MBA in Business Economics: Course Details, Eligibility, Admission, Fees

Duration

2 Years

Average Fees

INR 5 - 20 LPA

Lisha Gupta

Updated on Dec 1, 2022 by Lisha Gupta

Lisha Gupta

Updated on Dec 1, 2022 by Lisha Gupta

The two-year postgraduate programme known as the MBA in Business Economics key goals includes understanding economic concepts, learning about business-related difficulties, and developing the best solutions. Graduates from MBA programmes in business economics are equipped for jobs in banking, general management, and economic and development planning. The course details below will provide an insight into what can one get out of the course and where can one pursue the course.

MBA in Business Economics Course Details

Degree Masters
Full Form Master of Business Administration in Business Economics
Duration 2 Years
Age No age limit
Subjects Required Not Specified
Minimum Percentage A minimum of 50% average marks in graduation
Average Fees INR 5 - 20 LPA
Average Salary INR 10 LPA (Source: Payscale)
Employment Roles Banks, Investment Banking, Business Development, Stock Broking Firms, Financial Institutions, Industrial Organizations, Non-Profit Organizations, Export Companies, and Marketing Firms.

About MBA in Business Economics

MBA in Business Economics allows students to learn about various challenges in the service sector in the era of globalization and Privatisation. MBA in Business Economics gathers knowledge of economic principles and learn about business-related issues and get the best solution for them. MBA in Business Economics course fall under the umbrella of an MBA course

MBA in Business Economics subjects are Finance, Marketing, Human resource, Operations, Transport, Applied economics. MBA in Business Economics course prepares graduates for a career in banking, economic and development planning, and general management.

Table of Contents

Eligibility Criteria for MBA in Business Economics

As part of the MBA in Business Economics eligibility, students with their undergraduate degree must obtain a minimum of 50% aggregate and can apply for the course. Students must give the entrance exams that are required for admission.

Additionally, there is no age limit for admission and therefore, anyone can apply for the course. For admission, an MBA in Business Economics is an essential course that meets the current trends of the business world.

Who Should Pursue MBA in Business Economics?

A management programme that places a strong emphasis on business and economics is the MBA Business Economics programme. The following factors should be taken into account when selecting an MBA Business Economics programme for those who desire to stand out in their field.

  • Candidates must be really passionate about the subject.
  • A student should be able to enrol in the course if they have a Bachelor's degree in a related discipline with a 50% overall average.
  • After having at least one year of relevant experience, candidates can enrol in the course to hone and expand their management skills.

When To Do MBA in Business Economics?

MBA Business Economics provides a variety of career opportunities on a national and international level. A business economics MBA can be pursued at any time. A few factors that affect MBA in Business Economics include the ones listed below:

  • The optimal time to start an MBA in Business Economics is before you have at least a year of managerial experience in a particular sector. Gaining weight while being welcomed is a great thing, even if it is not required.
  • If candidates intend to pursue an MBA in Business Economics abroad, they must have three to five years of professional experience.
  • Before enrolling in an MBA Business Economics programme, it is advisable to have some resources on hand and work experience due to the high cost of the programme.

How To Get Admission for MBA in Business Economics?

The MBA in Business Economics admission process is either based on cut-off scores through direct admission or on the basis of marks obtained in the entrance exams. The admissions to the MBA courses do not differ according to the specialization that the students choose to pursue.

Students must ensure they know about the eligibility criteria when applying for the MBA in Business Economics course. Listed below is the admission process for MBA in Business Economics course: 

Apply For the Course

All invited aspirants would need to fill out the admission form online or offline by attaching all the documents in that format, including Aadhar card number, address proof, domicile, mark sheet 10th, 12th, and the final year graduation mark sheet. 

Selection Criteria

After the group discussion, the shortlisted students will appear for a personal interview with college/university experts. After the personal interview, students will appear for a group discussion, and then they can verify their documents in college/university, and after, they can pay their fees.

Types of MBA Business Economics

Aspirants can pursue the course in full-time or part-time mode. Below are the types of MBA Business Economics courses in detail:

Full-Time

A two-year, full-time MBA in Business Economics is available. Practical knowledge is more important than theoretical understanding in this line of work. A full-time course allows students to connect closely with teachers and other students, thus expanding their exposure, experience, and knowledge.

Part-Time

There is a part-time MBA in Business Economics. In this line of business, practical expertise supersedes theoretical comprehension. The advantage of a part-time MBA in Business Economics is, it allows candidate flexibility to work while studying.

