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MSc Economics Syllabus, Subjects, Yearly, Electives, Semester, Core, Colleges, Books

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Sounak Banerjee

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The M.Sc Economics is a two-year postgraduate course dedicated to economic research and analysis. It aims to introduce all the basic concepts of economics, finance and management. Students learn about various economic models and their effects based on various parameters. 

The core subjects of MSc economics are Microeconomics, Macroeconomics, Mathematical Methods for Economics, Econometrics, Advanced Indian Economics, Development Economics, History of Economic Ideas etc. 

See Also: Economics Courses

The top elective subjects in MSc Economics Syllabus are Development Studies, Game Theory and Information, International Economics, Public Economics, Political economy of Development, Economics of Marx etc. 

MSc Economics Course Details

Course Name MSc Economics
Course Level Masters
Duration 2 Years
Admission Process Merit based/Entrance Exam
Top Entrance Exam
  • CUET PG
  • BITSAT
  • NEST
  • IIT JAM
  • DUET
  • TISS NET
Eligibility Graduation from a recognized University
Top Colleges Indian Statistical Institute, Kolkata;
Symbiosis School of Economics, Pune;
Indira Gandhi Institute of Development and Research, Mumbai; and
Indian Institute of Technology, Kharagpur
Average Course Fees INR 20,000 - 2,00,000

MSc Economics Syllabus

Semester I Semester II
Development Economics Basic Econometrics
Microeconomics I Environmental Economics
Macroeconomics I International Economics
Money, Banking and Financial Markets Microeconomics II
Technical Communication Macroeconomics II
Mathematics for Economists -
Semester III Semester IV
Advanced Econometrics Departmental Elective 4
Public Policy: Theory and Practice Departmental Elective 5
Departmental Elective 1 Departmental Elective 6
Departmental Elective 2 Project
Departmental Elective 3 -
Seminar -

MSc Economics Subjects

Students must check the subjects of MSc Economics Syllabus before selecting this course. 

See Also: Business Economics Courses

MSc Economics First Year Subjects

  • Development Economics: Development economics deals with the economic aspects of the development process in low- and middle-income countries.
  • Basic Econometrics: Basic econometrics includes economic theory, mathematics, and statistical reasoning for quantifying economic phenomena.
  • Microeconomics: Microeconomics is the study of what can happen when individuals make decisions in response to changes in incentives, prices, resources, and/or production methods.
  • Environmental Economics: Environmental economics deals with environmental issues. This is a highly researched topic due to the growing environmental concern in today's world.
  • Macroeconomics I: Macroeconomics deals with the performance, structure, behavior, and decision-making of the economy as a whole. For example, interest rates, taxes, and government spending are used to regulate economic growth and stability.
  • International Economics: International economics deals with the effects of international differences in productive resources and consumer preferences on economic activity and the international institutions that influence them.

See Also: Macroeconomics Courses

MSc Economics Second Year Subjects

  • Advanced Econometrics: Advanced Econometrics focuses on modern econometric techniques, related to both technical derivations and practical applications. 
  • Public Policy: Public policy refers to a system of laws, regulatory measures, courses of action, and funding priorities concerned with a given topic promoted by a governmental entity or its representatives.

Syllabus of MSc Economics Related Courses

There are many courses that have similar subjects as compared to MSc Economics. The syllabus of similar courses is mentioned below. Similar courses include MSc Financial Economics, MSc agricultural economics are mentioned below: 

MSc Financial Economics Syllabus

Semester I Semester II
Microeconomics I Financial Mathematics
Macroeconomics Microeconomics II
Statistical Methods Econometric Methods
Mathematical Methods Financial Economics I
Semester III Semester IV
Applied Econometrics International Finance
Financial Economics II Risk Management-Theory and Practice
Stochastic Models Financial Regulation and Banking Supervision
Fixed Income Securities Empirical Methods in Finance
Economics of Insurance Financial Market Microstructure
Investment Banking Project Work (Phase-2)
Games and Information -
Project Work (Phase-1) -

MSc Agricultural Economics Syllabus

Semester I Semester II
Agriculture Production Economics Agricultural Marketing & Price Analysis
Linear Programming Methods Elementary Econometrics
Macroeconomic Theory and Policy International Economics
Microeconomic Theory and Application Research Methods for Social Sciences
Semester III Semester IV
Agricultural Price Analysis Seminar
Agricultural Input Marketing Master’s Research
Agricultural Development & Policies Project Evaluation
Agricultural Finance Project Management Elective
Elective -

