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INTEGRATED-B-SC-M-SC in Economics at Indian Institute of Technology Roorkee
Haridwar, Uttarakhand
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About the Specialization
What is Economics at Indian Institute of Technology Roorkee Haridwar?
This Integrated B.Sc. + M.Sc. Economics program at IIT Roorkee focuses on providing a deep theoretical and empirical understanding of economic principles. It emphasizes quantitative methods and policy analysis, preparing students for rigorous research and impactful careers. The curriculum is designed to meet the evolving demands of the Indian and global economic landscape, fostering analytical and problem-solving skills.
Who Should Apply?
This program is ideal for high school graduates with a strong aptitude for mathematics and social sciences, aspiring to careers in economics, finance, or public policy. It also suits those seeking a strong foundation for advanced doctoral studies. Individuals interested in interdisciplinary approaches to economic problems, from policy formulation to data-driven decision-making, will find this program highly rewarding.
Why Choose This Course?
Graduates of this program can expect diverse India-specific career paths in sectors like banking, financial services, consulting, economic policy think tanks, and research organizations. Entry-level salaries typically range from INR 6-12 LPA, with significant growth potential to 20-30+ LPA for experienced professionals. The program aligns with certifications in econometrics, data analysis, and financial modeling, enhancing employability.
Student Success Practices
Foundation Stage
Build a Strong Quantitative Foundation- (Semester 1-2)
Dedicate extra effort to foundational mathematics, statistics, and introductory computer science courses in the initial semesters. Utilize online platforms like Khan Academy and NPTEL for supplemental learning to ensure a solid grasp of concepts crucial for advanced economics. This strong base is indispensable for excelling in econometrics and mathematical economics.
Tools & Resources
Khan Academy, NPTEL, MIT OpenCourseware, Departmental tutorials
Career Connection
Mastering these quantitative skills early on sets the stage for success in analytics-heavy roles in finance, consulting, and economic research, which are highly valued in the Indian job market.
Cultivate Interdisciplinary Thinking- (Semester 1-2)
Engage actively in discussions and assignments for psychology, sociology, and philosophy courses. Seek to understand how these non-economic perspectives intersect with economic phenomena, especially in an Indian context. Participate in college clubs or events that promote interdisciplinary dialogue.
Tools & Resources
Academic journals (e.g., Economic and Political Weekly), Interdisciplinary college societies
Career Connection
Developing a holistic understanding helps in formulating comprehensive policy recommendations and provides a unique edge in roles requiring nuanced social and behavioral insights, common in Indian public sector and social impact organizations.
Develop Effective Study Habits and Peer Learning- (Semester 1-2)
Form study groups with peers to discuss challenging concepts, solve problems, and prepare for examinations. Actively participate in class, ask questions, and seek clarification from professors. Time management and consistent revision are crucial for academic excellence at an IIT.
Tools & Resources
IIT Roorkee Library resources, Collaborative online tools (Google Docs, Microsoft Teams), Peer mentoring programs
Career Connection
Strong academic performance and collaborative skills are directly linked to better internship opportunities and placements in top-tier Indian companies and institutions, as well as preparing for competitive exams like UPSC.
Intermediate Stage
Gain Practical Experience through Internships- (Semester 3-5 (during summer breaks))
Seek internships in economic research, data analytics, or financial analysis roles after 3rd or 4th semester. Target organizations like think tanks, government bodies, banks, or consulting firms in India. Focus on applying theoretical knowledge to real-world datasets and projects.
Tools & Resources
IIT Roorkee Career Development Centre, LinkedIn, Internshala, Company career pages
Career Connection
Internships are critical for building a resume, gaining industry exposure, and often lead to pre-placement offers or strong recommendations, significantly boosting placement prospects in competitive Indian markets.
Specialize in Quantitative Tools and Software- (Semester 3-5)
Beyond coursework, independently learn and master economic software like R, Python for data analysis, Stata, EViews, or SAS for econometrics. Work on personal projects using publicly available datasets (e.g., from NSSO, RBI, World Bank) to build a portfolio of analytical skills.
Tools & Resources
Coursera/edX courses on R/Python for Data Science, Udemy for Econometrics software tutorials, Kaggle for datasets
Career Connection
Proficiency in statistical software and programming languages is a non-negotiable skill for economic analysts, data scientists, and researchers in India, opening doors to highly sought-after roles.
Participate in Economic Competitions and Workshops- (Semester 3-5)
Engage in economics-related case competitions, essay contests, and workshops organized by IIT Roorkee''''s departments or other reputed institutions. These activities refine problem-solving skills, critical thinking, and expose students to contemporary economic challenges relevant to India.
Tools & Resources
Economia - Economics Society of IIT Roorkee, RBI Research Challenges, National-level policy hackathons
Career Connection
Such participations enhance leadership, teamwork, and presentation skills, making candidates more attractive to employers and demonstrating proactive learning beyond the curriculum.
