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Salary of MA Economics: Top Career Opportunities & Salary Details [2024]
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Salary of MA Economics: Top Career Opportunities & Salary Details [2024]

What is Economics ? Economics is the study of production and consumption of goods, services and wealth. The main motive of this study is to understand how individuals, governments, businesses, and nations make choices about the allocation of resources. According to 20th-century Economist Paul Samuelson, the modern definition of Economics is, “Economics is the study of how people and society choose, with or without the use of money, to employ scarce productive resources which could have alternative uses, to produce various commodities over time and distribute them for consumption now and in the future among various persons and groups of society.” The two categories in Economics are Microeconomics and Macroeconomics. Microeconomics studies businesses and how people react to uncertainty and risk. Whereas, Macroeconomics studies the behavior and performance of the economy as a whole. The study of Economics lets you understand and learn about the following. Trends and happenings in the markets Macro-economy and its analysis Economic forecasts Equal distribution of resources in the society The extent of Government intervention in the economy Examination of statistics of the economy, and to measure its state Different kinds of policies, and to evaluate their outcomes Why Should You Pursue An MA In Economics? There are ample postgraduate degrees to choose from, but before settling down for any particular degree, you ought to get insights into the different postgraduate degrees to know how much salary you can expect after finishing your degree. There are many post-graduate degrees that enrich your knowledge and improve your chances of landing a high-paying job. After pursuing a Master of Arts in Economics, you can work in different domains and across different profiles. Needless to say, the main perk of pursuing this particular postgraduate degree is a handsome salary and a hassle-free career life. Here are some reasons why an MA in Economics is a good choice. Globalization has resulted in diminishing boundaries and merging world economies. This has increased the job scope for MA Economics graduates.  Economics is highly interdisciplinary, meaning you can explore a variety of career options, globally. This has led to a substantial increase in MA Economics Salary. As an economist, you can work in various industries like Banking, Finance, Insurance, Politics, etc. You can also choose to work for the Government, Research firms, Consulting, etc. As an Economics graduate, you will contribute to the betterment of the country. Understanding businesses and industry trends will help companies and countries thrive during difficult economic times. To start with, let us consider a few job profiles for fresh postgraduates of Master of Arts in Economics, along with the scope and salary of MA Economics. MA Economics Job Roles Following are the jobs roles in MA Economics: 1. Professional Economist  A Professional Economist is responsible for curating meaningful data. Their main function is to analyse available data and to reach a point of equilibrium. They do so after studying the demand and supply of different goods and services by gathering the information and then converting it into useful data using different tools, such as researching trends and comparative analysis. If you are someone who is interested in data analysis and research, this might be one of the best career choices. Economists use statistical data to improve profitability and formulate policies for the betterment of the public. Salary of a Professional Economist Economists can make use of their knowledge in the discipline of Education, Health, Banking & Financial Sector, Development Sector, and Environment. An Economics honors salary on an average is ₹6,97,000 per annum. The average salary of a Professional Economist in India is somewhere between ₹88,000 to ₹1,32,000 per month. Experience Level Salary Per Annum  Less than 1 year ₹5,00,000 1 to 4 years ₹7,26,000 5 to 9 years ₹9,86,000 10 to 19 years ₹20,00,000 Source 2. Financial Analyst  The basic task of a Financial Analyst is to help out with the preparation of periodical financial analysis of actual versus budgeted variances, preparation of the financial budget for smooth flow of financial resources, and to assist in channelising or allocating the financial resources of the company using different tools. Financial Analysts have a broad scope in the area of accountancy as well. Salary of a Financial Analyst The average salary of a Financial Analyst in India is approximately ₹4,12,339 per annum. So, in a nutshell, it’s a good start for freshers to try their hands on. Source 3. Research Associate  A Research Associate plays a pivotal role in