MSc Economics Admission Process

The average annual salary offered to successful postgraduates of the course ranges between INR 6 and 12 lakhs. Candidates can also go for higher studies like PhD in Economics. After completing PhD, the candidate will be able to attain jobs in various colleges and universities as faculty members.

Many colleges conduct an entrance examination for admission in MSc Economics. However, majority of the colleges grant merit-based admission to the course. Once the application forms are released, candidates will need to apply for admission to the respective institutions. 

The general admission procedure is discussed below:

• The application forms of most of the Universities are released every year in the months of May and June.
• The colleges then declare a cut off list for different courses after going through all the forms and analysing them completely.
• The students who fulfil the cut off are eligible to take admission to the course in that particular college or university.
• Also, there are some universities that conduct their own national level entrance examination for admission in their master courses.
• In some universities, selection of eligible candidates is done after evaluating their performance in qualifying examination, group discussion and personal interview.
• Around 60% weightage is given to the performance in the entrance exam and 40% is given to the percentage scored in Bachelors degree.

MSc Economics Eligibility Criteria

In order to pursue Master of Science in Economics, the candidate should meet the below-mentioned eligibility criteria:

• The students should have passed Bachelor’s degree from a registered board with a minimum of 60%.
• Degree holders in subjects such as Physics, Mathematics, Economics as well as engineering grads can apply for this course.
•  Along with the above criteria, some of the institutes such as IGIDR admit students on the basis of their performance in entrance examinations. 
• The other eligibility criteria vary from college to college, so the candidates are advised to check the respective college websites for confirmation. 

MSc Economics Entrance Exams

Most of the Universities offer admissions on the basis of merit and release their own cut off. However, there are some institutes that offer admissions on the basis of the entrance examinations. 

Some of the important Entrance examinations for this course are:

• IIT JAM : This entrance exam is conducted by the IIT Council to grant admission to various MSc courses offered in all the IITs of India. 
• ISI Admission Test : Admission to ISI is made through the entrance examination along with an interview session conducted by the Institute. 
• Symbiosis School of Economics Entrance Exam  : The College conducts its own entrance test for the admission. Selection of eligible candidates is done on the basis of entrance exam, qualifying exam, group discussion and personal interview.

How to Prepare for the MSc Economics entrance exams?

• Go through the syllabus of the entrance examination first.
• Many entrance exams ask mathematical questions as well. So, if you are not strong in mathematics, try to increase your hold. 
• Solve the past year question papers and practice the application based questions.
• For the application based questions, don't try to attempt the question in a hurry. Read the question twice or thrice, understand it completely and then attempt to answer. 
• You can also make key notes while attempting the application based questions. This will help you in avoiding reading the question again and again. 
• The key to crack any entrance exam is time management. So, while solving past year papers, try to solve it in a stipulated time. 
• Appear for the mock tests before appearing for the actual examination.
• Many entrance exams have negative markings, so don't attempt any question if you are not 100% sure.
• Make proper micro notes for revision, so that you can go through them before appearing for the examination.

How to get admission in a good MSc Economics college?

• The admission in MSc Economics course usually follows a merit- based system. Hence, higher the marks, the better are the chances of getting admission into a top university.
• However, some of the colleges offer admissions on the basis of the entrance examinations too. So, one must prepare for the entrance exam to get admission in a good institute.
• Apart from this, submit your course application to the colleges before closing of the application submission window.
• Remember key dates so that you stay updated with your admission process.

Read more on MA Economics course admission, job opportunities and future scope