The Institute was initially affiliated to University of Bombay,and, in 1949, became a constituent recognised Institute of University of Pune. As Centre for Advanced Study in Economics, the Institute was granted effective autonomy by the University of Pune in 1986. The Institute was conferred the status of a Deemed to be University from May 9,1993. The Institute now awards its own M.A. and Ph.D.degrees in Economics.
In addition to the M.Sc. (Economics) Degree, the Institute also offers M.Sc. (Financial Economics), M.Sc. (Agribusiness Economics), a Post Graduate Diploma program in Financial Derivates (in association with National Stock Exchange, Mumbai) as well as Certificate Programs in Financial Economics, Law & Economics, Econometrics, Macroeconomics, etc.
At GIPE the syllabus is rigorous, innovative and keeps pace with emerging trends in the teaching and learning of Economics. The syllabus is periodically revised in consultation with academicians and industry experts in India and abroad,as well as leading research institutions. Innovative M.Sc. programmes in Environmental Economics, Business Economics, Public Policy, etc. are on the anvil.