UGC NET Economics

Subject: ECONOMICS                                                                                                                                                                              Code No.: 01

Unit-1 : Micro Economics

• Theoryof Consumer Behaviour
• Theoryof Production and Costs
• Decisionmaking under uncertainty Attitude towards Risk
• GameTheory – Non Cooperative games
• MarketStructures, competitive and non-competitive equilibria and their efficiency properties
• FactorPricing
• GeneralEquilibrium Analysis
• EfficiencyCriteria: Pareto-Optimality, Kaldor – Hicks and Wealth Maximization
• WelfareEconomics: Fundamental Theorems , Social Welfare Function
• AsymmetricInformation: Adverse Selection and Moral Hazard

Unit-2 : Macro Economics

• NationalIncome: Concepts and Measurement
• Determinationof output and employment: Classical & Keynesian Approach
• ConsumptionFunction
• InvestmentFunction
• Multiplierand Accelerator
• Demandfor Money
• Supplyof Money
• IS– LM Model Approach
• Inflationand Phillips Curve Analysis
• BusinessCycles
• Monetaryand Fiscal Policy
• RationalExpectation Hypothesis and its critique

Unit- 3 : Statistics and Econometrics

•  ProbabilityTheory: Concepts of probability, Distributions, Moments, Central Limit theorem
• DescriptiveStatistics – Measures of Central tendency & dispersions, Correlation, Index Numbers
• Samplingmethods & Sampling Distribution
• StatisticalInferences, Hypothesis testing
• Linear Regression Modelsand their properties – BLUE
• IdentificationProblem
• SimultaneousEquation Models – recursive and non-recursive
• Discretechoice models
• TimeSeries Analysis

Unit-4 : Mathematical Economics

•  Sets,functions and continuity, sequence, series
• DifferentialCalculus and its Applications
• LinearAlgebra – Matrices, Vector Spaces
• StaticOptimization Problems and their applications
• Input-OutputModel, Linear Programming
• Differenceand Differential equations with applications

Unit-5 : International Economics

•  InternationalTrade: Basic concepts and analytical tools
• Theoriesof International Trade
• InternationalTrade under imperfect competition
• Balanceof Payments: Composition, Equilibrium and Disequilibrium and Adjustment Mechanisms
• ExchangeRate: Concepts and Theories
• ForeignExchange Market and Arbitrage
• Gainsfrom Trade, Terms of Trade, Trade Multiplier
• Tariffand 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
• Regulationof Market – Collusion and Consumers’ Welfare
• Public Revenue:Tax & Non-Tax Revenue, Direct & Indirect Taxes, Progressive and non-Progressive Taxation, Incidence and Effects of Taxation
• Publicexpenditure
• PublicDebt and its management
• PublicBudget and Budget Multiplier
• FiscalPolicy and its implications

Unit-7 : Money and Banking

• Componentsof Money Supply
• CentralBank
• CommercialBanking
• Instrumentsand Working of Monetary Policy
• Non-bankingFinancial Institutions
• CapitalMarket and its Regulation

Unit-8 : Growth and Development Economics

•  EconomicGrowth and Economic Development
• Theories of Economic Development: Adam Smith, Ricardo, Marx,Schumpeter, Rostow, Balanced & Unbalanced growth, Big Push 
• Modelsof Economic Growth: Harrod-Domar, Solow, Robinson, Kaldor
• Technicalprogress – Disembodied & embodied; endogenous growth
• Indicatorsof Economic Development: PQLI, HDI, SDGs
• Povertyand Inequalities – Concepts and Measurement
• SocialSector Development: Health, Education, Gender

 Unit-9 : Environmental Economics and Demography

• Environmentas a Public Good
• MarketFailure
• CoaseTheorem
• Cost-BenefitAnalysis and Compensation Criteria
• Valuationof Environmental Goods
• Theoriesof Population
• Conceptsand Measures: Fertility, Morbidity, Mortality
• AgeStructure, Demographic Dividend
• LifeTable
• Migration

Unit-10 : Indian Economy

•  EconomicGrowth 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
• RuralDevelopment – Issues, Challenges & Policy Responses
• UrbanDevelopment – Issues, Challenges and Policy 
• ForeignTrade: Structure and Direction, BOP, Flow of Foreign Capital, Trade Policies
• InfrastructureDevelopment: Physical and Social; Public-Private Partnerships
• Reformsin Land, Labour and Capital Markets
• Centre-State Financial Relations and Finance Commissions ofIndia; FRBM
• Poverty,Inequality & Unemployment