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M-SC in Economics at GITAM (Gandhi Institute of Technology and Management)
Visakhapatnam, Andhra Pradesh
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About the Specialization
What is Economics at GITAM (Gandhi Institute of Technology and Management) Visakhapatnam?
This M.Sc. Economics program at GITAM, Visakhapatnam, focuses on developing strong analytical and quantitative skills crucial for understanding complex economic phenomena. It integrates advanced economic theories with empirical methods, preparing students for policy analysis, research, and data-driven decision-making. The curriculum emphasizes contemporary economic challenges and opportunities within the Indian and global contexts, addressing the increasing demand for skilled economists in diverse sectors.
Who Should Apply?
This program is ideal for fresh graduates from economics, mathematics, or statistics backgrounds seeking entry into analytical roles within the Indian economy. It also caters to working professionals aiming to enhance their quantitative and economic modeling capabilities, and career changers transitioning into economic research, data analysis, or policy advisory positions in India''''s dynamic industrial landscape. A strong foundation in quantitative subjects is beneficial.
Why Choose This Course?
Graduates of this program can expect to pursue rewarding career paths in India, including roles as economic analysts, data scientists, research associates in think tanks, consultants, and public policy advisors. Entry-level salaries typically range from INR 4-7 lakhs per annum, with experienced professionals earning upwards of INR 10-20 lakhs. Growth trajectories often lead to leadership positions in banking, financial services, government organizations, and major corporations.
Student Success Practices
Foundation Stage
Master Core Economic Principles and Quantitative Tools- (Semester 1-2)
Dedicate significant effort to understanding fundamental Microeconomics, Macroeconomics, Mathematics, and Statistics. Regularly solve problems from textbooks and supplementary materials to solidify concepts. Utilize online platforms like NPTEL for additional learning modules and practice tests, focusing on areas like optimization and probability theory.
Tools & Resources
NPTEL courses on Economics/Mathematics, Reference textbooks for core subjects, Practice problem sets
Career Connection
A strong theoretical and quantitative foundation is essential for excelling in advanced subjects like Econometrics and forms the bedrock for analytical roles in any economic domain, directly impacting placement readiness.
Develop Foundational Software Skills- (Semester 1-2)
Start familiarizing yourself with statistical software relevant to economics early on. Focus on basic data manipulation, visualization, and regression analysis using tools like R, Python (with Pandas/NumPy), or EViews. Attend workshops or complete online tutorials to build proficiency beyond classroom assignments.
Tools & Resources
RStudio, Python (Anaconda distribution), EViews (academic license), DataCamp/Coursera for R/Python basics
Career Connection
Proficiency in statistical software is a non-negotiable skill for data analyst and research roles in India. Early mastery makes you more attractive to potential employers and better prepared for practical econometrics courses.
Engage in Peer Learning and Discussion Groups- (Semester 1-2)
Form study groups with classmates to discuss complex theories, solve challenging problems, and prepare for exams. Actively participate in classroom discussions and seek clarification from professors. Explaining concepts to peers enhances understanding and critical thinking.
Tools & Resources
Study groups, Library discussion rooms, Online collaborative platforms like Google Docs
Career Connection
Effective communication and teamwork are highly valued in professional environments. Peer learning builds these soft skills alongside academic excellence, which are critical for group projects and team-based roles in the Indian corporate sector.
Intermediate Stage
Apply Econometric Techniques to Real-World Data- (Semester 3-4)
Go beyond theoretical understanding in Econometrics and actively work on projects involving real economic datasets. Use your acquired software skills to estimate models, perform hypothesis tests, and interpret results. Look for publicly available Indian datasets from RBI, NSSO, or Census of India.
Tools & Resources
RBI Database on Indian Economy, NSSO data, Census of India data, Econometric software (R, Python, EViews)
Career Connection
Practical application of econometrics is vital for roles in economic research, policy analysis, and financial modeling. Demonstrating project experience with Indian data will significantly boost your profile for internships and job applications.
Seek Relevant Internships and Industry Exposure- (Semester 3-4 (during breaks))
Actively apply for internships during semester breaks at economic consulting firms, banks, research institutions, or NGOs in India. Even short-term projects provide invaluable exposure to industry practices, networking opportunities, and a chance to apply academic knowledge in a professional setting.
Tools & Resources
LinkedIn, Internshala, College placement cell, Networking events
Career Connection
Internships are often a direct pipeline to full-time employment. They provide practical experience, build professional networks, and demonstrate your commitment to a career in economics, which is highly regarded by Indian employers.