establishing the connection between the company they work in and the related industry. A Research Associate is a chief member of the research department. He or she is fundamentally responsible for carrying out the work of research to help abstract data for the decision-makers to help them make appropriate and timely decisions. Research Associate’s work involves gathering of data, organising it, and then finally synthesising it for the firm’s decision-makers , which in return assists the decision-makers in taking required actions. Salary of a Research Associate Various industries require Research Associates and the average annual pay will depend upon the industry and the experience level. The average MA Economics salary is tabulated here. Experience Level Salary per annum Less than 1 year ₹3,50,000 1 to 4 years ₹4,14,000 5 to 9 years ₹6,57,000 10 to 19 years ₹9,97,000 The average base salary of a Research Associate is ₹3,91,000 approximately per annum. On gaining some experience and exposure, a Research Associate can be promoted to a Senior Analyst or even a Research Director. The salary for a Senior Analyst is somewhere around ₹7,00,000 per annum, and that of Research Director is ₹27,50,000 per annum. Source 4. Investment Analyst  An Investment Analyst is a professional with a good grasp over collecting and abstracting data related to different types of securities, evaluating the information obtained using his/her expertise and experience, and deciding whether to buy, sell or hold different securities. The various securities can be stocks, currencies, bonds. They are assigned the work of analysing securities of a particular industry, or a particular region. Salary of an Investment Analyst The average salary of an Investment Analyst is ₹6,00,000 per annum. Many of the freshers pitch in as an Investment Analyst because of the monetary perks. The basic skill required to excel in this field is a strong command in quantitative and qualitative analytical skills. Source 5. Marketing Manager Marketing Manager is the chief person whose primary purpose is to study the market and market trends, learn about the customers as well as the competitors in the market, plan marketing strategies to attract new customers, and make an effort to know about the potential customers. His or her job role revolves around the market. He or she needs to analyse, or put it simply, study the market and creation of marketing campaigns. He or she is the one who needs to undertake the work of building up brand image and raising brand awareness. Salary of a Marketing Manager The average Masters in Economics salary being a marketing manager based on work experience is given here. Experience Level Salary per annum Less than 1 year ₹4,82,000 1 to 4 years ₹5,37,000 5 to 9 years ₹7,55,000 10 to 19 years ₹9,85,000 source 6. High School Professor  A professional having a MA Economics degree could become a Professor in a college or a high school. It is a secure and safe job to have; and could be very knowledgeable too, as one can always increase his or her scope of learning through the field of education. Teaching is a good option and is a dream job of many youngsters out there. So, if you wish to teach and share your knowledge with others, then teaching is the best-suited option for you. Salary Of A High School Professor The salary of MA Economics as a High school Professor could range between ₹339k to ₹364k per annum in India. Source 7. Data Analyst  If you are an M.A in Economics, then Data Analysis is yet another lucrative career option, and carries a wide scope too. A major in Economics can pursue a career in data science, as there is high market demand, and they have all the necessary skills to become a Data Analyst. A Data Analyst has to gather all the important information from different sources so as to make effective business decisions. He or she then has to interpret trends and patterns in the market and make analysis accordingly for the operation of the business. Salary of a Data Analyst The average salary of MA Economics as a Data Analyst in India is ₹4,44,000 per annum. Whereas, the salary of a Data Analyst after gaining an experience of about 4 to 6 years remains stable at ₹8.7 Lakhs. Experience Level Salary per annum Less than 1 year ₹3,98,000 1 to 4 years ₹4,87,000 5 to 9 years ₹7,82,000 10 to 19 years ₹10,00,000 Source Conclusion  We can now see through the above-stated data that the Master of Arts in Economics is an excellent career option to pursue after graduation. So, for your further study, you must decide and choose a knowledgeable platform to study in order to boost your career life. A Master in Economics is an excellent career option to pursue after graduation. However, like any other field of study, to have a successful career, you have to keep yourself updated with the latest developments through publications. Also, networking with industry experts can keep you on track in your job hunting process.

