M.Sc Economics is a postgraduate program that focuses mainly on economic studies and analysis and its applications in several sectors such as production, corporate, banking, etc which are the primed faces of the Indian Economy and the global development. The course is pursued under the sciences stream. The duration of the course is 2 years and it is equally divided into 4 semesters of study. The course provides major insights into basic science behind economics and financial operations along with the science of global economic development and statistics for economic analysis. The minimum eligibility to pursue this course is 50% in 10+2 exams with economics and math background from a recognized board and 50% in undergraduate studies in either economics or financial background from a recognized university.
The curriculum is designed to equally focus equally on theoretical and practical studies of various economics structures and study of Indian economics patterns which can be applied for economic analysis of various sectors in the country. Information Science Engineering Syllabus includes basic economics subjects like contemporary Indian economics and History of economics combined with in-depth economic analysis subjects and such as advanced microeconomics and advanced macroeconomics that can be deployed around various types of industries in India. It also deals with the statics in economics analysis and study of various specialized domains such as agricultural economics, trade & finance, Industrial Economics, and much more as elective studies. The amount of knowledge obtained from this course can also be expanded to several other sectors that contribute towards the growth and development of the Indian economy.
M.Sc Economics course makes way for talented individuals to work in major economy analysis and major economic/ baking conglomerates and also in much government economic strategy centers and even in television media and print media as an economic consultant. The job opportunities for graduates of this course aren't restricted to only the corporate industry but also many private banking and financial services companies and stock exchange companies and government-aided banks and economic research and development centers do hire M.Sc Economics graduates for operations.
M.Sc Economics Course fees may vary based on the university or college the student is willing to enroll in. Often, the course fee varies upon the materials and lecture timings provided by the university towards course completion. The average course fee charged by various public and private universities starts from INR 50 K-3.5 L per annum and also subjected to a decrease based on scholarships offered by universities.
M.Sc Economics graduates are among the high earners compared to other economic sciences graduates depending on their steady progress in the field that is very highly competitive. Owing to higher work rates and a high amount of technicalities associated with their job, they are often provided a higher pay scale than other domains in the economics and statistics field. The average MSc Economics salary in India is 8.53 Lakh per annum. The appraisals and incentives are subjected to experience gained and work ethics possessed by the candidate. There are several job openings for Economics Science in India, owing to a predominant surge in the Indian Stock exchange market owing to a major increase in a number of startups and Indian based companies that are readily offering services abroad.
|Full Form||Master of Science in Economics|
|Duration||Course Duration of Master of Science [M.Sc] (Economics) is 2 Years.|
|Age||No age limit|
|Minimum Percentage||50% in Under Graduation|
|Subjects Required||Contemporary Indian Economics, Socio-economic studies etc.|
|Average Fees Incurred||INR 50 K - 3.5 L per annum|
|Similar Options of Study||M.Sc (Development Studies), M.Sc (Statistics)|
|Average Salary Offered||INR 5 L to 10 L per annum|
|Employment Roles||Economy Analyst, Senior Business Analyst, Senior Economist,|
|Placement Opportunities||Reserve Bank of India, Department of Economic Affairs, PWC|
M.Sc Economics is a 2-year post-graduate science course in the field of economics science and research analysis. The course is divided into 4 semesters of study, which provides a greater emphasis on the subjects that are pursued in the undergraduate BA and B.Sc degree. A Science course specialized in Economics involves the efficient management of several domains such as Data Analysis and Business analysis along with financial analysis, which is regularly analyzed to construct a concrete business model for various economies. Their role is central to analyze various economic situations and crises in a particular sector and suggest and rephrase the business models suiting for massive recovery from the stage.
The minimum eligibility criteria for the course is a minimum of 50% marks in undergraduate studies from a recognized university preferably with an economics/ financial science background. The average tuition fee charged for the course in India ranges between INR 50,000 and 3 Lakhs per annum. The central role of the graduates of this course involves the implementation of efficient business models, which analyzes all economic factors such as import exports, logistical movements, Human contribution, development of work ethics, and market crash, the decline in stocks,etc.. This is a role that must be given more importance as they analyze several factors affecting the growth of the organization economically and will indulge themselves in development studies based on various economic scenarios.
