M.Sc

Hello,
As you are interested in economics, you can go for teaching or research in it. There are UGC NET exam is organized for the candidates who want to become assistant professor or junior research fellowship also called JRF. As you have completed the M.Sc. You are eligible to apply for UGC NET Exam for lectureship. If you want to apply for JRF, make sure that you are under 30 years old. After qualifying the NET Exam you might have following career options:
Become assistant professor at top institutes and colleges
Get a scholarship or fellowship awards
Become guest lecturer
Open an institute or coaching
Get a job in PSUs or government sector
Get a job in Administration
Become an author or publish a book
Become a counsellor etc. UGC NET will open many option after Post Graduation. On the other hand MBA will make you eligible for management and business profile. Now, it is all up to you in which filed you want to go. All the best.

PGDM (Post Graduate Diploma in Management) is a Diploma degree issued by AICTE (All India Council for Technical Education) recognized institutions in a 2-years full-time programme. B-schools offering PGDM course are autonomous bodies with industry-oriented curriculum which allows them maximum flexibility to constantly keep updating their course curriculum adapting to the industry development. It is at the par with the quality of education imparted on students pursuing an MBA degree. PGPM (Post Graduate Programme in Management) is not a degree but a certification course. It is a typical 1-2 years programme, and doesn't possess any sort of recommendation as it is generally offered by colleges without affiliations. The biggest difference is that PGDM enables you to pursue higher education like Ph.D. but a PGPM programme doesn't facilitate you the same. Good Luck.