Advanced Stage
Undertake Impactful Research Projects- (Semester 7-10)
Utilize the Master''''s project work (Project-I & II) to delve into a specific economic problem relevant to India, applying advanced econometric techniques. Aim for high-quality research that can be presented at conferences or potentially published, under strong faculty mentorship.
Tools & Resources
IIT Roorkee research labs, Access to academic databases (JSTOR, Scopus), Advanced statistical software
Career Connection
A strong research project, especially one leading to publication or presentation, is a significant differentiator for academic careers, think tanks, and research-focused roles in India and abroad, including PhD admissions.
Network with Industry Professionals and Alumni- (Semester 6-10)
Actively attend guest lectures, seminars, and alumni networking events organized by the department or institute. Connect with economists, policymakers, and industry leaders on platforms like LinkedIn to explore career opportunities and gain mentorship. Alumni often provide valuable insights into specific Indian sectors.
Tools & Resources
IIT Roorkee Alumni Network portal, LinkedIn, Industry conferences and webinars
Career Connection
Networking is crucial for uncovering hidden job opportunities, getting referrals, and receiving career guidance that is specifically tailored to the Indian economic landscape, leading to better placements.
Prepare Rigorously for Placements/Higher Studies- (Semester 8-10)
Begin preparing for campus placements by refining interview skills, crafting compelling resumes and cover letters. For higher studies, prepare for GRE/GMAT, statement of purpose, and obtain strong recommendation letters. Focus on showcasing specialized economic knowledge and quantitative abilities for Indian and global opportunities.
Tools & Resources
IIT Roorkee Placement Cell resources, Mock interview sessions, Career counseling services, Online test prep platforms
Career Connection
Dedicated preparation ensures students are well-equipped to secure coveted positions in top Indian and international firms, or gain admission to prestigious PhD programs globally, maximizing the return on their integrated degree.
Program Structure and Curriculum
Eligibility:
- Admission through JEE (Advanced) - Requires qualifying JEE (Advanced) examination and fulfilling 10+2 academic requirements as per JoSAA/IIT Roorkee admission guidelines.
Duration: 10 semesters / 5 years
Credits: 183 Credits
Assessment: Assessment pattern not specified
Semester-wise Curriculum Table
Semester 1
| Subject Code | Subject Name | Subject Type | Credits | Key Topics |
|---|---|---|---|---|
| HS-101 | Introduction to Psychology | Core | 3 | Goals and Fields of Psychology, Research Methods in Psychology, Biological Bases of Behavior, Sensation and Perception, Learning and Memory, Personality and Social Psychology |
| HS-102 | Introduction to Philosophy | Core | 3 | Nature of Philosophy, Branches of Philosophy (Metaphysics, Epistemology, Ethics), Indian Philosophical Systems, Western Philosophical Traditions, Logic and Argumentation, Philosophy of Mind and Language |
| MA-101 | Mathematics-I | Core | 4 | Differential Calculus, Integral Calculus, Multivariable Calculus, Sequences and Series, Vector Calculus, Applications of Derivatives and Integrals |
| MA-102 | Mathematics-II | Core | 4 | Linear Algebra, Matrices and Determinants, Vector Spaces, Eigenvalues and Eigenvectors, Ordinary Differential Equations, Laplace Transforms |
| CH-101 | Engineering Chemistry | Core | 4 | Atomic Structure and Chemical Bonding, Thermodynamics and Electrochemistry, Reaction Kinetics, Polymers and Materials Chemistry, Spectroscopy, Environmental Chemistry |
| CH-102 | Engineering Chemistry Lab | Lab | 3 | Volumetric Analysis, Gravimetric Analysis, Instrumental Methods, Synthesis of Organic Compounds, Water Quality Analysis, Physical Chemistry Experiments |
Semester 2
| Subject Code | Subject Name | Subject Type | Credits | Key Topics |
|---|---|---|---|---|
| HS-103 | Introduction to Sociology | Core | 3 | Nature and Scope of Sociology, Social Institutions and Structures, Culture and Socialization, Social Stratification and Inequality, Social Change and Development, Sociological Theories |
| HS-104 | Introduction to Economics | Core | 3 | Basic Economic Problems, Demand and Supply Analysis, Market Structures, National Income Accounting, Inflation and Unemployment, Fiscal and Monetary Policy |
| MA-103 | Mathematics-III | Core | 4 | Complex Analysis, Partial Differential Equations, Fourier Series, Numerical Methods, Probability and Statistics, Calculus of Variations |
