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MBA Business Economics: Course, Admission, Eligibility, Syllabus, Colleges, Scope, Jobs

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MBA Business Economics: Course, Admission, Eligibility, Syllabus, Colleges, Scope, Jobs

Edited By nikhil.verma | Updated on Nov 19, 2023 08:01 PM IST

What is an MBA in Business Economics?

An MBA in Business Economics is a specialised course of two years offered by many business schools and universities worldwide. The MBA Business Economics programme provides students with a profound understanding of economic concepts and their practical applications in the business world. The Business Economics curriculum at the postgraduate level focuses primarily on accounting, marketing, data analysis, international economics, and business finance. The curriculum also includes training in leadership and other soft skills, enabling students to pursue careers in corporate strategy, financial analysis, market research, and consulting.

The MBA in Business Economics is offered by institutions in various modes, including online, part-time, full-time, and distance learning, aimed at both regular students and working professionals. This programme integrates business administration principles with a significant emphasis on economics, allowing candidates the opportunity to specialise in a particular domain during their final year of study. This article will provide comprehensive information on the scope, benefits, tuition fees, career prospects, and MBA Business Economics salary.

Highlights - MBA Business Economics

Particulars

Values

Degree Name

MBA Business Economics

Degree Type

Postgraduate

Degree Duration

2 years

Entrance Exams

CAT, CMAT, GMAT, MAT, NMAT

Eligibility Criteria

Bachelor’s degree

Admission process

Entrance test

Fees for the entire duration

Rs. 24,000 to Rs. 2 lakhs

Average Salary

Rs. 6.56 LPA

Job profiles

Economist, Financial Analyst, Management Consultant, Business Development Manager, Market Research Analyst

Top recruiters

HCL, Cognizant, HSBC, ICICI Bank, EY, Infosys

MBA Business Economics Eligibility Criteria

The MBA in Business Economics eligibility criteria are determined by the governing body of each institution and can vary from one college to another. Most government colleges have similar educational prerequisites, which typically include holding a bachelor's degree in any discipline with minimum marks. Some colleges may even specify the required degree discipline and minimum passing marks.

Therefore, it is advisable to thoroughly review the specific MBA Business Economics eligibility criteria of the institution before applying for admission. Failing to meet these eligibility criteria will lead to the rejection of candidates' applications. The following are common MBA Business Economics eligibility criteria considered by most business schools in India:

  • Prospective students should possess a bachelor's degree from an accredited university in any discipline.

  • They need to achieve a minimum academic qualification score of 50 per cent in their degree.

  • They must pass the specified entrance exam.

  • Applicants who are part of reserved categories will receive a five per cent relaxation in the minimum required marks.

Popular Management Colleges in India

MBA Business Economics Admission Procedure

The MBA Business Economics admission procedure can be found on the official website of each college offering these courses. The admission process for MBA Business Economics courses varies across institutions, whether private or public. In public colleges, MBA Business Economics admissions are slightly competitive due to the high number of applications received and the limited number of available seats. The relatively low fees and strong academic records of these colleges are factors that encourage candidates to apply for MBA Business Economics courses at public colleges.

Public colleges typically admit students based on their performance in entrance examinations. However, candidates may not need to appear for an entrance exam at private colleges. The MBA in Business Economics admission procedure also differs for reserved category students and international students. In the list below, we have provided the MBA in Business Economics admission procedure followed by top management colleges in India.

  • Applicants must fulfil the eligibility criteria, as failing to do so will result in the non-consideration of their applications.

  • They must successfully pass specific entrance exams such as the CAT, CMAT, GMAT, MAT, NMAT, or other state and university-level exams.

  • They can complete the online counselling process and provide their branch preferences only if they clear the cutoff.

  • While a personal interview might be part of the selection procedure, it is not always mandatory.

  • Candidates are selected based on their entrance exam scorecard and their performance in personal interviews or group discussions.

  • Applicants are expected to provide valid documentation and fulfil the course fee requirement.

