UGC NET Syllabus for Economics 2020

FOR UGC NET EXAM PREPARATION

UGC NET
Syllabus · Economics
EXAM YEAR TYPE SUBJECT

UGC NET — Syllabus Economics

Notes · Sample Papers · Previous Year Papers · Mock Tests

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NET BUREAU

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NET SYLLABUS

Subject: ECONOMICS Code No.: 01

Unit-1 : Micro Economics

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 Theory of Consumer Behaviour

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Theory of Production and Costs
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Decision making under uncertainty Attitude towards Risk
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Game Theory – Non Cooperative games
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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

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 Asymmetric Information: Adverse Selection and Moral Hazard
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a  National Income: Concepts and Measurement
 Determination of output and employment: Classical & Keynesian Approach
 Consumption Function
 Investment Function
 Multiplier and Accelerator
 Demand for Money
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Supply of Money

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IS – LM Model Approach
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 Inflation and Phillips Curve Analysis
 Business Cycles
 Monetary and Fiscal Policy
 Rational Expectation Hypothesis and its critique
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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

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 Tariff and Non-Tariff barriers to trade; Dumping
 GATT, WTO and Regional Trade Blocks; Trade Policy Issues
 IMF & World Bank

Unit-6 : Public Economics

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 Market Failure and Remedial Measures: Asymmetric Information,
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Public Goods, Externality

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 Regulation of Market – Collusion and Consumers’ Welfare
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 Public Revenue: Tax & Non-Tax Revenue, Direct & Indirect Taxes,
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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

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Unit-7 : Money and Banking

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 Components of Money Supply

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 Central Bank

 Instruments and Working of Monetary Policy
 Non-banking Financial Institutions
 Capital Market and its Regulation

Unit-8 : Growth and Development Economics
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 Economic Growth and Economic Development
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 Theories of Economic Development: Adam Smith, Ricardo, Marx,

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Schumpeter, Rostow, Balanced & Unbalanced growth, Big Push

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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

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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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