As must be known to those having a background in economics, the application of economic theory is what constitutes applied economics. The application of economic theory and econometrics in a range of field is what one focuses in the two years of study and research in an M.Phil program. Economics finds applications in many areas such as in industries, banking, agriculture, manufacturing, healthcare, business, labour, economic development and so on. This is one research program that could be undertaken by professionals working in fields as diverse as governmental, non-governmental, industrial, research and academics for an all-round development of their skills in applied economics.
Eligibility and course duration
Postgraduation degree such as M.A. or M.Sc in economics from a recognized university with at least 60% marks. The admission process includes an entrance test and an interview.
The duration of the course is 2 years. The first year focuses on coursework, whereas the 2nd is devoted to preparing a thesis.
More about the course
The program has two components. The coursework during the 1st year and subsequent research work involving the preparation of a thesis. One gets to do the research work under a supervisor as per the research proposal submitted during the admission. You will have successfully graduated once you are able to defend your research thesis in front of a panel through viva-voce. Undertaking this course has numerous advantages. It enhances your understanding of applied, macro as well as micro economics. You are able to analyze and put forward solutions to real world economic problems. You get to understand the different schools of thought that have their own understanding of various macroeconomic issues affecting nations and economies in general. The program is also helpful in enhancing your decision making skills and in analyzing the impact of governmental policies on businesses, industries, etc.
Applied economics is an important field and as a consequence employment opportunities can be found in a number of areas including, research organizations, academics, banking, insurance, financial institutions, industries sector, NGOs and government departments. An M.Phil degree is also a stepping stone to some advance research in the form of doctoral programs like PhD. With an M.Phil and preferably a PhD you can look forward to an exciting academic career in universities and colleges or a career based on research in research organizations. Avenues are also created in a number of governmental and non-governmental organizations.
M.Phil. Applied Economics Admissions for 2021 - 2022 Academic Year
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