MBE or Masters in Business Economics is a postgraduate course which is combination of management techniques along with economic theories. It helps a student in forecasting the market behaviours without losing on environmental facets that come along with it.
The basic eligibility criterion for admission in this course is a bachelor’s degree in any stream from a recognized university. This a two year course including four semesters. The average tuition fee for the course is around 30k - 50k in government institutions and around 2-3 lakh in private institutions for the entire duration and can even go to 8 lakh in some private colleges.
After completing the course, students can work as an environment policy maker, development officer, economics teacher etc. Average starting salary of a master’s student is 6 lakhs p.a.
Masters in Business Economics is about mixing analytics and theory into one. It gives a dual degree by providing a base in micro and macroeconomic principles along with quantitative techniques. With that it provides a thorough specialization in finance, marketing, operations, applied environmental economics concepts. It throws light on our social responsibilities which business administration brings about with itself and how environmental considerations should be met before planning on actions. With strong ground knowledge of economics along with management aptitude, one can easily do critical assessment of the international conditions and change in government policies.
The course cover various topics on theoretical foundation with a practical relevance attached to it for practitioners in private and government sector including Industrial economics, Times series and business forecasting, International marketing ,Global finance etc.
This course has a gain over others as it provides skills of financial forecasting along with market analysis and risk evaluation at different stages. It makes a person accept welfare aspects of the projects given along with social responsibilities. Also, it focuses on application especially in the developing economies.
The job prospects after this course is prosperous as it provides the right skill set to function as a manager or an economist. With the increasingly increasing business complexities, economically centred employees are an asset to the company. One can pursue Ph.D. in Business economics after this, M.Phil. in Business Economics or other Doctoral programs of Business and Public Policy if they wish to.
Any bachelor degree holder who has a keen interest in economics subject and has a analytical bend of mind should go for this one.
If the candidate loves to forecast trends in the market and make policies to overcome failures, this course might be a handful for him/her.
The duration of the course is set at full two years sub divided into four semesters. Where usually industrial training starts in the third semester and goes on till the end of fourth semester. In these two years, the curriculum makes it sure to develop a person fundamentally and critically.
There are many institutes offering this post graduate course, some of them are-
The basic eligibility for masters in business economics is a bachelor’s degree in any stream from a recognized university with a minimum of required aggregate percentage. Most of the universities require minimum 50% aggregate marks however this may differ for various universities.
Students in the last year of graduation can also apply for the same.
Basically a student can take admission in different institutes by either merit list followed by group discussion and interview or would have to appear for the entrance test accepted by the university , again followed by Group Discussion or a Case Study There are different state entrance tests to be taken by a candidate to secure their positions, like-
However, some colleges make a merit list based on 10+2+3/4 and conducts Group Discussion and Interviews .Finally, a final call is made confirming the admission.
For Delhi University, admission process starts in the month of October where the application forms are out and the final calls for GD/PI are made in March.
For Panjab University, session starts in September and admission process starts in June/July.
Usually the entrance test comprises of three topics, mainly, Quantitative aptitude, Reasoning skills, Verbal section. However some institutes even includes economics graduate level questions. All the questions are objective type.
There are certain universities like Himachal Pradesh University, Pune University etc which offer Masters in Business Economics through Distance Learning, where admission is on the merit basis and a degree is provided at the end of the course for the post graduation.