MSc Economics Syllabus in Calcutta University

MSc Economics Syllabus in Calcutta University is mentioned below

Semester I Semester II
Microeconomics-I Microeconomics-II
Macroeconomics-I Macroeconomics-II
Mathematical Methods for Economics Econometrics-II
Econometrics-I Development Economics
Advanced Indian Economics History of Economic Ideas
Semester III Semester IV
Development Studies Indian Economics
Project-I Project-II
One paper from Group-A One paper from Group-A
One paper from Group-B One paper from Group-B
One paper from Group-C One paper from Group-C

MSc Economics Syllabus in BITS Pilani

MSc Economics Syllabus in BITS Pilani is mentioned below

Semester I Semester II
General Biology Probability and Statistics
Chemistry I Chemistry II
Thermodynamics Mathematics II
Mathematics I Physics II
Physics I Workshop Practice
Engineering Graphics Computer Programming I
Semester III Semester IV
Electrical Sciences I Structure and Properties of Materials
Mathematics III Electrical Sciences II
Computer Programming II Fundamentals of Finance & Accounting
Principles of Economics Principles of Management
Dynamics of Social Change Measurement Techniques II
Measurement Techniques I Technical Report Writing

MSc Economics Syllabus in Dr. BR Ambedkar School of Economics

MSc Economics Syllabus in Dr. BR Ambedkar School of Economics is mentioned below

Semester I Semester II
Advanced Microeconomics Advanced Macroeconomics
Quantitative Techniques in Economics [ Public Economics
Advanced Econometrics-I Advanced Econometrics-II
History of Economic Thought Game theory
Programming with R Advanced Research Methods [
- Programming with Python
- Internship
Semester III Semester IV
International Trade and Finance Dissertation
Indian Economy Political Economy
Monetary Economics Economics of climate change
Behavioural Economics Economics of climate change
Development Economics -
Financial Econometrics -
Global Financial Markets -
Economics of Banking and Finance -
World Economic History -
Labour Economics -
Introduction to Big Data Analytics -
Law and Economics -

MSc Economics Syllabus in Sister Nivedita University

MSc Economics Syllabus in Sister Nivedita University ismentioned below

Semester I Semester II
Advanced Microeconomics Economic Growth and Development
Advanced Macroeconomics Public Economics
Statistics Basic Econometrics
Mathematical Economics Advanced International Trade
Indian Economics Gender Economics
Semester III Semester IV
Advanced Econometrics and Game theory Dissertation/Project
Computer Tools for Economics -
Economics of Rural Development and Planning -
Labour Economics -
Advance Financial Economics -
Health Economics -

MSc Economics Syllabus in St Xavier’s College

MSc Economics Syllabus in St Xavier’s College is mentioned below

Semester I Semester II
Microeconomics-I Microeconomics-II
Macroeconomics-I Macroeconomics-II
Quantitative Economic Analysis-I Quantitative Economic Analysis-II
Development Economics Contemporary Issues In Indian Economy
Semester III Semester IV
International Economics Public Economics and Policy
Financial Economics Econometric Methods -II ( Elective Paper 3)
Econometric Methods -I (Elective Paper 1) Environment Economics -II (Elective Paper 4)
Environment Economics-I (Elective Paper 2) Dissertation

MSc Economics Syllabus (5 Years Integrated course) in Shri Mata Vaishno Devi University

MSc Economics Syllabus (5 Years Integrated course) in Shri Mata Vaishno Devi University is mentioned below

