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B-S-M-S in Economics at Indian Institute of Technology Kanpur
Kanpur Nagar, Uttar Pradesh
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About the Specialization
What is Economics at Indian Institute of Technology Kanpur Kanpur Nagar?
This B.S.-M.S. Economics program at IIT Kanpur offers an integrated, rigorous curriculum blending strong theoretical foundations with practical applications. It prepares students for advanced studies and high-impact roles in diverse sectors of the Indian economy, focusing on quantitative analysis and research. The program is designed to meet the growing demand for skilled economic analysts and researchers in India, fostering intellectual curiosity and analytical prowess.
Who Should Apply?
This program is ideal for high-achieving 10+2 graduates with a strong aptitude for mathematics and analytical thinking, who aspire to delve deep into economic theory and its real-world implications. It also suits those looking for a comprehensive, research-oriented economics education, preparing them for careers in policy-making, academia, finance, and consulting within the Indian context, specifically aspiring to contribute to India''''s economic growth.
Why Choose This Course?
Graduates can expect fulfilling career paths in India as economic analysts, data scientists, policy researchers, and financial economists in both government and private sectors. Entry-level salaries typically range from INR 8-15 LPA, with significant growth potential depending on the sector and role. The program aligns well with demand for specialists in financial modeling, econometrics, and public policy in India, preparing for competitive roles in leading organizations.
Student Success Practices
Foundation Stage
Master Core Mathematical Concepts- (Semester 1-2)
Focus on building a solid foundation in calculus, linear algebra, and basic probability. Regularly solve problems from textbooks, attend tutorial sessions, and use online resources like Khan Academy or NPTEL. Form study groups to discuss complex topics and clarify doubts, ensuring a strong base for quantitative economics.
Tools & Resources
MTH 101/102 textbooks, problem sets, online math tutorials, peer study groups, NPTEL courses
Career Connection
Strong mathematical skills are fundamental for advanced economics courses and crucial for quantitative roles in finance, econometrics, and data science in the Indian job market.
Develop Programming and Computational Thinking- (Semester 1-2)
Acquire basic programming skills for problem-solving in an economic context. Engage actively in ESC 101, practice coding regularly, and participate in competitive programming platforms to hone logical thinking and efficiency, which are increasingly important for economic data analysis.
Tools & Resources
Python/C++ programming environment, HackerRank, CodeChef, GeeksforGeeks, online coding tutorials
Career Connection
Essential for data analysis, econometrics, and quantitative modeling, skills that are highly sought after in economic research and industry roles across India.
Cultivate Effective Study Habits- (Semester 1-2)
Establish a routine for consistent learning and self-assessment. Prioritize understanding concepts over rote memorization. Regularly review lecture notes, attempt practice questions, and seek feedback from professors or TAs. This builds discipline crucial for integrated programs.
Tools & Resources
Academic calendars, time management apps, university''''s counseling services for study strategies, peer-to-peer learning platforms
Career Connection
Builds discipline, critical thinking, and independent learning skills, which are vital for academic excellence and long-term professional success in any field, particularly in research-intensive environments.
Intermediate Stage
Deepen Economic Foundations and Quantitative Skills- (Semester 3-5)
Master microeconomics, macroeconomics, and econometrics. Solve advanced problems, read supplementary texts, and connect theoretical concepts to real-world economic scenarios and policy debates in India, strengthening your analytical capabilities.
Tools & Resources
ECO 210/220/230/310/320/330 textbooks, economic journals (e.g., Economic and Political Weekly, Indian Journal of Economics), NPTEL advanced courses, research papers
Career Connection
Forms the core knowledge base for roles in economic analysis, policy formulation, and research at institutions like RBI, NITI Aayog, and consulting firms in India.
Seek Early Research and Project Exposure- (Semester 3-5)
Engage in small-scale research projects or departmental initiatives. Approach professors for opportunities to assist with their research, work on term papers beyond course requirements, or participate in university research competitions to build a research portfolio.
