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Master of Science in Quantitative Economics (MSQE) program at the Indian Statistical Institute (ISI)

ISI is one of the top ranked Economics departments in India.This is a two-year advanced programme in Economics(Master of Science in Quantitative Economics) and its applications, with special emphasis on quantitative methods. On successful completion of the MA Eco programme, a student will be able to pursue an academic career in Economics or take up responsible positions in various private and public sector organizations. It is offered simultaneously at Kolkata and Delhi.The entire course is taught in four semesters over two years. Students take about four to five courses in each semester.

The eligibility criteria for admission to the Master of Science in Quantitative Economics (MSQE) program at the Indian Statistical Institute (ISI) for the year 2023 are as follows:

  1. Educational Qualification: Candidates must have a Bachelor’s degree in Economics, Mathematics, Statistics or any other discipline with at least 55% marks (50% for SC/ST/PwD candidates) from a recognized university.
  2. Age Limit: The upper age limit for the general category is 30 years as on July 01 of the admission year. Relaxation of up to 5 years is given for SC/ST/PwD candidates and for women candidates.
  3. Entrance Exam: Candidates must appear for the entrance exam and an interview conducted by ISI for admission to the MSQE program.

It is important to note that meeting the minimum eligibility criteria for ISI (MSQE) does not guarantee admission to the program. The selection process also includes additional criteria such as performance in the entrance exam, interviews, and/or previous academic records. Admission to the academic programmes of the Indian Statistical Institute is based strictly on the merit of the candidates as judged by their performance in appropriate admission tests and interviews as applicable under the Selection Policy. Their past academic records may also be taken into account for this purpose. The admission tests are held at a number of centers in India. It is recommended to refer to the official website of ISI for the latest and most accurate information regarding admissions to the MSQE program.

The M.S.Q.E students of ISI are placed in the industry in India and abroad. Some of the companies who recruited MSQE students in the last few years D.E. Shaw, Genpact, Goldman Sachs, HP Analytics, ICICI Bank, JP Morgan, KPMG, Walmart. Some of our M.S.Q.E. students go abroad for doctoral studies. Over the last few years, our students have received scholarships from Harvard University, MIT, Princeton University, Yale University, University of Pennsylvania, New York University, University of Minnesota, Northwestern University, Caltech, Columbia University, University of Wisconsin, Cornell University, University of Texas, Austin and other US universities for their doctoral studies. 

EduSure has the best and the most structured programme to crack the Masters in Economics Entrance Exams. It’s a 12-year-old Institute with Rank 1 in DSE, JNU, IGIDR, and IIT amongst others consistently in the last few years. Students get a chance to learn from ISI & DSE Alumnus- Samkith Banthia & Mahima Banthia.

To see student testimonials of Edusure and hear about their success: www.youtube.com/edusureschool

To speak to an Edusure student counselor, please fill out this Enquiry Form or call on 8100824600.

For course, enrolment drop in your details on https://edusure.in/contact/ and we shall get back to you! 

Ask a Question: edusureschool@gmail.com, contact@edusure.in

Subscribe: https://www.youtube.com/c/EduSureSchool

We hope this was helpful.

Happy Learning!!

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Crash CourseEco FoundationEco LauncherEco TopperLifestyleMA EconomicsMock TestEdusure
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Master of Science in Quantitative Economics (MSQE) program at the Indian Statistical Institute (ISI)

ISI is one of the top ranked Economics departments in India.This is a two-year advanced programme in Economics(Master of Science in Quantitative Economics) and its applications, with special emphasis on quantitative methods. On successful completion of the MA Eco programme, a student will be able to pursue an academic career in Economics or take up responsible positions in various private and public sector organizations. It is offered simultaneously at Kolkata and Delhi.The entire course is taught in four semesters over two years. Students take about four to five courses in each semester.

