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MASTER-OF-ARTS in Economics at Guru Gobind Singh Indraprastha University
Delhi, Delhi
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About the Specialization
What is Economics at Guru Gobind Singh Indraprastha University Delhi?
This Master of Arts in Economics program at Guru Gobind Singh Indraprastha University focuses on equipping students with advanced theoretical knowledge and empirical skills in economic analysis. It covers a wide spectrum from micro and macroeconomics to specialized fields like econometrics, development economics, and environmental economics, critically relevant to India''''s evolving economic landscape. The program emphasizes both foundational concepts and their application to real-world policy challenges.
Who Should Apply?
This program is ideal for fresh graduates with a bachelor''''s degree in any discipline, provided they have a strong mathematical or statistical background from 10+2 or graduation level, seeking entry into economic research, data analysis, or policy formulation roles. It also suits working professionals looking to upskill in quantitative economics or career changers transitioning into economic consulting, financial analysis, or public policy in India.
Why Choose This Course?
Graduates of this program can expect diverse India-specific career paths in government organizations (e.g., RBI, NITI Aayog), research institutions, consulting firms, and financial services. Entry-level salaries typically range from INR 4-7 lakhs per annum, with experienced professionals earning substantially more. Growth trajectories include roles as economic analysts, data scientists, policy researchers, and financial economists in both public and private sectors.
Student Success Practices
Foundation Stage
Master Economic and Quantitative Fundamentals- (Semester 1-2)
Dedicate significant time to thoroughly understand core microeconomics, macroeconomics, mathematical methods, and statistical concepts. Regularly solve problems from textbooks and previous year''''s papers to build a strong theoretical base.
Tools & Resources
NPTEL courses on Economics/Mathematics, Standard textbooks (e.g., Varian for Micro, Mankiw for Macro), Khan Academy for foundational math
Career Connection
A strong grasp of fundamentals is crucial for higher-level subjects and forms the base for analytical roles in any economics-related field, enhancing problem-solving abilities.
Develop Proficiency in Statistical Software- (Semester 1-2)
Begin familiarizing yourself with statistical software relevant for economic analysis, such as R, Python (with pandas, numpy, statsmodels), or EViews. Practice basic data manipulation, visualization, and regression analysis using sample datasets.
Tools & Resources
Online tutorials (e.g., DataCamp, Coursera for R/Python), EViews student version, University computer labs, GeeksforGeeks data science tutorials
Career Connection
These are essential tools for econometrics and data analysis roles, highly valued in consulting, research, and data science positions, making you industry-ready.
Engage in Peer Learning and Discussion Groups- (Semester 1-2)
Form study groups to discuss complex economic theories, solve problem sets together, and clarify doubts. Present concepts to each other to solidify understanding and develop articulation skills.
Tools & Resources
University library study rooms, Online collaboration tools like Google Meet/Zoom, Class notes and reference books
Career Connection
Enhances critical thinking, communication skills, and fosters a collaborative mindset, which are invaluable for team-based projects and discussions in professional settings.
Intermediate Stage
Deep Dive into Econometrics and Research Methods- (Semester 3)
Focus on applying advanced econometric techniques learned in Econometrics II to real-world economic datasets. Actively participate in research seminars and workshops to understand current research trends and methodologies.
Tools & Resources
Stata/R/Python for advanced econometrics, JSTOR/EconLit for academic papers, Datasets from World Bank, RBI, NSO
Career Connection
Crucial for roles requiring rigorous quantitative analysis, economic research, and policy evaluation, directly preparing you for your final dissertation and analytical jobs.
Strategic Elective Selection for Specialization- (Semester 3)
Carefully choose elective subjects that align with your specific career interests (e.g., finance, development, environment, public policy). Seek advice from faculty on industry relevance and future prospects of each specialization.
Tools & Resources
Faculty advisors, University career counseling cells, Alumni network on LinkedIn
Career Connection
Enables development of specialized expertise, making you a more targeted and competitive candidate for specific industry sectors (e.g., Financial Economist, Development Consultant).
Pursue Internships and Applied Projects- (Semester 3 (especially during summer breaks))
Actively seek internships during summer breaks or part-time projects with research organizations, NGOs, or consulting firms in Delhi. Apply theoretical knowledge to practical economic problems and gain real-world experience.
