UGC NET Syllabus (Economics)

Subject: ECONOMICS Code No.: 01

Unit-1 : Micro Economics

1. Theory of Consumer Behaviour
2. Theory of Production and Costs
3. Decision making under uncertainty Attitude towards Risk
4. Game Theory – Non Cooperative games
5. Market Structures, competitive and non-competitive equilibria and their efficiency properties
6. Factor Pricing
7. General Equilibrium Analysis
8. Efficiency Criteria: Pareto-Optimality, Kaldor – Hicks and Wealth Maximization
9. Welfare Economics: Fundamental Theorems , Social Welfare Function
10. Asymmetric Information: Adverse Selection and Moral Hazard

Unit-2 : Macro Economics

1. National Income: Concepts and Measurement
2. Determination of output and employment: Classical & Keynesian Approach
3. Consumption Function
4. Investment Function
5. Multiplier and Accelerator
6. Demand for Money
7. Supply of Money
8. IS – LM Model Approach
9. Inflation and Phillips Curve Analysis
10. Business Cycles
11. Monetary and Fiscal Policy
12. Rational Expectation Hypothesis and its critique

Unit- 3 : Statistics and Econometrics

1. Probability Theory: Concepts of probability, Distributions, Moments, Central Limit theorem
2. Descriptive Statistics – Measures of Central tendency & dispersions, Correlation, Index Numbers
3. Sampling methods & Sampling Distribution
4. Statistical Inferences, Hypothesis testing
5. Linear Regression Models and their properties – BLUE
6. Identification Problem
7. Simultaneous Equation Models – recursive and non-recursive
8. Discrete choice models
9. Time Series Analysis

Unit-4 : Mathematical Economics

1. Sets, functions and continuity, sequence, series
2. Differential Calculus and its Applications
3. Linear Algebra – Matrices, Vector Spaces
4. Static Optimization Problems and their applications
5. Input-Output Model, Linear Programming
6. Difference and Differential equations with applications

Unit-5 : International Economics

1. International Trade: Basic concepts and analytical tools
2. Theories of International Trade
3. International Trade under imperfect competition
4. Balance of Payments: Composition, Equilibrium and Disequilibrium and Adjustment Mechanisms
5. Exchange Rate: Concepts and Theories
6. Foreign Exchange Market and Arbitrage
7. Gains from Trade, Terms of Trade, Trade Multiplier
8. Tariff and Non-Tariff barriers to trade; Dumping
9. GATT, WTO and Regional Trade Blocks; Trade Policy Issues
10. IMF & World Bank

Unit-6 : Public Economics

1. Market Failure and Remedial Measures: Asymmetric Information, Public Goods, Externality
2. Regulation of Market – Collusion and Consumers’ Welfare
3. Public Revenue: Tax & Non-Tax Revenue, Direct & Indirect Taxes, Progressive and non-Progressive Taxation, Incidence and Effects of Taxation
4. Public expenditure
5. Public Debt and its management
6. Public Budget and Budget Multiplier
7. Fiscal Policy and its implications

Unit-7 : Money and Banking

1. Components of Money Supply
2. Central Bank
3. Commercial Banking
4. Instruments and Working of Monetary Policy
5. Non-banking Financial Institutions
6. Capital Market and its Regulation

Unit-8 : Growth and Development Economics

1. Economic Growth and Economic Development
2. Theories of Economic Development: Adam Smith, Ricardo, Marx, Schumpeter, Rostow, Balanced & Unbalanced growth, Big Push approach.
3. Models of Economic Growth: Harrod-Domar, Solow, Robinson, Kaldor
4. Technical progress – Disembodied & embodied; endogenous growth
5. Indicators of Economic Development: PQLI, HDI, SDGs
6. Poverty and Inequalities – Concepts and Measurement
7. Social Sector Development: Health, Education, Gender

Unit-9 : Environmental Economics and Demography

1. Environment as a Public Good
2. Market Failure
3. Coase Theorem
4. Cost-Benefit Analysis and Compensation Criteria
5. Valuation of Environmental Goods
6. Theories of Population
7. Concepts and Measures: Fertility, Morbidity, Mortality
8. Age Structure, Demographic Dividend
9. Life Table
10. Migration

Unit-10 : Indian Economy

1. Economic Growth in India: Pattern and Structure
2. Agriculture: Pattern & Structure of Growth, Major Challenges, Policy Responses
3. Industry: Pattern & Structure of Growth, Major Challenges, Policy Responses
4. Services: Pattern & Structure of Growth, Major Challenges, Policy Responses
5. Rural Development – Issues, Challenges & Policy Responses
6. Urban Development – Issues, Challenges and Policy Responses.
7. Foreign Trade: Structure and Direction, BOP, Flow of Foreign Capital, Trade Policies
8. Infrastructure Development: Physical and Social; Public-Private Partnerships
9. Reforms in Land, Labour and Capital Markets
10. Centre-State Financial Relations and Finance Commissions of India; FRBM
11. Poverty, Inequality & Unemployment