Top MBA Business Economics Entrance Exams

Various entrance examinations are conducted annually by different organisations at the state, university, and national levels. These MBA Business Economics entrance exams serve as gateways to secure admission to top business schools in India. Below, we have listed the entrance examinations in detail.

CAT: The Common Admission Test (CAT) exam is a computer-based test and is regarded as the top MBA Business Economics entrance examination. It provides access to MBA programmes at prestigious institutions like the Indian Institutes of Management (IIMs) and other prominent business schools across India. Annually, the CAT receives over two lakh applications, making it a highly competitive examination.


MAT: MAT, the Management Aptitude Test, is a nationally administered entrance examination, and its results are recognised and accepted by many management institutions and business schools in India. This includes institutions within the country as well as some international ones.


CMAT: The Common Management Admission Test (CMAT) is an examination administered by the National Testing Agency (NTA), and it has a duration of three hours. This test is conducted on an annual basis, typically in January.


GMAT: The GMAT, which stands for Graduate Management Admission Test, is a globally acknowledged and highly esteemed examination that provides access to a wide variety of MBA programmes worldwide. The GMAC (Graduate Management Admission Council) is responsible for administering this test.

MBA Business Economics Cutoff for Top Colleges

The MBA Business Economics cutoff is annually published on the official websites of the respective colleges that offer these courses. Many colleges consider the cutoff scores of exams such as CAT, CMAT, GMAT, MAT, and NMAT for MBA Business Economics admissions. Government colleges typically release cutoff scores by category, while the reservation criteria do not affect the MBA Business Economics cutoffs of private colleges. The cutoff scores are not fixed and can vary depending on the level of the exam, the total number of applicants, and the available seat intake.

MBA Business Economics Skills

To succeed in the MBA in Business Economics and acquire a thorough understanding of the covered subjects and concepts, candidates can benefit from having certain skill sets. While these skills are not mandatory, they can significantly enhance candidates' experiences not only during their studies but also in their prospective careers. In the table below, there are some valuable MBA in Business Economics skills candidates can possess:

Financial Acumen

Economic Analysis

Analytical Skills

Effective Communication Skills

Business Planning

Leadership

Legal and Regulatory Knowledge

Market Research

MBA Business Economics Syllabus/Subjects

With a combination of theoretical and practical studies, complemented by internships and specialisations, the MBA in Business Economics course offers in-depth knowledge of finance, business, and economics. The MBA in Business Economics curriculum is typically structured into four semesters, and while the overall structure remains consistent across colleges, the specific subjects taught can vary. In the table below, we have listed the MBA in Business Economics subjects taught at Delhi University.

Semester 1

Micro Economic Analysis

Accounting for Business

Marketing Management

Quantitative Techniques in Management

Statistics and Data Analysis

Project Appraisal and New Venture Analysis

Business and Law

-

Semester 2

Macroeconomic Analysis & Policy

International Economics

Environmental Economics

Firms, Markets and Public Policy

Basic Econometrics

Business Finance

Leadership and Organization

-

Semester 3

Business, Government & Society

International Financial System

Elective I

Elective II

Elective III

Elective IV

Semester 4

Contemporary Indian economy

Strategic Management

Elective I

Elective II

Elective III

Elective IV

MBA Business Economics Fees

The MBA Business Economics fees depend on the college candidates choose to enrol in. Some colleges have the autonomy to set their fee structure, while others follow the guidelines of affiliations and state or central government authorities. Public colleges generally have lower MBA Business Economics fees compared to private colleges, but it is worth noting that admission to these colleges can be more competitive.

Facilities provided by the college, academic excellence, and placement records are other factors that influence the MBA Business Economics fee structure. In public colleges, there may also be variations in fees based on gender and reserved categories. The average MBA Business Economics fees range between Rs. 24,000 to Rs. 2 lakhs.

MBA Business Economics Scope

The MBA in Business Economics scope is not limited to a single industry or sector. It provides a versatile skill set that is applicable across various fields, making graduates well-prepared to succeed in both the public and private sectors. The demand for professionals with expertise in business economics is high and they can work in the financial services, management consulting, healthcare, retail, and manufacturing industries. If candidates are more inclined towards working on innovative ideas, they can become entrepreneurs.