M.Sc is one of the uprising courses in the post-graduate studies field. Owing to the importance of this course, there are many government and private universities that are offering this course. There are numerous M.Sc Economics colleges in India which provide higher standard education. Some of the M.Sc Economics colleges are as follows:
The job scopes of the graduates of this course are unbound, as the importance of economics studies in various domains is very high. Owing to the high job role, they’re often paid with lucrative pay scales in both public sector and private sector organizations.
The M.Sc Economics program is designed in a manner in which the subjects and the modules that will have a greater emphasis on Finance analysis and Economics analysis for every type of industries and domains which are major contributors towards the overall economy of the nation and also studies various developmental methods which can be implemented to improve the economic conditions of the organization during tough economic scenarios. Candidates who are interested in pursuing this course will get a greater amount of exposure in both theoretical and practical aspects of economic science such as the study of production, distribution, and consumption of goods and services.
The course demands high-level knowledge and proficiency in fundamental economics and further knowledge of financial studies. This course helps the students to get to know more about the inner aspects of various domains that are affecting the economic policy of a specified organization and the country as a whole and also enlightens the students on various business models that can be implemented to bring development statistically. An economic analyst plays a major role in analyzing various economic scenarios and proposes/alters business models suiting to the conditions that aim to provide maximum beneficiary to the organization even at difficult times.
Economists work in various domains such as government economics ministry, economic development sectors, private organizations, media, and news channels, etc. Economics research teams research various aspects of logistics distribution, consumption, and management. They also look forward to implementing several changes adapting to various scenarios and strategize their plans to tackle hindrances to achieve global economic stability. The following are some of the subjects which are included in the M.Sc Economics syllabus:
The minimum eligibility required to pursue this course is 50% in Undergraduate studies from any recognized university with Economics and financial studies backgrounds. Some Universities conduct entrance examinations based on which admissions will be provided. The job scope for the graduates of this course are pretty high owing to greater aspects of improving economy and the need for a proper economic structure and improvement of business/financial economics of various organization
M.Sc in Economics is one of the most demanding career choices among the candidates who are willing to venture into Economic analysis in various sectors. During this course, the students are trained for special skills so that they can occupy crucial positions in big organizations.
Economic Studies and science are among the most sought career options in the finance section of all domains. The course offers adequate training and knowledge for students to gain exposure both in the field of economic management of product-based industries, which will help them in a better understanding of the process and help them in developing optimum solutions to improve the socio-economic structure. This course equips the students with the necessary skills required to analyze various Economic scenarios and financial backgrounds and develop new methods to improve the situations without any drop.
An Economics Science graduate’s primary task is to ensure a stable economic and financial structure is implemented within the organization and if not, it’s their role to improve the structure by implementing new policies that aim at bringing stabilized structure even during crisis scenarios. As Economics analysis is a very important job role in any goods manufacturing and distribution organization the job scopes are very high for the graduates of this course. Owing to a major increase in the number of industries both indigenous and MNCs across India, there are plenty of job scopes for M.Sc Economics in India. Some of the M.Sc Economics scopes include:
The graduates of this course will often be offered lucrative pay scales due to their importance in the organization. Adding to that, Economic Science is one of the most sought after courses owing to the increase in the number of Economic analysis units in India that can offer them immediate jobs with lucrative pay scales.
Some of the essential course preparation tips for a candidate who wants to pursue M.Sc Economics are:
Get to know of the Syllabus: The syllabus of the course is one of the essential factors which a student should focus upon as this helps a student to focus during the time of the examination.
Make a Plan: Make a course plan that can help the student to plan according to the study of the work which enables them to keep both balanced.
Connect With Fellow Students and Experts: Start connecting with peers and experts who can help you with providing a clear idea of the course along with scope and knowledge exchange that might help you to excel in this course.
Keep Updated: It is required for the students to keep themselves on the latest business models adopted by popular names in the Economic analysis and manufacturing sector.
The following subjects are pursued in M.Sc Economics Syllabus:
|M.Sc Economics Syllabus|
|3||Mathematics for Economics|
|4||Statistics for Economics|
|6||Advanced Indian Economics|
|M.Sc Economics Syllabus|
|4||Development of Economics|
|5||History of Economic Ideas|
|M.Sc Economics Syllabus|
|1||Contemporary Issues in Indian Economy|
|M.Sc Economics Syllabus|
|2||Economics of Business Strategy|
The course fees for M.Sc Economics courses may vary based on the University/college that is offering the course. The average course fees may range from INR 50K to 3.5L per annum depending upon the facilities and infrastructure offered by the college/university.
