UGC NET Economics Syllabus [Latest]

Check the UGC NET syllabus for Economics below:

Unit-1: Micro Economics

o Theory of Consumer Behaviour

o Theory of Production and Costs
o Decision making under uncertainty Attitude towards Risk
o Game Theory–Non-Cooperative games
o Market Structures, competitive and non-competitive equilibria and their efficiency
properties
o General Equilibrium Analysis
o Factor Pricing
o Efficiency Criteria: Pareto-Optimality, Kaldor –Hicks and Wealth Maximization
o Asymmetric Information: Adverse Selection and Moral Hazard
o Welfare Economics: Fundamental Theorems, Social Welfare Function

Unit-2: Macro Economics

o Determination of output and employment: Classical & Keynesian Approach

o National Income: Concepts and Measurement
o Consumption Function
o Investment Function
o Multiplier and Accelerator
o Demand for Money
o Supply of Money
o IS-LM Model Approach
o Inflation and Phillips Curve Analysis
o Monetary and Fiscal Policy
o Business Cycles
o Rational Expectation Hypothesis and its critique

Unit-3: Statistics and Econometrics

o Probability Theory: Concepts of probability, Distributions, Moments, Central Limit

Theorem
o Descriptive Statistics– Measures of Central tendency & dispersions, Correlation, Index
Numbers
o Sampling Methods & Sampling Distribution
o Statistical Inferences, Hypothesis testing
o Linear Regression Models and their properties – BLUE
 o Simultaneous Equation Models – recursive and non-recursive
o Identification Problem
o Discrete choice models
o Time Series Analysis

Unit-4: Mathematical Economics

o Linear Algebra –Matrices, Vector Spaces

o Input-Output Model, Linear Programming
o Sets, functions and continuity, sequence, series
o Differential Calculus and its Applications
o Static Optimization Problems and their applications
o Difference and Differential equations with applications

Unit-5: International Economics

o International Trade: Basic concepts and analytical tools

o Theories of International Trade
o Balance of Payments: Composition, Equilibrium and Disequilibrium and Adjustment
Mechanisms
o International Trade under imperfect competition
o Exchange Rate: Concepts and Theories
o Foreign Exchange Market and Arbitrage
o Tariff and Non-Tariff barriers to trade; Dumping
o Gains from Trade, Terms of Trade, Trade Multiplier
o GATT, WTO and Regional Trade Blocks; Trade Policy Issues
o IMF & World Bank

Unit-6: Public Economics

o Market Failure And Remedial Measures: Asymmetric Information, Public Goods,

Externality
o Public Revenue: Tax & Non-Tax Revenue, Direct & Indirect Taxes, Progressive and non-
Progressive Taxation, Incidence and Effects of Taxation
o Regulation of Market – Collusion and Consumers’ Welfare
o Public Budget and Budget Multiplier
o Fiscal Policy and its implications
o Public expenditure
o Public Debt and its management

Unit-7: Money and Banking

o Central Bank
o Commercial Banking
 o Components of Money Supply
o Instruments and Working of Monetary Policy
o Capital Market and its Regulation
o Non-banking Financial Institutions

Unit-8: Growth and Development Economics

o Economic Growth and Economic Development

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

Unit-9: Environmental Economics and Demography

o Environment as a Public Good

o Market Failure
o Coase Theorem
o Theories of Population
o Concepts and Measures: Fertility, Morbidity, Mortality
o Age Structure, Demographic Dividend
o Cost-Benefit Analysis and Compensation Criteria
o Valuation of Environmental Goods
o Migration
o Life Table

Unit-10: Indian Economy

o Economic Growth in India: Pattern and Structure

o Agriculture: Pattern & Structure of Growth, Major Challenges, Policy Responses
o Services: Pattern & Structure of Growth, Major Challenges, Policy Responses
o Industry: Pattern & Structure of Growth, Major Challenges, Policy Responses
o Urban Development –Issues, Challenges and Policy Responses
o Rural Development –Issues, Challenges & Policy Responses
o Infrastructure Development: Physical and Social; Public-Private Partnerships
o Foreign Trade: Structure and Direction, BOP, Flow of Foreign Capital, Trade Policies
o Centre-State Financial Relations and Finance Commissions of India; FRBM
o Reforms in Land, Labour and Capital Markets
o Poverty, Inequality & Unemployment