M.Sc. in Economics: Course, Fees, Syllabus, Eligibility (2024)

What is MSc in economics?

MSc in economics or Masters of Science in Economics is a program of 2 years duration. Any graduate with honors in economics can pursue this course. This program is about studies in economics. It focuses on microeconomics, macroeconomics, time series analysis, econometrics, design of experiments, etc. It trains the students to sharpen their analyzing financial situations by applying some mathematical methods and logical methods. This course is a study of banking systems and financial operations. The average fees for this program range approximately from 40000 to 5 lacs. This course is a detailed study of economics-related theoretical concepts and practical applications of economical and mathematical concepts.

After a student completes their studies in MSC in economics, they are welcomed by new opportunities in this field from sectors like international organizations, economic consultancies, banks, institutes. It is a postgraduate course, and the examination type is semester-based. It is partitioned into four semesters.

This program is also open for distance education. Distance education in MSc in economics lasts up to 2 years; it trains students about economic theory and the practical applications of finance through numerous options. For the distance course, merit-based admissions are given, the score of a candidate obtained in graduation is considered during the admission process for MSc in economics, distance learning. The annual fees vary approximately from 7000 rupees to 10 lacs. However, this might differ depending upon the college or institution.

This course is a detailed study of subjects like game theory, quantitative methods, environment and economic development, econometrics, Indian economic development, mathematical modeling, ecological economics theory, trade and the environment, agriculture in global settings, advanced concepts, and applications, the study of mathematical models of conflicts, the economics of natural resources and many more.

Eligibility criteria forMSc in economics

For pursuing this MSc in economics, there are specific eligibility criteria that a candidate is required to fulfill.

  • Applicants should be a pass out of 10 + 2 from a recognized board.
  • Applicants must have cleared their bachelor's degree.
  • Their bachelor's degree must contain physics, mathematics, economics as the main subjects.
  • Engineering graduates are also eligible for this course.
  • In the previous degree, a candidate must have a score of a minimum of 60% from any recognized college or university.
  • Some institutes conduct an entrance exam for its admission process.
  • In such colleges, applicants have to crack the entrance test to pursue this course.

Scope ofMSc in economics

Once a student completes their degree in MSC economics, they would further find a wide range of career opportunities. Students can discover scope in financial organizations, in private sectors, and in government sectors as well.

If a student wants to opt for higher education and degree, they can choose study options such as a PhD or M.Phil in economics. They can also pursue a degree in the MBA finance sector.

The get variety of working in a variety of fields like,

  • Researching and analyzing economic issues.
  • Looking after the monetary aspects of an organization.
  • Analyzing and compiling information related to the economy.
  • Teaching the subject of economics in institutes, colleges, and universities.

Career options and job prospects afterMSc in economics

Given are some job profiles along with their average annual payments.

  • IES (Indian economic service officer), the annual average wage is 11,11,000.
  • Litigation consultant, the average salary is approximately nine lacs per annum.
  • Mutual funds manager, the average salary is about 8,00,000 per annum.
  • Economist, the average annual salary of this is 6,80,000.
  • Financial manager, the average salary is 6,45,000.
  • Policy analyst, the approximate salary is 6,45,000.
  • Professor, the average wage is 5,45,000.
M.Sc. in Economics: Course, Fees, Syllabus, Eligibility (2024)

FAQs

What are the requirements for MSc in economics? ›

Their bachelor's degree must contain physics, mathematics, economics as the main subjects. Engineering graduates are also eligible for this course. In the previous degree, a candidate must have a score of a minimum of 60% from any recognized college or university.

What is the fees for masters in economics? ›

MA in Economics Highlights

Varies depending on the institution. Generally ranges from INR 20,000 to INR 1,50,000 per annum for regular courses. Distance learning courses may have different fee structures.

What is the salary of MSc economics in India? ›

Economist salary in India ranges between ₹ 2.5 Lakhs to ₹ 38.0 Lakhs with an average annual salary of ₹ 16.2 Lakhs. Salary estimates are based on 229 latest salaries received from Economists. 1 - 11 years exp. 1 - 11 years exp.

