Coupled interaction of magnetic field and charge motions paved a way to an exciting field of research in recent years. In this context, composites of a ferroelectric and a ferromagnetic phase shows an enhanced magnetoelectric effect. Size-dependent studies on the properties are of primordial interest in particulates. Effect on thin film will also be touched upon and the mechanism underlying the phenomenon will be explained. A brief literature review in bulk and thin form of ME composites will be discussed along with a proposal to work on RFe2 (where R is Rare-Earth element) and BaTiO3 as magnetostrictive and ferroelectric material.