M.Phil. (Economics)

Economics is the study of concepts and principles in relation to economics. It is applicable in every industry. Every organization looks for Economics graduates in order to gain an advantage over their competitors. There is an abundance of opportunities for Economics graduates in many areas regardless of industry. They can seek a career as a professional economist with data research and analysis. The areas where job opportunities lie are banks, government, local authority, insurance companies, multinational companies, financial consultancies, finance companies, investment, and healthcare.

Thanks to the skills developed during this course, the graduates can apply the same to set up their own business and be a successful entrepreneur. The top recruiters who are always on the lookout to hire fresh talent in economics are listed below:

  • AON Hewitt
  • Tata Consultancy Services
  • Accenture
  • Canara Bank
  • Godrej
  • Samsung
  • Airtel
  • Axis Bank
  • Coca Cola

M.Phil. Economics: Job Profiles

The economics graduates can work for top companies at different job profiles. Some of them are displayed below in the table.

Designation Description
Quantitative Modelling Manager Quantitative Modelling Managers use Statistical methods, modeling and research to analyze Financial behavior.
Research Analyst A Research Analyst prepares reports on equity securities.
Economist An Economist studies the relationship between society and its economic system.
Fund Analyst A Fund Analyst provides Stock Market Traders with financial information, advice, and recommendation based on global investment data.
Equity Analyst/Financial Analyst An Equity/Financial Analyst research and determine which securities are likely to be profitable and help individuals or organizations make a financial decision.
Assistant Professor An Assistant Professor teaches Economics to students in colleges and universities.

M.Phil. Economics: Salary Trends

The Finance sector in India is projected to grow at a steady rate for the next few years and is supposed to generate as many as 20 Lakh new jobs in the next few years. With the growth in the industry, the finance sector will also experience a requirement for skilled professionals in research and analysis. This makes M.Phil. Economics a viable option for those who wish to pursue a career in the Finance sector.

An estimation of the latest salary trends in the field of finance and economics is displayed with the help of the graph displayed below:

salary graph for M. Phil. (Economics)

M.Phil. (Economics) : 5 answered questions

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Ques. Is it really difficult to get into PhD economics programs of universities like DSE, ISI or JNU with an M.A. Economics degree from IGNOU?

● Top Answer By Aarushi Kumar on 03 Nov 22

Ans. PhD or research is all about finding out new concepts. Thus we provide a deeper in already existing knowledge. PhD in Social Science is very much different from that of pure sciences, yet the goal is the same. As you know for doing research/PhD at the university level, the qualification required is PG degree. Every university has different criteria for selecting candidates. As you know DSE, JNU, ISI, IEW, IIPA, and IIMs are the prime institutions for teaching, learning and researching in economics, management and public administration. If you are willing to get into one of these institutions, a Master’s from IGNOU will have the same value as that from any other university. To get selected into these prestigious institutions, you will have to pass through a rigorous selection process of Entrance Group discussion  Personal interview  Moreover you will have to provide testimonials from your professors about your academic developments.Read more
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Ques. I have completed my MBA With specialization in rural development am I eligible for phd economics

● Top Answer By Tithi Aggrawal on 16 Sept 23

Ans. In order to determine your eligibility we must go through the eligibility criteria of the Ph.D. program offered by JNU Delhi. To get admission you must have a Master’s Degree/BE/B.Tech with 55% marks or equivalent Grade ‘B’ in UGC 7-point scale. There is no specific specialization mentioned that makes you eligible for admission to the Ph.D. in Economics program at JNU. Furthermore, you will be invited for a viva voce examination. To be eligible for this you must secure the following marks out of 70 in the written examination for doctoral courses:  General Category: 35% (24.50 marks out of 70)  OBC: 31.50% (22.05 marks out of 70)  SC/ST/PH: 25% (17.50 marks out of 70) The final selection of candidates for admission to the doctoral programs of study is made on the basis of inter-se merit of candidates in their respective categories, based on their performance  in the written examination,  in the viva voce (wherever prescribed), and  after incorporating the Deprivation Points, wherever applicable. No candidate is eligible for admission to the doctoral programs of study unless he/she secures the following minimum overall score which is 40% for the General Category, 36% for the OBC category, and 30% for SC/ST/PH.Read more
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Ques. Which institute is better for a PhD in economics (in terms of exposure, curriculum, study methods, etc.), IIM Ahmedabad or IIM Bangalore?

● Top Answer By Pratik Parikh on 20 Oct 23

Ans. IIM is a brand in itself. IIM Ahmedabad and IIM Bangalore are prestigious institutes.  Both are equally good for a Phd in Economics. You may choose either of the two for your higher studies. You can also consider Jamia Millia Islamia for a Phd. A Phd. from this college is also highly valued. Look into the research interests of the faculty while making a choice. This is the most important factor that you should consider while choosing a college for your Phd.  Both IIMA and IIMB are a good choice for your higher studies. You must choose between them based on your goals. Read more
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Ques. How good are your chances to get into PhD economics at MIT/Harvard/Stanford after completing MA economics from DSE or MSQE from ISI Delhi/Kolkata?

● Top Answer By Debarghya Sanyal on 04 Sept 21

Ans. Getting admission to MIT, Harvard or Stanford can be possible from ISI Delhi. It has a very good Economics Unit. However, the same cannot be said about ISI Kolkata and also MSQE, for that matter. Do not expect to get into MIT or Harvard or Stanford by studying in ISI Kolkata. It goes without saying that you will have to have and maintain an excellent academic record to even be considered for admission to the institutes you aspire to study in. And you also must have a good reference with the faculty so that they can write letters of recommendation for you.Read more
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Ques. Between JNU and Delhi School Of Economics, which option will be the best to pursue a PhD in economics for an individual?

● Top Answer By Tithi Aggrawal on 04 Jul 23

Ans. Ph.D. is different from other degrees in which you learn and take exams. During your Ph.D. you need a research guide who takes an interest in your work and is involved in active research in the same field as you. Unless your guide is active in research, they can not guide you. Here research refers to publishable research in good journals. Your field of research will determine the better option out of the two to pursue your Ph.D. in Economics. If say, you wish to work on Marxism/Communism or related topics, CESP JNU is the right choice for you. You will find ample assistance in JNU. If you wish to work in Micro Theory such as on Contract theory or Industrial Organization, DSE will be the right option. There are more faculty members in DSE than CITD JNU who work in these areas. If you wish to work on DSGE literature ( Macro), the guide will exist as a formality and you will be on your own for the most part. This field of research is not pursued by most in India and you will mostly have to rely on yourself. Also, if you wish to work in the corporate after your Ph.D. , join DSE as it offers very good placements. JNU does not offer on campus placements. The economics at JNU though, is very enriching. There you will be exposed to a variety of subjects, debates, etc.  You must choose between JNU and DSE for your Ph.D. Economics, based on your personal preference and your field of research.Read more
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M.Phil. (Economics) Colleges IN INDIA

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Panjab University - [PU]
Chandigarh, Chandigarh
15.67 K first year fees
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10.75 K Total fees
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Presidency College
Chennai, Tamil Nadu
2.22 K Total fees
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17 K first year fees
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8.67 K first year fees
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