Saurav Anand
Table of Contents
PGDM Economics and Organizational Behaviour Overview
PGDM Economics and Organizational Behaviour is a specialized program that combines the principles of economics and organizational behavior to provide a comprehensive understanding of how economic factors and human behaviour interact within the context of business organizations.
Economics is the study of how individuals, organizations, and societies allocate resources to meet their needs and wants. In the context of a PGDM program, the study of economics focuses on the application of economic theories and concepts to make informed business decisions. It involves analyzing market conditions, understanding supply and demand dynamics, studying consumer behavior, and evaluating economic indicators to assess the overall business environment. Economic principles are used to guide strategic decision-making, pricing strategies, market research, and financial analysis in organizations.
Organizational Behaviour, on the other hand, is a field of study that explores the behaviour of individuals and groups within an organizational setting. It examines how people interact, communicate, and behave in the workplace. The study of organizational behaviour aims to understand factors that influence employee performance, motivation, leadership, teamwork, and organizational culture. By gaining insights into human behavior within organizations, managers can effectively manage teams, develop leadership skills, enhance employee engagement, and create a positive work environment.
A PGDM program in Economics and Organizational Behaviour combines these two disciplines to equip students with a well-rounded understanding of business dynamics. PGDM Economics and Organizational Behaviour program curriculum typically includes courses in microeconomics, macroeconomics, managerial economics, organizational behaviour, human resource management, leadership, and related subjects. Students learn how economic principles affect business decision-making and how organizational behaviour impacts individual and group performance within organizations.
Upon completing a PGDM in Economics and Organizational Behaviour, graduates can pursue various career paths. They may find opportunities in roles such as economic analysts, market researchers, management consultants, human resource managers, organizational development specialists, and leadership trainers. They can work in a wide range of industries, including finance, consulting, marketing, human resources, and research organizations.
Overall, a PGDM Economics and Organizational Behaviour program offers a blend of economic analysis and understanding of human behaviour in organizations, preparing students for managerial roles that require a deep understanding of both disciplines.
PGDM Economics and Organizational Behaviour Highlights
The highlights of a PGDM Economics and Organizational Behaviour may vary depending on the specific institution offering the program. However, here are some common features and eligibility criteria associated with such programs:
- Duration: The duration of a PGDM Economics and Organizational Behaviour is typically 2 years, divided into four semesters. However, the duration may vary depending on the institution.
- Eligibility Criteria: The eligibility criteria for admission to a PGDM Economics and Organizational Behaviour may include the following:
o A bachelor’s degree in any discipline from a recognized university or institution.
o Minimum percentage or CGPA requirement (often ranging from 50% to 60%, depending on the institution).
o Some institutions may require candidates to have relevant work experience, although this may not be mandatory for all programs.
- Entrance Exams: Many institutions require candidates to appear for management entrance exams such as CAT (Common Admission Test), XAT (Xavier Aptitude Test), GMAT (Graduate Management Admission Test), or MAT (Management Aptitude Test). The scores obtained in these exams are often considered during the selection process.
- Selection Process: The selection process for a PGDM Economics and Organizational Behaviour typically involves multiple stages, including:
o Written Test: Candidates may be required to take a written test to assess their aptitude, analytical skills, and knowledge in areas such as economics, management, and organizational behavior.
o Group Discussion (GD): Shortlisted candidates may participate in group discussions where they are evaluated on their communication skills, leadership abilities, and teamwork.
o Personal Interview (PI): Candidates who perform well in the written test and GD are called for personal interviews. The interview aims to assess their suitability for the program based on their academic background, work experience (if any), career goals, and personal qualities.
- Curriculum: The curriculum of a PGDM Economics and Organizational Behaviour program typically includes a mix of core courses and electives. Core courses may cover subjects such as microeconomics, macroeconomics, organizational behaviour, human resource management, managerial economics, leadership, marketing, finance, and strategic management. Electives allow students to specialize in areas of their interest, such as advanced economic theory, industrial economics, negotiation and conflict resolution, organizational change, or human resource development.
- Internship and Projects: Many PGDM Economics and Organizational Behaviour require students to undergo a summer internship or complete industry projects to gain practical exposure and apply their knowledge in real-world settings. These experiences provide students with valuable insights into the practical aspects of economics and organizational behaviour within organizations.
- Placement Opportunities: Institutions offering PGDM Economics and Organizational Behaviour program often have a dedicated placement cell that assists students in securing employment opportunities. Graduates of a PGDM Economics and Organizational Behaviour can explore career opportunities in various sectors, including consulting firms, financial institutions, research organizations, multinational corporations, government agencies, and non-profit organizations.
