M.Phil Economics Course Details

Degree Masters
Full Form Master of Philosophy in Economics
Duration Course Duration of M.Phil. (Economics) is 2 Years.
Age No specific Age Limit
Minimum Percentage 50%
Subjects Required Post graduation degree in Economics or its equivalent discipline
Average Fees Incurred INR 2000 - 70,000 per annum
Similar Options of Study M.Phil (Commerce), M.Phil (History), M.Phil (Sociology) etc.
Average Salary Offered INR 5.11 L per annum
Employment Roles Postsecondary / Higher Education Assistant Professor, Research Scientist, Quality Control Analyst, Software Development Project Manager, Psychologist, High School Teacher, Market Research Analyst etc.
Placement Opportunities Sigma Aldrich Corp, Scientific Publishing Services, High Schools, Colleges and various other Institutions.

About Master of Philosophy [M.Phil] (Economics):

  • M.Phil. Economics or Master of Philosophy in Economics is a postgraduate economics course.

  • The course duration is two years and the course is an important and job oriented one.
  • Economics is the social science that analyzes the production, distribution, and consumption of goods and services.

  • Current economic models emerged from the broader field of political economy in the late 19th century.

  • A primary stimulus for the development of modern economics was the desire to use an empirical approach more akin to the physical sciences.

  • Some of the top M.Phil Economics colleges which offer the course are:

    • Loyola College, Chennai

    • Christ University, Bangalore

    • Presidency College, Chennai

  • Economics aims to explain how economies work and how economic agents interact.

  • Economic analysis is applied throughout society in various forums namely: business, finance, government, crime prevention, education, law, politics, religion, social institutions, war, and science.

  • The candidates who aspire to obtain an M.Phil (Economics) degree are required to meet certain eligibility criteria.
  • The expanding domain of economics in the social sciences has been described as economic imperialism.

  • The admission procedure varies from institutions to institutions.

What is Master of Philosophy [M.Phil] (Economics)?

What is Master of Philosophy [M.Phil] (Economics)?

  • Economics is mainly concerned with the manufacture, supply and consumption of merchandise and services.

  • Economics experts study economic information and suggest theories in the concerned field.

  • This course is designed to provide rigorous training in economic theory, its techniques and applications, and in quantitative research methods.

  • M.Phil provides the advanced knowledge and skills required for a career as a professional economist in public service or the private sector.

  • This course offers a well-constructed M.Phil Economics syllabus containing modules which build on core training and prepare you to undertake research.

  • The Master of Philosophy [M.Phil](Economics) course also contains various optional courses which are designed to develop knowledge and understanding of theory, techniques and debates within specialist fields of economics.

  • These include behavioural economics, development economics, economic history, financial economics, international trade, labour economics and public economics.

Why Choose Master of Philosophy [M.Phil] (Economics)?

Why choose Master of Philosophy [M.Phil] (Economics)?

  • There are abundant opportunities for those who have completed the PG(Postgraduate) programs in economics. They can seek out employment in public as well as in private undertakings.

  • The demands for true and dedicated professionals in the field of Economics is growing rapidly in the prevailing job market.

  • The graduates of this course are offered services mostly in Government as well as in the Private sector which is offering very lucrative job packages for them.

  • They can work in rural development or in demographic studies.

  • Some also find M.Phil Economics job prospects abroad in reputable International Economic and Financial organizations.

  • The students also have an opportunity to proceed abroad for further studies and research work in this field.

  • In the initial stage of their career, they can expect a minimum scale of pay of about. Thereafter on gaining experience, they can go on to earn even higher than Rs 1 lakh per month.

Top Colleges for Master of Philosophy [M.Phil] (Economics):

Sl. No.

Name of College


Loyola College, Chennai


Christ University, Bangalore


Presidency College, Chennai


Jadavpur University, Kolkata


Guru Nanak College, Chennai


Atal Bihari Vajpayee Hindi Vishwavidyalaya, Bhopal


Jawaharlal Nehru University, Delhi


Tilak Maharashtra Vidyapeeth, Pune


Maharshi Dayanand University, Rohtak


Fatima College, Madurai

Eligibility Criteria for Master of Philosophy [M.Phil] (Economics):

Eligibility Criteria for Master of Philosophy [M.Phil] (Economics)

  • The minimum eligibility for this course is a post-graduation degree in Economics or its equivalent discipline.

  • The candidate must have passed post-graduation degree with a prescribed aggregate of 50% from a recognized university or its other equivalent exam.

  • An entrance exam is the preferred mode of admission by most colleges for this course. The candidates with their post-graduation results awaited can also apply for this course.

  • Some colleges additionally conduct personal interviews and group discussions and admit candidates based on the candidate's performance in these sessions.

Admission Procedure for Master of Philosophy [M.Phil] (Economics):

Admission Procedure for Master of Philosophy [M.Phil] (Economics)

  • For admissions in M. Phil. (Economics), the most common path goes through entrance exams. Most of the institutes conduct a separate entrance test for admission to the program.

  • After the entrance, candidates may have to undergo a counselling process as per the specific requirement by the university. Some of the universities follow this process by group discussion and personal interview. The scores at each stage are accumulated according to respective weights and candidates are selected on the basis of final score.

  • There are colleges which intake students on the basis of merit, group discussion and personal interview.

  • One can apply to these colleges through online or offline mode respectively.

  • The candidate must carry their documents and originals at the time of admission. They must fill the form carefully and submit the same before deadlines.

Entrance Exams:

  • Delhi University(DU) Entrance Test

  • Lovely Professional University(LPU) Entrance Test

  • National Eligibility Test (NET)

  • Jawaharlal Nehru University Engineering Entrance Exam(JNU EEE)

  • Madras School of Economics Entrance Exam

  • Delhi University entrance test

  • IGNOU Entrance Test

  • Anna University MA/M.Phil Entrance Exam

See Various M.Phil. (Economics) Colleges in India

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