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INTEGRATED-M-SC in Economics at Indian Institute of Technology Kharagpur
Paschim Medinipur, West Bengal
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About the Specialization
What is Economics at Indian Institute of Technology Kharagpur Paschim Medinipur?
This Integrated M.Sc. in Economics program at Indian Institute of Technology Kharagpur focuses on providing a comprehensive understanding of economic theory, quantitative methods, and their real-world applications. It is uniquely positioned in India to blend rigorous analytical training with interdisciplinary perspectives from the humanities and social sciences, preparing students for complex economic challenges and policymaking.
Who Should Apply?
This program is ideal for high school graduates with a strong aptitude for mathematics and social sciences, aspiring to build a robust career in economics. it caters to students seeking a deeper analytical foundation before pursuing research, or those aiming for roles in economic consulting, financial analysis, public policy, and data science in various Indian industries.
Why Choose This Course?
Graduates of this program can expect diverse career paths in India, including roles as economists, financial analysts, data scientists, policy advisors, and researchers in government, private sector, and academia. Entry-level salaries typically range from INR 7-12 LPA, with significant growth potential. The strong quantitative and analytical skills developed align well with certifications in financial modeling and business analytics.
Student Success Practices
Foundation Stage
Master Core Mathematical & Statistical Foundations- (Semester 1-2)
Dedicate significant time to thoroughly grasp foundational mathematics (Calculus, Linear Algebra) and statistics. Utilize online platforms like Khan Academy, NPTEL, and textbooks recommended by professors. Form study groups to solve problems collaboratively, ensuring a strong base for advanced economic modeling.
Tools & Resources
NPTEL courses on Mathematics for Economists, MIT OpenCourseware, Departmental tutorials
Career Connection
A strong quantitative foundation is critical for advanced econometrics, financial modeling, and data analysis roles, which are highly sought after in Indian consulting and finance sectors.
Develop Effective Study Habits & Time Management- (Semester 1-2)
Establish a consistent study routine, prioritizing core subjects. Practice active recall and spaced repetition techniques. Leverage institutional resources like the Central Library for study spaces and academic support. Balance academic rigor with extracurricular activities to prevent burnout and foster holistic development.
Tools & Resources
Pomodoro Technique, Google Calendar/To-Do apps, IIT Kharagpur''''s academic counseling services
Career Connection
Strong organizational skills are essential for managing multiple projects and deadlines in a professional environment, enhancing productivity and project delivery in any career path.
Engage in Early Skill Building & Peer Learning- (Semester 1-2)
Actively participate in departmental seminars, workshops, and peer-led study sessions. Seek out opportunities to present concepts, fostering communication and critical thinking. Join relevant student societies like the Economics Society to broaden perspectives and network with seniors and faculty.
Tools & Resources
Departmental seminars, Student clubs (e.g., Economics Society), Collaborative online whiteboards
Career Connection
Early engagement builds soft skills like teamwork, communication, and presentation, crucial for interviews and collaborative work environments in Indian startups and corporate roles.
Intermediate Stage
Apply Theoretical Knowledge to Real-world Problems- (Semester 3-5)
Actively seek opportunities to apply economic theories to current Indian economic scenarios through case studies, term papers, and discussions. Participate in economic competitions or policy debate clubs. Consider working on small research projects under faculty guidance to gain practical research experience.
Tools & Resources
Economic Times, Livemint, RBI publications, NITI Aayog reports, Case study competitions
Career Connection
Translating theory into practice is highly valued by employers in consulting, policy analysis, and financial services in India, demonstrating problem-solving capabilities.
Develop Quantitative & Analytical Software Skills- (Semester 3-5)
Beyond theoretical econometrics, gain hands-on proficiency in statistical software (R, Python with Pandas/Numpy, Stata, EViews) and data visualization tools. Utilize online courses, workshops, and practical assignments to build a strong portfolio of analytical projects. Focus on Indian economic datasets.
