M.Sc in Economics is a postgraduate degree having duration of two years. The course study helps the candidate to get knowledge in the subject matter of Economics and its sub fields. Mathematics, Statistics, Econometrics, etc are the main topics covered under this master level course. The candidates gain skills in applying economic theories and principles in forecasting and in preparing budget. Upon completing the course, the candidate gain skills to perform well in analytical, financial, advisory, administrative and research oriented jobs.

Advantages or Benefits of Doing Master of Science in Economics

There are various advantages for pursuing the course. The students gain skills to do well in banking and in financial service firms. The course also helps society in various means. The application of the same enables the effective usage of limited and scarce resources. Stability of economy is very much crucial for the development of our nation. Moreover, the candidate can find a lucrative career in financial organizations as well as in banks. The job opportunities are not restricted to financial firms, but also to all firms that deal with the application of economics.

Eligibility Criteria for Master of Science in Economics

The candidates who possess Bachelor degree in Economics are eligible to undergo M.Sc degree in Economics. Bachelor’s degree holders in Commerce as well as Business Economics can also apply for the course. Those who have completed their degree in any of the areas of Mathematics/Physics/ Engineering can apply. Most of the Universities insist 50% marks in the qualifying examination. The admission is offered either through an entrance test or on the basis of the marks in the degree examination passed.

Application Procedure for Master of Science in Economics

The details on admission and the course will be available in the official portal of the University or the institution that offers the course. The candidate should apply for the entrance test (if exists) or the course through the website. The fee charge for procuring the application form may vary with University. The application form must be filled by following the guidelines. Once the same got filled, it must be sent to the mentioned address before closure.

Colleges offering Master of Science in Economics

• Aliah University, 21, Haji Md. Mohsin Square, Kolkata, West Bengal
• Doon University, Motharawala Road, Kedarpur, PO Ajabpur, Dehradun, Uttarakhand
• Government College, Nattakom, Kottayam, Kerala
• Hindu College, Amaravathi Road, Gundur, Andhra Pradesh
• Indian Institute of Technology - IIT Kharagpur, Kharagpur, West Bengal
• Indira Gandhi Institute of Development Research (IGIDR),Gen A K Vaidya Marg, Goregaon (E),Mumbai-400065
• Indira Gandhi Institute of Development Research, Vaidya Marg, Santosh Nagar, Goregaon-(E), Mumbai, Maharasthra
• Jesus Mary Joseph College for Women, Sultanabad, Tenali, Gundur, Andhra Pradesh
• Meerut College, Meerut, Uttar Pradesh
• Nagaland University, Opposite Congress Bhavan, Old Sector, Complex P.O. Kohima, Nagaland
• Nalanda Degree College, Labbipet, Vijayawada, Krishna, Andhra Pradesh
• Nirmalagiri College, Nirmalagiri, Kannur, Kerala
• Pithapur Rajahs Government College, Madhav Nagar, Kakinada, Andhra Pradesh
• St. Joseph’s College, Thiruchirapalli, Tamil Nadu
• Stani Memorial P.G. College, I.I.R.M. Campus, Tagore Marg Manasarover, Jaipur, Rajasthan
• TERI University, the Registrar Plot No. 10 Institutional Area Vasant Kunj, New Delhi
• VidyaSagar University, Midnapore, West Bengal

Course Curriculum of Master of Science in Economics

Semester-I

• Microeconomic Analysis-I
• Macroeconomic Analysis-I
• Mathematics for Economists
• Economics of Development - I
• Public Economics

Semester-II

• Microeconomic Analysis-II
• Macroeconomic Analysis-II
• Techniques of Statistical Analysis
• Economics of Development - II
• Elective

Semester-III

• Historical Perspective of Modern Economics - I
• International Economics
• Industrial Economics
• Electives

Semester-IV

• Historical Perspective of Modern Economics - II
• Indian Economic Problems and Policy
• Environmental Economics
• Labor Economics
• Financial Economics

List of Electives

• Budgetary Theory and Practice
• Computer Applications in Economic Analysis
• Econometrics - I
• Economics of Social Sector
• Institutional Economics - I
• Welfare Economics III
• Advanced Mathematics for Economists
• Demography
• Econometrics - II
• Economics of Agriculture
• Economics of Law
• Economics of Gender
• Economy of Northeastern Region
• Experimental Economics
• Evolutionary Economics
• Institutional Economics - II
• Mathematical Economics

Reference Books on Master of Science in Economics

• Macro Economics: Theory and Policy by Ackley. G
• Mathematical Analysis   for   Economists by Allen
• Outline of Monetary Economics by Day A.C.L
• Monetary Economics by Gupta, S.B
• An Introduction to Input Output Techniques by Bez, K
• Foundations of modern macroeconomics by Heijdra, B.J. and F.V. Ploeg
• Monetary Economics by Lewis, M.K. and P.D. Mizan
• Macro Economics Analysis by Shapiro, E
• Macro Economics, Theory and Policy by Anuja H.L
• The Economics of John Maynard Keynes by Dillard, D
• Operation Research by Handry
• A Guide to Keynes by Hanson, A.H
• Fundamental Methods of Mathematical Economics by Chiang, A.C
• Theory of Eco Growth and development by Adelman
• Economics Population, by Ehrlich, P. Ehrich A. and Holden J
• Operation Research: An Introduction by Taha, H.A
• Theory and problems of statistics by Speigal, M.R
• Mathematics for Economists by Yamane, T
• Fundamentals and applied statistics, Gupta, S.C. and Kapoor V.K.
• Mathematical Analysis for Economists by Allen, R.G.D

Job and Career after Master of Science in Economics

Financial organizations are the major employers of economics graduates. They can also seek jobs with banking and in insurance firms. Governmental firms such as Indian Statistical Institute, Department of Commerce, etc are also in need of these candidates. They can also assist government in policy planning and in preparing budget. They can build up a good career in academics also. The various employment areas and the job profiles after the course are mentioned below.

Employment Areas

• Accounting sections of various corporate sectors
• Agricultural Economics
• Banking Sector
• Civil Services
• Commerce Sector
• Customs Department
• Econometrics
• Economic Consulting
• Economic Consulting Firms
• Finance Sector
• Import / Export Companies

Job Profiles

• Business Analyst
• Corporate Analyst
• Financial Analysts
• Investment Banker
• Investments Analyst
• Market Analysts
• Marketing Manager
• Money Manager
• Operations Manager
• Personal Finance Consultant
• Research Associates
• Securities Analyst

Remuneration after Master of Science in Economics

The salary packages offered for master degree holders in economics is really promising. This may depend on the organization selected for work and also with the job designation. Teaching jobs in government colleges offer salary of around Rs. 40,000/- per month. In industrial houses, a salary within the range of Rs. 20,000/- to Rs. 25,000/- per month at the initial stage can be expected. The compensation packages may get higher with experience and better performance.