What is Ph.D. in Economics: Full Form, Course Duration, Admission 2025, Colleges, Salary & Scope

Updated on May 15, 2025 10:22 IST

The term PhD full form is Doctor of Philosophy in Economics. The course teaches the students the skills to study the finite resources. A PhD is the highest qualification. There is no fixed duration and a student can also specialize in different branches like Macroeconomics, Microeconomics, International Economics and Business Economics

Relevant Suggestions:

Top 10 MA Subjects & Specialisations

PHD in Economics Course Details: Highlights

Candidates can see the key highlights below:

Particulars 

Details 

Course Name

Ph.D in Economics 

Course level 

Doctorate

Admission Procedure

Merit and Entrance Based.

Entrance Exams

UGC NET  and GATE

Course Fees 

INR 15,000 to INR 1.5 Lakh

Salary in India

INR 8-15 LPA. 

Job Profiles 

Professor, Financial Analyst, Investment Banker

Note: The info is taken from other sources and can be different.

 

Q:   What is economics all about?
A:
Economics is the study of how societies use scarce resources to produce valuable commodities and distribute them among different people. Behind this definition are two key ideas in economics: goods are scarce and that society must use its resources efficiently.
AskShikshaGPT on App
Q:   What is the scope of agricultural economics?
A:
Most of the industries depend on the raw material produced by agriculture, so agriculture is the principal source of raw material to the industries. The industries like cotton textile, jute, paper, sugar depends totally on agriculture for the supply of raw material. The small scale and cottage industries like hand loom and power loon, ginning and pressing, oil crushing, rice husking, sericulture fruit processing, etc. are also mainly agro based industries.
AskShikshaGPT on App
Table of content
  • PhD in Economics Eligibility Criteria
  • PhD in Economics Admission 2025
  • PhD in Economics Entrance Exams 2025
  • PhD Economics Syllabus 2025
  • Best PhD in Economics Colleges in India
  • Popular Private Ph.D. in Economics Colleges in India
  • PhD in Economics Career Scope: Job Profiles, Salary and Top Recruiters
  • PhD Economics FAQs: 2025
  • Popular Ph.D. in Economics Specializations
  • Course Cutoffs
View More

PhD in Economics Eligibility Criteria

Candidates can see the PhD in Economics eligibility below:

Criteria Requirements
Academic Qualification
Bachelor's degree 4 years, including 1 year of research in Economics or a relevant field from a recognized university or Master's degree in Economics or a relevant field from a recognized university.
Minimum Marks
Minimum 55% marks or equivalent CGPA in the Master's degree. 
Entrance Exams
Many colleges require a valid score in national or university-level entrance exams like UGC NET, CSIR NET and GATE.
Research Proposal
Some colleges may require a research proposal outlining the intended research topic.
Interview
Shortlisted students often undergo an interview to assess their research aptitude and suitability for the program.

Age Limit 

No prescribed age limit.

Note: The info is taken from other sources and can be different.
 

Q:   Can I do Ph.D. in economics after MBA in finance.
A:
Yes, you can do Ph.D. in economics after MBA in finance as you are eligible for doing Ph.D. in Business Economics. To be eligible for Ph.D. course, you should have completed Masters degree with above 55% marks from a recognised university. You should also have a Bachelor's degree in economics / Bachelor in technology in economics from a recognised university. MBA in finance will help if Ph.D. in economics involves higher level math.
AskShikshaGPT on App
Q:   What are the career options in economics?
A:
There are multiple good career options available for graduate/ postgraduates in Economics. You can join MNCs, BFSI (Banking Financial Services & Insurance) companies as research analysts, Indian Economic Services, Civil Services, RBI, PO in banks , BPO, KPO, PSUs, private companies , Armed Forces as officer, academics etc .
AskShikshaGPT on App

PhD in Economics Admission 2025

You can have a general overview of the PhD in Economics admission process below.

  • Make sure you meet the eligibility
  • Apply online by flling up the form
  • Take entrance exam
  • Wait for the merit list and result
  • If selected, attend the counselling session
  • Get the documents verified and pay the fee to secure the seat

Note: The info is taken from other sites and can be different.