It is important to note that the specific details regarding the program’s highlights, curriculum, eligibility criteria, and selection process may vary among different institutions. Therefore, it is advisable to refer to the official websites of the institutions offering the PGDM Economics and Organizational Behaviour for accurate and up-to-date information.
PGDM Economics and Organizational Behaviour Admission Process
The admission process for a PGDM in Economics and Organizational Behaviour may vary among different institutions. However, here is a general outline of the typical admission process:
- Application: Candidates interested in pursuing a PGDM in Economics and Organizational Behaviour need to fill out the application form provided by the institution. This form usually requires personal and educational information, work experience (if applicable), and contact details.
- Entrance Exam: Many institutions require candidates to appear for management entrance exams such as CAT (Common Admission Test), XAT (Xavier Aptitude Test), GMAT (Graduate Management Admission Test), or MAT (Management Aptitude Test). Candidates are required to register for these exams separately and provide their scores to the institution as part of the application process.
- Shortlisting: Based on the applications received and the entrance exam scores, institutions shortlist candidates for the next stages of the selection process. Shortlisted candidates are typically informed through email or the institution’s official website.
- Written Test: Shortlisted candidates may be required to take a written test, which assesses their aptitude, analytical skills, and knowledge in areas such as economics, management, and organizational behaviour. The written test may consist of multiple-choice questions, essays, case studies, or other relevant formats.
- Group Discussion (GD): Candidates who perform well in the written test are usually invited to participate in a group discussion. In a GD, a group of candidates is given a topic to discuss, and their communication skills, leadership abilities, teamwork, and problem-solving skills are evaluated.
- Personal Interview (PI): Shortlisted candidates who successfully clear the written test and GD are called for a personal interview. The interview panel assesses the candidates’ suitability for the program based on their academic background, work experience (if any), career goals, personal qualities, and their understanding of economics and organizational behaviour.
- Final Selection: After considering the performance of candidates in the written test, GD, and PI, the final selection is made. The institution prepares a merit list based on various criteria, including entrance exam scores, academic performance, work experience, and performance in the selection rounds. The selected candidates are notified of their admission offer.
- Document Verification and Admission: Once candidates receive an admission offer, they are required to complete the document verification process. This usually involves submitting original documents, such as academic transcripts, entrance exam scorecards, identity proof, and other relevant certificates. Candidates need to pay the admission fees and fulfill any additional requirements specified by the institution to secure their admission.
PGDM Economics and Organizational Behaviour Eligibility Criteria
The eligibility requirements for a PGDM Economics and Organizational Behaviour program may vary among institutions. However, here are the general eligibility criteria that are commonly followed:
- Education Qualification: Candidates should have a bachelor’s degree in any discipline from a recognized university or institution. The degree may be in fields such as economics, business administration, commerce, engineering, humanities, or social sciences. The minimum duration of the bachelor’s degree program is typically three years, although some institutions may accept candidates with a two-year bachelor’s degree under specific circumstances.
- Minimum Percentage/Cumulative Grade Point Average (CGPA): Most institutions have a minimum percentage or CGPA requirement for eligibility. This requirement may vary, but it is typically around 50% to 60% in the candidate’s undergraduate degree. Some institutions may have a relaxation for candidates from reserved categories (such as SC/ST/OBC).
- Entrance Exams: Many institutions require candidates to appear for management entrance exams such as CAT (Common Admission Test), XAT (Xavier Aptitude Test), GMAT (Graduate Management Admission Test), or MAT (Management Aptitude Test). The scores obtained in these exams are considered during the selection process. Candidates must check the specific entrance exams accepted by the institution they are applying to and meet the required cut-off scores.
- Work Experience (if applicable): Some institutions may prefer or require candidates to have prior work experience, typically ranging from 0 to 2 years. Work experience is considered as an additional qualification and can add value to the candidate’s application. However, work experience may not be mandatory for all institutions offering the program.
- English Language Proficiency: Since the program is taught in English, proficiency in the English language is essential. Candidates may be required to provide proof of English language proficiency through tests such as IELTS (International English Language Testing System) or TOEFL (Test of English as a Foreign Language). However, this requirement.