Explore Electives for Specialization and Skill Deepening- (Semester 3-4)
Carefully choose elective subjects that align with your career interests. If you aspire to finance, opt for Financial Economics; for policy, Public or Development Economics. Deep-diving into a specific area through electives will build specialized knowledge and make you more marketable in that niche.
Tools & Resources
Course descriptions, Faculty advisors, Alumni insights
Career Connection
Specialized knowledge gained from electives helps you stand out in a competitive job market. It prepares you for specific roles and provides a clear direction for your career, allowing you to target particular industries or sectors in India.
Advanced Stage
Undertake a Comprehensive Research Project- (Semester 4)
Your final project work is a critical opportunity to showcase your analytical and research capabilities. Choose a topic of high economic relevance, ideally with an Indian context, and apply rigorous econometric or theoretical analysis. Collaborate closely with your faculty mentor for guidance.
Tools & Resources
Research databases (JSTOR, Google Scholar), Statistical software, Thesis writing guides, Faculty mentors
Career Connection
A well-executed research project demonstrates independent thinking, analytical rigor, and problem-solving skills – qualities highly sought by employers, especially in research and policy-oriented roles within India''''s public and private sectors.
Intensify Placement Preparation and Mock Interviews- (Semester 4)
Begin placement preparation early by refining your resume and cover letter, focusing on quantitative skills and project experiences. Participate actively in mock interviews, group discussions, and aptitude test practice sessions organized by the placement cell or peers. Practice articulating economic concepts clearly.
Tools & Resources
GITAM Placement Cell, Online aptitude platforms, Interview preparation guides, Mock interview groups
Career Connection
Thorough placement preparation significantly increases your chances of securing a desirable job offer. Confidence in interviews and strong communication skills are crucial for navigating the competitive recruitment process in India.
Network Strategically and Attend Industry Events- (Semester 4 and beyond)
Actively connect with alumni, guest speakers, and professionals in your target industries. Attend economic conferences, seminars, or webinars (both online and offline) to stay updated on current economic trends and expand your professional network. Leverage LinkedIn for professional connections.
Tools & Resources
LinkedIn, Economic conferences (e.g., Indian Economic Association), University alumni network, Industry webinars
Career Connection
Networking opens doors to hidden job opportunities, mentorship, and insights into industry demands. Strong connections are invaluable for career advancement and securing referrals in the Indian job market.
Program Structure and Curriculum
Eligibility:
- Any Bachelor’s Degree with Economics / Mathematics / Statistics / Business Statistics / Computer Science / Computer Applications / Business Analytics / Data Science as one of the subjects and 50% or above aggregate marks.
Duration: 2 years (4 semesters)
Credits: 80 Credits
Assessment: Internal: 40%, External: 60%
Semester-wise Curriculum Table
Semester 1
| Subject Code | Subject Name | Subject Type | Credits | Key Topics |
|---|---|---|---|---|
| MECO701 | Microeconomics – I | Core | 4 | Consumer Behavior and Demand, Production and Cost Theory, Market Structures (Perfect Competition, Monopoly), Welfare Economics Fundamentals, General Equilibrium Basics |
| MECO703 | Macroeconomics – I | Core | 4 | Classical and Keynesian Theories, National Income Accounting, IS-LM Model for Closed Economy, Aggregate Demand and Supply, Inflation and Unemployment |
| MECO705 | Mathematical Methods for Economics – I | Core | 4 | Real Number System and Functions, Differentiation and Applications, Optimization Techniques, Integration and its Economic Uses, Differential Equations in Economics |
| MECO707 | Statistics for Economics – I | Core | 4 | Descriptive Statistics, Probability Theory, Random Variables and Distributions, Sampling Theory, Index Numbers and Time Series Basics |
| MECO721 | Microeconomics Practical – I | Lab | 2 | Utility Maximization Problems, Cost and Production Analysis, Market Equilibrium Analysis, Consumer and Producer Surplus Calculation, Basic Excel Applications in Microeconomics |
| MECO723 | Statistics Practical – I | Lab | 2 | Data Visualization and Summary Statistics, Probability Distribution Simulation, Hypothesis Testing for Means and Proportions, Correlation and Covariance Analysis, Using Statistical Software (e.g., R, SPSS) |
Semester 2
