M. Sc. Economics Program Structure: Using Data & Models to Understand the Socio-economic World
Blog / September 02, 2024
At its core, economics is the study of people. It aims to explain what motivates human behavior, decisions, and reactions in the face of adversity or success. Economics is a branch of study that combines politics, sociology, psychology, and history.
When you study economics, you gain a bunch of skills, approaches, and ways of thinking that you can use to solve various problems. As a result, economics is a fundamental discipline that underpins the study of business, management, and public policy.
The field of economics has grown in popularity among students over the years. Because of the transition that this field entails, it has become the most demanded field of study. It primarily involves researching the production, consumption, and distribution of goods and services among people.
The M. Sc. Economics program structure provides you with advanced mathematical and statistical skills, and the skills to apply principles of economics and models to business, finance, and government issues. Broadly, the M. Sc. Economics program structure can use economic notions to decipher complex data logic, see how situations relate, and understand the larger context.
M. Sc. Economics is a two-year intensive degree that takes a highly quantitative approach to comprehending today's complex, rapidly shifting, and uncertain global economy. This degree will expand your interest in Economics by teaching you how to use theories, analytical tools, and data to answer a wide range of economic questions.
Explore the World of Business, Management and Higher Economics through the M. Sc. Economics Program Structure
In its most basic form, Economics focuses on how individuals, groups, and nations monitor and use resources. It aims to explain what motivates human behavior, decisions, and reactions in the face of adversity or success.
Economics as a subject provides us with a toolkit of skills, approaches, and practices to thinking which we can apply to various problems. It is a major discipline that encompasses the study of business, management, and public policy. The top three advantages of a career in economics include:
- Excellent career prospects
- Independent & critical thinking and
- Focus on finding solutions to real-life problems
However, the credibility of your degree depends on the college or university where you pursue the course from. Shiv Nadar Institution of Eminence (Deemed to be a University) is one of the top universities in India to pursue an M. Sc. in Economics!
Develop an Open-minded and Scientific Economic Approach with Shiv Nadar Institution of Eminence (Deemed to be a University)
Shiv Nadar IoE's Department of Economics is one of the most prestigious economics departments in India. It was founded in 2012 and has quickly established itself as one of the pioneering centers of economic education and research. The Department of Economics offers four academic programs in modern economics:
Undergraduate Programs
- B. Sc. (Research) in Economics
- B. Sc. (Research) Economics and Finance
Graduate Programs
- M. Sc. in Economics
Doctoral Program
- Ph. D in Economics
Let’s study in detail the M. Sc. Economics program structure at Shiv Nadar IoE!!
M. Sc. Economics Program Structure
The two-year master's program in economics is India's top post-graduate economics program. Students accepted into the program will be trained in a nurturing environment by faculty members who are at the leading edge of research in their particular fields. Current faculty members conduct research in the following M. Sc. in Economics subjects:
- Development Economics
- Environmental Economics
- Macroeconomics
- Labor Economics
- Economic Growth
- Public Economics
- Game Theory
- Network Theory
- Industrial Organization and
- Political Economy
The M. Sc. Economics program structure includes four semesters in two years. The first-year (semesters I and II) coursework consists of seven compulsory courses, one elective course, and one non-credit course. On the other hand, the second year (semesters III and IV) involves one compulsory course and seven electives.
The M. Sc. Economics syllabus provides a theoretical foundation while emphasizing real-world application, resulting in a solid foundation in statistical approach and econometrics. Students receive rigorous training in economic analysis tools, allowing them to contribute creatively to academia, the corporate sector, the social sector, and policymaking.
The M. Sc. Economics program structure at Shiv Nadar IoE is designed to deliver outstanding career prospects to students. Here are some of the program outcomes:
At the end of the first year, students will be able to:
- Comprehend various frameworks for studying choice and decision-making, particularly in uncertain situations
- Use game theory tools to analyze the strategic situation
- Possess the mathematical skill set required to formally model microeconomic and macroeconomic issues of interest, and
- Comprehend the economy's dynamic nature and analyze issues such as economic growth, asset pricing, and business cycles
At the end of the second year, students can:
- Examine how markets work, how market structure influences market participants' behavior, and how such behavior affects market structure
- Comprehend the rationale underlying policy design and implementation, and recommend public policies
- Understand the theoretical underpinnings of trade and relate formal models and empirical studies to current trade issues and
- Conduct credible time series analysis on economic, financial, agricultural, and weather data to produce reliable, medium to short-term forecasts
M. Sc. Economics Program Eligibility Criteria at Shiv Nadar IoE
An undergraduate degree (in any discipline) with a minimum of 55% in aggregate is required for admission to the M. Sc. in Economics program at Shiv Nadar IoE. Maths is required in grades XI and XII.
The M. Sc. Economics program structure at Shiv Nadar IoE is designed for students with a strong analytical and quantitative background. It will prepare you for a professional life in international institutions, academia, government, or industry. Modern theories and approaches of Micro and Macroeconomics, and Econometrics will be taught, as well as exchangeable skills such as critical thinking, problem-solving, and dealing with technical challenges. So, join us and embark on your journey toward a rewarding career in Economics.