Semester I Semester II
Introductory Micro Economics Mathematics For Economist-I
Basic Statistics Probability & Statistical Methods
Basic Mathematics For Economists Programming And Data Structures
Introductory Macro Economics Money, Banking & Financial Institutions
Computer Applications For Economics Intermediate Microeconomics
Semester III Semester IV
Basic Econometrics Environmental Economics
Intermediate Macroeconomics International Economics
Public Finance Optimization Techniques And Game Theory
Economics Of Natural Resources Mathematics For Economists-Ii
Open Elective-I Human Virtues Open Elective-Ii
Semester V Semester VI
Financial Economics Basic Issues In Indian Economy
History Of Economic Thought Applied Econometrics
Agricultural Economics Public Economics
Industrial Economics Economics Of Tourism
Economics Of Growth And Development Risk Evaluation And Management
Semester VII Semester VIII
Advanced Microeconomics Advanced Econometrics
Time Series Analysis Advanced Macro Economics
International Trade: Institutions And Policies Law And Economics
Economics Of Health And Education Corporate Finance
International Finance Economics Of Information And Time
Semester IX
Big Data Analysis
Entrepreneurship Skill
Business Analytics
Programming Using R & Python
Advanced Financial Economics
Panel Data Econometrics

MSc Economics Top Colleges

Name of the College Average Annual Fees
Indian Statistical Institute, Kolkata INR 20,000
Symbiosis School of Economics, Pune INR 1,01,000
Indira Gandhi Institute of Development and Research, Mumbai INR 32,000
Indian Institute of Technology, Kharagpur INR 25,465
Indian Institute of Technology, Roorkee INR 26,500
University of Calcutta, Kolkata INR 2,314
Shiv Nadar University, Greater Noida INR 2,10,000
Narsee Monjee Institute of Management Studies, Mumbai INR 2,00,000
St. Xavier's College, Kolkata INR 168,000
Iit Delhi - Indian Institute Of Technology, New Delhi INR 42,900

MSc Economics Books

Name of the Book Author
The New Palgrave Dictionary of Economics Palgrave Macmillan
An Encyclopedia of Keynesian Economics Thomas Cate
A dictionary of economics Nigar Hashimzade, Gareth Myles

MSc Economics Syllabus: FAQs

Ques. What is MSc Economics?

Ans. The M.Sc Economics is a two-year postgraduate course dedicated to economic research and analysis. It aims to introduce all the basic concepts of economics, finance and management. 

Ques. Who can do MSc Economics?

Ans. For admission to M.Sc. Economics, it is imperative that applicants meet eligibility criteria. Students must obtain a Bachelor's degree with an at least 50% mark.

Ques. What are the core subjects of MSc Economics?

Ans. The core subjects of MSc Economics:

  • Macroeconomics
  • Finance Economics
  • Public Economics
  • Agriculture Economics

Ques. What are the electives in MSc Economics?

Ans. The electives in MSc Economics are:

  • Agriculture Economics and Policy
  • Financial Econometrics
  • Advanced Topics in Growth Theory
  • Industrial Economics
  • Ecological Economics
  • Introduction to Research Methodology
  • Economics of Infrastructure
  • Labour Economics

Ques. What are the top colleges for MSc Economics?

Ans. Indian Statistical Institute, Kolkata; Symbiosis School of Economics, Pune; Indira Gandhi Institute of Development and Research, Mumbai; and Indian Institute of Technology, Kharagpur are the top colleges for MSc Economics.

Ques. What are the job options after MSc in Economics?

Ans. The job options after MSc Economics:

  • Economist.
  • Financial risk analyst.
  • Data analyst.
  • Financial planner.
  • Accountant.

Ques. What is the average salary of MSc Economics graduate?

Ans. MSc Economics graduate salary in India ranges between INR 3.8 LPA to INR 40 LPA with an average annual salary of INR 14.3 LPA

Ques. What are the common entranc exams for MSc Economics?

Ans. The common entranc exams for MSc Economics:

  • CUET PG
  • BITSAT
  • NEST
  • IIT JAM
  • DUET
  • TISS NET

Ques. Is it worth doing MSc Economics?

Ans. Yes, it is worth doing MSc Economics as it can be the gateway to hundreds of job opportunities in various fields. Some of the popular job fields for M.Sc Economics graduates are Tax Department, Research Centers, Financial Companies, Banks, Private Organizations and more.

Ques. What are the project topics of MSc Economics?

Ans. The project topics of MSc Economics

  • Mathematics for Economics
  • Statistics for Economics
  • Econometrics
  • Advanced Indian Economics

Master of Science [M.Sc] (Economics) : 12 answered questions

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Ques. Which is better for M.S. in Quantitative Economics; ISI Kolkata or ISI Delhi?

