M.Sc. in Applied Economics is designed to build skills in economic reasoning in eligible candidates, and train them in constructing and estimating economic models using quantitative techniques and econometrics. The course aims to build a firm understanding of the fundamental tools of economic analysis in students, for application in studies and analyses of economic issues and policies.
This is a 2-year postgraduate program, consisting of 4 semesters spread over 6 months each, and involving an advanced study of the concepts of microeconomics, macroeconomics, econometrics, and data analysis skills, among others. The basic minimum eligibility for application to the course is graduation from a recognized educational Board.
|M.Sc. in Applied Economics in West Bengal||M.Sc. in Applied Economics in Karnataka||M.Sc. in Applied Economics in Tamil Nadu|
The average fee charged for the course in India varies between INR 80,000 and 2,00,000, depending upon the institute offering the course.
Upon successful completion of the course, postgraduates are hired in capacities such as Data Analyst, Business Analyst, among other profiles in the analytics field. They are offered an average annual salary ranging between INR 4, 00,000 and 6, 00,000.
Listed below are some of the major highlights of the course
|Course Level||Post Graduate|
|Duration||2 Years (Full-time or Distance mode)|
|Examination scheme||Semester System|
|Eligibility||Bachelor’s degree in any specialization|
|Admission Process||Management entrance exam or direct admission|
|Course Fee||INR 80,000 – 2,00,000|
|Average Starting salary||INR 4,00,000 to 7,50,000|
|Job Profile||Data Analyst, Business Analyst|
The program attempts to build an understanding of economic theory in eligible candidates through training in the collection of data, data analysis and practical problem-solving abilities. The curriculum essentially involves concepts in advanced economic theory, touches upon past trends, and also new techniques and methods constantly introduced in the field.
Subjects of study such as Microeconomic Theory, Macroeconomic Theory, International Economics, Consumer Behavior And Price Theory, Introductory Econometrics , Economic Model Building are covered, taught in theory and also comprising the aspect of practical application.
Ideal candidates of the course would ideally possess the following skills.
Problem Solving Ability
Listed below are some of the top institutes offering the course in the country along with the respective locations and fees charged by each.
|Name of Institute||City||Average Fees|
|St Stephen’s College||New Delhi||INR 8,000 PA|
|Loyola College||Chennai||INR 5,900 PA|
|St. Xavier’s College||Mumbai||INR 13,800 PA|
|Madras Christian College||Chennai||INR 14,500 PA|
|The Oxford College of Science||Bangalore||INR 40,000 PA|
|Presidency University||Kolkata||INR 4,800 PA|
|Fergusson College||Pune||INR 4,700 PA|
|Presidency College||Chennai||INR 1,000 PA|
|St. Xavier’s College||Kolkata||INR 73,100 PA|
|Miranda House||New Delhi||INR 14,200 PA|
|Mount Carmel College||Bangalore||INR 42,500 PA|
|St. Joseph’s College Devagiri||Calicut||INR 4,500 PA|
The minimum criterion of eligibility needed to be met for admission to the course is graduation from a recognized institute/ university with a minimum aggregate score of 50%, and with Economics as one of the main subjects at the level of graduation.
The general procedure for admission to the course is merit- based, i.e. on the basis of the merit obtained by the candidate at the level of graduation. A few institutes also conduct entrance exams for admission to the course. Thereafter, rounds of personal interview may follow.
The course is also offered via the distance education mode at some institutes in the country. Also, students have the option of applying for direct admission under management quota.
Given below is a list of the top 10 colleges in India that offer direct admission to the course.
|Name of Institute||City|
|Lovely Professional University||Phagwara|
|BITS Pilani-K K Birla||Goa|
|Bodofa U.N. Brahma College||Kokrajhar|
|Doon University: School of Social Sciences||Dehradun|
|Amity University||New Delhi|
|Delhi School of Economics (Merit Based)||New Delhi|
|Narsee Monjee Institute of Management Studies||Mumbai|
|Techno India University||Kolkata|
|Symbiosis School of Economics||Pune|
A semester- wise breakup of the course’s syllabus is tabulated below.
|Micro Economic Analysis-I|
|Indian Economic Policy-I|
|Micro Economic Analysis-II|
|Indian Economic Policy-II|
|Participatory Rural Appraisal|
|International Trade & Finance|
|Economics of Education & Health|
|Economics of Growth and Development|
|Theory and Practice of Co- operation|
Applied economics draws on economic principles to provide practical solutions for an array of industries including agriculture, aviation, finance, government, and international and domestic banking, consulting, nonprofit. A background in Applied Economics enables practitioners to make educated predictions about financial trends and consumer habits.
For those working in the government sector, such skills are employed to affect policymaking decisions as well. Numerous banks, consulting firms, multinational companies, etc. need efficient professionals in this area for their own wealth management, and provision of comprehensive solutions.
Some of the popular avenues open to such postgraduates are listed below with the corresponding salaries offered for the respective positions.
|Job Position||Job Description||Average Annual Salary|
|Research Analyst and Director||They prepare investigative reports on equity securities, and revise facts, principles, and theories.||INR 3,00,000 to 4,00,000|
|Transportation Manager||They plan, organize and manage the work of subordinate staff to ensure that the work is accomplished in a manner consistent with organizational requirements. They direct investigators to verify and resolve complaints from shippers or customers||INR 4,00,000 to 6,00,000|
|Inventory Manager||In charge of the inventory in a warehouse, they lead a team of inventory or warehouse workers to receive and record new stock as it comes in and also move stock onto trucks or shelves as needed.||INR 3,00,000 to 8,00,000|
|Economics Professor||They teach, design course curricula, and academically assess students in colleges, schools, and universities.||INR 4,44,000 to 8,00,000|
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