Distance

When pursuing an MBA in Business Economics after having a bachelor's degree but lacking the time to attend traditional sessions, distance learning is the ideal option. Depending on the candidate's schedule, it takes two or three years to finish.

Students can appear for the entrance exams for admission to top colleges and universities. Selection for admission will be based on the merit list depending on his/her graduation marks. The selected candidate appears for GD (Group Discussion) and PI (Personal Interview).

Students, and management faculty asked questions to test their critical thinking capabilities, and the aspirants were selected based on those assessments. Listed below are the MBA in Business Economics entrance exams:

Students are required to pass the entrance exams offered by colleges or universities.

A Quick Glance at the Entrance Exams

MBA in Business Economics in India is one of the best courses to pursue to fulfil one's technological aspirations with management studies' aid. Listed below is the entrance exams pattern is given:

  • The exam patterns consist of different sections like logical reasoning, data analysis, and qualitative and quantitative ability.
  • The entrance exam duration is approximately three hours.
  • The pattern of the exam is online or offline mode according to the colleges/universities.
  • The exam pattern changes according to the colleges.

Study MBA Business Economics in India

The greatest MBA Business Economics courses are available in India. Depending on their preferences, candidates for the MBA Business Economics course in India have a range of options. Candidates must choose wisely based on the type of MBA in Business Economics being offered. Below is a list of the best colleges for MBA Business Economics in India:

Top MBA in Business Economics Colleges in India

MBA in Business Economics course is one of the top-rated courses in the current trend, and let's have a look at the top MBA in Business Economics colleges in India according to NIRF

MBA in Business Economics Colleges in India
Sl. No. Colleges Average fees
1 IIM Ahmedabad INR 23 LPA
2 FMS New Delhi INR 2 LPA
3 GIM, Goa INR 18.31 LPA
4 IIM, Nagpur INR 17 LPA
5 IIT, Kharagpur INR 9 LPA
6 IMI, Kolkata INR 10.5 LPA
7 FORE School of Management, Delhi INR 16.98 LPA
8 KJ Somiya Insititute of Management, Mumbai INR 16.62 LPA
9 IMS, Noida INR 8 LPA
10 IMT Nagpur INR 12 LPA

Top MBA Business Economics  Colleges in Bangalore

Below is the list of colleges which are the top MBA Business Economics colleges in Bangalore:

SL.NO.

Institutions

1

Jain University

2

SJCC

3

GITAM School of Business

4

KJC

5

St. Joseph’s College

Top MBA Business Economics  Colleges in Chennai

Below is the list of colleges which are the top colleges for MBA Business Economics in Chennai:

SL.NO.

Institution

1

SRM University

2

Madras University

3

DG Vaishnav College

4

MCC

5

ITM

Top MBA Business Economics  Colleges in Hyderabad

Check the Table below for the top colleges in Hyderabad:

SL.NO.

Institution

1

ICFAI

2

IBS

3

Institute of Management Technology

4

UoH

5

IPE

Top  MBA Business Economics  Colleges in Ahemdabad

Check the Table below for the top MBA Business Economics colleges in Kolkata:

SL.NO.

Institution

1

IIM

2

Nirma University

3

BAOU

4

MSU

5

BK School of Business Management

Top MBA Business Economics Colleges in Government Colleges 

Government Colleges that offer MBA in Business Economics are affordable and cater to the economically backward and financially despondent section of society. Here is a table of government colleges offering MBA in Business Economics:

Sl.No

Institution

1

Acharya Nagarjuna University, Andhra Pradesh

2

Bharasthidasan University, Bihar

3

Kakatiya University, Andhra Pradesh

4

KARE, Kerala

5

L.N.M Institute, Bihar

Top MBA Business Economics Colleges in Private Colleges

Numerous prestigious universities in private universities offer a range of MBA Business Economics programmes. Numerous famous schools and universities are located throughout the country. The top universities that offer an MBA in Business Economics are listed below:

SL.NO.

Institutions

1

NMIMS, Mumbai

2

SPJIMR, Mumbai

3

XLRI, Jharkhand

4

SIBM, Pune

5

Amit University, Noida

Study MBA Business Economics Abroad

Students may decide to enrol in an international programme in MBA Business Economics if they can afford it. The length of an international MBA Business Economics programme can range from one to two years, depending on the course, the college, and the nation.

Students may access some of the best facilities, lecturers, and resources, as well as a global perspective on the subject and various cultures when they study for an MBA in Business Economics abroad.