PhD in Economics Entrance Exams 2025

Candidates can see the list of exams below:

PhD Economics Entrance Exam

Entrance Exam Schedule

GATE

GATE Exam Date 

UGC NET

UGC NET Exam Date 

Note: The info is taken from other sources and can be different.
 

Important Exam Dates

DatesUpcoming Exam Dates
Nov ' 25

KIITEE 2026 Application Form

TENTATIVE
06 Nov ' 25

ICAR JRF SRF 2025 Counselling Round 3: Seat Allotment & Document Upload

07 Nov ' 25

ICAR JRF SRF 2025 Counselling Round 3: Document Verification

07 Nov ' 25

ICAR JRF SRF 2025 Counselling Round 3: re-submission of documents

07 Nov ' 25

ICAR JRF SRF 2025 Counselling Round 3: Document Verification by the Universities

07 Nov ' 25

ICAR JRF SRF 2025 Counselling Round 3: Seat Acceptance Fee deposition

10 Nov ' 25

ICAR JRF SRF 2025 Counselling Round 4: Seat Allotment & Document Upload

DatesPast Exam Dates
26 Oct ' 25

TIFR GS 2026 Application deadline for completing REGISTRATION

19 Oct ' 25

TIFR GS 2026 Application deadline for choice of test center

12 Oct ' 25

TIFR GS 2026 Application deadline for Fee Waiver Requests

Q:   What is the exam pattern of UGC NET?
A:

According to the latest NTA UGC NET Exam Pattern exam consist 2 papers. Although, it will be conducted without any break in the fixed time duration of 3 hours, which means exam is conducted in single session. Exam is totally computer based. There is no negative marking so attempting all questions is compulsory. Both papers consist only MCQs. Paper 1 consist 50 questions of total 100 marks in an hour whereas paper 2 consists 100 questions of total 200 marks in 2 hours. Paper 2 is based on subject questions opted by the candidate. Paper 1 is totally based on teaching / research aptitude, reasoning ability, comprehension and general awareness. Hope the information helps.

Q:   What is GATE 2026 Exam structure?
A:

GATE papers have three major sections; General Aptitude, Engineering Mathematics & Specific Subject. There are 65 questions asked for 100 marks in GATE exam.  

General aptitude questions are asked for 15 marks, Engineering mathematics in some paper codes, 13 marks and the rest 72 marks from the chosen subject.  

In some paper codes engineering mathematics will be excluded only 15 marks general aptitude questions and rest 85 marks will be of chosen subject. 

PhD Economics Syllabus 2025

Candidates can see the PhD in Economics syllabus below:

PhD in Economics Syllabus

Research Methodology in Economics

Advanced Econometrics

Topics in Development Economics

Advanced Economic Theory

Econometric Methods

Topics in Financial Economics

Note: The info is taken from other sources and can be different.
 

 

Q:   Can I do PhD in Economics through distance learning?
A:

Yes, you can pursue PhD Economics in distance mode. There are over 100 colleges in India that offer the course in distance mode out of which 52 are government colleges, 42 are private-run and 39 are semi-government colleges. Most of these colleges accept UGC NET, CSIR NET and GATE exam score for admission to the course. 

Q:   Who can pursue Economics courses?
A:

Anyone who wishes to pursue a promising career in academics or economic policy-making or the banking industry can pursue Economics.Those candidates who have pursued Mathematics are favoured for UG courses in Economics since Statistics is one of the major subjects offered both in UG and PG courses in Economics.Many candidates also aspire to join government services through UPSC CSE, or State PSCs or UPSC IES and Economics is a popular optional subject in these examinations. Students who possess Research, Analytical, and Statistical skills can be admitted to Economics courses.

Best PhD in Economics Colleges in India

There are more than 170 PhD in Economics colleges in India. You can see some top options for government and private PhD Economics colleges below.

Best Government PhD in Economics Colleges in India

See the list of popular government colleges in India that offer PhD in Economics below.