by Akshay Suple

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29 Aug 2023

5 Most Common Guesstimate Interview Questions & Answers [For Freshers]
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5 Most Common Guesstimate Interview Questions & Answers [For Freshers]

Summary In this article, you will learn about the 5 most common guesstimate interview questions & answers. Take a glimpse. 1. How many cups of tea were consumed in Mumbai last month? 2. How many iPhones are currently being used in India? 3. How many cars are there in Delhi? 4. What is the size of the laptop market in the USA? 5. How many ping-pong balls can fit inside a Boeing 747? Read the full article to know more in detail on how to find answers to such questions. If you plan on having a career in the consulting industry, you need to know how to guesstimate. Guestimation can feel like a daunting task, especially when you first look at the kind of questions asked. From the market sizes of large conglomerates to revenues and populations, calculating some of these quantities even close to a ballpark is realistically impossible. However, it is here that you must realise that guesstimation is never about the answer. Guesstimate interview questions assess you according to the approach that you take in solving a certain question. This approach tells your prospective employer whether you are fit for the job you are applying for. Check out our free courses offered by upGrad under IT technology. You might be looking up stuff such as how to solve guesstimates, guesstimate cheat sheet, guess estimates guide, what is a guesstimate and how to frame a guesstimate approach. Read on to understand the topic in-depth and find top tips to tackle such questions. Guesstimates are generally asked in the first round of consulting company interviews. Typically, this will be followed by a business case round and then a personal interview. Guesstimates require significant amounts of practice before you sit for the interview. Look up information using terms such as how to solve guesstimates, guesstimate cheat sheet, guess estimates guide, what is a guesstimate and how to frame a guesstimate approach. The use of a pen and paper in the guesstimation round will be permitted. Still, the aim must be to solve the question in such a way that the interviewer can understand your approach, regardless of whether the calculations were correct or not. Key Points About Answering Guesstimation Questions No correct answers: No guesstimate question has a correct answer. No guesstimate question also has a correct approach. When you start solving a guesstimate question, your aim must not be to reach a correct answer or apply a correct approach. If the question you have been asked seems realistic—such as the market size of a particular good—do not believe that you will be able to reach the correct answer or anywhere close to it through guesstimating. Check our program on Advanced Certification in Digital Marketing from MICA The aim must be to be logical. The approach you take toward solving the question, and every step you take after the previous, must follow and seem to lead toward a correct answer. Additionally, do remember that it is highly unlikely that the interviewer knows the correct answer either. You are being assessed purely based on how you are tackling the issue. Don’t tie yourself up in knots: Scores of students and interviewees, in the endeavour to reach as close to a correct or realistic answer as possible, will end up assuming such quantities that can take minutes to calculate. Calculating 0.75% of 2.5 million can be hard in a crunch situation, with an interviewer assessing your every move and awaiting your next step. This is yet another reason why you must not look for correct answers. The interviewer has likely provided a question without numbers—if you end up confusing yourself or having too many difficult numbers to calculate, it is probably your fault. Make sure always to round up or down when approaching guesstimate questions. Rounding up or down makes remembering numbers and calculating them very easily and can help you proceed to the next step much faster. Write it down: You will likely be given a pen and a paper when you appear for the guesstimate round. If you aren’t and believe that the question asked will require one, you can ask for writing material. While you are solving the question, make sure to write every part down. If your question ever requires segmentation, make a flowchart showing the different segments you have created and conduct each segment’s calculation under the respective segment subhead. Do not treat the piece of paper as a rough calculation sheet. The interviewer may eventually ask for this sheet and mark you down if your working seems illegible. What you write and how you write it are both essential parts of the question you are answering and can prospectively help you solve the question in a much better manner. Speak up: Writing while speaking, and indeed vice versa, can be a challenging task. However, make sure that you are clearly and directly communicating your approach to the interviewer. Again, the interviewer is not looking for your answer; it is the approach that is being assessed. Do not treat the guesstimate question as a mathematical query; instead, consider it a logical one and focus on communicating the reasons you opt for each step to the interviewer. An excellent method of avoiding writing while speaking can be to first inform the interviewer clearly of the next step and then move on to the quick calculation. Do not spend too much time on the calculation. The time you speak for should always be greater than the time you spend calculating. Why the Focus on Guesstimate Questions? Since guesstimate questions are framed on limited information and lesser details, the candidate needs to combine mental ability, wit, thinking as well as problem-solving ability. Of course, interview takers also judge the background knowledge a candidate has when the latter are given such questions. Steps For Solving a Guesstimate Question Step 1: Before jumping into the calculation, you must make all essential clarifications in the question itself. There is no limit to the kind of questions you can ask the interviewer. In general, try not to ask questions leading directly to an answer and stay away from questions whose answers might be numerical. Instead, try and stick to yes-or-no questions that it is easier for your interviewer to provide answers to. However, do make sure that you get all your doubts clarified before you proceed with the calculation. You can ask questions during the solving process, but making the right start