Master of Science or MSc Economics is a 2-year postgraduate program, focusing on the field of Economics. It is usually divided into 4 semesters. The minimum eligibility criteria for the course is a bachelor’s degree in any stream, but preferably with honours in Economics, and a minimum aggregate score of 60%.
The curriculum of the course revolves around Microeconomics, Macroeconomics, Time series analysis and Design of experiments Econometrics, among other related subjects. After going through the course, the candidates will be able to analyse financial cases in a mathematical and logical way. Apart from these, the course sometimes also includes detailed study of financial operations and banking systems.
The average course fees in India ranges between INR 40,000 to INR 5,00,000 for the total duration. Upon completion of MSc in Economics Course, candidates can get employed as economists in various sectors such as central banking, international organizations or private sector firms such as economic consultancies. Government employment opportunities are also available in various government sector banks and financial organizations like RBI, SEBI, etc.
The major course details of MSc Economics are discussed in the table below:
| Course Level | Masters |
| Full Form | Master of Science in Economics |
| Duration | 2 Years |
| Examination type | Semester Based |
| Minimum Qualification | Graduation from a recognized University |
| Average Annual Fees | INR 20,000 – 2,00,000 |
| Average Salary Offered | INR 6,00,000 – 12,00,000 |
| Job Positions | Financial Analyst, Economist, Financial Manager, Policy analyst, Litigation Consultant, Mutual Funds Manager etc. |
| Top Recruiting Companies | Economic forecasting firms, data analytics companies, Public Sector units such as TERI, FICCI, NCAER, RBI etc. |
MSc Economics: What is it about?
- Along with the basic theoretical portions of economics, this course also covers the analytical concepts and mathematical concepts of economics in detail.
- Upon completion of MSc in Economics course candidates can be employed as economists in various sectors of economy such as central banking, international organizations or private sector firms such as economic consultancies. Government employment opportunities are also available.
- The job opportunities for the graduates in the field of Economics are huge in financial fields.
- MSc in Economics is one of the finest and most popular courses in the field of Economics.
- This course is always an in-demand course for the finance sector because graduates from this course will have adequate knowledge in the fields of both economics and mathematics.
- The course offers some of the finest jobs and internships in economic forecasting firms, data analytics companies, Public Sector units such as TERI, FICCI, NCAER, RBI etc.
- The average starting salary for the employees in these public sector organisations ranges between INR 4,00,000 to INR 6,00,000.
- The candidates will have an opportunity to work not only as an economists but also as an Economical data analyst.
- Some of the designations that one can expect in their career after completing MSc in Economics are Financial Analyst, Economist, Financial Manager, Policy analyst, Litigation Consultant, Mutual Funds Manager etc. in industries
MSc Economics Eligibility Criteria
In order to pursue Master of Science in Economics, the candidate should meet the below-mentioned eligibility criteria:
- The students should have passed Bachelor’s degree from a registered board with a minimum of 60%.
- Degree holders in subjects such as Physics, Mathematics, Economics as well as engineering grads can apply for this course.
- Along with the above criteria, some of the institutes such as IGIDR admit students on the basis of their performance in entrance examinations.
- The other eligibility criteria vary from college to college, so the candidates are advised to check the respective college websites for confirmation.
- The job opportunities for the graduates in the field of Economics are huge in the financial and banking sector.
- The job profiles offered Economist, Financial Manager, Policy analyst, Litigation Consultant, Mutual Funds Manager etc. in industries like economic forecasting firms, data analytics companies, Public Sector units such as TERI, FICCI, NCAER, RBI etc.
| JOB POSITION | JOB DESCRIPTION | AVERAGE SALARY OFFERED |
|---|---|---|
| Economist | An economist researches as well as analyze economic issues. Interprets and predicts market trends. | INR 6,18,617 |
| Financial Manager | A financial manager looks into the monetary aspects of the organisation you are working from. Manages a group of employees whom will be performing financial and budgeting activities. | INR 6,45,950 |
| Policy Analyst | A policy analyst as well as compiles information related to the economy. Helps in increasing awareness about public issues by recommending policies to the social and political groups. | INR 6,45,950 |
| Professor | You can teach Economics in institutes and universities after or while completing your Ph.D. | INR 5,45,000 |
| Mutual Funds Manager | The fund manager is basically in charge of what stocks, bonds or other assets the fund will buy with investors’ money. Essentially, the fund manager will function as a stock-picker. | INR 8,00,000 |
| Litigation Consultant | A litigation consultant is brought into a case, other than an attorney or similar employee, who helps a litigator improve the chances of winning a case by elevating the attorney’s performance. | INR 9,00,000 |
| IES (Indian Economics Service) Officer | IES officer works in the field of economic advice, economic administration and implementation of development of policy and programs. | INR 11,11,000 |