PGDM Economics and Organizational Behaviour Syllabus
The syllabus for a PGDM Economics and Organizational Behaviour can vary across institutions. However, I can provide you with a general outline of the subjects typically covered in each semester. Keep in mind that the specific courses and their order may vary. Here’s a sample syllabus for a two-year PGDM program:
First Semester:
- Managerial Economics
- Microeconomics for Managers
- Organizational Behaviour and Leadership
- Quantitative Techniques for Management
- Financial Accounting and Analysis
- Business Communication
- Business Environment and Policy
- Managerial Computing and Information Systems
Second Semester:
- Macroeconomics for Managers
- Human Resource Management
- Marketing Management
- Financial Management
- Business Research Methods
- Managerial Computing and Information Systems
- Operations Management
- Legal Aspects of Business
Third Semester:
- Industrial Economics
- Managerial Decision Making
- Organizational Development and Change Management
- Consumer Behaviour and Market Research
- Corporate Finance
- Strategic Management
- Managerial Computing and Information Systems
- Electives (e.g., Negotiation and Conflict Resolution, International Business, Entrepreneurship, etc.)
Fourth Semester:
- Advanced Economic Theory
- Organizational Leadership and Team Management
- Managerial Ethics and Corporate Governance
- International Business Environment
- Business Analytics
- Managerial Computing and Information Systems
- Electives (e.g., Innovation Management, Supply Chain Management, Cross-Cultural Management, etc.)
- Dissertation/Project Work
Please note that the specific course names and their order may differ across institutions. Additionally, elective courses can vary based on the institution’s offerings and student preferences. It is advisable to refer to the official website or prospectus of the institution you are interested in for the most accurate and up-to-date information regarding the syllabus of their PGDM Economics and Organizational Behaviour program.
PGDM Economics and Organizational Behaviour Top Colleges
There are several reputed colleges in India that offer a PGDM Economics and Organizational Behaviour program or related fields. Here are some of the top institutions known for their management programs:
- Indian Institute of Management Ahmedabad (IIMA)
- Indian Institute of Management Bangalore (IIMB)
- Indian Institute of Management Calcutta (IIMC)
- Indian Institute of Management Lucknow (IIML)
- Xavier Labour Relations Institute (XLRI), Jamshedpur
- Faculty of Management Studies (FMS), University of Delhi
- Indian School of Business (ISB), Hyderabad
- Management Development Institute (MDI), Gurgaon
- SP Jain Institute of Management and Research (SPJIMR), Mumbai
- Indian Institute of Foreign Trade (IIFT), Delhi/Kolkata
These institutions have a strong reputation for providing quality management education, including specialized programs in fields such as economics, organizational behaviour, and related disciplines. However, it is important to note that the selection process for these institutions is highly competitive, and they may have specific eligibility criteria and admission procedures.
It is advisable to thoroughly research each institution, visit their official websites, and review the program details, faculty expertise, infrastructure, placement records, and other relevant factors before making a decision. Additionally, consider factors such as location, fees, scholarships, and alumni networks while choosing a suitable college for pursuing a PGDM Economics and Organizational Behaviour program.
PGDM Economics and Organizational Behaviour Job Opportunities
A PGDM in Economics and Organizational Behaviour opens up a range of career opportunities in various sectors. Graduates with this specialization can find employment in both public and private organizations. Here are some career prospects and indicative salary ranges for professionals in this field in India:
- Economic Analyst: Economic analysts conduct research, analyse economic data, and provide insights into market trends, policy implications, and business strategies. They may work in government agencies, financial institutions, research organizations, or consulting firms. Salary range: INR 5-10 lakhs per annum.
- Organizational Development Specialist: Organizational development specialists focus on improving organizational effectiveness, culture, and employee performance. They design and implement programs to enhance teamwork, leadership, and employee engagement. Salary range: INR 6-12 lakhs per annum.
- Human Resource Manager: Human resource managers oversee the recruitment, training, performance evaluation, and overall management of an organization’s workforce. They play a crucial role in creating a positive work environment and aligning HR strategies with organizational goals. Salary range: INR 6-15 lakhs per annum.
- Management Consultant: Management consultants provide expert advice to organizations on various aspects such as strategy, operations, process improvement, and organizational design. They work with clients to identify problems, develop solutions, and drive organizational change. Salary range: INR 6-18 lakhs per annum, with potential for higher earnings based on experience and expertise.
- Market Research Analyst: Market research analysts gather and analyse data on market trends, customer preferences, and competitor analysis. They help organizations make informed decisions about product development, marketing strategies, and business expansion. Salary range: INR 4-9 lakhs per annum.
- Leadership Development Specialist: Leadership development specialists design and deliver programs to develop leadership skills and capabilities in individuals and teams. They work closely with executives and managers to enhance their leadership effectiveness. Salary range: INR 5-12 lakhs per annum.