The eligibility criteria for admission to the Master of Science in Quantitative Economics (MSQE) program at the Indian Statistical Institute (ISI) for the year 2023 are as follows:

  1. Educational Qualification: Candidates must have a Bachelor’s degree in Economics, Mathematics, Statistics or any other discipline with at least 55% marks (50% for SC/ST/PwD candidates) from a recognized university.
  2. Age Limit: The upper age limit for the general category is 30 years as on July 01 of the admission year. Relaxation of up to 5 years is given for SC/ST/PwD candidates and for women candidates.
  3. Entrance Exam: Candidates must appear for the entrance exam and an interview conducted by ISI for admission to the MSQE program.

It is important to note that meeting the minimum eligibility criteria for ISI (MSQE) does not guarantee admission to the program. The selection process also includes additional criteria such as performance in the entrance exam, interviews, and/or previous academic records. Admission to the academic programmes of the Indian Statistical Institute is based strictly on the merit of the candidates as judged by their performance in appropriate admission tests and interviews as applicable under the Selection Policy. Their past academic records may also be taken into account for this purpose. The admission tests are held at a number of centers in India. It is recommended to refer to the official website of ISI for the latest and most accurate information regarding admissions to the MSQE program.

The M.S.Q.E students of ISI are placed in the industry in India and abroad. Some of the companies who recruited MSQE students in the last few years D.E. Shaw, Genpact, Goldman Sachs, HP Analytics, ICICI Bank, JP Morgan, KPMG, Walmart. Some of our M.S.Q.E. students go abroad for doctoral studies. Over the last few years, our students have received scholarships from Harvard University, MIT, Princeton University, Yale University, University of Pennsylvania, New York University, University of Minnesota, Northwestern University, Caltech, Columbia University, University of Wisconsin, Cornell University, University of Texas, Austin and other US universities for their doctoral studies. 

EduSure has the best and the most structured programme to crack the Masters in Economics Entrance Exams. It’s a 12-year-old Institute with Rank 1 in DSE, JNU, IGIDR, and IIT amongst others consistently in the last few years. Students get a chance to learn from ISI & DSE Alumnus- Samkith Banthia & Mahima Banthia.

To see student testimonials of Edusure and hear about their success: www.youtube.com/edusureschool

To speak to an Edusure student counselor, please fill out this Enquiry Form or call on 8100824600.

For course, enrolment drop in your details on https://edusure.in/contact/ and we shall get back to you! 

Ask a Question: edusureschool@gmail.com, contact@edusure.in

Subscribe: https://www.youtube.com/c/EduSureSchool

We hope this was helpful.

Happy Learning!!

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All about Masters in Economics

What is Master’s in Economics?

A postgraduate programme in Economics was created especially for students to give them knowledge in the fields of banking, finance, commerce, and economic management. The Master of Arts/Science curriculum seeks to give students a solid foundation in economics while also advancing their knowledge of the subject.

Why Masters in Economics?

Globally, there is a significant demand for economists. Professionals in the field of economics can find employment in both public and private institutions. The job possibilities for economists in business, education, and NGOs around the world have improved as a result of ongoing globalization. There are numerous alternatives in terms of work opportunities, including:

  • Banker
  • Consultant
  • Data Analyst 
  • Data Scientist 
  • Economist
  • Equity Analyst 
  • Financial Planner 
  • Lecturer in economics
  • RBI Officer
  • IAS
  • IES

Salaries offered after Master’s in Economics

A Master’s in Economics student is offered high salary packages in comparison to other jobs because of the specialized skill and knowledge they possess and the relative demand for these courses.

A student from a top university of Economics can expect a Job of Rs 15-20 lacs immediately after completing their Master’s. 

Where to pursue a Master’s in Economics from?

Below is the list of some of the top colleges and universities from across the country where you can pursue an M.A in Economics (in alphabetical order) : 

How to pursue Master’s in Economics? 

