NET SYLLABUS ECONOMICS ; Subject 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 ForeignCapital, 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

Download Syllabus: Link