is equally important. Asking questions also brings you and the interviewers on a common platform regarding the question prerequisites and allows you some extra time to think about your approach. Step 2: Break down the problem into smaller and small pieces through successive steps. Here, you must take no more than about 4-6 steps in reaching your final determination. If you break your problems into smaller pieces, but successive pieces are just not small enough, it will take too much time before you reach close to the metric you are required to calculate. Develop an extremely clear understanding of the case at hand. Your structural clarity and the optimization of solving ability will help you reach the problem’s crux. When breaking the case into smaller units, take each unit as a step and apply your problem-solving ability. Make sure you discuss every step with the interviewer. This will help you understand if you are moving in the right direction. When solving guesstimation problems based on numbers, take up whole numbers. Especially those in 5 and 10’s multiples. You do not need to provide perfect calculations.  Make sure you do not confuse yourself with too many calculations. Getting entangled in many figures is easy but far more difficult to find a way out. At times, you will need to segment the problem into two or smaller pieces and then calculate separately for each segment. Make sure that each segment is assigned a proportion that is both logical and easy to calculate. Assigning a percentage share like 27% to a segment will make your calculation impossible, so stick either too simple fractions or tens of percentage points Step 3: Only after you have determined your approach must you start solving. Do not begin solving before you have determined how you are going to reach your final answer. It communicates the wrong message to the interviewer concerning your strategy of tackling problems. Additionally, once you have decided upon a strategy, it becomes easier to assign proportions that are calculable. Also, do not calculate in silence. Keep speaking and guiding the interviewer through your process, and ask any necessary questions. You may even stop to ask if your approach is logical. Step 4: This is the final step of the guesstimate solving process when you reach the answer. Recheck your calculation and examine if any calculation seems off. Do not pay heed to how much the individual answers match a possible realistic answer in your mind. Add up all the individual pieces of the guesstimate and report a final answer. Also, Check out online degree programs at upGrad. Guesstimate Interview Questions and Answers Examples 1. How many cups of tea were consumed in Mumbai last month? First, clarify the question. Then, start solving. As a first step, inform the interviewers that each day of the week is being considered equally. Tea consumption might likely decrease during the weekend as people do not go to the office—so you might consider that as well. We shall go with the first assumption. The population of Mumbai is 18 crore; we shall round it up to 2 crores. 20% of this population is assumed to be children who do not drink tea. Another assumption is that of the remaining population, 20% are habitual drinkers, 30% are regular drinkers, 20% are occasional drinkers, and 10% are non-drinkers. The habitual drinkers may be said to have three cups of tea in a day. Regular drinkers may be said to have one cup of tea in a day. The tea consumption of occasion drinkers maybe once a week, and that of non-drinkers none at all. Calculating proportions- Habitual – 3 x 0.2 x 7 = 4.2 Regular – 1 x 0.3 x 7 = 2.1 Occasional – 1 x 0.2 x 1 = 0.2 Non – 0 Total = 6.5 Total cups per week = 6.5 x 1.6 crore = 10.4 crore 2. How many iPhones are currently being used in India? Clarify with the interviewers whether the question is about only a single version of the iPhone or all versions put together. Here, we shall assume that all iPhones put together are being talked about. The first step toward solving this query will be segmentation. There are many ways in which India’s population can be segmented. Here, we shall first assume that only people who have attained a working age and are under the age of retirement own an iPhone. Children and old citizens do not own an iPhone. This removes 20% of the population as children and 20% as senior citizens. The next assumption will be that only the upper stratum of India’s income range can afford an iPhone. This metric assumes that only 5% of the eligible citizens from the previous filter can own an iPhone. Now, it is not necessary that every member of this upper stratum will own an iPhone. Other options, such as OnePlus, Samsung, etc., are also available. However, a fair assumption would be that 50% of the eligible population from the previous filter owns an iPhone. Calculating the proportion of the population that owns an iPhone –  0.6 x 0.05 x 0.5 = 0.015 Total iPhones in India = 0.015 x 130 crore = 1.95 crore 3. How many cars are there in Delhi? Clarify whether the interviewer assumes just personal vehicles or all cars, as Delhi is also a government seat. The assumption in this solution will be that only personal vehicles are being talked about. Firstly, the population of Delhi is 2 crores, rounding up. The average size of a family in Delhi may be said to be four people, it being an urban region mostly composed of nuclear families. Further segmentation may be as per income class or level. As is customary, 30% of people may be said to belong to the lower class, 50% to the middle class, and 20% to the upper class. The calculation metric will be the number of cars per family. Among middle-class families, 50% may be said to own a car, and the other 50% own no car. Among the upper-class families, it may be said that all families own an average of two cars. Calculating proportions- Middle class families – 0.5 x 0.5 x 1 = 0.25 Upper class families – 0.2 x 2 = 0.4 Total = 0.65 Total cars in Delhi = 2 crore * 0.65/4 = 32.5 lakhs. 4. What is the size of the laptop market in the USA? Make important clarifications such as the unit of measurement. Here, we shall assume that the unit of measurement is the number of laptops sold in a year. The first step will be to make clear the USA’s population, which may be taken to be 300 million. Next, assume the proportion of this population that owns a laptop. The last determination will be the average span of the life of a laptop in the USA. The USA population may be segmented into retirees, students, stay-at-home population, and working population. The working population may be said to be 50% of the total population. The retirees maybe 30% and students maybe 20% of the whole population. Among the working population, it is assumed everyone owns a laptop. Among the retirees, a fair assumption would be that nobody owns a laptop. Among students, while younger classes do not require laptops, older classes do. So, half the students may be assumed to own a laptop. Calculating the proportions of the population that own a laptop – Working population – 0.5 x 1 = 0.5 Students – 0.2 x 0.5 x 1 = 0.1 Total – 0.6. The average age of a laptop may be said to be 5 years. So, ⅕ of the total calculated population will change their laptops every year. The market size of laptops in the USA is 350 million x 0.6 x 0.2 = 42 million. 