Updated on Oct 3, 2024 02:34 IST
Khushi Soni

Khushi SoniContent Writer

The Master of Philosophy (MPhil) in Economics is an advanced academic program that bridges the gap between a master’s degree and a doctoral program. This program is designed for students who wish deeper knowledge economic theory and its practical applications, preparing them for both academic and professional careers.

The MPhil in Economics typically spans two years and consists of coursework, research projects, and sometimes a dissertation.The Mphil course fee ranges from INR 7000 to INR 2 lakh. Some of the top colleges that provide MPhil courses are Amity University, Calcutta University and Jamia Millia Islamia, Delhi School of Economics and more .Many candidates pursue a PhD after completing an MPhil course whereas some candidates pursue an MPhil to increase their job prospects.

The degree opens doors to roles in various fields, where graduates can teach and conduct research. It also positions them well for careers in research institutions, think tanks, and international organizations like the IMF or World Bank. In the private sector, MPhil graduates are sought after for their analytical skills and can work in financial institutions, consultancy firms, and government agencies. Though MPhil Program is discontinued by UGC , however it is still offered by some Private university . Students who wish to have information about the same can go through this article .

 

Mphil in Economics Highlights : Details 

The table below gives overview of some of the important details related to the MPhil in Economics course such as the full form, course level, eligibility criteria, Entrance Exams, Fees, Average Salary, Job Profiles,  Top Recruiters and Top Colleges:

Aspect

Details

Course Level

Post Graduation

Course Name 

Mphil in Economics

Mphil In Economics Full Form

Masters in Philosophy of Economics

Eligibility

Master's degree with 55 per cent marks

Mphil Entrance Exam

CUET, TISSNET, PUBDET and BHU UET

Course Fees

INR 7k- 2L

Average Starting salary

INR 4 to 30 lakhs per annum

Top Recruiting companies 

Bank of Baroda,HDFC Bank, Alice Blue, Paytm Money, Deloitte Consulting Services , Axis Bank

Job position 

Financial Analyst, Stock Broker, Associate Researcher, Economy Analyst, Teacher, Senior Business Analyst, Senior Economist, Trade Analyst, Marketing Manager and Branch Retail Manager

Skill developed

analytical, and problem-solving skills, such as financial management, market research, business planning, budgeting, resource allocation

Top universities

Banaras Hindu University, Jamia Millia Islamia, Hindu College, TISS - Tata Institute of Social Sciences, Jawaharlal Nehru University

Why Pursue Mphil in Economics?

  • Pursuing a Master of Philosophy (MPhil) in Economics offers several compelling benefits that make it an attractive option for students.
  • The MPhil serves as a strong foundation for those aiming to pursue a PhD in Economics. It offers a structured environment to refine research skills and develop a thesis proposal, making the transition to doctoral studies smoother. For students with aspirations of becoming university professors or leading researchers, the MPhil is an essential step towards achieving these goals.
  • It also positions them well for careers in research institutions, think tanks, and international organizations like the IMF or World Bank. In the private sector, MPhil graduates are sought after for their analytical skills and can work in financial institutions, consultancy firms, and government agencies.
  • The program offers a robust foundation for further academic pursuits, a variety of career opportunities, and the ability to make meaningful contributions to economic theory and practice.

Eligibility Criteria of MPhil in Economics

Different colleges have different eligibility criteria for admission to MPhil in Economics courses. Candidates who have completed an MPhil curriculum may be interested in pursuing a PhD programme. Those interested in pursuing an MPhil must first complete the eligibility requirements. The basic criteria remain the same for the majority of the institutions.

Particulars

Details

MPhil in Economics Academic Qualifications

Master’s degree in a related field

MPhil in Economics Marks Criteria

55% marks at the postgraduate level

MPhil in Economics Age Limit

No age limit

Popular Entrance Exam

There are two possible methods for students to get admission in MPhil in Economics either entrance exams or merit-based selection. Depending on the Institution and its admission criteria . Here's a general overview of some Popular Entrance Exam.

MPhil in Economics Entrance Exams

Dates of MPhil in Economics Entrance Exam

MPhil Entrance Exam Schedule

Common University Entrance Test (CUET)

Feb '25 - Apr '25

CUET Schedule

Jamia Millia Islamia (JMI) Entrance Exam

April, 2025

JMI Entrance Exam Schedule

PUBDET 2024

July, 2025

Presidency University Bachelor's Degree Entrance Test








Types of MPhil in Economics

There are different modes in which students can opt for MPhil in Economics according to their Convenience and choice :

Course Level

Description

Full time MPhil Course

Traditional mode with regular classes and research work. Requires a significant time commitment.

