MA in Economics

Master Economic Theories and Quantitative Skills With an MA in Economics


A Master of Arts(MA) in Economics is a postgraduate degree that is designed to equip students with advanced knowledge and skills in economic theory, analysis and research. The duration of an MA in Economics program is typically two years of full-time study, during which students develop advanced quantitative and analytical skills, critical thinking abilities and the capacity to apply economic theories to real-world problems. 

The course curriculum of this program typically includes core subjects including microeconomic and macroeconomic theory, providing a deep understanding of individual economic behaviour as well as aggregate economic variables such as national income, inflation and unemployment to the students. The program mainly teaches the latest principles of economic theory through practical learning to the students by including various internship programmes, workshops and seminars in the curriculum. 

Moreover, the students often study econometrics which mainly focuses on the statistical methods essential for economic research and data analysis.  Specialised electives allow students to tailor their studies to specific areas of interest, such as international economics, public economics, development economics and behavioural economics. These courses delve into topics such as global economic interactions, the role of government in the economy, economic issues in developing countries and the psychological factors influencing economic decision-making.

A crucial component of many MA in Economics programs is the completion of a thesis or capstone project, providing students with an opportunity to apply their skills to a specific research area. Additionally, students often participate in seminar series where ongoing research, economic trends and contemporary issues in the field are discussed. Some programs may also offer internship opportunities to provide practical experience and facilitate networking with professionals in the field.

Upon completion, graduates are well-prepared for diverse career opportunities in academia, research institutions, government agencies, international organisations, financial institutions and private industry. When considering an MA in Economics, students should carefully research and compare program offerings, considering factors such as faculty expertise, research opportunities and alumni outcomes to find the program that suits their career goals and interests the most


The core subjects in a Master of Arts (MA) in Economics program typically cover a broad range of topics in microeconomic and macroeconomic theory, econometrics and quantitative methods. Here are common core subjects given below:

  • Microeconomic Theory
  • Macroeconomic Theory
  • Econometrics
  • Mathematical Economics
  • Statistics for Economics
  • Applied Microeconomics
  • Applied Macroeconomics
  • Research Methods in Economics
  • Economic Policy Analysis
  • Dissertation or Thesis

These major subjects provide a solid foundation for students pursuing advanced studies in economics.

Practical Learning

Master of Arts (MA) in Economics programs often incorporates practical learning elements to complement theoretical knowledge. It aims to enhance the skills of students, providing exposure to real-world applications of economic principles and preparing them for various career paths. Here are some of them listed below:

  • Internships
  • Research Projects
  • Case Studies
  • Economic Modelling
  • Policy Analysis
  • Data Analysis and Econometrics
  • Seminar Participation
  • Professional Development
  • Industry Collaborations

By integrating practical learning experiences into the curriculum, this program aims to produce graduates who are not only well-versed in economic theories but also capable of applying their knowledge to address practical challenges in various sectors, including government, finance, research and consulting.

Course Curriculum

The course curriculum for a Master of Arts (MA) in Economics with a duration of two years is designed to provide students with an understanding of economic theories, analytical methods and real-world applications. 

First Year 

  • Microeconomic Theory I
  • Macroeconomic Theory I
  • Mathematical Economics
  • Research Methods in Economics
  • Financial Economics
  • Game Theory
  • Microeconomic Theory II
  • Macroeconomic Theory II
  • Econometrics I
  • International Economics
  • Development Economics
  • Seminar Series or Workshop
  • Internship or Research Project

Second Year 

  • Applied Econometrics
  • Environmental Economics
  • Health Economics
  • Public Economics
  • Labor Economics
  • Specialisation or General Electives
  • Seminar Series or Workshop
  • Thesis or Capstone Project
  • Advanced Topics in Economics
  • Professional Development and Career Planning
  • Comprehensive Exam or Final Presentation 

Top Institutes

India has several reputed institutes that offer Master of Arts (MA) programs in Economics. The selection of the best institute can depend on various factors, including faculty expertise, infrastructure, research opportunities and placement records. Here are some of the top institutes for an MA in Economics in India:

  • Delhi School of Economics (DSE)
  • Jawaharlal Nehru University (JNU)
  • University of Hyderabad
  • Indian Statistical Institute (ISI)
  • Madras School of Economics (MSE)

Furthermore, it is advisable to verify the most recent accreditation status and consult the latest rankings when making well-informed choices about enrolling in this specified course.

Career Growth

The potential for career advancement depends on factors such as the individual's career goals, specialisation and the sectors they choose to work in. Here are several ways in which an MA in Economics can contribute to career growth:

  • Specialised Expertise
  • Research Opportunities
  • Advanced Analytical Skills
  • Networking Opportunities
  • Consulting Roles
  • Management Positions
  • Entrepreneurship
  • International Opportunities

Additionally, gaining practical experience through internships and applying economic principles to real-world challenges can enhance career advancement prospects.


A Master of Arts (MA) in Economics offers a wide scope of opportunities across various sectors due to the versatile skills and knowledge acquired during the program. Here are some key areas where individuals with an MA in Economics can find rewarding career opportunities:

  • Government and Public Policy
  • International Organisations
  • Financial Services
  • Consulting Firms
  • Academia and Research
  • Private Sector
  • Nonprofit Organisations
  • Healthcare Sector
  • Environmental and Energy Economics
  • Education Sector
  • NGOs and Development Organisations

Moreover, continuous learning, networking and staying updated on economic trends further enhance the career prospects for individuals with an MA in Economics.

Pros & Cons

Pros of pursuing a MA in Economics:

  • Advanced Knowledge and Skills
  • Versatility of Career Options
  • Research Opportunities
  • Networking Opportunities
  • Career Advancement
  • High Demand in the Job Market

Cons of pursuing a MA in Economics:

  • Quantitative Rigour
  • Competitive Job Market
  • Time and Financial Investment
  • Evolution of Economic Theory