Tools & Resources
Coursera/edX courses on R/Python for Data Science, Kaggle, Ministry of Statistics & Programme Implementation (MoSPI) data
Career Connection
Proficiency in data analysis tools is a prerequisite for roles in data science, business analytics, and quantitative finance, offering a competitive edge in the Indian job market.
Seek Internships and Industry Exposure- (Semester 3-5)
Actively pursue summer internships with financial institutions, consulting firms, research organizations, or government bodies in India. Leverage the institute''''s career development center and alumni network for leads. These experiences are invaluable for understanding industry dynamics and building a professional network.
Tools & Resources
IIT Kharagpur Career Development Centre, LinkedIn, Internshala, Alumni Connect platforms
Career Connection
Internships provide crucial practical experience, often leading to pre-placement offers, and significantly enhance employability in competitive Indian industries.
Advanced Stage
Specialize through Electives and Advanced Research- (Semester 6-10)
Strategically choose electives that align with your career aspirations (e.g., financial economics, development economics, behavioral economics). Engage in a significant final year project or thesis, focusing on a specific economic problem relevant to India. This deep specialization differentiates your profile.
Tools & Resources
Faculty research interests, Journal databases (JSTOR, EconLit), Conferences and workshops
Career Connection
Specialized knowledge and research experience are highly valued for roles in niche consulting, academia, and advanced research positions within think tanks and corporations.
Master Interview Preparation and Networking- (Semester 6-10)
Actively prepare for placement interviews, focusing on both technical economics questions and behavioral aspects. Participate in mock interviews, resume workshops, and networking events. Build a strong online professional presence. Leverage the IIT Kharagpur brand and alumni network effectively.
Tools & Resources
Placement Cell workshops, Mock interview platforms, LinkedIn for professional networking, Alumni mentorship programs
Career Connection
Thorough preparation for placement processes ensures successful entry into top-tier companies and organizations, securing desirable roles and packages in the Indian market.
Develop Leadership & Professional Communication Skills- (Semester 6-10)
Take on leadership roles in student organizations, departmental events, or group projects. Practice effective written and oral communication through presentations, reports, and public speaking opportunities. Seek feedback to continuously refine these skills, which are essential for career progression.
Tools & Resources
Toastmasters International (if available), Presentation software (PowerPoint, Prezi), Public speaking workshops
Career Connection
Strong leadership and communication skills are vital for ascending to managerial and strategic roles, enabling effective collaboration and influence within Indian and global organizations.
Program Structure and Curriculum
Eligibility:
- Successful qualification in JEE (Advanced) conducted by the IITs, along with specific academic criteria (typically 10+2 with Science stream or equivalent, meeting minimum score requirements as per IIT Kharagpur admission guidelines).
Duration: 5 years / 10 semesters
Credits: 204 Credits
Assessment: Assessment pattern not specified
Semester-wise Curriculum Table
Semester 1
| Subject Code | Subject Name | Subject Type | Credits | Key Topics |
|---|---|---|---|---|
| EC11001 | Microeconomics-I | Core | 4 | |
| EC11002 | Macroeconomics-I | Core | 3 | |
| HS11001 | English for Communication | Core | 2 | |
| HS11002 | English Language Lab | Lab | 2 | |
| MA11001 | Mathematics-I | Core | 4 | |