Top MBA Business Economics Colleges Abroad

The table below contains the list of some of the best colleges abroad for MBA Business Economics:

Institution

Fees 

University of Toronto, Canada

CAD 78,533.02

University of East London, UK

GBP 24,448.80

University of British Columbia, Canada

CAD 81,034.07

Technical University of Munich, Germany

EURO 20,474.12

Teeside University, UK

GBP 16,407.95

University of Alberta, Canada

CAD 40,350.30

Coventry University, UK

GBP 31,100.03

Texas University, USA

USD 51,190.40

London School of Business, UK

GBP 24,022.10

University of Greenwich, UK

GBP 46,742.32

Top MBA Business Economics Colleges in the USA

The USA is home to some of the greatest organisations and colleges in the world that provide the best programmes in MBA Business Economics. The following table lists the top American colleges and universities that offer an MBA in Business Economics:

SL.NO.

Institution

1

Harvard University

2

Texas A&M University

3

Northeastern University

4

Arizona State University

5

MIT 

Top MBA Business Economics Colleges in the UK

One of the most sought-after degrees offered by UK universities is an MBA in Business Economics. The best universities offering an MBA in Business Economics in the UK are shown in the table below:

SL.NO.

Institutions

1

Coventry University

2

London School of Business

3

University of East London

4

Teeside University

5

University of Liverpool

Top MBA Business Economics Colleges in Canada

Canada is a fantastic alternative to think about for your MBA Business Economics courses, giving a plethora of research opportunities to help you enhance your skills. Here are the top universities in Canada for MBA Business Economics:

SL.NO.

Institution

1

University of Toronto

2

University of British Columbia

3

University of Alberta

4

McGill University

5

York University

Top MBA Business Economics Colleges in Australia

Gaining knowledge and skills through an MBA in Business Economics in Australia can ultimately improve your chances of finding a job both in Australia and abroad. The best universities in Australia offering an MBA in Business Economics are shown in the table below:

SL.NO.

Institution

1

The University of Melbourne

2

University of Sydney

3

RMIT University

4

Victoria University

5

Deakin University

Fee Structure for MBA in Business Economics

The MBA in Business Economics duration is of two years and consists of 4 semesters. The average MBA in Business Economics fees ranges from INR 5 LPA to 10 LPA. Some of the MBA in Business Economics offering colleges are listed below according to their fees structure:

MBA in Business Economics Fee Structure
Colleges  Total Fee Structure (INR)
GIM, Goa INR 18.31 LPA
IIM, Nagpur INR 17 LPA
IIT, Kharagpur INR 9 LPA
IMI, Kolkata INR 10.5 LPA
FORE School of Management, Delhi INR 16.98 LPA

Syllabus and Subjects for MBA in Business Economics

MBA in Business Economics stream students learn about marketing, finance, organization design, human resources management, decision sciences, and operations management. It is the 2nd year in which the MBA in Business Economics course syllabus gets different. Students do not have any difference from that of 1st-year students of other MBA programs. Following are the key topics covered in the courses of the MBA in Business Economics Syllabus:

  • Business Analytics and Intelligence
  • Business Forecasting
  • Infrastructure Development
  • Indian and International Perspectives
  • Artificial Intelligence & Deep Learning
  • Multivariate Data Analysis
  • Optimization

Read More: MBA Business Economics Syllabus and Subjects

MBA Business Economics Course Comparison

The MBA Business Economics programme covers a variety of subjects, including Management, Principles and Communication to name a few.  The table that follows compares other courses to the MBA Business Economics programme.

MBA in Business Economics vs MBA in Economics

Below is a comparison between the MBA in Business Economics and vs MBA in HR:

Course

MBA Business Economics

MBA Economics

Full Form

Master in Human Resource Management

Master of Business Administration in Economics

Stream

Management

Management

Duration

2 years

2 years

Eligibility

Bachelors in relevant field with 50% 

Bachelors in relevant field with 50% 

Entrance Exams

CAT, XAT, GMAT, ATMA

CAT, XAT, GMAT, ATMA

Top Colleges

IIT Kharagpur, St. Xavier’s College, Jaipur

IIM Ahemdabad, IIM Kolkata, IMI Delhi, Amity University

Fees

INR 50,000 - 3 LPA

INR 30,000 - 10 LPA

Why Choose MBA in Business Economics Course?

An MBA in Business Economics is a degree that consists of understanding business data, problem-solving, business tactics, forecasting, and communication. Let's get to know more about Business Economics" Why choose MBA in Business Economics?" with three simple questions.

What is MBA in Business Economics All About?

