MBA in Economics: Course Overview, Eligibility & Job Scope

What is an MBA in Economics?

Masters in Business Administration in the field of economics is like integrating both the subjects of management and economics. Students graduating with an economics degree or students who have developed an interest in economics should pursue an MBA in economics, as it will give them a chance to apply the principles and concepts learnt in both subject areas.

Using the concepts of economics in the real world management scenarios is what makes a successful manager in economics. The course subjects taught to the students of MBA in economics are industrial economics, managerial economics, microeconomics, international trade, and econometrics.

It would be an interesting field for economics graduates to further sharpen their skills and knowledge by pursuing an MBA in economics. 

MBA in Economics Course Key Highlights

Why should you study an MBA in Economics?

1.  The specialisation of economics and management is not very crowded, unlike other fields like finance.
2. An MBA in economics student owns a great salary package as compared to some other specialisations. 
3. Hence, the return on investment this field offers is much higher. 
4. Economics is a subject whose principles are applicable in diverse sectors like the government sector, start-ups, banking sectors, and, of course, the corporate sector.
5. Economics leads to a broader mindset and versatile skill sets in a student, which also opens up many global opportunities. It is a perfect course for students who wish to become professors in economics.

Admission Process

1. Make applications once the forms are out to the different management institutes you wish to be a part of, apply, and appear for management entrance exams conducted every year, and get yourself a good percentile.
2. The applications are shortlisted by the respective institutions according to their own criteria, predominantly considering the scores obtained for entrance exams. 
3. After shortlisting, a formal interview call is sent to the shortlisted students. 
4. A group discussion and personal interview are conducted to prepare the final merit list, which is displayed shortly after conducting the interviews of all the shortlisted students. 
5. Once you find your name in the list, pay the fees as soon as possible within the respective time limits to confirm your seat.

Fee Structure

1. Popular institutions for pursuing an MBA in economics in India are institutions like IIFT, where the total fees for an MBA in economics would be around 20 lakhs. 
2. However, you can also take admission in IIM and choose economics as a specialisation. 
3. The fees charged by central universities like the Delhi University Faculty of Management Studies and the Delhi School of Economics are much more affordable as compared to IIMs and private universities. 

Eligibility Criteria

The following is the eligibility area to take admission in the MBA in economics in any well-recognised college in India. 

1. A formal bachelor’s degree with a minimum of around 50% marks in any discipline, be it sciences, humanities, or commerce. 
2. Good percentile in one of the management entrance exams required by respective institutions. Most probably, the most acceptable exam throughout the country is CAT.
3. There is no upper age limit to pursue an MBA in economics. 

What Are The Career Options After An MBA in Economics Course?

After completing an MBA in economics, a student has the following career options-

1. Government sector-

• An MBA economics graduate can work with different public sector undertakings in management roles in organizations such as ONGC and NTPC. They regularly hire management graduates.
• You can apply for the Indian Economic Service, which is a very prestigious service in our country, where you can contribute to developing the economic policies of our country. 
• You can apply for the RBI Grade B examination, which is again a reputed and high-paying job. 

1. You can work as an assistant professor or enroll in a PhD in economics.
2. Getting a private sector job in roles such as economic consultant, financial analyst, and investment banker are other attractive career options for an MBA in economics. 

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