ugc net economics syllabus

Subject: ECONOMICS Syllabus

Code No.: 01

Unit-1 : Micro Economics
  • Theory of Consumer Behaviour

  • Theory of Production and Costs

  • Decision making under uncertainty Attitude towards Risk

  • Game Theory – Non Cooperative games

  • Market Structures, competitive and non-competitive equilibria and their efficiency properties

  • Factor Pricing

  • General Equilibrium Analysis

  • Efficiency Criteria: Pareto-Optimality, Kaldor – Hicks and Wealth Maximization

  • Welfare Economics: Fundamental Theorems , Social Welfare Function

  • Asymmetric Information: Adverse Selection and Moral Hazard

Unit-2 : Macro Economics
  • National Income: Concepts and Measurement

  • Determination of output and employment: Classical & Keynesian Approach

  • Consumption Function

  • Investment Function

  • Multiplier and Accelerator

  • Demand for Money

  • Supply of Money

  • IS – LM Model Approach

  • Inflation and Phillips Curve Analysis

  • Business Cycles

  • Monetary and Fiscal Policy

  • Rational Expectation Hypothesis and its critique

Unit- 3 : Statistics and Econometrics
  • Probability Theory: Concepts of probability, Distributions, Moments, Central Limit theorem

  • Descriptive Statistics – Measures of Central tendency & dispersions, Correlation, Index Numbers

  • Sampling methods & Sampling Distribution

  • Statistical Inferences, Hypothesis testing

  • Linear Regression Models and their properties – BLUE

  • Identification Problem

  • Simultaneous Equation Models – recursive and non-recursive

  • Discrete choice models

  • Time Series Analysis

Unit-4 : Mathematical Economics
  • Sets, functions and continuity, sequence, series

  • Differential Calculus and its Applications

  • Linear Algebra – Matrices, Vector Spaces

  • Static Optimization Problems and their applications

  • Input-Output Model, Linear Programming

  • Difference and Differential equations with applications

Unit-5 : International Economics
  • International Trade: Basic concepts and analytical tools

  • Theories of International Trade

  • International Trade under imperfect competition

  • Balance of Payments: Composition, Equilibrium and Disequilibrium and Adjustment Mechanisms

  • Exchange Rate: Concepts and Theories

  • Foreign Exchange Market and Arbitrage

  • Gains from Trade, Terms of Trade, Trade Multiplier

  • Tariff and Non-Tariff barriers to trade; Dumping

  • GATT, WTO and Regional Trade Blocks; Trade Policy Issues

  • IMF & World Bank

Unit-6 : Public Economics
  • Market Failure and Remedial Measures: Asymmetric Information, Public Goods, Externality

  • Regulation of Market – Collusion and Consumers’ Welfare

  • Public Revenue: Tax & Non-Tax Revenue, Direct & Indirect Taxes, Progressive and non-Progressive Taxation, Incidence and Effects of Taxation

  • Public expenditure

  • Public Debt and its management

  • Public Budget and Budget Multiplier

  • Fiscal Policy and its implications

Unit-7 : Money and Banking
  • Components of Money Supply

  • Central Bank

  • Commercial Banking

  • Instruments and Working of Monetary Policy

  • Non-banking Financial Institutions

  • Capital Market and its Regulation

Unit-8 : Growth and Development Economics
  • Economic Growth and Economic Development

  • Theories of Economic Development: Adam Smith, Ricardo, Marx, Schumpeter, Rostow, Balanced & Unbalanced growth, Big Push approach.

  • Models of Economic Growth: Harrod-Domar, Solow, Robinson, Kaldor

  • Technical progress – Disembodied & embodied; endogenous growth

  • Indicators of Economic Development: PQLI, HDI, SDGs

  • Poverty and Inequalities – Concepts and Measurement

  • Social Sector Development: Health, Education, Gender

Unit-9 : Environmental Economics and Demography
  • Environment as a Public Good

  • Market Failure

  • Coase Theorem

  • Cost-Benefit Analysis and Compensation Criteria

  • Valuation of Environmental Goods

  • Theories of Population

  • Concepts and Measures: Fertility, Morbidity, Mortality

  • Age Structure, Demographic Dividend

  • Life Table

  • Migration

Unit-10 : Indian Economy
  • Economic Growth in India: Pattern and Structure

  • Agriculture: Pattern & Structure of Growth, Major Challenges, Policy Responses

  • Industry: Pattern & Structure of Growth, Major Challenges, Policy Responses

  • Services: Pattern & Structure of Growth, Major Challenges, Policy Responses

  • Rural Development – Issues, Challenges & Policy Responses

  • Urban Development – Issues, Challenges and Policy Responses.

  • Foreign Trade: Structure and Direction, BOP, Flow of Foreign Capital, Trade Policies

  • Infrastructure Development: Physical and Social; Public-Private Partnerships

  • Reforms in Land, Labour and Capital Markets

  • Centre-State Financial Relations and Finance Commissions of India; FRBM

  • Poverty, Inequality & Unemployment

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