Nikhil

Still confused between Masters in business economics i.e; M.B.E., M.B.A. in business economics, and Masters in Applied Economics..!

I want to work in corporate sector. which among these will help me in getting good career opportunity and scope in future after B.A. in Eco. hons. :- Masters in business economics i.e; M.B.E., M.B.A. in business economics, or Masters in Applied Economics? I don't want to go in teaching line.

by Nikhil
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3 answers

RE: Still confused between Masters in business economics i.e; M.B.E., M.B.A. in business economics, and Masters in Applied Economics..!

Gomathi Venkat
Gomathi Venkat
Verified Career Expert
Managing Director at GV Counseling Group
  • Bengaluru

Dear aspirant


Thank you for approaching counsellors at meracareerguide. It is interesting to see that you have chosen Economics as your subject and want a corporate career in Economics. I can definitely guide you through your query today.

What subject will lead to a corporate career in Economics? You are confused between three subjects. MBE/ MBA Business economics and Masters in applied economics. The subject you want to study actually depends on when or after how many years you want to study. You have clearly stated that you dont want to go in teaching line and are only interested for corporate jobs. This straight away tells that you dont have to study MSc/ MA Applied economics. Only students who aspire for a teaching line will take the MSc/ MA route because this is the only qualification that is acceptable when you are applying for a PhD Economics in future. So you can straight away discard MSc/ MA Applied Economics from your list of options. So you have two options left in hand now.

Lets talk about the MBA Business Economics course. This course will be ideally suited for someone who has at least some years of work experience. Most of the MBA colleges itself demand work experience as part of the application system itself and very few accept students without work experience. The problem is that once you complete your MBA and wait for being selected in jobs, your profile wont sound good enough compared to the MBA graduates who already gained some work experience. It is always said that recruiters prefer recruiting MBA grads with some amount of work experience established already. As you are going to study the masters course soon after you complete your bachelors degree, then you may not get some work experience and therefore studying an MBA is not advisable as an immediate masters study measure.

The last option in your hand is the MBE. Master of Business economics. This is the ideal subject for you and your desire for a corporate career. This subject doesnt require work experience for applying to study and as well it is okay even if you dont have work experience post completion of MBE degree. Companies will be happy to recruit you as a fresher itself and your pay will also be reasonably high. MBE graduates usually draw a minimum of 4 lakh initially. After some 5 or 8 years of work experience you can consider studying MBA Business economics and this professional management degree will add more value to your profile at that time.

Finally i would advice you to choose MBE as your degree for a good career in corporate sector. Try studying at a reputable university like the University of Delhi where you can also stand high with placement opportunities. All the best.

RE: Still confused between Masters in business economics i.e; M.B.E., M.B.A. in business economics, and Masters in Applied Economics..!

Dr Aparna
Dr Aparna
Verified Career Expert
PhD Organizational Psychology
  • Hosur


Hello


A career clubbed with economics and business is definitely an excellent choice for pursuing corporate careers. Among the three choices that you have given, I shall explain about each of these degrees one by one below.

First let me explain about Masters in Business Economics MBE degree. This degree offers in-depth knowledge on Economics technicalities in a business environment. As a part of the degree, you will study Micro and macro economic analysis, applied business statistics, project appraisal, organisational behaviour, legal environment and business, industrial economics, marketing environment, international trade, econometrics, financial market and services, energy economics, agricultural economics, trade economics, eco-system and ecological economics, labour economics, infrastructure economics, world trading system and global finance. This degree will give you core Economics careers like an Economist or a Senior Economist in specific sector like trade, agriculture, health, education etc. This degree is very much suitable for students who have less than two years of work experience and also for students who would like to aim for Corporate Economist careers. If you have just completed a Bachelors degree and are looking for an in-depth core Economics subject, and also with a less than two years of work experience, then this is the best choice for you.

MBA in Business Economics is a professional business degree with a little Economics element. This degree will offer in-depth theories on application of Economics at Business environment. Ideally the syllabus will be distributed equally between Economics and business subjects as 50-50%. This degree is best suited for someone who has good number of work experience, preferably more than five years of experience. In fact most people can also do an MBA Business economics degree after a MBE degree. MBA Business economics is treated as a professional degree more than an MBE degree is actually considered.

The last subject you said is the MSc Applied Economics. This does offer in-depth theoretical knowledge only in Economics and has no relations to Business. Completing this degree graduates can also work in corporates as an Economist but however they might at some point often need to do a professional degree like the MBA Business economics to lead in their career. Alternatively, students often choose to do a PhD Economics after an MSc Economics, as this route often leads to a teaching/ professor career. As you aren't interested in teaching, you can skip this option.

Finally, I would advice you to take the MBE degree if you are a fresh graduate, with less than two years work experience and want to study only Economics in-depth. Alternatively, if you have already gained more than five years of experience, choosing to studying an MBA in Business economics is ideal. Hope this helps. Good luck.

RE: Still confused between Masters in business economics i.e; M.B.E., M.B.A. in business economics, and Masters in Applied Economics..!

Dr. Anand Wadadekar, PhD
Dr. Anand Wadadekar, PhD

Dear Aspirant,

If you want to enter into corporate, then you have to decide whether you wish to enter into companies like financial companies, research companies etc. or you wish to enter into the banking industry.

If you wish to go into banking, then Masters in Business Economics (MBE) is suited.

If you wish to go into the research industry, then Masters in Applied Economics is suited.

If you wish to go into financial companies, insurance, stock market companies, investment management companies, then MBE or MBA Finance is suited.

MBA in Business Economics is a sheer nonsense degree.

Best wishes

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RE: Still confused between Masters in business economics i.e; M.B.E., M.B.A. in business economics, and Masters in Applied Economics..!

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