In order to ensure that students have a practical perspective on the subject in addition to the academic reading required for the course, many private and public universities offering Master’s in Economics in India use the admission exam (an entrance exam) approach. Several of the most well-known Master of Arts in Economics entrance exams in India are listed below: 

  • CUET
  • ISI
  • IIT JAM
  • IIT GATE
  • BHU PET
  • IGIDR
  • SNU
  • Ashoka
  • others

The Master of Economics programme is often a two-year postgraduate programme that is divided optimally into four semesters and typically includes the submission of a thesis. Macroeconomics, microeconomics, public economics, econometrics, international, development economics, and financial economics are among the major subjects/topics covered in the course. The classes also teach you how to upgrade your soft skills and learn various industry-required applications.

Fees for different Economics Courses

Masters’s in Economics is a very reasonable course to pursue and has some of the lowest fees in the country.

Fees of ISI is Rs 0, in fact, it pays a student a monthly stipend for study there. You just have to clear their entrance. Fees of DSE is Rs 14,000 a year. Fees of JNU is Rs 5000 a year. The fee for IGIDR is Rs 80,000. The private colleges of Ashoka and SNU have higher fees but offer very generous scholarships.

Who can pursue an MA in Economics?

Any graduate from any stream can pursue a Master’s in Economics degree. The only prerequisite a few Colleges have is of having Maths in Class 11-12 as Maths forms a very integral part of the Master’s in Economics programme.

How to prepare for M.A. Economics entrance examinations?

The Entrance exam focuses on Key concepts and application questions from the subjects of Mathematics, Statistics, Microeconomics, macroeconomics and the Indian Economy. The syllabus is vast and rigorous preparation is required to secure a seat in the top institute.

EduSure has the best and the most structured programme to crack the Master’s in Economics Entrance Exams. It’s a 12-year-old Institute with Rank 1 in DSE, JNU, IGIDR, and IIT amongst others consistently in the last few years.

To see student testimonials of Edusure and hear about their success: www.youtube.com/edusureschool

To speak to an Edusure student counselor, please fill out this Enquiry Form or call on 8100824600.

For course, enrolment drop in your details on https://edusure.in/contact/ and we shall get back to you! 

Ask a Question: edusureschool@gmail.com
contact@edusure.in

Subscribe: https://www.youtube.com/c/EduSureSchool

We hope this was helpful.

Happy Learning!!

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IIT JAM 2022 Tips and Strategy

What is IIT JAM Exam?

JAM is conducted by IITs, on a rotational basis, to fill seats in Joint MS.-PhD, MSc-PhD dual degree, et al programmes. IISc Bangalore also fills Integrated PhD Degree programmes based on IIT-JAM score. Other than this, NITs also considered the performance in the exam for admission. The exam is held on a single day for six subjects. Earlier, the exam was held for seven subjects but IITs recently dropped biological sciences from the exam.

IIT JAM 2022 Exam is to be held on Feb 13, 2022 in an online mode. IIT JAM will be conducted for seven Papers, namely, Biotechnology, Chemistry, Economics, Geology, Mathematics, Mathematical Statistics, and Physics. Check IIT JAM Syllabus 2022.

IIT JAM 2022 will be conducted online only as a Computer Based Test (CBT) for all Test Papers. As per IIT JAM Exam Pattern, three types of questions will be asked in the paper i.e. MCQ, MSQ, and NAT questions.

IIT JAM 2022 Admit Cards has been released on January 16 in online mode. All the successfully registered candidates who have paid the application fees can download the admit cards by visiting the official website ie. jam.iitr.ac.in. Check IIT JAM 2022 Admit Card.

The authority has also released the subject wise IIT JAM mock tests on the official website. The time direction and type of questions asked in IIT JAM Mock Test are as per the pattern of the paper. Also, all the candidates can access mock tests as no login credentials are required to start the test.

IIT JAM Economics Exam Pattern & Marking Pattern

Understanding the JAM Paper Pattern is essential to prepare for the exam. This will help you know the number of questions asked in the Economics paper and the time allotted to solve these questions.

