M.Sc. in Applied Economics Top Colleges, Syllabus, Scope and Salary

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Sakshi Gupta

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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.

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.

Top Colleges for Master of Science [M.Sc] (Applied Economics)

M.Sc. in Applied Economics: Course Highlights

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

M.Sc. in Applied Economics: What is it About?

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.

M.Sc. in Applied Economics: Who Should opt?

Ideal candidates of the course would ideally possess the following skills.

  • Problem Solving Ability

  • Strong Judgmental Ability
  • String Analytical ability
  • Critical Thinking
  • Decision Making
  • Strong communication, coordination and negotiation
  • System evaluation and Analysis
  • Management of material and financial resource.

Top Institutes Offering M.Sc. in Applied Economics:

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

Eligibility for M.Sc. in Applied Economics

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.

M.Sc. in Applied Economics: Admission Process

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.

M.Sc. in Applied Economics: Distance Education/ Direct Admission

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
SRM University Kanchipuram

M.Sc. in Applied Economics: Syllabus and Course Description

A semester- wise breakup of the course’s syllabus is tabulated below.

Semester I

Micro Economic Analysis-I
Macro-Economic Analysis-I
Quantitative Methods-I
Public Economics-I
Indian Economic Policy-I

Semester II

Micro Economic Analysis-II
Macro-Economic Analysis-II
Quantitative Methods-II
Public Economics-II
Indian Economic Policy-II

Semester III

Participatory Rural Appraisal
International Trade & Finance
Economics of Education & Health

Semester IV

Economics of Growth and Development
Theory and Practice of Co- operation
Environmental Economics

M.Sc. in Applied Economics: Career Prospects

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.

Applied Economics
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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Master of Science [M.Sc] (Applied Economics) Colleges IN INDIA

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NSHM Knowledge Campus
Durgapur, West Bengal
1.78 L first year fees
1.01 L first year fees
1.31 L first year fees
NSHM Knowledge Campus
Kolkata, West Bengal
2.6 L Total fees