Which open elective subject should I choose in MNNIT Allahabad in my eighth semester (consider decent CPI)?

You should definitely go ahead with international financial management. You will find this subject to be extremely helpful not only in your future career but also in your personal prospects. You will gain a lot of economic and financial information from this course, even more so if it is taught by Prof. Tanuj Nandan.

Here are some pros and cons regarding the same:

Pros:

• Concepts: You will always be interested to attend this class and give it your 100% attention. It is very interactive and more of a discussion between students and the teacher. Because of this, you will not need to prepare that much for the exam. All questions asked on it will be conceptual. They mainly check whether you have learned anything in class. You might not end up with an A+, but you will definitely learn something.
• Personal finance: With the professor’s teaching methods, you will become interested in finance and this will help you in your placements and navigating different components of your CTC, and filing tax details.

You will also be exposed to the world of stocks and markets and learn to invest better in debt instruments and mutual funds. This class will also enable you to understand and download all financial data completely. You can also think of doing a parallel MOOC in finance if you are interested enough.

Cons:

• The teacher has changed as far as I know so the teaching methods might differ a little.

In case you are looking for other electives, my friends had opted for Indian Social Organization and Human Resource Management. Another one of interest was Software Project Management.

If Professor Tanuj is taking your subject (since elective teachers keep changing) you should definitely opt for this elective. His teaching style is probably the best. You will love his class.