Below are the details about IIT JAM Economics Paper Pattern-

Duration of Exam3 Hours
Number of Questions60 Questions
Total Marks100 Marks
Total Sections3 Sections – A, B, & C
Type of Questions

Section A – 30 Multiple Choice Questions

Section B – 10 Multiple Select Questions

Section C – 20 Numerical type Questions

Scheme for Marking

There will be negative marking for section A

No negative marking for sections B & C.

Marking Scheme for IIT JAM Economics Exam

Below, we are sharing the IIT JAM Economics marking scheme that will make you aware of the exam paper’s difficulty level.

Section A:

This section is divided into two parts. The first part will contain 10 Multiple Choice Questions of 1 mark. There is a negative marking for every wrong answer (1/3 will be deducted for the 1-mark question).

The remaining 20 Multiple Choice Questions are of 2 marks each, and 2/3 marks will be deducted for these types of questions in case of wrong attempts.

Section B:

This section contains 10 Multiple Select Questions of 2 marks each.

There is no negative marking in this section.

Section C:

It contains 30 Numerical Answer type questions. 1 mark will be awarded for 10 Numerical Answer type questions and 2 marks for other remaining questions.

There will be no negative marking for Section C as well. 

IIT JAM Economics Books 

After knowing about the Exam Pattern and Syllabus, the next step to get good marks has the best books for preparation. Before buying any book, candidates must go through the reviews about the book. The value of good books cannot be overlooked as they provide a student with clear and understandable answers from guiding to solving problems and explaining topics in simple language, and having several problems for practice. Aspirants should only refer to the best IIT JAM Study Material to crack the IIT JAM Economics exam with good marks.

Here at Edusure, we’re working tirelessly to bring you the quality IIT JAM Economics Study Material and complete online learning materials as soon as possible. So, stay tuned with Edusure to get all the updates on the study materials.

Here are some of the most recommended IIT JAM Economics Books for your reference –

  • Micro Economics by Varian, Pindyk and Rubinfield
  • Macro Economics by Dornbusch
  • Indian Economy by Mishra & Puri
  • IIT Mathematics By Khanna and Sharma
  • Fundamentals of Mathematics & statistics by Gupta & Kapoor
  • Basic econometrics by Gujrati

IIT JAM Syllabus for Economics (EN)

IIT JAM Economics Syllabus is also divided into the various sections. Also, the paper or discipline has been added to IIT JAM from this year. Candidates can check the syllabus below:

Microeconomics Syllabus

Names of Chapters
Consumer theoryPublic goods and market failure
Production, costs with perfectly competitive marketsGame theory
General equilibrium and welfareMarket structure

Macroeconomics Syllabus

Names of Chapters
National Income AccountingGrowth Models
Behavioral and Technological Functions Inflation and Unemployment
Business Cycles and Economic ModelsBusiness Cycles and Economic Models (Open Economy)

Statistics for Economics Syllabus

Topics
Probability theory, Sample spaces and events, Axioms of probability and their properties, conditional probability and Bayes’ rule, independent events
Random variables and probability distributions, probability distributions, expected values and functions of random variables, properties of commonly used discrete and continuous distributions
Random sampling, Density and distribution functions for jointly distributed random variables, computing expected values of jointly distributed random variables, covariance and correlation coefficients
Point and interval estimation, estimation of population parameters using methods of moments and maximum likelihood procedures, properties of estimators, confidence intervals
Hypothesis testing, distributions of test statistics, testing hypotheses related to population parame- 32 ters, Type I and Type II errors, the power of a test, tests for comparing parameters from two samples

Indian Economy Syllabus

Names of Chapters
Indian economy before 1950India’s labour market
Planning and Indian developmentPoverty
Indian economy after 1991Inequalities in social development
Banking, finance and macroeconomic policies—

Mathematics for Economics Syllabus

Names of Chapters
Topics
Preliminaries and Functions of one real variableIntegration, differential equations, and difference equations
Single-variable optimizationLinear programming
Linear algebraMultivariate optimization
Functions of several real variables—

Econometrics:

Names of Chapters
Basics and advanced theories
MLRM (Multi-Liner Regressions Models)
Violations of classical assumptions
Important tests and results

We here at Edusure, would suggest to not worry about the entrance test and make a note of these important tips for appearing for this exam.