Career Options after MBA Business Economics

MBA Business Economics is a promising field for career growth because of its value in the market. Graduates with an MBA in Business Economics have a variety of career options available to them. Here are some common MBA Business Economics career paths and job roles that graduates can pursue:

Economists: Economists are professionals who study and analyse economic data and trends to provide insights and guidance on various economic issues. They often work in government agencies, research institutions, or private organisations, helping to inform policy decisions and solve economic problems.

Financial Analysts: Financial analysts assess financial data and study market trends. They make investment recommendations for individuals or organisations.

Management Consultants: Management consultants provide expert advice to organisations to improve their overall performance, efficiency, and profitability. They assess an organisation's challenges and opportunities, develop strategies, and offer solutions.

Business Development Managers: Business development managers analyse market trends, competition, and customer needs to create and implement strategies that drive business growth. Their role often involves sales, marketing, and relationship-building to increase revenue and achieve long-term success.

Market Research Analysts: Market research analysts are experts who collect and analyse data to assess market trends, consumer behaviour, and competitive landscapes. They provide businesses with valuable insights to make informed decisions about product development, marketing strategies, and market positioning.

Top Recruiters

JP Morgan

Cognizant

HCL

Deloitte

ICICI Bank

HSBC

EY

Infosys

Benefits of Studying MBA Business Economics

MBA in Business Economics offers several benefits for individuals seeking to advance their careers in business and economics. MBA Business Economics graduates can work in a variety of industries and roles, as their skills are applicable across different sectors. The degree opens doors to a wide range of career options, including roles in finance, consulting, and corporate strategy. MBA Business Economics benefits individuals with the knowledge and skills needed to start and manage their own businesses.

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MBA Business Economics Salary

There are several factors, including the work experience of the candidate, job position, employer, and location that decide MBA Business Economics salary. Candidates who get placed through campus placements at top business schools in India tend to receive higher salaries, as these institutions attract top recruiters annually. Furthermore, international companies offer more competitive salaries compared to positions within India. In the table below, we present average MBA Business Economics salaries for various job roles.

Job Roles

Average Salary

Business Development Manager

Rs. 6.56 LPA

Economist

Rs. 7.40 LPA

Financial Analyst

Rs. 4.89 LPA

Management Consultant

Rs. 12.79 LPA

Market Research Analyst

Rs. 4.01 LPA

List of Top MBA Colleges in India Offering Business Economics Specialisation

There are many government as well as private colleges that offer an MBA in Business Economics in various modes. In the table below, we have compiled a list of the top MBA Business Economics colleges based on their rankings, academic and placement records, as well as the facilities provided.

Colleges

Fees

DU Delhi

Rs. 24,800

VBSPU Jaunpur

Rs. 1.02 lakhs

Mewar University, Chittorgarh

Rs. 90,000

Jiwaji University

-

RDVV Jabalpur

Rs. 40,000

GKV Haridwar

Rs. 1.21 lakhs

MDU Rohtak

Rs. 46,150

CSJMU Kanpur

-

DAVV, Indore

Rs. 1.08 lakhs

Maharshi Dayanand Saraswati University, Ajmer

Rs. 75,300

Top Government MBA Colleges in Business Economics in India

Among the top MBA Business Economics colleges, government institutions receive high rankings from the National Institutional Ranking Framework (NIRF) and other accredited bodies. In the table below, we have presented the top government MBA Business Economics colleges, along with their respective fee structures.

Colleges

Fees

DU Delhi

Rs. 24,800

DAVV, Indore

Rs. 1.08 lakhs

VBSPU Jaunpur

Rs. 1.02 lakhs

Jiwaji University

-

Maharshi Dayanand Saraswati University, Ajmer

Rs. 75,300

CSJMU Kanpur

-

RDVV Jabalpur

Rs. 40,000

MDU Rohtak

Rs. 46,150

Frequently Asked Question (FAQs)

1. What is an MBA in Business Economics?

MBA Business Economics is a specialised two-year postgraduate programme that provides students with a deep understanding of subjects like accounting, marketing, data analysis, international economics, and business finance.

