Well, I write this article witnessing two of the greatest modern day miracle that has unfolded in front of my very disbelieving eye. So, it can now be assured that “Trumponomics” has prevailed. And it is going to be the mantra followed by the United States during the tenure of Mr. Donald Trump as the Commander in Chief of the White House.  

Image result for donald trump economics
Donald Trump, the now president-elect of USA, speaking on his econmic policies at the Detroit economic club.

The other miracle if I can say so, is the virtue by which Reserve Bank of India in alignment with the Indian government brought about the bold decision to devalue their currency with immediate effect. These important events do have a rippling effect on economies around the world. And the repercussion of these two events can be deciphered through the tools of Economics.

The previous article talked intensively about the importance of economics and the need of economist. In this article, I would like to elaborate about the possible pathways that can be taken by any scholar to have an expert knowledge on the field of economics.

For starters, I would like to begin with serving the list of Top 10 Universities catering the service of Economics programs.

Top 10 Universities of Economics Worldwide

RankName of InstitutionLocation
1Massachusetts Institute of Technology (MIT)United States
2Harvard UniversityUnited States
3Stanford UniversityUnited States
4Princeton UniversityUnited States
5University of California, Berkeley (UCB)United States
6University of Chicago
United States
7London School of Economics and Political Science (LSE)United Kingdom
8University of OxfordUnited Kingdom
9Yale UniversityUnited States
10University of CambridgeUnited Kingdom
*Based on the QS World University Rankings by Subject 2016




Top 10 Universities of Economics in Asia

RankName of InstitutionLocation
1Tel Aviv UniversityIsrael
2University of JerusalemIsrael
3University of TokyoJapan
4National University of Singapore (NUS)Singapore
5Shanghai Jiao Tong UniversityChina
6Singapore Management UniversitySingapore
7Cheung Kong Graduate of BusinessChina
8Korea UniversityKorea
9Tsinghua UniversityChina
1oPakistan Institute of Development EconomicsPakistan
*Based on Research Paper in Economics (RePEc) ranking 2016


Having listed out some of the elite universities, there are some criteria that must be obliged by International students who wish to pursue their further studies in these aforementioned Institutions. International students must be proficient in both written and spoken English. Also, they must appear for English proficiency test. These are some of the tests and minimum scores that are required to be eligible for further studies in these universities.

  • International English Language Testing Service (IELTS) academic test with a score of 7.0 in all four components (in one exam sitting only).
  • Cambridge Certificate of Proficiency in English (CPE) with grade C or better or 185 points overall and a minimum of 185 points in each individual component.
  • O level (1120 Brunei, 1125 Mauritius A, 1127 Singapore) grade B or better.
  • Pearson Test of English Academic (PTE) – academic test with a score of 65 in all four components (in one exam sitting).
  • TOEFL IBT (Internet-based test)- At least 107 overall with a minimum of 25 in each of the four components (in one sitting only).

Upon the completion of these English tests and after finishing both legal and financial duties, then only can a scholar be eligible to continue their pathways of becoming a successful economist. Different institutes have different course structures that are being followed. Generally elite universities follow the following course structure throughout the duration of this course.

  1. Introduction to General Economics

  1. Principle of Microeconomics
  2. Principle of Macroeconomics
  3. Game Theory
  4. Contract Theory
  5. Behavioural Economics
  1. Industrial Economics

  1. Health Economics
  2. Economics and E-Commerce
  3. Organizational Economics
  1. Statistics and Econometrics

  1. Data Analysis
  2. Statistical Methods in Economics
  3. Time series analysis
  4. Applied Econometrics

These are some of the courses that are being taught in these institutions.

Apart from these, it is mandatory in some of the aforementioned organizations to participate apprenticeship programs in the final year of an Undergraduate program.

The main objectives behind apprenticeship for the students is to get practical knowledge. Then apply theories and principles that were being taught in the four corner of the walls in real-life scenario. Moreover, it aims to prepare young undergrads for future challenges.

Therefore, these are some of the pathways that can be followed if one wishes to pursuit Economics as their major in higher education. It is such a tragic situation whereby a demanding and practical course such as economics does not exist in the curriculum of Nepalese education system. But the light at the end of the tunnel is that there are alternate ways to pursue the dream of being an Economist.


Cover Image : The Global Economic Outlook: Overview WORLD ECONOMIC FORUM/swiss-image.ch/Photo Moritz Hage