● Top Answer By Akriti Banerjee on 18 Aug 23

Ans. Both ISI Kolkata and ISI Delhi are excellent institutes offering the MS in Quantitative Economics program. It’s difficult to compare the two as they have similar admission criteria, placement, and even scholarship opportunities. However, if I had been in your place, I would have chosen ISI Kolkata as it has more courses, professors, and students. The students get to interact with students in non-MSQE courses.Read more
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Ques. What is the average package for BITS Pilani Msc Economics

● Top Answer By Deepshikha Roy on 05 Aug 23

Ans. Usually, the students at BITS opt for a dual degree program along with a Master’s in Economics, which will give them more opportunities. The bank companies are looking forward to the students from the economics branch who possess skills, and they mostly visit BITS Pilani. The offer package ranges from 11-14 lakhs per annum. Other than this, the analytics companies also give placement to students in economics with a package of 8-9 lakhs per annum. This is the current package status for BITS Pilani in the Economics batch.Read more
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Ques. How is MSc. Economics in IIT Roorkee?

● Top Answer By Admin on 03 Jul 24

Ans. I am a student of MSc. Economics at IIT Roorkee. Here are some advantages of joining this institution for an MSc. in Economics: The classrooms and library are well-equipped at IIT Roorkee. The teaching quality is excellent. All the professors are very helpful and highly qualified. The department of Economics at IIT Roorkee conducts various programs to make its students industry ready. The students are guided on important topics such as how to crack an interview. The department students receive internship offers from prestigious organisations like RBI and Ministry of Finance, and the private sector. The hostel facilities at IIT Roorkee are excellent. The median salary offered to MSc. Economics graduates during placements is around INR 12 LPA. Based on all these factors, I would say that the MSc. Economics program at IIT Roorkee is worth opting for. Read more
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Ques. What can I expect after completing MSc Economics from IIT Roorkee?

● Top Answer By Anusha Rahaman on 12 Apr 23

Ans. A recently introduced course, MSc Economics at IIT Roorkee is slowly unfolding its plethora of opportunities. Being a technical institute the curriculum of this program has more analytical aspects giving the IITians an edge over non-IITians. The curriculum is at par with various top private and government universities in India as well as abroad.  IIT Roorkee has a lot to offer in terms of exposure in the form of conferences, seminars, workshops, lecture talks, and great infrastructure that help the students gain more than just theoretical knowledge. Career prospects  The internships and placements scenario is excellent with almost the entire batch getting placed in top government and private firms. You can go for a corporate job or even for higher education. Some job prospects of students of this program are consultant, policy analyst, business analyst, professor, data scientist, financial adviser, and statistician in the corporate sector. The most appealing job profile is that it is the Data Analyst IIT Roorkee provides excellent research opportunities outside India mainly because most of its professors have international exposure through seminars and conferences and offer constant assistance.  There are many who plan for a Ph.D. and attempt to clear their Ph.D. for the same The placements and career prospects for MSc Economics are in abundance but for MSc Mathematics you have the only option to go for Ph.D.Read more
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Ques. How is the MSc. economics at the IIT Kharagpur? What are the various future career options?

● Top Answer By Senjuti Gupta on 22 Mar 23

Ans. Integrated MSc Economics course at IIT Kharagpur is one of the few branches of IIT Kharagpur that has top recruiters offering high-paying jobs apart from Mathematics in Msc and other core branches of BTech. The course covers Micro, Macro, Statistics, Finance, Economics, Probability, and statistics along with Environmental studies. This course offers a plethora of job prospects for corporate recruiters like  Data analysts Business analysts Consultant for firms Accountants, Management Financial advisors in stocks or derivatives, etc., As far as the Government sector is concerned, some top roles include Indian Economic Services Grade B in RBI Specific posts in various sectors like NABARD Or other public and private banks However, if you are more inclined towards teaching then you can also become a professor in Universities. Other options include Civil Services, SSC Cgl, RRB, etc. You can go for the Integrated MSc. Economics at IIT Kharagpur and wait for the amazing opportunities it has to offer.Read more
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Ques. How is the MSc in economics in IIT Kharagpur?