Tools & Resources
Departmental research labs, faculty research interests pages, university research grants for students, student research symposiums
Career Connection
Develops research aptitude, critical thinking, and data analysis skills, crucial for M.S. thesis, future research-oriented careers, or higher studies, especially for roles requiring analytical rigor.
Build a Professional Network- (Semester 3-5)
Connect with peers, alumni, and industry professionals. Attend departmental seminars, guest lectures, and alumni events. Utilize LinkedIn to connect with IITK Economics alumni working in relevant fields in India to gain insights and opportunities.
Tools & Resources
LinkedIn, university alumni portal, departmental event notifications, career fairs
Career Connection
Opens doors to internships, mentorship, and placement opportunities, providing valuable insights into diverse career paths within the Indian economic landscape and enhancing career prospects.
Advanced Stage
Specialized Skill Development for Industry- (Semester 6-8)
Focus on advanced econometrics, game theory, and specific economic fields like development or Indian economy. Take relevant departmental and open electives. Apply theoretical knowledge to case studies, real-world data, and policy simulations concerning India. Consider certifications in data analysis or financial modeling.
Tools & Resources
R/Stata/EViews software, Coursera/edX courses on advanced data science, financial modeling workshops, Indian economic data sources (MOSPI, RBI data), Bloomberg Terminal access
Career Connection
Directly enhances employability in specialized roles in financial services, economic consulting, data analytics, and policy analysis firms in India, catering to specific industry needs.
Intensive Internship and Research Experience- (Semester 6-8 (with thesis spanning Semesters 9-10))
Secure impactful internships in organizations like financial institutions, research think tanks, or government departments. Dedicate significant effort to the M.S. thesis (ECO 599), working closely with your advisor to produce high-quality original research that can be presented and published.
Tools & Resources
IITK Career Development Center, online internship platforms, academic advisors, research databases (JSTOR, Scopus), mentorship programs
Career Connection
Provides practical experience, strengthens your resume with real-world application, and often leads to pre-placement offers. The thesis is a cornerstone for academic and research careers, showcasing deep expertise.
Placement and Career Strategy- (Semester 6-8 (leading into placements in later semesters))
Prepare comprehensively for placements and future career goals. Attend workshops on resume building, interview skills, and group discussions. Research target companies/institutions and practice case interviews specific to economics roles. Network actively with recruiters to understand industry expectations.
Tools & Resources
IITK Placement Cell, mock interview platforms, company-specific preparation materials, LinkedIn, career counseling
Career Connection
Maximizes chances of securing desirable placements in top-tier Indian and multinational companies, government organizations, or gaining admission to prestigious PhD programs in economics globally.
Program Structure and Curriculum
Eligibility:
- Successful completion of 10+2 (or equivalent) with Physics, Chemistry, and Mathematics, and a valid score in JEE Advanced (as per general IITK B.S./B.Tech/B.S.-M.S. admission norms).