Best Government Colleges

Tuition Fees 

PSGCAS Coimbatore

INR 13,860

IGNOU

INR 50,400

TISS - Tata Institute of Social Sciences, Mumbai

INR 1.19 Lakh - INR 2.06 Lakh

Aligarh Muslim University

INR 35,520

Netaji Subhas Open University

INR 21,000

IIT Bombay

INR 8.08 Lakh

PSTU Hyderabad

INR 3,900

IIT Kanpur

INR 48,550

Guru Nanak Dev University

INR 40,400 - INR 1.15 Lakh

Patna University

INR 6,000

Note: The info is taken from other sources and can be different.

Best Private PhD in Economics Colleges in India

Here's a list of popular private colleges in India that offer PhD in Economics below.

Best Private Colleges

Tuition Fees

Amity University, Noida

INR 3 Lakh - INR 16 Lakh

Mithibai College of Arts

INR 92,000

LPU - Lovely Professional University

INR 3 Lakh

Chhatrapati Shivaji Maharaj University

INR 4.2 Lakh

Goa University

INR 24,570

Parul University, Vadodara

INR 2.1 Lakh - INR 3 Lakh

MIT WPU

INR 3 Lakh

Ashoka University

INR 75,000

Flame University

INR 90,000

Christ - Delhi NCR Campus

INR 90,000

Note: The info is taken from other sources and can be different.

 

35 Courses
432 - 18.5 K
8.4 LPA

#3 NIRF

22 Courses
55.95 K - 86.01 K
9.24 - 9.5 LPA

#1 NIRF

13 Courses
20 K - 1.84 L
6.23 - 6.89 LPA

#89 NIRF

19 Courses
1.63 K - 83.52 K
9.2 - 10.2 LPA

#17 NIRF

1.07 L - 16 L
3.4

#81 India Today

56.16 K - 62.91 K
3 - 3.5 LPA

#16 NIRF

Popular Private Ph.D. in Economics Colleges in India

92.4 K - 2.92 L
4.1 LPA
20 K - 6.4 L
4 - 8.2 LPA

Humanities & Social Sciences Applications open. Apply Now

53 Courses
1 K - 90 K
3.1
1 L - 7.7 L
40 K - 5.6 L
7.25 LPA

Humanities & Social Sciences Applications open. Apply Now

68 K - 1.36 L
4.3

PhD in Economics Career Scope: Job Profiles, Salary and Top Recruiters

Candidates who wish to make a career in the academics and wish to become a lecturer, professor or a researcher usually pursue PhD in Economics. Also, having a PhD in Economics degree make the career scope of an individual better and enhances the job prospects. 

Top PhD in Economics Job Profiles

Candidates can see the list of jobs below:

Job Profiles

Average Annual Salary

Economist

4-6 lakh

Lecturer

5-7 lakh

Consultant

4-6 lakh

Professor

6-8 lakh

Advisor

4-6 lakh

Management Consulting

5-7 lakh

Accountant

6-8 lakh

Investment Analysis

7-9 lakh

PhD in Economics Top Recruiters

Candidates can see the list of recruiters below:

Top Recruiters for PhD in Economics
Bharat Petroleum Corporation Limited Future Group
Grasim Honda Two-Wheelers Bank of India, Bharat forge
Microsoft BSNL
Mahindra Engineering Flipkart 
Cognizant  Infosys
Reliance Industries Limited Reliance
JCB Tata Power
Q:   Can candidates with a background in finance or economics apply for RBI Grade B directly?
A:

Candidates from any discipline can apply for the RBI Grade B exam for the general post. Candidates applying for this post must possess a graduation degree in any discipline with a minimum of 60 percent marks or a postgraduate degree with a minimum of 55 percent marks. The degree must be obtained from a recognised Indian or foreign University or institute.

Q:   What are the job opportunities after completing PhD Economics?
A:

Economics is one of the most sought-after courses. There are several reasons why candidates should choose to pursue a PhD Economics course. Some of these reasons have been listed below:

  • A PhD degree in economics opens up many job opportunities in the business, corporate, and government sectors. 

  • The study of economics is directly applicable to the real world. A PhD in Economics will help the student navigate their own finances and they will learn to manage it. 

