ISI MSQE stands for Master of Science in Quantitative Economics, a two-year postgraduate
programme offered by the Indian Statistical Institute (ISI) at its Kolkata and Delhi campuses. On
successful completion of the programme, a student will be able to pursue an academic career in
Economics or take up responsible positions in various private and public sector organisations.
In order to be eligible for admission to this programme, an applicant must have a Bachelor’s
degree of three or more years duration, in any discipline.
Each applicant takes two written tests: PEA & PEB. Both papers are mandatory, and
performance in both PEA and PEB is considered for shortlisting (and no interview stage).
30 Multiple Choice Questions (MCQs)
Conceptual and analytical
120 Minutes
| Response Type | Marks Awarded |
|---|---|
| Correct Answer | +4 marks |
| Unattempted Question | +1 mark |
| Incorrect Answer | 0 mark |
The PEB is a descriptive examination designed to test a candidate’s mathematical rigour, problem-solving ability, and clarity of derivations.
| Components | Details |
|---|---|
| Number of Questions | 5-8 Descriptive Questions |
| Nature of Questions | Analytical and Problem-Solving |
| Exam Type | Descriptive (Written Solutions) |
| Duration | 120 Minutes |
The MSQE programme at Indian Statistical Institute does not include an interview stage.
Final selection is based entirely on performance in the written tests (PEA & PEB), through a
composite score.
The Indian Statistical Institute does not release official cut-off marks for the MSQE programme. Shortlisting and final selection are carried out through a stage-wise process, where qualifying scores are determined internally each year based on performance in the written examinations (PEA & PEB), number of applicants, and seat availability. As a result, cut-offs may vary across admission cycles and categories.
Applicants are advised to aim for strong performance in both PEA and PEB, as final selection isbased on a composite score from the written tests rather than on any fixed cut-off.
Indian Statistical Institute offers a monthly stipend to meritorious students enrolled in its academic programmes.
For the MSQE (M.S. in Quantitative Economics) programme, selected students are eligible for a stipend of ₹8,000 per month, subject to the Institute’s rules and
regulations.
| Campus | No of Seats |
|---|---|
| Delhi | 35 |
| Kolkata | 21 |
| Total | 56 |
| Categoty | Seats |
|---|---|
| GEN | 21 |
| OBC-NCL | 15 |
| SC | 8 |
| ST | 4 |
| EWS | 5 |
| PWD | 3 |
Algebra: Binomial Theorem, AP, GP, Series, Permutations and combinations, Theory of polynomial equations.
Linear Algebra: Vector spaces, Linear transformations, Matrix representations and elementary operations, Systems of linear equations, Eigenvalues.
Calculus: Functions, Limits, Continuity, Differentiation of functions of one or more variables,Unconstrained Optimization, Definite and Indefinite Integrals, Integration by parts and integration by substitution, Convexity and quasi-convexity, Constrained optimization of functions of not more than two variables, Implicit function theorem, Homogeneous and homothetic functions.
Elementary probability theory, Measures of central tendency, Dispersion, Correlation and regression, Probability distributions,
Standard distributions: Binomial and Normal.
Theory of consumer behaviour, Theory of production, Market structure under perfect competition, Monopoly, Price discrimination, Duopoly with Cournot and Bertrand competition, Elementary strategic interaction, Public goods, Externalities, General equilibrium, Welfare economics.
National income accounting, Simple Keynesian Model of income determination and the multiplier, IS-LM Model, Models of aggregate demand and aggregate supply, Money, banking and inflation, Phillips curve, Elementary open economy macroeconomics, the Harrod-Domar Model, and the Solow Model.
At Haq Se Economics, our ISI MSQE courses are structured to help you master both concept and
exam temperament:
Comprehensive Video Lectures covering every unit.
Topic-wise and Full-length
Tests
with detailed analysis.
PYQ Solutions
and trend-
based strategy sessions.
Doubt Support
and
mentorship till the exam.
No. From the 2025 admission cycle onwards, the MSQE programme follows a purely written-
test-based selection process, and no interview is conducted.
The final Merit List is prepared using a composite score derived from performance in the
written examinations (PEA & PEB) through a stage-wise shortlisting process.
Yes. Both PEA and PEB are compulsory, and performance in both papers is considered for
shortlisting and final selection.
Both papers are important. Final selection is based on a composite score, which considers
performance in both PEA and PEB. Strong quantitative skills are essential.
As per the 2025 Prospectus, a total of 56 seats are available across the Delhi and Kolkata
campuses, subject to reservation norms.
Yes. Selected MSQE students are eligible for a monthly stipend of ₹8,000, subject to Institute
rules.
Yes. In order to be eligible for admission to this programme, an applicant must have a Bachelor’s
degree of three or more years duration, in any discipline.
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