Duration: 10 semesters / 5 years
Credits: 178 Credits
Assessment: Assessment pattern not specified
Semester-wise Curriculum Table
Semester 1
| Subject Code | Subject Name | Subject Type | Credits | Key Topics |
|---|---|---|---|---|
| TA 101 | Engineering Graphics | Core | 2 | Projection of points and lines, Orthographic projections, Isometric views, Sectional views, Computer-aided drafting |
| ESC 101 | Fundamentals of Computing | Core | 4 | Introduction to programming, Algorithms and flowcharts, Data types and variables, Control structures (loops, conditionals), Functions and arrays |
| MTH 101 | Concepts in Mathematics | Core | 9 | Differential calculus, Integral calculus, Sequences and series, Multivariable calculus, Vector calculus |
| HSS-I Elective-1 | Humanities and Social Sciences Elective - I | Elective | 2 | Varied topics based on elective choice |
Semester 2
| Subject Code | Subject Name | Subject Type | Credits | Key Topics |
|---|---|---|---|---|
| MTH 102 | Linear Algebra and Differential Equations | Core | 9 | Matrices and determinants, Vector spaces and linear transformations, Eigenvalues and eigenvectors, First-order differential equations, Higher-order linear differential equations |
| PHY 101 | Introduction to Physics | Core | 5 | Classical mechanics, Electromagnetism, Optics, Thermodynamics, Quantum physics concepts |
| PE 101 | Physical Education | Core | 1 | Sports and recreational activities, Physical fitness and wellness, Team building activities, Yoga and meditation, Health awareness |
| HSS-I Elective-2 | Humanities and Social Sciences Elective - II | Elective | 2 | Varied topics based on elective choice |
Semester 3
| Subject Code | Subject Name | Subject Type | Credits | Key Topics |
|---|---|---|---|---|
| ESO 201 | Introduction to Sociology | Core | 3 | Basic sociological concepts, Social institutions and structures, Culture and socialization, Social stratification and inequality, Theories of social change |
| ECO 201 | Principles of Economics | Core | 4 | Microeconomic foundations, Macroeconomic principles, Supply, demand and market equilibrium, Market structures, Economic systems and policy |
| MTH 203 | Mathematical Methods for Economics | Core | 4 | Linear algebra applications, Calculus for optimization, Difference equations, Differential equations in economics, Static and dynamic analysis |
| CSO 201 | Probability and Statistics | Core | 5 | Basic probability theory, Random variables and distributions, Descriptive statistics, Inferential statistics, Hypothesis testing |
| ENG 100 | English Language Skills | Core | 2 | Grammar and composition, Reading comprehension strategies, Public speaking and presentation, Academic writing skills, Effective communication |
| HSS-I Elective-3 | Humanities and Social Sciences Elective - III | Elective | 2 | Varied topics based on elective choice |
Semester 4
| Subject Code | Subject Name | Subject Type | Credits | Key Topics |
|---|---|---|---|---|
| ECO 210 | Microeconomics I | Core | 4 | Consumer theory, Producer theory, Market equilibrium analysis, Welfare economics, Perfect competition |
| ECO 220 | Macroeconomics I | Core | 4 | National income accounting, IS-LM model, Aggregate demand and supply, Inflation and unemployment, Fiscal and monetary policy introduction |
| ECO 230 | Introduction to Econometrics | Core | 5 | Simple linear regression, Multiple regression analysis, Classical linear model assumptions, Hypothesis testing in regression, Violations of assumptions (multicollinearity, heteroskedasticity) |
| MTH 204 | Optimization | Core | 3 | Unconstrained optimization, Constrained optimization (Lagrangian method), Linear programming, Non-linear programming, Convexity and concavity |
| HSS-I Elective-4 | Humanities and Social Sciences Elective - IV | Elective | 2 | Varied topics based on elective choice |
| HSS-II Elective-1 | Humanities and Social Sciences Elective - V | Elective | 2 | Varied topics based on elective choice |
Semester 5
| Subject Code | Subject Name | Subject Type | Credits | Key Topics |
|---|---|---|---|---|
| ECO 310 | Microeconomics II | Core | 4 | General equilibrium theory, Welfare economics extensions, Externalities and public goods, Asymmetric information, Introduction to game theory |
| ECO 320 | Macroeconomics II | Core | 4 | Economic growth models, Business cycle theories, Open economy macroeconomics, Rational expectations, Monetary and fiscal policy debates |