Tools & Resources
University placement cell, LinkedIn, NITI Aayog internship program, Research centers like NCAER
Career Connection
Provides invaluable industry exposure, networking opportunities, and a strong resume builder, often leading to pre-placement offers and a clear career path.
Advanced Stage
Excel in Dissertation and Project Work- (Semester 4)
Choose a compelling research topic for your dissertation, conduct thorough literature review, collect and analyze data rigorously, and present findings effectively. Regularly consult with your supervisor for guidance and feedback.
Tools & Resources
Research databases (Scopus, Web of Science), Academic writing tools (Mendeley, Zotero), Statistical software for data analysis, University library resources
Career Connection
Showcases independent research capabilities, analytical rigor, and problem-solving skills, which are highly valued in research roles, think tanks, and for further academic pursuits.
Comprehensive Placement Preparation- (Semester 4)
Actively engage in mock interviews, group discussions, and aptitude test preparation specific to economic and analytical roles. Tailor your resume and cover letter to specific job profiles, highlighting relevant projects and skills acquired.
Tools & Resources
University career services cell, Online interview platforms (e.g., PrepInsta, GeeksforGeeks for aptitude), Alumni mentors
Career Connection
Maximizes your chances of securing desirable placements in top organizations, providing a smooth and successful transition from academia to professional life in India.
Network with Industry Professionals and Alumni- (undefined)
Attend industry seminars, workshops, and alumni meetups to build a strong professional network. Leverage these connections for mentorship, career guidance, and potential job leads in your chosen economic field.
Tools & Resources
LinkedIn, University alumni portal, Industry conferences (e.g., those organized by FICCI, CII, PHDCCI)
Career Connection
Opens doors to unadvertised job opportunities, provides insights into industry trends, and builds a professional reputation, which is essential for long-term career growth and advancement.
Program Structure and Curriculum
Eligibility:
- Graduation in any discipline with 50% marks from a recognized University. Maths up to 10+2 level or business maths/statistics at Graduation level.
Duration: 2 years (4 semesters)
Credits: 78 Credits
Assessment: Internal: 25%, External: 75%
Semester-wise Curriculum Table
Semester 1
| Subject Code | Subject Name | Subject Type | Credits | Key Topics |
|---|---|---|---|---|
| MAE 101 | Microeconomics I | Core | 4 | Consumer behavior, Production and costs, Market structures (perfect competition, monopoly), General equilibrium, Welfare economics |
| MAE 103 | Macroeconomics I | Core | 4 | National income accounting, Theories of employment (classical, Keynesian), Money and inflation, Open economy macroeconomics, Business cycles |
| MAE 105 | Mathematical Methods for Economics | Core | 4 | Linear algebra (matrices, determinants), Calculus (differentiation, integration), Optimization (constrained, unconstrained), Difference equations, Differential equations |
| MAE 107 | Statistical Methods for Economics | Core | 4 | Probability theory, Random variables, Sampling distributions, Hypothesis testing, Correlation and regression |
| MAE 109 | Indian Economic Development and Policy | Core | 4 | Indian economy post-independence, Planning in India, Agriculture and industry reforms, Fiscal and monetary policy, Poverty and inequality |
Semester 2
| Subject Code | Subject Name | Subject Type | Credits | Key Topics |
|---|---|---|---|---|
| MAE 102 | Microeconomics II | Core | 4 | Game theory, Information economics, Externalities, Public goods, Asymmetric information, Risk and uncertainty |
| MAE 104 | Macroeconomics II | Core | 4 | Consumption theories, Investment theories, Supply-side economics, Rational expectations, Dynamic macroeconomic models |
| MAE 106 | Econometrics I | Core | 4 | Classical linear regression model, Estimation methods, Hypothesis testing, Multicollinearity, Heteroscedasticity, Autocorrelation |
| MAE 108 | Public Economics | Core | 4 | Public goods and externalities, Taxation principles, Fiscal federalism, Public debt, Budgetary process |
| MAE 110 | International Economics | Core | 4 | Theories of international trade, Trade policy, Balance of payments, Exchange rate determination, International financial markets |
Semester 3
