UPDATED NTA UGC NET SYLLABUS OF ECONOMICS
( w.e.f June 2019 )
(including Rural Economics / Co-operation / Demography / Development Planning / Development Studies / Econometrics / Applied Economics / Development Economics / Business Economics)
SUBJECT CODE – 01
The UGC has revised the pattern and scheme of exam from December 2018. The pattern of exam has been changed from 3 papers (Paper I, II & III) to 2 papers (Paper I & II). Now, there are 50 MCQs in Paper 1 and 100 MCQs in Paper 2. Each question carries 2 marks without any NEGATIVE marking for wrong answer.
ACCORDING TO UGC NET UPDATES, ALL QUESTIONS OF PAPER – II WILL BE COMPULSORY ACCORDING TO NEW SYLLABUS.
The UGC NET exam would be computer based like bank PO, SSC exam. Paper 2 will have 100 Multiple Choice Questions (MCQs) with each question carrying two (2) marks i.e. 200 marks in total. The objective type questions will include multiple choices, matching type, true/false and assertion-reasoning type etc.
New Syllabus of Economics for UGC NET Exam June 2019 onward will be as follows:
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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
· Factor Pricing
· General Equilibrium Analysis
· Efficiency Criteria: Pareto-Optimality, Kaldor – Hicks and Wealth Maximization
· Welfare Economics: Fundamental Theorems , Social Welfare Function
· Asymmetric Information: Adverse Selection and Moral Hazard
Unit-2 : Macro Economics
· National Income: Concepts and Measurement
· Determination of output and employment: Classical & Keynesian Approach
· Consumption Function
· Investment Function
· Multiplier and Accelerator
· Demand for Money
· Supply of Money
· IS – LM Model Approach
· Inflation and Phillips Curve Analysis
· Business Cycles
· Monetary and Fiscal Policy
· 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
· 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
· Tariff and 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
· Regulation of Market – Collusion and Consumers’ Welfare
· Public Revenue: Tax & Non-Tax Revenue, Direct & Indirect Taxes, 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
Unit-7 : Money and Banking
· Components of Money Supply
· Central Bank
· Commercial Banking
· Instruments and Working of Monetary Policy
· Non-banking Financial Institutions
· Capital Market and its Regulation
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
· 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
Updated NTA UGC NET Syllabus for ECONOMICS (2019) in PDF
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