The MPhil Programme in Applied Economics which had started in 1975 at the CDS offered a   4-semester Programme affiliated to the Jawaharlal Nehru University, New Delhi and was open to all students with a Master’s degree in any discipline.  The focus on applied economics from a plural perspective and adaptation of effective learning tools added to the uniqueness of the programme which had attracted nation-wide attention. From 2014-15 onwards an integrated MPhil/PhD programme was introduced whereby on completion of MPhil with a stipulated result, students would be automatically entitled to get admitted for the PhD Programme.   470 students from the 42 batches till 2017–19 have been awarded the MPhil Degree.  The final batch of the Programme (2019–21) commenced on August 01, 2019 and they are now in the process of submitting their dissertations.
Following the New Education Policy 2020, CDS has  decided to discontinue the programme.