The Indira Gandhi Institute of Development Research is one of the foremost destinations in the country for policy-oriented research in Economics. The esteemed institute is located in Goregaon (East), in the suburbs of the financial capital of India, Mumbai. IGIDR offers MSc in Economics and MPhil/PhD in Development Studies. All the programmes are aimed at training students and scholars in the use of tools essential for quality research in Economics, especially research that focusses on policy issues. The Institute is established and funded by the Reserve Bank of India.
The selection process to IGIDR consists of an online test followed by an interview. The online test for admission to MSc Economics tests one’s proficiency in English language, analytical abilities (Quantitative Aptitude) and reasoning abilities. The portion on Quantitative Aptitude consists of Mathematics till the Class 12 level. Besides, one also has to choose between Economics and Advanced Mathematics. A candidate can choose any one (and only one) from among the two. Usually, graduates in Economics choose the former and the latter is chosen by candidates from other fields (Mathematics, Physics, and Statistics etc.). The online test for MPhil/PhD in Development Studies is the same except for the portion testing Economics/Advanced Mathematics. That makes it quite similar to an MBA entrance test. But the level is still high. The candidates have to clear the cut-off marks for each section as well as for the overall score. No candidate can appear for both the programmes. The tests are conducted separately and simultaneously.
A summary of the above is as follows:
Online Test for MSc in Economics – Sections (Time Allotted: 3 hours)[ii]
Quantitative Aptitude
English Language
Reasoning Ability
Economics/Advanced Mathematics
Online Test for MPhil/PhD in Development Studies – Sections (Time Allotted: 3 Hours)[iii]
Quantitative Aptitude
English Language
Reasoning Ability
The preparation strategy for the online test is important. For both MSc and M.Phil./PhD aspirants, it is important to have a good grasp on Mathematics till the intermediate level. One may go through the following books:
Mathematics for Economic Analysis, Knut Sydsaetor and Peter J.Hammond, Pearson
Fundamental Methods of Mathematical Economics, 3rd ed., A.C. Chiang, McGraw-Hill, 1984
Mathematics for Economists, Carl P. Simon and Lawrence Blume, Viva-Norton Student Edition
Note that the candidates’ knowledge of Statistical and Econometric Methods will also be tested. One may go through:
A First Course in Probability, Sheldon Ross, Prentice Hall
Mathematical Statistics, John E. Freund, Prentice Hall
Applied Statistics for Economists 4thedition,P.H. Karmel and M. Polasek, Pitman
For Econometrics, one may follow whatever book they are comfortable with. However, Karmel and Polasek (mentioned above) can also be referred to for topics in Econometrics.
For candidates aspiring for admission to MSc in Economics and choosing Economics in the optional section of the online test, it is important to have a good hold over Economics taught in undergraduate Economics courses. One may take BA (Hons.) Economics offered by the University of Delhi as a benchmark. The candidate should be thorough with concepts of Microeconomics and Macroeconomics. For this, one is required to have good Mathematical abilities for which the books prescribed above will do.
For Microeconomics, one may go through:
Intermediate Microeconomics, Hal Varian, Viva Norton
Microeconomic Theory, Walter Nicholson & Christopher Snyder, Thomson South-Western http://www.dphu.org/uploads/attachements/books/books_5973_0.pdf
Microeconomics, Bernheim & Whinston, Mc-Graw Hill/Irwin Series in Economics
Modern Microeconomics, A.Koutsiyannis, Macmillan Press Ltd (This book contains many topics not given in the above three. But it is recommended that Varian is read first.)
For Macroeconomics, one may go through:
Macroeconomics–Theories and Policies10th Edition, Richard T. Froyen, Pearson
Macroeconomics 12th Edition,Dornbusch, Fischer, & Startz, Mc-Graw Hill/Irwin Series in Economics
Macroeconomics 7th Edition, N. Gregory Mankiw, Worth Publishers
International Economics9th edition,Paul R. Krugman, Maurice Obstfeld & Marc MelitzPearson Education Asia
Candidates choosing Advanced Mathematics in the optional section may follow the books and readings prescribed for BSc Mathematics.
After having discussed the online test, we now come to the interview stage. The interviews for MSc and MPhil/PhD take place separately. For MSc, candidates with Economics background should be thorough with their undergraduate syllabus. The interview panel tests the basic concepts and understanding of key topics in Economics. One can expect the interview to be challenging. Candidates who do not have Economics background should know Mathematical concepts very well. They should also be ready for a grilling interview.
At the time of filling forms, MPhil/PhD aspirants are asked to mention their areas of interest. One can prepare a research proposal or can prepare a broad area of interest in Economics (e.g., Game Theory).The candidate will be tested on what has been mentioned. Also prepare Mathematics well. However, the interview panel may also insist on asking questions from Econometrics, irrespective of your area of interest. Candidates with a non-Economics background will be tested mostly on their knowledge and understanding of Mathematics. But it is expected that they have some knowledge of Economics. Here also, the interview is challenging. So one has to be thorough with their chosen field. Present-mindedness is of great importance.
This is all one needs to know about getting into IGIDR. It is hoped that this information will be of value to the aspirants.
Wishing everyone the best in their endeavors.
Author: Vibhor Verma has done MA in Economics from the Center for Economic Studies and Planning, Jawaharlal Nehru University. He has been selected for the M.Phil./PhD Programme 2017 at IGIDR, Mumbai.
[ii] The pattern could be changed by the institute. But this is the usual pattern.
[iii] The pattern could be changed by the institute. But this is the usual pattern.