What is the MSc in economics portion? ›

The program focuses on Microeconomics, Macroeconomics, Public Policy and International Trade and Finance. The course curriculum provides dedicated teaching in sixteen advanced compulsory courses and four elective courses. The Institute provides an interesting portfolio of twelve optional courses.

Can anyone do a masters in economics? ›

The one-year route is for students with a strong undergraduate degree in economics and a solid quantitative background, while the two-year route is designed for students who have a sound quantitative background but lack the necessary economic theory and knowledge in quantitative techniques for the one-year route.

Is MSc in economics hard? ›

A Master's in Economics is time consuming and hard work. However, those who accept this challenge will gain advanced knowledge and skills that can be used in policy analysis, business consulting, economic research, government agencies, and teaching.

How many years is a masters in economics? ›

Earning a Master's degree in economics typically involves two years of post-baccalaureate study, generally including courses in microeconomics, macroeconomics, quantitative analysis, and econometrics. Terminal Master's degree requirements generally include completion of a Master's thesis.

What is the cheapest economics university in the US? ›

South Dakota State University is an affordable accredited university for economics degrees. South Dakota State University offers an affordable degree in economics that will be a great fit for business-minded students. The school offers BA or BS in the field, focusing on: business.

What is the salary for Masters in Economics in USA? ›

As of 2022, economics professionals earn a median annual salary of $113,940, with the top 10 percent earning more than $207,230 annually.

Which MSc course has highest salary? ›

The Top 8 Highest-Paying Master's Degrees
  • Master of Business Administration (MBA)
  • Master of Science in Nursing.
  • Master of Engineering Management.
  • Master of Science in Petroleum Engineering.
  • Master of Science in Finance.
  • Master of Arts in Political Science.
  • Master of Science in Computer Science.
Feb 28, 2024

Is MSc Economics good? ›

A master's degree in economics can be a game-changer in today's job market. Beyond the promising career opportunities and competitive salaries, getting a master's in economics unlocks skills and opportunities that make this degree genuinely worthwhile.

Which MSc field has highest salary in India? ›

Few M.Sc course highest salaries in India are: Clinical Research Associate, Market Research Associate, Pharma Associate and Food Safety Analyst. 2. Which job has the highest monthly salary in India? Few highest monthly paid jobs in India are: Merchant Navy, IT & Medical Professionals and Engineering.

Why choose MSc economics? ›

The owner of a masters degree in economics is recognised by potential employers as a highly sought-after individual. Evidence for this comes from the employability surveys that regularly show the average salaries achieved by economics graduates is among the top 5%.

What is the qualification for Masters in Economics in India? ›

MA Economics Course Highlights
ParticularsDetails
Course Duration2 Years
EligibilityCandidates should have graduated from a recognised board and secured a minimum of 45%
Top Entrance ExamsIPU CET, PUBDET, UGC NET, CUET, etc.
Course FeeUp to INR 2 lakh
5 more rows
Feb 16, 2024

Is MSc economics better than MA economics? ›

It's also true to say that the MSc programme will better equip you for positions requiring advanced analysis, calculations, and research skills. But, on the other hand, an MA degree will likely pave the way for jobs that rely on theoretical knowledge and insight.

What are the requirements for MSc degree? ›

All master's degrees require the completion of a bachelor's degree and usually require an undergraduate GPA of 3.0. Many schools also require taking entrance exams like the GRE or GMAT.

Can I do a masters of economics without a bachelor's in economics? ›

Even students with little or no undergraduate coursework in economics can be successful in graduate study if they have the necessary mathematical and statistical preparation. Students interested in earning a masters degree in economics should have at least one semester of calculus and one semester of statistics.

What GPA do you need for a masters in economics? ›

For an unconditional acceptance, you must have a minimum 3.00 GPA from an accredited undergraduate institution from the last 60 credits of your degree, and a minimum GRE score of Verbal 150, Quantitative 150 OR a minimum GMAT score of 500.

Does a masters in economics require a lot of math? ›

Although economics graduate programs have varying admissions requirements, graduate training in economics is highly mathematical. Most economics PhD programs expect applicants to have had advanced calculus, differential equations, linear algebra, and basic probability theory.

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