| PH11001 | Physics-I | Core | 4 | |
| PH19001 | Physics Lab | Lab | 2 | |
| ID11001 | Introduction to Manufacturing Processes | Core | 1 |
Semester 2
| Subject Code | Subject Name | Subject Type | Credits | Key Topics |
|---|---|---|---|---|
| EC12001 | Microeconomics-II | Core | 3 | |
| EC12002 | Macroeconomics-II | Core | 4 | |
| HS12001 | Ethics and the Human Condition | Core | 2 | |
| MA12001 | Mathematics-II | Core | 4 | |
| CS10001 | Programming and Data Structure | Core | 4 | |
| CH11001 | Chemistry-I | Core | 4 | |
| CH19001 | Chemistry Lab | Lab | 2 | |
| EC29001 | Project I (Summer Term after Semester 2) | Project | 4 |
Semester 3
| Subject Code | Subject Name | Subject Type | Credits | Key Topics |
|---|---|---|---|---|
| EC21001 | Econometrics-I | Core | 4 | |
| EC21002 | Mathematical Methods for Economics | Core | 4 | |
| HS21001 | Environmental Science | Core | 4 | |
| HS Elective I | HSS Elective I | Elective | 4 | |
| PE19001 | Physical Education I | Core | 2 | |
| EV19001 | NCC/NSS/NSO | Core | 2 |
Semester 4
| Subject Code | Subject Name | Subject Type | Credits | Key Topics |
|---|---|---|---|---|
| EC22001 | Econometrics-II | Core | 4 | |
| EC22002 | Microeconomics-III | Core | 4 | |
| EC22003 | Macroeconomics-III | Core | 4 | |
| HS Elective II | HSS Elective II | Elective | 4 | |
| PE19002 | Physical Education II | Core | 2 | |
| EV19002 | NCC/NSS/NSO | Core | 2 | |
| EC39001 | Project II (Summer Term after Semester 4) | Project | 4 |
Semester 5
| Subject Code | Subject Name | Subject Type | Credits | Key Topics |
|---|---|---|---|---|
| EC31001 | Development Economics | Core | 4 | |
| EC31002 | Public Economics | Core | 4 | |
| EC31003 | Indian Economy | Core | 4 | |
| HS Elective III | HSS Elective III | Elective | 4 | |
| Department Elective I | Department Elective I | Elective | 2 | |
| Department Elective II | Department Elective II | Elective | 2 |
Semester 6
| Subject Code | Subject Name | Subject Type | Credits | Key Topics |
|---|---|---|---|---|
| EC32001 | International Economics | Core | 4 | |
| EC32002 | Financial Economics | Core | 4 | |
| EC32003 | Game Theory | Core | 4 | |
| HS Elective IV | HSS Elective IV | Elective | 4 | |
| Department Elective III | Department Elective III | Elective | 2 | |
| Department Elective IV | Department Elective IV | Elective | 2 |
Semester 7
| Subject Code | Subject Name | Subject Type | Credits | Key Topics |
|---|---|---|---|---|
| EC41001 | Optimization Theory | Core | 4 | |
| EC41002 | Environmental Economics | Core | 4 | |
| HS Elective V | HSS Elective V | Elective | 4 | |
| EC Minor Elective I | EC Minor Elective I | Elective | 3 | |
| Open Elective I | Open Elective I | Elective | 3 |
Semester 8
| Subject Code | Subject Name | Subject Type | Credits | Key Topics |
|---|---|---|---|---|
| EC42001 | Applied Econometrics | Core | 4 | |
| EC42002 | Quantitative Finance | Core | 4 | |
| Department Elective V | Department Elective V | Elective | 4 | |
| EC Minor Elective II | EC Minor Elective II | Elective | 3 | |
| Open Elective II | Open Elective II | Elective | 3 |
Semester 9
| Subject Code | Subject Name | Subject Type | Credits | Key Topics |
|---|---|---|---|---|
| EC51001 | Advanced Microeconomics | Core | 4 | |
| EC51002 | Advanced Macroeconomics | Core | 4 | |
| Department Elective VI | Department Elective VI | Elective | 4 | |
| EC58001 | Project/Thesis I | Project | 3 | |
| Open Elective III | Open Elective III | Elective | 3 |
Semester 10
| Subject Code | Subject Name | Subject Type | Credits | Key Topics |
|---|---|---|---|---|
| EC52001 | Advanced Econometrics | Core | 4 | |
| Department Elective VII | Department Elective VII | Elective | 4 | |
| EC58002 | Project/Thesis II | Project | 4 | |
| Open Elective IV | Open Elective IV | Elective | 3 | |
| Comprehensive Viva-Voce | Comprehensive Viva-Voce | Core | 2 |