- Policy Analyst: Policy analysts analyse government policies, evaluate their impact, and provide recommendations for policy formulation and implementation. They work in government departments, think tanks, research institutions, or consulting firms. Salary range: INR 5-12 lakhs per annum.
Please note that the salary ranges mentioned above are approximate figures and can vary based on factors such as experience, skills, industry, organization size, and location. Salary growth is often linked to performance, experience, and professional development over time.
Additionally, it is important to keep in mind that the job market and salary ranges can fluctuate based on economic conditions, industry trends, and individual negotiation skills.
PGDM Economics and Organizational Behaviour Conclusion
In conclusion, a PGDM Economics and Organizational Behaviour program equips individuals with a strong foundation in both economic principles and organizational dynamics. PGDM Economics and Organizational Behaviour interdisciplinary program combines the study of economics with the understanding of human behaviour within organizations, preparing students for a variety of career opportunities.
Through PGDM Economics and Organizational Behaviour program, students gain knowledge in areas such as microeconomics, macroeconomics, organizational behaviour, leadership, human resource management, and strategic management. They develop analytical and critical thinking skills, along with a deep understanding of how economic factors and human behaviour influence organizational performance and decision-making.
Graduates of a PGDM in Economics and Organizational Behaviour can pursue diverse career paths. They can work as economic analysts, organizational development specialists, human resource managers, management consultants, market research analysts, leadership development specialists, or policy analysts, among other roles. The salary ranges for these positions vary depending on factors such as experience, industry, and location.
It is important for individuals considering this program to research and choose reputed institutions that offer a comprehensive curriculum, experienced faculty, and strong industry connections. The reputation and accreditation of the institution, along with placement records and alumni networks, can further enhance career prospects and opportunities.
Overall, a PGDM in Economics and Organizational Behaviour provides a solid educational foundation for individuals interested in the intersection of economics and organizational dynamics. It equips graduates with the skills and knowledge to contribute effectively in various roles and sectors, making them valuable assets to organizations seeking to navigate complex economic and organizational challenges.
Frequently Asked Questions about PGDM Economics and Organizational Behaviour
Q. What is the difference between PGDM in Economics and Organizational Behaviour and an MBA program?
Ans. A PGDM program typically focuses on specific management disciplines, such as economics and organizational behaviour, while an MBA program provides a broader management education covering various functional areas like finance, marketing, operations, and strategy. PGDM programs often have a more practical and industry-oriented approach, while MBA programs may have a stronger emphasis on theory and research.
Q. What are the career prospects after completing a PGDM in Economics and Organizational Behaviour?
Ans. Career prospects after completing a PGDM Economics and Organizational Behaviour include roles such as economic analyst, organizational development specialist, human resource manager, management consultant, market research analyst, leadership development specialist, and policy analyst. Graduates can find opportunities in various industries, government organizations, consulting firms, research institutions, and more.
Q. Can I pursue a PGDM in Economics and Organizational Behaviour without a background in economics or business?
Ans. Yes, many institutions offering PGDM Economics and Organizational Behaviour do not strictly require a background in economics or business. However, having a basic understanding of economics and business concepts can be advantageous in grasping the program’s content more effectively.
Q. Are there any specific entrance exams for admission to PGDM programs in Economics and Organizational Behaviour?
Ans. Admission requirements and entrance exams may vary among institutions. Some institutions may accept common management entrance exams such as CAT, XAT, GMAT, or MAT, while others may conduct their own entrance exams or consider other standardized test scores. It is advisable to check the specific entrance exam requirements of the institutions you are interested in.
Q. What is the duration of a PGDM program in Economics and Organizational Behaviour?
Ans. The duration of a PGDM Economics and Organizational Behaviour is typically two years, divided into four semesters. However, the duration may vary depending on the institution and program structure.
Q. What skills will I develop during a PGDM program in Economics and Organizational Behaviour?
Ans. During a PGDM Economics and Organizational Behaviour program, you can develop skills such as analytical thinking, problem solving, data analysis, communication, leadership, teamwork, strategic thinking, and decision-making. These skills are valuable for various managerial and leadership roles in organizations.
Q. Can I pursue higher studies or research after completing a PGDM in Economics and Organizational Behaviour?
Ans. Yes, after completing a PGDM in Economics and Organizational Behaviour, you can pursue higher studies such as a Ph.D. in management or related fields. This can lead to research or teaching positions in academia or research institutions.
