What is MSc Agricultural Economics?
MSc in Agricultural Economics is a 2-year post-graduate program also popularly known as Agrieconomics. In simple terms, MSc in Agricultural Economics is a branch of economics that deals with the study of enhancing the production, distribution, and productivity of agricultural produce through the application of economic principles and theories.
MSc in Agricultural Economics eligibility required that students are required to hold a Bachelor’s degree in Science with an aggregate of at least 50% marks.
Admission to MSc Agricultural Economics course will be done either on the basis of the candidate's performance in the Bachelor’s degree exam or on the basis of their performance in the entrance exams conducted by admission authorities.
MSc Agricultural Economics primarily focuses on increasing crop yield and land productivity but there are various other aspects to it.This course focuses more on practical and application-based knowledge rather than theoretical concepts.
This course covers a wide variety of topics risk management, agricultural finance, environmental and natural resource economics, supply chain management, and agricultural policies.
MSc Agricultural Economics Course Highlights
|Full form||Master of Science in Agricultural Economics|
|Examination type||Semester system|
|Eligibility||Bachelor’s degree in Agriculture or its equivalent|
|Admission process||Qualifying CET followed by GD/PI|
|Average Annual Fees||INR 10,000 to 2,00,000|
|Average Annual Salary||INR 2,00,000 to 10,00,000|
What is the MSc Agricultural Economics Admission Process?
Admission to this course is usually based on the score obtained by a candidate in an MSc entrance exam. Some of the major all India entrance exams conducted for this purpose are BHU PET, DUET etc. Some colleges also offer admission on merit basis. The various steps involved in the admission process are given below.
The guide for merit based Msc Agricultural Economics is mentioned below:
- Submit the application to the colleges or universities you are interested in.
- Maintain a good score throughout your Bachelor’s degree exams.
- In due course of time, colleges release their cutoff lists. Check if you are eligible for admission into the desired course.
- If eligible, visit the college and submit all the required documents.
The guide to apply for entrance exam based admission is as follows.
- Registration: Candidates have to register themselves for the entrance exams.
- Application form: Fill up the application form with all necessary details carefully.
- Submit documents: Scan and upload all required documents like mark sheets. Documents need to be uploaded in a specific format only, as specified by the institute’s application portal.
- Application fee: A minimal application fee is to be paid online during the submission of the application form. Payment can be done by all online payment modes.
- Download admit card: Admit cards are released once all applicants are judged for eligibility. The admit card must be downloaded and printed out to be used on the day of the examination.
- Examination: Prepare for the exam as per the syllabus and past papers. Appear for the examination on the date announced.
- Results: Based on candidates performance in the entrance exam, results will be announced.
What is the MSc Agricultural Economics Eligibility Criteria?
The eligibility criteria for MSc Agricultural Economics aspirants is not complicated and is as follows. It must be noted that the eligibility criteria will differ from institute to institute
- Must possess a bachelor’s degree in Agriculture or an equivalent degree from a UGC recognized university.
- Must have obtained an aggregate score of at least 60% or above in graduation as well as 10 + 2 (with a 10% relaxation of marks for ST/SC/PWD candidates)
MSc Agricultural Economics: Entrance Exams
In most of the colleges, the MSc Agricultural Economics admissions are done on the basis of the results in the entrance tests.
Some of the popular MSc Agricultural Economics entrance exams are provided below:
- BHU PET- The Banaras Hindu University conducts its Post graduate Entrance Test (PET) to fill seats in MA, MCom, MSc, MFA, MPA, MEd courses etc.. The exam will be held in computer-based mode, in 200 cities across India. The candidates who qualify this entrance exam will be called for counseling and seat is allocated on the basis of performance in the exam.
- DUET- Delhi University Entrance Test (DUET) is conducted by Delhi University in order to offer admission to aspirants in various UG, PG, MPhil and PhD programs. The entrance exam is conducted by the National Testing Agency (NTA) on behalf of Delhi University. Also check DUET 2021 Practice Papers here.
|Exam Name||Application Period||Date of Exam||Mode of Exam|
|BHU PET 2021||To be announced||To be announced||Offline|
|DUET 2021||To be announced||First or Second Week of June 2021||Online|
How to prepare for MSc Agricultural Economics entrance exams?
If your college includes an entrance test in the admission procedure, then you must be well prepared for it. So, here we are with some interesting preparation tips for you:
- You must be completely familiar with the exam pattern. Get to know the number of sections and the total number of questions that you have to answer.
- Knowing the syllabus properly is also of primary importance. You need to download the syllabus from the official website of the university.
- In most cases, you will be dealing with multiple-choice questions. If that is the case, then check whether there is negative marking or not.
- Another very good way to perform well is to appear for regular mock tests. This will make you accustomed to the type of questions and the examination patterns. Various educational institutes hold regular mock tests for the students.
