IIFT M.A ECONOMICS ENTRANCE EXAM PATTERN: PERSONAL EXPERIENCE

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Indian Institute of Foreign Trade (IIFT) came up with a new course two years ago and nobody had a single idea as to what the pattern could be since it specialises in Trade and Finance. So, this is a post for you so that you don't feel nervous about the paper. The awareness of pattern makes you more confident about the paper. This is solely my experience of it and different people have different experiences, do not get affected by it, just know how to prepare well. Here you go!

ENTRANCE EXAM

The entrance exam consists of two sections- objective and subjective type. In the objective type section, there are MCQ based questions based on core finance, microeconomics, macroeconomics, econometrics, developmental economics and statistic concepts (one or two of them I guess didn't come during my time, but you should be prepared). One question from core finance that came was to calculate accrued interest to a problem. Questions change each year, so this is just to give you an idea.

Then, the subjective section consists of some 7 questions if I'm not wrong and you have to write answers to any 5 of them in some no. of words mentioned in the paper (saying this, because you cannot write long long paragraphs to explain your point). These questions are based on Macroeconomics, International Trade, and some of the above mentioned subjects. I remember one of the questions was on the concept of IS-LM, and the other was explaining the effect of Trump wall through some trade model eg. Hecksher Ohlin Model. These questions are a bit uncertain but they don't directly ask you the concepts at times. They usually also test how you are aware of the happenings around the world (through the concept obviously!)

INTERVIEW ROUND

After you've been shortlisted on the basis of the entrance exam, you are called for an interview round. Where you have some 4-5 rooms with panelists and you can be sent to any room out of them depending on which one is free. It's you who drives the interview, in the sense that they ask you about the subjects you are comfortable in or the ones that you like the most. So, be prepared that if you name that subject, you should actually be well versed with it. I personally was comfortable with Finance and International Trade. They started with what is risk and return, ICs of different kinds of investors and grilled me to another extent. But the key is to remain confident!

I honestly thought that I won't get in because the interview didn't go that well according to me. But, at the end I did get an offer letter from IIFT Kolkata.

WHY I CHOSE GOKHALE OVER IIFT?

I personally wanted a course that specialised in finance and I got that in Gokhale. Also, since it was a new course in IIFT, there was no record of placements particularly in this course but it's placements were very good in MBA no doubt (making decision on the basis of MBA placements didn't make sense). Plus, Gokhale already had a reputation for both research and corporate placements anyway.

Next up, I'll be writing about my experience of Hyderabad University and TERI entrance exam. Stay tuned!

Until then, adios!