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Flame University
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FLAME University in Pune offers a distinctive 2-year M.Sc. in Economics anchored in data science. It is an NAAC A++ accredited program that blends advanced economic theory with computational skills. It trains students in Python, R, and STATA. The program combines microeconomics, econometrics, and machine learning applications.
Everything you need to know about: Flame University
School
FLAME University was established in 2015 under the FLAME University Act 2014 as India's first dedicated liberal arts and management education institution. The acronym FLAME represents Foundation for Liberal and Management Education. The school is recognized by UGC and has been awarded NAAC A++ accreditation. It also has a Diamond rating in the QS I-Gauge rankings. FLAME pioneered interdisciplinary education in India. The university integrates rigorous academic programs with liberal arts philosophy, developing critical thinkers equipped to address complex challenges across economics, policy, research, and data-driven fields.
Location
Located in Lavale, off the Pune-Bangalore Highway, FLAME's 70-acre hilltop campus features sustainable architecture designed by renowned Vastu Shilpa Consultants. The eco-friendly residential campus includes state-of-the-art research facilities, extensive Vivekananda Library, computational labs, collaborative learning spaces, and modern hostel accommodations. Situated on Pune's serene outskirts, the campus provides an immersive research environment while maintaining close proximity to India's economic research institutions and policy centers.
Accreditations
FLAME University holds NAAC A++ accreditation, the highest grade awarded by India's National Assessment and Accreditation Council. It is recognized by the University Grants Commission (UGC) as a state-private university under the Maharashtra Act 2014. It also holds a Diamond rating in the QS I-Gauge rankings overall, with a Platinum rating in Liberal Arts. It has ISO 21001:2018, and ISO 9001:2015 certifications.
Programs
FLAME offers a two-year full-time M.Sc. in Economics anchored in data science. The curriculum includes core cores such asMicroeconomics, Macroeconomics, Mathematical Economics, and Econometrics The curriculum includes advanced computational training in Python, R, and STATA. Students master statistical modeling, machine learning, and real-world data analysis. Elective options include Applied Game Theory, Behavioral Economics, Health Economics, Financial Technology, Experimental Economics, and Advanced Machine Learning. The program prepares graduates for research, policy, consulting, finance, and international organizations.
Scholarships
FLAME offers merit-based scholarships for high-performing students with strong entrance exam scores (GRE/JAM/PG FEAT). Additional scholarships are available for academic excellence, research potential, and need-based financial assistance. Beyond that, sports scholarships are available to national/state-level athletes. All applicants are automatically considered for scholarships without a separate application. Education loan partnerships are available with major financial institutions.
Fun fact
FLAME University's M.Sc. Economics program uniquely mandates liberal education courses alongside rigorous quantitative training. Students study not just econometrics and machine learning but also humanities, social sciences, and creative arts. This interdisciplinary approach produces economists who combine analytical rigor with broader cultural awareness and ethical grounding. The program emphasizes hands-on learning with real datasets, active participation in research seminars, and collaboration with faculty experts publishing in international journals. FLAME's computational labs provide access to advanced statistical software and big data processing capabilities.