- Revision is also an integral part of preparation. You need to revise all the chapters and the important topics properly. Otherwise, even after preparing all the chapters, you might not get a really good rank.
How to get admission in a good MSc Agricultural Economics college?
To secure admission into a top-ranked MSc Agricultural Economics college, a number of factors come into play. Some of the following tips will be helpful in that regard.
- Candidates need to have the minimum eligibility criteria of having 55% in the Graduation BSc in a relevant field.
- A good preparation for the entrance exam is always a safe option.
- Preparation must be started after announcement of application fill up that doubles up the chance of doing well in the exam.
- Checking the course curriculum, regular and visiting faculty as well exposure , internship will help the candidate to sort out the best college for them.
- Placement opportunity is a must on the checklist .The last few years record will be helpful to understand the placement condition.
MSc Agricultural Economics: Syllabus
A list of topics taught to the students pursuing MSc in Agricultural Economics is tabulated below:
|SEM- I||SEM-II||SEM- III||SEM-IV|
|Microeconomic theory and application||Research methods for social sciences||Agricultural finance project management||Seminar|
|Macroeconomic theory and policy||Agricultural Marketing & Price analysis||Agricultural development & policies||Master’s research|
|Agriculture production economics||International economics||Agricultural price analysis||Comprehensive|
|Linear programming methods||Elementary Econometrics||Agricultural input marketing||Project evaluation|
MSc Agricultural Economics: Top Colleges
The table below shows the best MSc Agricultural Economics colleges and universities that offer the course in a full-time mode
|University/ College Name||Admission Process||Average Annual Fees|
|LPU, Jalandhar||Merit-Based||INR 1,98,000|
|RIMT University, Punjab||Merit-Based||INR 1,30,000|
|Dolphin PG Institute of Biomedical and Natural Sciences, Dehradun||Merit-Based||INR 1,45,000|
|Suresh Gyan Vihar University, Jaipur||Merit-Based||INR 1,56,000|
|Sanskriti University, Mathura||Merit/ Entrance-Based||INR 60,000|
|Uttaranchal College of Biomedical Sciences & Hospital, Dehradun||Merit/ Entrance-Based||INR 1,20,000|
|BFIT Group of institutions, Dehradun||Merit/ Entrance-Based||INR 1,17,000|
|Amity University, Noida||Merit-Based||INR 1,35,000|
|BHU, Varanasi||Merit/ Entrance-Based||INR 1,000|
|MDU, Rohtak||Merit-Based||INR 20,274|
|Andhra University, Visakhapatnam||Merit/ Entrance-Based||INR 1,01,000|
MSc Agricultural Economics College Comparison
The tabulation below depicts the comparison made among the two top MSc Agricultural Economics colleges in India.
|Parameters||LPU Jalandhar||RIMT University|
|Overview||LPU is the first private university to be granted ICAR Accreditation by The Minister of Agriculture, Government of India||RIMT is one of the top private universities in the field of M.Sc in agricultural economics.|
|Eligibility||BSc (Agriculture)/ BSc (Hons) Agri or its equivalent with at least 60% marks or its equivalent||BSc (Agriculture)/B.Sc (Hons) Agri degree|
|Admission Criteria||Must have BSc degree with 60 % marks and Qualify LPU NEST||Merit basis i.e. based on marks obtained in the MSc Agricultural Economics|
|Duration||2 years||2 years|
|Entrance Exam||LPU NEST||No entrance exam|
|Average course fees/semester||INR 1,20,000||INR 49,900|
MSc Agricultural Economics Course Comparison
MSc Agricultural Economics vs MSc Economics
Both MSc Agricultural Economics and MSc Economics are master’s courses in the field of Economics. However, they are quite different.
Check the list of Top MSc Economics Colleges in India.
Check the table below for more comparative details:
|Parameters||MSc Agricultural Economics||MSc Economics|
|Objective||The objective of this program is to equip students with various tools to solve the problems arising in this sector||The objective of the course is to educate students about various aspects of economics namely microeconomics, macroeconomics, time series analysis, econometrics, etc.|
|Full form||Master of Science in Agricultural Economics||Master of Science in Economics|
|Duration the course||2 years||2 years|
|Examination system||Semester based||Semester based|
|Admission process||Entrance/ Merit-Based||Entrance/ Merit-Based|
|Eligibility criteria||Degree in BSc Agriculture or its equivalent with at least 60% marks in aggregate or its equivalent grading system.||Graduation Degree in any discipline with at least 60% marks in aggregate or its equivalent grading system.|
|Top Entrance Exams||LPU NEST, ICAR entrance exam||IIT JAM, ISI Entrance test|
|Subjects taught||International economics, Master’s research, Agricultural Marketing & Price analysis, Agricultural development & policies, Agricultural input marketing||Microeconomics, Macroeconomics, Time series, and regression analysis, Ecological economics, Indian economic development, Game theory|
|Average Course Fees||INR 1,000 to 2,00,000||INR 20,000 to 2,00,000|
|Average Annual Salary||INR 1,00,000 to 10,00,000||INR 6,00,000 to 12,00,000|
|Top recruiting companies/organizations||ICAR,Cargill,NABARD,Indian agriculture research institute,Rashtriya chemical & fertilizers Ltd.,ISPL||FICCI, NCAER, RBI, TERI, Data analytics firms, Other PSUs, Economic forecasting firms|
|Top Job roles||Agricultural consultant, teaching assistant, farming manager, commodity analyst||Economist, Financial manager, Litigation Consultant, Policy Analyst, Mutual fund manager, Economics Professor, Indian Economic service officer|
MSc Agricultural Economics: Future Scopes
Being a very popular discipline, MSc in Agricultural Economics course has excellent future scope. The students are exposed to numerous ways in which they can build their career:
- PhD: If one wishes to continue in the same field of education, the first program of choice is a PhD Agricultural Economics. It is a three to five year duration course and the eligibility criteria include having a MSc degree in Agricultural Economics or other related disciplines.