| Subject Code | Subject Name | Subject Type | Credits | Key Topics |
|---|---|---|---|---|
| MECO702 | Microeconomics – II | Core | 4 | Game Theory and Strategic Interactions, Oligopoly and Monopolistic Competition, Market Failures and Externalities, Asymmetric Information, Behavioral Insights in Economics |
| MECO704 | Macroeconomics – II | Core | 4 | Consumption and Investment Theories, Economic Growth Models (Solow, Romer), Business Cycles and Stabilization Policies, Open Economy Macroeconomics, Exchange Rate Regimes and Policy |
| MECO706 | Mathematical Methods for Economics – II | Core | 4 | Linear Algebra and Matrix Operations, Vector Spaces and Eigenvalues, Dynamic Optimization, Input-Output Analysis, Advanced Calculus for Economics |
| MECO708 | Statistics for Economics – II | Core | 4 | Inferential Statistics, Parametric and Non-Parametric Tests, Analysis of Variance (ANOVA), Simple and Multiple Regression, Time Series Analysis Introduction |
| MECO722 | Microeconomics Practical – II | Lab | 2 | Game Theory Simulations, Market Failure Policy Analysis, Contract Theory Applications, Public Goods Provision Models, Advanced Data Analysis in Microeconomics |
| MECO724 | Statistics Practical – II | Lab | 2 | Advanced Hypothesis Testing, Regression Model Building, ANOVA Applications, Factor Analysis, Statistical Software for Advanced Analysis |
Semester 3
| Subject Code | Subject Name | Subject Type | Credits | Key Topics |
|---|---|---|---|---|
| MECO801 | Econometrics – I | Core | 4 | Classical Linear Regression Model (CLRM), Assumptions of OLS, Violations of CLRM Assumptions (Multicollinearity, Heteroscedasticity), Autocorrelation and its Remedies, Dummy Variables and Model Specification |
| MECO803 | Indian Economic Policy | Core | 4 | Post-Independence Indian Economic Growth, Sectoral Policies (Agriculture, Industry, Services), Fiscal and Monetary Policy in India, Poverty, Inequality, and Employment in India, India''''s External Sector and Trade Policy |
| MECO805 | Public Economics | Core | 4 | Role of Government in the Economy, Public Goods and Externalities, Theories of Taxation and Public Expenditure, Fiscal Federalism in India, Budgeting and Public Debt Management |
| MECO811 | Demography and Labour Economics | Elective | 4 | Population Theories and Demographic Transition, Population Growth and Economic Development, Labour Supply and Demand, Wage Determination and Unemployment, Migration and Labour Market Policies |
| MECO813 | Economics of Infrastructure | Elective | 4 | Overview of Infrastructure Sector, Transport Economics, Energy Economics, Urban Infrastructure and Utilities, Financing and Regulation of Infrastructure |
| MECO815 | Environmental Economics | Elective | 4 | Environmental Externalities and Market Failure, Valuation of Environmental Goods, Pollution Control Policies, Natural Resource Economics, Climate Change Economics and Policy |
| MECO821 | Econometrics Practical – I | Lab | 2 | OLS Estimation using Software (EViews/R), Regression Diagnostics Tests, Addressing Multicollinearity and Heteroscedasticity, Autocorrelation Detection and Correction, Model Specification and Selection |
Semester 4
| Subject Code | Subject Name | Subject Type | Credits | Key Topics |
|---|---|---|---|---|
| MECO802 | Econometrics – II | Core | 4 | Time Series Econometrics, Panel Data Models, Simultaneous Equation Models, Limited Dependent Variable Models, Applied Econometrics Techniques |
| MECO804 | Development Economics | Core | 4 | Theories of Economic Development, Poverty, Inequality, and Human Development, Agriculture and Rural Development, Role of Trade and Aid in Development, Sustainable Development Goals |
| MECO812 | Financial Economics | Elective | 4 | Financial Markets and Institutions, Asset Pricing Models (CAPM), Portfolio Theory and Investment Decisions, Derivatives (Futures, Options), Risk Management in Finance |
| MECO814 | International Economics | Elective | 4 | Theories of International Trade, Trade Policy and Protectionism, Balance of Payments, Exchange Rate Determination, International Economic Institutions (WTO, IMF) |
| MECO816 | Behavioural Economics | Elective | 4 | Heuristics and Biases in Decision Making, Prospect Theory, Intertemporal Choice and Self-Control, Social Preferences and Norms, Nudging and Policy Implications |
| MECO822 | Econometrics Practical – II | Lab | 2 | Time Series Model Estimation (ARIMA), Panel Data Regression Analysis, Qualitative Response Models (Logit, Probit), Granger Causality and Cointegration Tests, Advanced Econometric Software Applications |
| MECO891 | Project Work | Project | 6 | Research Question Formulation, Literature Review, Data Collection and Methodology Design, Empirical Analysis and Interpretation, Academic Report Writing and Presentation |
