The MSc Applied Economics, also known as the Master of Science in Applied Economics, is a 2-year full-time postgraduate program designed to provide a solid theoretical understanding and industry-relevant skill development in the applied economics discipline. This allows learners to apply economic concepts, theory, and econometrics to address, investigate, and resolve problems of other industries, such as banking or finance.
To be eligible to apply for the course, candidates are required to have a minimum of 50%-60% aggregate score in a bachelor's degree completed in Economics, Mathematics, Statistics, or any other related discipline. Additionally, they are also required to qualify for the relevant entrance exam, such as the CUET PG, CET, or PUMDET.
Due to the low demand of the course amongst the learners, not many Indian colleges offer the comprehensive MSc Applied Economics program at the moment, with Presidency University and Institute of Management Studies being the leading ones doing so. The course fee ranges from INR 5,340 - INR 2,00,000, making it an extremely affordable course of study.
Additionally, course graduates get the opportunities to work with renowned national and international organisations in the positions of Economic Research Analyst, Economist, Economic Data Analyst, Economic Consultant, Public Policy Advisor, Head – Economic & Policy Strategy and more with the average entry level salary ranging from INR 3-8 LPA and experienced professional salary ranging from INR 20-40+ LPA.
Table of Contents
- MSc Applied Economics Highlights
- What is MSc Applied Economics?
- Why Study MSc Applied Economics?
- Who should study MSc Applied Economics?
- MSc Applied Economics Eligibility Criteria
- MSc Applied Economics Entrance Exams 2025
- MSc Applied Economics Colleges in India
- MSc Applied Economics Admission Process 2025
- MSc Applied Economics Syllabus
- MSc Applied Economics Job Opportunities in India
- MSc Applied Economics Vs MA Applied Economics Comparison
- MSc Applied Economics FAQs
MSc Applied Economics Highlights
The table below provides the key highlights of the 2-year MSc Applied Economics course:
What is MSc Applied Economics?
An MSc Applied Economics is a 2-year postgraduate program that explores the various ways in which economic theory and econometrics concepts apply to critical real-world challenges and how they can be utilized to contribute to effective decision-making across various industries and sectors.
The course curriculum can be described as highly analytical and rigorous that covers a variety of interdisciplinary subjects and is largely focused on the 3 major concepts of applied economics. These concepts include statistics and econometrics, macro and microeconomics, and mathematics.
During the 2-year course study, learners develop expertise in conducting scientific research and data analysis using advanced quantitative methods. They also learn to identify, investigate and resolve real-world economic challenges in business, finance, and the public sector, and are able to recognize and explore the social structures that underpin our society.
Why Study MSc Applied Economics?
MSc Applied Economics is a specialized study in the economics discipline that integrates theoretical and practical applied economics concepts to allow for hands-on skill and expertise development. Some of the major reasons for pursuing this course include:
- Multifaceted job opportunities: An MSc Applied Economics program, built on the foundations of mathematics, statistics, econometrics, microeconomics, and macroeconomics, prepares graduates for roles in diverse industries such as public policy formation, finance and banking, consulting, data analytics,research, international development, and more.
- Industry relevant skill set: As a practical intensive advanced study in the various aspects and elements of applied economics, an MSc Applied Economics graduate is equipped with expertise in industry relevant skills including, econometrics, data analysis and interpretation, statistical modelling using various technological software and tools etc.
- Global career opportunities: The MSc Applied Economics curriculum is UGC approved, making it a globally accepted and recognized degree, opening up potential international work opportunities for course graduates, especially with prestigious organizations like the UN and the World Bank.
Who should study MSc Applied Economics?
An MSc Applied Economics is an ideal course for individuals who want to advance their theoretical understanding and practical abilities in various facets of the economics discipline. Apart from that, other candidates that can be deemed perfect for pursuing this course include:
- Individuals holding PG degrees in Economics, Statistics, Mathematics or related fields with at least 50%-60% score.
- PhD aspirants who wish to undertake research in Economics or related disciplines.
- Working professionals in the corporate sector seeking to advance in their professions through specialized education.
- Economics or finance graduates seeking to transition to more economic-centric careers and industries such as public policy formation, economic consultancy, data analysis, health economics, and development, etc.
- Individuals looking to work for prestigious international organisations like the World Bank or the United Nations.
MSc Applied Economics Eligibility Criteria
Before applying for the MSc Applied Economics program, the candidate must ensure that they meet all of the course's eligibility requirements. The following is a detailed breakdown of the same:
- Candidates must have completed a bachelor degree such as BSc in Economics, Mathematics, Statistics or related fields from a recognized university.
- A minimum of 50%-60% score is ideally required in bachelor’s. Candidates belonging to reserved categories are often offered a 3%-5% merit relaxation over those belonging to unreserved categories.
- Some colleges also require candidates to pass the relevant university or state level entrance exam, such as the CUET PG/ PUMDET/CET.