Part time MPhil Course 

Allows students to work or attend to other responsibilities while studying. Classes may be scheduled on weekends or evenings.

Distance MPhil Course

Online or correspondence-based mode with limited on-campus requirements. Suitable for working professionals. 

Online MPhil Course

This is only Online based course with online classes which gives comfort and flexibility.



Top MPhil in Economics Colleges

As MPhil in Economics offered in a variety of College. Candidates are advised to check if the college of their choice provides an MPhil in Economics degree in their preferred specialization. MPhil is provided in government as well as private colleges in India. Scroll down to have look to some Popular Colleges of MPhil in Economics:

College

Course fees

Delhi University

INR 20,000

Banaras Hindu University

INR 30,000

Jawaharlal Nehru University

INR 16,090

Hindu College, University of Delhi

INR 50,000

TISS - Tata Institute of Social Science

INR 2 L

Amity University, Noida

INR 5L- 12L

Chandigarh University (CU)

INR 75K-2L

Maharishi University of Information

INR 2L





174 Courses
0 - 30 K
8 LPA
60 Courses
120 - 12 L
8 - 9.5 LPA
22 Courses
51.6 K - 80.61 K
7.88 - 8.4 LPA

#1 India Today

1 Course
25 L
19.2 LPA

Humanities & Social Sciences Applications open till Oct 14, 2024. Apply Now

78 Courses
7.2 K - 60 K
4.8 - 8.66 LPA
83 Courses
240 - 10.89 K
5 - 15.5 LPA

Popular Private MPhil Economics Colleges in India

84 K - 13.2 L
3.4

#45 The Week

Humanities & Social Sciences Applications open. Apply Now

2.4 L - 3 L
3.2 - 3.3 LPA
4.5 L
7.26 - 7.55 LPA

#49 India Today

1 L - 13.84 L
4.3 - 5 LPA

Humanities & Social Sciences Applications open. Apply Now

3 L
78 K - 5.28 L
2.8 - 3.7 LPA

#105 India Today

Humanities & Social Sciences Applications open. Apply Now

Syllabus and Popular Specialization : MPhil in Economics

Syllabus of MPhill Economics may vary from colleges to colleges. Here is general overview of syllabus :

Semester

Syllabus

Semester 1

Advanced Economic Theory

International Trade and Finance

Semester 2

Welfare Economics

Theory of Economic Growth and Technical Progress

Semester 3

Development Economics
Public Finance

Semester 4

Agrarian Development

Economics and Environment 




Popular Specializations

Job Profile , Salary and Top Recruiters

MPhil  in Economics offers a variety of career paths.  You can go through the career scope, potential profiles, and top recruiters in the field and average Salary offered by them:

Job Profile

Details

Salary

Business Analyst

A business analyst is a professional who analyzes a company's systems, processes, and products to help improve its business operations.

INR 4-18 LPA

Investment Banker

An investment banker is a financial expert who helps clients raise capital and grow their businesses.

INR 6- 24 LPA

Financial Analyst

Financial analysts work in banks, pension funds, insurance companies, and other businesses. Financial analysts guide businesses and individuals in decisions about expending money to attain profit.

INR 4-11 LPA

Data Analyst

A data analyst is a professional who collects, processes, and analyzes data to help businesses make informed decisions.

INR 5-12 LPA

Auditor 

An auditor is a person authorized to review and verify the accuracy of financial records and ensure that companies comply with tax laws.

INR 5-9 LPA

Stock Broker

A stockbroker is an individual or company that helps people and businesses buy and sell stocks and other securities.

INR 5- 12 LPA

Top Recruiters after MPhil in Economics 

Top Recruiters

 

NITI Aayog

Kotak Securities

Bank of Baroda

HDFC Bank

Alice Blue

Paytm Money

Deloitte Consulting Services

Axis Bank

qna

Student Forum

chatAnything you would want to ask experts?
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Answered 4 weeks ago

To get admission to M.Phil courses at Tamil Nadu Open University isYou should need to have master degree (MA, M.Sc, M.Com etc.)You need to get minimum 55% for admissionChoose specializations and fill admission formYou need to write admission test or entrance test to take admission If you qualify in

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ROHIT Rohit

Contributor-Level 9

Answered 4 weeks ago

Master of Philosophy and Master of Arts in Philosophy are two different courses. As you may already know Master of Philosophy is known as M Phil. You can pursue MPhil course after completing a post graduate course. Now this course has been discontinued.

Master of Arts in Philosophy which is also kno

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K

Keerthana Sundara Vadivel

Contributor-Level 10