  • All MNCs and bigger companies hire candidates with an in-depth knowledge of Economics, to predict the market and help the company grow efficiently. These companies offer high salaries and other perks in return for their service.

  • Candidates who have completed PhD Economics can serve the nation through service as policy-makers, financial analysts, economic advisors, etc. for the government. 

  • Economics skills apply across industries and roles. PhD Economics graduates are also hired by public and private banks and other commercial companies.

  •  A PhD enhances one's career prospects and serves as a gateway to a career in academia. 

PhD Economics FAQs: 2025

Here are some Frequently Asked Questions (FAQs) related to PhD Economics:

Q:   Why economics is called the Science of Choice?
A:

Economics is a social science as it explains how our individual choices effect society by using a price mechanism. As consumers we like cheap prices, because we can buy more things that we like. And we decide on what we buy by looking at the prices and seeing what products we want. When given a price an individual is given the choice to buy or not, it is their decision to make. Economics studies the variables that effect the decision of multiple individuals. This includes the price and the alternative products available to buy. If there aren't any choices to make then we all do the same thing and there are no decisions to study and no need for economics.

Popular Ph.D. in Economics Specializations

Following are the most popular Ph.D. in Economics Specializations . You can explore the top Colleges offering these Specializations by clicking the links below.

Popular Specializations

Course Cutoffs

The cutoffs of popular Ph.D. in Economics colleges is given below:
qna

Student Forum

chatAnything you would want to ask experts?
Write here...

Answered 3 weeks ago

If you are planning to pursue a PhD at Lovely Professional University (LPU), here's a simple guide to help you:

First, make sure you meet the eligibility criteria. You need a Master's degree in a relevant field with a good academic record—usually a minimum of 55% marks or equivalent CGPA, as per the

...Read more

S

Sumedha Sarkar

Contributor-Level 6

Answered a month ago

Biosciences students at Chandigarh University are guided effectively for pursuing higher studies like M.Sc. and Ph.D. Programs are designed to prepare students with strong research skills, analytical abilities, and scientific writing expertise. Faculty mentors assist students in selecting appropriat

...Read more

R

RUHI KHAN

Beginner-Level 5

Answered a month ago

Of course, you can. In fact, a master's degree is the first basic requirement for a PhD aspirant. No matter which subject you choose, a relevant master's degree from a UGC-approved university will be required to pursue a PhD
For instance, if you have completed your MA in Psychology, then you can pu

...Read more

S

Shikha Arora

Contributor-Level 9

Answered 2 months ago

Candidates who have complete master's degree or PG Diploma or its equivalent in any discipline with first-class or BTech/4-year degree with 6.5 CGPA or equivalent are eligible to apply for PhD programme at IIM Amritsar.

Aspirants with any professional qualification such as CA/ ICWA/ CS/CFA- Level-II

...Read more

N

Nishtha Shukla

Guide-Level 15

Answered 2 months ago

The application fee for PhD admission at Vijayanagara Sri Krishnadevaraya University is INR 1000 for general and OBC category. The fee is INR 500 for SC/ST/Category 1 candidates. Late application fee is INR 500.

h

heau mishr

Contributor-Level 10

Answered 2 months ago

The minimum eligibility for four year UG students applying for PhD at Vijayanagara Sri Krishnadevaraya University is having a minimum 75% of aggregate marks in UG. Along with this candidates must attempt the entrance conducted by the university and the counselling sessions conducted hence.

h

heau mishr

Contributor-Level 10

Answered 2 months ago

The minimum eligibility for PhD at Vijayanagara Sri Krishnadevaraya University is that the candidate must hold a 2 year PG degree and 3 year UG degree/ 1 year PG degree and 4 year UG degree. For students having a four year UG degree and directly applying for PhD, the minimum eligibility is having 75

...Read more

h

heau mishr

Contributor-Level 10

Answered 2 months ago

The word count of a Statement of Purpose for a PhD should be typically between 800 and 1,500.  However, it is important to check the SOP guidelines for every university you apply to, because requirements can differ. For example, Oxford requests 1,500 words, while MIT asks for a 2-page maximum. Alway

...Read more

N

Nishtha Surbhi

Contributor-Level 7

Answered 2 months ago

Yes, you can. Here are some college options you can consider for a Part time PhD in Psychology in India:

Part-time PhD in Psychology CollegesTuition Fee
Amity University NoidaINR 3.02 Lakh
Amity University MumbaiINR 1.89 Lakh
Amity University LucknowINR 2.43 Lakh
Karnavati University AhmedabadINR 3.3 Lakh
Sigma UniversityINR 2.8 Lakh

Note: The information is sourced from the official/counselling body of the institute/exam.