5. How many ping-pong balls can fit inside a Boeing 747? Begin by asking the interviewer the size of a ping pong ball. If you do not get an answer, assume a value. To calculate the number of ping pong balls that fit inside a Boeing 747, we can begin by calculating the volume of a Boeing 747. First, assume the total number of seats on the plane. Then, account for the extra space—the aisles, the galleys, and the washrooms. The additional space will be the space in the overhead compartments and the space above the passenger’s head. Now, divide the volume that you have calculated by the volume of the ping pong balls that you have assumed. Do not forget to account for the empty space between the balls. Let’s say there are 400 seats in a plane. If we consider the aisle to occupy one seat’s space, and there are 40 rows with two aisles, that adds 80 more seats. Let us say the area above the seat is about the same as the seat itself. That makes 960 seats in total. The washrooms and galley might add space worth about 20 more seats, making the total count roughly 1000 seats. Each seat can be said to occupy the amount of volume a human takes up in the sitting position. Assuming this to be 4 ft x 2 ft x 1 ft, the total seat area is 8 ft. Hence, the plane’s total volume becomes 8000 cubic ft or 13824000 cubics in. Let us say the area occupied by a ball is 4 cubic inches. The total number of balls hence becomes 3456000. Considering that balls can be packed only with about 70% efficiency, the total number of balls becomes 2419000.  6. How many tennis balls can be fitted inside a room? In order to answer this question, the very first thing that you need to do is know the tennis ball’s size. This can be done by questioning the interviewer about its size or by assuming it yourself. Next, calculate the room’s volume and divide it by the volume of the tennis balls. Here you must note that tennis balls are round in shape therefore, a regular arrangement would automatically leave some empty spaces because of their shape. Let’s assume that a room contains only 4 seats, but it may fit 5 chairs in horizontal direction and 10 in vertical. If the arrangement is repeated 10 times for filling the entire space of the room, it can roughly fill 500 seats. Next, you need to consider the total space that the seat occupies as space. Therefore sp= (4 x 2 x 1)ft = 8 ft. This represents that the volume of the room may be in approximation sp x total seats that can be fitted inside the room = 8 x 500 = 4000 cubic ft. The area that the tennis ball may occupy according to this is 4 cubic inches. Now, in order to find out the number of tennis balls that can be packed in the room, divide the room’s volume by the total area that is occupied by the ball. Room’s volume/ the occupancy of total area by the balls= 1000 balls. But since the tennis balls due to their round shape can only be packed up to 70% the number of balls that would fit inside the room is 700. 7. What is the total number of refrigerators being sold in India each year? To answer this question, make sure that you clarify whether you must consider only refrigerators of domestic brands or both international and domestic. If you are asked to consider both, make the inclusion of various segments on the basis of different factors. First, consider India’s total population and divide it by an average number of household members. For instance, 5 members each household. Now make population segments by dividing it into urban, rural, and suburban. Make a classification of these segments on the basis of the availability of electric supply. 1.3 million of the total India’s population still doesn’t get access to electric supply. Also, exclude the people who remain below the poverty line.  The final approximation must concern the yearly demand for new refrigerators as well as their replacements. There are also some other factors that you must consider in your calculation such as the total lifespan of a refrigerator and the yearly projected refrigerator growth rate.  India’s total population= 130 crore No of members in each family= 5 Total households= 130/5= 26 crore For urban areas ratio of the percentage of poor:middle:rich= 20%:60%:20% For semi-urban areas  ratio of the percentage of poor:middle:rich= 40%:50%:10% For village areas ratio of the percentage of poor:middle:rich= 60%:38%:2% Therefore the market penetration  Poor% Middle class% Rich% Urban 0 50 100 Sub urban 0 40 100 Villages 0 0 100 The absolute number of refrigerators= Total sum of penetration* total household in each segment Urban Suburban Metro Households 0.2*32.5 = 6.5 Cr 0.15*32.5 = 4.875(Let’s approximate it 5) 0.65*32.5 = 21.125 (Let’s approximate it 21) Refrigerator penetration 0.5*0.6+0.2 = 50% 0.4*0.5+0.2 = 30% 2% sum 0.5*6.5 = 3.25 0.3*5 = 1.5 0.02*21 = 0.42 Thus total refrigerators= 5.17 crore Let’s assume 10 years as the average life span of a refrigerator and the growth rate 5% Total refrigerators  that may be sold in a year = New Demand due to growth+ refrigerators  due to replacement  = (Total refrigerators ( i.e. market size) / Avg Life) + (Growth rate * Total machines (i.e. market size)) = (5.17/10)+(5.17*0.05) crore = 0.775 crores = 77.5 lakhs Conclusion The above guesstimate interview questions and answers will give you a firm insight into what guesstimates are and how to solve them. However, do always remember that the best way to solve guesstimate interview questions is by practice and practice alone. Be prepared to justify your conclusion with logic. You must have an argument backing your finding since the interview will need to see your analysis of the problem. Support your answer with the right points instead of looking for a perfect solution to the guesstimation question Learning online has become more relevant today than ever before. If you’re interested in learning online, you can get a course and start your journey today. Checkout upGrad’s top courses in Data Science, Machine Learning, Digital Marketing, MBA from LBS & Full Stack Development.

