UGC NET Syllabus for Paper II – Complete Syllabus for Economics

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UGC NET Syllabus for Economics (Paper-II)

Subject Code: 01

Subject Name: Economics / Econometrics / Rural Economics / Co-operation / Development Planning / Development Studies / Development Economics / Demography / Applied Economics / Business Economics

Download NTA UGC NET Exam 2020 Syllabus: All Subjects

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
• General Equilibrium Analysis
• Factor Pricing
• Efficiency Criteria: Pareto-Optimality, Kaldor –Hicks and Wealth Maximization
• Asymmetric Information: Adverse Selection and Moral Hazard
• Welfare Economics: Fundamental Theorems, Social Welfare Function

Unit-2: Macro Economics

• Determination of output and employment: Classical & Keynesian Approach
• National Income: Concepts and Measurement
• Consumption Function
• Investment Function
• Multiplier and Accelerator
• Demand for Money
• Supply of Money
• IS-LM Model Approach
• Inflation and Phillips Curve Analysis
• Monetary and Fiscal Policy
• Business Cycles
• 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
• Simultaneous Equation Models – recursive and non-recursive
• Identification Problem
• Discrete choice models
• Time Series Analysis

Unit-4: Mathematical Economics

• Linear Algebra –Matrices, Vector Spaces
• Input-Output Model, Linear Programming
• Sets, functions and continuity, sequence, series
• Differential Calculus and its Applications
• Static Optimization Problems and their applications
• Difference and Differential equations with applications

Unit-5: International Economics

• International Trade: Basic concepts and analytical tools
• Theories of International Trade
• Balance of Payments: Composition, Equilibrium and Disequilibrium and Adjustment Mechanisms
• International Trade under imperfect competition
• Exchange Rate: Concepts and Theories
• Foreign Exchange Market and Arbitrage
• Tariff and Non-Tariff barriers to trade; Dumping
• Gains from Trade, Terms of Trade, Trade Multiplier
• 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
• Public Revenue: Tax & Non-Tax Revenue, Direct & Indirect Taxes, Progressive and non-Progressive Taxation, Incidence and Effects of Taxation
• Regulation of Market – Collusion and Consumers’ Welfare
• Public Budget and Budget Multiplier
• Fiscal Policy and its implications
• Public expenditure
• Public Debt and its management

Unit-7: Money and Banking

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

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

Unit-10: Indian Economy

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