G

Gunjan Dhawan

Contributor-Level 9

Answered 2 months ago

See, earlier, the conventional path to apply for an RCI licensure was the MPhil, which has been phased out. So now, what you can do is to search for the institutes that are RCI-approved. They will provide the training and professional courses in fields related to rehabilitation and special education

...Read more

M

Mohit Datta

Contributor-Level 9

Answered 2 months ago

Here are options for the best University for PhD in Psychology in India:

PhD in Psychology UniversitiesTuition Fee
Parul University NoidaINR 3 Lacs - 16 Lakh
Christ University BangaloreNA
Dr. B.R. Ambedkar UniversityNA
Lovely Professional UniversityINR 3 Lakh
Parul UniversityINR 3 Lakh

Note: The information is sourced from the official/counselling body of the institute/exam.

I

Ishita Uniyal

Contributor-Level 9

Answered 2 months ago

Yes, a few college options are available for a PhD in Psychology in Delhi:

PhD in Psychology Colleges in DelhiTuition Fee
Dr. B.R. Ambedkar University DelhiNA
Jamia Millia IslamiaNA
IIT DelhiNA

Note: The information is sourced from the official/counselling body of the institute/exam.

L

Lalit Rastogi

Contributor-Level 9

Answered 2 months ago

For a PhD in Psychology at IGNOU, you'll need to have a:

  • Master's degree in Psychology (For example, MA in Psychology)
  • The degree must be UGC-recognized
  • With a minimum of 55% aggregate score
  • 5% relaxation for SC/ST/OBC (non-creamy layer)/PwD/EWS categories

A

Akansha Bisht

Contributor-Level 10

Answered 2 months ago

Of course, it is. For the past few years, mental health has been a significantly growing concern, and people have started considering it as a big deal, leading to the growing demand for Psychology professionals. Meanwhile, a doctoral degree is the highest form of education, and if you plan to invest

...Read more

S

Sreetama Shrivastava

Contributor-Level 9

Answered 2 months ago

Including speciality, contractual and permanent faculty members at Indo Global Group of Colleges, there are a total of 22 PhD holders across various departments. Furthermore, IGGC features 100+ faculty members with MBA and M.Tech backgrounds. With a total of over 250 Faculty members, Indo Global Gro

...Read more

C

Chikat Marchang

Contributor-Level 10

Answered 2 months ago

Only a few scholars enrolled on a PhD in third countries, who are selected by the Euroculture Erasmus Mundus Consortium, are eligible to contribute to this joint programme. Therefore, requests generated only through the officially established channels are considered, and no unsolicited requests for

...Read more

R

Rashmi Shekhar

Contributor-Level 8

Answered 2 months ago

Candidates who have passed a master's degree with 55% aggregate (50% aggregate for SC/ ST/ OBC/ Differently-abled and other categories of candidates as per the policy of Government of Maharashtra) or Grade- B in the UGC 7-point scale can apply for PhD programme at Sri Balaji University Pune. Besides

...Read more

N

Nishtha Shukla

Guide-Level 15

Answered 2 months ago

Candidates are selected for the PhD course at Himachal Pradesh National Law University, based on their scores in the HPNLU Entrance Test/ UGC-NET/ JRF. Candidates must appear for any of these exams and achieve a valid aggregate in the same to take admission in the PhD course at Himachal Pradesh Nati