| CS-101 | Introduction to Computer Science | Core | 4 | Programming Fundamentals, Data Structures, Algorithms, Operating Systems Basics, Database Concepts, Networking Fundamentals |
| PH-101 | Physics | Core | 4 | Classical Mechanics, Electromagnetism, Optics, Quantum Mechanics Introduction, Thermodynamics and Statistical Physics, Special Theory of Relativity |
| PH-102 | Physics Lab | Lab | 3 | Basic Measurement Techniques, Experiments on Mechanics, Experiments on Electricity and Magnetism, Experiments on Optics, Semiconductor Devices, Data Analysis and Error Calculation |
Semester 3
| Subject Code | Subject Name | Subject Type | Credits | Key Topics |
|---|---|---|---|---|
| HS-201 | Microeconomics-I | Core | 3 | Consumer Behavior and Utility, Demand Theory, Production and Cost Analysis, Market Structures: Perfect Competition, Monopoly and Price Discrimination, Welfare Economics Introduction |
| HS-202 | Macroeconomics-I | Core | 3 | National Income Accounting, Keynesian Model, IS-LM Model, Aggregate Demand and Supply, Inflation and Unemployment, Business Cycles |
| HS-203 | Econometrics-I | Core | 3 | Introduction to Econometrics, Simple Linear Regression, Multiple Linear Regression, Hypothesis Testing, Violation of Classical Assumptions, Dummy Variables |
| HS-204 | Development Economics-I | Core | 3 | Concepts of Economic Development, Theories of Economic Growth, Poverty and Inequality, Population Growth and Development, Human Capital and Education, Role of Agriculture in Development |
| HS-205 | Indian Economy-I | Core | 3 | Structure of Indian Economy, Economic Planning in India, Agriculture Sector in India, Industrial Sector in India, Services Sector in India, Poverty, Inequality and Employment in India |
| HS-206 | Applied Statistics | Core | 3 | Probability Distributions, Sampling Theory, Hypothesis Testing, Analysis of Variance, Correlation and Regression, Non-parametric Tests |
Semester 4
| Subject Code | Subject Name | Subject Type | Credits | Key Topics |
|---|---|---|---|---|
| HS-207 | Microeconomics-II | Core | 3 | Oligopoly and Game Theory, Factor Markets, General Equilibrium Theory, Market Failures and Externalities, Public Goods, Asymmetric Information |
| HS-208 | Macroeconomics-II | Core | 3 | Money and Banking, Monetary Policy, Fiscal Policy, Open Economy Macroeconomics, Exchange Rates, International Financial Markets |
| HS-209 | Econometrics-II | Core | 3 | Time Series Econometrics, Panel Data Econometrics, Limited Dependent Variable Models, Simultaneous Equation Models, Instrumental Variables, Forecasting Techniques |
| HS-210 | Development Economics-II | Core | 3 | Poverty Alleviation Strategies, Gender and Development, Environment and Development, Rural and Urban Development, International Aid and Development, Institutions and Economic Development |
| HS-211 | Indian Economy-II | Core | 3 | Fiscal Federalism in India, Monetary Policy in India, India''''s External Sector, Financial Sector Reforms in India, Social Sector Development in India, Challenges and Prospects of Indian Economy |
| HS-212 | Research Methodology | Core | 3 | Types of Research, Research Design, Data Collection Methods, Sampling Techniques, Data Analysis and Interpretation, Report Writing and Ethics |
Semester 5
| Subject Code | Subject Name | Subject Type | Credits | Key Topics |
|---|---|---|---|---|
| HS-301 | Public Economics | Core | 3 | Role of Government in Economy, Public Goods and Externalities, Taxation Theory and Policy, Public Expenditure, Fiscal Policy and Budget, Indian Fiscal System |
| HS-302 | International Economics | Core | 3 | Theories of International Trade, Terms of Trade, Trade Policy Instruments, Balance of Payments, Foreign Exchange Markets, International Economic Institutions |
| HS-303 | Mathematical Economics | Core | 3 | Optimization Techniques, Static and Dynamic Analysis, Game Theory Applications, Input-Output Analysis, Linear Programming, Difference and Differential Equations in Economics |
| HS-304 | Environmental Economics | Core | 3 | Environmental Problems and Economic Growth, Market Failure and Environmental Externalities, Valuation of Environmental Resources, Environmental Policy Instruments, Sustainable Development, Climate Change Economics |
| HS-305 | History of Economic Thought | Core | 3 | Mercantilism and Physiocracy, Classical School: Smith, Ricardo, Malthus, Marxian Economics, Neoclassical Economics, Keynesian Revolution, Contemporary Economic Thought |
| HS-306 | Financial Economics | Core | 3 | Time Value of Money, Asset Valuation, Risk and Return, Portfolio Theory, Efficient Market Hypothesis, Derivatives and Hedging |