Also check top PhD Agricultural Economics Colleges in India here.
- MPhil - Students can also opt for a MPhil degree in a relevant field on completion of this course.
What are Job Prospects and Career Options after MSc Agricultural Economics?
- Agricultural Economics is an applied area of Economics that integrates various sectors. It delves into various sectors like finance, economics, agriculture, management, etc due to which creates a wider range of job opportunities for the students.
- Apart from agriculture it also includes opportunities into its allied sectors horticulture, fisheries, and animal husbandry.
- So it is quite evident that the job opportunities flow into various sectors. Some of the key employment areas include Academic institutions, Agri finance banks, FMCG companies, Food processing companies
Tabulation below shows some of the most common MSc Agricultural Economics job profiles and career prospects after completing the course are as follows:
|Job Profiles||Job Description||Average Annual Salary|
|Agricultural Consultant||Assisting farmers with pest control & farming techniques, soil testing, analyzing problems of excessive crop production & coming up with practical solutions for these problems in a sustainable manner||INR 1,50,000|
|Teaching Assistant||Their role entails interacting with children especially specially-abled ones & evaluating their development & physical well being||INR 2,43,000|
|Research Investigator||Performing surveillance for corporate/law/enforcement agency or individual clients||INR 6,40,000|
|Farm Manager||Supervision of farms, making decisions regarding the number of crops to be laid in each season based on weather forecasts, preparing planting & harvesting cycle schedule & acting as an intermediary between buyers & sellers for the maximum profit margin||INR 9,22,000|
|Commodity Analyst||Working on the medical studies designed to measure the effectiveness of a particular drug on a human body, working along with scientists or physicians overseeing clinical research & selecting people for drug/vaccine testing through various screening measures.||INR 7,50,000|
MSc Agricultural Economics: FAQs
Ques. Do I need to appear for a CET to enroll in this course?
Ans. Yes, you need to clear the cut-off score of CET conducted by the concerned university/institute.
Ques. Are there any scholarships available for this course?
Ans. Yes, there are various scholarship options available for the candidates seeking to pursue M.Sc in agriculture economics. To name a few – Netaji Subhas ICAR International fellowship, India Agri fellowship, University of Edinburgh international scholarship for agricultural science.
Ques. What is the scope of agricultural economics in India?
Ans. The scope of agricultural economics is very wide in India. Being an agrarian economy the career prospects in this area are quite huge ranging from agricultural economists to farm managers. The MSc Agricultural Economics postgraduates have an option to work with government & agricultural institutions as well as in the private sector.
Ques. How can I become an Agricultural Economist in India?
Ans. You need to have a BSc degree in Agricultural Economics, an MSc degree in Agricultural Economics, and a PhD in the same.
Ques. Which were the top recruiters in this sector last year?
Ans. UNDP, ICAR-IARI, Punjab Agricultural University, Cargill, ISPL, IFRC, Action for social advancement, Doon business school, Environment conservation Society.
Ques. Can I pursue an MSc in Agricultural Economics if I have a BA degree in Economics?.
Ans. Yes, you certainly can pursue an M.Sc in agricultural economics if you have a B.A. degree in economics
Ques. Can I work with NABARD and FCI post-completion of this course?
Ans. Yes, you can work as an Agricultural officer or manager in NABARD.
Ques. What are the top entrance exams one needs to qualify to pursue this course?
Ans. You need to qualify for the Common entrance exam conducted by ICAR, LPU, or the CET by the concerned university.
Ques. What would be my starting salary if I opt for this course?
Ans. That depends on your job profile but you can expect a starting salary of somewhere around INR 1,80,000.
Ques. Can I work in MNC in this sector?
Ans. Yes, you can work in various Agri-based corporate companies, Agri finance companies, and marketing firms to name a few.