2. What are the eligibility criteria for an MBA Business Economics?

Candidates should have a bachelor's degree in any discipline from a recognised university with a minimum of 50 per cent marks. There may be a relaxation in marks for candidates from reserved categories.

3. What is the admission process for an MBA Business Economics?

The admission process usually includes clearing specific entrance exams like the CAT, CMAT, GMAT, MAT, or NMAT. Candidates who meet the eligibility criteria and score well in these exams can proceed to the counselling process.

4. What are the top entrance exams for MBA Business Economics?

Some of the top entrance exams include CAT (Common Admission Test), CMAT (Common Management Admission Test), GMAT (Graduate Management Admission Test), MAT (Management Aptitude Test), and NMAT (Narsee Monjee Management Aptitude Test).

5. What is the average MBA Business Economics salary?

The average salary after completing an MBA in Business Economics can vary depending on factors like experience, job role, company, and location. On average, it ranges from Rs. 4.01 lakhs to Rs. 12.79 lakhs per annum.

6. What are the job profiles for MBA Business Economics graduates?

Graduates can pursue careers as Economists, Financial Analysts, Management Consultants, Business Development Managers, and Market Research Analysts, among others.

7. What are the benefits of studying MBA Business Economics?

The benefits include acquiring economic expertise, versatile career opportunities, strong analytical and financial skills, and the ability to make data-driven decisions in various industries.

8. What is the scope of MBA Business Economics?

MBA in Business Economics offers a wide scope of career opportunities in industries like financial services, consulting, healthcare, retail, and manufacturing. Graduates can also explore entrepreneurship or pursue higher education.

9. Is the MBA in Business Economics available in different modes?

Yes, MBA Business Economics courses are available in various modes, including full-time, part-time, online, and distance learning, designed for both regular students and working professionals.

10. What is the MBA Business Economics cutoff for top colleges?

MBA Business Economics cutoff scores can vary by college and are often based on the results of entrance exams like the CAT, CMAT, GMAT, MAT, and NMAT. These scores can vary based on the total number of applicants and available seats.

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Publisher

For publishing books, newspapers, magazines and digital material, editorial and commercial strategies are set by publishers. Individuals in publishing career paths make choices about the markets their businesses will reach and the type of content that their audience will be served. Individuals in book publisher careers collaborate with editorial staff, designers, authors, and freelance contributors who develop and manage the creation of content.

3 Jobs Available
Journalist

Careers in journalism are filled with excitement as well as responsibilities. One cannot afford to miss out on the details. As it is the small details that provide insights into a story. Depending on those insights a journalist goes about writing a news article. A journalism career can be stressful at times but if you are someone who is passionate about it then it is the right choice for you. If you want to know more about the media field and journalist career then continue reading this article.

3 Jobs Available
Editor

Individuals in the editor career path is an unsung hero of the news industry who polishes the language of the news stories provided by stringers, reporters, copywriters and content writers and also news agencies. Individuals who opt for a career as an editor make it more persuasive, concise and clear for readers. In this article, we will discuss the details of the editor's career path such as how to become an editor in India, editor salary in India and editor skills and qualities.

3 Jobs Available
Reporter

Individuals who opt for a career as a reporter may often be at work on national holidays and festivities. He or she pitches various story ideas and covers news stories in risky situations. Students can pursue a BMC (Bachelor of Mass Communication), B.M.M. (Bachelor of Mass Media), or MAJMC (MA in Journalism and Mass Communication) to become a reporter. While we sit at home reporters travel to locations to collect information that carries a news value.  

2 Jobs Available
Corporate Executive

Are you searching for a Corporate Executive job description? A Corporate Executive role comes with administrative duties. He or she provides support to the leadership of the organisation. A Corporate Executive fulfils the business purpose and ensures its financial stability. In this article, we are going to discuss how to become corporate executive.