Semester 6
| Subject Code | Subject Name | Subject Type | Credits | Key Topics |
|---|---|---|---|---|
| HS-307 | Industrial Economics | Core | 3 | Industrial Organization Theories, Market Concentration and Performance, Pricing Strategies, Innovation and Technology, Industrial Policies in India, Mergers and Acquisitions |
| HS-308 | Agricultural Economics | Core | 3 | Structure of Agricultural Economy, Agricultural Production Functions, Risk and Uncertainty in Agriculture, Agricultural Marketing and Prices, Agricultural Policy in India, Food Security and WTO |
| HS-309 | Health Economics | Core | 3 | Demand and Supply of Health, Health Care Financing, Health Insurance, Health Outcomes and Inequalities, Economic Evaluation of Health Programs, Indian Health Sector Challenges |
| HS-310 | Labor Economics | Core | 3 | Labor Supply and Demand, Wage Determination, Human Capital Theory, Discrimination in Labor Markets, Unemployment and Labor Market Policies, Industrial Relations in India |
| HSE-XXX | Departmental Elective-I | Elective | 3 | Choice from a basket of advanced subjects |
Semester 7
| Subject Code | Subject Name | Subject Type | Credits | Key Topics |
|---|---|---|---|---|
| HS-401 | Advanced Microeconomics | Core | 3 | Consumer Theory Extensions, Producer Theory Extensions, Market Structure and Strategic Interaction, Welfare Economics and Social Choice, Economics of Uncertainty, Behavioral Economics Foundations |
| HS-402 | Advanced Macroeconomics | Core | 3 | Dynamic Stochastic General Equilibrium Models, Economic Growth Theories, Consumption and Investment Theories, New Keynesian Economics, Open Economy Macroeconomics Models, Fiscal and Monetary Policy in Dynamic Settings |
| HSE-XXX | Departmental Elective-II | Elective | 3 | Choice from a basket of advanced subjects |
| HSE-XXX | Departmental Elective-III | Elective | 3 | Choice from a basket of advanced subjects |
| HS-491 | Project-I | Project | 3 | Problem Identification and Literature Review, Methodology Design, Data Collection and Analysis, Preliminary Findings, Report Writing, Presentation Skills |
Semester 8
| Subject Code | Subject Name | Subject Type | Credits | Key Topics |
|---|---|---|---|---|
| HS-403 | Time Series Econometrics | Core | 3 | Stationarity and Unit Roots, ARIMA Models, Vector Autoregression (VAR), Cointegration, Volatility Models (ARCH, GARCH), Forecasting with Time Series Models |
| HS-404 | Panel Data Econometrics | Core | 3 | Fixed Effects Model, Random Effects Model, Dynamic Panel Data Models, Endogeneity in Panel Data, Generalized Method of Moments (GMM), Applications of Panel Data |
| HSE-XXX | Departmental Elective-IV | Elective | 3 | Choice from a basket of advanced subjects |
| HSE-XXX | Departmental Elective-V | Elective | 3 | Choice from a basket of advanced subjects |
| HS-492 | Project-II | Project | 3 | Advanced Data Analysis, Model Development and Testing, Interpretation of Results, Policy Implications, Thesis Writing, Research Presentation |
Semester 9
| Subject Code | Subject Name | Subject Type | Credits | Key Topics |
|---|---|---|---|---|
| HSE-XXX | Departmental Elective-VI | Elective | 3 | Choice from a basket of advanced subjects |
| HSE-XXX | Departmental Elective-VII | Elective | 3 | Choice from a basket of advanced subjects |
| HSE-XXX | Departmental Elective-VIII | Elective | 3 | Choice from a basket of advanced subjects |
| HSE-XXX | Departmental Elective-IX | Elective | 3 | Choice from a basket of advanced subjects |
| HSE-XXX | Departmental Elective-X | Elective | 3 | Choice from a basket of advanced subjects |
| HS-591 | Master''''s Project-I | Project | 6 | Comprehensive Research Proposal, Advanced Theoretical Framework, Methodological Sophistication, Large Scale Data Handling, Initial Chapters of Thesis, Interdisciplinary Research |
Semester 10
| Subject Code | Subject Name | Subject Type | Credits | Key Topics |
|---|---|---|---|---|
| HSE-XXX | Departmental Elective-XI | Elective | 3 | Choice from a basket of advanced subjects |
| HSE-XXX | Departmental Elective-XII | Elective | 3 | Choice from a basket of advanced subjects |
| HSE-XXX | Departmental Elective-XIII | Elective | 3 | Choice from a basket of advanced subjects |
| HSE-XXX | Departmental Elective-XIV | Elective | 3 | Choice from a basket of advanced subjects |
| HS-592 | Master''''s Project-II | Project | 9 | Thesis Completion and Defense, Publication Readiness, Ethical Considerations in Research, Dissemination of Findings, Policy Recommendations, Academic Presentation Skills |
