M.Phil. Economics is a postgraduate research degree focused on advanced study and original research in economics, typically lasting two years. The program combines coursework in economic theory and quantitative methods with the completion of a research thesis, preparing students for academic, research, or policy-oriented careers.
To be eligible to apply for this course, the candidate must have completed a postgraduate degree in Economics or related discipline with a minimum aggregate score of 50%. In addition, they must qualify the relevant university or national level entrance exam, such as the CUET PG, UGC NET, CSIR NET, and so on.
M.Phil Economics is provided by several private and public Indian colleges, including the University of Delhi, Kurushetra University, Rajiv Gandhi University, Savitribhai Phule Pune University, Madurai Kamaraj University, and Manonmaniam Sundaranar University, and many others. The average course fee ranges from INR 1,000 to INR 1,50,000.
M.Phil Economics graduates are highly employable in a variety of diverse job roles, including Market Research Analyst, Economic Consultant, Quantitative Analyzer, Research Economist, Policy Analyst, Quant Analyst, and more. The average annual salary for these positions lies typically between INR 3-6 LPA for freshers and INR 18-40 LPA for experienced professionals.
Table of Contents
- M.Phil Economics Highlights Table
- What is M.Phil Economics?
- Why Study M.Phil Economics?
- Who should study M.Phil Economics?
- M.Phil Economics Eligibility Criteria
- M.Phil Economics Entrance Exams 2025
- M.Phil Economics Colleges in India
- M.Phil Economics Admission Process 2025
- M.Phil Economics Syllabus
- M.Phil Economics Job Opportunities in India
- M.Phil Economics FAQs
M.Phil Economics Highlights Table
An M.Phil Economics is a 1 year pre-doctor degree that is offered by multiple private and public colleges in India. The key highlights of this program are listed in the table below:
What is M.Phil Economics?
M.Phil Economics is a 1-year pre-doctoral program that provides students with a strong theoretical knowledge and rigorous training in economic theory, practical economics, and econometric techniques so as to assist them to easily advance into PhD studies and advanced research. This knowledge-intensive program includes a mix of core and applied economics disciplines that varies according to the different universities' curriculums and guidelines for the course.
The major topics covered under the M.Phil Economics syllabus include advanced microeconomics and macroeconomics theories, econometrics and quantitative methods, and research methodology, equipping learners to analyze markets, conduct economic and empirical analysis, carry out economic modeling using data, and participate independently in scholarly research.
Why Study M.Phil Economics?
As a pre-doctoral degree, M.Phil Economics provides a solid foundation for learners to pursue advanced courses such as a PhD or varied research prospects in the Economics or related disciplines. Other major reasons for pursuing this course include:
- Senior level and advanced career opportunities: Many working professionals pursue an M Phil in Economics program to develop specialized, advanced, and industry-relevant skills and knowledge to advance to leadership or senior level roles in their careers.
- International exposure and opportunities: Pursuing an M.Phil Economics helps learners to explore and make the most out of the various opportunities for global exposure and collaboration by improving their research skills, laying a solid foundation for further doctoral study, and providing direct access to a global network of economists.
- Competitive exam leverage: An M.Phil Economics degree offers a specialized and in-depth study of the various aspects of Economics and related disciplines, with a strong emphasis on foundational theoretical and quantitative subjects. This lays down a solid groundwork for learners to prepare for and pass competitive exams such as the UGC NET, IES, or RBI Grade B.
Who should study M.Phil Economics?
An M Phil in Economics is an ideal 1-year program for research enthusiasts who wish to conduct their own unique researches in Economics or related disciplines, other individuals who may also be deemed ideal for the degree include:
- Candidates having a minimum of 50% score in a postgraduate degree completed in Economics or related fields.
- Aspiring educators who wish to become Economics or related subject’s lecturers or professors
- Individuals aiming to pursue a PhD in Economics or a similar field.
- Working professionals with a PG degree in Economics or associate field who wish to advance in their careers through specialized and industry relevant studies.
M.Phil Economics Eligibility Criteria
To secure a seat in the M.Phil Economics program, most Indian universities require candidates to pass the relevant entrance exam, with only a handful of them accepting students solely on the basis of their merit scores. The detailed breakdown of the M.Phil Economics eligibility criteria is as follows:
- The candidate must have passed a postgraduate degree in Economic or related discipline and scored at least 50% marks from a recognised university.
- The candidate must qualify the relevant entrance exam while also meeting the basic merit requirements.
- Often, a personal interview round is also conducted to evaluate a candidate's communication skills and knowledge about the subject.
- Indian universities generally offer a 3%-5% relaxation in merit scores to the candidates belonging to the reserved categories.
Those interested in rural development, agri-markets, and food policy may consider the Ph.D in Agricultural Economics
M.Phil Economics Entrance Exams 2025
In practically all the Indian universities that offer the M.Phil Economics program, passing the relevant state or university level entrance exam is a fundamental prerequisite for admission into the same. The details of the top entrance exams for this course are as follows:
M.Phil Economics Colleges in India
An M.Phil Economics is a highly research and knowledge intensive pre-doctoral degree offered by multiple prestigious public and private universities in India. The major details of some of the leading Indian universities offering this 1-year program is listed in the table below:
Want to focus on financial systems or markets, check for Ph.D in Finance
M.Phil Economics Admission Process 2025
Despite being online, the admission procedure for M.Phil Economics is often described as a time consuming one, requiring candidates to qualify the relevant entrance exam, participate in a thorough counselling process, and ultimately fulfill the basic formalities to secure a seat in the course as per the allocated colleges and courses. At Manonmaniam Sundaranar University, this admission process involves the following steps:
Step 1: The admissions to M.Phil Economics at Manonmaniam Sundaranar University is through the UGC NET entrance exam and the candidate must prepare and appear for the same as per the schedule mentioned in his/her UGC NET admit card.