2 Jobs Available
Multimedia Specialist

A multimedia specialist is a media professional who creates, audio, videos, graphic image files, computer animations for multimedia applications. He or she is responsible for planning, producing, and maintaining websites and applications. 

2 Jobs Available
Welding Engineer

Welding Engineer Job Description: A Welding Engineer work involves managing welding projects and supervising welding teams. He or she is responsible for reviewing welding procedures, processes and documentation. A career as Welding Engineer involves conducting failure analyses and causes on welding issues. 

5 Jobs Available
QA Manager
4 Jobs Available
Quality Controller

A quality controller plays a crucial role in an organisation. He or she is responsible for performing quality checks on manufactured products. He or she identifies the defects in a product and rejects the product. 

A quality controller records detailed information about products with defects and sends it to the supervisor or plant manager to take necessary actions to improve the production process.

3 Jobs Available
Production Manager
3 Jobs Available
Product Manager

A Product Manager is a professional responsible for product planning and marketing. He or she manages the product throughout the Product Life Cycle, gathering and prioritising the product. A product manager job description includes defining the product vision and working closely with team members of other departments to deliver winning products.  

3 Jobs Available
QA Lead

A QA Lead is in charge of the QA Team. The role of QA Lead comes with the responsibility of assessing services and products in order to determine that he or she meets the quality standards. He or she develops, implements and manages test plans. 

2 Jobs Available
Structural Engineer

A Structural Engineer designs buildings, bridges, and other related structures. He or she analyzes the structures and makes sure the structures are strong enough to be used by the people. A career as a Structural Engineer requires working in the construction process. It comes under the civil engineering discipline. A Structure Engineer creates structural models with the help of computer-aided design software. 

2 Jobs Available
Process Development Engineer

The Process Development Engineers design, implement, manufacture, mine, and other production systems using technical knowledge and expertise in the industry. They use computer modeling software to test technologies and machinery. An individual who is opting career as Process Development Engineer is responsible for developing cost-effective and efficient processes. They also monitor the production process and ensure it functions smoothly and efficiently.

2 Jobs Available
QA Manager
4 Jobs Available
AWS Solution Architect

An AWS Solution Architect is someone who specializes in developing and implementing cloud computing systems. He or she has a good understanding of the various aspects of cloud computing and can confidently deploy and manage their systems. He or she troubleshoots the issues and evaluates the risk from the third party. 

4 Jobs Available
Azure Administrator

An Azure Administrator is a professional responsible for implementing, monitoring, and maintaining Azure Solutions. He or she manages cloud infrastructure service instances and various cloud servers as well as sets up public and private cloud systems. 

4 Jobs Available
Computer Programmer

Careers in computer programming primarily refer to the systematic act of writing code and moreover include wider computer science areas. The word 'programmer' or 'coder' has entered into practice with the growing number of newly self-taught tech enthusiasts. Computer programming careers involve the use of designs created by software developers and engineers and transforming them into commands that can be implemented by computers. These commands result in regular usage of social media sites, word-processing applications and browsers.

3 Jobs Available
Product Manager

A Product Manager is a professional responsible for product planning and marketing. He or she manages the product throughout the Product Life Cycle, gathering and prioritising the product. A product manager job description includes defining the product vision and working closely with team members of other departments to deliver winning products.  

3 Jobs Available
Information Security Manager

Individuals in the information security manager career path involves in overseeing and controlling all aspects of computer security. The IT security manager job description includes planning and carrying out security measures to protect the business data and information from corruption, theft, unauthorised access, and deliberate attack 

3 Jobs Available
ITSM Manager
3 Jobs Available
Automation Test Engineer

An Automation Test Engineer job involves executing automated test scripts. He or she identifies the project’s problems and troubleshoots them. The role involves documenting the defect using management tools. He or she works with the application team in order to resolve any issues arising during the testing process. 

2 Jobs Available
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