● Top Answer By Ajay Diwan on 22 Mar 23

Ans. The Economics branch is slowly becoming one of the best branches of IIT Kharagpur. Integrated M.Sc. (5 years) in Economics opens with JEE rank 3615 and closes at 5439 as per JoSAA 2022. However, it’s not necessary to evaluate a course on the basis of its opening and closing rank because you can get your branch changed on the basis of your performance in the first year. A student has to obtain around 8.73 CGPA in order to get their branch changed to Economics. You will have to work very hard to get a high CGPA for branch change. Curriculum: I have entailed some topics covered over the semesters. For a detailed list, you can visit the official website. Indian Economy Public Finance and Policy Regression and Time Series Model Economics of Growth Applied Economics Banking Theory and Practice  You can easily go for Finance and Consulting jobs provided that you study well during these 5 years. The coursework of this department is always industry relevant to cope up with recent trends. Placements  The Integrated BSc and MSc Economics Median salary stands at INR 15 LPA and the top recruiters include CapGemini Cipla Cognizant Genpact IBM ICICI just dial Oil India Limited YesBankRead more
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Ques. What is the course curriculum of MSc economics at IIT roorkee?

● Top Answer By Rishabh Luthra on 12 Apr 23

Ans. The course curriculum of the MSc Economics at IIT Roorkee is well-designed to suit the industry trends. It offers both theoretical knowledge and analytical skills and is at par with reputed universities like ISI, DSE, LSE, IGIDR, and BGSE. Being a student of a technical institute will always work in your favor, especially in the case of analytical skills. The overall course structure is flexible and students are allowed to choose from a wide variety of electives.  During the initial 2 semesters, you will be taught various topics like  Microeconomics Macroeconomics Advanced micro/macro Development Economics International Economics Finance Econometrics Environmental Economics  The topics covered in the third semester are Advanced Econometrics Public Policy Industrial Economics Other electives  In the final semester, you will have to choose the courses yourself. Studies are not limited to the classrooms and exposure is provided through conferences, workshops, and lecture talks. These enlighten the students regarding the current economic policy changes and their impact.  Placement and internship opportunities are made by many reputed government and private organizations.Read more
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Ques. Is the M.Sc (Economics) + B.E. (Hons.) dual-degree from BITS Goa a better option than CSE from NIT Surathkal?

● Top Answer By Tezal Dahiya on 16 Sept 23

Ans. You must first introspect if you really like coding or not. CSE is a trendy branch these days because of the high packages it offers. But those who land a job in top brands are deeply interested in, and an expert of coding. If you are genuinely interested in coding, NIT Surathkal CSE is a great option for you. It’s a good college with a good campus life. I also pursued my dual degree with an MSc. in Economics from NIT Goa. The Economics department of my college is great. The curriculum is rich, and courses like Econometrics, MSM, Applied Econometrics, etc. are a great help when applying for placements in Analytics firms. Even for an MBA, an Economics degree is very useful. The faculty for Economics is great. MSc. Economics offers less burden than other specializations like Maths or Physics. The course offers very good electives like Security Analysis and Portfolio Management, Financial Management, etc. With a dual degree, you’ll get an extra year to choose your engineering branch. Now if you opt for a dual degree from BITS Goa, be prepared to work really hard. The crowd is quite competitive. You’ll need to work hard to manage two programs simultaneously. The fees at BITS are quite high in comparison to NITs. NITs won’t provide you top-notch lodging and food facilities like BITS. For higher education too, the BITS tag holds more value. The curriculum at NITs isn’t as flexible as that offered at BITS. Both are renowned colleges. You should make a choice based on your priorities.Read more
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Ques. Is it better to get a degree of an M.Sc. in Economics from IIT Kharagpur or BITS Hyderabad?

● Top Answer By Atul Sharma on 27 Mar 23

Ans. It’s better to talk about both institutes individually to make a more informed decision. IIT Kharagpur offers a 5-year Integrated M.Sc in Economics and has a wide scope today. There are many advantages to being a part of the IIT KGP family It has a rich culture Learn and explore new things  Branch change at the end of the first year  You can seek great help from seniors You get a lifetime tag of being an IITian Similarly, BITS Hyderabad too offers an integrated MSc degree in Economics. Additionally, you can add an extra major (BE course) in your first year, but this is optional. The institute has no lucrative points apart from the fact that it is a decent Engineering college sought by those who are unable to make it into IITs. Personally, I would suggest you go for an IIT because of the brand name and legacy. You won’t regret this decision later because of the IIT Tag that will already come to your rescue.Read more
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Ques. Should I choose ICT Mumbai (textile) or BITS Pilani Goa (M.Sc maths)? I have no particular interest but I wanted M.Sc economics at BITS.

