Tell me diffrence between engineering physics and physics as a branch in engineering.

On the lines of Avineil's post, I would like to shed some light on my branch, Engineering Physics (EP).

1. What exactly is Engineering and Physics in EP?
As far as IITB is concerned, the Engineering part of the curriculum includes courses mainly from the electrical department. The topics covered include analog electronics (diodes, transistors, amplifiers, etc) and digital electronics (logic circuits, FSM). The labs include applications of these concepts and a general introduction to FPGAs and microprocessors.

The Physics part includes extensions from what you have learned during JEE. You get to learn about Quantum Mechanics, Classical Physics, Optics, Statistical Physics, Solid State Physics, Photonics, etc. But be alarmed that the physics is somewhat different from what you do during JEE, and is focused on the theoretical side.

EP people also do a quite a few Maths courses (as compared to other departments) like Complex Analysis, Partial Differential Equations, Numerical Analysis, etc since these notions are heavily used in physics.

2. What are the courses that one does in EP?
You can check out the current curriculum at IIT bombay Physics department website

3. What are the future prospects after EP?
[Content taken from a comment by Darshil Dave]
If we talk only about the engineering or physics aspects, you've two broad options:
- Go on to become a full time researcher which means pursuing a PhD after your degree eventually followed by professorship. EP students from IITB get 'placed' for PhD in one of the best universities of the world. There is seldom a lack of funding and it all depends mostly on your motivation to pursue this option. A professor (and a researcher!) is also an esteemed position and pays well if you manage to get into a good university which again, depends on your motivation and conviction.

- Go on to work in applied physics which is more towards engineering side of things. You can again pursue a PhD in applied physics as mentioned before. However, you can even get directly placed in companies which require the skill set of an engineering physics student. What skill set? => EP students take a significant number of courses from the electrical department in IITB. Hence, we also gain experience in dealing with semiconductors, transistors, microprocessors and all sorts of other things. I know a couple of my friends who have got placed in companies which mainly hire students from the Elec. branch.

- If we are talking about the other aspects (non core), EP is pretty much the same as other branches. Consulting jobs, start ups, coding jobs, analytics and so on, is something that an EP student can do as good as a student from any other branch. We're sought after when it comes to finance because of all the rigorous mathematics that we do in our courses (EP is one of the few branches that takes the maximum number of math courses as core courses).

4. EP BTech v/s BSc Physics:

As far as I'm aware, IISc Bangalore has as good a faculty as IIT Bombay does. BSc physics wouldn't have the elec. component as EP does. Non core jobs are significantly harder to get, apparently. But this is from the perspective of someone who is at IITB, so talk to people from IISc as well.

I could mention that it seems that IITB has an all round culture not limited to science while IISc has a stronger (better?) science culture. Now it really depends on what you're inclined for.

Cheers! 
A final word, contact as many people as your can. Make an informed choice and not blindly on last year's cut-offs.
Sandesh Kalantre, 
Third Year Undergraduate,
Engineering Physics,
IITB.

PLZ APPROVE if usefull