MBA in Business Economics is a two-year-long postgraduate course that combines data, sorting, collecting the data, listing the data, processing out the best outfits, and then using it as statistical data and methods to transform data into business insights. An MBA in Business Economics helps formulate the dataset and what problems should be solved to increase the revenue of the business firm.

The MBA in Business Economics components of these programs is usually taken as electives and core subjects and focus on the business applications of data science with courses in big data, statistical applications, business forecasting, and optimization. MBA in Business Economics programs prepares students in business and includes extensive coursework in basic business fundamentals such as accounting, finance, marketing, and strategy.

MBA in Business Economics offers many benefits like networking opportunities, transferable skills, and high salaries; thousands of business professionals earn this degree every year, hoping to position students themselves for success in a wide range of industries.

What Does a Business Economist Do? 

Business Economists work with organizations to help them improve their processes. Business Economics students analyze to come up with new solutions to business problems and help to introduce these systems to businesses and their clients. 

Planning and Analyzing data to develop their knowledge and skills – and suggest new methods for its beneficial process. The work of business economics is related to the job role within a department. 

Project Management: Business Economists can either work for a company to work on projects for their employer. The business economist's involvement in a project can vary. They may not be present in the short-term, coming up with new ideas and solutions to money problems in a particular project.

Reasons Why MBA in Business Economics Can Fetch You a Rewarding Career?

Dynamic Environment: Business Economics provides immense knowledge of money measurement for companies and industries to survive in every business-changing dynamic environment. 

Career Growth in Business Economics: The MBA in Business Economics course helps to gain much knowledge in management that will reward your future benefits. MBA in Business Economics provides new opportunities and challenges to face in day-to-day life.

Read More: MBA Business Economics Jobs and Scope

Preparation Tips for MBA in Business Economics Course

Alumni of MBA: Learn from those who had gone before you in a Business economics course. Former MBA students of Business Economics can provide perspective information on various tips for preparing. Talk to those who already have completed their MBA in Business Economics from the top business schools. While the business school's admissions team can make arrangements for campus visits and provide introductions, it may be even easier to find current students on LinkedIn or Instagram. 

Surf the Internet: What you gain from an MBA in Business Economics program is problem-solving, management of funds, and leadership skills. If you want to build your career in the Business Economics area, you have to refer to books and the internet and explore them accordingly to your interest.

Concentration: Colleges provide the platform to gain more knowledge in a limited period and grow their career in business economics. It depends on the students how much they are concentrating on their studies.

An MBA in Business Economics program helps develop the leadership and money management skills needed to advance your career. But to achieve your goal and succeed in your program of choice, you first need to prepare your mindset for Business Economics.

Scope For Higher Education

Students/Aspirants completing MBA in Business Economics courses can get hired in professional groups like McKinsey and Company. MBA in Business Economics graduates can also choose to pursue their higher education like a PhD in Business Administration or pursue certification courses in Business Economics, artificial intelligence, or other technology-based courses. Some of the courses students can pursue are:

  • Ph.D
  • Certification course in Business Economics

Salary of an MBA Business Economist

An MBA in Business Economics can secure your future and help students get hired on job profiles of business forecasts, market research, forecasting, quantitative management, and project management. Some of the well-known opportunities available for MBA in Business Economics students are to get hired by companies like Accenture, HP, IBM, Cognizant, Tata Consultancy Services, American Express, and so on. The average MBA in Business Economics salary in India is approximately INR 10 LPA.

Read More: MBA Business Economics Salary

Career Options After MBA in Business Economics

Business economists can be implemented in any industry to find a real-time solution to the problems mentioned below. This stream has its importance in business that can help you to live your dream. With increased internet penetration, Business Economics has created its place to forecast and analyze data. After opting for an MBA in Business Economics, you can get employment opportunities for the following job titles:

  • Business Analyst.
  • Market Research Analyst
  • Economic Consultant
  • Financial Analyst
  • Bank Manager
  • Market Research Specialist
  • Investment Analyst
  • Director of Finance
  • Stock Broker
  • Insurance Underwriter
  • Risk Manage

Skills That Make You The Best Business Analyst 

MBA in Business Economics scope is rising in a current trend, and thus taking up a management course and learning analytical skills can help you advance in your career. By Master of Business Administration in Business Economics, you will gain the following skills:

  • Verbal Communication
  • Good Listening Skills
  • Ability to Understand Delegated Objectives
  • Being able to Run Meetings with Stakeholders
  • Knowing the Objectives Well
  • Being Diligent with Time Management
  • Documenting and Writing Reports

MBA in Business Economics Fee Structure

Other Category Courses

Loading...