  • Understand JAM and what it demands from you: It is very important to understand the exam and what is expected out of a candidate via it. To get this, the best sources is the exam pattern and syllabus of JAM 2020. There are six subjects in JAM for Biotechnology (BT), Physics (PH), Mathematical Statistics (MS), Mathematics (MA), Chemistry (CY), Geology (GG) and syllabus for each subject is very different. Candidates should check the syllabus and divide it into strong and weak topics. Since the exam is here, this is the time to make strong subjects stronger.
  • Check the updated Syllabus: Before starting your preparation, check the syllabus and note down the important topics covering a large section of the exam. Study the theoretical part first as it will take less time; then, move on to the numerical part.
  • Do the Complete Planning: Making a perfect plan is the best way to start your preparation? For that, you can create a timetable and follow it for better results. You should remember the important topics and make notes about them. These notes play a crucial role while revising the concepts. Filter out the topics you think you’re weak and plan up the strong approaches to strengthen such topics.
  • Learning less, but learn every day: JAM 2018 AIR 1, Swarnim Shirke, believed that one should keep on learning. As per him, how much you are learning is not important but the fact that you are learning something new every day is the most crucial. His focus was physics but he gave equal importance to learning Math, stats, etc. Soon he understood the application of mathematical and statistical tools in Physics and this helped him making Physics stronger.
  • Time Management: While studying, set a deadline for your topic and complete it within that pre-set time limit. If you cannot do it, then make honest efforts to increase your speed which will help you during the exam. Take breaks or short intervals in between your study hours. Another tip for a good preparation strategy is to study the difficult topics during the early hours of the day. Make sure you have got enough sleep at night for better concentration.
  • Analyze and Revise: While studying, you must analyze your weak and strong syllabus areas and work on them accordingly. Don’t forget to revise daily for at least 30–45 mins. Also, go through all the topics at least once a day. It will help you remember a lot of important concepts during exams. Note down all the formulas one by one and practice with the topics daily. Practice all the numerical part especially from micro and macroeconomics, for the mathematical part in Economics like variables and equations, try to practice all the question section wise with the formula regularly
  • Practice using Virtual Calculator: Being an IIT JAM aspirant, you must familiarize yourself with the virtual calculator. It is important to know the format of the calculator as physical calculators will not be allowed in the exam. So, it is advised that candidates practice with the IIT JAM Virtual Calculator provided for the same.
  • Give Mock Tests: Taking mock tests will enable you to have a time management strategy and prioritize the topics to be dealt with first. You should join online test series and take mock tests daily. It will give you an idea about the type of questions asked, help you analyze your level of preparation, and increase speed and accuracy. There is no better source to prepare for an examination, other than previous year question paper and mock test. So, do make sure to solve as many questions paper and mock test as one can.
  • Do not hesitate to seek help: when time is less, seeking help from an expert saves time and brings in the opportunity to learn something new. So, when stuck, do not hesitate to approach the teacher or expert.
  • Time management rule: We here at Edusure have devised a simple yet effective rule to manage your time for the time completion of your paper, it’s known as the EMD Rule or the Easy, Medium and Difficult Rule, which is applied by:
  1. Do not miss out on easy questions. 
  2. Spend 15 minutes analysing paper and sectionally divide the paper by marking the easy medium and difficult questions. 
  3. Start from easy questions and work towards the difficult ones. 
  4. Allocate 2.5 hours to solve the paper. 
  5. Take last 15 minutes to revise the paper
  • The ultimate tip: Breathe to relax. It’s just an exam!

Do take a look at a video on our Youtube channel on How to prepare for IIT JAM 2022 – Exam strategy, tips, time management, tricks, etc. 

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