...Read more

S

Sejal Baveja

Contributor-Level 10

Answered 2 months ago

According to the official portal, university PhD students who have qualified both ACUET and the final selection interview are eligible for grant-in-aid (?20,000 per month + HRA or hostel facility) offered through the 'ACU Ph.D. Scholarship' Program, applicable to both Indian and Foreign Nationals. A

...Read more

h

heau mishr

Contributor-Level 10

Answered 2 months ago

Following specialisations are offered in the PhD programme at Adichunchanagiri University:

  • PhD Civil engineering / Mechanical Engineering/ Electronics & Communication engineering/ Computer Science & Engg/ Mathematics
  • PhD Anatomy/ Physiology/ Medical Biochemistry/ Microbiology/ Community Medicine/ Path

...Read more

h

heau mishr

Contributor-Level 10

Answered 2 months ago

Al Falah University offers a doctorate programme for students who are eligible for the same. The common eligibility is a second class master degree with not less than 55% marks of a university or a grade 'B' in the UGC 7- point scale. Alternatively, the candidate must complete M.Phil course work wit

...Read more

h

heau mishr

Contributor-Level 10

Answered 2 months ago

Plaksha University offers admission to PhD programme based on entrance exam scores of the candidates. The university prefers aspirants with scores in CSIR NET-JRF, DBT-JRF, UGC-NET-JRF, GATE, IIT JAM, etc. Such shortlisted aspirants are exempted from appearing for the written test conducted by Plaks

...Read more

N

Nishtha Shukla

Guide-Level 15

Answered 2 months ago

Joining NLU Kochi (NUALS) - The National University of Advanced Legal Studies for PhD course is generally considered a good option. Candidates must consider factors such as infrastructure, faculty experience, hostel and mess facilities, curriculum, etc. while taking admission. They can apply online

...Read more

S

Sejal Baveja

Contributor-Level 10

Answered 2 months ago

NLU Kochi (NUALS) - The National University of Advanced Legal Studies accepts the UGC NET or the Departmental Admission Test (DAT) which is conducted by the university itself for admission in the PhD course. Candidates must ensure fulfilling the eligibility criteria required for admission in the cou

...Read more

S

Sejal Baveja

Contributor-Level 10

Answered 2 months ago

Hi,  
See, both of them are advanced research degrees, though their level of study and the depth of research involved differ. While an MPhil is a master's degree, a PhD is the highest academic degree, requiring real, in-depth research.
But there's no point comparing both courses, since the UGC discont

...Read more

A

Atul Arora

Contributor-Level 9

Answered 2 months ago

Including specialty, contractual and permanent faculty members at NPGC Lucknow there are a total of 21 PhD holders in the Arts department, 6 in Commerce department, 15 in the Science department, 6 in Management department, 1 in the Computer Science department, 1 in the Journalism and Mass Communicat

...Read more

C

Chikat Marchang

Contributor-Level 10

Answered 2 months ago

Including speciality, contractual and permanent faculty members at Bhaskar Engineering College in Telangana, there are a total of 7 PhD holders across various departments. Furthermore, Bhaskar Engineering College features 71 faculty members with Master's backgrounds from various streams. With a tota

...Read more

C

Chikat Marchang

Contributor-Level 10

Answered 2 months ago

Including specialty, contractual and permanent faculty members at St Edmunds College Shillong there are a total of 38 PhD holders across various departments. Furthermore, St Edmunds College features 67 faculty members with Master's backgrounds from various streams. With a total of 105 Faculty member

...Read more

C

Chikat Marchang

Contributor-Level 10

Answered 2 months ago

Yes, Motherhood University conducts a Research Aptitude Test or RAT for admission to PhD programme. Candidates can apply for RAT on the official website of the university. Aspirants who have copleted 1-year or 2-year master's degree with at least 55% aggregate can apply for the test. Those who have

...Read more

N

Nishtha Shukla

Guide-Level 15

Answered 2 months ago

Joining PhD course at RV College of Architecture is generally considered a decent option. Candidates must consider factors like infrastructure, faculty experience, hostel and mess facilities, curriculum, etc. while taking admission. They can apply online or offline for admission at RV College of Arc

...Read more

S

Sejal Baveja

Contributor-Level 10