Step 2: Download the scorecard of the entrance exam once the results for the same are out and begin applying for the course at the official website of the university.
Step 3: Register at https://uds.msuniv.com/2025_admission/register by providing some basic details along with the official email address and contact number. Click on “proceed”.
Step 4: The candidate will then be able to view the application form. To fill out the form, enter the requested personal and academic history information and upload the scanned copies of the requested documents.
Step 5: Pay the non refundable application form fee costing INR 500 (Approx) using Net Banking/ Debit Card/ Credit Card. Click on “submit” to submit the form to the university.
Step 6: The university reviews all the applications received for the program and shortlists candidates on the basis of their combined scores in PG degrees and entrance exam.
Step 7: The university then releases merit lists on its official website in 3-4 rounds. The list contains the name of the candidates shortlisted for the M.Phil Economics program and the release schedule for the same is timely updated on the university’s website or admission portal.
Step 8: If shortlisted, the candidate receives an enrollment letter through his/her registered email and is required to visit the university for physical verification of his/her documents.
Step 9: On successful verification of the same, pay the first semester course fee to confirm a seat in the course.
Documents Required:
- 10th marksheet and passing certificate issued by the board.
- 12th marksheet and passing certificate issued by the board.
- School Leaving Certificate
- Bachelor’s Marksheet
- Bachelor’s Passing Certificate
- Provisional Certificate
- Coloured Passport Size Photographs
- Entrance Exam Admit Card
- Entrance Exam Scorecard
- Caste Certificate (If applicable)
- Identity Proof issued by the government (Aadhar Card/PAN Card/Passport, etc.)
- Signature
M.Phil Economics Syllabus
From Advanced Economic Theory, Econometrics, and Quantitative Methods to Research Methodology and Specialized Studies in Economics, the M.Phil Economics syllabus covers all the major aspects of the Economics discipline in a quantitatively demanding and critical thinking-based manner. At Rajiv Gandhi University, the course curriculum is divided into 2 semesters and covers the following subjects:
If your interests extend into how social structures influence economic outcomes, check Ph.D in Sociology
M.Phil Economics Job Opportunities in India
M.Phil Economics graduates are highly employable across a variety of industries, including banking and financial services, consulting and economic advice, public policy formation, academic, research, and even market research and analysis. Some of the leading M.Phil Economics jobs include:
M.Phil Economics FAQs
Is an M.Phil Economics a postgraduate degree?
No, an M.Phil Economics is not a postgraduate degree, although being recognized as such by several colleges. An M.Phil Economics has a more research-oriented curriculum than a standard postgraduate degree program and is equivalent to an intermediate degree between a Master's and a PhD degree. It can be referred to as a predoctoral degree, a post-master's degree, or a postgraduate academic research course.
Is it possible to pursue a M.Phil Economics program online or through distance learning? Does it hold any relevance?
Yes, it is possible to pursue a M.Phil Economics degree through distance learning or online curriculum, however, it should be noted that such online or distance learning M.Phil Economics degrees are no longer accepted or recognized by the UGC, making them almost irrelevant in terms of global acceptance, even if some private institutes may still offer them.
Is it possible to pursue an M.Phil Economics degree right after completing a bachelor’s degree in Economics?
No, as a pre-doctoral research-oriented degree, an M.Phil Economics cannot be pursued immediately after earning a bachelor's degree. Eligibility for the course requires candidates to hold a postgraduate degree in Economics or related discipline with an aggregate score of at least 50%, as such degrees ensure that the individual who has completed it possesses an advanced theoretical knowledge in economic discipline and is qualified enough to pursue this comprehensive pre-doctoral degree.
Can a student belonging to a Science background pursue the M.Phil Economics program?
Yes, students from any background can pursue the M.Phil Economics as long as they meet the course's basic eligibility criteria, which require the candidate to have completed a postgraduate degree in Economics or a related discipline with a minimum aggregate score of 50% in addition to passing the appropriate university or state level entrance test.
Are there any entrepreneurial opportunities available for M.Phil Economics graduates?
Yes, there are numerous entrepreneurial opportunities for M.Phil Economics graduates; they can start their own economic and financial consulting firm that provides economic analysis, forecasting, investment analysis and policy suggestions to others. They can also create a distinct service portfolio or develop effective products to enter the FinTech, Social Entrepreneurship, Data Analytics, E-commerce, or Academia industries with an innovative business idea.
What kind of job opportunities are available for M.Phil Economics graduates in the government sector?
There are various diverse job roles available for M.Phil Economics graduates in the government sector. They can find jobs in organizations such as the Indian Economic Service and the Reserve Bank of India, as well as in government colleges and ministries, as policy analysts, research associates, statistical officers, junior or senior economists, and more.
