered by the government to the general public.

Average annual salary (approx): INR 24 lakh per annum

3. Political Campaign Manager: They monitor all campaigns undertaken by a specific political party or government to ensure that all marketing campaigns are aligned with the common objective.

Average annual salary (approx): INR 9.5 lakh per annum

4. Political Analyst: They offer consultation and advisory services on significant political matters to research agencies, government officials, civic organizations, and political parties.

Average annual salary (approx): INR 9.15 lakh per annum

5. Legislative Assistant: They support lawmakers and legislators in tasks such as legal services, drafting of legislation, and issuance of publications.

Average annual salary (approx): INR 4,25,041 per annum 

MA Economics vs MA Political Science: What you should choose

This blog detailed what each course – MA Economics or MA Political Science – entails. The MA Economics or Political Science choice can be somewhat tricky with both specializations quite popular among BA graduates and holding immense scope for the future. This is why we highlight below the key parameters to look out for when choosing between MA Economics and MA Political Science courses:

Key parameters	MA Economics	MA Political Science
Study focus	Macroeconomics, econometrics, and environmental economics	Comparative politics, public administration, public policy analysis, political theory
Course curriculum	Microeconomics, economic development and policy in India, macroeconomics	Electoral politics, political economy, social and political theory
Career prospects	Market Research Analyst, Economist, Financial Consultant	Public Administrator, Political Campaign Manager, Political Advisor

Conclusion

The choice of specialization for your Master’s degree should be based on your academic interests, background, and career objectives, in addition to the salary packages earned after getting a job in the domain. 

This blog aims to highlight the key differences between an MA in Economics and an MA in Political Sciences to help you make an informed decision regarding your future career path. If you do opt for advanced studies in Political Science after carefully considering all the parameters detailed in this blog, an online MA in Political Science from Sikkim Manipal University is an ideal choice.

The university offers the program on the Online Manipal platform to students and working professionals alike over 2 years. The course is specifically designed for aspirants and enthusiasts in the political arena, with a keen interest in both national and international political scenarios. 

Sikkim Manipal University offers UGC-entitled degree programs, both at the undergraduate and postgraduate levels, in several disciplines. The university is accredited by NAAC and its degrees enjoy global recognition in various industries and sectors.