by Akshay Suple

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29 Aug 2023

Top IIIT-Bangalore‎ Courses [2024]
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Top IIIT-Bangalore‎ Courses [2024]

IIIT-Bangalore is one of the top technical and research schools in India and the global platform, known to impart valuable education and create unforgettable experiences for students. It is funded by the Government of Karnataka and the IT industry and is ranked among the Top 10 Technical Universities in India. IIIT-B hosts some of the best-in-class faculty among all Indian vocational institutes, who aren’t just exceptional scholars, teachers, and mentors passionate about their craft but are also distinguished achievers in the fields of research and development. The institute offers PG, MTech, MSc, PhD, and Certificate courses in a wide range of disciplines to cater to passionate students and potential entrepreneurs; IIITB courses have inbuilt projects and case studies that can pave the path for entrepreneurship for aspiring students.  upGrad has collaborated with IIIT-Bangalore to help learners worldwide gain access to top IIIT-B courses and equip them with in-demand skills. As the largest online education platform in India, upGrad programs are designed to bridge the talent gap between employees and industries through its professional online programs that include targeted content and weekly assignments from IIITB faculty and personalised mentorship from industry experts.  Let’s take a look at the top IIITB courses professionals across various technical disciplines can pursue to increase their chances of success at top tech companies.  About Blockchain Blockchain is a revolutionary technology that facilitates secure information and transaction sharing. Unlike traditional databases, it operates as a distributed ledger, allowing multiple network participants to update and validate it. With transparency, immutability, and efficiency, blockchain holds immense potential across industries.  Blockchain enables transparent and decentralised transactions, asset tracking, and trading. It eliminates intermediaries, reducing risks and costs while enabling peer-to-peer transactions. The technology extends beyond cryptocurrencies to include decentralised finance, non-fungible tokens, and smart contracts. Blockchain improves data security, decreases dependency on third parties, and promotes openness and trust among participants. With faster settlements, reduced data alteration risks, and a single source of truth, blockchain offers significant advantages. Individuals can access educational resources, such as online courses and tutorials, to deepen their understanding of blockchain concepts and potential applications. By leveraging blockchain, industries can drive innovation and transform their operations. Also if you want to learn about Blockchain, Institutions like IIT Bangalore Courses on blockchain technology course, provide you a comprehensive knowledge and practical skills in this field. These courses cover various aspects of blockchain, including its fundamentals, decentralised applications, smart contracts, and security considerations. PG Diploma in Software Development – Blockchain Designed for software developers, IT professionals, engineers, analysts and technical leads with a minimum of a bachelor’s degree in computer-related courses, the 13 months PG diploma course helps you acquire a wide range of skills. These include Ethereum, Hyperledger Fabric, and Distributed Application Development (smart contracts development, backend development, API).  The course from IIIT-B covers 500+ hours of content, 9 case studies, and 10+ live sessions. It has four weeks dedicated to pursuing capstone projects for building practical knowledge of 10+ tools & software. A PG certification can land you lucrative job roles, including a Blockchain Developer, Ethereum Developer, Node Js Blockchain Developer, Hyperledger Developer, Solidity Developer JavaScript Developer, and Backend Developer, among others.  Pursuing the course through upGrad will make you eligible for 1:1 mentorship sessions with top faculty, assistance in interview preparation practice and mock interview rounds with industry experts.  PG Certificate in Blockchain Technology (7.5 months) The 7.5-month postgraduate course is designed for working professionals who learn lifelong skills such as Ethereum, Hyperledger Fabric, Distributed Application Development (smart contracts development, backend development, API).  The course is offered in an online teaching format and includes 1-on-1 sessions with industry mentors and timely doubt resolution classes to help students if they are stuck. It comprises 200+ hours of content, 4 case studies and projects and enables you to gain proficiency in 11 tools and software like JavaScript, Ganache, Solidity and NodeJs, among others.  About Data Science | Machine Learning Data plays a vital role in machine learning as it forms the basis for training models. The volume and quality of data significantly influence the performance of models. Access to diverse and reliable data is essential for developing precise and efficient machine learning models. Machine learning algorithms can detect patterns and relationships by leveraging data, enabling tasks like prediction and classification. Data can be categorised as labelled, meaning it includes a target variable or unlabeled. Numerical data is measurable, such as age, while categorical data represents different categories, such as gender. To train models effectively, data is divided into training and testing sets. The training set is used to teach the models, while the testing set evaluates their performance. Data preprocessing is a crucial step, involving tasks like cleaning, normalisation, handling missing values, and selecting or engineering features. While data provides the raw material, knowledge involves understanding, interpreting, and applying that information. The exponential growth of data presents challenges, including concerns about accuracy. For instance, predicting car fuel efficiency requires collecting labelled data on weight, engine size, and fuel efficiency, splitting it into appropriate sets, and preprocessing it to ensure accurate predictions. Associate Diploma in Data Science (12 months)  The 12-month course through upGrad provides you access to India’s leading Data Science faculty & industry experts. It offers 40+ live learning & expert coaching sessions where you learn four programming tools/languages. A certificate from IIIT-B can help you land a job in top companies like Amazon, Tech Mahindra, Microsoft and more.  Advanced Certificate In Data Science (7 months) The 7-month postgraduate program comes with job opportunities like Data Scientist, ML Engineer, Data Analyst, Product Analyst, Business Analyst, Chief Architect. Students with a minimum of 50% in a bachelor’s degree are eligible to join and avail the benefits of the course that offers an in-depth understanding of Statistics, Python Programming, Predictive Analytics using Python, Basic & Advanced SQL, Visualization using Python, EDA, and Basic & Advanced Machine Learning Algorithms.  Executive PG Program In Data Science (12 months) This NASSCOM certified course offers 400+ hours of valuable knowledge that includes learning proficient skills like Predictive Analytics using Python, Machine Learning, Advanced-Data Visualization, Business Problem Solving. Learn from experienced individuals from top industries like IIIT-B, Flipkart, Genpact, and more to get recruited by top companies like Amazon and Microsoft.  