MSc Applied Economics Entrance Exams 2025
To be able to secure a seat in the MSc Applied Economics program, the majority of Indian colleges require candidates to pass the relevant university or state level entrance exam. They have the freedom to choose the exam they want to take based on the college they want to pursue the course study from. The following are the essential details of these exams:
MSc Applied Economics Colleges in India
The scope and potential career prospects of the 2-year MSc Applied Economics program are largely undiscovered by the individuals, making it a less desired course of study, with only a few Indian colleges offering it at the moment. The table below provides information on the leading MSc Applied Economics colleges in India:
MSc Applied Economics Admission Process 2025
The majority of Indian colleges admit students to the MSc Applied Economics program via a structured counseling process based on a candidate’s bachelor degree and entrance exam scores. At Presidency University, this procedure typically involves the following steps:
Step 1: The MSc Applied Economics admissions at the Presidency University is carried out via the official website of the West Bengal Joint Entrance Examination Board (WBJEEB).
Step 2: The candidate, initially, is required to appear for the PUMDET exam. To do so, start by registering at the WBJEEB portal, the link to register is https://wbjeeb.nic.in/pumdet/.
Step 3: To register, provide basic details, including name, address, course name, mobile number and email address and click on "register".
Step 4: A unique profile of the candidate would be created on WBJEEB portal, use it to access and fill the PUMDET application form.
Step 5: To fill the form, enter all the personal and academic history information asked in the same and upload the scanned copies of the relevant documents in the format mentioned on the page.
Step 6: Pay the non refundable application form fee, costing approximately INR 500 through Net Banking/ Debit Card/ Credit Card. Verify all the details and click on “submit”.
Step 7: Wait for the PUMDET admit cards to be released and once it is released, download the same and appear for the exam as per the schedule mentioned on the same.
Step 8: The counselling begins only when the PUMDET results are out and the candidate can participate in the same through his profile on the WBJEEB portal.
Step 9: Fill-in a preference list with the names of 5-10 colleges and courses that the candidate wishes to pursue, ranked in order of priority. If he/she wants to pursue MSc Applied Economics from Presidency University, he/she should put it on top. Once done, submit the same.
Step 10: The merit lists are released on the WBJEEB Portal only and contain the names of the course and colleges allocated to the candidates on the basis of their bachelor degree scores and entrance exam ranks.
Step 11: The college that has been assigned to the candidate will also mail an official allotment letter to his/her registered email address.
Step 12: Complete the basic formalities mentioned in the mail to confirm a seat in the course.
Documents Required:
- 10th & 12th marksheet and passing certificate issued by the board.
- School Leaving Certificate
- Bachelor’s Marksheet
- Bachelor’s Passing Certificate
- Provisional Certificate
- Scanned Signature Image
- Coloured Passport Size Photographs
- Entrance Exam Scorecard
- Caste Certificate (If applicable)
- Identity Proof issued by the government (Aadhar Card/PAN Card/Passport, etc.)
MSc Applied Economics Syllabus
The 2-year MSc Applied Economics program is further divided into 4 semesters and has a Interdisciplinary curriculum with a focus on providing advanced and specialized knowledge. At Institute of Management Studies, affiliated to Maulana Abul Kalam Azad University of Technology, the MSc Applied Economics syllabus contains a blend of core, electives and practical subjects that is covered across various semesters in the following manner:
MSc Applied Economics Job Opportunities in India
MSc Applied Economics graduates are highly employable across a variety of industries, including public policy, finance and banking, consulting, data analytics, academia and research and more. As of 2025, the leading MSc Applied Economics jobs, based on their market demand and growth potential are as follows:
MSc Applied Economics Vs MA Applied Economics Comparison
MSc Applied Economics and MA Applied Economics, despite being nearly identical in nature and core curriculum, are slightly different from each other in terms of scope and career opportunities. The key differences between the two can be substantially explained by the comparison table provided below:
MSc Applied Economics FAQs
Can a MSc Applied Economics program be pursued online? What are its benefits?
Yes, an MSc Applied Economics program can be pursued online, however, it should be noted that such degrees are only considered valid if they are pursued from a UGC recognized university. In terms of benefits, online MSc Applied Economics programs are typically far less expensive and demand less time commitment than regular ones and provides candidates the flexibility to learn at any time and from any location they want. The coursework is delivered to them in the form of live, recorded and even audio lectures.
Is MSc Applied Economics and MSc Economics the same course?
No, an MSc Applied Economics and an MSc Economics differ in terms of scope and curriculum, despite being frequently misinterpreted as the same. An MSc Applied Economics is a highly practical course that focuses on advanced quantitative techniques using statistics, econometrics, and mathematics, as well as macro and microeconomics, whereas an MSc in Economics is a theory intensive study of the Indian Economy and other economic concepts and principles with a much broader scope.
Is a BA Economics graduate eligible to pursue the MSc Applied Economics program?
Yes, anyone who has successfully completed their bachelor's degree in Economics, Mathematics, Statistics, or any other related discipline is eligible to apply for the MSc Applied Economics program, as long as they have scored at least 50%-60% aggregate in the same.So, regardless of whether you have a BA Economics, a BSc Economics, or another degree, you can apply for the course.
Is it possible to pursue an MSc Applied Economics degree after MA Economics?
Yes, an MA Economics graduate can pursue an MSc Applied Economics course. When applying for the MSc Applied Economics program, universities typically look at the candidate's bachelor degree scores, so as long as you have a bachelor degree in Economics, Mathematics, Statistics, or a related discipline with at least a 50%-60% score, you can apply for the course. Also, while having an MA Economics degree is a plus, it has no significant impact on whether you can pursue MSc Applied Economics or not.