The required eligibility criteria for admission to M.Sc Economics is that the candidate must have completed a Graduation degree from any recognized university with a minimum of 50% marks in the relevant fields of study with an Economics or financial science background.
For Certain Private Universities, Candidates are required to write entrance examinations conducted by the examinations body of the university and secure good ranks. Based on the scores obtained in the entrance exam combined with scores obtained in under graduation the university will release a rank list, based on which students are called for a counseling session and admissions. Some Universities provide admissions via direct method/ management quota, which is based on skills possessed and marks obtained at the undergraduate level.
In certain Government Universities such as IIT, students are eligible to avail scholarships based on their scores in entrance level examinations which will be provided on a stipend basis.
The M.Sc Economics admission process varies from university to university based on their standard the university offers and. The admissions can be done both online and offline methods. The candidates are required to register themselves on the official website of the college or provide the filled hard copy of the registration form within the deadline date.
Most institutes offering the course admit students based on performance in a relevant entrance test. Certain Universities expect good scores in national level exams such as HSEE. Most of the institutes conduct their entrance examinations based on which admission process is initiated. The candidates will be shortlisted based on scores obtained in entrance exams and their cumulative grade point acquired in an undergraduate degree and a rank list will be published based on it, upon which the students will be called for a counseling session.
Certain Private colleges have a direct admission method where the students are called for counseling sessions based on their application form and undergraduate scores along with skills possessed.
Economics analysis in goods manufacturing and distributing along with services is one of the key areas in the domain owing to the major role they play in improvement in economic and financial conditions using various analytical methods as a tool. This is done with the utmost care and only graduates of this course are skillful enough to manage the role of high risk professionally. Hence, the job scopes for the graduates of this course are generally higher owing to the increase in the number of food manufacturing industries in India.
Job Opportunities are available in plenty for a graduate in M.Sc Economics in both the public sector as well as the private sector. The Job roles offered will be of the highest level of employment owing to their knowledge and research-based experience that makes them qualified to handle job roles of higher magnitude and multiple domains. The most common roles the graduates work as are:
M.Sc Economics salary in India may vary based on the experience gained in the field and based on the skill set possessed. On average, graduates are entitled to receive INR 5L - 10 LPA in the initial stages and are subject to hikes and appraisals based on the experience gained.
Some of the top M.Sc Economics colleges in India are given below:
|Sl. No.||Name of the College|
|1||Indian Institute of Technology, Delhi|
|2||Indian Statistical Institute, Kolkata|
|3||Indian Institute of Technology, Kharagpur|
|4||Symbiosis School of Economics, Pune|
|5||Madras School of Economics, Chennai|
What is the difference between M.Sc Economics and M.A. Economics?
MSc Economics aims to provide a closer look at the economic, financial, strategic planning, and marketing along with statistics and econometrics that focus more on the science of economic structure. M.A. Economics aims to provide a closer look at the socio-economic issues, Economic resources, administration policies, and nonstatistical economic analysis subjects.
What is the M.Sc Economic duration in national level institutes?
While some national institutes offer this course for a duration of 2 years (Just like another postgraduate M.Sc Course), institutes like IIT, ISI, and much more offer this course as an integrated course with a duration of 5 years and a combined degree of economics with any other specialized degree.
How much can a senior economist earn in India?
A senior economist can easily earn upto 8 LPA in the initial stages and slowly will rise up to 13 LPA within 2-3 years of time owing to their seniority, experience, and difficulty associated with the job role.
Can non-economics bachelor's degree holders apply for this course?
Yes, they can apply for this course, provided they meet the required eligibility criteria laid by the university, and clear the entrance examinations.
What job roles can I apply for holding a M.Sc Economics Degree?
Graduates can apply as Government Economists, Economics risk analyst, Financial Risk Analyst, Data Analyst, Economic Consultant, Financial Planner, Accountant, Investment Analyst, Revenue Analyst, and many more job roles in various public and private sector companies.