Advanced Certification in Machine Learning and Deep Learning (6months) With 250+ hours of live sessions, and several case studies and projects, you stand to gain valuable knowledge on programming languages, data science toolkits, statistics and exploratory data analytics, Machine learning I, Machine learning II, and deep learning. Through upGrad, you can enjoy 1:1 sessions with top mentors and industry experts who will guide you through your interview preparation and provide career counselling.  Advanced Certificate in Machine Learning and NLP (6 months) The 6-month course comprises 15+ coaching sessions and includes India’s leading ML & AI faculty and industry experts. Completing the course through upGrad offers advantages like personalised industry mentorship, industrial projects for practical experience, live sessions with experts, constant support from mentors, doubt sessions and group projects.  Executive PG Program in Machine Learning and AI (12 months) The postgraduate program offers 450+ hours of live sessions by experts and 12+ case studies and projects. The syllabus covers Data Science Tool Kit, Statistics and Exploratory Data Analysis, Machine Learning I, Machine Learning II, Natural Language Processing, Deep Learning, Reinforcement Learning, and Deployment and Capstone Projects. If you’re looking to kickstart a career in Machine learning, register before Mar 31st at upGrad, which is when the next batch begins. Master of Science in Machine Learning and AI (18 months) The 18-months course grants you alumni status at IIIT-B and LJMU. With over 450+ hours of live sessions, gain personalised mentorship from industry experts from the world’s leading universities. This WES-recognized Master course will land you a job in top companies globally like Microsoft, HCL, Accenture, Genpact, Cognizant and more. An M.Sc in Machine Learning in AI makes you skilled at several programming languages, tools and libraries, including Python, TensorFlow, Flask, NumPy, and Amazon Web Services.  About Software and Technology The field of information technology (IT) relies on the close relationship between software and technology. IT encompasses the utilisation of computers for tasks such as data creation, processing, storage, retrieval, and distribution. This domain comprises both hardware and software components, with the terms information and communications technology (ICT) often used interchangeably. The interconnected nature of software and technology forms the foundation of IT, enabling the seamless management and exchange of information. Software is made up of instructions or programs that teach a computer on what to perform. It allows people to complete work on computers or other devices. System software, programming software, and application software are all examples of software. In contrast, technology comprises a greater range of tools and solutions created by people to address specific issues and improve productivity. It comprises numerous tools and solutions used to achieve goals in the creation of goods or services, in addition to software. Executive PG Program in Software Development – Full Stack (13 months) This diploma course is designed for software developers, IT professionals, engineers, analysts, tech support professionals, and freshers wanting to kick-start their career in software development. Apart from access to world-class faculty and industry experts, the 13-month course covers Fundamentals of Computer Science, Software Development Processes, Building Robust and Scalable Websites, Backend APIs, and Rich and Interactive Web UI. Students also have exclusive access to Data Science & Machine Learning content material at no additional costs. The syllabus covers more than 500 hours of study content and includes 9+ case studies and assignments.  PG Certification in Cyber Security (7.5 months) Anyone with a BA’s degree with 50 percentage marks is eligible to apply for a postgraduate certificate in cybersecurity which is one of the most in-demand skills today, given the increasing security risks to digitised companies. The course is open to all engineers, software/IT, Data & anyone who wish to gain a foothold in the cybersecurity industry. Experience 250+ hours of world-class mentoring from India’s leading Cyber Security experts. The syllabus covers more than 4 case studies and projects in 10+ live sessions that include Prerequisites on Programming Language Fundamentals (Python) and Internet & Networking Basics, Information Security and Applied Cryptography, Network Security in Ethical Hacking, Application Security in Ethical Hacking and Advanced Concepts in Cyber Security, and capstone projects. PG Certification in Cloud Computing (7.5 months) The course is specially designed for working professionals who aim to learn skills like Amazon Web Services, SQL & NoSQL Databases, Spring Boot, Spring Cloud, Microservices, Cloud-Native Development, deployment and many more. upGrad offers its students 360° career support, including access to job fairs, mock interviews, resume building, instant interview feedback, and more. Earn a chance to land high-paying jobs at top organizations around the world.  PG Certification in Big Data (7.5 months) The course comes with more than 250 hours of valuable study content covering the prerequisites of Introduction to Python and Libraries, Internet & Networking Basics and Tools: Python, Big Data Fundamentals and Platforms for Big Data, Batch Data Processing, Real-Time Data Processing and Capstone Project. It offers a practical experience through real-life industry projects, case studies & assignments, and 10+ live sessions from industry experts. Completing the course through upGrad offers job placement assistance through live profile-building workshops & 1:1 resume reviews, three months of career support, and job opportunities with 100+ postings.  PG Certification in DevOps (7.5 months) The 7.5-month course is designed for anyone who wishes to learn software engineering, agile methodologies, deployment perspective, and continuous interaction and deployment. A certification from IIIT-B can help you land lucrative job roles such as DevOps Expert, DevOps Engineer, DevOps Developer, DevOps Lead, Platform Engineer, System Engineer, Site Reliability Engineer, Solution Architect in the world’s leading companies.  PG Certification in DevOps is one of the most sought-after IIIT-B courses since DevOps Specialists and Site Reliability Engineers are two of the highest-paid job roles as per StackOverflow.  With over ten live sessions covering more than 250 hours of study content, you stand to learn the necessary prerequisites to become a DevOps professional. The curriculum comprises Introduction to Python and libraries, DevOps Essentials, Web Applications at Scale (Live), CICD Pipeline, and System Provisioning and DevOps Advanced Concepts (Live). It also includes capstone projects that provide you with industry exposure and practical experience. Conclusion In a nutshell, IIIT-Bangalore offers a diverse range of top-notch courses in 2024 that cater to the rapidly evolving field of technology. Whether you’re interested in computer science, artificial intelligence, data science, or other related disciplines, IIIT Bangalore mtech is designed to equip you with the necessary skills and knowledge. With experienced faculty, industry collaborations, and a focus on cutting-edge research, IIIT-Bangalore provides an excellent platform for students to thrive and excel in their chosen fields. Pursuing a course like IIIT Bangalore btech can open doors to exciting career opportunities and set you on a path towards success in the dynamic and competitive technology industry. This brings us to the end of the article. If you have any questions related to IIIT-B courses, feel free to reach out to us.

