Overview
Economists analyse data on production, consumption, prices, trade, and policy to advise governments, central banks, financial institutions, and consultancies. India's economist demand is anchored by the RBI (Department of Economic and Policy Research), Finance Ministry, NITI Aayog, the rating-agency ecosystem (CRISIL, ICRA, India Ratings, Care Edge), economic research at investment banks (Citi, Goldman, JP Morgan, HSBC, Standard Chartered), the World Bank / ADB / IFC India offices, and academic / think-tank roles (NCAER, ICRIER, IGIDR, NIPFP, Brookings India, Observer Research Foundation). The role combines quantitative rigour, policy understanding, and clear writing.
Day-to-day responsibilities
Build and maintain macroeconomic and sectoral forecasting models; analyse high-frequency data (CPI, IIP, PMI, trade, fiscal, monetary aggregates); write daily / weekly / monthly research notes for clients or internal stakeholders; prepare research presentations and policy briefs; respond to media queries on economic developments; track RBI and Finance Ministry communications; participate in client meetings and conferences; contribute to industry reports and policy submissions.
Skills required
- Econometrics (time-series, panel data, IV estimation)
- Macroeconomic modelling (DSGE, VAR, structural)
- Statistical software (Stata, R, EViews, Python)
- Microsoft Excel / Power BI for data visualisation
- Knowledge of Indian economic data sources (CMIE, RBI Database, MoSPI)
- Policy analysis and report writing
- Bloomberg / Refinitiv terminals
- Public speaking and media communication
Education path
BA / B.Sc Economics (or BA Economics Hons) is the standard entry path, followed by MA Economics or M.Sc Economics from Delhi School of Economics, JNU, Madras School of Economics, IGIDR, ISI Kolkata, IIT Kanpur Humanities, IIT Bombay HSS, Ashoka University, Azim Premji University. PhD strongly preferred for senior research and academic roles. UPSC Indian Economic Service (IES) is a parallel government pathway. CFA + economics combination is common in BFSI research.
Career progression
- 1Economic Analyst (0-3 yrs)
- 2Senior Economist (3-7 yrs)
- 3Lead Economist (7-12 yrs)
- 4Chief Economist / Head of Research (12-18 yrs)
- 5Group Chief Economist / Director (18+ yrs)
Top employers in India
Useful certifications
- MA / M.Sc Economics
- CFA Levels I-III
- UPSC IES (Indian Economic Service)
- PhD in Economics (top-tier roles)
- Diploma in Applied Econometrics