The Masters in Economics is a postgraduate degree in economics.Masters in Economics encompasses a comprehensive study of Economics, at an advanced level.The main difference between bachelors and Masters in economics is the extent of mathematical knowledge required of the student. In most of the universities, the duration of Masters’ in Economics program is two years. Post graduate Economics degrees are both theory-focused (preparing students for research as part of a PhD) and career-focused (emphasising professional skills and practical analysis). Assessment is usually in the form of a supervised dissertation and/or final examination. Some institutions also provide students with the chance to undertake relevant internships during the program. Applicants who have qualities like solving problems with logical thoughts, observation and inference from data, and presenting ideas in compelling writing and speech are ideal candidates for this course. Candidates, who want to contribute to India’s economic development and growth by their innovative techniques and policies, can opt for this course.
Institutes offering Masters in Economics:
In India some of the prominent institutions offering Masters in Economics are Delhi School of Economics, Indian Statistical Institute, Jawaharlal Nehru University and Indira Gandhi Institute of Development Research.
Students can also apply to University of Cambridge, University of Warwick, London School of Economics amongst other renowned universities in United Kingdom.In United States of America, they can apply to Boston university, MIT, New York University, University of Duke through their GMAT and GRE scores.
Masters in Economics Eligibility
•The basic eligibility criterion for pursuing M.A. (Economics) degree is graduation in any discipline.However, many reputed universities demand graduation degree in Economics or Economics as one of the subjects studied in graduation, from any of the recognised university/college for admission to Masters in Economics degree course.
•Some of the very reputed universities and institutes require a minimum of 45-50% marks in graduation as qualifying criteria to secure admission in this course and some also conduct entrance examination to get admission to their Masters in Economics degree course. Selection to the degree course in these colleges is based on marks secured in the final merit i.e. total marks aggregated in the final exams of graduation and the entrance exam.
Modules offered in Masters Program in Economics
The main economics topics covered include: economic theory, econometrics, macroeconomics, microeconomics, economics research methods, development economics, economic policy, game theory, international economics and mathematical methods for economic analysis. Some institutions offer preparatory courses in mathematics and statistics for students wishing to study Masters in Economics and do not have sufficient strong background in Mathematics. Many Universities also offer optional courses like Environmental Economis,Agricultural Economics,Monetary Economics,Labor Economics etc in the second year of the course.
Economics careers
A Masters in Economics offers a wide variety of career options from accountant to investment banker, money manager to personal finance consultant spread across a wide range of sectors and in many types of organizations. Common providers of placement include research agencies, consultancy firms, the economic advisory services of governments, banks and financial institutions or international agencies, universities, multilateral organizations and non-governmental organization. Masters in Economics degree serves as a basis for further higher studies and research in this field such as Ph.D. and M.Phil. Degree in Economics.On successful completion of this degree a student can apply for the UGC-NET or JRF exam and the success in these exams makes teaching or research as good options.Economics post graduates can take up research work in various fields of India’s national security problems including the international relations, geostrategic, geopolitical, socio-economic, tactical aspects of war, etc. The greatest scope after doing Masters in Economics is that it makes you eligible to qualify for the IES (Indian Economics Services) exam.