New Delhi: "Economic sciences" courses that are open only to science students seem the latest rage in some IITs, vying in popularity with the traditional engineering programmes thanks to the lucrative placements they attract.
IIT Bombay launched the course this year, 12 years after its sister institutes in Kanpur and Kharagpur introduced the subject in 2005. The Indian Institute of Science Education and Research, Bhopal, has decided to teach the course from next year.
Like the BTech courses, this one too admits Class XII-pass science students who are able to crack the Joint Entrance Examination Advanced.
Praveen Kulshreshtha, economic sciences teacher at IIT Kanpur, said science students found it easier to learn the mathematical techniques necessary for certain areas of economics.
Over the first year and parts of the second, the economic sciences students study physics, chemistry, mathematics and some basic engineering like the other IIT students. They then switch to studying economics, including econometrics, efficiency and productivity analysis, international trade and financial economics.
"These students are well trained in all the branches of science and basic engineering. Multi-national banks, financial analytical companies and software firms recruit them with very good salaries," Kulshreshtha said.
During this year's placements at IIT Kanpur, he said, the average annual pay package offered to economic sciences graduates was Rs 10 lakh, second only to the Rs 12 lakh package attracted by BTechs in computer science.
Kharagpur offers a five-year Integrated MSc course in economic sciences while Kanpur switched to a five-year Bachelor of Science and Master of Science (BS-MS) programme in 2012, which allows students an option to leave with a BS degree after four years.
IISER Bhopal director Vinod Kumar Singh told The Telegraph his institute would follow the BS-MS model, offering 60 seats, 20 more than Kanpur.
General universities teach three-year undergraduate economic courses that tend to be dominated by humanities students.