● Top Answer By Shivam Bansal on 23 Oct 20

Ans. ICT (Institute of Chemical Technology), Mumbai has received ‘A++’ accreditation by NAAC. In the current year 2020, ICT (Institute of Chemical Technology), Mumbai has been ranked by the NIRF at 18 for its Engineering degree course offered. BITS Pilani (Birla Institute of Science and Technology), Goa has been accredited ‘A’ grade by NAAC and is duly recognized by the UGC, offering degree programs at undergraduate as well as postgraduate level in the field of science and technology. Admission: Textile degree in ICT (Institute of Chemical Technology), Mumbai: The candidate opting for a Textile degree in ICT (Institute of Chemical Technology), Mumbai is selected on the basis of entrance examination of GATE, GPAT. The total fees for the Textile degree in ICT (Institute of Chemical Technology), Mumbai is INR 1.53 Lacs. MSc Maths at BITS Pilani (Birla Institute of Science and Technology), Goa: The candidate opting for MSc Maths at BITS Pilani (Birla Institute of Science and Technology), Goa is selected on the basis of the entrance examination of BITSAT. The total fees for MSc Maths at BITS Pilani (Birla Institute of Science and Technology), Goa is INR 4.13 Lacs. Placements: Textile degree in ICT (Institute of Chemical Technology), Mumbai: The top recruiting companies visiting the campus of ICT (Institute of Chemical Technology), Mumbai to offer placements to the graduates in the field of Textile are Tata Motors, Reliance, Johnson Johnson, Nerolac, Jacobs, ITC, Exxon, Cipla, Asian Paints. The average annual graduate salary offered for placement is INR 4.8 Lacs. MSc Maths at BITS Pilani (Birla Institute of Science and Technology), Goa: The top recruiting companies visiting the campus of ICT (Institute of Chemical Technology), Mumbai to offer placements to the graduates in the field of Maths are Bajaj Auto, Adobe, Oyo, Morgan Stanley, Uber, Dell. IBM, Flipkart, Genpact, Wipro, Intel, Cognizant, Amazon. The average annual graduate salary offered for placement is INR 6.15 Lacs. Both courses have their advantages and disadvantages. These are some of the key information about the two courses. Go through them and decide which will be better for you.Read more
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Master of Science [M.Sc] (Economics) Colleges IN INDIA

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IIT Delhi - Indian Institute of Technology [IITD]
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IIT Delhi - Indian Institute of Technology [IITD]

New Delhi, Delhi NCR
M.Sc(2 Yrs)10.0
₹ 1.9 L first year fees
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IIT Roorkee - Indian Institute of Technology - [IITR]
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IIT Roorkee - Indian Institute of Technology - [IITR]

Roorkee, Uttarakhand
M.Sc(2 Yrs)9.9
₹ 36.1 K first year fees
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BITS Pilani (Pilani Campus)
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BITS Pilani (Pilani Campus)

Pilani, Rajasthan
M.Sc(2 Yrs)9.9
₹ 6.04 L first year fees
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Tamil Nadu Agricultural University - [TNAU]
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Tamil Nadu Agricultural University - [TNAU]

Coimbatore, Tamil Nadu
M.Sc(2 Yrs)9.3
₹ 56.79 K first year fees
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Babasaheb Bhimrao Ambedkar University - [BBAU]
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Babasaheb Bhimrao Ambedkar University - [BBAU]

Lucknow, Uttar Pradesh
M.Sc(2 Yrs)8.6
₹ 3 K first year fees
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Pondicherry University - [PU]
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Pondicherry University - [PU]

Pondicherry, Puducherry
M.Sc(2-5 Yrs)8.3
₹ 26.24 K first year fees
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Kristu Jayanti College - [KJC]
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Kristu Jayanti College - [KJC]

Bangalore, Karnataka
M.Sc(2 Yrs)8.3
₹ 1.05 L first year fees
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University of Calcutta
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University of Calcutta

Kolkata, West Bengal
M.Sc(2 Yrs)8.2
₹ 8.69 K first year fees
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