by Akshay Suple

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12 Jun 2023

Psychology Project Ideas & Topics in 2024[For Freshers]
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Psychology Project Ideas & Topics in 2024[For Freshers]

Psychology is a huge field containing many divisions and subdivisions, each of which contributes to the entirety of the field uniquely. And there are many, many reasons why you would consider taking up a psychology project – it could be for academic reasons (if your school or college mandates that you undertake one), or you can take up a psychology project simply because you’re interested in it and are testing the waters. Regardless of the specific circumstances that lead you to take up a psychology project, the information regarding psychology projects will remain the same throughout. Why Do Psychology Projects Matter? When it comes to developing a deeper understanding of how the human mind functions, psychology projects can go a long way. In fact, these projects are perhaps more in line with the word “experiments” in that they can elaborate more on one aspect of a particular question, thought, or idea, than anything else can. However, not all projects are experiments, as the more theoretical ones, require more reading rather than experimental setups. It would be instructive, then, to keep in mind the core purpose of doing these projects, or experiments – unearthing or discovering specific kinds of information that are relevant to the question being asked beforehand. Therefore, the more practical projects are experimental in nature, while the more theoretical ones help with research.  When discussing from a purely educational standpoint, a lot of basic experiments can serve very well at the school or undergrad level. Then, spending upon where you’re headed in terms of education, you can either take a significantly more theoretical stance in certain psychological schools. Or, it can get significantly more experimental, if that’s what ends up working for you. Either way, this list is going to be very useful for you – so read on, no matter what the case is! Without further ado, then, let’s take a look at some theoretical and some practical psychology project ideas!  Practical Psychology Projects (Experiments) 1. Is it Possible For People to Feel that they are Being Watched Even When There is no Tangible Evidence Regarding the Same?  For this, you can set up experiments to make sure that a person you are communicating with can tell you exactly what they feel when they are either alone or in a crowd. Various types of questionnaires can be set up to get the correct type of data for this, and as and when you find yourself assessing the data, you can understand the concept of interiority much better. 2. What is the Impact of Color Perception on Physiology? This is an interesting experiment not only because it relates to how the human body processes colors across different senses (from sight to taste to the skin, etc), but also because it lets a student explore neuro-physio-psychological connections all through one experiment! Moreover, this can also shed some very interesting light on a disorder like synesthesia, which is perfectly benign as a disorder but has some very interesting consequences. For instance, people have reported that they can taste colors and smell musical notes – it’s all kinds of fascinating! 3. Can Different Colors Impact Moods Positively or negatively? One of the most researched topics around color perception and color psychology as a whole is how it relates to mood. There is a consensus around the question, and it has developed across the centuries, as these experiments have been conducted both at the university level and beyond that as well. But generally, this is a great experiment to test the waters and see what the processes are like. 4. Does the Type of Music One Listen to Correlate with One’s Personality? Yet another commonly studied experiment is one that tries to establish a legitimate correlation between someone’s personality and the type of music that one listens to. Of course, as a general experiment, it gets tough to pin it down, but even when done in focus groups of about 15-20 people each, this experiment can give really insightful results. 5. Can Different Types of Music Change How a Person Reacts Physiologically? Continuing onward with the theme of music, it can also be used in a different way for experiments, to find out whether it has any physiological reactions. It is best not to start with a clean slate here, but rather to have a specific point of inquiry that gets addressed as being negative or positive. For example: can certain types of music calm people down? Or – do certain types of music have the ability to make people’s hearts beat faster? Questions along this line will be helpful. 6. What is the Best Way to Measure Creative Versus Analytical Thinking? There are many ways to understand as well as to measure creative and analytical thinking. As a student of psychology, you can conduct your own experiment, which will assess whether or not you agree with certain ways of thinking and pose your reasons for said agreement or otherwise. Even though this experiment is theoretically basic, it’s precisely that simplicity that allows it to be so diverse in execution! You can take this experiment anywhere you want – depending on the resources you have available and are willing to spend. 7. Is There Any Correlation Between the Pace of the Movie that One is Watching and the Amount of Food One Eats? This is yet another simple experiment that can demonstrate habit at a subconscious level and can be a great experiment to illustrate the connections between sight and taste, if not among other stimuli, and how a person responds to them. You have to take care here not to conflate correlation with causation, though, since that is a common issue with this experiment in particular. At the experiential level, this experiment illustrates a lot – and the more connections you can make the better it will be for you! Theoretical Psychology Projects (Research) When it comes to theoretical projects, it’s advisable not to directly take up a project, but rather to take a look at the structures that surround the topic you want to approach. And it’s by identifying a line of questioning in a particular field that you can delve deeper into your research area. Because, believe it or not, the more you study, the more your lines of exploration change! So the rule of thumb is to delimit your field first and then begin from there. Here are some possible lines of exploration, along with some sample topics: 1. Identity The construction of Identity in sub-urban India Identification with religious sentiments in Texas, USA 2. Sexuality Exploring struggles with bisexuality in young adults in Beirut Understanding homosexuality in myths 3. Conflict What are the effects of domestic violence on women and children? Different types of authority figures and how they create/solve the conflict 4. Language How does language function in the human mind? Is there any difference in how bi/multi-lingual people approach the world versus monolingual people? 5. Creativity Are there any essential factors for “creativity” as a form of expression? Is there a case for consistency when it comes to creativity – or are they directly opposed? Again, keep in mind that these topics are meant to serve as guides and not as de facto research topics. Make sure to research into these as and when you get started – and then hopefully you’ll be able to get in touch with the part of you that gets excited by psychology and create another question altogether! However, if these questions haven’t inspired you, read on for some other steps you can take. How Else Can You Get Inspired? 1. Talk to your Professors and/or Connect With your Peers Whether you have professors or not, you can always find some people who are interested in psychology to get in touch with you to create a community of like-minded people. Here, you can discuss your likes and dislikes and work through opposing mentalities and arrive at a more nuanced understanding of different psychological concepts and techniques. This is a sure-shot way of constantly being in the best kind of headspace – it is surely going to pay off, sooner or later! 2. Explore on your Own Discussions with like-minded folks aside, reading on your own is always a great way to explore ideas that intrigue you and make you feel inspired to learn more! Reading is the foremost way to achieve this, but as the internet has expanded to include multiple ways of content presentation, there are also podcasts and videos that you can rely on! Ultimately, the more you learn, the better – so get started as soon as possible and see how things turn out for you! 3. Read Contemporary Psychology When you find out exactly what’s going on in the field you’re participating in, that’s arguably the best kind of stimulation. Because not only do you learn new stuff, you’re also learning new stuff that is literally being discovered during the time that you’re alive – and it renders an additional element of historicity to the events! So, the more you read, the better you will be at facilitating your psychology project ideas – and that’s a guarantee on our part! Also Read: Psychology vs Physiology Get Started With Psychology Projects Today! No matter which level you’re on or what your future goals are, you can always benefit from psychology projects and psychology project ideas! They help you keep pushing forward, and putting in that little bit of extra effort everyday will surely take you places. So, get started on a psychology project today, and see where it takes you – it may even change the way you’ve approached psychology so far!

by Akshay Suple

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01 Feb 2021

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