Why Do People Pursue Ph.D. Degrees?


Blog / June 23, 2023

“The ultimate purpose of economics, of course, is to understand and promote the enhancement of well-being.” - Ben Bernanke.

Every generation has availed the contributions of the most significant discoveries and inventions since ages. The world around us developed many folds because of the numerous breakthroughs in science, mathematics and economics. To maintain a constant flow of money in our economic system, a lot of policies and research go behind that apart from other technical factors. With the uncertainty engulfing us as we move ahead in the future, our country needs more skilled and knowledgeable leaders who can pave new paths. In recent times, the need for qualified and experienced economists has become apparent more than before. The pandemic gave a massive blow to our economy, and skilled economists are needed to overcome these uncertain blows. 

According to the World Economic Forum, “The enormous scale, complexity and urgency of the challenges facing the world today call for more responsive and responsible leadership. This means leaders who have the vision and values, the character and competence, to shape the future while also balancing the polarities between short- and long-term goals.”

What is Ph.D. degree?

A Ph.D. degree or Doctor of Philosophy is a doctoral degree that is a three-year-long course. The duration of this course varies from one institute to another. Moreover, to be eligible for this course, candidates must possess a master’s degree to pursue the program. Various streams are available in which candidates can follow a Ph.D. program. During this course, aspirants usually select a particular subject or topic for conducting in-depth research. A Ph.D. degree holder is capable of becoming a responsive and responsible leader who can lead in an urgent and complex situation. 

Let’s look at the various reasons for pursuing a Ph.D. degree:

Accomplishing career goals: A Ph.D. degree improves the chances of getting employed in any industry. This degree opens up numerous career opportunities for the candidates. These candidates can also apply for lecturer or professor positions in the universities on their subject basis specialization.

Gaining transferrable skills: During this degree, a candidate learns many soft skills apart from writing their dissertation. They acquire transferrable skills that help them in any profession they get into. Skills such as public speaking, presentation of their work and demonstration of their theories are the few ones.

Passion for research:  Since a Ph.D. degree involves a lot of research work, these candidates develop excellent research skills. The sense of fulfillment and enjoyment are also the reason behind pursuing this course. 

Making an original contribution to your subject: Candidates who want to contribute in their field of study should opt for Ph.D. admissions. The desire to contribute towards society through their research work and thesis is also a reason behind pursuing this course. This helps the world to open up new avenues of research and throw light on previously underappreciated topics.

Demonstration of Intellectual Potential: This course boosts confidence among the students. A Ph.D. degree helps demonstrate an individual’s ability to conduct independent research and allows them to showcase their vast knowledge in their specific subject.  Ph.D. degree can be pursued through various colleges across India. For example, Shiv Nadar University offers Ph.D. degrees in multiple disciplines such as a Ph.D. in Physics, a Ph.D. in management, and a Ph.D. in economics. Let’s look at the various aspects of their Ph.D. courses:

Ph.D. in Economics: Their Ph.D. in economics program focuses on mechanism design, information economics, socio-economic institutions and information economics. Their program helps the candidates to acquire detailed knowledge of the structure of socio-economic institutions, ways to improve them, and their implications for society at large motivates research in this area. 

Ph.D. in Physics:  The physics department at SNU is quite active as it is continuously growing. This department focuses on experiments and theoretical matter of physics, nanotechnology, and materials for environmental applications. Their Ph.D. program in physics encourages and facilitates interdisciplinary research activities.  

Ph.D. in management: The Department of General Management, under the School of Management and Entrepreneurship, offers courses in the strategic areas of business: intellectual property rights (IPRs), communications, ethics and business law. This department also offers a Ph.D. in management where candidates deal with a wide range of issues and challenges revolving around the management of firms and organizations. This degree helps in training the candidates to become experts in their field.