| ECO 330 | Econometrics I | Core | 5 | Generalized Least Squares, Introduction to time series analysis, Panel data methods, Instrumental variables estimation, Simultaneous equations models |
| HSS-I Elective-5 | Humanities and Social Sciences Elective - VI | Elective | 2 | Varied topics based on elective choice |
| HSS-II Elective-2 | Humanities and Social Sciences Elective - VII | Elective | 2 | Varied topics based on elective choice |
| Departmental Elective-1 | Departmental Elective - I | Elective | 3 | Varied topics based on elective choice |
Semester 6
| Subject Code | Subject Name | Subject Type | Credits | Key Topics |
|---|---|---|---|---|
| ECO 300 | History of Economic Thought | Core | 3 | Classical political economy, Marxian economic theory, Neoclassical revolution, Keynesian economics, Contemporary economic schools of thought |
| ECO 340 | Game Theory | Core | 4 | Strategic form games, Extensive form games, Nash equilibrium, Subgame perfect equilibrium, Repeated games and incomplete information |
| ECO 350 | Development Economics | Core | 4 | Theories of economic development, Poverty, inequality, and human capital, Trade, finance, and development, Role of institutions in development, Sustainable development goals |
| Departmental Elective-2 | Departmental Elective - II | Elective | 3 | Varied topics based on elective choice |
| HSS-I Elective-6 | Humanities and Social Sciences Elective - VIII | Elective | 2 | Varied topics based on elective choice |
| HSS-II Elective-3 | Humanities and Social Sciences Elective - IX | Elective | 2 | Varied topics based on elective choice |
Semester 7
| Subject Code | Subject Name | Subject Type | Credits | Key Topics |
|---|---|---|---|---|
| ECO 401 | Seminar Course | Core | 2 | Current research topics in economics, Research methodology, Academic presentation skills, Critical evaluation of economic literature, Writing research proposals |
| ECO 460 | Indian Economy | Core | 4 | Evolution of Indian economy, Sectoral performance (agriculture, industry, services), Economic reforms and policies in India, Poverty, inequality, and employment challenges, Future prospects and policy debates |
| Departmental Elective-3 | Departmental Elective - III | Elective | 3 | Varied topics based on elective choice |
| Open Elective-1 | Open Elective - I | Elective | 3 | Varied topics based on elective choice |
| HSS-I Elective-7 | Humanities and Social Sciences Elective - X | Elective | 2 | Varied topics based on elective choice |
| HSS-II Elective-4 | Humanities and Social Sciences Elective - XI | Elective | 4 | Varied topics based on elective choice |
Semester 8
| Subject Code | Subject Name | Subject Type | Credits | Key Topics |
|---|---|---|---|---|
| MTH 301 | Real Analysis | Core | 4 | Metric spaces, Sequences and series of functions, Continuity and differentiation, Riemann integration, Introduction to measure theory |
| Departmental Elective-4 | Departmental Elective - IV | Elective | 3 | Varied topics based on elective choice |
| Departmental Elective-5 | Departmental Elective - V | Elective | 3 | Varied topics based on elective choice |
| Open Elective-2 | Open Elective - II | Elective | 3 | Varied topics based on elective choice |
| Open Elective-3 | Open Elective - III | Elective | 3 | Varied topics based on elective choice |
| HSS-I Elective-8 | Humanities and Social Sciences Elective - XII | Elective | 3 | Varied topics based on elective choice |
Semester 9
| Subject Code | Subject Name | Subject Type | Credits | Key Topics |
|---|---|---|---|---|
| ECO 599 | M.S. Thesis Part 1 | Project | 9 | Research proposal formulation, Literature review, Methodology design and data collection, Preliminary data analysis, Thesis writing and structuring |
| Departmental Elective-6 | Departmental Elective - VI | Elective | 3 | Varied topics based on elective choice |
| Departmental Elective-7 | Departmental Elective - VII | Elective | 3 | Varied topics based on elective choice |
| Open Elective-4 | Open Elective - IV | Elective | 3 | Varied topics based on elective choice |
Semester 10
| Subject Code | Subject Name | Subject Type | Credits | Key Topics |
|---|---|---|---|---|
| ECO 599 | M.S. Thesis Part 2 | Project | 9 | Advanced data analysis and interpretation, Refinement of research findings, Completion of thesis manuscript, Thesis defense preparation, Contribution to economic literature |