| Subject Code | Subject Name | Subject Type | Credits | Key Topics |
|---|---|---|---|---|
| MAE 201 | Econometrics II | Core | 4 | Panel data models, Time series analysis (ARIMA), Simultaneous equations, Qualitative response models, Forecasting |
| MAE 203 | Development Economics | Core | 4 | Theories of economic growth, Poverty and inequality, Human capital, Agriculture and rural development, International aid |
| MAE 205 | Environmental Economics | Elective (Choose 3 from MAE 205-MAE 227) | 4 | Environmental externalities, Resource allocation, Valuation of environmental goods, Environmental policy instruments, Sustainable development |
| MAE 207 | Financial Economics | Elective (Choose 3 from MAE 205-MAE 227) | 4 | Financial markets, Asset pricing models (CAPM), Risk and return, Portfolio theory, Derivatives, Corporate finance |
| MAE 209 | Industrial Economics | Elective (Choose 3 from MAE 205-MAE 227) | 4 | Market structure, Firm behavior, Industrial policies, Competition policy, Mergers and acquisitions, Business strategies |
| MAE 211 | Agricultural Economics | Elective (Choose 3 from MAE 205-MAE 227) | 4 | Agricultural production, Food security, Price policy, Rural credit, Land reforms, Agricultural marketing |
| MAE 213 | Labour Economics | Elective (Choose 3 from MAE 205-MAE 227) | 4 | Labour supply and demand, Wage determination, Unemployment, Human capital theory, Trade unions, Labour market policies |
| MAE 215 | Managerial Economics | Elective (Choose 3 from MAE 205-MAE 227) | 4 | Demand analysis and forecasting, Production and cost analysis, Pricing decisions, Market structure and strategy, Capital budgeting, Risk analysis |
| MAE 217 | Welfare Economics | Elective (Choose 3 from MAE 205-MAE 227) | 4 | Social welfare functions, Pareto optimality, Market failures, Public choice theory, Social justice, Equity and efficiency |
| MAE 219 | Health Economics | Elective (Choose 3 from MAE 205-MAE 227) | 4 | Health production function, Demand for health, Healthcare financing, Health insurance, Cost-benefit analysis in health, Indian healthcare system |
| MAE 221 | Rural Development | Elective (Choose 3 from MAE 205-MAE 227) | 4 | Rural poverty, Microfinance, Rural infrastructure, Livelihood strategies, Decentralization, Rural policies in India |
| MAE 223 | Computer Applications in Economics | Elective (Choose 3 from MAE 205-MAE 227) | 4 | Introduction to statistical packages (SPSS, EViews, R), Data handling, Econometric modeling using software, Simulation, Data visualization |
| MAE 225 | Social Sector Development | Elective (Choose 3 from MAE 205-MAE 227) | 4 | Education economics, Health sector reforms, Poverty alleviation programs, Gender and development, Social security, Human development indicators |
| MAE 227 | Economics of Human Resource | Elective (Choose 3 from MAE 205-MAE 227) | 4 | Human capital formation, Education and labor market, Health and productivity, Demographic dividend, Skill development, Public policy for human resource |
Semester 4
| Subject Code | Subject Name | Subject Type | Credits | Key Topics |
|---|---|---|---|---|
| MAE 202 | Dissertation/Project | Project | 6 | Research methodology, Literature review, Data collection and analysis, Thesis writing, Presentation skills |
| MAE 204 | Health Economics | Elective (Choose 3 from MAE 204-MAE 214) | 4 | Health production function, Demand for health, Healthcare financing, Health insurance, Indian healthcare system, Health policy evaluation |
| MAE 206 | Gender Economics | Elective (Choose 3 from MAE 204-MAE 214) | 4 | Gender inequality, Female labor force participation, Gender pay gap, Women''''s empowerment, Policies for gender equity, Care economy |
| MAE 208 | Demography | Elective (Choose 3 from MAE 204-MAE 214) | 4 | Population theories, Fertility, Mortality, Migration, Population growth and development, Demographic transition in India |
| MAE 210 | History of Economic Thought | Elective (Choose 3 from MAE 204-MAE 214) | 4 | Classical economics, Neoclassical economics, Keynesian economics, Marxian economics, Institutional economics, Evolution of economic ideas |
| MAE 212 | Urban Economics | Elective (Choose 3 from MAE 204-MAE 214) | 4 | Urbanization trends, Land use theory, Housing markets, Urban transport, Pollution in cities, Urban planning and policy |
| MAE 214 | Regional Economics | Elective (Choose 3 from MAE 204-MAE 214) | 4 | Regional growth theories, Location analysis, Inter-regional trade, Regional disparities, Regional planning, Special economic zones |
